Free ports and the blockchain come together to speed up seamless trade

Free ports and the blockchain come together to speed up seamless trade

Some say they can boost manufacturing while others claim they are used to launder money and avoid tax. The issue of “free ports” has never been more topical, not least in the post-Brexit era. But are freeports really all they appear to be? What exactly is a free port? Typically, when goods enter a country, they have to follow the import regulations of that country. This often involves a tariff—a tax on those imports. A free port or “free zone” is an area that is inside the geographic boundary of…

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French farmers protest to give ‘first warning to government’

French farmers protest to give ‘first warning to government’

As farmers’ protests calling for a fair income increase across France, farmers will protest on the streets of Île-de-France Friday (2 April) to denounce the reform of the Common Agricultural Policy (CAP). “France, do you still want your farmers?” Those are the words used to describe the protest organised on Friday in the Greater Paris region by the French agricultural union FDSEA. Ile-de-France farmers “attached to the future of their profession” will protest to give a “first warning to the government”, according to a press release from the FDSEA and…

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UK inflation rate falls as clothes prices drop

UK inflation rate falls as clothes prices drop

The UK’s inflation rate unexpectedly fell to 0.4% in February, down from 0.7% in January, as the cost of clothes and second-hand cars tumbled. The Office for National Statistics (ONS) said there had been a rise in the cost of petrol and diesel. But that impact on consumer prices was more than offset by downward pressures, which also included falls in the cost of travel and toys. February is traditionally a month where clothing prices would rise. However, ONS deputy national statistician, Jonathan Athow said: “The impact of the pandemic…

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Donohoe argues sustainability requires ‘timely, temporary and targeted’ fiscal measures

Donohoe argues sustainability requires ‘timely, temporary and targeted’ fiscal measures

The Eurogroup has issued a statement (15 March) on the eurozone’s continuing fiscal response to the COVID-19 crisis, committing to what Eurogroup President Paschal Donohoe described as timely, temporary and targeted measures that would be key to longer-term fiscal sustainability. European Commissioner Paolo Gentiloni underlined his agreement with the Eurogroup statement, saying: “We will not repeat the same mistakes of the last crisis.” Pointing to the growing consensus in Europe and internationally, he said pulling back too quickly would be a policy mistake, and argued that the best way to…

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Commission publishes market access offers of the EU-China investment agreement

Commission publishes market access offers of the EU-China investment agreement

The Commission has published the schedules of commitments agreed under the EU-China Comprehensive Agreement on Investment (CAI), concluded in principle on 30 December 2020. Following the publication of the text of the agreement in January, the publication of market access offers today represents the next steps in the process towards adoption and ratification. They provide the basis for informed political deliberations and public debate. China is a key trading partner for the EU with a fast growing domestic market of 1.4 billion consumers. It is expected to contribute to almost…

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Digitalization is a key to trillion euro reward for the European GDP

Digitalization is a key to trillion euro reward for the European GDP

A new report, Digitalization: An opportunity for Europe, shows how increased digitalization of Europe’s services and value chains over the next six years could boost the European Union’s GDP per capita by 7.2% – equivalent to a €1 trillion increase in overall GDP. The report, commissioned by Vodafone and conducted by Deloitte, looks at the five key measures – connectivity, human capital, use of internet services, integration of digital technology and digital public services – that are measured by the European Commission’s Digital Economy and Society Index (DESI), and reveals that even modest…

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BIL partners up with Candriam for ESG criteria

BIL partners up with Candriam for ESG criteria

To better understand sustainable investment and respond to new European rules in terms of environmental, social and governance (ESG) criteria, lender BIL has called on the expertise of asset manager Candriam, well established in Luxembourg. It has become a European requirement in the investment world. Financial actors, who have an important role to play in the development of sustainable finance, must integrate ESG factors into their analysis and present them clearly to their clients. A major challenge that requires expertise. Rather than acting alone, BIL has therefore decided to partner…

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€4trn gap between ‘Paris-aligned’ bank lending, market

€4trn gap between ‘Paris-aligned’ bank lending, market

European companies must largely step up their efforts to achieve the goals set out in the Paris Climate Agreement, according to a CDP report released on Tuesday. The banks granting them loans must also better align their actions. Despite the promises made to fight against climate change, European companies remain far removed from the Paris Climate Agreement principles. Based on their declared emission targets, they are on a temperature increase trajectory of 2.7°C–that’s 1°C more than the targets set in Paris end-2015. As the CDP report reveals, to limit the global warming increase to 1.5°C would require eight times the current level of ambition by European companies in terms of…

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499,813 workers collected temporary unemployement in January: Onem

499,813 workers collected temporary unemployement in January: Onem

Some 499,813 workers were collecting temporary unemployment in Belgium in January 2021, according to figures published on Monday by the National Employment Office (Onem). That corresponds to a 330.4% jump compared to January 2020 and is explained by the measures against the coronavirus that still keep some sectors slow or even stopped. Compensated unemployment increased by 10.8% on an annual basis. Last January, 366,205 fully compensated unemployed job seekers received an allowance in Belgium, which is 35,650 more than in January 2020.

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Parimatch comments on possible IPO, shares thoughts on the market perspectives with The Times

Parimatch comments on possible IPO, shares thoughts on the market perspectives with The Times

Parimatch, one of the leading bookmakers in xUSSR plans an IPO. Although the date isn’t yet set it may present opportunities for a wide range of investors. The prospects seem amazing as the legislation in Ukraine is getting more favourable. Dominic Walsh from The Times has recently written an article on online bookmaker and IT company from Ukraine, Parimatch. He states, that “she has been dubbed the Ukrainian Denise Coates”. Like the Bet365 chief executive, Katerina Belorusskaya has helped to turn a conservative betting shop business into a cutting edge…

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