Eu Financial News

Asia-Pacific should accelerate this year to 4.5%. But IMF estimate for growth next year has been lowered to just over 4%, based on signs of slowing growth and investment in Q3.

The European Union (EU) data protection agencies have flagged possible areas concerning user privacy exposures of the proposed digital euro.

adopted a roadmap for regulating crypto assets proposed by the Financial Stability Board (FSB) and the IMF at their meeting at Morocco. As of now, crypto assets are unregulated under EU securities rules and the ESMA has made it clear that the investors would not benefit from any EU-level regulatory safeguards under the new rules — referred to as MiCA — until Dec 2024. “Even with the implementation of MiCA, retail investors must be aware that there will be no such thing as a ‘safe’ crypto asset," the EU watchdog said in a statement.

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The United Kingdom will be hosting the world’s inaugural international summit on artificial intelligence (AI) safety in November 2023. This event seeks to establish the U.K.’s presence as a mediator between the United States, China and the European Union in the critical field of technology post-Brexit.

The eighth iteration of the Directive on Administrative Cooperation (DAC8), a cryptocurrency tax reporting rule, was formally adopted by the Council of the European Union on Oct. 17. The regulation will enter into force after it's published in the Official Journal of the EU. 

sugar has been extended beyond October 31, according to the notification. «This restriction is not applicable to sugar being exported to EU and USA under CXL and TRQ quota as per prescribed procedure in the respective public notices,» said the notification. India, world's second-largest sugar exporter last year had placed sugar in a restricted category until October 31, 2023 'to prevent uncontrolled export of sugar and with a view to ensure sufficient availability of sugar for domestic consumption at a reasonable price.' India allowed mills to export only 6.1 million tonnes of sugar during the current season ending on September 30, after letting them sell a record 11.1 million tonnes last season. Monsoon rains in the top sugarcane growing districts of the western state of Maharashtra and the southern state of Karnataka, which together account for more than half of India's total sugar output, have been as much as 50% below average so far this year, weather department data showed. India's sugar production could fall 3.3 per cent to 31.7 million tonnes in the 2023/24 season, the Indian Sugar Mills Association (ISMA) said. The last time India imposed a 20 per cent tax on sugar exports to curb overseas sales was back in 2016.

Big Tech player Google is seeking to dismiss a proposed class-action lawsuit that claims it’s violating the privacy and property rights of millions of internet users by scraping data to train its artificial intelligence models. 

European crypto investors will have to wait a little longer for the full provisions of Markets-in Crypto Assets (MiCA) to kick in, according to the European Securities and Markets Authority (ESMA).

The European Union’s financial regulatory landscape is in flux with the introduction of multiple Anti-Money Laundering (AML) directives and related laws. These regulations, although designed to protect the financial system, come at a hidden, and sometimes steep, cost to consumers and financial institutions alike. It’s imperative to understand their wider implications, and to question whether the costs — both monetary and ethical — are simply too high.

Hungarian Prime Minister Viktor Orbán has held talks with Vladimir Putin in a rare in-person meeting for the Russian president with a leader of a European Union country

Poland’s voters delivered a clear verdict

China is hosting its third international forum centered around President Xi Jinping’s signature policy, the Belt and Road Initiative, which over the past 10 years has built infrastructure across continents, burdening some smaller countries with debt

Cryptocurrency investors in Europe are not yet protected under European Union cryptocurrency asset market rules, and it will take some time for the protections to take effect.

By Huw Jones

A populist former prime minister of Slovakia who plans to end the country’s military support for Ukraine has signed a coalition agreement with the leaders of two other parties to form a new government

Hamas rocket attack on Israel that has killed over 1,200 people and left many injured. The philanthropy, chaired by Leslie Wexner and Abigail Wexner, wrote a letter to the Harvard Board of Overseers.

Last week, the FTX court saga had elements of a TV drama, with Sam “SBF” Bankman-Fried’s former business associate and girlfriend, Caroline Ellison, sharing some shocking stories about SBF’s rule over the company. Ellison admitted to fraud during her time as CEO at Alameda under Bankman-Fried’s direction. However, she blamed the misuse of FTX user funds directly on SBF, claiming he “set up the systems” that led to Alameda taking roughly $14 billion from the exchange.

TIRANA (Reuters) — The European Union wants to bring six Western Balkan countries closer to membership of the bloc but wants them first to implement reform and create their own single market, European Commission President Ursula von der Leyen said on Monday.

Binance, the world's largest cryptocurrency exchange, has announced its exit from the Russian market, selling its business in the country to CommEX, a newly launched exchange. 

By Philip Blenkinsop