Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 31 n° 330

Posts Tagged ‘agreement’

A new agreement between Broadband Forum (BBF) and the Open Networking Foundation (ONF)

Posted by fidest press agency su mercoledì, 16 ottobre 2019

BAA and SEBA/VOLTHA are complementary because they solve different carrier problems, while addressing operators’ increasing desire to move to agile, software-defined access networks via open source development with open and standardized interfaces. The agreement between Broadband Forum and ONF further builds on this by focusing on the most important aspects of migration and co-existence to interconnect existing parts of the access network with new technologies. Broadband Forum and ONF believe that many types of carrier deployments would benefit from the capabilities offered by OB-BAA and SEBA/VOLTHA. The cooperation between the two organizations takes their work to the next level, providing an effective and efficient path for operators to leverage the innovations and benefits of both initiatives while ensuring interoperability, high performance, scalability and maximum reliability.

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MARV and Coty Inc. Announce New Fragrance Agreement

Posted by fidest press agency su venerdì, 11 ottobre 2019

Coty Inc. and Matthew Vaughn today announced a global creative partnership to launch a new line of Kingsman fragrances for men, to be sold at select luxury retailers. The first release will debut alongside the upcoming MARV and 20th Century Fox title The King’s Man, in February 2020.Matthew Vaughn is director, writer and producer of the Kingsman film series, whose smash hit films Kingsman: The Secret Service (2014) and Kingsman: The Golden Circle (2017) have inspired several groundbreaking luxury retail partnerships, including the successful KINGSMAN luxury men’s wear and accessories collection by MR PORTER and Vaughn, currently in its 10th season.Edgar Huber, President Coty Luxury, added, “As a unique, quintessentially-British lifestyle brand, Kingsman fits perfectly within Coty Luxury’s portfolio and nicely complements our strong luxury men’s fragrance business. Through our combined strength in storytelling and Coty’s marketing and commercial expertise, we are uniquely positioned to translate the Kingsman universe into a success in fragrances.” Matthew Vaughn states, “This partnership is a further evolution of the Kingsman brand; a collaboration that represents the same high quality and craftsmanship the Kingsman portfolio is known for. Working with Coty’s expertise in fragrance, and with a truly exciting campaign to come, I look forward to the launch of the newest addition to the Kingsman collection.”

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Blackstone Announces Agreement to Acquire Vungle

Posted by fidest press agency su giovedì, 18 luglio 2019

Blackstone (NYSE:BX) announced today that private equity funds managed by Blackstone (“Blackstone”) have agreed to acquire Vungle, a leading performance marketing platform for in-app video advertisements on mobile devices.Vungle is trusted by publishers of more than 60,000 mobile apps worldwide, including top brands such as Rovio, Zynga, Pandora, Microsoft, and Scopely, among others. The company serves more than 4 billion video views per month on over a billion unique devices, and is consistently ranked #1 for cross-platform user retention by industry mobile performance indexes. Vungle is headquartered in San Francisco with offices in London, Berlin, Beijing, Tokyo, Singapore and Seoul.Sachin Bavishi, Principal at Blackstone, said, “As a best-in-class performance marketing platform, Vungle represents a key growth engine for the mobile app ecosystem. Our investment will help deliver on the company’s tremendous growth potential and we look forward to partnering with management to extend Vungle’s strength across mobile gaming and other performance brands.”In connection with the transaction, Vungle has also reached a settlement agreement with founder Zain Jaffer and is pleased to have this matter resolved. Terms of the agreement were not disclosed.The transaction is expected to close later this year, subject to customary closing conditions. Goldman Sachs & Co. LLC is serving as financial advisor to Vungle and Guggenheim Securities, LLC is serving as financial advisor to Blackstone on the transaction. DLA Piper LLP (US) is serving as legal advisor to Vungle and Simpson Thacher & Bartlett LLP is serving as legal advisor to Blackstone.

