EU economies hit by collapse in investment, data reveals

Most European Union (EU) countries have been hit by a collapse in investment in past decade, Eurostat, the EU’s statistical agency, data published May 14 reveals. The data revealed that capital investment, gross fixed capital formation, has fallen dramatically in 24 of the 28 member states in the 2007-2017 period and investment decreased on average […]

EU proposes to spend more post-Brexit budget, but triggers battles

By Chukwuemeka Obioma The European Union has proposed a bigger new multi-year budget that will trigger battles among member states over how to fill the funding gap left by Britain’s exit next year. During the 2021-27 period, the EU would trim the biggest single item, farm subsidies, by five percent and wants a new plastics […]

Tech Giants to face 3% tax on revenue under new EU plan

Large digital companies operating in the European Union, such as Alphabet Inc. or Twitter Inc., could face a 3 percent tax on their gross revenues based on where their users are located, according to a draft proposal by the European Commission. The draft circulated Friday according to Bloomberg outlines how a targeted levy on gross […]

European banking authority to review crypto regulation

The European Banking Authority (EBA) is to review the regulation of cryptocurrencies in the region, after hearing fresh concerns about digital assets’ vulnerability to money laundering and terrorist financing. Virtual currencies like bitcoin have been attracting increased scrutiny in recent months amid wild price swings. In February, the EBA, European Securities and Markets Authority and […]

Global demand for Russian-built nuclear power plants rises

Russia’s state nuclear corporation Rosatom expects to sign foreign contracts worth $26 billion this year for the construction and maintenance of nuclear power plants, official data shows. According to its results for 2017, Rosatom’s portfolio of foreign orders for the next decade totals $133.6 billion. The company traditionally calculates its portfolio of orders for a […]

U.K. industry output jumps amid oil rebound, record factory run

U.K. industrial production posted its biggest monthly increase in more than a year in January, figures Friday showed. The 1.3 percent gain from December came as factory output rose for an unprecedented ninth consecutive month and oil production rebounded following the reopening of a key North Sea pipeline. Manufacturers are benefiting from a synchronized global […]

EU palm oil curbs may stall France-Malaysia $2bn jet deal

Malaysia, the world’s No.2 producer of palm oil Thursday said if the European Union does not rescind its decision to curb the importation of palm oil, France’s hopes of winning a $2 billion fighter jet deal with it would be impacted. According to a Reuters’ report, France’s Rafale jet, built by Dassault Aviation (AVMD.PA), had […]

We will regulate bitcoin if risks are not tackled- EU finance head

The European Union has warned that it will regulate cryptocurrencies if the risks exposed by the meteoric rise of bitcoin and its ilk are not addressed. The boom and bust of cryptocurrencies have seen some investors make millions where others have suffered heavy losses. Bitcoin, which now trades at about $9,000 (£8,000) a token but recently dropped to less […]

Swiss jobless rate stays at 8-month high of 3.3%

Swiss unadjusted unemployment rate came in at 3.3 percent in January of 2018, the same as in the prior month but slightly below market consensus of 3.4 percent. It remained the highest jobless rate since April 2017. In January, there were 149,161 unemployed persons enrolled at the regional employment centers, about 2,507 more persons than […]