Economy

EU Unveils €2.8bn Automotive Action Plan to Boost Electric Mobility

March 5, 2025

EU Unveils €2.8bn Automotive Action Plan to Boost Electric Mobility

The EU has announced a €2.8bn plan to drive a green transformation of the automotive sector. The package includes purchase incentives to stimulate demand for electric vehicles, measures to decarbonise company fleets, and a three-year averaging mechanism for CO₂ targets to ease compliance. It also promotes e-fuels development and local content in EV components, aiming to balance competitiveness with environmental goals amid rising global pressures

EU Announces $840bn Plan to 'Rearm Europe'

March 5, 2025

Min

EU Announces $840bn Plan to 'Rearm Europe'

The European Commission has unveiled an ambitious initiative to mobilise $840 billion in funding to strengthen defense capabilities across the bloc. President Ursula von der Leyen described the plan as essential to addressing emerging security threats and reducing reliance on US military aid. The proposal includes access to loans of up to €150 billion, a reformed deficit regime to boost defense spending, and a focus on critical areas such as air defense, artillery, drones, and counter-drone technology. The move is designed to help EU member states pool demand and enhance collective security, while also significantly ramping up support for Ukraine.

Eurozone Unemployment Remains Historically Low

March 4, 2025

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Eurozone Unemployment Remains Historically Low

Despite a sluggish economy, the eurozone’s labour market remains resilient with unemployment rates holding at historic lows. Eurostat estimates indicate that the EU unemployment rate was 5.8% in January 2025 and 6.2% for the eurozone, marking four consecutive months of low jobless rates. Although some sectors, particularly manufacturing, show signs of stress and analysts warn of potential future rises in unemployment, improvements in job numbers in countries like Spain and strong overall employment growth have bolstered optimism.

EU Eases Emissions Rules on Petrol Cars to Support Auto Industry

March 3, 2025

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EU Eases Emissions Rules on Petrol Cars to Support Auto Industry

The European Commission has introduced a more flexible framework for reducing CO₂ emissions from new passenger cars and vans, offering the auto industry additional "breathing space" until 2027. While the 2035 ban on petrol cars remains in place, fines for missing stricter emissions targets will be deferred, allowing manufacturers that underperform in one year to catch up in subsequent years. The move aims to align climate protection with industry competitiveness, as European automakers face rising production costs and stiff competition from overseas rivals.

UK to Extend Sick Pay to Low-Paid Workers from Day One

March 3, 2025

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UK to Extend Sick Pay to Low-Paid Workers from Day One

More than one million low-paid workers in the UK will soon receive 80% of their weekly salary as sick pay from the first day of illness, a major change under the new Employment Rights Bill. This policy shift, announced by Work and Pensions Secretary Liz Kendall, aims to ensure that workers never have to choose between their health and their livelihood. However, critics warn that the measure could lead to increased absenteeism and create challenges for smaller businesses in managing shift cover.

Portugal’s Unemployment Rate Falls to 6.2%, Lowest in Over Two Years

March 3, 2025

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Portugal’s Unemployment Rate Falls to 6.2%, Lowest in Over Two Years

Portugal’s unemployment rate dropped to 6.2% in January 2025, its lowest level since October 2022, according to provisional figures from Statistics Portugal. The country’s employed population reached its highest level since 1998, while youth unemployment also declined to 19.5%. Proactive government measures including a new migrant employment support programme and streamlined work visa processing are credited with bolstering the labour market amid stable GDP growth.

Nations Agree to Finance Nature Protection with $200bn Annual Investment by 2030

March 3, 2025

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Nations Agree to Finance Nature Protection with $200bn Annual Investment by 2030

In a major breakthrough at the COP16 biodiversity talks in Rome, countries have agreed to secure at least $200bn a year by 2030 to halt and reverse biodiversity loss. The deal, led by BRICS nations, follows a previous setback in Colombia and aims to implement the Kunming-Montreal Global Biodiversity Framework. Key elements include establishing or strengthening a biodiversity fund, setting technical rules for monitoring progress, and committing nations to publish national reports on their biodiversity plans, even as US aid cuts continue to spark concerns.

French Inflation Hits Four-Year Low at 0.8% in February

March 3, 2025

Min

French Inflation Hits Four-Year Low at 0.8% in February

France’s consumer price index fell to 0.8% in February—the lowest level since February 2021—driven largely by a significant drop in electricity prices. This slowdown contrasts with higher inflation rates reported in Germany, Spain, and Italy. Despite the easing in price pressures, economic growth remains sluggish, with a slight contraction in GDP at the end of 2024, though modest rebound expectations persist for spring 2025.

EU Unveils €2.8bn Automotive Action Plan to Boost Electric Mobility

EU Announces $840bn Plan to 'Rearm Europe'

Eurozone Unemployment Remains Historically Low

EU Eases Emissions Rules on Petrol Cars to Support Auto Industry

UK to Extend Sick Pay to Low-Paid Workers from Day One

Portugal’s Unemployment Rate Falls to 6.2%, Lowest in Over Two Years

Nations Agree to Finance Nature Protection with $200bn Annual Investment by 2030

French Inflation Hits Four-Year Low at 0.8% in February

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