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Agreement on Europzone budget is a step forward but more is needed to safeguard the Eurozone

Posted by fidest press agency su lunedì, 24 giugno 2019

The European Council reached an agreement on the creation of a budget for the Eurozone. Sandro GOZI, President of the Union of European Federalists comments: “After many months of blockage and inaction, today’s agreement on the creation of a budget for the Eurozone is a small but important symbolical step forward. While the size of the budget is likely to be very small, the agreement of national governments that a common currency needs a common budget is a major breakthrough for the future development of the Eurozone architecture. When the next economic crisis hits, we need a tool on the European level to fight back, and it has been time that all Member States agreed to this principle.”“Unfortunately, President Macron’s proposals have been watered down in negotiations, leaving us with a less than ideal result. I fear that the current proposal risks not only being too small to counter a major crisis like in 2012 but also it duplicates parts of existing programmes instead of filling the gaps in the Eurozone architecture.”“Building on this proposal the new Commission should propose an additional budgetary capacity that is not part of the general EU budget and can be scaled up quickly when it is needed. Such a budget also should give the flexibility to spend the funds where and when it is needed and not be allocated to Member States over seven years according to their contributions. Time is running out to fix the roof while the sun is shining. Negotiations on the Eurozone budget need to be decoupled from the general EU budget and start focusing on building a real monetary and fiscal union before it is too late”, continues Sandro GOZI.

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Globality and HSBC Enter Into Agreement to Realize the Financial Services Leader’s Vision for AI-Driven Self-Serve Procurement

Posted by fidest press agency su venerdì, 24 Mag 2019

Globality, Inc. announced today that it has entered into an agreement with HSBC, one of the world’s leading banking and financial services companies, in which HSBC is adopting Globality’s innovative AI-based Platform for sourcing and procurement of services.
HSBC is at the forefront of revolutionizing sourcing by enabling its business stakeholders to do self-serve procurement utilizing Globality’s artificial intelligence, real-time collaboration and intuitive user experience. With Globality’s AI-based Platform, HSBC users will be able to scope projects in hours rather than days, and intelligently match their unique requirements to the best suppliers around the world.
Finding the best service provider at the right price for every project is impossible to achieve with legacy systems that are mostly analog and are not continuously learning, capturing knowledge, or digitally sharing results and feedback. As a result, companies do not get maximum value from third-party suppliers. Nor do they get the unprecedented access to a worldwide network of highly qualified, carefully vetted firms that are members of Globality’s Service Provider Network.“We are very grateful for the opportunity to work with HSBC’s procurement team to advance their vision of a fully automated procurement process that enables their internal stakeholders to source higher quality, lower cost services. HSBC is a leader in creating a vision for the future of procurement, understanding that the legacy systems of paper-intensive RFPs and sole source negotiations do not result in strategic value. Utilizing AI technology and Globality’s “smart sourcing” process will ensure that all HSBC service providers, large or small, win projects in a transparent digital ecosystem where decisions are based solely on the merits of quality, results, costs, and performance,” said Globality Co-founder, Chairman, and CEO Joel Hyatt.Globality’s Platform provides companies with a highly secure and digital way to fully scope projects, engage qualified suppliers, assure pricing and quality competition, effectively evaluate proposals, and make informed sourcing decisions. In addition, using Globality’s Platform significantly accelerates the entire procurement process, enabling far faster speed to market.

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EPIX and AT&T Reach Distribution Agreement

