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☆ EU countries make final push for gas price cap deal this year
▼ + stars: | 2022-12-19 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 19 (Reuters) - European Union countries' energy ministers meet in Brussels on Monday to attempt to agree a cap on gas prices - their latest idea to tame Europe's energy crisis but one that countries are still split over. With a few countries' positions still unclear, some EU diplomats said both sides may have enough votes to block a deal. Under the latest proposal, once triggered, the EU gas price cap would prevent trades being done on the front-month to front-year TTF contracts at a price more than 35 eur/MWh above a reference level comprised of liquefied natural gas (LNG) price assessments. The EU price cap would not drop below 188 eur/MWh, even if the LNG price fell to far lower levels. The fate of other EU energy policies also hinges on the gas price cap.

☆ EU considers lower gas price cap in hunt for Monday deal
▼ + stars: | 2022-12-18 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

Its proposal would trigger a cap if prices on the Dutch Title Transfer Facility (TTF) gas hub's front-month contract exceed 188 euros per megawatt hour for three days. They have said the cap needs to be below 200 eur if it is to tackle the high gas prices that have pushed up consumer bills. Once triggered, the cap would prevent trades being done on the front-month to front-year TTF contracts at a price more than 35 eur/MWh above a reference price comprised of existing liquefied natural gas (LNG) price assessments. Under the latest proposal, shared with EU countries on Saturday, the EU price cap would not fall below 188 eur/MWh, even if the LNG reference price fell to far lower levels,But if the LNG reference price increased to higher levels, then the EU gas price cap would move with it, while remaining 35 eur/MWh above the LNG price - a system designed to ensure the bloc can bid above market prices if needed to attract scarce fuel. The scepticism of some countries over the gas price cap has been shared by market participants including the Intercontinental Exchange, which hosts TTF trading in Amsterdam.

The UK government has promised to overhaul the youth gender care system, after it was deemed inadequate by England’s regulator of health and social care. They described a deeply flawed system that is now hobbled by a toxic political climate around gender care. The letter said a decision would be made at some point from early 2022 on whether the child “is likely to meet the access criteria” for gender care. The family has received no NHS gender care or mental health support since the referral, she said. These recommended supporting “identity exploration” and mental health treatment as the first steps to ensure that any psychological issues are addressed.

☆ Russia replaces Iraq as top oil supplier to India in Nov
▼ + stars: | 2022-12-14 | by ( Nidhi Verma | ) www.reuters.com time to read: +2 min

India's oil imports from Russia rose for the fifth straight month, totaling 908,000 barrels per day (bpd) in November, up 4% from October, the data showed. The price cap plan calls for G7 countries to deny insurance, finance, brokering, navigation, and other services to oil cargoes priced above the price cap on crude and oil products. Russian oil accounted for about 23% of India's overall import of about 4 million bpd oil in November, the data showed. India, which rarely used to buy Russian oil because of costly logistics, has emerged as Russia's second biggest oil client after China as refiners snap up discounted crude shunned by Western nations since the February invasion of Ukraine. India's oil imports from various regions India's monthly oil imports from various regionsIndia's oil imports from various regionsDuring April-November, the first eight months of this fiscal year, Iraq continued to be the largest oil supplier to India followed by Saudi Arabia and Russia, which has knocked down UAE to the fourth position.

☆ EU regulators tweak state aid rules to boost broadband rollout
▼ + stars: | 2022-12-12 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, Dec 12 (Reuters) - EU competition regulators have revised state aid rules to make it easier for European Union countries to finance the rollout of fast-speed broadband, key to achieving the bloc's ambitious digital and green goals. The EU executive said governments will be allowed to provide state support to fixed broadband networks providing at least 1 gigabit per second and 150 megabit per second upload speeds. Aid for rolling out mobile networks, including 5G, will only be allowed to improve the quality of existing or planned mobile networks. The revised rules allow EU countries to use either a published price, regulated price or cost-based price as a benchmark to set wholesale access prices. To ensure transparency, governments will have to launch a public consultation of at least 30 days before granting state aid, with environmental and energy included among the selection criteria.

