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☆ U.S. and China trade divisions threaten a 'reversal' for global economy, IMF official warns
▼ + stars: | 2024-05-08 | by ( Dylan Butts | ) www.cnbc.com time to read: +2 min

Carlos Barria | Afp | Getty ImagesDifferences between U.S.-led Western and China-aligned economic blocs threaten global trade cooperation and economic growth, a top official with the International Monetary Fund warned on Tuesday. IMF Deputy Managing Director Gita Gopinath said in a speech at Stanford University that events such as the global pandemic and Russia's invasion of Ukraine have disrupted global trade relations in ways not seen since the Cold War. "Increasingly, countries around the world are guided by economic security and national security concerns in determining who they trade with and invest in," she said, adding that this has resulted in countries increasingly picking sides between China and the U.S. Trade between the China and U.S. blocs has declined compared with trade among countries within the groupings, Gopinath said. The U.S. bloc mainly includes Europe, Canada, Australia and New Zealand, while China-leaning countries include Russia, Eritrea, Mali, Nicaragua and Syria.

Persons: Xi Jinping, Carlos Barria, Gita Gopinath, Gopinath Organizations: National Committee, China Relations, China Business Council, Economic Cooperation, APEC, Afp, International Monetary Fund, Stanford University, U.S, IMF, Trade, West Locations: Asia, San Francisco , California, China, Ukraine, Washington, Beijing, U.S, South, Taiwan, Europe, Canada, Australia, New Zealand, Russia, Eritrea, Mali, Nicaragua, Syria

☆ Euro zone business activity grows at fastest pace in almost a year, PMI shows
▼ + stars: | 2024-05-06 | by ( ) www.cnbc.com time to read: +1 min

Euro zone business activity expanded at its fastest pace in almost a year last month as a resurgence in the bloc's dominant services industry more than offset a deeper downturn in manufacturing, a survey showed on Monday. That was its second month above the 50 mark separating growth from contraction and the highest since May last year. The services PMI leapt to 53.3 from 51.5, above the flash estimate of 52.9 and its highest reading since last May. A sister survey released last week showed factory activity in the euro zone took a turn for the worse in April, highlighting the divergence between the two sectors. The composite future output index dipped only slightly from March's 61.6 - its highest since February 2022 - to 61.6.

Persons: Cyrus de la Rubia Organizations: P Global, Service, Hamburg Commercial Bank, PMI Locations: March's, Hamburg

☆ Judges just unsanctioned 2 Russian oligarchs worth almost $20 billion
▼ + stars: | 2024-04-10 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

A top EU court struck down sanctions against two billionaire Russian oligarchs on Wednesday. Judges found there was insufficient evidence that they had backed Vladimir Putin's war in Ukraine. The oligarchs, Mikhail Fridman and Petr Aven, are worth almost $20 billion combined, per Bloomberg. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementJudges in Brussels struck down sanctions against two Russian billionaires on Wednesday, potentially handing Moscow a big win as the war in Ukraine rages on.

Persons: Vladimir Putin's, Mikhail Fridman, Petr Aven, —, they'd Organizations: EU, Bloomberg, Service, Moscow, European Union, Business Locations: Ukraine, Brussels, European

☆ These are the 32 most exciting European fintech startups to watch in 2024, according to venture capitalists
▼ + stars: | 2024-04-08 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +1 min

This is Business Insider's annual list of the hottest fintech startups in Europe. After years of standing as the bloc's most in-demand sector, investment in fintech has slumped considerably. In 2022, fintech made up 17% — or $13.9 billion — of the $82 billion that had been invested into European startups, according to Atomico. That number dropped last year when around $4.5 billion was invested — the equivalent of a tenth of the total $45 billion poured into the ecosystem. This story is available exclusively to Business Insider subscribers.

