Agriculture: Notable growth in EU agri-food trade continues

Agriculture: Notable growth in EU agri-food trade continues

The latest EU agri-food trade figures published on 4 January show that the total value of EU agri-food trade (exports plus imports) for January-September 2021 amounts to €239.5 billion, a 6.1% increase compared to the corresponding period last year. Exports were 8% higher at €145.2 billion, with imports increasing by 3.5% to reach €94.2bn. This reflects an overall agri-food trade surplus of €51bn for the first nine months of the year, an increase of 17% compared to the same period in 2020. The largest increase in exports were those to the United…

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EU Central banks in the spotlight

EU Central banks in the spotlight

Inflation, pandemic, geopolitics, sustainable finance… Four chief economists of the financial market sat down around a table, at the invitation of Paperjam, and shared their prospective analysis for the year 2022. Apart from inflation, the other issue that worries investors is the extremely low policy rates applied by central banks, which have to play both sides of the fence. The maintenance of monetary and financial equilibrium will largely depend on their decisions. Regular columnists at Paperjam and used to the exercise, Olivier Goemans, portfolio manager, advisory coordinator and head of…

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Two decades on, euro can’t shake reputation as price driver

Two decades on, euro can’t shake reputation as price driver

Europeans have been living with euro banknotes and coins for 20 years now, but many still point the finger at the single currency for covertly driving up consumer prices — despite plenty of evidence to the contrary. “The euro is a catastrophe, it’s catastrophic,” says Maria Napolitano, a 65-year-old Italian living in Frankfurt. “With 100 deutschmarks, you could fill up your shopping trolley. Now, 100 euros aren’t enough to fill two bags.” A deutschmark is roughly 50 eurocents. It’s an impression that is shared by many across the eurozone, from…

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ECB plots stimulus exit as inflation looms

ECB plots stimulus exit as inflation looms

European Central Bank policymakers will gather on Thursday (16 December) for a crunch meeting, as soaring inflation heaps pressure on the bank to wind down its stimulus just as a new coronavirus variant threatens to derail the recovery. The Frankfurt-based institution is expected to confirm the planned end of its massive pandemic-era stimulus plan in March, currently hoovering up around €70 billion worth of assets every month. The €1.85 trillion pandemic emergency bond-buying programme (PEPP) is the ECB’s main crisis-fighting tool, aimed at keeping borrowing costs low to stoke economic…

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New Dutch government under Mark Rutte wants to spend more

New Dutch government under Mark Rutte wants to spend more

The coalition agreement of the new Dutch government under Prime Minister Mark Rutte foresees more spending on childcare, teacher salaries, and environmental issues, showing the increased influence of the centre-left, liberal party D66. Although the coalition agreement remains cautious on EU fiscal rules, the additional spending at home marks a shift away from the frugal image of the Dutch government. In the summer of 2020, the previous Rutte government was one of the staunchest opponents of the EU’s recovery fund, calling instead for fiscal restraint. Stronger D66 leads to more…

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London banking job exodus to EU slows despite Brexit

London banking job exodus to EU slows despite Brexit

The number of finance jobs shifting from Britain to the European Union due to Brexit is less than initially expected despite billions of euros in share trading moving to the bloc and London losing most of its access to EU capital markets, EY consultants said on Monday (20 December). After Britain voted in 2016 to exit the EU, analysts like Oliver Wyman estimated that up to 35,000 financial services jobs or more would leave Britain. Britain fully left the EU last December, ending the City of London’s unfettered access to…

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EU work with OECD to cancel tax benefits for coal-powered plants and equipment manufacturers

EU work with OECD to cancel tax benefits for coal-powered plants and equipment manufacturers

EU collaborates with other OECD countries to propose ban on export credits for coal-fired power projects Organization for Economic Co-operation and Development (OECD) countries hold an extraordinary meeting today (15 September) and Thursday (16 September) to discuss a possible ban on export credits for international coal-fired power generation projects without measures compensation. Discussions will focus on a proposal presented by the EU and other countries (Canada, Republic of Korea, Norway, Switzerland, UK and US) earlier this month. The proposal supports the greening of the global economy and is an important…

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Artel to strengthen position as a leading innovator

Artel to strengthen position as a leading innovator

Artel Electronics LLC (Artel), Central Asia’s leading home appliance and electronics manufacturer and one of Uzbekistan’s largest companies, continues to strengthen its Research and Development (R&D) position to bring new, innovative products to its customers. Artel’s custom R&D centre in Tashkent is one of the most extensive manufacturing research facilities in Central Asia. The centre’s designers, engineers and technicians develop new technologies to advance the next generation of contemporary products for the modern home. The expansion of Artel’s R&D centre is at the heart of the company’s forward-looking strategy. In…

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Heat and power bills may grow 130 euro more next year

Heat and power bills may grow 130 euro more next year

Energy prices could go up by as much as €130 in the coming year for customers with a variable contract, the federal regulator CREG has warned. A variable contract is one where the cost of electricity and gas is adjusted either every month or every quarter, depending on the contract, in keeping with the price movements on the world market. About 40% of Belgian households have a variable contract. The comparison was made by CREG on the basis of prices in the summer of 2019, before the pandemic hit. The…

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Luxembourg receives EU funds to feed poor

Luxembourg receives EU funds to feed poor

Luxembourg received €460,000 in aid from the European Commission to help provide food and basic assistance to poor households as part of coronavirus relief measures. The money forms part of the Fund for European Aid to the Most Deprived (FEAD). It supports member countries to provide food, clothing and other essential items, such as shoes or soap, to those in need. “Between 2014 and 2020, the FEAD in Luxembourg supported 71,640 beneficiaries with an envelope already incurred of some €3.5m,” the Commission said in a statement on 20 August. “The…

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