Chapter News

IMF | A New Era of Digital Money

Digital forms of money could be a boon for emerging market and lower-income economies if the transition is well managed and regulated Digital money has the potential to transform the financial sector. Emerging markets and lower-income countries stand to gain the most from this dramatic shift. Broad and inexpensive access to digital money and phone-based transactions could open the door to financial services for 1.7 billion people without traditional bank accounts. And countries may grow increasingly connected, facilitating trade and...

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Member News

Vulcan Insight | Lovefest at EU-US Summit, but transatlantic differences remain

When the Presidents of the EU’s two main institutions welcomed US President Joe Biden in the Council’s egg-shaped Europa building, it was immediately clear to observers that, while the difficulties of the past four years had not been forgotten, all signs pointed to a softening of the transatlantic relationship.  Following the rocky and often openly acrimonious relationship between the Trump Administration and the European Union, President Biden’s overarching objective for his trip to Brussels was to reconfirm his commitment to...

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Member News

AlixPartners | How airlines can win in their post-pandemic recovery

As the rollout of COVID-19 vaccines continue, there is optimism that the airline industry has left last year’s turbulence behind. But unanswered questions remain. For carriers in the northern hemisphere, the summer travel season should offer some indication of challenges that lie ahead. While leisure travel, especially in the U.S., may return quickly, it still seems unlikely that the international business segment will come back to pre-pandemic levels anytime soon. Full-service carriers (FSCs) that get most of their profits...

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Member News

Arendt | No fixed establishment for VAT purposes for property companies without staff

The Court of Justice of the European Union ('CJEU') confirmed in decision C-931/19 of 3 June 2021 that the letting of immovable property abroad, where the property owner does not have its own staff to perform letting-related services, does not give rise to a fixed establishment for VAT purposes in the country where the property is located. The case concerned a Jersey-based company, Titanium Ltd (‘Titanium’), involved in real estate and asset management activities. In the context of those activities, Titanium...

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Chapter News

OECD | Addressing complex housing policy challenges should be a central priority for governments

Access to affordable and decent housing is vital for good health, job opportunities and life satisfaction, but housing remains one of the most complex policy challenges facing societies today. Governments must do more to ensure universal access to affordable, high-quality, environmentally sustainable housing, according to the OECD. The COVID-19 crisis has uncovered how unevenly housing is distributed across population groups, and has worsened the adverse impacts of poor housing conditions, notably on the most vulnerable. Launched in 2018, a wide-ranging OECD Housing...

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OECD | COVID-19 pandemic highlights urgent need to scale up investment in lifelong learning for all

Countries must step up their efforts to enable people to continue learning throughout their lives to navigate a rapidly changing world of work shaped by globalisation and the consequences of the COVID-19 pandemic, according to a new OECD report. OECD Skills Outlook 2021: Learning for Life says that public policies should play a key role in facilitating effective and inclusive lifelong learning, but much remains to be done. It will be crucial to invest part of the resources devoted to the...

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Chapter News

EU-Canada summit, Brussels, 14 June 2021

Main results The 18th EU-Canada summit took place in Brussels on 14 June 2021. Charles Michel, President of the European Council, and Ursula von der Leyen, President of the European Commission, represented the EU. Canada was represented by Prime Minister Justin Trudeau. The leaders discussed how to work together to end the COVID-19 pandemic and pursue a sustainable, people-centred and inclusive recovery. They reaffirmed their ambitious commitments on fighting climate change and protecting the environment, and their determination to promote democratic...

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Chapter News

EU-US summit, Brussels, 15 June 2021

Main results The EU-US summit on 15 June 2021 marked the beginning of a renewed transatlantic partnership and set a joint agenda for EU-US cooperation in the post-pandemic era. The leaders committed to regular dialogue to take stock of progress. Key summit deliverables include three major new trade initiatives. The leaders agreed to: create a Cooperative Framework for Large Civil Aircraft engage in discussions to resolve differences on measures regarding steel and aluminium by the end of the year establish an EU-US Trade and Technology Council Charles...

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Member News

Faegre Drinker | New Tools for International Data Transfers: European Commission Adopts New Standard Contractual Clauses

In early June 2021, the European Commission adopted a new set of Standard Contractual Clauses for organizations to use to ensure compliance with the EU General Data Protection Regulation (GDPR) requirements for transfers of personal data from the European Economic Area (EEA). Background Under the GDPR, transfers of personal data from the EEA are not permitted unless certain safeguards are met to ensure that a similar level of protection is afforded to data subjects as that granted under EU law. Among...

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Member News

Marks Paneth | PPP Loan Forgiveness: An Important Window is Closing

More than 30% of borrowers who received Paycheck Protection Program (PPP) loans in 2020 still have not applied for forgiveness, according to the Small Business Administration (SBA). The SBA distributed approximately $521 billion in PPP loans to businesses during 2020, but as of May 24, 2021, had not received forgiveness applications related to loans totaling $159 billion of those funds. The SBA has issued guidance explaining that borrowers may submit a loan forgiveness application any time before the maturity date...

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