Persons: —, fintech Organizations: Service, Business Locations: Europe, fintech

☆ Euro zone inflation unexpectedly slows to 2.4% in March, with core print also below forecast
▼ + stars: | 2024-04-03 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published on Wednesday, boosting expectations for interest rate cuts to begin in the summer. Economists polled by Reuters had forecast the rate would hold steady against the previous month at 2.6%. The core rate of inflation, excluding energy, food, alcohol and tobacco, cooled from 3.1% to 2.9%, also coming in below expectations. Markets expect the euro zone's central bank will begin lowering borrowing costs in June — a position reflected in the recent messaging of ECB decision-makers. "Inflation has declined despite a jump in energy inflation, and a boost from an early Easter.

Persons: European Central Bank —, Price, Robert Holzmann, Carsten Brzeski, Kamil Kovar, Kovar Organizations: Reuters, European Central Bank, ECB, ING, Moody's Locations: Rome, Italy, France, Spain, Germany, Austrian

BRUSSELS (AP) — The European Union is pressing ahead with a plan to use the profits generated from billions of euros of Russian assets frozen in Europe to help provide weapons and other funds for Ukraine, a senior official said Tuesday. The move comes as Ukraine runs dangerously low on munitions, and U.S. efforts to get new funds for weapons have stalled in Congress. A small group of member countries, notably Hungary, refuse to supply weapons to Ukraine, so these windfall profits would be divided up. The European Central Bank, or ECB, has warned in the past against seizing Russian assets as this could undermine confidence in the euro currency and EU markets. But Borrell said that no assets would be taken, only the windfall profits they make.

Persons: Josep Borrell, “, ” Borrell, Borrell, Alexander De Croo Organizations: Ukraine, EU, European, Parliament, European Central Bank, ECB, Belgian Locations: BRUSSELS, Europe, Brussels, Ukraine, U.S, Russian, Belgium, Hungary, russia, ukraine

☆ NATO's newest member says it's ready to fortify a strategic island in the middle of the Baltic Sea close to Russia
▼ + stars: | 2024-03-12 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +3 min

Sweden is considering reinforcing Gotland, a strategic island in the Baltic Sea, after joining NATO. AdvertisementSweden is open to re-fortifying a crucial island in the Baltic Sea now that it's joined NATO, its prime minister said. "That goes in terms of presence on Gotland, but also in terms of surveillance, in terms of submarine capabilities." Gotland marked with an arrow in the Baltic Sea. Gotland is considered to hold a key strategic position in the Baltic Sea, and is often referred to as an "unsinkable aircraft carrier."

Persons: —, it's, Ulf Kristersson, Kristersson, Tom Porter, Anna Wieslander, Eric Adamson, Carl, Oskar Bohlin Organizations: NATO, Service, Financial, Google, Atlantic, FT, Atlantic Council, BBC Locations: Sweden, Gotland, Baltic, Estonia, Latvia, Lithuania, Finland, Poland, Swedish, Russian, Kaliningrad, Crimea, Ukraine, Russia

☆ 'China has a lot more to lose': U.S. considering sanctioning Chinese firms aiding Russia's war
▼ + stars: | 2024-02-19 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +4 min

Russia's President Vladimir Putin and Chinese President Xi Jinping shake hands during a meeting in Beijing on October 18, 2023. The provisions would mark the first direct penalties against Beijing despite long-held Western suspicions over its support for Russia's military operations. So I would hope China would calculate carefully that there are consequences around the corner for supporting Russia's violence and depravity in Ukraine." Asked whether the U.S. is considering similar sanctions on China as those proposed by the EU, U.S. A separate January report found that China has become key conduit in funnelling critical Western tech into Russia.

