Economy

Algeria Strengthens Energy Ties with Bosnia and Herzegovina
February 11, 2025
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Algeria Strengthens Energy Ties with Bosnia and Herzegovina

A high-level delegation from Bosnia and Herzegovina (BiH), led by Minister of Energy, Mining, and Industry Vedran Lakić, is visiting Algeria to enhance bilateral cooperation in the energy sector. The discussions focus on strengthening partnerships in renewable energy, infrastructure, and strategic energy projects.

France Secures €109 Billion in AI Investments at Paris Summit
February 11, 2025
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France Secures €109 Billion in AI Investments at Paris Summit

France will unveil private sector investments totaling €109 billion ($112.5 billion) in artificial intelligence during the Paris AI Summit. President Emmanuel Macron highlighted contributions from Brookfield and the United Arab Emirates, which will fund AI infrastructure, including data centers.

Poland Aims to Surpass Western Economies with Record Investments
February 11, 2025
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Poland Aims to Surpass Western Economies with Record Investments

Poland is set to invest over 650 billion zlotys (€155 billion) in 2025, with projections possibly reaching 700 billion zlotys (€167 billion). Prime Minister Donald Tusk outlined plans to strengthen Poland’s position in Europe through investments in logistics, green energy, and AI.

EU Offers to Cut Car Tariffs in Bid to Avoid Trade War With Trump
February 9, 2025
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EU Offers to Cut Car Tariffs in Bid to Avoid Trade War With Trump

The European Union is considering lowering import tariffs on U.S. cars from 10% to closer to the 2.5% U.S. rate in an effort to prevent a trade war with Donald Trump. The EU also plans to increase purchases of U.S. liquefied natural gas (LNG) and military equipment to ease tensions. The proposal, backed by the European car industry, aims to reduce the EU’s trade surplus with the U.S., which Trump has frequently criticized. However, if negotiations fail, the EU is prepared to retaliate with measures targeting U.S. tech and financial firms under its new Anti-Coercion Instrument (ACI).

Bank of England Cuts Interest Rates and Lowers UK Growth Forecast
February 6, 2025
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Bank of England Cuts Interest Rates and Lowers UK Growth Forecast

The Bank of England has cut interest rates to 4.5% the lowest level in over 18 months while halving its growth forecast for 2025 from 1.5% to 0.75%. The rate cut aims to support economic recovery, but inflation concerns and rising business costs remain. Prime Minister Keir Starmer acknowledged the weak outlook, pledging to focus on infrastructure and housing to drive growth. Meanwhile, businesses have criticized Chancellor Rachel Reeves' tax policies, arguing that higher employer National Insurance contributions will hinder investment.

Finland Proposes Major Infrastructure Projects to Boost Trade and Security
February 6, 2025
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Finland Proposes Major Infrastructure Projects to Boost Trade and Security

The Confederation of Finnish Industries (EK) has proposed a bridge-tunnel connection from Finland to Sweden, calling for a feasibility study to be launched during the current government term. The proposal is part of a broader transport infrastructure review, which also includes a Helsinki-Tallinn tunnel and EU-gauge rail connections to northern Finland. EK argues that stronger transport links are essential for economic growth, foreign trade, and national security, particularly given recent acts of sabotage in the Baltic Sea. The initiative could take decades to complete, with major construction expected to extend into the 2040s and 2050s.

Norway Set to Become First All-Electric Vehicle Nation
February 6, 2025
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Norway Set to Become First All-Electric Vehicle Nation

Norway is set to become the first country in the world to phase out new gasoline and diesel car sales entirely, as 96% of new car sales in early 2025 were electric. The country, which has vast oil and gas reserves, has positioned itself as a global leader in sustainable transportation, with electric vehicle (EV) sales skyrocketing from less than 1% in 2010 to nearly 89% in 2024. Officials attribute this success to long-term policies supporting EV adoption, including tax exemptions, charging infrastructure investments, and access to bus lanes.

EU to Tighten Controls on Shein and Temu
February 5, 2025
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EU to Tighten Controls on Shein and Temu

The European Commission is introducing stricter customs controls on online retailers such as Shein and Temu, targeting unsafe and counterfeit products. The EU also plans to phase out tax exemptions on parcels under €150 (£125), which currently allow billions of low-cost imports from China to enter duty-free. The crackdown follows a surge in non-compliant products, raising concerns over consumer safety, environmental impact, and unfair competition for European businesses.

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