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The euro emerged as the most widely used currency for the European Union’s imports of primary goods from outside the bloc in 2025, excluding petroleum products, according to newly released data from Eurostat. The report showed that the single European currency accounted for 47.4 per cent of all extra-EU imports of primary commodities during the year, narrowly surpassing the US dollar, which held a 45.0 per cent share. Currencies belonging to EU member states that have not

Air travellers across Europe are likely to face higher ticket prices in the coming months as airlines struggle to cope with soaring jet fuel costs triggered by ongoing disruption in the Middle East, according to Willie Walsh, head of the International Air Transport Association. Although some European airlines have recently lowered fares in an attempt to encourage bookings amid weaker-than-expected demand, Walsh warned that carriers would not be able to absorb rising operati

European governments are once again facing mounting pressure to impose windfall taxes on oil and gas companies after the continent’s biggest energy firms posted soaring first-quarter profits driven by the Middle East conflict and the resulting spike in global energy prices. Major European energy companies benefited heavily from volatility in oil markets following disruptions linked to the war involving Iran. The instability sent crude prices sharply higher and created luc

The European Union is facing an increasingly intricate threat landscape as digital fraud converges with advanced money laundering techniques, creating new challenges for law enforcement and financial regulators. According to recent findings from the Internet Organised Crime Threat Assessment 2026, the growing professionalization of laundering services has made criminal networks more durable and harder to dismantle. These groups are now deploying automated systems that enable

The Central Bank of Cyprus (CBC) has indicated that deposit rates in Cyprus remain below those observed across the eurozone, even as lending rates present a more mixed picture across different categories. According to the CBC’s latest data, the average interest rate for new housing loans in Cyprus stood at 3.04 per cent in February, compared with a higher eurozone average of 3.41 per cent. For household deposits with a maturity of up to one year, the average rate reached 1.

The European Public Prosecutor’s Office (EPPO) in Venice, Italy, has obtained convictions against three individuals—two administrators and one employee of a consortium company—in connection with the misappropriation of European Union funds allocated for the development of Italy’s liquefied natural gas (LNG) network. The case centers on activities that took place between 2016 and 2021, during which the now-defunct consortium received €6,351,088.56 in EU funding. These funds we

The European Union Intellectual Property Office (EUIPO) has released a comprehensive report assessing the role of intellectual property as a mechanism for financing innovative enterprises across Europe, arguing that the region is significantly underutilising one of its most valuable economic assets. The study, titled intellectual property-backed financing in Europe, concludes that although the European Union remains strong in research capacity, innovation output, and entrepre

Inflation expectations across the eurozone could accelerate more rapidly than in previous periods, and the European Central Bank must be prepared to respond decisively with interest rate increases if sustained price pressures begin to take hold, policymaker Dimitar Radev has cautioned. The surge in energy prices driven by the ongoing Iran war has already pushed inflation well beyond the ECB’s 2 percent target, prompting internal debate over whether tighter monetary policy is

The European Commission has formally adopted the Work Programme for the 2026 and 2027 Euratom Research and Training Programme, marking a decisive step forward in Europe’s pursuit of advanced nuclear technologies. Designed to complement Horizon Europe, the programme covers an extensive range of nuclear research and innovation activities, with the overarching goals of strengthening the EU’s energy independence, boosting competitiveness, enhancing technological leadership, and a

The European Commission has unveiled its proposal for EU Inc., a new unified corporate framework intended to serve as the foundation for the EU’s 28th company law regime. The initiative introduces an optional, digital-by-default European corporate structure aimed at making it easier for businesses to start, operate, and expand across the EU. According to the Commission, the proposal is designed to encourage companies to remain in Europe while attracting businesses that might

The European Banking Authority (EBA) has released its second Impact Assessment Report on the minimum requirement for own funds and eligible liabilities (MREL), examining how the framework has affected banks across the European Union, as well as its influence on markets and funding structures. According to the findings, banks within the EU have continued to strengthen their MREL positions while also improving their access to financial markets, with minimal disruption to their

The euro area recorded a trade deficit of €1.9 billion in January 2026, according to data from Eurostat, while Cyprus posted a notably improved trade balance over the same period. The deficit for the euro area widened from €1.40 billion in January 2025, reflecting shifts in trade dynamics across key sectors. Exports fell to €215.30 billion in January 2026, down 7.6 percent from €232.90 billion a year earlier, while imports also declined to €217.20 billion, a drop of 7.3 perce

The European Banking Authority has released its final report on draft implementing technical standards for the supervisory reporting of third-country branches under the Capital Requirements Directive VI. The authority said the new reporting package is designed to provide supervisors with high-quality information while ensuring proportionality, clarity, and operational feasibility for reporting institutions. The framework introduces uniform reporting formats, harmonized defini

The Austrian Financial Market Authority has levied a fine of 127,500 EUR against NOTARTREUHANDBANK AG after uncovering substantial shortcomings in the institution’s compliance with anti-money laundering and counter-terrorist financing obligations. The enforcement action follows findings that the bank failed to implement sufficient strategies and internal controls to mitigate the risks of illicit financial activity. According to regulators, the institution did not adequately m

The European Securities and Markets Authority (ESMA) has issued its first risk monitoring report of 2026, cautioning that European Union financial markets remain exposed to high levels of systemic stress and potential price swings, despite resilient market performance in the latter half of 2025. The report underlined that strong recent market returns have not eliminated underlying structural vulnerabilities across the EU’s financial system. ESMA noted that its risk assessment

Several committees within the European Parliament have approved proposals aimed at creating a new classification for companies known as small mid-cap enterprises, a move designed to expand regulatory exemptions and support firms that have outgrown traditional small and medium enterprise (SME) status. Lawmakers say the initiative is intended to stimulate business growth across the European Union by addressing regulatory hurdles faced by companies transitioning to larger oper

Investment across the European Union weakened in 2024, with fresh data showing a broad-based cooling in capital spending as economic momentum slowed. According to figures published by Eurostat, gross fixed capital formation in the EU fell by 1.9 per cent compared with 2023. The measure is a central pillar of gross domestic product, tracking how much businesses and governments invest in fixed assets such as infrastructure, buildings, machinery, equipment, and research and de

As of February 20, 2026, travelers requiring a French visa are now obligated to secure their appointments exclusively through an online system, with walk-ins and informal booking channels officially discontinued. The reform applies globally and covers both short-stay Schengen visas and long-stay national visas. The shift is aimed squarely at long-standing frustrations within the visa application process, including overcrowded service counters, extended queues, and the prolife

The Cyprus Chamber of Commerce and Industry (Keve) has underlined the substantial export potential arising from the newly concluded free trade agreement between the European Union and India, noting that the arrangement is expected to open important new pathways for European exporters, including businesses in Cyprus. According to the chamber, the agreement, finalised in January 2026 and anticipated to take effect in the coming years, will make India’s vast market of around 1

The Dutch gambling authority, Kansspelautoriteit (KSA), has issued a penalty order against Polymarket, instructing the cryptocurrency-based prediction platform to halt its operations in the Netherlands or face fines that could reach as much as €840,000 ($994,147). The regulator determined that the platform had violated national regulations by making its services available to Dutch users without the required gambling licence. According to the KSA, the company responsible f