Photo : The Washington Post
Photo : The Washington Post
By Padmashree Anandhan
GREECE
Sand clouds spread across Athens trigger warning
On 24 April, the BBC reported on spread of an orange haze over Athens due movement of clouds containing dust from Sahara desert. It is observed one of the worst scenarios since 2018 for Greece and has been witnessing similar events in late March and early April. According to the weather service, the skies are expected to clear soon but the air quality was deteriorated in many parts of Greece. The citizens were asked to limit spending their time outdoors and mandated to wear masks and avoid physical exercise until the dust is cleared. Every year, the Sahara released 60 to 200 million tonnes of mineral dust and most of it can descend faster via small particles reaching farther areas. (“Greece: Orange Sahara dust haze descends over Athens,” BBC, 24 April 2024)
RUSSIA
Deputy Defence Minister detained on bribery charges
On 24 April, Deutsche Welle reported on the arrest of Russia’s Deputy Defence Minister Timur Ivanov under suspicion of bribery. The investigative committee confirmed on taking Ivanov into custody to carry out investigation and is predicted to have taken RUB one million as bribe. This means 15 years of prison if found guilty. Ivanov was posted a one of the deputy defence minister’s in 2016 and monitored property management, housing and medical support for military and construction facilities. He was said to be in charge of few construction projects in Ma riupol and has been subject to sanctions from the US and the EU in 2022. (“Russia: Top military official arrested for bribery,” Deutsche Welle, 23 April 2024)
THE UK
Ireland government projects a budget surplus
On 24 April, the BBC reported on Irish government statement on its expectation for a budget surplus of more than EUR eight billion in 2024. This equals three per cent of the national income and will be a continuous third year for the government to have acquired more in tax than spending. Ireland is currently placed in an unusual position to “run surpluses” as it began processing its sovereign wealth fund through windfall tax. The objective to launch a fund with assets worth EUR 100 billion by mid of 2030s. According to Michael McGrath, Irish Finance Minister: “I would caution that this surplus is heavily dependent on volatile 'windfall' corporate tax receipts which have grown from €4bn to €24bn in the space of a decade.” (John Campbell, “Ireland forecasts budget surplus of more than €8bn,” BBC, 24 April 2024)
REGIONAL
EU approves new reform to control excess deficit among the member states
On 23 April, the EU approved a reform on its budgetary rules which governs the spending. The negotiation has continued for two years and the rules are yet to be recognised. Latest rules mandate a limit of 60 per cent of GDP which a state cannot exceed and it also rules the public deficit to be under three per cent. Those countries having debt above 90 per cent of GDP will be demanded to decrease by one per cent every year and 0.5 per cent between 60 and 90 threshold. The new reform would make it challenging for the EU Commission to start procedures on countries with excess deficits. It will also allow member stated to ask for discussion with commission if it has excessive debt. Paolo Gentiloni, EU’s economy commissioner stated that the latest rules were more credible, growth oriented and flexible to implement. (“EU lawmakers approve overhaul of budget rules,” Deutsche Welle, 23 April 2024)
IEA predicts peak in EV sales in China and Europe
On 23 April, the International Energy Agency (IEA) reported on 2024 to become a record year for sale of electric vehicles (EV) with China on the lead. It estimated 17 million car sales to occur in 2024 compared to 14 million in 2023 and one in five cars sold at the global level is expected to be an EV. Fatih Birol, IEA Director said: “The wave of investment in battery manufacturing suggests the EV supply chain is advancing to meet automakers' ambitious plans for expansion.” In China the sale is expected to hit 45 per cent and 25 per cent in Europe and 11 per cent in the US. It also expects a six-fold expansion of charging networks by 2035. (“Electric cars sales expected to rise to new record in 2024,” Deutsche Welle, 23 April 2024)
TitTok submit report for mental health risk assessment
On 23 April, TikTok company submitted its risk assessment report to the European Commission within the 24-hour deadline. The same was confirmed by the Commission spokesperson and the assessment of the report will begin for deciding on future steps. This will involve investigation of addictiveness and mental health risks over the reward scheme offered by the company for children. Thierry Brenton, European Commission said: “With an endless stream of short and fast-paced videos, TikTok offers fun and a sense of connection beyond your immediate circle.” In a statement, the company stated that its rewards scheme was not provided for minors and imposes a daily limit on the videos that can be viewed to avail the reward. (“TikTok meets EU deadline over reward-to-watch feature,” Deutsche Welle, 23 April 2024)
INTERNATIONAL
European Commission to investigation Chinese medial device procurement
On 23 April, the European Commission announced launch of an investigation into Chinese “public procurement of medical devices.” The move comes as concern grew over China’s priority over local suppliers under “Buy China” policy. Similarly, the Commission also opened an investigation on two Chinese solar panel manufacturers under suspicion of being recipient of subsidies from Beijing. According to EU official journal, China was observed to be imposing conditions “…leading to abnormally low bids that cannot be sustained by profit-oriented companies.” Such measures had imposed significant disadvantage on “economic operators.” In the investigation, if evidence of unfair treatment was found can result in limiting Chinese firms access to the “public procurement market.” (“EU launches probe into Chinese medical procurement,” Deutsche Welle, 24 April 2023)