☆ Europe is simply switching gas dependency from Russia to U.S.-RIA cites Kremlin
▼ + stars: | 2022-12-11 | by ( ) www.reuters.com time to read: +1 min

MOSCOW, Dec 11 (Reuters) - Europe is simply switching from dependency on Russian gas to dependency on liquefied natural gas (LNG) from the United States, the RIA news agency quoted Kremlin spokesman Dmitry Peskov as saying on Sunday. Peskov called the European desire to shake off dependency on Russian gas "absurd" and "frenzied". "They have changed dependency on Russia to dependency on American liquefied natural gas," RIA quoted Peskov as saying on state television, noting that the dependence was the same, just with "much less reciprocity". "And now, when the Europeans are losing billions of euros every day, Washington is already earning these billions of dollars," Peskov said. Reporting by Alexander Marrow; Editing by Alex RichardsonOur Standards: The Thomson Reuters Trust Principles.

☆ German economy ministry calls for joint EU response to U.S. inflation act
▼ + stars: | 2022-12-09 | by ( ) www.reuters.com time to read: +2 min

BERLIN, Dec 9 (Reuters) - Germany wants a joint European response to the U.S. Inflation Reduction Act that would involve simplifying rules on state support and expanding funding opportunities, according to a German economy ministry document seen by Reuters on Friday. The ministry document also suggests member states could anchor sustainability criteria more firmly in public tenders at the national level as well as extend or increase traditional subsidy programmes, but warned against local content requirements which favour domestic industry. These would not only likely contradict World Trade Organization (WTO) law, according to the document, but also contribute to "a further erosion of the world trade order". The EU and Washington have established a joint task force in hope of resolving the dispute over the $430 billion act. (This story has been corrected to specify that the document is from the economy ministry, not finance ministry; and to clarify in the headline that the ministry calls for, not lays out, a joint response.)

☆ Yellen says U.S. listening to Europe's concerns over new climate law
▼ + stars: | 2022-12-08 | by ( ) www.reuters.com time to read: 1 min

FORT WORTH, Texas, Dec 8 (Reuters) - U.S. Treasury Secretary Janet Yellen on Thursday said the Biden administration was listening to concerns raised by European allies over the U.S. Inflation Reduction Act, a $430 billion green energy subsidy package. Many European Union countries fear their companies will be unfairly disadvantaged by the subsidies contained in the new law. "We will look at what is legal and what is feasible," Yellen told reporters. Reporting by Andrea Shalal; writing by Kanishka Singh; editing by Tim AhmannOur Standards: The Thomson Reuters Trust Principles.

☆ Germany, Netherlands set out red lines on EU gas price cap
▼ + stars: | 2022-12-08 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

The group, which also includes Austria, Denmark, Estonia and Luxembourg, laid out their red lines on the proposed EU-wide gas price cap, which countries are aiming to approve at a Dec. 13 meeting of energy ministers in Brussels. Belgium, Italy, Poland and Greece are among the countries who say a price cap is needed to shield their economies from high gas costs. They want a far lower price limit than the one proposed by the Commission. Germany and the other cap sceptics also demanded stronger safeguards in case the price cap caused unintended consequences - which gas market participants have warned could be severe. They proposed "red light criteria" that would trigger an automatic suspension of the price cap in an emergency, for example if Europe's gas demand jumps.

☆ Grenada's 'golden passport' comes with tax benefits and makes travel easier — but only if you invest $150,000 in the country first
▼ + stars: | 2022-12-08 | by ( Zoe Rosenberg | ) www.businessinsider.com time to read: +7 min

Grenada's citizenship-by-investment, or CBI, program has accepted 1,500 residents yearly since 2013. Gaining Grenada citizenship takes about three months and is less costly than other CBI programs. To be a Grenadian tax resident, the country requires 183 days of residence on the island a year. Jafri added that with a Grenadian passport, a traveler doesn't need a visa to travel to China. The investment in hotel and resort projects costs less than other kinds of real-estate development to help drive tourism to the country, Hallam explained.

