Breaking news

ECB Warns Europe Could Suffer In US-China Trade War

by THEFUTURE.TEAM

The European Central Bank (ECB) is considering further interest rate cuts as inflation moderates, but its board member, Piero Cipollone, expressed concern over the potential impact of the ongoing US-China trade tensions on the eurozone. Cipollone noted that while there is room to lower rates further, higher energy prices and global trade uncertainties, including the US-China trade war, complicate the outlook.

The ECB has already cut rates five times since June, with expectations for at least three more rate cuts in 2024 to support economic recovery. However, Cipollone cautioned that committing to a specific timeline, including a likely rate cut in March, remains uncertain due to geopolitical risks.

One significant risk identified by Cipollone is the potential fallout from US tariffs on China, which could force China to redirect its manufacturing and dump discounted goods in Europe. This could hurt European growth and pricing, despite the euro’s likely depreciation against the dollar.

Despite these risks, Cipollone emphasized that a recession is not expected, with strong labor markets, consumption, and construction providing support. The eurozone is not experiencing a boom, but growth is expected to continue, bolstered by ECB rate cuts and signs of stabilization in industrial sectors.

Only 1% Of Cyprus Farms Use Precision Farming Technologies

by THEFUTURE.TEAM

Cyprus remains one of the European Union’s least digitised agricultural economies, with just 1% of farms using precision farming technologies in 2023, according to Eurostat.

The findings come as the EU continues to encourage the adoption of digital tools aimed at improving agricultural productivity, efficiency and sustainability.

Internet Access Expands, But Digital Uptake Lags

Internet access has improved across the bloc, although adoption remains uneven. Eurostat found that 43% of EU farms had internet access in 2023, with northern and central European countries leading the way.

Denmark, Germany, Slovakia, Latvia, the Czech Republic and Austria all reported internet access rates above 90%.

Greater connectivity, however, has not translated into widespread digital adoption. Farm management information systems, which help farmers manage day-to-day operations, were used by only about 11% of EU farms. France was a notable exception, with around 60% of farms using the technology.

Precision Farming Concentrated In Larger Operations

Robotics adoption also remained relatively limited, with only about 7% of EU farms using robotic technologies. Overall, around 18% of farms with utilised agricultural area employed at least one precision farming technology or practice in 2023.

These included robotics for plant protection, band spraying, variable-rate application, precision crop monitoring and soil analysis. Despite representing fewer than one in five farms, these holdings accounted for around 44% of the EU’s utilised agricultural area.

The figures suggest that precision farming remains concentrated among larger agricultural businesses, where investment in digital technologies is typically easier to support.

Cyprus Lags Behind EU Leaders

Luxembourg, Finland and Estonia recorded the highest shares of utilised agricultural area managed by farms using precision farming technologies, each exceeding 75%.

At the other end of the ranking, Cyprus recorded just 1%, while Greece and Romania reported between 10% and 15%. The results indicate that Cyprus remains at an early stage of digital adoption in agriculture, even as precision farming becomes more widespread across parts of the European Union.

eCredo
Uol
The Future Forbes Realty Global Properties
Aretilaw firm

Become a Speaker

Become a Speaker

Become a Partner

Subscribe for our weekly newsletter