Friday

29th Mar 2024

Ticker

China: EU's carbon border-tax 'violates trade rules'

China said on Monday that the carbon border adjustment mechanism (CBAM), unveiled by the European Commission earlier this month, violates international trade rules and undermines global prosperity, Reuters reported. "CBAM is essentially a unilateral measure to extend the climate change issue to the trade sector," a ministry of ecology and environment spokesman said. As the world's main manufacturer of steel and cement, China could face high border tariffs.

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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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