Posted by fidest press agency su venerdì, 10 Mag 2019

EPIX, the premium TV network owned by Metro Goldwyn Mayer (MGM), and AT&T (NYSE: T) today announced that they have reached a distribution agreement that will make EPIX available on a subscription basis to customers for $5.99 beginning Sunday, May 19th. The network will also be available soon on the streaming service DIRECTV NOW. Terms of the agreement were not disclosed.“We are thrilled to expand our relationship with AT&T and make our growing slate of original programming and Hollywood movies accessible to viewers across the DIRECTV universe,” said Michael Wright, President, EPIX. “It’s an exciting moment of growth for us as we build a brand that delivers a superior customer experience with high-powered, premium original series to a new audience on DIRECTV and DIRECTV NOW.”Added Monty Sarhan, EVP and General Manager, EPIX, “AT&T has been a tremendous partner of ours over the years. We are extremely excited about launching on DIRECTV and expanding EPIX’s availability nationwide. This is an incredibly important platform for us and a truly momentous launch for our network.” “We are pleased to add EPIX to our vast content offering in the premium TV category. With its growing lineup of original programming, EPIX is a great addition for our DIRECTV customers,” said Dan York, Senior Executive Vice President and Chief Content Officer for AT&T.

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Agreement on the first ever multi-annual fisheries management plan in the Western Mediterranean

Posted by fidest press agency su sabato, 2 marzo 2019

The European Parliament and the Council have reached an agreement on the Commission’s proposal establishing a multi-annual plan for fish stocks in the western Mediterranean Sea, covering mainly areas that concern France, Italy and Spain. The agreement will help restore stocks in the region to levels that can ensure social and economic viability for the fishers.
Commissioner for the Environment, Maritime Affairs and Fisheries Karmenu Vella said: “I am happy that an agreement was reached on our proposalSearch for available translations of the preceding link for the Western Mediterranean Sea region presenting a momentous leap forward in delivering concrete EU commitment to restore vital fish stocks and prevent a loss of jobs in sectors that depend on fisheries. The Mediterranean Sea is highly overfished, as we know, and this first multi-annual plan gives the reassurances needed to change the situation for the better – a win-win situation for our fishermen and oceans alike setting the bar for further progress in the Mediterranean.”Around 16,000 jobs depend on the robust stock preservation measures detailed in the plan. The proposal covers demersal fish stocks, i.e. fish that live and feed at the bottom of the seabed. Catches for these stocks have significantly decreased by around 23 % since the early 2000s. At this rate, more than 90 % of the stocks assessed would be overfished by 2025. The agreement reached last night aims to tackle this critical and urgent issue, and bring back demersal fish stocks to sustainable levels, while ensuring long-term profitability for our fishers.Given the worrying situation of the stocks and the date of entering into force of the plan, a five-year transitional period was included in order to progressively decrease fishing mortality towards the target MSY. The main measures of the plan include an EU fishing effort regime for all trawl vessels operating in the western Mediterranean and a 3-month closure area for the protection of juveniles. Recreational fisheries will also play a greater role, with the possibility of setting non-discriminatory limits in the Council and technical measures through Regionalisation. Finally, control measures will fully apply in order to monitor the fishing effort regime. Once formally adopted, this will be the first multi-annual plan at EU level in the Mediterranean Sea. This reflects Commission’s important work and ambition for Mediterranean fisheries.

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Sinovac Determines Trigger Event Occurred Under Rights Agreement

Posted by fidest press agency su martedì, 26 febbraio 2019

Sinovac Biotech Ltd. (NASDAQ: SVA) (“Sinovac” or the “Company”), a leading provider of biopharmaceutical products in China, today announced that its Board of Directors (the “Board”) determined that certain stockholders became “Acquiring Persons,” as defined in the Company’s Rights Agreement (“Rights Agreement”), prior to the Company’s Annual General Meeting held on February 6, 2018 (the “AGM”). As a result, a “Trigger Event” occurred under the Rights Agreement. The Board effectuated the exchange (the “Exchange”) of each preferred share purchase right (the “Rights”) that was valid and outstanding as of the close of trading in the United States on February 22, 2019 for 0.655 of the Company’s common shares (the “Common Shares”) and .345 of the Company’s newly created Series B Convertible Preferred Shares (the “Series B Preferred Shares” and, together, each an “Exchange Share”). The total Exchange Shares to be received by any holder will be rounded up to the nearest whole Common Share and rounded down to the nearest whole Series B Preferred Share. Since the Company is issuing a significant number of new Common Shares and Series B Preferred Shares in the Exchange, shareholders should expect the share price to adjust downwards to reflect the issuance of the Exchange

