08 Jul
Member News

Bannockburn Global Forex | Euro is Little Changed, while the Yen is Softer to Start the New Week

Overview: The dollar is narrowly mixed against the G10 and emerging market currencies today. The euro is little changed, holding on to last week's gains, after the surprising French election results, where the focus shifts finding a prime minister that can carry a majority of the new and closely divided National Assembly. Despite firm underlying wage data, the Japanese yen has given back its initial gains, and the dollar is pushing back above JPY161 in the European morning. The Mexican...

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08 Jul
Chapter News

European Commission | Europe’s innovation performance steadily improving but at different speeds between Member States

The innovation performance of the European Union continues to improve at a steady pace, reaching a 10% increase since 2017 and a growth of 0.5% between 2023 and 2024. According to the 2024 edition of the European Innovation Scoreboard (EIS) published today, most EU Member States have boosted their innovation performance, but the increase varies strongly from one to another. Key findings Between 2023 and 2024, the national innovation performance has increased for 15 Member States, while it has declined for another group of 11. Croatia remained stable. Compared to the...

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08 Jul
Member News

Arendt | New rules for highly qualified third-country workers

After bill of law 8304 was exempted from the second constitutional vote, the law of 4 June 2024 amending the amended law of 29 August 2008 on the free movement of persons and immigration (the Law) was published in the Luxembourg Official Journal Mémorial A 261 on 27 June 2024. The Law concerns highly qualified third-country nationals (i.e. from outside the EU) who wish to live and work in Luxembourg under an “EU Blue Card”. The Law implements Directive (EU) 2021/1883  on the conditions of entry and residence...

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08 Jul
Chapter News

ECB | Artificial intelligence: a central bank’s view

Keynote speech by Piero Cipollone, Member of the Executive Board of the European Central Bank, at the National Conference of Statistics on official statistics at the time of artificial intelligence It is a pleasure to be here today to discuss the implications of artificial intelligence (AI) from a central bank’s perspective. The world is witnessing extraordinary advances in the field of AI. We are moving from analytical AI models designed to perform specific tasks to generative AI models capable of creating human-like content. The...

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08 Jul
Member News

Vulcan View: The latest EU developments 1 July – 5 July

Dissecting the results of the French election’s first round On Sunday 30 June, France voted in the first round of crucial snap-parliamentary elections. Emmanuel Macron’s decision to call a snap election in two rounds, on 30 June and 7 July, proved to be a risky move, potentially handing political power to the far right. With so much at stake, voter turnout was unusually high at nearly 67%. The outcome showed patterns similar to the outcome of the recent EU election, with polls predicting a more significant win for the far-right that did not materialize as the...

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03 Jul
Member News

EIB | Vice-President Beer: Water needs huge investment to prevent scarcity during climate change

As temperatures rise, water has become increasingly scarce. Nicola Beer, vice-president of the European Investment Bank, spoke at the German Water Partnership Conference in Berlin, where she also met with experts to discuss solutions to the global water crisis.   Dear Ms Morgan, Ms Röstel, Mr Hannemann, ladies and gentlemen, Safe water supply has been a key issue for the European Investment Bank for decades, so I am very pleased to have been invited to attend your annual meeting today. You and your companies...

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03 Jul
New York Related News

New York State Governor | Governor Hochul Celebrates $40 Million U.S. Department of Commerce Grant to Boost New York’s Growing Semiconductor Sector

Federal Regional Technology and Innovation Hubs Grant Will Support Semiconductor Research, Manufacturing, and Workforce Development Along NY SMART I-Corridor Encompassing Buffalo, Syracuse and Rochester Unlocks Additional $8 Million in State Funding To Grow New York’s Semiconductor Industry Builds on Governor Hochul’s Commitment to Building 21st Century Economy in New York State; Continuing State's Transformation From Rust Belt to Innovation Belt Governor Kathy Hochul today announced that the U.S. Department of Commerce has awarded a phase two Regional Technology and Innovation Hubs (Tech...

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02 Jul
Chapter News

European Commission announces additional €1.2 billion investment package for infrastructure and support to entrepreneurship in the Western Balkans

Today, the European Commission announced the sixth investment package under the EU's Economic and Investment Plan for the Western Balkans that is expected to mobilise €1.2 billion in investments. This package will support eight new flagship investments in water supply and sanitation, wastewater treatment and rail transport, as well as innovation and green transformation in small and medium enterprises. The investments will be rolled out in close cooperation with the Western Balkan partners and international financial institutions. President of the...

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02 Jul
Member News

EIB | EIF and NATO Innovation Fund join forces to unlock private capital for Europe’s defence and security future

European Investment Fund and the NATO Innovation Fund, a venture capital fund backed by 24 North Atlantic Treaty Organization nations, enter partnership. Memorandum of Understanding signed in Brussels sets terms of closer collaboration. Goal is to expand funding for start-ups, SMEs and midcaps in defence, security, and resilience sectors. The European Investment Fund (EIF) and the NATO Innovation Fund (NIF) signed a Memorandum of Understanding (MoU) to cooperate in supporting the long-term growth of the defence, security, and resilience...

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02 Jul
Chapter News

FSB | Evaluation of the Effects of the G20 Financial Regulatory Reforms on Securitisation: Consultation report

The complex structuring and multi-step distribution chains involved in certain securitisation structures in the run-up to the 2008 global financial crisis (GFC) generated misaligned incentives between the originator of a securitisation and its investors. This led to weakened lending standards, while amplifying a rapid and largely undetected build-up of leverage and maturity mismatches. A number of regulatory reforms have since been introduced to improve transparency, address conflicts of interest, strengthen the regulatory capital treatment for banks’ securitisation exposures by...

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