European Union justice ministers have on October 7 in Luxembourg discussed how to ensure efficient data protection benefitting citizens and businesses and approved an agreement regarding a Directive on the protection of the euro and other currencies against counterfeiting by criminal law, which is one of Lithuanian Presidency priorities in the area of justice. Discussing the data protection reform, ministers presented their positions on the so-called “one-stop-shop” principle, which is one of the key issues in the proposal for a...

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Transition in the patterns of global growth between advanced and developing economies Transition toward different kind of financial sector Stepped up international collaboration critical Countries will need to adopt strong national policies and work together even more closely to manage new transitions under way in the global economy, IMF Managing Director Christine Lagarde said in a speech at George Washington University ahead of the 2013 World Bank-IMF Annual Meetings. Two transitions—economic and financial Lagarde highlighted two new transitions: one in the pattern of economic...

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Following the Workshop on Crowdfunding organised on 3 June 2013 in Brussels, the European Commission has today launched a consultation inviting stakeholders to share their views about crowdfunding: its potential benefits, risks, and the design of an optimal policy framework to untap the potential of this new form of financing. Commissioner for Internal Market and Services Michel Barnier said: "Crowdfunding – this alternative form of fundraising that is collective, participatory and interactive – is becoming increasingly important. It has the...

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'Industrial policy is back!’ This is the message given in the European Commission’s October 2012 communication on industrial policy (COM(2012) 582 final), which seeks to reverse the declining role of the manufacturing industry, and increase its share of European Union GDP from about 16 percent currently to above 20 percent. Historical evidence suggests that the goal is unlikely to be achieved. Manufacturing’s share of GDP has decreased around the world over the last 30 years. Paradoxically, this relative decline...

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The European Commission has proposed to create a new scoreboard to allow for better and earlier identification of major employment and social problems in the framework of the European Semester, the EU's yearly economic policy-making cycle. Further involving trades unions and employers at both the EU and national level in the definition and implementation of policy recommendations during the European Semester, making better use of EU and national budgets to alleviate social distress and removing barriers to job mobility are...

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"REFIT - Fit for growth" – Commission takes ambitious next steps to make EU law lighter Whereas regulation at EU level is essential in many areas, it is often accused of stifling businesses, especially the smallest ones, or of interfering too much in citizens' daily lives. 74% of Europeans believe that the EU generates too much red tape.1 In response to that concern, the Commission has made a concerted effort over the past few years to streamline legislation and reduce...

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Cornell NYC Tech Announces Launch of Connective Media Degree at its Jacobs Technion-Cornell Innovation Institute in Collaboration with Leading Traditional and New Media Companies. Incubator and Educational Space in DUMBO Will Support and Train Creative Professionals as the Next Generation of Digital Storytellers Mayor Michael R. Bloomberg today announced two major initiatives to help New York City maintain its position as media capital of the world in the digital age: the launch of Cornell NYC Tech’s degree program in Connective...

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The U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy and U.S. Citizenship and Immigration Services are jointly issuing this Investor Alert to warn individual investors about fraudulent investment scams that exploit the Immigrant Investor Program, also known as “EB-5.” The U.S. Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy and U.S. Citizenship and Immigration Services (“USCIS”) are aware of investment scams targeting foreign nationals who seek to become permanent lawful U.S. residents through the...

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On the second day meeting of the EU Competitiveness Council on September 27, The EU research ministers focused on innovations as the core of the Europe’s competitiveness. The meeting was chaired by the Lithuanian Minister of Education and Science Dainius Pavalkis. „It is very important to stress, that making progress toward the goals of the Innovation Union is crucial to our future. Ensuring that innovative ideas are turned into products and services which will create growth and jobs – would...

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While industrial performance has stabilised, industry’s share in Europe’s GDP has declined from 15.5% of GDP one year ago to 15.1% in summer 2013. The two industrial Competitiveness reports published today by the European Commission highlight that Member States have made progress in improving the business environment, exports and sustainability. However, many problems still remain. The convergence between industrially most competitive countries and the moderate performers is at a standstill. Moreover, the cost of energy is increasing in almost all...

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