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CoStar Group Announces Agreement with Oxford Economics

Posted by fidest press agency su sabato, 16 febbraio 2019

CoStar Group, Inc. (NASDAQ: CSGP), the leading provider of commercial real estate information, analytics and online marketplaces, announced an expanded agreement with Oxford Economics, the leading global economic advisory firm and provider of economic data, analysis, and forecasts. Oxford Economics will provide CoStar with the economic data and forecasts used in CoStar’s product offerings and commercial real estate forecasting models across the United States, Europe, and Canada.“We have worked with Oxford Economics for nearly a decade in Europe and are pleased that they are now forecasting all US metros, allowing CoStar to have a consistent economic data provider and view across both North America and Europe,” said John Affleck, CoStar’s Vice President of Market Analytics. “Their Global Macro Model is the industry standard for integrated global economic forecasting, and will allow CoStar to produce custom economic scenarios. And, their county- and LAD-level data enables us to include economic effects at a sub-market level in our forecasting models.” Headquartered in Oxford, UK with offices around the world, Oxford Economics employs more than 250 economists and analysts serving leading multinational companies, financial groups, real estate organizations, governments, central banks and academic institutions worldwide. Long regarded as the industry leader in city, regional and other sub-national economic forecasting globally, Oxford Economics recently expanded its US forecasting coverage to include more than 3,500 sub-national economies, spanning all 50 states, 382 metros and 3,142 counties.CoStar’s forecasting model, as seen in CoStar’s market and submarket reports, will be fueled with Oxford Economics metro-level data, a range of economic scenarios beyond the Base Case, including an Upside, Slower Growth, a Recession case, and an Interest Rate Shock scenario.

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US climate policy: one year on from the announcement of Paris Agreement withdrawal

Posted by fidest press agency su giovedì, 31 Mag 2018

One year ago this week (June 1 2017), President Trump announced the US would withdraw from the Paris Agreement. The Climate Action Tracker has recently updated its assessment of US climate action, and has found the following:Despite efforts by the Trump Administration to roll back climate policies, renewable energy from wind and solar is still developing so fast that the CAT had to revise its projections for US emissions in 2030 downwards by 5%. US emissions projections decrease slightly through the early 2020s and then level off in 2030.
In 2017, fossil fuel-fired electricity generation experienced its steepest year-on-year decline since the 2008 financial crisis, as wind and solar reached record shares in the electricity mix, and 6.3 GW of coal-fired capacity was shut down, despite the Trump Administration’s attempts to boost coal. Current US policies are projected to reduce emissions by 11–13% below 2005 levels by 2025—only half of the reductions in the US’s Paris Agreement pledge.
The CAT rates the US NDC (because of the announced withdrawal from the Paris Agreement) as “Critically Insufficient” and its policies as “Highly Insufficient”
“While continued coal use is still firmly in the sights of the US Administration, the reality on the ground is renewables: there are clear signs from on the ground that renewable energy is taking over due to cost-competitiveness, and is highly likely to continue doing so” – Bill Hare, CEO, Climate Analytics. All eyes remain on the “We Are Still In” campaign where at least 21 States have emissions reduction targets. The full implementation of current recorded and quantifiable non-federal climate commitments could take the US halfway toward meeting its NDC commitments. “If developments on renewables continue as positively as in the past, and new commitments by US states, cities and businesses are implemented, the USA could still meet its Paris commitment,” – Prof. Niklas Höhne, NewClimate Institute.

