Breaking news

Cohesion Policy: A Pillar For Green And Digital Transitions In The EU

by THEFUTURE.TEAM

June 19, 2024

The recent meeting of the General Affairs Council of the EU, held in Luxembourg, underscored the critical role of the EU Cohesion Policy in facilitating the green and digital transitions essential for sustainable development across member states. Cypriot Finance Minister Makis Keravnos highlighted the significance of this policy, advocating for its alignment with the EU’s strategic objectives for 2024-2029 to promote economic, social, and territorial cohesion.

Strategic Synergies for Balanced Development

Minister Keravnos emphasised the necessity of integrating the Cohesion Policy with the new EU Strategic Agenda. He argued that this alignment is vital to ensure balanced development across all EU regions. The policy’s investment in green and digital transitions is not merely a strategic choice but a legal obligation under the EU Treaties. It aims to foster economic, social, and territorial cohesion, which in turn reinforces the Single Market.

Decentralised Decision-Making and Stakeholder Participation

The discussions also touched upon the importance of decentralised decision-making and active participation of stakeholders at all levels – European, national, and local. This approach ensures that the unique characteristics and potential of each member state are harnessed effectively, promoting overall growth and prosperity within the EU. Cyprus’ position advocates for a collaborative model where localised insights and initiatives drive the broader EU goals.

Addressing Challenges and Opportunities

The General Affairs Council’s meeting highlighted both the challenges and opportunities presented by the green and digital transitions. As the EU moves towards a more sustainable and technologically advanced future, the Cohesion Policy is seen as a key tool to address disparities and ensure that all regions benefit from these advancements.

Oil Prices Dip Amid Rising U.S. Crude Inventories and Middle East Tensions

by THEFUTURE.TEAM

October 23, 2024

Oil prices experienced a slight decline on Wednesday following reports of a larger-than-expected increase in U.S. crude inventories. This drop was moderated by ongoing concerns over Middle East tensions, particularly as Israel continued its military actions in Gaza and Lebanon.

Brent crude futures saw a slight decrease of 0.3%, settling at $75.84 per barrel, while U.S. West Texas Intermediate (WTI) crude futures also dipped 0.3% to $71.54 per barrel. Despite the decline, oil prices had risen earlier in the week, supported by uncertainty over how the Israel-Iran conflict might evolve, especially following U.S. Secretary of State Antony Blinken’s diplomatic efforts in Israel.

Meanwhile, the American Petroleum Institute (API) reported a 1.64 million barrel rise in U.S. crude stocks last week, significantly higher than analysts’ expectations of a 300,000-barrel increase. This unexpected stockpile increase weighed on the market, adding pressure to oil prices.

Analysts are also keeping an eye on China’s economic stimulus efforts, which could positively influence global oil demand. Market strategists, like Yeap Jun Rong, have noted that the potential for a longer conflict in the Middle East could lead to continued price volatility.

This situation, combined with geopolitical risks and economic variables, continues to impact global oil markets, leaving traders wary of further price shifts.