☆ Europe's free-travel zone set to welcome Croatia but bar Romania and Bulgaria
▼ + stars: | 2022-12-08 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +2 min

BRUSSELS, Dec 8 (Reuters) - Opposition led by Austria is set to prevent Bulgaria and Romania from winning approval on Thursday to join Europe's control-free travel zone, though its 26 member countries are expected to admit Croatia. The so-called Schengen zone - a pact between countries to abolish border checks for those travelling between their territories - is among the top achievements of European integration. The Netherlands sides with Austria in opposing the granting of access to Bulgaria, with the Hague citing concerns over governance and migration. Since all member countries must agree for a candidate country to be able to join Schengen, Romania and Bulgaria were in for a disappointment on Thursday. "Croatia can expect a positive decision but Romania, and especially Buglaria will not be able to join Schengen yet," said an EU diplomat.

But keeping Russian oil on the market and global prices low soon became the bigger priority as oil prices jumped, people familiar with the mechanism's evolution and energy analysts said. Analysts said the cap will have little immediate impact on the oil revenues that Moscow is currently earning. "I really think that the U.S. Treasury's main objective was to defuse the EU embargo," on Russia's oil exports, Cahill said. The official said the price cap is "institutionalizing" current market discounts, arguing that the price cap created them. The $60 price cap level was agreed on Friday after fierce debate.

Dec 6 (Reuters) - Russia's January-November oil and gas condensate rose 2.2% from a year earlier to 488 million tonnes, the Interfax news agency said on Tuesday, citing Deputy Prime Minister Alexander Novak. The Group of Seven nations, Australia and the 27 EU states have also introduced a $60 per barrel price cap on Russian oil. Russia's oil and gas condensate output from January to November averaged 10.91 million barrels per day, according to Reuters calculations. Company sources told Reuters that Russian oil output could fall by 500,000 to 1 million barrels per day early in 2023 after the EU ban. The Kommersant daily citing sources on Tuesday reported Russia's November output averaged 1.486 million tonnes (10.89 million barrels) per day, up 2% from October.

☆ Factbox: G7 price cap on Russian seaborne crude oil: what are the main elements
▼ + stars: | 2022-12-05 | by ( ) www.reuters.com time to read: +3 min

The price cap comes on top of an EU embargo on buying seaborne Russian crude oil as a measure aimed mainly at providing third-party countries with an option to still buy it if the transaction is at or below the price cap level. Below are the main elements of how the price cap is supposed to work:PRICE CAP LEVELThe price cap was set at $60 per barrel. Shipping companies will not be allowed to provide tankers for the transport of Russian crude unless the oil is sold at or below the $60 price cap. WHAT IS ALLOWEDProviding financial and shipping services for Russian crude oil is allowed if it is bought at or below the price cap as well as in an emergency. Specific projects which are essential for the energy security of certain third-party countries may be exempted from the price cap.

☆ ‘I wanted to resume my transition at all costs.’ Trans Ukrainians uprooted by war struggle to continue treatment
▼ + stars: | 2022-12-03 | by ( Ivana Kottasová | ) edition.cnn.com time to read: +17 min

But for Eric and many other trans people, the war has also made it much more difficult to be who they are. HRT can be used by trans women, trans men and non-binary people to make their physical appearance more aligned with their gender identity. Anastasiia Yeva Domani is the co-founder of Cohort, a Ukrainian trans rights group. While trans Ukrainians still experience negative attitudes in some spaces, for example in shelters housing families, according to COHORT, the discriminatory Russian rhetoric has pushed more Ukrainians to speak up. The group launched a hotline for LGBTQ+ Ukrainians and opened an LGBTQ+ friendly shelter.