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TSYS Extends Existing Agreement with Capital One UK

Posted by fidest press agency su sabato, 3 marzo 2018

TSYS (NYSE: TSS), a leading global payments solutions provider, today announced it has extended its long-term agreement with Capital One (Europe) PLC to continue providing processing services for Capital One’s UK portfolio of consumer credit card accounts for multiple years. This news comes on the heels of TSYS extending its agreement with Capital One Financial (NYSE: COF) in North America, announced in December 2017.Capital One has grown to become one of the UK’s top ten card providers in just over 20 years, with a focus on customer service. This has resulted in Capital One becoming the only card provider with a 4-star rated credit card from the Fairbanking Ratings Report*.“TSYS and Capital One have forged an excellent working relationship through the years, which has resulted in strong growth and innovative partnerships” said Ashley Beard, Director of Account Management, TSYS International. “This ongoing partnership creates further opportunities for continued success to bring innovative card solutions to market with our award-winning and dynamic partner.”

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Exactech Shareholders Approve Merger Agreement with TPG Capital

Posted by fidest press agency su mercoledì, 14 febbraio 2018

Exactech (Nasdaq: EXAC), a leading developer and producer of orthopaedic implant devices and surgical instrumentation for extremities and large joints, today announced that at a Special Meeting of Shareholders held earlier today, Exactech’s shareholders approved the previously announced merger agreement with TPG Capital and certain of its affiliates, and approved the other two proposals described in Exactech’s proxy statement relating to today’s meeting.Approximately 94.5% of voting Exactech shareholders cast their votes in favor of the merger, representing approximately 73.7% of Exactech’s outstanding common stock as of the record date for the special shareholder meeting. The final results will be available on a Current Report on Form 8-K, to be filed later this week by the company.Upon completion of the transaction, Exactech shareholders will receive an amount in cash equal to $49.25 per share of Exactech common stock. The transaction remains subject to customary closing conditions and is expected to close on or around February 14, 2018, at which time Exactech will become a private company and its common stock will no longer trade on the NASDAQ. In addition, the company’s common stock will cease to be registered under Section 12 of the Securities Exchange Act of 1934, as amended.

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Denmark-Europol: Civil Liberties MEPs vote first step towards the establishment of a cooperation agreement

Posted by fidest press agency su sabato, 11 febbraio 2017

europolDenmark should be added to the list of countries with which Europol can conclude operational cooperation agreements, the Civil Liberties Committee recommended on Thursday. However, MEPs also stress that such an agreement would be exceptional and should only be transitional.
The Committee passed the draft report by Agustín Díaz de Mera García Consuegra (EPP, ES) unanimously (42 votes in favour) recommending that Denmark be added to the list, but also calling on the Council to provide “for an expiry date of five years after the date of entry into force of the agreement.”Including such a sunset clause would be in line with the Declaration by the President of the European Council, the President of the Commission and the Prime Minister of Denmark of 15 December 2016, MEPs say and point out that the declaration stresses not only the operational needs, but also the “exceptional and transitional nature of the foreseen arrangement between Europol and Denmark”.
The recommendation to add Denmark to the list of countries with which Europol can conclude cooperation agreements is scheduled for a plenary vote next week in Strasbourg (13-16 Feb).
Adding Denmark to the list of countries with which Europol can conclude cooperation agreements (Decision 2009/935/JHA) constitutes a first step towards setting up an operational cooperation agreement between Denmark and Europol so as to minimise the negative impact of Denmark’s departure from Europol on 1 May 2017, following the Danish referendum on 3 Dec. 2015, and avoid creating gaps in the joint fight against serious crime and terrorism.
After the plenary vote on the recommendation to add Denmark to the list, Council will need to consult Parliament on establishing the concrete cooperation agreement between Europol and Denmark.
Parliament has no formal say on adding Denmark to the list and establishing a cooperation agreement, but it needs to be consulted on both issues before an agreement can be concluded.

