Luxembourg, France gain heft among FPIs investing into India
There has been a change in the pecking order among regions that foreign portfolio investors (FPIs) invest from into India.
Luxembourg has dislodged Mauritius to become the region with the third-largest assets under custody. Its AUC grew 30 per cent last year to ₹4.85 lakh crore, with its equity assets now second only to the US.
Read ahead at: https://www.thehindubusinessline.com/markets/luxembourg-france-gain-heft-among-fpis-investing-into-india/article67737483.ece
Luxembourg’s new PM wants to be the EU’s Orbán whisperer
The Luxembourger, whose country was one of the six founding EU members and has held the European Commission presidency a record three times, hopes to build on this diplomatic tradition to become a “bridge builder” among member countries — and that includes Hungary.
“Hungary is more pro-European than we sometimes think and I think we should try to support different views so that we can achieve a common goal,” Frieden said
Read ahead at: https://www.politico.eu/article/luxembourg-prime-minister-luc-frieden-hungary-viktor-orban-eu/
VC deal value in Luxembourg declines 80.2% YOY in 2023: Pitchbook
Pitchbook’s 2023 annual European venture report, published by the data and research firm on 17 January 2024, found that venture capital deal value stood at €57.1bn in 2023, which is 45.6% lower year over year (YOY).
This drop, however, came as “little surprise” as the market saw a correction after “highly inflated activity” in the post-covid years of 2022 and 2021. When excluding those two years of “hype,” deal value in 2023 is still higher than the years before.
Read ahead at: https://delano.lu/article/pitchbook-lux-2023-vc-deal-val
Central Europe: Adverse winter weather forecast across Belgium, the Czech Republic, Germany, Luxembourg, and the Netherlands through at least Jan 18
Adverse winter weather conditions are forecast across parts of Central Europe through at least Jan. 18. Snowfall accumulations of 5-35 cm (2-14 inches) are likely from Luxembourg through western and central Germany Jan. 17, with lesser accumulations possible in surrounding areas.
Icy conditions are forecast to impact much of Belgium, the Czech Republic, Germany, Luxembourg, and the Netherlands over the coming days. Gusty winds and snowfall may combine to produce blowing and drifting snow in parts of the affected region.
Belgium: Defying the laws of economics
The Belgian economy is holding up well, with domestic demand so far having offset external trade weakness.
Nevertheless, the first half of the year is likely to be difficult, and we're still awaiting a recovery in the manufacturing sector
Read ahead at: https://think.ing.com/articles/ezq-belgium-defying-the-laws-of-economics/
Snowfall hits Brussels, Belgium
Extreme weather conditions involving heavy snowfall and freezing rain hit many countries across Europe on Wednesday, causing flight cancellations and delays and disrupting road traffic.
In Belgium, departures from Brussels Airport in Zaventem were temporarily halted at 3:20 p.m. as workers needed to clear the runways of snow. Most flights were delayed by about an hour, and some got canceled, including flights to Frankfurt and Munich, the airport authorities said.
Read ahead at: https://english.news.cn/20240118/bd480f3037464786a7a744b5a32abb76/c.html
Giga Storage to build 600-MW battery complex in Belgium
Dutch energy storage developer Giga Storage will develop a project that will add 600 MW/2,400 MWh of energy storage capacity in Belgium and create Europe’s largest battery site.
Called Green Turtle, the facility will be installed in Dilsen-Stokkem and will be in proximity to a new 380-kV high-voltage substation, Giga Storage said recently.
Read ahead at: https://renewablesnow.com/news/giga-storage-to-build-600-mw-battery-complex-in-belgium-845918/
Full-Life Technologies’ GMP Manufacturing Facility, Gembloux, Belgium
Full-Life Technologies, a fully integrated radiotherapeutics company, held the ground-breaking ceremony for its new Good Manufacturing Practices (GMP) radiopharmaceutical manufacturing facility in Gembloux, Wallonia province, Belgium, in December 2023.
The new facility will expand the company’s current radiopharmaceutical manufacturing capacity and ensure a timely supply of radiotherapeutics to patients globally.