Persons: Vladimir Putin, Xi Jinping, Sergei Guneyev, Gerald Connolly, CNBC's Silvia Amaro, Connolly, Ben Cardin, Biden, Josep Borrell, Alexei Navalny Organizations: Afp, Getty, Congress, CNBC, Democratic, U.S . House, Foreign Relations, European Union, Beijing, Saturday, Munich Security, EU, U.S, Russia, U.S . National Security Council Locations: Beijing, Munich, GERMANY, The U.S, Russia, Ukraine, China, Washington, U.S

LONDON (AP) — The European Union said Monday it is investigating whether TikTok has broken the bloc's strict new digital rules for cleaning up social media and keeping internet users safe. The European Commission, the EU's executive branch, said it has “opened formal proceedings to assess" whether TikTok has breached the Digital Services Act, which took effect last year. The commission is focusing on whether TikTok is doing enough to curb “systemic risks” stemming from its design, including "algorithmic systems" that might stimulate “behavioral addictions." The EU has deemed nearly two dozen of the biggest online and social media platforms including TikTok, as ones that deserve the highest level of scrutiny under the DSA and hefty fines if they fail to comply. The bloc is already investigating Elon Musk’s X, previously known as Twitter, for breaches including failure to curb the spread of illegal content.

Persons: TikTok, ” Thierry Breton, We’ll, Elon Musk’s Organizations: Union, European Commission, Digital Services, DSA, EU

☆ Navalny's Widow Joins EU Foreign Ministers as Ukraine War Nears Two-Year Mark
▼ + stars: | 2024-02-19 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

By Gabriela BaczynskaBRUSSELS (Reuters) - The widow of Alexei Navalny, Russian President Vladimir Putin's nemesis who died in an Arctic prison last week, joins EU foreign ministers in Brussels on Monday, days before the two-year mark of Russia's war on Ukraine. The Latest Photos From Ukraine View All 91 ImagesNavalny, a 47-year-old former lawyer, rose to prominence campaigning against corruption in Putin's Russia. The ministers are due to discuss military support for Ukraine and what would be the European Union's 13th package of sanctions against Moscow since it unleashed a full-scale invasion of its neighbour on Feb.24, 2022. Inside the EU, Germany has blocked replenishing a military fund used to supply Ukraine saying Berlin was contributing too much compared to other members. One senior EU diplomat said they believed it "will be able to make it in time" and agree the new punitive measures for Feb.24.

Persons: Gabriela Baczynska BRUSSELS, Alexei Navalny, Vladimir Putin's, Yulia Navalnaya, Putin, Josep Borrell, Navalnaya's, Donald Trump, Viktor Orban, Gabriela Baczynska, Angus MacSwan Organizations: Ukraine, Moscow, NATO, Kremlin, EU, Washington Locations: Russian, Brussels, Ukraine, Munich, Israel, Gaza, Russia, Putin's Russia, Siberia, United States, Europe, U.S, EU, Germany, Berlin, Hungary, Budapest, Kyiv, London, Sahel, Mali, Burkina Faso, Niger, Mauritania

☆ Russia's war in Ukraine is igniting an old debate in Brussels over debt
▼ + stars: | 2024-02-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Munich, GERMANY — Should we borrow from global markets as one combined entity and raise new debt together? That's the question hanging on the shoulders of EU officials as they promise to spend more on defense amid Russia's onslaught in Ukraine. However, in 2020, the 27 members of the European Union decided that the best way to deal with the financial and extraordinary impact of the Covid-19 pandemic was to jointly raise debt. Estonian Prime Minister Kaja Kallas said in an interview with Bloomberg that joint bonds would be a good way to boost the bloc's defense capacities. Dutch Prime Minister Mark Rutte was also very clear he would not support joint debt at the EU level.

