Category Archives: Economy

Economy Press Releases & News distributed via EuropaWire

BBVA and KKR Partner to Invest $200 Million in Global Climate Projects, Driving Low-Carbon Infrastructure

(IN BRIEF) BBVA has formed a strategic partnership with investment firm KKR, committing $200 million to support KKR’s Global Climate Strategy, which focuses on large-scale climate infrastructure projects like energy transition and electrification. The partnership, announced during Climate Week in … Read the full press release

Wolters Kluwer Unveils CCH iFirm Validate: Revolutionizing Audits with Blockchain-Powered Validation

(IN BRIEF) Wolters Kluwer has launched CCH iFirm Validate, a new cloud-based module designed to enhance audit processes by using blockchain technology for secure and efficient bank confirmations and account verifications. This tool simplifies traditionally manual tasks, allowing auditors to … Read the full press release

Santander X Expands to Offer Free Training and Discounts for SMEs and Entrepreneurs

(IN BRIEF) Santander has expanded its Santander X platform for SMEs, startups, and entrepreneurs, offering free training and discounts on essential business services. The initiative aims to support companies in adapting to the challenges of the digital market. Registration is … Read the full press release

Prudential Strengthens Nigerian Market Position with Full Acquisition of Zenith Life

(IN BRIEF) Prudential plc is acquiring full ownership of Prudential Zenith Life Insurance in Nigeria, enhancing its position in the country and strengthening its bancassurance partnership with Zenith Bank. This move supports Prudential’s strategy to grow its presence in high-potential … Read the full press release

Prudential Partners with Bank Syariah Indonesia to Boost Syariah Insurance Growth in Key ASEAN Market

(IN BRIEF) Prudential has entered into a strategic partnership with Bank Syariah Indonesia (BSI), enabling the company to offer Syariah-compliant life insurance through BSI’s extensive network starting in 2025. This collaboration is seen as a key step for Prudential to … Read the full press release

NIB Invests €10 Million in Spar Nord Bank’s Green MREL-Eligible Bond to Boost Danish SME Financing

(IN BRIEF) The Nordic Investment Bank (NIB) has invested €10 million in a €250 million, 6-year Green MREL-eligible bond issued by Denmark’s Spar Nord Bank. This bond helps the bank meet EU regulatory requirements for loss absorption and capital recovery … Read the full press release

FTSE Russell Introduces Fixed Income Climate Indices to Boost Sustainable Investments

(IN BRIEF) FTSE Russell has launched two new fixed income indices, the FTSE Fixed Income TPI Climate Transition Index Series and the FTSE Fixed Income TPI Focused Glidepath Index Series. These indices aim to support investors in meeting their climate … Read the full press release

EU-Backed Partnership Unlocks Millions in Loans for Danish Creative and Cultural Sectors

(IN BRIEF) A new partnership between the European Investment Fund (EIF) and the Export and Investment Fund of Denmark (EIFO), backed by the EU’s InvestEU program, will provide DKK 300 million in loans to Danish businesses within the creative and … Read the full press release

GfK Report: Germany’s Consumer Confidence Sees Modest Rebound, But Economic Fears Persist

(IN BRIEF) Germany’s consumer sentiment showed a slight improvement in September 2024, according to the latest GfK report. After a significant drop the previous month, income expectations and willingness to buy have increased, resulting in a modest rise in the … Read the full press release

EIB Grants €220 Million to Nexi Group to Drive Digital Payment Innovation and Sustainability in Europe

(IN BRIEF) The EIB has granted €220 million to Nexi Group to support innovation in Europe’s digital payments sector. The funding will help drive the development of modernized payment solutions, job creation, and sustainability initiatives, reflecting Nexi’s commitment to ESG … Read the full press release

CBI Strengthens Board with Appointments of Ruth Cairnie and Lesley Ann Nash, Bringing Business and Government Expertise

(IN BRIEF) The CBI has appointed Ruth Cairnie and Lesley Ann Nash as Non-Executive Directors to its Board. Both bring extensive experience in private and public sectors, strengthening the CBI’s leadership as it continues its mission to represent UK businesses. … Read the full press release

European Investment Fund Supports Icelandic SMEs with Up to €100 Million in New Funding via Arion Bank

(IN BRIEF) The European Investment Fund (EIF) has partnered with Arion Bank to provide up to €100 million in new lending to around 40 small and medium-sized enterprises (SMEs) and Small Mid-Caps in Iceland. Backed by the European Commission’s InvestEU … Read the full press release

Lille Secures €276 Million for Sustainable Transport Revolution: EIB and European Commission Fund Green Mobility Initiative

(IN BRIEF) The Métropole Européenne de Lille has secured a €245 million green loan from the European Investment Bank (EIB) to modernize its urban transport system, alongside a €31.5 million grant from the European Commission. This joint financing will support … Read the full press release

Schroders Solutions Chosen by Merseyside Pension Fund for £3.8 Billion Equity Protection Initiative