Read ahead at
:https://www.pharmaceutical-technology.com/projects/full-life-technologies-gembloux-belgium/?cf-view
Boeing 737 Malfunction Leaves Antony Blinken Stranded In Switzerland
Secretary of State Antony Blinken was forced to exit a Boeing 737 jet in Switzerland and move to a new plane after a critical failure was detected, as Boeing faces intense federal scrutiny after the door plug of a newer 737 blew out mid-air earlier this month.
Blinken was forced to change planes after a Boeing 737 jet he boarded in Zurich was deemed to be unsafe to fly, multiple outlets reported (Forbes has reached out to the State Department and Boeing for comment).
Read ahead at: https://www.forbes.com/sites/brianbushard/2024/01/17/boeing-737-malfunction-leaves-antony-blinken-stranded-in-switzerland/
China, Switzerland sign declaration with view to expanding trade
China and Switzerland signed a joint declaration on Monday agreeing to deepen their partnership after Premier Li Qiang met the Swiss President, the Swiss government said.
Li, the most senior Chinese official to visit Switzerland since President Xi Jinping's visit in 2017, met President Viola Amherd alongside a high-ranking Chinese delegation ahead of the World Economic Forum in Davos.
Read ahead at; https://www.reuters.com/world/china-switzerland-sign-declaration-with-view-expanding-trade-2024-01-15/
China to grant Switzerland unilateral visa-free treatment
China will apply unilateral visa-free policy to Switzerland, and the Swiss side will provide more visa facilitation for Chinese citizens as well as Chinese enterprises investing in Switzerland, the two countries said on Monday.
The announcement was made during talks between Chinese Premier Li Qiang and President of the Swiss Confederation Viola Amherd.
Read ahead at:https://news.cgtn.com/news/2024-01-15/China-to-grant-Switzerland-unilateral-visa-free-treatment-1qo9DWqQRK8/p.html
Cabinet approves Memorandum of Intent with Netherlands in medical product regulation
The Union Cabinet on Thursday approved the Memorandum of Intent (MoI) in the medical product regulation with the Netherlands.
The MoI aims to facilitate a better understanding of medical products regulation with regard to pharmaceuticals including raw materials for pharmaceutical use, biological products, medical devices and cosmetic products.
MMRDA Signs MoU With The Government Of Netherlands Through Joint Declaration On Sustainable Urban Development
MMRDA has signed an MoU with the Ministry of Infrastructure and Water Management, Government of Netherlands to enforce sustainable urban development in the MMR at the World Economic Forum, Davos 2024.
This is a promising step for MMRDA directed towards achieving its dream of sustainable urban development in and around the MMR.
Netherlands PM Rutte Says US Relationship Is Crucial
Mark Rutte, the outgoing Prime Minister of the Netherlands and front-runner to become the next NATO chief, says the relationship with the US is "crucial."
He also says former President Donald Trump was right to push for NATO to contribute more to defense spending. He speaks on "Bloomberg Surveillance" at the World Economic Forum's annual meeting in Davos, Switzerland.
Read ahead at: https://www.bloomberg.com/news/videos/2024-01-17/netherlands-pm-rutte-says-us-relationship-is-crucial
Denmark's King Frederik X Takes Throne As Mother Abdicates
The 83-year-old queen signed her declaration of abdication at a Council of State at Christiansborg Palace, with her 55-year-old son seated to her right.
After a final horse-drawn carriage procession through the streets of Copenhagen, the hugely popular 83-year-old queen signed a declaration of abdication at Christiansborg Palace, ending her 52-year reign and automatically making her son monarch.
Read ahead at: https://www.ndtv.com/world-news/denmarks-queen-margrethe-abdicates-son-becomes-king-frederik-x-4862025
You Switched the Lights On. Traders Made Billions of Dollars.
Before dawn on a recent autumn day, fog set in over large swaths of eastern Europe. In any other financial market, the weather wouldn’t have mattered much.
Perhaps a few delayed flights, maybe some traffic jams, most of little consequence. But in Europe’s electricity bazaar, bad weather equals money.