Persons: Emmanuel Macron, Volodymyr Zelenskyy, Olaf Scholz, GERMANY —, Alexander de Croo, Kaja Kallas, Christian Lindner, Lindner, Mark Rutte Organizations: European Union, CNBC, Munich Security Conference, Estonian, Bloomberg, Munich Security, Dutch, EU, MSC Locations: Paris, France, Munich, GERMANY, Ukraine, Belgium, Brussels, Russia

☆ Exclusive-Google to Launch Anti-Misinformation Campaign Ahead of EU Elections
▼ + stars: | 2024-02-15 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

By Martin CoulterLONDON (Reuters) - Google is preparing to launch an anti-misinformation campaign across five countries in the European Union (EU), the company told Reuters ahead of the bloc's parliamentary elections and tougher new rules tackling online content. France, Poland and Germany accused Russia on Monday of putting together an elaborate network of websites to spread pro-Russian propaganda. Jigsaw's ads will be translated into all 24 official EU languages, the company said. The campaign will run for at least one month, with a view to extend it based on reach and performance. Results from the campaign, including survey responses and the number of people reached, are expected to be published in summer 2024.

Persons: Martin Coulter, Jigsaw, We've, Beth Goldberg, Goldberg, Matt Scuffham, Elaine Hardcastle Organizations: Martin Coulter LONDON, Google, European Union, Russia, Europe's Digital Services, YouTube, Universities of Cambridge Locations: France, Poland, Germany, Belgium, Italy, Europe, Bristol, Ukraine

☆ Russia's NATO neighbors are building hundreds of bunkers and anti-tank ditches in case of an invasion
▼ + stars: | 2024-02-15 | by ( Mia Jankowicz | ) www.businessinsider.com time to read: +5 min

download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementEstonia, Lithuania, and Latvia are busy building massive defensive installations along their collective 1,000 miles of border with Russia and Belarus. The Baltic Defense Line, comprising hundreds of bunkers and other defensive measures, was a key part of an agreement struck between the three countries last month, prompted by the war in nearby Ukraine. Advertisement"A Baltic defensive line is a huge project," Lukas Milevski, a research fellow at the Foreign Policy Research Institute, wrote recently. A diagram of prototype bunkers published by Estonia's defense ministry shows how the oblong structures are designed to fit into a T-shaped dugout, their entrance protected by earthworks.

Persons: —, 🛡️, evkur, e cade, " ERR, Baker, ure, ely, vic, ted as say Organizations: Service, Baltic Defense, ici Locations: Estonia, Lithuania, Latvia, Russia, Belarus, Ukraine, Eston, ain

☆ US, EU Discuss Russia Sanctions Ahead of Ukraine War's Second Anniversary
▼ + stars: | 2024-02-14 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +5 min

"Many of us are prepared to roll out quite robust anniversary packages," the official told Reuters, but declined to provide details. The new sanctions would come as the U.S. and its allies look to maintain pressure on Russia with U.S. military aid to Ukraine increasingly in doubt. "All delegations expressed their support to the proposed package, except one who requested a bit more time to analyze the content of the proposals," said an EU official, pointing to Hungary. The official said, however, the new EU sanctions would blacklist almost 200 people and entities. "The Russia sanctions program is both an extraordinary success and an extraordinary failure, depending upon one's point of view," said Smith.

Persons: Daphne Psaledakis, Gabriela Baczynska WASHINGTON, Joe Biden's, John Smith, Smith, Gabriela Baczynska, Don Durfee Organizations: Reuters, Kyiv, Republican, Representatives, Washington, EU, Wednesday, Russia, U.S . Treasury Department’s, Foreign Assets Control Locations: BRUSSELS, U.S, Russia, Brussels, Ukraine, Washington, EU, Hungary, Moscow, Lincoln

☆ The US, China, and Europe's economies are drifting apart. The global 'decoupling' is moving markets.
▼ + stars: | 2024-02-11 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Read previewThe biggest players in the global economy are on different trajectories, and markets around the world are reflecting the shifting landscape. "Signs of decoupling are present in global growth, trade, and equity markets," Bank of America strategists wrote in a Friday note. AdvertisementTo that point, the outlook for the Euro area looks softer. BofA expects Euro area growth at 0.4% in 2024 and 1.1% in 2025. Growth forecasts for US, Euro Area, and China.