☆ EU countries to consider lower gas price cap - documents
▼ + stars: | 2022-12-02 | by ( Kate Abnett | ) www.reuters.com time to read: +3 min

BRUSSELS, Dec 2 (Reuters) - European Union countries will consider on Friday a proposal for a gas price cap slightly lower than a Brussels proposal that some view as too high, with a handful of countries pushing for an even lower limit, documents seen by Reuters showed. European Union countries start negotiations on Friday evening on the European Commission's proposal for a cap to limit gas price spikes, and are racing to reach a deal by Dec. 13. The Commission last week proposed a gas price cap that would kick in if the front-month Title Transfer Facility (TTF) gas price exceeded 275 euros ($289) per megawatt-hour for two weeks and was 58 euros higher than a liquefied natural gas reference price for 10 days. But countries still disagree on whether to cap prices at all, while at least five countries are pushing for an even lower cap. In a document shared with other EU member states this week, Italy, Poland, Greece, Belgium and Slovenia proposed two options: either a far lower fixed price cap of 160 euros/MWh, or a "dynamic price cap" that could fluctuate in response to existing liquefied natural gas price benchmarks.

☆ This Spanish city is the No. 1 place to live and work abroad―and it's about to get easier to become a digital nomad there
▼ + stars: | 2022-12-01 | by ( Jennifer Liu | ) www.cnbc.com time to read: +3 min

Valencia, Spain, is the No. 1 city for expats to live and work abroad in 2022, according to a survey of more than 12,000 respondents from InterNations, an online expat community with more than 4.5 million global members. Among expats, Valencia earns the top spot for being "a safe place with an excellent climate, a vibrant nightlife and culture, a pleasant urban environment and great travel opportunities" while still being "fairly affordable," says InterNations founder Malte Zeeck. It could become the next big hotspot for non-European digital nomads to relocate, too. The Spanish parliament recently passed the so-called Startups Act, intended to boost entrepreneurship and diversify the economy, which includes creating a new type of visa for digital nomads expected to launch in January 2023.

☆ German inflation in key states eases in November
▼ + stars: | 2022-11-29 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 29 (Reuters) - German inflation dipped in five states in November, data showed on Tuesday, suggesting cost pressures eased in Europe's largest economy - a welcome development for the European Central Bank but unlikely to weaken its resolve to tame prices. In North Rhine-Westphalia, Germany's most populous state, annual inflation slowed this month to 10.4% from 11.0% in October. Inflation also eased slightly in Baden-Wuerttemberg, Bavaria, Brandenburg and Hesse. Her comments, along with remarks by Dutch central bank chief Klaas Knot earlier, were likely to dampen speculation that the European Central Bank was about to take a gentler path with future rate increases. A Reuters poll of economists pointed to national inflation, harmonised to compare with other European Union countries, easing to 11.3% in November from 11.6% in October.

☆ The top 10 cities to live and work abroad this year
▼ + stars: | 2022-11-29 | by ( Jennifer Liu | ) www.cnbc.com time to read: +1 min

Workers looking for an outstanding quality of life and low cost of living are flocking to Valencia, Spain, which has been ranked the No. 1 city for expats to live and work abroad in 2022. It's pretty easy for remote workers from other European Union countries to move to Spain without applying for a visa or work permit, Zeeck adds. Expats in second-place Dubai, meanwhile, enjoy a thriving social scene as well as good job prospects and a creative business culture. Here are the top 10 cities for expats living and working abroad, and how residents feel about their home away from home.