Read ahead at: https://www.bloomberg.com/opinion/features/2024-01-18/europe-s-energy-markets-are-being-upended-by-denmark-s-electricity-traders
Missing Targets and Making Partnerships – Denmark and Climate Change
When it comes to greenhouse gas emissions reductions, there is a dynamic tension between the ambitious aims of the EU and its member states on the one hand, and the realities of embedded, entrenched elements of the economy such as agri-food on the other.
The European Union set a target in 2021: a 50% reduction in Greenhouse Gas emissions (GHG) by 2030. Progress remains, however, slow. Progress is especially slow in agriculture.
Read ahead at: https://www.arc2020.eu/missing-targets-and-making-partnerships-denmark-and-climate-change/
Ireland set sights on international scholars & grads
As governments in some of the most popular destinations take steps to limit the number of foreign students coming to their countries (Canada is considering capping intakes while the UK is reviewing its post-study work visa), the Irish government has signaled its desire to attract more students and retain graduates with a “global perspective”.
“It is essential their learning and living experience in Ireland is inclusive and excellent, fostering enduring relationships that persist long after graduation.”
Read ahead at: https://thepienews.com/news/tomorrows-leaders-ireland-set-sights-on-international-students-and-researchers/
Li Qiang hails China’s friendly ties with Ireland as a ‘good example’
Chinese Premier Li Qiang held talks with Ireland’s Taoiseach Leo Varadkar in Dublin on Wednesday as part of a trip that highlighted the nations’ close trade and investment ties — and their potential vulnerability to growing geopolitical tensions.
Ireland’s chip and other exports to China and its role as an increasingly important destination for Chinese investment have made the country a poster child for the benefits of friendly relations with Beijing.
Read ahead at: https://www.ft.com/content/f697abac-eb79-44cc-a70e-7bb260509a6f
More than 150,000 expected to join public sector strike in Northern Ireland
Unions have been involved in long-running pay disputes, in some cases lasting for several years.
Workers are demanding that pay awards made to counterparts elsewhere in the UK are introduced in Northern Ireland.
Read ahead at: https://www.theguardian.com/uk-news/2024/jan/18/more-than-150000-expected-to-join-public-sector-strike-in-northern-ireland
Irish Taiwan policy 'unchanged' despite Chinese reports - Varadkar
Taoiseach Leo Varadkar has said that Ireland's policy on China and Taiwan has not changed, despite reports in Chinese state media following his meeting in Dublin with Chinese premier Li Qiang.
Earlier, CGTN quoted Mr Varadkar as saying that Ireland "will always abide by the one-China principle, and hopes that China will achieve peaceful reunification at an early date".
Read ahead at: https://www.rte.ie/news/ireland/2024/0117/1427171-varadkar-davos/
UK ‘steadfast in its support for Gibraltar’, Government says
It said the UK was committed to concluding a UK-EU treaty on Gibraltar as soon as possible, but would not agree to any treaty that compromises its sovereignty.
The statement comes as part of the Government’s response to the Committee’s report on the UK’s Mission to the EU, published today.
Houthi militants strike U.S.-owned ship near Yemen, Centcom says
A ballistic missile fired by Houthi militants struck a U.S.-owned ship off the coast of Yemen on Monday, U.S. Central Command said in a statement. There were no injuries and no “significant damage” to the vessel, which was continuing its journey, according to the statement.
The strike on the bulk carrier, the M/V Gibraltar Eagle, occurred two hours after another ballistic missile fired toward the southern Red Sea “failed in flight” and missed its target, the statement said.
Read ahead at: https://www.washingtonpost.com/world/2024/01/15/houthis-yemen-gibraltar-eagle-centcom/
WILL UNITED NATIONS MAKE A MOVE ON GIBRALTAR?
Every year, in the midst of the Christmas period, the United Nations adopts its usual consensus about Gibraltar.
This serves as a further reminder of an ongoing stale status quo when it comes to Gibraltar, when what we need from the UN at this time is positive action.
Read ahead at: http://www.gibraltarpanorama.gi/181226