Persons: —, Janet Yellen, BofA, SPX Organizations: Service, Bank, Business, Bank of America, Wall, Federal Reserve, ECB, Bank of America Global Locations: China, There's, Germany, Spain, Europe

☆ Spanish Police Scuffle With Farmers, Truck Drivers on Fifth Day of Protests
▼ + stars: | 2024-02-10 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

A group representing drivers, Plataforma Nacional, and a newly created farmers' group, Plataforma 6-F, on Saturday came together to jointly demand action from Spanish and European leaders. Members of both groups, waving Spanish flags, wearing yellow vests and shouting 'Viva Espana', gathered in a car park near the Atletico de Madrid stadium and voted in favour of joining forces. That is why we are calling on politicians to take responsibility and do something," said Manuel Hernandez, head of the Plataforma Nacional, representing truck drivers. Since Tuesday, Spanish farmers have joined their counterparts from Germany, France, Italy, Portugal and Belgium in daily protests that include blocking several highways and ports. Both groups vowed to keep protesting, in Madrid and across the country, until their demands were met.

Persons: Manuel Hernandez, Catarina Demony, Guillermo Martinez, Jessica Jones, Jonathan Oatis Organizations: Spanish, European Union, Plataforma Nacional, Saturday, Espana, Atletico de Madrid, Nacional, Socialist Locations: MADRID, Madrid, Spanish, Germany, France, Italy, Portugal, Belgium

☆ Britain suffered an embarrassing aircraft carrier malfunction just as China started showing off its new carrier
▼ + stars: | 2024-02-07 | by ( Mia Jankowicz | Tom Porter | ) www.businessinsider.com time to read: +3 min

China touted the capabilities of its latest aircraft carrier just as a British vessel suffered an embarrassing malfunction that caused it to pull out of NATO exercises. Chinese state broadcasters recently devoted considerable airtime to discussing the Fujian, the aircraft carrier it launched in 2022, Newsweek reported. It came as the Royal Navy announced that its flagship aircraft carrier, the HMS Queen Elizabeth, had issues with a propeller shaft, meaning it had to withdraw from NATO's upcoming exercises. It is also stretching its naval capabilities by providing protection to vessels in the Red Sea targeted by Houthi rebels . And, quite simply, the Royal Navy doesn't have enough ships, particularly destroyers and frigates, he said.

Persons: HMS, Elizabeth, —, Wu Qian, Cao Weidong, Gerald R, Ford, Lord West, Prince Organizations: NATO, Newsweek, Royal Navy, Liberation Army, Popular Mechanics, Elizabeth British Royal Navy, US Naval Institute, Business, UK's Royal Locations: China, British, Fujian, East Asia, —, Taiwan, Elizabeth British Royal Navy China, Wales

☆ 'I Went to the Wall', Hungary's Orban Says After Agreeing to EU Deal
▼ + stars: | 2024-02-02 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

BUDAPEST (Reuters) - Hungary's Viktor Orban said on Friday that he "went to the wall" for his country before agreeing to an EU deal on Thursday to extend new aid to Ukraine and that he averted the risk of losing EU funds earmarked for Budapest from the bloc's joint coffers. In a regular interview on state radio on Friday, where he addresses his domestic audience, Orban said the agreement reached on Thursday was a good one. "I went to the wall," Orban said. "We are not sending weapons (to Ukraine), we get our money from Brussels, and we will contribute to the civil financing of Ukraine." Orban reiterated that peace talks should start between Ukraine and Russia as two years have now passed since the start of the war, and "time was on the Russians' side."

Persons: Hungary's Viktor Orban, Orban, Krisztina, Hugh Lawson Organizations: Union, European Commission Locations: BUDAPEST, Ukraine, Budapest, United States, Hungary, Brussels, Russia

Most of Kosovo uses the euro, even though the country isn't part of the EU. But parts of Kosovo's north, populated mostly by ethnic Serbs, continue to use the dinar. The Central Bank reported on Wednesday that Serbian bank Komercijalna Banka AD Beograd closed its branches in Kosovo. Serbian forces fought a 1998-99 war with ethnic Albanian separatists in what was then the province of Kosovo. Kosovo eventually declared independence in 2008, but the government in Belgrade doesn't recognize its neighbor as a separate country.

