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The FinTech Action Plan
Commission takes action for a more competitive and innovative financial market
The European Commission is today unveiling an Action Plan on how to harness the opportunities presented by technology-enabled innovation in financial services (FinTech) 
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 OECD report
Small business access to alternative finance increasing as new bank lending declines
Small and medium-sized enterprises (SMEs) are increasingly turning to alternative sources of financing, while new bank lending is declining in a number of countries. Many SMEs remain over-reliant on bank credit, however, and the take-up of instruments other than straight debt varies greatly from one country to another, according to a new OECD report.
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Competing bid
EU approves the proposed acquisition of Abertis by Hochtief
The European Commission has cleared, under the EU Merger Regulation, the proposed acquisition of Abertis by Hochtief. The Commission concluded that the merged entity would continue to face effective competition in the relevant markets. Abertis manages and operates toll road infrastructure. Hochtief, ultimately controlled by the ACS Group, is mostly active in the construction sector.
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 Pilot project proposed by MEP von Weizsacker
European Commission launches the EU Blockchain Observatory and Forum
The Commission launched the EU Blockchain Observatory and Forum with the support of the European Parliament, represented by Jakob von Weizsäcker responsible for the recent report on virtual currencies.
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 Spain, top destination abroad in Europe
Highest growth in total tourism nights in Europe
In 2017, the number of nights spent in tourist accommodation establishments in the European Union (EU) is expected to have reached more than 3.2 billion, up by 5.1% compared with 2016. Since 2009, there has been a steady increase in the number of nights spent in tourist accommodation establishments in the EU, notably driven by the rise in the nights spent by non-residents of the country visited.
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Payment regulation
Commission welcomes new rules that benefit consumers by promoting more competition in card payments
The European Commission has issued new requirements that ensure independence of payment card schemes and processing entities, to enhance competition in the card payment market. Retailers will be able to choose the most suitable processor for their card transactions, to the benefit of consumers.
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 Payment Services Directive
Consumers to benefit from cheaper, safer and more innovative electronic payments
European consumers will be able to reap the full benefits of paying online for goods and services, thanks to new rules that will it make it cheaper, easier and safer to make electronic payments.
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 Economic and psychological analyses
Richard H. Thaler wins the Nobel Prize for Economics
Richard H. Thaler won the Nobel Prize for Economics, a reward for 40 years of work spent studying human bias and temptation when many fellow economists preferred to view people as rational actors.
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A key sector in the world
27 September: World Tourism Day
Ever since its inception, World Tourism Day is celebrated on 27 September to foster awareness among the international community of the importance of tourism and its social, cultural, political and economic value. As the official day set aside in the United Nations Calendar the celebration seeks to highlight tourism potential to contribute to reaching the Sustainable Development Goals (SDGs), addressing some of the most pressing challenges society is faced with today.
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 Interim Economic Outlook.
OECD sees global economy growth, but urges actions to ensure sustainable and inclusive growth
The world economy has picked up momentum, as expanding investment, employment and trade support synchronised growth across most countries, according to the OECD´s latest Interim Economic Outlook.
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facial recognition technology
Alibaba launches "smile to pay"
Alibaba´s Ant Financial affiliate launched the ´smile to pay´ service in Hangzhou, the location of the company´s global HQ, where it is being trialled with KFC.
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 Fourth quarter of 2016
House prices up by 4.1% in the euro area
House prices, as measured by the House Price Index, rose by 4.1% in the euro area and by 4.7% in the EU in the
fourth quarter of 2016 compared with the same quarter of the previous year. These figures come from Eurostat,
the statistical office of the European Union
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University of Cambridge study
Teacher encouragement has greatest influence on less advantaged children
Schoolchildren who receive words of encouragement from a teacher are significantly more likely to continue their education beyond the age of 16 than those who do not, a new study suggests.