(IN BRIEF) Schroders Solutions has been selected to implement a £3.8 billion equity protection strategy for the Merseyside Pension Fund. This collaboration, part of the Northern LGPS framework, aims to safeguard the fund’s equity portfolios from market downturns ahead of … Read the full press release

BNP Paribas Expands Wealth Management Footprint in Germany by Acquiring HSBC’s Private Banking Division

(IN BRIEF) BNP Paribas has signed an agreement to acquire HSBC’s private banking operations in Germany, aiming to enhance its wealth management services and increase its assets under management to over €40 billion. This strategic acquisition targets growth within the … Read the full press release

Ahold Delhaize Repurchased 250,000 Shares as Part of €1 Billion Buyback Program

(IN BRIEF) Ahold Delhaize has repurchased 250,000 common shares between September 16 and September 20, 2024, at an average price of €30.85, totaling €7.7 million. This buyback is part of a larger €1 billion program announced in November 2023. To … Read the full press release

Top African Venture Capital Leaders Recognized for Transforming Start-up Ecosystem at Oxford Programme

(IN BRIEF) At the Africa Venture Finance Programme hosted by Oxford University’s Saïd Business School, top African venture capital fund managers were recognized for their contributions to supporting start-ups across the continent. Awards were given to First Circle Capital, SpeedInvest, … Read the full press release

Lloyds Banking Group Enhances Accessibility with British Sign Language Support on Job Search Pages

(IN BRIEF) Lloyds Banking Group has become the first FTSE 100 company to implement Signly on its job search pages, a service providing British Sign Language (BSL) translations to enhance accessibility for d/Deaf users. This initiative reaffirms Lloyds’ commitment to … Read the full press release

BT Group Unveils £4 Million Apprenticeship Fund to Strengthen SME Workforce and Drive Economic Growth

(IN BRIEF) BT Group has launched a £4 million Apprenticeship Fund aimed at helping small and medium-sized enterprises (SMEs), charities, and public sector organizations in England. Over the next four years, the fund will support these entities by providing access … Read the full press release

UN and Multilateral Development Banks Unite to Boost Global Efforts for 2030 SDG Targets

(IN BRIEF) On September 23, 2024, UN Secretary-General António Guterres met with the heads of major Multilateral Development Banks (MDBs) to strengthen collaboration aimed at accelerating progress toward the 2030 Sustainable Development Goals (SDGs). The discussion centered on MDB reforms … Read the full press release

Garanti BBVA Introduces Türkiye’s First End-to-End Digital Vehicle Loans for Individuals

(IN BRIEF) Garanti BBVA has become the first Turkish bank to offer fully digital vehicle loans for individual customers, expanding a service previously available only to companies and self-employed clients. The entire loan application process, covering nearly 40 automobile brands, … Read the full press release

EIB Supports Deutsche Glasfaser with €350 Million Loan to Expand High-Speed Internet in Rural Germany

(IN BRIEF) The European Investment Bank (EIB) has granted a €350 million loan to Deutsche Glasfaser to expand fibre-optic broadband access to around 460,000 rural homes and businesses in Germany. This initiative, supported by the EU’s InvestEU programme, addresses the … Read the full press release

Multilateral Banks Boost Climate Finance to Record $125 Billion in 2023, Doubling Private Sector Mobilization

(IN BRIEF) Multilateral development banks (MDBs) have reached a new milestone in climate finance, committing a record $125 billion in 2023. A significant portion, $74.7 billion, was allocated to low- and middle-income countries, primarily for climate mitigation and adaptation. High-income … Read the full press release

European Investment Bank Unveils Global Health and Climate Initiatives at UN General Assembly

(IN BRIEF) At the 79th United Nations General Assembly, European Investment Bank (EIB) President Nadia Calviño will announce new initiatives focused on global health and climate finance. The EIB, in collaboration with partners like the Gates Foundation and WHO, will … Read the full press release

Key Changes to ATX Indices: Mayr-Melnhof and Wienerberger Join Global Players, AUSTRIACARD Boosts Family Index

(IN BRIEF) Mayr-Melnhof Karton AG and Wienerberger AG will join the ATX Global Players index, replacing BAWAG Group AG after a turnover review. The ATX Global Players index consists of companies generating over 20% of revenue outside Europe, currently featuring … Read the full press release

GT Talent Group Raises €1.5 Million in IPO, Debuts on Euronext Growth Milan with €5.2 Million Market Cap

(IN BRIEF) GT Talent Group, a sports entertainment company specializing in supercar driving experiences and motorsport talent shows, has successfully listed on Euronext Growth Milan. This marks the 16th listing on the Milan market and the 36th on Euronext this … Read the full press release

Commerzbank and Crypto Finance Partner to Provide Secure Crypto Asset Services for Corporate Clients in Germany

(IN BRIEF) Commerzbank has partnered with Crypto Finance, a subsidiary of Deutsche Börse, to offer secure access to digital assets, specifically bitcoin and ether, for its corporate clients in Germany. Commerzbank will handle crypto asset custody, while Crypto Finance manages … Read the full press release

