At the March Federal Open Market Committee meeting, the Federal Reserve kept the policy interest rate unchanged and reiterated expectations of two rate cuts for 2025. Chairman Powell expressed considerable uncertainty regarding the new administration’s policies, noting heightened risks to growth, employment, and inflation. For commercial real estate (CRE) professionals, while current economic conditions remain robust, it’s important to acknowledge the potential downside risks in the macroeconomic environment that may affect business decisions. Economic Outlook The Federal Reserve's Summary of Economic Projections revealed...

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The Council of Europe Development Bank (CEB) and the European Investment Bank (EIB) deepened their long-standing partnership by signing a Mutual Reliance Agreement today to strengthen co-operation, facilitate co-financing and enhance the impact of public sector projects in countries of operation outside of the European Union. A key element of this approach is the mutual recognition of each institution’s procurement policies and procedures, thus reducing transaction costs and administrative burden. By streamlining project preparation and implementation, the agreement will allow...

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Deep in the rugged landscapes of Norway, a small rover makes its way through the snow. NAL Research’s SHOUT nano and QuickNav devices are attached, providing real-time position reporting while Blue Sky Network’s SkyLink® solution sits atop, enabling live video monitoring and the capacity for command and control (C2) of the vehicle. Inside a nearby building, side-by-side monitors display the video feed and the rover’s location through Blue Sky Network’s secure cloud-based portal, SkyRouter. This demonstration was made possible by the Arctic Warrior Experiment, an event sponsored...

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Different countries have varying tax regulations regarding business travelers and remote workers, and achieving compliance involves navigating these complexities to avoid penalties. Coordination across departments like payroll, tax, finance, HR, and mobility teams is crucial for maintaining compliance and reducing risks associated with globally mobile workers. Understanding the tax implications of globally mobile workers allows for better strategic planning. This includes making informed decisions about where to deploy talent and how to structure international assignments. As the modern workforce...

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IPTI’s usual monthly newsletter - the “President’s Message” - contains, inter alia, some summarised news articles from around the world. This IPTI publication - “Property Tax in the News” - contains some of the more interesting news articles concerning property taxes in North America and Europe which is where many of our members have a particular interest. Links to these and more, similarly summarised, articles - from North America, Europe and around the globe - can be found in...

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European Commission presents Critical Medicines Act to tackle drug shortages On Tuesday, 11 March, European Commissioner for Health and Animal Welfare Olivér Várhelyi introduced the Critical Medicines Act (CMA), sharing that the proposal is needed to ensure the security of supply and availability of essential medicines in Europe. Várhelyi highlighted that the Act builds on the work of the Critical Medicines Alliance and will have a positive impact on EU competitiveness by creating a more stable and predictable market. The Act was initially mentioned in European...

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On 11 March 2025, the EU Council has reached political agreement regarding the proposed amendment to the Directive on Administrative Cooperation to facilitate the filing and exchanging of Pillar Two-related information in the EU (known as DAC9). DAC9 should now be formally adopted by the EU Council and published in the Official Journal of the EU. Once adopted, DAC9 would have to be implemented into national law of EU Member States by 31 December 2025, i.e., six months prior...

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In a recent ruling, the U.S. Court of Appeals for the Federal Circuit upended years of settled law and ruled that sales and marketing expenses, by themselves, can be the basis for a finding of domestic industry in an International Trade Commission (ITC) enforcement action. This decision will make the ITC available to U.S. IP owners who import their goods from overseas and do not have a manufacturing base in the U.S. Lashify, Inc., a U.S.-based company that distributes, markets,...

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