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European Commission
EUR 1 billion mark reached as the EU steps up support for micro-entrepreneurs
Since the EU started its microfinance initiatives, more than 100 agreements have been signed with microfinance providers, to support over 100,000 micro-entrepreneurs in 23 EU member states.
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6th High-level Economic and Trade Dialogue
EU and China discuss trade, investment, overcapacity and cooperation on state aid control
The EU and China held their 6th annual EU-China High-level Economic and Trade Dialogue (HED) in Brussels . The meeting was co-chaired by Jyrki Katainen, European Commission Vice-President for Jobs, Growth, Investment and Competitiveness, and Chinese Vice-Premier Ma Kai.
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New chapter in their bilateral relations
Economic Partnership Agreement with southern African countries enters into effect
Development-oriented agreement with five southern African countries ensures immediate duty- and quota-free access for their exports to the EU market.
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Engineers will focus on electric car technology
Volvo opens offices in Silicon Valley
The Swedish car company is in the process of opening a research center in Mountain View, Lex Kerssemakers, CEO of Volvo´s U.S. division, said in an interview. The company is hiring some 70 engineers for the office, he said
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20 September 1976
40 years ago: signing of the act to make direct European elections possible
Over the course of its existence, the European Parliament has transformed itself from an assembly with limited powers to a decision-making body directly shaping EU policies. It has been a long road, but one of the milestones was 20 September 1976, when ministers signed rules allowing direct European elections. The elections, held about three years later, gave new democratic legitimacy to the Parliament and allowed MEPs to seek more powers in shaping European policies.
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New York Fashion Week
Acid attack survivor will walk in New York Fashion Week
Reshma Qureshi, an acid attack survivor, will make a strong political statement when she walks the runway for New York Fashion Week. The 19-year-old is the face of #EndAcidSale, a campaign created by New Delhi-based non-governmental organization Make Love Not Scars that is against the sale of acid and acid attacks in India. She will bring their message to North America – and the VIP fashion event – for the first time.
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 BNY Mellon, Deutsche Bank, Santander and UBS
Big Banks plan to launch a new digital currency
Four banks have reportedly partnered on a blockchain project aimed at creating a means to clear and settle transactions worldwide. BNY Mellon, Deutsche Bank, Santander and UBS are hoping to launch a commercial-grade blockchain system by 2018
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 Eurostat
House prices up by 3.0% in the euro area in the first quarter of 2016
House prices, as measured by the House Price Index, rose by 3.0% in the euro area and by 4.0% in the EU in the first quarter of 2016 compared with the same quarter of the previous year. These figures come from Eurostat, the statistical office of the European Union. Compared with the fourth quarter of 2015, house prices rose by 0.4% in the euro area and by 0.7% in the EU in
the first quarter of 2016.
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"ready-to-use" financial instruments
Commission launches new financial instruments to boost investments in start-ups
The European Commission adopted two new "off-the-shelf", i.e. "ready-to-use" financial instruments for ESI Funds investments, to ease access to funding for young businesses and urban development project promoters
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 Stability and Growth Pact
Spain and Portugal will not correct their excessive deficits by the recommended deadline
As announced in its Communication of 18 May, the Commission came back to the fiscal situation of Spain and Portugal. The College of Commissioners confirmed that Portugal did not correct its excessive deficit by the deadline of 2015 and that Spain is unlikely to correct its excessive deficit by the 2016 deadline.
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 Corporate taxation
Tax avoidance by companies cost EU countries €160-190 billion in lost revenue a year.
Tax avoidance by companies cost EU countries €160-190 billion in lost revenue a year. MEPs will discuss new measures to fight the most common practices on Tuesday 7 June and vote on them the following day. Read more about the legislation and check our infographic that shows corporate tax rates and respective tax income by member state.
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ICBC to buy London gold vault
ICBC to be first Chinese lender to own London vault
China´s ICBC Standard Bank, the world´s biggest bank by assets, has agreed to buy a massive vault in London. It will be the first Chinese lender to own a vault in London as it looks to grow its precious metals business.
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