Eu Financial News

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Stablecoin use could be "stifled" by daily transaction caps in the European Union's Markets in Crypto-Assets (MiCA) legislation, with some calling for the framework to be revised.

By Michael Holden

Brussels/London | European aluminium producers are warning that a loophole in the EU’s carbon border tax will lead heavily polluting exporters such as China to circumvent the rules and flood the bloc with low cost, emissions heavy metal.

There are two ways of looking at Meta Platforms’ release of a Twitter competitor called Threads. It’s nicely timed to capitalize on growing unease over the way Elon Musk has run Twitter. And it’s also horribly timed, coinciding with the imminent launch of an EU law that strikes at the heart of the way Meta makes money.

By Andrius Sytas

Data privacy has come a long way since the widespread use of technology kicked off in the early 2000s. Now, every click, Tweet and Instagram post makes up a personal data footprint that stands shoulder-to-shoulder with people’s fundamental rights as one of the most valuable assets each individual possesses. 

Chinese Foreign Minister Qin Gang's prolonged absence from public view for 12 days has raised concerns and speculation about his well-being. Qin was scheduled to meet with the European Union's top diplomat, Josep Borrell, this month, but China unexpectedly postponed the meeting without providing further information. There have been rumors in Brussels that Qin's absence might be due to health issues, but Chinese Foreign Ministry spokesman Wang Wenbin stated that he had not heard about such reports during a press briefing in Beijing. The official website of the Chinese Foreign Ministry indicates that Qin's last official engagement was on June 25, where he met officials from Sri Lanka, Russia, and Vietnam. On the same day, he also participated in an event alongside Chinese Premier Li Qiang and Barbados Prime Minister Mia Amor Mottley. Additionally, a lunch meeting between Qin and ambassadors from the European Union in late June was abruptly canceled, according to an ambassador based in Beijing who was on the invite list.

India is the biggest market for Sri Lanka in terms of tourism arrivals and that is likely to be the case in the long term as well, said said Chalaka Gajabahu, chairman, Sri Lanka Tourism Promotion Bureau (SLTPB), the government body responsible for handling all marketing and promotion activities for the island nation. «In terms of numbers, right now, India is the number one source market for us and I'm pretty sure it's going to stay there for the next couple of years and for our long term plans as well,» he said. Gajabahu said the country has already got over 600,000 incoming tourists till June 30.

Twitter rival Threads, which has amassed 70 million followers, is now launching a beta programme for Android to give users early access to new features and bug fixes. The invitation for the Android beta programme says that «certain data on your use of the app will be collected and shared with the developer to help improve the app.» «For Android users who love to live on the cutting edge, sign up for our beta below.

India, Russia and Brazil, on Friday raised concerns over the EU's deforestation law, at the World Trade Organisation. Terming the EU's policy directive «unfortunate», New Delhi said that it will directly harm the economic interests of women and small enterprises.

Regulatory uncertainty in the US is driving digital assets platform Bakkt to expand internationally to Hong Kong, the United Kingdom, and the European Union, CEO Gavin Michael noted.

Threads, Meta’s text-based app seemingly built to rival Twitter, is live

The Association for Financial Markets in Europe (ASME), an industry advocacy group that represents wholesale market participants in Europe, called for the inclusion of the decentralized finance (DeFi) sector within the recently passed markets in crypto assets (MiCA) regulations.

Belgium's regional Flemish government will together invest 1.5 billion euros ($1.6 billion) in Belgian chip technology firm Imec, the Flemish government said on Friday. Imec will use the investment to expand its «clean room» test facility with the most advanced equipment and processes, the company said in a statement.

The move will 'provide investors with information that can allow them to better understand a company’s value as an investment'. Picture by Andrew Parsons / No 10 Downing Street

Twitter rival, Threads. The Facebook and WhatsApp parent is positioning the app as an extension of its Instagram platform, though it is a standalone application with features that are similar to Twitter. Experts ET spoke with said the app may dent Twitter’s user base in India, especially among the young people.

Threads, a text-based app built by Meta to rival Twitter, is live. The app, billed as the text version of Meta's photo-sharing platform Instagram, became available Wednesday night to users in more than 100 countries — including the U.S., Britain, Australia, Canada and Japan. Despite some early glitches, 30 million people had signed up before noon on Thursday, Meta CEO Mark Zuckerberg said on Threads.

MUMBAI : Biocon Biologics Ltd, the biosimilar unit of drugmaker Biocon Ltd, has achieved a third of its post-deal integration with Viatris’s global biosimilar portfolio ahead of time and expects to focus on integrating its US and European operations in the next phase, chief executive Shreehas Tambe said, adding the company also expects to raise additional capital this year. “Earlier, we had guided two years for the whole transition. A good part is the first wave has come way ahead of plan and is a good indicator of where we are headed," Tambe said.

The race to build the perfect virtual ecosystem, popularly termed the metaverse is taking shape with huge technology-driven companies at the fore. 

The monsoon session of Indian Parliament will likely take up a bill framed in response to the Supreme Court ruling of 24 August 2017 that said privacy is a fundamental right. The Digital Personal Data Protection Bill, a draft of which was published last year to replace an unwieldy earlier proposal, got Cabinet approval this week as part of the Centre’s effort to update Indian laws for the digital age.