Persons: Kosovo's, Aleksandar Vučić, Alexander, Botsan, ” Vucic, ”, Besnik Bislimi, Albin Kurti, Miroslav Lajčák, Josep Borrell, ___ Llazar Semini Organizations: Union, Serbian, Kosovo’s Central Bank, Western, The Central Bank, NATO, Belgrade doesn't, European Union, Kosovo, Kosovo police, EU Locations: PRISTINA, Kosovo, Serbian, Kosovo's, Serbs, Serbia, Russia, Russian, Belgrade, Pristina, Metohija, Kosovo Serbs, ” Kosovo, Komercijalna Banka, Beograd, Brussels, EU, United States, Vučić, Balkans, Kosovo’s, Tirana, Albania

HALLE, Belgium (AP) — Farmers blocked more traffic arteries across Belgium, France and Italy on Wednesday, as they sought to disrupt trade at major ports and other economic lifelines. They also moved closer to Brussels on the eve of a major European Union summit, in a continued push for better prices for their produce and less bureaucracy in their work. I think we are addressing two very important (concerns) of them right now,” European Commission Vice President Maroš Šefčovič said. A climax in Belgium is set for Thursday, when farmers plan to protest outside EU headquarters during a summit of government leaders. Despite the widespread inconveniences, governments in the EU are treating protests, which have been mostly peaceful, with extreme caution.

Persons: Maroš Šefčovič, Sven Pieters, Gérald Darmanin, “, Alexander De Croo, De Croo, Emmanuel Macron, ___ Sylvie Corbet, Ciaran Giles Organizations: HALLE, — Farmers, European Commission, EU, Protesters, South Locations: Belgium, France, Italy, Brussels, Ukraine, “, Berlin, Paris, Rome, Flanders, Zeebrugge, Creteil, “ Paris, ”, Chile, New Zealand, Belgian, Madrid

☆ Trump vs. Biden: Goldman Sachs names the global stocks to play the U.S. elections
▼ + stars: | 2024-01-31 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As the U.S. presidential election comes into the spotlight, Goldman Sachs has assessed the potential impact on global markets by changes in regulation, taxation, and other government policies. However, it sees U.S. subsidiaries of foreign companies potentially gaining if Trump delivers on a cut to corporation taxes. On average, European companies generate 25% of sales in the U.S., but most come from U.S.-based businesses rather than exports from the EU, according to Goldman Sachs. As these companies run substantial U.S. operations and assets, Goldman also sees them as benefiting from potential U.S. corporate tax cuts under Trump. However, they flagged that Biden has mentioned increasing the rate of corporate tax, "which would have an impact on US-exposed companies."

Persons: Goldman Sachs, Donald Trump, Trump, DAX, Sharon Bell, Joe Biden, Goldman, Biden, Michael Bloom Organizations: U.S, Ukraine, Trump, Eurostat, Stocks, Intercontinental Hotels Group, Boeing, Aero, BAE Systems, Kerry Group, Goldman, Republican Locations: United States, U.S, Europe

LONDON (AP) — Italian regulators said they told OpenAI that its ChatGPT artificial intelligence chatbot has violated European Union’s stringent data privacy rules. The watchdog started investigating ChatGPT last year, when it temporarily banned within Italy the chatbot that can produce text, images and sound in response to users' questions. The growing popularity of generative AI systems like ChatGPT are also drawing increasing scrutiny from regulators on both sides of the Atlantic. Competition regulators in the 27-nation EU and Britain, meanwhile, are also examining Microsoft's OpenAI investments. AI systems also face broader oversight in the EU, which is f inalizing its groundbreaking AI Act, the world's first comprehensive rulebook for artificial intelligence.

