Latest news with #CompetitivenessCompass
Yahoo
18-06-2025
- Business
- Yahoo
EU plans to stop Russian gas and oil imports by 2027
The European Commission has proposed a gradual phase-out of Russian gas and oil imports into the EU by the end of 2027. The legislative proposal follows last month's REPowerEU road map, paving the way to ensure the EU's full energy independence from Russia. This decision is part of the EU strategy to eliminate vulnerabilities associated with dependence on Russian fossil fuels, thereby increasing its competitiveness. European Commission president Ursulavon der Leyen said: "Russia has repeatedly attempted to blackmail us by weaponising its energy supplies. We have taken clear steps to turn off the tap and end the era of Russian fossil fuels in Europe for good.' The proposal suggests that eliminating Russian gas imports will not significantly impact the economy or jeopardise the security of supply due to alternative global suppliers, a robust interconnected gas market within the union, and sufficient EU import infrastructure. The phase-out will substantially contribute to the objectives of the Competitiveness Compass, the Clean Industrial Deal and the Affordable Energy Action Plan. These initiatives emphasise the economic benefits of a cleaner, independent energy system and support Europe's decarbonisation goals. The proposed regulation outlines a stepwise discontinuation of pipeline gas and liquefied natural gas (LNG) originating from or indirectly exported by Russia. It also includes measures to ensure a complete cessation of Russian oil imports by the end of 2027. Under the proposed ban, new contracts for Russian gas imports will be prohibited, starting 1 January 2026. Existing short-term contracts must end by 17 June 2026, with certain exceptions for land-locked countries reliant on pipeline gas linked to long-term contracts, which are permitted until the end of 2027. All imports under long-term contracts are set to cease by the end of 2027. Additionally, long-term contracts for LNG terminal services involving Russian customers or entities will be banned, freeing up terminal capacity for alternative suppliers and bolstering the resilience of energy markets. "EU plans to stop Russian gas and oil imports by 2027" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
09-05-2025
- Politics
- Euronews
Why the EU is essential — and why Türkiye belongs in the bloc
I was just eight when I first glimpsed what cooperation between Türkiye and Europe could look like—not through treaties or official speeches, but through a family story. It was the day my aunt's husband left Manisa, an industrious town in Western Türkiye, to work in Germany. He returned years later with knowledge, skills, and tools that helped our local community flourish. That is the promise of a truly meaningful partnership. Later, in my political career, I observed the volatile relationship between Türkiye and the European Union—a journey marked by both hope and frustration. From the 1999 Helsinki Summit, when Türkiye was granted candidate status, to the 2010s, when negotiations stalled, our path toward full EU membership has been uneven. Missteps and mistrust have occurred on both sides. Today, however, the world is changing rapidly. The war in Ukraine, the rise of authoritarianism and far-right extremism, and renewed debate over Europe's security and global role reveal an urgent truth: Türkiye and Europe must build a common future. 9 May, Europe Day, offers a moment to ask a critical question: What kind of partnership do we want? One defined by short-term transactions and political expedience? Or one rooted in enduring values, shared responsibility, and mutual trust? In a world where democracy is under siege, multilateralism is weakening, peace is no longer a given, and global trade faces protectionist threats, the European Union's moral clarity and democratic commitment are more important than ever. Yes, the EU is under pressure. Populism tests its unity. Migration challenges its compassion. The war in Ukraine demands resilience and resources. Yet precisely in times like these, the EU must double down on its founding principles. As emphasised in former Italian Prime Minister and former European Central Bank President Mario Draghi's report and the Commission's 'Competitiveness Compass,' the EU must act swiftly to sustain prosperity and global relevance in the face of rising competition from the US and China. I firmly believe that a dynamic and democratic Türkiye—one committed to the rule of law and human rights—will play a vital role in a mutually stronger future. As the leader of the Republican People's Party (CHP), the oldest party of the Turkish Republic and a standard-bearer of its social democratic tradition, I affirm that the future we envision for Türkiye is fundamentally aligned with Europe's values. Our agendas converge in four critical areas: a social Europe that shields its citizens from inequality and insecurity; an inclusive Europe that respects dignity and integrates diversity; a sustainable and innovative Europe where green transition and digital innovation go hand-in-hand; and a dignified Europe where all can live freely, safely, and with opportunity. These are not abstract ideals. They are the foundation for a renewed Europe, and they reflect