Economy

UK Economy to Outpace Japan, Italy, and Germany in 2024, Says OECD
September 25, 2024
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UK Economy to Outpace Japan, Italy, and Germany in 2024, Says OECD

The OECD has revised its forecast, projecting the UK’s economy to grow faster than Japan, Italy, and Germany in 2024. Despite the improvement, the UK is still expected to experience the highest inflation among G7 countries.

Slovak government plans €200mn port upgrade in Bratislava.
September 24, 2024
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Slovak government plans €200mn port upgrade in Bratislava.

The Slovak government, led by Robert Fico, is planning a major modernisation of Bratislava’s river ports, with costs projected to exceed €178 million. The government hopes to secure EU funding linked to Ukraine’s post-war reconstruction efforts, as the ports could play a key role in transporting goods needed for rebuilding Ukraine.

Türkiye Cancels Plans to Tax Stock and Crypto Gains
September 24, 2024
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Türkiye Cancels Plans to Tax Stock and Crypto Gains

Türkiye has canceled its plans to introduce taxes on stock market and cryptocurrency gains, according to Vice President Cevdet Yılmaz. The decision is expected to ease concerns among investors, as the government shifts its focus toward revising tax exemptions and stabilizing public finances amid high inflation.

Croatia to Shift Tax Burden to Property to Address Housing Crisis
September 23, 2024
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Croatia to Shift Tax Burden to Property to Address Housing Crisis

Croatia plans to shift its tax burden from individuals to property in an effort to address rising real estate prices and rents. Finance Minister Marko Primorac announced the new tax legislation, set to take effect in 2025, which will primarily target apartments while exempting properties used for agriculture, production, and services.

Lelylijn to Cost €10bn More Than Expected but Promises Homes and Jobs
September 23, 2024
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Lelylijn to Cost €10bn More Than Expected but Promises Homes and Jobs

The cost of constructing the Lelylijn railway, a major infrastructure project in the Netherlands, has surged to €13.8 billion, far exceeding the original budget of €3 billion. Despite the increase, proponents argue that the railway will bring significant economic benefits, including 100,000 new homes, 70,000 jobs, and reduced travel time between Groningen and Amsterdam.

Northvolt to Cut 1,600 Jobs Amid Electric Vehicle Industry Struggles
September 23, 2024
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Northvolt to Cut 1,600 Jobs Amid Electric Vehicle Industry Struggles

Swedish battery manufacturer Northvolt is cutting 1,600 jobs due to challenges in the electric vehicle (EV) sector. The job cuts will affect three key sites, including its flagship factory in Skellefteå. The company cited "headwinds" in the industry as the reason for halting expansion and implementing cost-cutting measures.

Albania Enforces Law to Curb Medical Graduate Emigration
September 23, 2024
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Albania Enforces Law to Curb Medical Graduate Emigration

Albania's parliament has passed a new law requiring medical students to work in the country for at least three years after graduation or repay the full cost of their tuition. The move aims to prevent the mass emigration of medical professionals, though critics argue that improving working conditions is a more sustainable solution.

Serbia to Reinstate Compulsory Military Service After 14 Years
September 22, 2024
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Serbia to Reinstate Compulsory Military Service After 14 Years

Serbia's government has decided to reintroduce compulsory military service, 14 years after it was abolished. President Aleksandar Vucic hailed the move as crucial for improving national defense, though some military experts have raised concerns about its effectiveness. The service will involve 60 days of training and 15 days of exercises for men, while remaining voluntary for women.

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