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Paris Agreement spells the end of the fossil fuel era

Posted by fidest press agency su venerdì, 4 novembre 2016

Amsterdam. As the Paris agreement comes into force tomorrow, setting an irreversible trajectory towards the complete phase out of fossil fuels, Greenpeace International Executive Director, Jennifer Morgan, said:“By governments committing to the Paris agreement they have underscored the inevitable global transition away from fossil fuels. With renewable energy already winning markets from fossil fuels and coal heading into amsterdamterminal decline we have good reasons to be optimistic, but it will take even more innovation and civic support before we can uncork the champagne. We need to see governments’ national plans be much more ambitious in cutting emissions, because their current contributions to this agreement are nowhere near enough to achieve its goals.We expect that in the next couple of weeks, at the Marrakech climate talks, governments will start addressing this dangerous gap with the urgency our planet requires.”Commenting on the UNEP Emissions Gap report 2016, Morgan added:“We’re entering the crucial years in our fight against climate chaos when we can still tackle climate change with clean, safe and smart solutions that are proven, ready to roll out and come with absolute benefits to our health, jobs and to the environment. If we miss this window because we’re stuck with weak national targets, it will quickly close and we’ll be left with big costs, big risks and big question marks. The only choice is to act now.”

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Parliament endorses EU-Peru visa waiver agreement

Posted by fidest press agency su giovedì, 7 luglio 2016

Lima Cattedrale - Credit PromPerùAn EU-Peru visa waiver agreement enabling Peruvians to travel to the EU and EU nationals to travel to Peru without requesting a visa for stays up to 90 days within any 180-day period was endorsed by MEPs on Tuesday. The deal was approved by 611 votes to 59, with 21 abstentions.The agreement, signed in Brussels on 14 March by foreign affairs minister Ana María Sánchez de Ríos for Peru, Dutch foreign affairs minister Bert Koenders for the EU Council and Commissioner Dimitris Avramopoulos for the EU, has applied provisionally since 15 March, pending Parliament’s approval.The deal applies to all citizens holding a valid ordinary, diplomatic, service, official or special passport, travelling for any legal purpose except carrying out a paid activity. For that category, each member state individually may decide to impose or withdraw a visa requirement for Peruvians citizens, and Peru may choose to do likewise for citizens of each EU country.Parliament´s rapporteur, Mariya Gabriel (EPP, BG), says that the visa waiver will enhance economic and cultural relations and also intensify political dialogue, including on human rights and fundamental freedoms. She also notes that Peru was one of a minority of Latin American countries still subject to EU visa requirements.
The deal will not apply to UK and Ireland, as stipulated in protocols to the EU treaties. The visa regime for these member states remains subject to their national laws. In the case of France and the Netherlands, the agreement’s provisions apply only in their European territories.

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Parliament endorses deal on new EU rules on presumption of innocence

Posted by fidest press agency su giovedì, 21 gennaio 2016

parlamento europeoThe European Parliament endorsed on Wednesday the agreement reached with the Council last November on new legislation to ensure that the right to the presumption of innocence in criminal proceedings is applied consistently throughout the EU, so that Member States can have full trust in each other´s criminal justice systems.Under the directive, that was passed in plenary with 577 votes in favour, 48 against and 86 abstentions, Member states shall take measures to ensure that public authorities do not refer to suspects or accused persons as being guilty “before such persons have been proven guilty according to law” and they will have to abstain from presenting suspects or accused persons as being guilty, through the use of handcuffs, glass boxes, cages or leg irons, unless those measures are strictly necessary.The negotiators also agreed that the burden of proof in establishing the guilt of suspects or accused persons always lies on the prosecution and any doubt should benefit the accused, while the exercise of the right to remain silent may not be used against a suspect or accused person. The directive still needs to be formally adopted by the Council. Member states will have two years from the date of its publication in the EU Official Journal to transpose it into national law.