the aspirations of the Turkish people. My vision for Türkiye is one of a democratic republic built on rule of law, secular governance, human rights, and equality. Gender equality is not a slogan—it is a governing principle. We will rejoin the Istanbul Convention without delay. We are committed to realizing Türkiye's historical potential; a country where no child is deprived of education, no family denied healthcare, no citizen excluded from justice. Following the 31 March 2024 local elections, in which our party emerged as the leading political force, we are advancing a vision of empowered local democracy. Strong municipalities make for a strong democracy. Transparent, participatory governance is not just a method—it is a promise to our citizens from which we derive our own legitimacy. I must also express concern that the EU-Türkiye relationship has, at times, devolved into a transactional arrangement—most notably around migration. This neither honors Europe's values nor reflects Türkiye's contributions. Our country currently hosts over five million refugees and migrants, largely from Syria but also from Afghanistan, Ukraine, Iran, and Iraq. Despite limited means, the Turkish people have shown unmatched generosity. Türkiye also has one of the youngest populations on the continent—a potential engine of renewal and innovation. Yet in recent years, young people have emigrated in large numbers, discouraged by injustice and authoritarianism. Their talents have been stifled. We intend to reverse that trend. Since 19 March, when Istanbul's elected mayor and our presidential candidate, Ekrem İmamoğlu, was unjustly detained, young people have risen in peaceful protest—not for a party, but for principles: judicial independence, electoral fairness, and democratic renewal. They are not a threat. They are our biggest source for hope of a better future. We believe in their future. We believe in their return. We believe in a Türkiye they will want to come back to. A Türkiye that offers not only opportunity, but dignity. One of the slogans we often use in our struggle is inspired by Bertolt Brecht: No salvation alone—either all of us together, or none of us at all. Solidarity is not a choice. It is a necessity. This is a defining moment for Europe. The EU must not look away from Türkiye—a founding member of NATO, a member of the Council of Europe and the OECD, and a long-standing candidate for EU accession. Europe must not ignore Türkiye's young people, its democratic determination, or the opportunity for a renewed partnership grounded in shared values. On this Europe Day, let us go beyond ceremonial words. Let us remember why the EU was built: to heal division, defend democracy, and secure peace. The inclusion of Türkiye in that mission is not a concession—it is a completion. Let this be the generation that chooses unity over exclusion, principles over convenience, and vision over fear. Let us shape a Europe that is truly whole. Happy Europe Day. Özgür Özel is the leader of Türkiye's Republican People's Party (CHP). Members of the MAGA movement in the United States have hit out at the new pope over social media posts he made in which he appeared to criticise President Donald Trump and his deputy JD Vance. Robert Prevost, a 69-year-old from Chicago, became the first ever US pontiff when he was chosen by his fellow cardinals on Thursday, less than three weeks after the death of his predecessor, Pope Francis. Trump was quick to celebrate Prevost's appointment, sending his congratulations and expressing a desire to meet the pontiff, who is now known by the name Leo XIV. "What excitement, and what a great honour for our country. I look forward to meeting Pope Leo XIV. It will be a very meaningful moment!" Trump said in a post on his Truth Social platform. However, not everyone in Trump's orbit was pleased by the news from the Vatican. Laura Loomer, a far-right activist who was invited by Trump to the Oval Office in early April, called the new pope "anti-Trump, anti-MAGA, pro-open borders and a total marxist like Pope Francis." Her criticism came in response to an article allegedly reposted by Prevost on X. A verified account under his name shared a Washington Post opinion piece written by Cardinal Timothy Dolan in 2015. The article was titled "Why Donald Trump's anti-immigrant rhetoric is so problematic." In February, the same account reposted an article — written by the National Catholic Reporter (NCR) — that criticised the US Vice President JD Vance over his comments on the Christian concept of "ordo amoris." "There's this old school – and I think it's a very Christian concept by the way – that you love your family and then you love your neighbour, and then you love your community, and then you love your fellow citizens in your own country, and then after that, you can focus and prioritise the rest of the world," Vance said earlier this year. His interpretation of the doctrine was widely condemned by leading religious figures, with the NCR article shared by Prevost's account concluding "JD Vance is wrong: Jesus doesn't ask us to rank our love for others." But unlike Loomer, some Trump allies tried to reserve judgement. "Is it too much to hope that some 20-year-old ran the new pope's X account and he never looked at it?" asked former Fox News host Megyn Kelly.
