12 Feb
Member News

CCPA Update: California Attorney General Issues Modifications to Proposed CCPA Regulations

On February 10, 2020, the California Attorney General issued the proposed text of modified regulations implementing the California Consumer Privacy Act (CCPA). This draft is a correction of a version that the California Attorney General issued on February 7, 2020. While the California Attorney General previously indicated that major changes to the proposed CCPA regulations were not anticipated, these modifications are likely to have a significant impact on CCPA compliance efforts, particularly regarding privacy notices, agreements between businesses and service providers,...

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12 Feb
Chapter News

More than Money: The Long-Term EU Budget is a Tool for Europe’s Future

MEPs underlined that Parliament will only give its consent to a budget that meets the European Union’s ambitions, in a debate on EU funding for 2021-2027. Talking about the budget means talking about the EU’s future, MEPs said in a key plenary debate with Nikolina Brnjac, Croatian State Secretary for Foreign and European Affairs, representing the Council, and Commission President Ursula von der Leyen. The debate on Wednesday came ahead of a special EU summit starting on 20 February, where member...

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12 Feb
Member News

EIB Group Press Conference on Annual Results – EU Bank Closes 2019 with Stronger Results in Climate Finance and a Record Number of Deals

In a challenging year, the European Investment Bank Group (EIB) exceeded its own targets, signing a record number of 1 095 operations and increasing financing volumes to EUR 72.22 billion. This was in spite of uncertainty and delays linked to Brexit and to the need for the remaining EU Member States to come to an agreement, last spring, over the replacement of the UK’s share of EIB capital.  “The EU bank has performed well in the markets, proving that there is...

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11 Feb
Member News

Triage Your Supply Chain: Mitigate Additional Tariffs on Imported Merchandise from China

Importing merchandise made in China is far more expensive than before the imposition of additional tariffs leaving many U.S. importers of products from China grappling with the additional duty. Beginning on July 6, 2018, and pursuant to Section 301 of the Trade Act of 1974, the United States imposed 25 percent additional tariffs in three tranches on $250 billion worth of Chinese merchandise imported into the country. A fourth tranche was imposed on September 1, 2019 on approximately $116 billion...

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10 Feb
Member News

SARIO Newsletter: ECONOMY NEWS

The Ministry of Economy of the Slovak Republic supported 42 investment plans during this parliamentary term. As the ministry said further, thereof 31 projects were directed to central or eastern Slovakia, where almost 4,500 new jobs will be created. The total volume of supported investments during this parliamentary term should exceed 1 billion euros and create more than 6,700 new jobs. Investment aid exceeded 207 million euros, of which almost 130 million euros represents income tax relief. Last time,...

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10 Feb
Member News

Special Letter : RE: Coronavirus

With over 2,600 new cases of Coronavirus reported this past weekend, more than 37,000 cases have been recorded worldwide, including over 800 deaths. The good news is the number of new cases declined 20 percent, the first drop since Feb 1. But there is also concern there might be an increase in new cases as people return to work after the Lunar New Year. The new respiratory virus was first identified in Wuhan, Hubei Province, China, with the vast majority...

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07 Feb
Member News

U.S. Dollar up as Virus Forces Tough Decisions

The U.S. Dollar is ending the week strengthening against all peers across the board as economic data is providing evidence of much better performance in this region than elsewhere. Indeed, the greenback is up based on releases showing non-Farm Payrolls growing by 225K over the expected 165K, while the Labor Participation Rate and Unemployment Rate both exceeded expectations. The overall health in the labor sector is certainly impressive, yet wages seem to be stuck with Average Hourly Earnings coming in...

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07 Feb
Chapter News

ESMA Issues Opinions on Position Limits under MIFID II

The European Securities and Markets Authority (ESMA) has published seven opinions on position limits  regarding commodity derivatives under the Markets in Financial Instruments Directive and Regulation (MiFID II/MIFIR) today. ESMA’s opinions agree with the proposed position limits regarding: ICE Endex Dutch TTF Gas contracts EEX Phelix DE Base Power contracts EEX Capesize TC5 Freight contracts EEX Spanish Power Base contracts MEFFPOWER  Baseload contracts ESMA found that the proposed position limits are consistent with the objectives established in MiFID II and with the methodology...

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07 Feb
Member News

Vulcan Insight Analysis of the Latest EU Developments

European Commission presents draft Brexit negotiating directives The European Commission’s chief Brexit negotiator, Michel Barnier, on Monday 3 February, presented the EU’s draft negotiating directives. The draft mandate will now have to be approved by EU Affairs Ministers on 25 February. On the first full working day since the United Kingdom officially withdrew from the European Union, the European Commission adopted the EU’s draft negotiating directives for the upcoming negotiations on the future EU-UK relationship. Pending any amendments by member...

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06 Feb
Chapter News

A More Credible, Dynamic, Predictable and Political EU Accession Process – Commission Lays out its Proposals

Today, the European Commission put forward a proposal to drive forward the EU accession process, by making it more credible, with a stronger political steer, more dynamic and predictable. Commissioner for Neighbourhood and Enlargement, Olivér Várhelyi, commented: “The European Union enlargement to the Western Balkans is a top priority for the Commission. We are working on three tracks: Firstly, today we propose concrete steps on how to enhance the accession process. While we are strengthening and improving the process, the goal remains accession...

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