New customs rules come into force on Sunday 1 May that will make life simpler for businesses that trade in Europe and better protect consumers against illegal and counterfeit goods. The new Union Customs Code (UCC) represents a major overhaul of existing EU customs legislation, which dates back to 1992. It is a milestone for the European Customs Union, the framework which allows more than €3 trillion worth of goods to flow in and out of the EU each year. The...

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The EIB Group, formed by the European Investment Bank (EIB) and European Investment Fund (EIF), is providing EUR 100 million for a private equity fund designed to support investment in midcaps mainly in the technology and industry sectors. With a first closing of EUR 400 million, the fund has also attracted a EUR 100 million participation by the Centre for Technological and Industrial Development (CDTI) as well as private investment. This is the first operation signed in Spain in 2016 under...

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In the debate with Commission Vice-President Maroš Šefčovič the EESC stressed the importance of establishing an intelligent, efficient and sustainable EU external energy policy and the need for a shared vision – rather than mere technical/administrative reporting - to ensure that the Energy Union objectives are effectively pursued. There should be a greater focus on the social dimension of the Energy Union according to the EESC's opinion on the State of the Energy union 2015 (Rapporteur:  Stephane Buffetaut, Employers' Group)...

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On the heels of World Intellectual Property Day, the Office of the United States Trade Representative (USTR) has released the 2016 “Special 301” Report on the global state of intellectual property rights protection and enforcement. U.S. Trade Representative Michael Froman was joined by Members of Congress and the American business community in order to unveil the report, which is the last that will be released during the Obama Administration. “Intellectual property is a critical source of economic growth and high-quality...

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Benchmark interest rates that are critical to financial market stability across Europe, such as the London Interbank Offered Rate (LIBOR) and the Euro Interbank Offered Rate (EURIBOR), will become more reliable thanks to a new law voted in by Parliament on Thursday. This law aims to clean up the benchmark-setting process, improve transparency, and prevent conflicts of interest like those that led to the LIBOR rigging scandals of recent years. "This law should put an end to manipulation of benchmarks...

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The High Representative and the European Commission set out an integrated response to the challenges of the Arctic. The High Representative for Foreign Affairs and Security Policy and the European Commission have today adopted a policy proposal that will guide the actions of the European Union in the Arctic region. The European Union will step up its existing action and engagement in the region with 39 actions focussing on climate change, environmental protection, sustainable development and international cooperation. The particular...

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The way in which creative works are produced, distributed and enjoyed around the world has been reimagined as a consequence of digital technology, the head of the United Nations World Intellectual Property organization (WIPO) said today. In a message marking World Intellectual Property Day, whose theme this year is Digital Creativity: Culture Reimagined, WIPO Director General Francis Gurry stressed that that the Day, which is celebrated each year on 26 April, is an opportunity to celebrate the creators and innovators...

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Robots are increasingly becoming more important. Not only are they being used in areas such as medicine, agriculture and manufacturing, they are now also capable of driving cars and piloting drones. However, their increasing use and expanding capabilities have significant implications. On 21 April Parliament's legal affairs committee held a hearing to discuss with experts the issues involved, such as safety, liability and risk management. Increasing importance More and more appliances are now able to operate interactively and autonomously to some...

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The Commission is today taking stock of the progress made in the first six months since the adoption of the Capital Markets Union Action Plan and it is publishing the first CMU status report. The Capital Markets Union is an important element of the Commission's priority strategy to support jobs, growth and investment and is a key building block of the Investment Plan for Europe. The objective of the Capital Markets Union (CMU) is to diversify and amplify sources of...

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