The Swedish model: An example for the EU’s economic and technology policy (14.08.2024)
Sweden has an economic model that combines a strong social welfare network with a policy of investment in technology and entrepreneurship. This has allowed the country to excel in creating technological unicorns and compete globally, in contrast to other European countries. Companies such as Spotify and Klarna are examples of their success. Sweden’s experience in technology could serve as a reference for the European Union in its economic growth strategy, by promoting an environment that facilitates innovation, reduces business risk and fosters international competitiveness.
Repsol adapts to European regulations by producing advanced biofuels (28.08.2024)
Repsol is adapting its strategy to comply with European emission reduction regulations through the production of advanced biofuels, made from waste such as cooking oil. These fuels, which reduce carbon emissions by up to 90%, are presented as a viable solution for sectors such as air and land transport. The company has transformed its refinery in Cartagena to produce sustainable fuels, taking advantage of existing infrastructure and complying with EU regulatory requirements that promote greater sustainability in the energy market.
ITFA 50th Annual Conference: Legal and Regulatory Implications for International Trade (06.09.2024)
ITFA’s 50th Annual Conference on International Trade and Forfaiting in 2024 focused on key issues such as the digitisation of trade documents, credit risks in emerging markets and environmental, social and governance (ESG) factors. It addressed regulatory issues impacting supply chain finance and international trade. In addition, industry leaders and legal experts discussed regulatory frameworks, risk management and the role of technology in regulatory compliance, making the event an essential opportunity for the legal and commercial sector.
China-Africa Strategic Partnership: Implications for Global Industrial and Energy Development (07.09.2024)
China has stepped up cooperation with Africa to export its clean technologies, including renewable energy and electric vehicles, due to trade restrictions in the West. At a recent summit, President Xi Jinping announced support for 30 green energy projects, with an investment of 46 billion euros and the creation of jobs in Africa. At the legal and commercial level, Africa seeks a balance in relations, demanding greater access to Chinese markets and technology transfer, which could have implications for industrial growth and energy regulation globally.
Google and Apple face sanctions for antitrust and tax violations in the European Union (10.09.2024)
Google and Apple have faced adverse rulings in the Court of Justice of the European Union, cementing the EU as a leader in technology regulation. Apple must pay €13 billion to Ireland for illegal tax arrangements, while Google was fined €2.4 billion for anti-competitive practices in its search results. These cases, involving taxation and antitrust law, highlight the EU’s increasing involvement in the control of big tech, setting a precedent for global regulation of the sector.
China loses weight as world trade engine and the South takes the lead (15.09.2024)
According to reports by the German multinational DHL, the world’s largest logistics company, China has reduced its role as a driver of global trade, although it is still a major player. In the coming years, its contribution to world trade growth will decline, while emerging economies in the global south, such as Vietnam, India and ASEAN, gain ground. This shift reflects a transformation in the geography of international trade, with a focus on more sophisticated products and less on commodities. Despite recent challenges such as the pandemic and the war in Ukraine, emerging economies are making a rapid trade recovery.
BII provides £30 million to support Ukraine’s international trade in partnership with EBRD (16.09.2024)
British International Investment (BII) has announced a plan to provide up to £30 million to support Ukraine’s international trade, in partnership with the European Bank for Reconstruction and Development (EBRD). The funding aims to mitigate the difficulties Ukrainian companies face in accessing international markets due to the war. The move is part of a wider allocation of £250 million for Ukraine’s reconstruction, reinforcing the UK’s commitment to the country’s economic resilience amid severe trade disruptions.
Tupperware bankruptcy filing and restructuring under US court protection (18.09.2024)
Tupperware Brands has filed for bankruptcy due to persistent financial problems, attributed to its outdated direct sales model and lack of diversification in sales channels. The company, which revolutionised the plastic container market since the 1940s, faces debts of $1.2 billion and assets of $680 million. Its restructuring will be carried out under the protection of the Delaware court, with the aim of continuing operations and facilitating its sale. The company seeks to adapt to new economic and business challenges.
Evolution of Andalusian Exports: A Positive Contrast in the National Scenario (20.09.2024)
Exports from Andalusia have shown a growth of 6.6% in the first seven months of 2024, reaching 26,015 million euros. This increase contrasts with the 3% fall recorded at national level. Sectors such as agri-food, chemicals and minerals have driven this trend, positioning the region as the leading exporter in Spain. This dynamism reflects important implications for international trade and export promotion policies in the national economic context.
Emirates Steel negotiates purchase of Celsa’s international assets in Europe (24.09.2024)
Emirates Steel, controlled by sovereign wealth fund ADQ, is negotiating the acquisition of Celsa’s international assets in Poland, the UK and Norway for approximately €1 billion. This transaction, coordinated by Citi, seeks to divest the European subsidiaries as part of Celsa’s financial restructuring. Despite the complexity of the steel sector, the deal would allow Emirates Steel to expand its international presence, while Celsa is still looking for a Spanish partner to acquire between 20% and 25% of its capital.
Foment calls on EU to avoid trade war with China to protect key sectors (24.09.2024)
Foment del Treball has urged the European Union to avoid a trade war with China due to the investigation into possible unfair practices in the Chinese automotive sector. The Catalan employers’ association fears that an economic conflict could affect other sectors, such as pork, energy and technology. In particular, the impact on pork exports would be significant, putting jobs and the viability of the Spanish agri-food sector at risk. Foment trusts in European diplomacy to negotiate with China and avoid harmful tariff measures.
Geopolitical and Economic Impact on Global Shipping: Challenges for Shipping Companies (24.09.2024)
Shipping lines face a confluence of geopolitical and commercial risks, including the Houthi attacks in the Red Sea, which have disrupted trade routes. This has increased operating costs, but has also allowed for significant tariff increases. However, the industry must contend with overcapacity issues and the effects of the trade war, all in the midst of the transition to more sustainable energy. These factors have important implications for the regulatory framework and international trade.
*******************************************
In Madrid, 30 September 2024
International Trade and Sanctions Department
