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Europe’s central bank is set to halt rate hikes as the Mideast war casts a shadow over the economy

Published Wed, 25 Dec 2024 05:07:06 GMT

FRANKFURT, Germany (AP) — The European Central Bank is ready to leave interest rates unchanged Thursday for the first time in over a year as the Israel-Hamas war spreads even more gloom over already downbeat prospects for Europe’s economy.It would be the bank’s first meeting with no change after a torrid pace of 10 straight increases dating to July 2022 that pushed its key rate to a record-high 4%. The ECB would join the U.S. Federal Reserve, Bank of England and others in holding borrowing costs steady — albeit at the highest levels in years — as inflation has eased.In Europe, inflation peaked at a painful 10.6% in October for the 20 countries that use the euro currency as Russia’s war in Ukraine took a toll. Those high prices have been poison for consumer spending, draining household finances with added costs for necessities such as food, heat and electricity. But with inflation now down to 4.3%, analysts expect the ECB to hold off on more hikes during its meeting...

At least 16 dead in Maine mass killing and police hunt for the shooter as residents take shelter

Published Wed, 25 Dec 2024 05:07:06 GMT

LEWISTON, Maine (AP) — A man shot and killed at least 16 people at a restaurant and a bowling alley in Lewiston, Maine, on Wednesday and then fled into the night, sparking a massive search by hundreds of officers while frightened residents stayed locked in their homes.A police bulletin identified Robert Card, 40, as a person of interest in the attack that sent panicked bowlers scrambling behind pins when shots rang out around 7 p.m. Card was described as a firearms instructor believed to be in the Army Reserve and assigned to a training facility in Saco, Maine.The document, circulated to law enforcement officials, said Card had been committed to a mental health facility for two weeks in the summer of 2023. It did not provide details about his treatment or condition but said Card had reported “hearing voices and threats to shoot up” the military base. A telephone number listed for Card in public records was not in service.Lewiston Police said in an earlier Facebook post that they wer...

Delivering today and preparing for tomorrow: The 2024 Commission Work Programme

Published Wed, 25 Dec 2024 05:07:06 GMT

The Commission has adopted its 2024 Work Programme, which puts a strong focus on simplifying rules for citizens and businesses across the European Union. This follows up on President von der Leyen's commitment to reduce reporting requirements by 25%, in line with our strategy to boost the EU's long-term competitiveness and to provide relief for SMEs.The Work Programme reflects on the achievements of the past four years, outlines the Commission's new proposals for the months ahead and presents significant initiatives aimed at cutting red tape. Some of these simplifying initiatives have already been put forward (15 proposals and initiatives since March 2023), while others are presented in parallel today (26 rationalisation proposals) or will follow. They are laid out in a dedicated annex together with the evaluations and fitness checks announced today.With over 90% of the commitments made in the 2019 Political Guidelines delivered and just a few months left until the 2024 European ele...

Azerbaijan’s path to full sovereignty

Published Wed, 25 Dec 2024 05:07:06 GMT

This year on October 18, the Republic of Azerbaijan celebrated the day of restoration of independence. This year’s celebration day is special as the country restored its territorial integrity and sovereignty. Azerbaijan’s path to this important day was tragic and difficult as the country faced multidimensional and cross-border threats and security challenges in the region. As a result of Armenian aggression against Azerbaijan, twenty percent of Azerbaijan's internationally recognized territories had been occupied, and the whole critic infrastructure in the occupied territories was devastated or destroyed - writes Shahmar Hajiyev, Senior Advisor, Center of Analysis of International RelationsA ceasefire agreement between Armenia and Azerbaijan was signed on May 1994 to halt the bloody conflict. However, serious intermittent skirmishes had been continuing since the signing of the ceasefire agreement. To this end, the former “Karabakh conflict” between two South Caucasus countries show...

Empowering the Winds of Change: Türkiye's Role in the EU's Energy Transition

Published Wed, 25 Dec 2024 05:07:06 GMT

The European Union is facing a unique opportunity in a world increasingly defined by geopolitical tensions, economic turbulences and the urgency of addressing climate change. The demand for renewable energy, particularly wind energy, has surged due to various factors, including global supply chain disruptions and the EU's quest for energy security. As we witness these uncertain times, it is important to recognize the significant impact that Türkiye's wind industry can have on promoting regional energy stability and sustainability - writes İbrahim Erden, Chairman of the Turkish Wind Energy Association (TWEA).The European continent, along with the rest of the world, has faced challenges related to disruptions in supply chains originating from the Far East during the coronavirus pandemic. Such global trade route disturbances have highlighted the vulnerabilities of supply chains in modern economies. The post-pandemic surge in energy prices has encouraged the EU to explore alternative an...

