Uncategorized

New EU forest strategy for 2030

To improve the quantity and quality of EU forests Forests are essential for our health and wellbeing, and the health of the planet. They are rich in biodiversity and are hugely important in the fight against climate change. The new EU forest strategy for 2030 is one of the flagship initiatives of the European Green Deal and builds on the EU biodiversity strategy for 2030. The strategy will contribute to achieving the EU’s biodiversity objectives as well as greenhouse gas emission reduction target of at...

Read more

Uncategorized

Copernicus: 2020 warmest year on record for Europe; globally, 2020 ties with 2016 for warmest year recorded

Air temperature at a height of two metres for 2020, shown relative to its 1981–2010 average. Source: ERA5. Credit: Copernicus Climate Change Service/ECMWF Latest data released by the Copernicus Climate Change Service show that globally 2020 was on par with the warmest year ever recorded, marking the end of the warmest decade on record, while CO2 concentrations continue to rise. The Copernicus Climate Change Service (C3S) today reveals that globally 2020 was tied with the previous warmest year 2016, making it the sixth in...

Read more

Uncategorized

IMF | Glaciers of Global Finance: The Currency Composition of Central Banks’ Reserve Holdings

The currencies that are being held by central banks as foreign exchange reserves have remained largely steady over decades. Changes in the composition of these holdings can, at best, be described as glacial in pace. But geopolitical shifts and technological revolutions are reshaping the global economy and the international use of currencies. These forces, and the fallout from the COVID-19 pandemic, could further accelerate the transformations in the reserve holdings of central banks. 'Financial links seem to be a key driver...

Read more

Uncategorized

test

The European American Chamber of Commerce® hosts a wide variety of events, from in depth macro economic, legal and financial panel discussions featuring industry leaders, to smaller round table discussions on matters that directly affect individual small and medium size business. Our educational seminars, roundtables, panel-discussions and conferences are designed to educate our membership and the Tri-State region business community on matters relevant to both the US & European business communities. They provide a platform to exchange ideas and network...

Read more

Uncategorized

EU Bank launches ambitious new climate strategy and Energy Lending Policy

The board of the European Investment Bank (EIB) today agreed a new energy lending policy and confirmed the EIB’s increased ambition in climate action and environmental sustainability. “Climate is the top issue on the political agenda of our time,” said EIB President Werner Hoyer. “Scientists estimate that we are currently heading for 3-4°C of temperature increase by the end of the century. If that happens, large portions of our planet will become uninhabitable, with disastrous consequences for people around the...

Read more

Member News, Uncategorized

Markets Await Deal or Commitment to Less Tariffs

By Amy Chin, Executive Director, Tempus FX The U.S. Dollar remained in tight ranges over the long weekend here in America as global markets are in dull wait-to-see mode. With earnings already reported and central bank action coming with no major changes, all eyes will be focused on trade headlines and any change in tension in places like Hong Kong and London with a lot at stake. Without definite details, expect quiet with reaction to any developments. There will be data...

Read more

Brexit News, Member News, News, Uncategorized

Vulcan Insight: Analysis of the latest EU Developments 2 – 6 September

Another tumultuous week in Westminster In case there was any doubt, the resumption of business in the House of Commons this week was anything but normal. Boris Johnson’s debut as Prime Minister was marked with defeat in all three Brexit votes, leading to the rapid loss of his working majority. Keep reading Dublin braces for Brexit damage Events in Westminster this week have dominated the political agenda in Dublin as the government ramps up its preparations for a No Deal Brexit. The Irish...

Read more

Chapter News, News, Uncategorized

Minimum wages have increased across Europe, but will low-wage workers feel the difference?

Publication by Eurofound, June 4, 2019 There have been wage increases for minimum and low-wage earners in most EU Member States, with rises in statutory minimum wages in almost all countries since January 2018; including significant increases in Lithuania, Spain, Greece and low-wage newer Member States. While these increases are welcomed as good news for minimum wage workers, Eurofound’s research shows workers may not automatically feel the positive impacts of these changes in terms of income and reductions in wage...

Read more

Chapter News, News, Trade & TTIP Related, Uncategorized

Extra-EU trade in goods by invoicing currency – Euro was the most used currency for EU exports and US dollars for EU imports in 2018

Brussels, 20 May 2019 Goods imported and exported by the European Union (EU) can be invoiced in a range of currencies. In 2018, the euro was the most used currency for EU exports with a share of 48% of the total value of goods exported to non-EU countries and a share of 35% invoiced in US dollars. The picture was reversed for imports, with 56% of imports paid in US dollars and around a third in euros (35%). For total trade...

Read more

Chapter News, News, Uncategorized

Capital markets union: Council adopts updated rules for financial derivative products and clearing

Press Release, 5/14/2019 The EU will soon have in place simplified rules for non-financial counterparties, small financial counterparties and pension funds using financial derivative products. The Council today adopted a regulation improving the existing regulatory framework applying to the over-the-counter (OTC) derivative market. The European Market Infrastructure Regulation (EMIR), adopted in 2012, forms part of the European regulatory response to the financial crisis, and specifically addresses the problems encountered in the functioning of the OTC derivatives market during the 2007-2008 financial crisis. The...

Read more