Economy

Dutch Universities Plunge into the Red with Losses of €105mn

October 14, 2024

Dutch Universities Plunge into the Red with Losses of €105mn

The 14 largest Dutch universities collectively suffered losses amounting to €105.3 million last year, driven by rising personnel and accommodation costs, according to an EY report. The financial outlook for 2024 is also grim, with an expected loss of €257.2 million.

UK Investment Summit Lands Record-Breaking £63bn, 38,000 Jobs

October 14, 2024

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UK Investment Summit Lands Record-Breaking £63bn, 38,000 Jobs

The UK's International Investment Summit 2024 secured a record-breaking £63 billion in private investment, more than double last year's figures, alongside creating nearly 38,000 jobs across infrastructure, tech, renewables, and life sciences. Major investments include £6.3 billion in UK data centres and £200 million for port infrastructure.

Albania’s Prime Minister Foresees Progress on CEFTA for Western Balkans

October 13, 2024

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Albania’s Prime Minister Foresees Progress on CEFTA for Western Balkans

Albanian Prime Minister Edi Rama expressed optimism about advancing the Central European Free Trade Agreement (CEFTA) for the Western Balkans, viewing it as a critical step toward Albania’s goal of joining the European Union by 2030.

Serbian Section of Budapest-Belgrade Railway to Open in November

October 11, 2024

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Serbian Section of Budapest-Belgrade Railway to Open in November

The Serbian section of the Budapest-Belgrade railway line, connecting Belgrade to Subotica, will commence operations on November 24, a year ahead of schedule, marking a significant milestone in the project aimed at reducing travel time between the Serbian and Hungarian capitals to under three hours.

France to Cut EV Purchase Assistance by a Third, Tighten Emissions Penalties

October 11, 2024

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France to Cut EV Purchase Assistance by a Third, Tighten Emissions Penalties

The French government has announced plans to reduce subsidies for electric vehicle (EV) purchases by a third and increase penalties for high-emission vehicles as part of its 2025 budget, reflecting lower costs for EVs and their growing market share.

Ireland Plans to Invest €13bn Apple Tax Windfall in Infrastructure

October 10, 2024

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Ireland Plans to Invest €13bn Apple Tax Windfall in Infrastructure

Ireland will invest €13 billion from Apple’s back taxes into housing, energy, water, and transport infrastructure, as outlined by Finance Minister Jack Chambers in a pre-election budget speech. This follows a European Court of Justice ruling, marking a "transformational" opportunity for the country's long-term development.

Kosovo Lifts Ban on Serbian Products at Border

October 8, 2024

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Kosovo Lifts Ban on Serbian Products at Border

Kosovo has lifted a 16-month ban on the entry of Serbian products at one of its key border crossings, aiming to foster reconciliation between the two Balkan nations. The move follows Western diplomatic pressure and security concerns related to potential weapons smuggling disguised as trade.

Portugal Softens Tax Cut Plans for 2025 Budget

October 6, 2024

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Portugal Softens Tax Cut Plans for 2025 Budget

Portugal’s centre-right government has adjusted its tax cut proposals in a bid to gain support from the opposition Socialists and ensure the approval of the 2025 budget. The softened plan aims to balance benefits across income levels, particularly for younger workers, and reduce the overall cost of the measures.