Friday

29th Mar 2024

Ticker

EU satellite system temporarily offline

Services of the EU's satellite navigation system Galileo, offline since Thursday, have been interrupted by "a technical incident related to its ground infrastructure", the European Global Navigation Satellite Systems Agency said Sunday. Its search and rescue service remained operational, the agency added. Galileo is still in its pilot phase, and is due to be fully operational next year. The €10bn project is an alternative to US-owned GPS.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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