☆ EU inches towards deal on Russian oil price cap this week
▼ + stars: | 2022-11-29 | by ( Jan Strupczewski | ) www.reuters.com time to read: +3 min

Last Wednesday, representatives of EU governments debated for the first time a price cap level that would still provide an incentive for Moscow to sell, but at a much smaller profit. "But since then prices have kept falling and are now below the cap level, so that level achieves no objective," he said. The three countries, which all border Russia, back a $30 price cap. The oil price cap has not been added to their agenda, but still could be, diplomats said. They also said talks would continue in smaller groups, and between EU and G7 countries, to find a deal before Monday.

☆ European Energy Ministers Set to Clash Over Proposed Gas-Price Cap
▼ + stars: | 2022-11-24 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

Pipes at facilities of the Nord Stream 2 gas pipeline in Lubmin, northern Germany. European Union countries earlier this year agreed to voluntary plans to reduce their gas consumption. BRUSSELS—European Union energy ministers are gathering to haggle Thursday over details of a new proposal from the bloc’s executive body for an emergency cap on the price of natural gas. The meeting convenes as EU diplomats struggle to agree on a separate, international plan to cap prices paid for Russian oil around the world.

☆ European Energy Ministers Clash Over Proposed Gas-Price Cap
▼ + stars: | 2022-11-24 | by ( Kim Mackrael | ) www.wsj.com time to read: 1 min

Pipes at facilities of the Nord Stream 2 gas pipeline in Lubmin, northern Germany. European Union countries earlier this year agreed to voluntary plans to reduce their gas consumption. BRUSSELS—European Union energy ministers failed to reach an agreement Thursday on a plan to put an emergency cap on the price of natural gas, saying they would resume their debate next month. EU diplomats are also struggling to agree on a separate, international plan to cap prices paid for Russian oil around the world.

☆ Polish climate minister says EU gas cap proposal is a 'joke'
▼ + stars: | 2022-11-24 | by ( ) www.reuters.com time to read: +1 min

WARSAW, Nov 24 (Reuters) - The European Union's gas price cap proposal is a 'joke', Polish climate minister Anna Moskwa said on Thursday. Moskwa's criticism followed disagreement among the 27 European Union countries on Wednesday over a proposal to cap future gas prices at 275 euros per megawatt hour (MWh). read more"The gas cap proposal is key, but what emerged the day before yesterday is a joke. it was presented at the last moment and deviates from what had been proposed before and isn't acceptable as it's higher than current market prices," Moskwa said in Brussels. As many as 15 EU countries including Poland, Italy and Greece want a cap, while a camp led by Germany argues that a cap could hamper gas supplies.

☆ Almost one in five Germans dipping into savings to get by - poll
▼ + stars: | 2022-11-22 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Nov 22 (Reuters) - Nearly one in five people in Germany have had to draw on their savings to cover everyday costs as rising inflation cuts into their purchasing power, a survey by the Kantar polling institute published on Tuesday found. According to the survey of 2,000 people, 19.4% of respondents said they were using their savings to get by. By contrast, 57.4% of respondents said they could manage without having to dip into savings. German consumer prices, harmonised to compare with other European Union countries, were up 11.6% on the year in October. Reporting by Klaus Lauer, Writing by Miranda Murray, Editing by Maria Sheahan and Nick MacfieOur Standards: The Thomson Reuters Trust Principles.

☆ COVID pandemic led to surge in superbug infections, EU agency says
▼ + stars: | 2022-11-17 | by ( ) www.reuters.com time to read: +2 min

Data showed that in Europe last year, reported cases of the Acinetobacter bacteria group more than doubled compared with pre-pandemic annual numbers. Some scientists link the rise in hospital-acquired superbug infections during the pandemic to wider antibiotic prescriptions to treat COVID-19 and other bacterial infections during long hospital stays. He also said the data showed decreases in cases of some other common superbugs in European hospitals. The European report is consistent with a trend noted last year in the United States, where government data showed that U.S. deaths from drug-resistant infections jumped 15% in 2020. Experts call superbug infections, including fungal pathogens, a silent pandemic that causes more than a million deaths annually but does not draw attendant focus or funding for research.

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