Czech Republic
EU proposes emergency powers to raise €210bn from frozen Russian assets for Ukraine
The European Commission will invoke “emergency powers” to raise up to €210bn for Ukraine using frozen Russian state assets, in a move that could bypass the need for unanimous approval by member states and sidestep potential vetoes.
Slovak Economy Minister Saková claims Bratislava negotiated extension of Russian gas imports
Slovakia has a valid contract with Gazprom until 2034 and opposes EU plans to phase out Russian fossil fuel imports by 2027.
Europe’s groundwater reserves in danger from Climate Crisis
Europe is turning into an underground desert as groundwater reserves are severely depleted due to intensifying climate impacts and long-term overextraction, according to a new study reported by The Guardian on November 29.
Surging US and Russian LNG exports push gas prices to 18-month low
LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent.
IntelliNews Lambda: Europe’s gas storage is back to normal
LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent. That has led to comfortably full gas tanks and the lowest deviation from the baseline in 15 years.
Germany retains top spot in Europe real GDP gains, but momentum fading
Germany may be the sick man of Europe, but the industrial powerhouse is still top dog in terms of gains in real GDP growth for now. But not for long. A three-year long recession is eating into the big lead, Germany built up before the war in Ukraine
ECB refuses to back EU’s plan for €140bn Ukraine loan
The European Central Bank has refused to support a €140bn EU loan package intended for Ukraine, dealing a significant blow to a controversial initiative that sought to finance Kyiv using a cash pile from the investment of Russian frozen assets.
Russia-EU trade turnover falls to historic low as sanctions bite
Trade between Russia and the European Union has plummeted to its lowest level on record, as sanctions, energy decoupling, and sanctions bite, Izvestiya reported on December 2.
Czech PMI inches upward to 48 in November amid uptick in new export orders
Czechia’s Manufacturing PMI compiled monthly by the market intelligence company S&P Global Market Intelligence posted 48 in November, which is slightly up on 47.2 posted in October, but still below the 50 no-change mark.
Eurozone manufacturing PMI stagnates in November, Italy and Spain outperform Germany and France
The Eurozone’s manufacturing sector saw little change in November, with final Purchasing Managers’ Index (PMI) data pointing to continued stagnation across the bloc’s industrial base, Oxford Economics reported on November 28.
Czech President Pavel objects to Motorists' environment minister nominee Turek
Filip Turek, honorary chairman of the anti-green and eurosceptic Motorists for Themselves, is the party’s nominee to head the Ministry of Environment.
EU urgently working on a bridge loan for Ukraine if Reparation Loans deal fails
The ongoing discussions on a possible US sponsored peace deal to end the Ukraine war has put fresh pressure on the EU to come up with a solution to Ukraine’s acute funding shortfall.
COMMENT: Is the EU deliberately trying to scupper the US peace plan or is it just incompetent?
After the talks in Geneva the 28-point peace plan (28PPP) has been cut to 19 points. But the EU has come up with its own 24-point plan that contains several points that guarantee the Kremlin will reject it.
EU-Mercosur trade pact faces dual threat from Paris and internal rifts
The long-negotiated EU-Mercosur trade agreement is set to enter a decisive phase amid French opposition and broader tensions within the South American bloc.
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US to present a 28-point ceasefire plan to Ukraine as a fait accompli
A new US 28-point plan to end the war in Ukraine suddenly burst on to the scene on November 20, as the White House hopes to use the growing pressure on Ukraine to force terms on Kyiv as soon as this week.
Value of top Czech arms companies more than doubles to over €19bn
Sharp growth in market cap of Czechia's main arms companies mirrors growth in Western Europe as demand soars after Russia's invasion of Ukraine.
EU ministers agree on weaker 2040 EU climate goal with CEE opposed
Poland and three other Central European EU member states voted against a new bloc-wide climate target.
Ukraine gets a B grade from EU: good, but more work needed
President Volodymyr Zelenskiy rejected a two-tier solution proposed by Brussels to accelerate Ukraine’s EU accession bid, after the European Commission (EC) released a progress report on November 4.
Defence conglomerate Czechoslovak Group acquires Serbian drone tech company MUST Solutions
CSG has been on a shopping spree propelled by its boosted sales following the Russian full scale invasion of Ukraine in 2022 as well as armed conflicts in the Middle East and Africa.
Emerging Asia overtakes the UK per-capita benchmark
For the first time since the Industrial Revolution, the major emerging economies including China, India and Indonesia have seen GDP as a percentage of the UK’s GDP increase as the leading BRICS countries start to overtake the Developed Markets.