On Wednesday, the European Parliament approved the implementation of the EU’s 2021 budget for most of the EU institutions, except the European Council. Most of the EU’s expenditure is managed by the European Commission, whose budgetary performance was approved by the European Parliament with 421 votes in favour, 151 against and 5 abstentions. In 2021, […]
Read More
Diversity in senior management improves banks
Still, banking is a man’s world. The ECB has noted that more than 300 of the 361 CEO appointments at the significant institutions (SIs) directly under its supervision as well as at their subsidiaries between 2020 and 2022 were men. Additionally, just 36% of newly appointed board members in SIs were women during the same […]
Read More
The European Commission authorizes the acquisition of GACM Spain by AXA Spain
The European Commission has approved under the EU Merger Regulation the acquisition of GACM España, S.A.U. (“GACM España”) by AXA Seguros Generales, S.A. de Seguros y Reaseguros (“AXA Seguros Generales”), both of Spain. The two companies offer insurance products throughout Spain, as well as hospital services in Barcelona and Cantabria. The Commission concluded that the […]
Read More
EU agricultural trade to reach €424.7 billion in 2022
In 2022, the value of trade (imports plus exports) of agricultural products between the EU and the rest of the world reached €424.7 billion, €77.5 billion more than in 2021 (€347.2 billion). The EU exported €229.1 billion worth of agricultural products and imported €195.6 billion, generating a surplus of €33.5 billion. Between 2002 and 2022, EU trade in agricultural products […]
Read More
ECB raises interest rates by a quarter of a percentage point
The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council decided to raise the three key ECB interest rates by 25 basis points. Overall, the incoming information broadly supports the assessment of the medium-term inflation outlook that the Governing Council formed at its […]
Read More
Council and European Parliament agree to protect geographical indications for artisanal and industrial products
The Council and the European Parliament reached today a provisional deal on the regulation for geographical indication protection for craft and industrial products. Once this regulation is finally approved, geographical indications (GIs), which up to now were used mainly for foods and beverages, will be enlarged to industrial products whose qualities are essentially linked to the […]
Read More
EIF and BBVA sign €200M guarantee agreement to support start-up companies
The European Investment Fund (EIF) and BBVA are set to make it easier for startups with innovative and sustainable value propositions to get access to financing. The two institutions have concluded an agreement under the InvestEU guarantee programme whereby the EIF will grant a €200 million guarantee to enable BBVA Spark (BBVA’s specialised startup initiative) […]
Read More
Eurogroup: Ministers discuss progress on the banking union
Main results Banking union and banking sector developments Macroeconomic and financial developments The Eurogroup took stock of macroeconomic and financial stability developments. The Commission and the European Central Bank (ECB) updated ministers on the macroeconomic and financial situation. The chair of the ECB Supervisory Board, Andrea Enria, and the chair of the Single Resolution Board, Dominique […]
Read More
Commission and EIB announce €18M to boost investment in climate actions
The European Commission and the European Investment Bank have announced €18 billion in funding under Global Gateway, Europe’s investment strategy for partner countries. It will stimulate investment in Global Gateway priority areas (climate action, clean energy and connectivity) in European partner countries around the world. In particular, these projects will work to address the global […]
Read More