National News

Salvini-led government would prioritise tax cuts over deficit

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An Italian government led by Deputy Prime Minister Matteo Salvini's Lega party would pursue an ambitious tax cut programme, according to the party's economic spokesman, Claudio Borghi. “We need to pursue a tax cut and...

When Leninists overreach

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Ongoing street protests in Hong Kong and Moscow have no doubt spooked the authoritarian duo of Chinese President Xi Jinping and Russian President Vladimir Putin. The Moscow protests, the largest in many years, must...

Juncker forced to return from summer holiday for immediate medical procedure

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Jean-Claude Juncker, the outgoing President of the European Commission, has had to cut his summer holiday in Austria short to undergo urgent surgery to remove his gall bladder in his home country of Luxembourg. Juncker,...

EP president urges Italian government to let all migrant ship passengers disembark

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The President of the European Parliament, David Sassoli, has urged the Italian government to allow the Open Arms migrant ship to dock on the island of Lampedusa and allow the more than 100 illegal...

British Airways faces record EU fine for major data-breach

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The European Commission is ready to impose a £183.4 million fine on British Airways for its failure to protect the personal details of 500,000 customers. The UK’s Information Commissioner confirmed that since June 2018 the...

Markets signal global recession

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Markets in Europe fell on Thursday, following a sell-off in Asian and US stock exchanges on Wednesday. The market downturn was triggered by negative growth data in the UK and Germany, culminating with Chinese...

Tense encounter between Russian and Spanish jetfighters over the Baltic Sea

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A Spanish F-18 fighter and a Russian Su-27 were involved in a tense encounter over the Baltic Sea on Tuesday, as seen in a video released by Russia’s Defense Ministry. The Spanish F-18 took makes...

Gibraltar releases Iranian tanker despite US objections

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A court in Gibraltar ruled on Thursday that the Iranian tanker Grace 1, seized by British Royal Marines on July 4. The Iranian supertanker carrying 2,1 million barrels of oil was suspected of being...

Kashagan, Tengiz, Karachaganak top Kazakh oil production

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NUR-SULTAN, Kazakhstan - The volume of oil production in Kazakhstan during the last seven months amounted to 52.23 million tonnes, meaning it has implemented the state’s plan by 101.2%, Kazakhstan’s Energy Minister Kanat Bozumbayev...

Italian snap elections no longer certain

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The Italian Senate on Tuesday postponed a vote on a no-confidence motion submitted by Lega, postponing snap elections. The Five Star Movement (MS5), Partito Democratico (PD), the leftwing Free and Equal (LeU), and autonomist parties...

Johnson faces no-deal push-back by May’s cabinet

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Prominent members of Theresa May’s cabinet are rising to block prime minister Boris Johnson from delivering a no-deal Brexit. Former Chancellor Philip Hammond warned on Tuesday that Westminster will block a no-deal Brexit if Johnson...

US freezes tariff hikes on Chinese mass consumer products

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The US announced on Tuesday that it will postpone the introduction of tariffs on a wide range of Chinese products that was due on September 1st, pending negotiations. This could delay a 10% tariff on...

Amazon close to securing 10% of India’s second-biggest retailer

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The Amazon corporation is nearing a deal to acquire 10% of India's Future Retail, Bloomberg reports, allowing the US behemoth to move in one of the world's fastest-growing retail markets. Future Retail is India’s second-biggest...

Gibraltar considers the release of Iranian tanker

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British authorities remain in talks with Iran regarding the release of an oil tanker that was captured by Royal Marines in July after British authorities discovered that the ship was bound for Syria, which...

White House vows to stand with UK under no-deal Brexit scenario

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The White House will place the UK "first in line" for a comprehensive new trade deal with the United States in the event of a “no-deal” Brexit, according to US National Security Advisor John...

US-Greece-Cyprus-Israel want oil, gas as much East Med peace

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ATHENS - Meeting in Athens, the energy ministers of Greece, Cyprus, and Israel - Kostas Hatzidakis, Georgios Lakkotrypis, and Yuval Steinitz, as well as US Assistant Secretary of State for Energy Resources Frank Fannon...

CDU alone in defending Germany’s zero-deficit policy

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The German Christian Democrats (CDU) are under pressure both by their coalition partners, the Social Democrats (SPD), and by the opposition Greens to abandon the zero-deficit policy amid signs of a recession. German Finance Minister...

Argentina sees the resurgence of anti-austerity politics

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The Argentine stock markets crashed after the Conservative Argentine President Mauricio Macri suffered a shock defeat in primary elections on Sunday. Argentina's main Merval stock index fell 32%, while the peso slumped 25% against the...

Labour Party split over its stance on Scottish Independence referendum

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A pledge by Labour’s shadow chancellor John McDonnell that a future Labour government would not block a second referendum on Scottish independence has divided an already fractious opposition. On the one hand, McDonnell’s statement potentially...