Observer
13-04-2025
- Business
- Observer
Europe's tech sovereignty needs competitiveness
As part of his confrontational stance towards Europe, US President Donald Trump could end up weaponising critical technologies. The European Union must appreciate the true nature of this threat instead of focusing on competing with the US as an economic ally. To achieve true tech sovereignty, the EU should transcend its narrow focus on competitiveness and deregulation and adopt a far more ambitious strategy. After passing several landmark tech bills in recent years, the EU is now seeking to boost innovation and enhance competitiveness. Building on former European Central Bank president Mario Draghi's influential 2024 report, the European Commission recently published the Competitiveness Compass – its road map for implementing Draghi's recommendations. Europe's growing anxiety about competitiveness is fuelled by its inability to challenge US-based tech giants where it counts: in the market. As the Draghi report points out, the productivity gap between the United States and the EU largely reflects the relative weakness of Europe's tech sector. Recent remarks by European Commission President Ursula von der Leyen and Tech Commissioner Henna Virkkunen suggest that policymakers have taken Draghi's message to heart, making competitiveness the central focus of EU tech policy. But this singular focus is both insufficient and potentially counterproductive at a time of technological and geopolitical upheaval. While pursuing competitiveness could reduce Big Tech's influence over Europe's economy and democratic institutions, it could just as easily entrench it. European leaders' current fixation on deregulation – turbocharged by the Draghi report – leaves EU policymaking increasingly vulnerable to lobbying by powerful corporate interests and risks legitimising policies that are incompatible with fundamental European values. As a result, the European Commission's deregulatory measures – including its recent decision to shelve draft AI and privacy rules, and its forthcoming 'simplification' of tech legislation including the GDPR – are more likely to benefit entrenched tech giants than they are to support start-ups and small- and medium-size enterprises. Meanwhile, Europe's hasty and uncritical push for 'AI competitiveness' risks reinforcing Big Tech's tightening grip on the AI technology stack. It should come as no surprise that the Draghi report's deregulatory agenda was warmly received in Silicon Valley, even by Elon Musk himself. But the ambitions of some tech leaders go far beyond cutting red tape. Musk's use of X (formerly Twitter) and Starlink to interfere in national elections and the war in Ukraine, together with the Trump administration's brazen attacks on EU tech regulation, show that Big Tech's quest for power poses a serious threat to European sovereignty. Europe's most urgent task, then, is to defend its citizens' rights, sovereignty and core values from increasingly hostile American tech giants and their allies in Washington. The continent's deep dependence on US-controlled digital infrastructure – from semiconductors and cloud computing to undersea cables – not only undermines its competitiveness by shutting out homegrown alternatives, but also enables the owners of that infrastructure to exploit it for profit. Even more alarmingly, Europe's technological dependence gives a handful of corporations and the US government outsize power over its technological development and democratic decision-making. This power could be used to stifle the growth of Europe's tech sector by restricting access to advanced chips, or by making access to cloud computing contingent on light-touch regulation of US tech firms. Safeguarding Europe from such coercion will ultimately enhance its competitiveness. Strong enforcement of competition law and the Digital Markets Act, for example, could curb Big Tech's influence while creating space for European start-ups and challengers to thrive. Similarly, implementing the Digital Services Act and the AI Act will protect citizens from harmful content and dangerous AI systems, empowering Europe to offer a genuine alternative to Silicon Valley's surveillance-driven business models. Against this backdrop, efforts to develop homegrown European alternatives to Big Tech's digital infrastructure have been gaining momentum. A notable example is the so-called 'Eurostack' initiative, which should be viewed as a key step in defending Europe's ability to act independently. In an increasingly volatile geopolitical landscape, sovereignty is about more than competitiveness; it is about security, resilience and self-determination. European policymakers must therefore weigh competitiveness against other, often more important, objectives. A 'competitive' economy holds little value if it comes at the expense of security, a fair and safe digital environment, civil liberties and democratic values. Fortunately, Europe doesn't have to choose. By tackling its technological dependencies, protecting democratic governance and upholding fundamental rights, it can foster the kind of competitiveness it truly needs. @Project Syndicate, 2025 Max von Thun The writer is Director of Europe and Transatlantic Partnerships at the Open Markets Institute Marietje Schaake The writer is a former member of the European Parliament, is International Policy Director at Stanford University's Cyber Policy Centre, International Policy Fellow at Stanford's Institute for Human-Centered Artificial Intelligence
Yahoo
24-03-2025
- Business
- Yahoo
Report highlights talent access and growth as major concerns in Irish medtech sector
