Author: Euronews

For the first time in 12 years, since President Aleksandar Vučić’s party has been in power in Serbia, official measures approved in Brussels are sending a clear warning to Serbian authorities: there’ll be no more EU funding unless allegations of election fraud are thoroughly investigated. ADVERTISEMENTGoverned for more than a decade by a national-populist regime, Serbia finds itself at a critical juncture: it’s navigating the challenges of economic stability and democratic erosion while relying heavily on trade with the European Union, as well as its pre-accession funds from the bloc.This reliance shows just how important EU-Serbia relations are, both economically…

Data for the month of February shows inflation is back to its 2021 level, at 1.2%, compared with the same time last year, putting Switzerland on the same path as its European neighbours. ADVERTISEMENTThe small European country (8.8 million inhabitants) has been on this path for a few months now, with inflation generally slowing over the last year. February registered a slow deceleration compared with January’s 1.3% rate.The Swiss Federal Statistical Office (FSO) said on Monday that prices continued to be on the rise in several categories, including air transport and housing rentals. On the other hand, common food items…

Russia is among the countries announcing cut extension, announcing an additional voluntary reduction of 471,000 barrels per day for the second quarter. ADVERTISEMENTSome members of oil cartel OPEC, led by Saudi Arabia, and allied producers like Russia are again deepening their voluntary crude supply cuts.Announcements from several OPEC+ countries extend reductions of some 2.2 million barrels a day, the secretariat for the multinational organisation noted Sunday. Saudi Arabia led the pack by extending its previously implemented cut of 1 million barrels daily through the end of 2024’s second quarter.The extension, first shared by the state-owned Saudi Press Agency citing an energy…

Euronews Business provides a roundup of what to look out for in the markets this week. ADVERTISEMENTDespite a mixed close in weekly performance, major global stock markets all concluded February on a positive note, buoyed by the tech rally and increasing rate cut expectations from central banks. Reflecting Wall Street’s bullish momentum, the European markets exhibited significant strength, with the Euro Stoxx 50 reaching an all-time high. March is poised to be a critical month for global market sentiment following the record-breaking performance, as investors eagerly await any hints regarding the rate path from central banks.This week, market participants will be closely…

The Party of European Socialists (PES) has elected Nicolas Schmit as its lead candidate for the EU elections amid worries of a far-right surge. ADVERTISEMENTSchmit, the current European Commissioner for jobs and social rights, received the mandate by acclamation on Saturday afternoon at the end of the party’s congress in Rome. The 70-year-old politician from Luxembourg led the internal race uncontested, as he was the only name put forward.”We will not allow that Europe will take the path of austerity and social repression as it did during the financial crisis. This is the main argument, this why we want to win…

Robo-advising can be a cheap, low-effort option for non-professional investors, but a lack of human input also has its drawbacks. ADVERTISEMENTThe robo-advising industry is expected to handle $5 trillion (€4.6 trillion) worldwide by 2027, as the technology has experienced a period of “explosive growth” since 2008: a year widely cited as the birth of automated financial advisory services, also known as robo-advisors.Before then, professional software did exist, but the late 2000s saw the founding of the world’s first publicly-available robo-advisor site, known as Betterment.According to Investopedia, the robo-advising industry has managed client assets worth as much as $3 trillion by the end of…

Falling inflation figures from the Eurozone and its biggest economies will come as a relief to the ECB, which makes its next interest rate decision next week. ADVERTISEMENTInflation in the Euro area slowed to 2.6% in February year-on-year, down from 2.8% the month before but not quite as low as the 2.5% analysts had predicted.Eurostat’s preliminary estimate, released on Friday, shows that the consumer prices in the Eurozone are rising at their slowest rate in three months, but they’re still hovering above the European Central Bank’s (ECB) target inflation rate of 2%.Key components and trendsAmong the main components of euro…

The opinions expressed in this article are those of the author and do not represent in any way the editorial position of Euronews. One bad season in one crop or seed should not yield such stress on European farmers. They are key to our European and global food security. The time to support them is now, Charles Miller writes. ADVERTISEMENTEurope’s farmers are grappling with two dual and daunting challenges: the pressure to deliver more sustainable and high-yielding seasons of crops, and a dwindling supply of healthy seeds with which to accomplish it.Nowhere is this more obvious than for Europe’s potato…

The Spanish retail giant is reportedly preparing to reopen more than half of its shops in the country, which is still under attack by Russia. ADVERTISEMENTFollowing nearly two years of closure, retail giant Zara is ready to reopen many of its stores in Ukraine, according to the Financial Times. The Spanish brand closed its 84 stores in Ukraine as well as its operations in Russia after the latter launched its full-scale invasion of its neighbour on 24 February 2022. The war has claimed more than 30,000 lives since.Zara’s owner Inditex told the FT that it will begin by gradually reopening its stores in Ukraine,…

The longest-serving major central bank governor will step down after a 12-year stint with the SNB. ADVERTISEMENTThomas Jordan will hand over his title as chairman of the Swiss National Bank (SNB) in September, the institution announced on Friday.The 61-year-old, known for his unorthodox monetary policy, had been due to finish his term in 2027.The resignation is a momentous moment for the country’s financial industry given Jordan’s high-profile status.After joining the SNB in 1997, Jordan took up the role of chair in 2012, and has since steered the bank through a number of pivotal moments.He notably managed the tail end of…