State of the Nation on Austrian National Day

Published Wed, 25 Dec 2024 05:07:06 GMT

What makes a nation great? Its leaders? It’s not always the case. How about its citizens and their struggles?In the heart of Vienna, a single mother of four recently made waves as she spoke out against Austrian Chancellor Karl Nehammer amid the so-called Burger-gate scandal. Criticizing the Chancellor's recent statement that low-income parents should buy their children McDonald's burgers, Anna Schiff’s  words resonated with countless parents nationwide by highlighting the difficult demands of being a full-time mother in a society where childcare support is scarce.Michael Landau, the President of CARITAS Europe, noted in The Telegraph that "In Austria, no one should go hungry or freeze in the winter, as we've hit the birthplace lottery. But anyone who says that no one in Austria goes hungry or freezes to death has no idea about the reality of the people", hinting at the remarks made by the Chancellor.The latest scandal highlights that there is a significant disconnect between the nat...

Bangladesh PM says new partnership with the EU will be based on shared values

Published Wed, 25 Dec 2024 05:07:06 GMT

In a speech to the European Union’s Global Gateway Forum in Brussels, the Prime Minister of Bangladesh, Sheikh Hasina, has described the EU as her country’s trusted trade, development, and humanitarian partner. She spoke of fruitful cooperation in security, climate change, and human mobility and of how shared values and commitments remain at the heart of EU-Bangladesh relations, writes Political Editor Nick Powell.On the fiftieth anniversary of Bangladesh-EU relations, her speech to the Global Gateway Forum gave Sheikh Hasina the opportunity to reaffirm her government’s commitment to further strengthen strategic engagement. Her visit to Brussels also marked the official launch of negotiations on a new partnership and cooperation agreement, as well as the signing of a landmark contract with the European Investment Bank for a €350 million loan to finance the development of renewable energy in Bangladesh.The Prime Minister reminded the forum that Bangladesh is now t...

Blow for Sunak’s AI summit as leaked document shows UK scaling back research plans

Published Wed, 25 Dec 2024 05:07:06 GMT

LONDON — Prime Minister Rishi Sunak’s hopes of securing international agreement for a new scientific body focused on risks from the most powerful AI systems have been dealt a blow, according to a final summit communiqué obtained by POLITICO.While nations participating in the United Kingdom’s AI safety summit will agree that frontier AI could cause “serious, even catastrophic, harm,” they are expected to signal that further scientific study of the issue could be carried out through existing efforts, including the United Nations and Global Partnership on AI.That change will be seen as a setback to the U.K. government, which had hoped to establish a new global AI research body at its flagship AI Safety Summit on November 1 and 2.The document, dated October 25, was presented by the General Secretariat of the European Council to EU member states. It is described as the “final version of the communiqué.” A schedule seen by POLITICO stated that Wednesday October 25 was the final deadline f...

Flash flood risk into Thursday

Published Wed, 25 Dec 2024 05:07:06 GMT

AUSTIN (KXAN) -- While many of us stay dry, we're continuing to watch an area of heavy rain moving through the Hill Country.That widespread rain will slowly move eastward bringing a level 3 out of 4 flash flooding risk to the Hill Country and northwest Austin Metro overnight and into early Thursday. If you're driving overnight, be extra careful and "turn around, don't drown" if you encounter a flooded road. While 1-3 inches of rain will be widespread west of I-35 Wednesday night, localized 4-6"+ rainfall amounts could cause problems.Flash Flood Threat tonight (WPC)NEW: The National Weather Service has expanded the timing and area of the Flood Watch to include ALL of the Austin Metro Counties. The Flood Watch now continues into early Thursday afternoon.Flood Watch until 1 p.m. ThursdayThe rain will continue its eastward movement and approach I-35 during the Thursday morning commute before moving into our eastern counties by late morning. Live, updated rain totals During the day on ...

Daily horoscope for October 26, 2023

Published Wed, 25 Dec 2024 05:07:06 GMT

Moon Alert: After 6:15 a.m. EDT today (3:15 a.m. PDT), there are no restrictions to shopping or important decisions. The Moon is in Aries.Happy Birthday for Thursday, Oct. 26, 2023:You are ambitious, hard-working and tenacious. You are also well-organized and like to make plans. This is a year of learning and teaching for you. Take time for introspection or meditation. Reflect on spiritual or religious beliefs. Discover what your real values are.ARIES(March 21-April 19) ★★★★Today the Moon is in your sign, which boosts your energy and also makes you more emotional than usual, especially if you’re reacting to things that other people do or say. But also, when the Moon is in your sign (as it is for two and a half days every month), your luck improves! Tonight: You’re in charge.TAURUS(April 20-May 20) ★★★Today you’re happy to be low-key and do things alone or behind the scenes. You’re not interested in calling attention to yourself. Having said that, Venus is in ...