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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01 Jul
Member News

Jaguar Freight | The Weekly Roar – Top Shipping News

In this week’s Roar: Worsening congestion in Singapore, the ILA labor talks, a shortage of containers, the rise in cargo theft, and the growing use of automation in logistics. Congestion at Singapore’s container port is at its worst since the pandemic, underscoring the global impact of rerouting vessels to avoid attacks by Houthi pirates in the Red Sea. The congestion is impacting manufacturers, retailers, and consumers as shipping times and costs increase. Singapore has seen a 22% increase in its average...

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28 Jun
Chapter News

European Commission | Opening remarks by President von der Leyen at the joint press conference with President Michel and Belgian President De Croo following the meeting of the European Council of 27 June 2024

Dear Charles, dear Alexander, I want to start by thanking you, dear Alexander, for an exceptionally successful Presidency of the Council. You have managed to reach political agreement on over 45 files spanning all of our major political priorities. It goes from the European Green Deal to digitalisation, from industry and the economy to enlargement. I think two proposals were exemplary, that is the Net-Zero Industry Act and the new Economic Governance Framework. But you also steered the first ever agreement on...

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28 Jun
Chapter News

Council of the EU | Russia’s war of aggression against Ukraine: EU lists two individuals and four entities for circumventing EU sanctions and materially supporting the Russian government

The Council today decided to impose restrictive measures against two individuals and four entities responsible for actions undermining or threatening the territorial integrity, sovereignty and independence of Ukraine. The Council is listing Dmitry Beloglazov, and his company LLC Titul. Dimitry Beloglazov is responsible for setting up a complex circumvention scheme together with Oleg Deripaska, who is already subject to EU restrictive measures. His company LLC Titul created a subsidiary called Joint Stock Company Iliadis to acquire Oleg Deripaska’s share in the International LLC Rasperia...

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28 Jun
Member News

Thompson Hine | OFAC and BIS Significantly Extend Sanctions and Export Control Restrictions Against Russia and Belarus

Key Notes: New sanctions and export controls on Russia and Belarus became effective June 12, 2024. New OFAC prohibition on certain IT and software services to Russia begins September 12, 2024. Hundreds of individuals and entities designated as SDNs for supporting Russia’s war efforts. New license requirements for certain software exports to Russia and Belarus become effective September 16, 2024. BIS narrows License Exception Consumer Communications Devices (CCD) for Russia and Belarus. BIS adds high-risk addresses and more entities...

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