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Melexis & Mouser Sign Global Supply Chain Agreement

Posted by fidest press agency su giovedì, 12 novembre 2015

melexisTessenderlo, Belgium, Melexis, a global microelectronics engineering company, has further reinforced its worldwide distribution channels with the announcement that it will partner with Mouser Electronics Inc. The global distribution agreement now established between the two companies will mean that Melexis’ state-of-the-art semiconductor products, for automotive, consumer, industrial, home/building automation and medical applications, will be added to the Mouser linecard.The Melexis portfolio features many industry-leading solutions, including magnetic sensors, high performance imaging devices, MEMS pressure sensors, motor control ICs and wireless/wireline communication ICs. These help raise the energy efficiency levels of household appliances, improve patient monitoring and enable the wireless charging of portable electronics equipment, as well as leading to vehicles that are safer to drive and have lower carbon emissions. Among the Melexis products that can now be sourced via Mouser is the MLX90393 ‘software defined sensor’. Utilizing Melexis’ proprietary Triaxis® technology, this highly flexible micropower magnetometer offers 16-bit resolution magnetic measurement along X, Y and Z axes (plus thermal measurement). It presents engineers with a vital building block upon which any magnetic sensing application can be based – including joysticks with push detection, rotary/push knobs and sliding switches. It is designed for 2.2V to 3.5V operation. Also available from Mouser is the MLX90614 automotive-grade digital infrared (IR) thermometer, which provides a highly effective non-contact method for measuring object temperatures up to +380°C. This integrates a low-noise amplifier, 17-bit analog-to-digital converter (ADC) and powerful digital signal processing (DSP) unit to deliver 0.5°C accuracy across a wide temperature range, with resolution of up to 0.01°C. In addition to these devices, Mouser is also stocking the MLX81106 LIN RGB slave controller and MLX90129 13.56MHz sensor transponder IC.“Melexis has made great progress during 2015 in strengthening its global distribution network,” states Gianluigi Morello, Global Sales Director for Melexis. “Our cooperation with Mouser is a vital part of this work. As a result we will now be even better positioned to deal with growing market demands over a wide range of different industry sectors.” (photo: melexis)

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EIB and World Bank join forces with new agreement to support Ukraine

Posted by fidest press agency su mercoledì, 14 ottobre 2015

Ucraina-graThe European Investment Bank (EIB) and World Bank (WB) today signed an agreement under EU guarantee that aims to facilitate the purchase of gas by Ukraine’s national gas company, NJSC Naftogaz. The agreement was signed today by EIB President Werner Hoyer and World Bank Group President Jim Yong Kim. The EIB will guarantee up to USD 520 million of selected World Bank loans in Ukraine, which will enable the World Bank to guarantee letter of credit facilities for gas purchases by Naftogaz. Today’s agreement was facilitated by a counter-guarantee of the European Union granting comprehensive cover to the EIB linked to risks of these selected WB loans in Ukraine.
EIB President Werner Hoyer commented: “European and global institutions are committed to helping Ukraine avert a potentially severe energy crisis as winter approaches. The guarantee agreement we signed today will facilitate Ukraine’s purchase of gas at a critical time. The deal reflects the EIB’s enduring support for Ukraine as part of EU cooperation with the country and the Union’s Eastern Neighbourhood region.”
“The new agreement is part of our broad support to the restructuring of the gas sector in Ukraine and it will contribute to adequate gas supplies for the next three years,” said Jim Yong Kim. “The World Bank Group is committed to continue supporting Ukraine’s ambitious reform program and we are pleased to work jointly with the EIB.”
The new agreement is part of the support for Ukraine by the European Union and international financial institutions, under which the EIB guarantees World Bank investment development projects in Ukraine. The EIB guarantee is structured under the 2014-2020 External Lending Mandate and benefits from the EU comprehensive guarantee.
The EIB – the European Union’s bank – finances projects in Ukraine on the basis of the EU External Lending Mandate, including also Eastern Neighbourhood countries comprising Ukraine. The mandate provides EIB with a guarantee covered by EU Budget for projects of significant interest to the EU and its Eastern Neighbours in the areas of local private sector development, social and economic infrastructure and climate change.In March 2014, the European Commission announced an EU support package amounting to EUR 11 billion for 2014-2016 for Ukraine in grants and lending. For its part, the EIB is contributing to this package by lending up to EUR 3 billion during 2014-2016, should political and operational conditions allow. The EU bank will focus on energy and infrastructure investment as well as access to finance for SMEs. Since the beginning of 2014 and by mid-October 2015, the EIB has already contributed EUR 1.8 billion, supporting a series of high priority projects in Ukraine.The World Bank Group has provided in the last 18 months more than US$4.1 billion to Ukraine in budget support, investment operations and private sector financing, including US$3.875 billion from IBRD, of which US$2.25 billion in fast-disbursing budget support, and US$250 million from IFC.The World Bank is also supporting Ukraine through policy advice and technical assistance in formulating and implementing comprehensive structural reforms. These include, among others, reforms to: improve public sector governance and efficiency in the use of public resources and fight corruption; restore fiscal and external account balances; stabilize the banking sector; enhance the investment climate; restructure the energy sector; and strengthen the social safety net system to target assistance to the poor and most vulnerable.