Ukrainian Innovators Thrive with Green Solutions Amidst War, Supported by EBRD and EU

(IN BRIEF) Ukrainian companies are leading green innovation despite the challenges of war, with support from the EBRD, EU, and Greencubator through the Climate Innovation Vouchers programme. Pipes.one has developed a mobile factory that reduces emissions and costs by producing … Read the full press release

ING Accelerates Climate Action with Focus on Client Engagement and Sustainable Financing

ING Repurchases Nearly 1.7 Million Shares, Demonstrating Progress in Buyback Initiative

(IN BRIEF) ING’s 2024 Climate Progress Update outlines the bank’s enhanced efforts to help clients transition to a low-carbon economy. The report highlights ING’s Terra approach, which focuses on guiding carbon-intensive sectors toward climate goals. ING assessed the sustainability disclosures … Read the full press release

Barclays Cuts Interest Rates on Green Loans to Help UK Farmers Transition to Net Zero

(IN BRIEF) Barclays has reduced interest rates on four of its Green Loans for Business to support UK agriculture and SMEs in their efforts to reduce emissions and enhance biodiversity. This move is part of Barclays’ commitment to financing the … Read the full press release

HSBC Deploys Quantum-Secure Technology to Protect Tokenised Gold from Future Cyber Threats

(IN BRIEF) HSBC has successfully piloted quantum-secure technology to protect tokenised physical gold from future cyber threats posed by quantum computing. The bank partnered with Quantinuum to use post-quantum cryptography (PQC) and Quantum Origin technology, safeguarding HSBC’s gold tokens against … Read the full press release

Deutsche Bank Taps Raffael Gasser to Lead Wealth Management & Private Banking in Germany

(IN BRIEF) Deutsche Bank has appointed Raffael Gasser as the new Head of Wealth Management & Private Banking in Germany, starting November 1, 2024. Gasser, who brings extensive experience from UBS and Credit Suisse, will oversee services for affluent and … Read the full press release

UniCredit Bank Austria Launches Emergency Flood Aid Package for Immediate Financial Relief

(IN BRIEF) In response to the severe flooding in Austria, UniCredit Bank Austria has introduced an emergency aid package to support affected individuals and businesses. The package offers fast, unbureaucratic financing with up to €50,000 in overdraft facilities at a … Read the full press release

EIB and SGEF Poland Join Forces with €200 Million Financing for SMEs and Climate Action

(IN BRIEF) The European Investment Bank (EIB) is providing €100 million to SG Equipment Leasing Polska (SGEF Poland) to support Polish SMEs, with SGEF Poland expected to generate €200 million in total financing. At least 20% of the funds will … Read the full press release

Mark Davis Appointed New Managing Director of EBRD’s Southern and Eastern Mediterranean Region

(IN BRIEF) The European Bank for Reconstruction and Development (EBRD) has appointed Mark Davis as the new Managing Director for the Southern and Eastern Mediterranean (SEMED) region, starting October 1, 2024. Davis, who has 28 years of experience in international … Read the full press release

EIB Approves €5.3 Billion for Climate Resilience, Urban Innovation, and Business Growth

(IN BRIEF) The European Investment Bank (EIB) has approved €5.3 billion in new funding to enhance climate resilience, urban development, and business innovation across Europe and beyond. The investments include €3.5 billion for smart city projects and sustainable infrastructure, €1.4 … Read the full press release

EIB and BNZ Join Forces to Expand Solar Energy in Southern Europe with €166 Million Green Loan

(IN BRIEF) The European Investment Bank (EIB) and BNZ have signed a €166 million loan to support the construction of 17 new solar photovoltaic plants in Spain, Italy, and Portugal, as part of a larger €500 million initiative. These plants … Read the full press release

Å Energi Secures NOK 1 Billion Loan from NIB for Power Grid Expansion in Southern Norway

(IN BRIEF) Å Energi has partnered with the Nordic Investment Bank (NIB) to secure a NOK 1 billion loan aimed at upgrading and expanding the electricity grid in Southern Norway’s Agder and Buskerud counties. The 10-year loan will finance 22 … Read the full press release

ING Repurchases 3,282,664 Shares in Ongoing €2.5 Billion Buyback Program

ING Repurchases Nearly 1.7 Million Shares, Demonstrating Progress in Buyback Initiative

(IN BRIEF) ING has repurchased 3.28 million shares between September 9 and 13, 2024, as part of its €2.5 billion share buyback programme, at an average price of €16.20 per share, totaling €53.17 million. To date, ING has repurchased 134.31 … Read the full press release

Euronext Acquires Substantive Research to Enhance Market Data and Research Benchmarking Services

(IN BRIEF) Euronext has acquired Substantive Research, a leading provider of market data and investment research benchmarking services, to strengthen its investor services. Substantive Research, serving over 100 global clients, will be integrated with Euronext’s subsidiary Commcise, offering enhanced market … Read the full press release