China launches its first renewable requirements for steel, cement and polysilicon
China has introduced its first renewable energy consumption targets for key industrial sectors and data centres....
Poland to prioritise joint EU defence funding during its presidency, urging unity on security as a shared European goal. Ministers to explore funding options in April.
Poland will prioritise joint EU financing for defence during its upcoming presidency of the 27-nation bloc, highlighting security as a shared European responsibility, Finance Minister Andrzej Domanski announced on Wednesday.
The European Commission estimates that enhancing EU defence capabilities could cost over €500 billion within the next decade.
In April, EU finance ministers will meet in Warsaw to explore funding models. Domanski emphasised the need for a unified European approach, particularly for large-scale projects like a European air defence system, which require both funding and international cooperation.
He also called for greater efficiency, criticising Europe’s 12 separate tank systems as excessive. Potential financing solutions include leveraging the EU’s long-term budget for new borrowing, similar to the €800 billion COVID-19 recovery fund, or establishing a special purpose vehicle (SPV) with paid-in capital, akin to the European Stability Mechanism. The SPV option could involve non-EU nations, such as Britain and Norway, and keep control with governments rather than the European Commission.
Germany’s legal constraints on joint debt and the need for unanimous agreement among EU members present challenges. The financing needs will become clearer after EU Defence Commissioner Andrius Kubilius publishes a report in March outlining key priorities. However, discussions remain preliminary, with Domanski acknowledging that it is too early to decide on a specific model.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
French member of parliament Olivier Marleix was found dead at his home on Monday, with suicide being considered a possible cause.
Norway could soon receive a major boost to its airborne defence, as Washington signals readiness to expand military cooperation through a new high-value arms deal.
A British man accused of running a $100 million fake wine loan scam pleaded not guilty in New York, denying claims that he sold investors a vintage collection that didn’t exist. The high-stakes fraud allegedly duped victims with promises of rare bottles and big returns.
The U.S. is set to support Lebanon’s military readiness with a $100 million deal to sustain A-29 Super Tucano aircraft, enhancing the Lebanese Armed Forces’ ability to uphold the recent ceasefire in southern Lebanon.
The U.S. unexpectedly recorded a $27 billion budget surplus in June, reversing last year’s deficit. This improvement reflects stronger customs collections and significant cuts in education spending amid ongoing fiscal challenges.
China has introduced its first renewable energy consumption targets for key industrial sectors and data centres.
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