A new report on Ireland's medical device manufacturing sector has found that access to a skilled workforce, economic uncertainties, and sector growth are among the chief concerns for sector participants. Conducted by Irish Medtech, the trade body representing Ireland's medtech sector, the report findings were based on responses to an online survey by 800 senior business leaders. Attracting and retaining a quality workforce was cited by 63% of respondents as a major challenge, with labour costs and housing for employees key associated concerns at 72% and 67% respectively. The report found business sentiment to be variable. Eight in 10 medtech businesses made a positive assessment of Ireland's current medical device manufacturing environment, but 33% viewed weaker global growth as the biggest challenge faced. Irish Medtech said the sentiment may explain why 33% highlighted a greater focus on business expansion and 17% towards developing in new markets as priorities for 2025. While concerns remain for the sector in Ireland, there is plenty of reason for optimism. With 54% of survey respondents actively integrating AI-powered initiatives and 67% planning to expand existing AI initiatives, Irish Medtech highlighted that the EU's €200bn ($216bn) investment fund, including €20bn ($21.6bn) earmarked for AI gigafactories, represented a 'unique opportunity' for Ireland to strengthen its position as a leader in advanced manufacturing and AI moving forward. To address the concerns and expectations identified in the report, Irish Medtech director Eoghan Ó Faoláin called on the Irish government to focus on four key pillars to ensure sustained growth and development. Under health and patient access, Ó Faoláin encouraged the implementation of the European Health Data Space (EHDS), an EU regulation intended to establish a common framework for the use and exchange of electronic health data across the EU, and the expansion of clinical research capabilities. Regarding enterprise and innovation, and sustainability and environmental issues, he called on the government to 'embrace' advanced manufacturing, support a circular economy, and invest in sustainable infrastructure. To meet the foremost concerns reflected in the report findings around talent, the final pillar surrounded education, skills, and talent, with the government advised to support apprenticeship programmes, 'promote lifelong learning', and advance gender leadership in the sector. 'As global economic dynamics shift, Ireland's strong domestic demand for infrastructure, goods, and services provides a foundation for resilience,' said Ó Faoláin. 'Strategic alignment with EU initiatives such as the Competitiveness Compass, investment in AI-driven technologies, and proactive workforce development will be key to sustaining long-term growth.' One of the world's top five medtech manufacturing hubs, Ireland competes against US hubs such as those in California and Massachusetts and currently manufactures 80% of global stents, 75% of global orthopaedic knee production, and 25% of injectable devices for diabetics. In 2024, medtech giant Abbott opened a new manufacturing facility in Kilkenny, Ireland, which is set to have the world's highest production of sensors used in the company's continuous glucose monitoring (CGM) devices. Last month, GE HealthCare revealed plans to invest $138m to expand its Carrigtohill, Cork contrast media fill and finish manufacturing site. According to Irish Medtech, the medical devices workforce in Ireland is projected to reach 56,000 by 2028, with the sector forecast to contribute around $1.76bn to Ireland's economy by 2029. Medical device manufacturing is a key contributor to Ireland's economy. While the event of any trade tariffs being imposed on Ireland by the Trump administration are hard to predict, and more so given the fact President Trump has already threatened and then walked back the prospect of tariffs on several global trading partners since taking office in January, research suggests they would have a significant impact on the wider Irish economy. A recent model by Ireland's Economic and Social Research Institute (ESRI) found that potential tariffs between 10-25% could lead to the levels of Gross Domestic Product (GDP) and Modified Domestic Demand (MDD) falling by as much as 3.5% and 2% below the no-tariff baseline respectively over the next five to seven years. In essence, any protectionist policies meted out by the US could significantly impact the Irish economy. Any such policies may also 'prompt multinationals to relocate to the US, posing further risks to the Irish economy and public finances,' according to ESRI paper author Dr Paul Egan. "Report highlights talent access and growth as major concerns in Irish medtech sector" was originally created and published by Medical Device Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Reuters
18-02-2025
- Business
- Reuters
EU Commission to propose help to de-risk power deals, document shows
BRUSSELS, Feb 18 (Reuters) - The European Commission will next week propose a broad package of measures to support struggling EU industries, including help to de-risk power purchase deals and simpler state aid rules, a draft of its Clean Industrial Deal showed on Tuesday. The Commission President Ursula von der Leyen has made reversing Europe's industrial decline her key focus in her second term as president. In January, von der Leyen announced a Competitiveness Compass outlining the Commission's aims for the next two years. One of the landmark packages is the Clean Industrial Deal, which the Commission will announce next week. The deal aims to support energy-intensive industries that face "high energy costs, unfair global competition and complex regulations" as well as boost the clean-tech sector. As part of its plans to tackle high energy prices, the Commission is set to propose an Action Plan for Affordable Energy. The plan includes a pilot programme with the European Investment Bank to de-risk power purchase agreements with a focus on small and midcap companies. The EIB will also introduce a "Grids Manufacturing package" to provide guarantees for manufacturers of grid components. EU countries need to revamp and expand their power grids in order to meet the EU's climate change targets, which depend on electrification. The Commission also intends to simplify state aid rules by July this year and carbon duties, introduce dynamic gas storage targets and tell member states to "lower taxes on electricity to the legal minimum thresholds." European utility companies said last year the heavy tax burden was hampering new investments. The Commission also wants to mobilise funds from the next budget, known as the MFF, to provide "short-term improve the business case for EU-made clean manufacturing".