Persons: OpenAI, chatbot, ChatGPT, “ Organizations: San, EU, Data, U.S . Federal Trade Commission, Google, Microsoft, Competition Locations: San Francisco, Italy, EU, Britain

☆ Analysis-West Africa's 'Brexit' Moment Spells Trouble for the Region
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +6 min

Ivory Coast alone is home to more than 5 million people from Burkina Faso, Mali and Niger. Earlier this month, Russia and Niger, ruled by a junta since a coup last year, agreed to develop military ties. Russian military personnel flew into Burkina Faso's capital Ouagadougou last week to ensure the safety of the country's military leader. EMPTY THREATECOWAS has responded to a wave of coups in the region since 2020 with sanctions that the juntas have called "illegal and inhumane." "The departure from ECOWAS will have catastrophic consequences for the ability to respond to the many security challenges facing this region," said Abba.

Persons: Bate Felix, David Lewis, Giulia Paravicini, Seidik Abba, Russia's Wagner, Mucahid Durmaz, Verisk Maplecroft, Charlie Robertson, Kwesi Aning, Gilles Yabi, Adama Coulibaly, Nagnouma Keita, Abba, Tiemoko Diallo, Boureima, Silvia Aloisi, Andrew Cawthorne Organizations: Giulia Paravicini DAKAR, West, West African States, Reuters, Islamic, FIM Partners, European Union, ECOWAS, CFA Locations: Mali, Burkina Faso, Niger, Russia, Ivory Coast, Niger . Niger, Nigeria, Paris, Ghana, Togo, Benin, France, United States, Burkina Faso's, Ouagadougou, West Africa, United, London, Bamako, Guinea, China

☆ EU Deal for Ukraine 'Difficult' Despite Move by Hungary -Official
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

BRUSSELS (Reuters) - Talks between European Union countries aimed at agreeing on more aid for Ukraine later this week remain "difficult", a senior EU official said on Tuesday, despite Hungary having signalled its readiness for a compromise. It has already once blocked the aid package and has also voiced opposition - along with EU paymaster Germany - to topping up the military fund. "We are not there yet," the EU official said under condition of anonymity, referring to preparations for the Thursday summit in Brussels of the leaders of the bloc's 27 member states. As the EU mounts pressure on Hungarian Prime Minister Viktor Orban to agree, the official said Budapest's conditions for lifting its veto on the financial assistance to Kyiv were not acceptable to the other EU countries. The official added that Hungary's EU peers did not want to agree to review any support to Kyiv every year as that would give Orban a veto each time.

Persons: Russia's, Viktor Orban, Orban, Jan Strupczewski, Gabriela Baczynska, Mark Heinrich Organizations: European Union, EU, Germany, Hungarian Locations: BRUSSELS, Ukraine, Hungary, Kyiv, Russia, Brussels

☆ Brussels Threatens to Hit Hungary's Economy if Orban Vetoes Ukraine Aid - FT
▼ + stars: | 2024-01-29 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) - The European Union will sabotage Hungary's economy if Budapest blocks fresh aid to Ukraine at a summit this week, under a confidential plan drawn up by Brussels, the Financial Times reported on Sunday. Brussels has outlined a strategy to explicitly target Hungary's economic weaknesses, imperil its currency and drive a collapse in investor confidence in a bid to hurt "jobs and growth" if Budapest refuses to lift its veto on the aid to Kyiv, the newspaper reported, citing a document drawn up by EU officials. they cannot imagine that" EU funds would be provided to Budapest. Hungary's EU minister Janos Boka told the newspaper Budapest was not aware of the financial threat, but that the country "does not give in to pressure". (Reporting by Disha Mishra in Bengaluru; Editing by Kirsten Donovan)

Persons: Viktor Orban, Janos Boka, Disha Mishra, Kirsten Donovan Organizations: Reuters, European, Financial Times, Budapest, EU, Kremlin, FT Locations: European Union, Budapest, Ukraine, Brussels, Kyiv, Hungarian, Russia, Hungary's, Bengaluru

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