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“Safe Harbour” ruling: Civil Liberties MEPs to debate data transfer protection

Posted by fidest press agency su martedì, 13 ottobre 2015

european commissionThe European Court of Justice’s 6 October ruling that the “Safe Harbour” agreement on data transfers to the US is in fact unsafe will be debated by Civil Liberties Committee MEPs on Monday afternoon. The court found in favour of Max Schrems, who argued that Facebook transfers of EU citizens’ data to the US does not afford the adequate protection required by EU law. The committee debate will be based on a presentation prepared by Parliament’s Legal Service. Austrian citizen Max Schrems brought a case arguing that Edward Snowden’s revelations of the US National Security Agency’s PRISM data collection programme, under which EU citizens’ data held by US companies was passed on to US intelligence companies, calls into question the adequacy of the data protection afforded by the Safe Harbour agreement.After the ruling, Civil Liberties Committee Chair Claude Moraes (S&D, UK) called on the
to act immediately to provide clarity and proper data protection standards for data transfers to the US.The European Parliament has repeatedly called for the suspension of Safe Harbour, most recently in its 2014 resolution on the surveillance carried out by the NSA.

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MEPs give go-ahead to relocate an additional 120,000 asylum seekers in the EU

Posted by fidest press agency su venerdì, 18 settembre 2015

Parliament’s backing in record time of the European Commission’s 9 September proposal to relocate 120,000 asylum seekers sends a clear signal to EU home affairs ministers, who meet again on Tuesday 22 September, that it is high time to act and finally agree on this second emergency scheme.”It is very rare for the Parliament to use this procedure on such an important matter, which needs proper consideration in this House. But following the Council meeting of Monday and the lack of consensus – or urgency – in reaching majority agreement on an organised and compassionate response to the refugee crisis here in the European Union, it is necessary that we respond and that people see the Parliament doing its job”, said the Chair of the Civil Liberties, Justice and Home Affairs Committee, Claude Moraes (S&D, UK) (see press release)Under the Commission proposal, additional 120,000 asylum seekers would be relocated from Italy (15,600), Greece (50,400) and Hungary (54,000). This number comes on top of the initial scheme to relocate 40,000 asylum seekers, approved by Parliament on 9 September and endorsed by the Justice and Home Affairs Council on 14 September The total number of people to be relocated is thus 160,000.
Parliament backed the Commission’s proposal (without amending it) by 370 votes to 134, with 52 abstentions. It then approved a legislative resolution by 372 votes to 124, with 54 abstentions, informing the Council that this approval is without prejudice to the position it will subsequently take on the proposal establishing a permanent crisis relocation mechanism, on which Parliament will co-decide on an equal footing with the member states. In the plenary debate on Wednesday, Luxembourg’s Minister for Immigration and Asylum, Jean Asselborn, speaking on behalf of the Council’s presidency, informed Parliament that “there will be an important change to the initial proposal: Hungary does not consider itself to be a frontline country and it does not want to benefit from the relocation scheme. The European Parliament needs to take this into account when giving its opinion”, he said.

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