BRUSSELS : The European Commission will not propose any new joint EU borrowing on Wednesday when it presents ideas on how to support Europe's green industry facing Chinese and U.S. competition, a draft of its 'Green Deal Industrial Plan' showed on Monday.Instead, the draft seen by Reuters offers to re-pur
BRUSSELS : The European Commission will not propose any new joint EU borrowing on Wednesday when it presents ideas on how to support Europe's green industry facing Chinese and U.S. competition, a draft of its"Green Deal Industrial Plan" showed on Monday.
The Commission's plan is to outline how Europe can keep its place as a manufacturing hub for green products and respond to multi-billion dollar subsidies of China and the United States. This proposal ran into opposition from at least 10, mostly northern European countries, which said the EU should not be borrowing more, if it has not been able to spend what it had already agreed to jointly raise for the 800 billion euro Recovery Fund.
Governments will be able to spend the Recovery Fund money on tax breaks or other forms of support for green investments either as a tax credit, an accelerated depreciation or a subsidy linked to the acquisition or improvement of green assets.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Talking points from European soccerTalking points from the weekend in European soccer leagues:PIOLI UNDER PRESSURE AS MILAN SET UNWANTED RECORDSIt has been a rough start to 2023 for Stefano Pioli and AC Milan, with only one win in seven games. They lost their last two Serie A matches against Lazio and Sassuolo by scorelines o
Read more »
14 romantic European getaways to spend Valentine's DayGet ready to fall in love all over again.
Read more »
How much should I pay for property agent commission?A good property agent more than deserves his/her commission, but many buyers and sellers are often unsure about how much to pay. And it’s the same with landlords and tenants. There are many factors that determine property agent commission in Singapore; even seasoned sellers, buyers and renters do get confused about industry standards. So here’s our guide to help you...
Read more »
EU warns of 'unfair' Chinese subsidies in Green Deal plan - draftBRUSSELS : Europe and its partners must do more to combat the effect of Chinese subsidies for the manufacture of clean technology products, the European Commission is set to say on Wednesday in its 'Green Deal Industrial Plan'.The plan is designed to outline how Europe can keep its place as a manufacturin
Read more »
Belarusian Sabalenka crowned first 'neutral' Grand Slam championMELBOURNE – With daring, resolve and a thunderous forehand, Aryna Sabalenka rose above geopolitical tumult to become the first player to claim a Grand Slam title as a neutral at the Australian Open. The big-hitting Belarusian overhauled Wimbledon champion Elena Rybakina 4-6 6-3 6-4 in the final at Rod Laver Arena on Saturday while barred from representing the eastern European...
Read more »
Marketmind: Breathe inA look at the day ahead in European and global markets from Tom WestbrookMarkets are holding their breath for a week where central banks may start to take divergent paths.Chinese markets have returned from the Lunar New Year break with a bit of a whimper rather than a bang [.SS] and the wind filling th
Read more »