Italian opposition split over the prospect of elections

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The Italian Senate votes on scheduling a no-confidence vote against the government, with the opposition less than united on how to deal with the political crisis that started after Matteo Salvini’s Lega withdrew its...

Uber looks to the Netherlands to reduce its tax bill by $6,1bn

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Uber is moving its intellectual property arm from Bermuda to the Netherlands to save $6.1bn from its tax bid, Bloomberg reported on Friday. Uber is resorting to an accounting practice known as a “Double-Dutch,” popular...

Strike pushes Portugal to fuel rationing

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The Portuguese government announced on Friday that refuelling will be rationed for as long as a strike by tanker drivers continues. The strike begins on Monday and rationing was introduced on Saturday evening. Rationing is...

Political volatility weighs on the Italian economy

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Italy’s League party tabled a motion of no confidence in Prime Minister Giuseppe Conte on Friday, initiating a new phase of political risk weighing on the Italian economy. However, the news triggered a 25bp surge...

Salvini’s Lega presents Italian PM Conte no-confidence motion

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Italian deputy prime minister Matteo Salvini's League presented a motion of no confidence in prime minister Giuseppe Conte in the Italian Senate on Friday. The motion comes after Thursday’s quotes from Salvini that the ruling...

EIB finances 21 new wind farms in Spain

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The European Investment Bank (EIB) is providing €385 million in financing to wind energy company Alfanar to support its plans to construct 21 new wind farms in six autonomous regions in Spain. According to the...

Britain’s Rail Delivery Group to stay in EUrail and Interrail scheme after U-turn

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UK’s Rail Delivery Group (RDG) train company has decided to reverse exit from the EUrail and Interrail scheme, after public affairs backlash The company has decided to reverse Wednesday’s decision, according to which the arrangement...

UK economy shrinks in second quarter, first since 2012 and ahead of Brexit deadline

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The UK's economy shrank for the first time since 2012 in the second quarter according to fiscal data made available by Britain’s Office for National Statistics. With Boris Johnson’s British government committed to exit...

EU’s Copernicus satellite maps to assist Turkey’s Civil Protection Services after 5.7 earthquake

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Following a request by Turkey after the 5.7 magnitude earthquake, the European Commission is providing Turkey with Copernicus emergency satellite maps, according to the European Commissioner for Humanitarian Aid and Crisis Management, Christos Stylianides. The...

Sweden’s Johansson tapped as ninth woman nominated for EU College of Commissioners

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The Swedish government has decided to nominate its Labour Minister Ylva Johansson as the country's candidate to be a part of European Commission President-elect Ursula von Der Leyen’s incoming College of Commissioners. Johansson is one...

Government future at stake as Italian PM Conte visits President Mattarella

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The Italian premier Giuzeppe Conte had a 30-minute face-to-face meeting with the Italian Head of State Sergio Mattarella, to take stock of the tensions between the 5 Stelle and the Lega. The meeting became a...

UK could face food shortages in no-deal Brexit scenario, Britain’s food and drink lobby...

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UK to experience shortages of some fresh foods for weeks or even months if a disorderly no-deal Brexit leaves perishable produce rotting in lorries at ports, Britain’s food and drink lobby warned on Wednesday. Leaving...

EU expects from Turkey to prevent forced Syria returns against non-refoulement principle

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The European Commission appeared “confident” on Tuesday, that Turkey will "take any appropriate action" if allegations are true that Syrian refugees had been sent back to the war-torn country. Amid reports in EU media that...

Bosnia’s authorities draw cautious praise from Brussels after agreeing to form Council of Ministers

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Nearly 10 months after Bosnia and Herzegovina's last round of elections, the leaders of country's three main ethnoreligious groups finally reached an agreement to form a central government on 4 August, news that the...

China’s Yuan plunge worries global markets

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European shares fell to two-month lows on Monday amid U.S.-China trade frictions and worries that drove the bloc’s investors shifting towards government bonds and other traditional market products. Following growing economic tensions between the USA...

EU diplomats hint no-deal Brexit as Johnson’s central scenario

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British Prime Minister Boris Johnson’s central scenario is a no-deal Brexit, meaning that he has no intention of renegotiating the Withdrawal Agreement, according to EU diplomats. “It was clear UK does not have another plan,”...

UK seeks to boost post-Brexit trade ties with the Americas

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Plans of British foreign minister Dominic Raab will travel to Canada, the United States and Mexico this week to seek to boost ties with non-European countries ahead of Brexit, were made public on Tuesday Ex-Brexit...

China’s currency falls as more US sanctions look likely

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The exchange rate of China's yuan to the dollar hit the symbolic threshold of 7 to 1 at the start of the week, fuelling further speculation about a deliberate move by Beijing to boost...