26 Jun
Chapter News

European Commission | New finance hub to support ambitions of pioneering cities in climate mitigation and adaptation

The Commission is setting up a new Climate City Capital Hub, an international finance resource to further support cities participating in the EU Mission on Climate-Neutral and Smart Cities. Thanks to the new hub, cities that have already received the EU Cities Mission Label will be able to: Access financial advice in cooperation with advisory services of the European Investment Bank (EIB); Structure their financial needs so they understand various ways of funding projects, including pooling of projects; and Introduce projects to a range...

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26 Jun
Chapter News

ECB reports on progress towards euro adoption

Biennial report assesses progress towards euro adoption in Bulgaria, Czech Republic, Hungary, Poland, Romania and Sweden Inflation above reference value seen as key economic obstacle in central and eastern European countries under review Legislation in five of six countries under review not fully compatible with legal requirements for euro adoption Economic activity expected to strengthen in 2024, but outlook clouded by geopolitical uncertainty Limited progress has been made by non-euro area Member States of the European Union (EU) on...

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26 Jun
Member News

EIB | Greener food, fuel and chemical production in Europe boosted by EIB, European Commission and Breakthrough Energy Catalyst support for groundbreaking energy- storage project

More climate-friendly production of foods, clean fuels and chemicals in Europe is receiving a boost from the EU-Catalyst partnership, a joint initiative by the European Investment Bank (EIB), the European Commission and Breakthrough Energy Catalyst. Energy equipment manufacturer Rondo Energy is receiving €75 million through grants and venture debt (subject to the satisfaction of funding conditions), so it can deploy in Europe a technology for turning intermittent renewable electricity into the continuous, high-temperature heat and power required by food, clean-fuel and...

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25 Jun
Chapter News

IMF | Mapping the World’s Readiness for Artificial Intelligence Shows Prospects Diverge

By Giovanni Melina | Artificial intelligence can increase productivity, boost economic growth, and lift incomes. However, it could also wipe out millions of jobs and widen inequality. Our research has already shown how AI is poised to reshape the global economy. It could endanger 33 percent of jobs in advanced economies, 24 percent in emerging economies, and 18 percent in low-income countries. But, on the brighter side, it also brings enormous potential to enhance the productivity of existing jobs for which AI...

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25 Jun
Chapter News

ECB | Maintaining the freedom to choose how we pay

Blog post by Piero Cipollone | Freedom lies at the heart of the European Union’s principles. Every EU citizen is free to live, work, study and do business in any EU Member State. The euro plays a key role in making this possible. We can use it to buy or sell goods and services anywhere in the euro area. In providing euro banknotes, the European Central Bank (ECB) plays a crucial role in upholding these freedoms. Most Europeans want to have...

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25 Jun
Member News

Mason Hayes + Curran | The AI Act is Adopted: Compliance Obligations on the Horizon

The Council of the EU approved the AI Act on 21 May 2024 and it is now expected to enter into force by June 2024. With the exception of certain provisions of the AI Act, such as prohibited AI, the main obligations will apply two years after it commences. Oversight will be managed by national supervisory authorities including: The AI Office The AI Board A scientific panel, and A stakeholder advisory forum. Following the announcement of the adoption of the AI Act,...

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25 Jun
Member News

Berkowitz Pollack Brant | Ransomware attacks continue to rise among small and mid-size businesses

Article by Brandon Bowers | These costs are one reason why ransomware attacks are particularly damaging to small businesses, 60 percent of which are forced to go out of business within six months following a breach.   PROTECTING AGAINST RANSOMWARE ATTACKS One of the first steps small- and mid-size businesses should take to protect themselves against ransomware attacks is understanding how these scams begin. Countless studies have found that the most common ways criminals access victims’ systems are 1) phishing scams, in...

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24 Jun
Uncategorized

ECB publishes first progress report on digital euro preparation phase

ECB designing high privacy standards to make online and offline digital payments as close as possible to cash transactions ECB started work on designing methodology for calibrating digital euro holding limits ECB continues to provide technical input to legislative discussions with European co-legislators The European Central Bank (ECB) today published its first progress report on the digital euro preparation phase, which was launched on 1 November 2023 with the aim of laying the foundations for the potential issuance of a digital euro. The...

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24 Jun
Uncategorized

European Council | 14th package of sanctions on Russia’s war of aggression against Ukraine: EU lists additional 69 individuals and 47 entities

As part of the comprehensive fourteenth package of sanctions adopted earlier today, the Council decided to impose restrictive measures on an additional 69 individuals and 47 entities responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. Today's new listings target several businesspersons, propagandists and public figures, members of the army and the judiciary, persons responsible for deportation of Ukrainian children, as well as members of the Federal Security Service of the Russian Federation (FSB) involved in religious persecution in...

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24 Jun
Member News

EIB Board of Directors approves €12.8 billion new financing for transport, energy and business investment

€5 billion for high-speed rail, urban transport and upgrading ports €2.6 billion for onshore wind, upgrading electricity grids, small scale renewables and biofuels €2.9 billion for urban development, education, housing, health and water €2.1 billion for corporate innovation, steel and semiconductor business financing The Board of Directors of the European Investment Bank (EIB) today approved €12.8 billion of new financing to upgrade sustainable transport, increase renewable energy use, build new student housing, improve earthquake and flood protection, and help...

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