Global Scans · Government · Weekly Summary

• National governments and EU policy makers are also coming under pressure from energy-intensive industries worried that high energy prices at home and subsidies handed out abroad will undermine the transition in Europe. Energy Connects
• Climate policies are about to affect a range of new sectors and the next two years will be of key importance for the credibility of EU green overhaul. Energy Connects
• The Bank of England needs to see more evidence that inflation will fall to 2 pc and stay there before the Monetary Policy Committee would consider cutting rates from their 16-year highs. The Telegraph
• Analysts have argued that the Bank of England is as cautious as the Federal Reserve about a quick easing of its monetary policy, adding that they expect sterling to consolidate around $1.25. The Telegraph
• The Minerals Council of Australia (MCA) has submitted a 2024-25 pre-budget submission to the Federal Government, calling for further investment in the mining industry. Australian Mining
• UK government will not rush to legislate, or risk implementing 'quick-fix' rules that would soon become outdated or ineffective. TechFinancials
• The UK government needs to rebalance its position on artificial intelligence (AI) to consider the opportunities it offers. Silicon UK
• Reserve Bank of India's Interest Rate Decision: The RBI's interest rate decision will be a focal point for investors, with expectations of monetary policy adjustments to support economic recovery and manage inflationary pressures. Analytics Insight
• While myriad factors such as high energy prices, inflation and interest rates, charging anxiety and mixed messaging from government have restricted demand, 100,000 more BEVs will still reach the road in 2024 compared with last year, totalling some 414,000 units - more than one in five new cars. SMMT
• Suppliers of electric vehicles are the big winners from the Albanese government's fuel efficiency standards with one industry group saying half of all new cars will be electric by 2029 and 100% by 2035 on the proposed trajectory. The Guardian
• To address the associated energy costs, the Singapore Government launched the world's first standard for optimising energy efficiency for data centers in tropical climates, which will result in data centers gradually increasing their running temperatures from 22 °C to 26 °C and above. The Royal Society of Victoria
• The Electric Vehicle (EV) industry has hit full speed, with the UK government pledging that all new cars will be zero emission by 2035. SweetCrudeReports
• Given the potential future of zero emission propulsion, government has convened an industry taskforce to maximise investment opportunities for the UK UK manufacturing of hydrogen propulsion systems. GOV.UK
• Even though BMI expects policy rate cuts from central banks in 2024 amid easing inflation, borrowing costs may not reach their pre-pandemic lows and households may need to adjust to high interest rates. BusinessWorld
• As governments and businesses worldwide prioritise renewable energy, the demand for solar power solutions is expected to skyrocket. IPS Inter Press Service Business
• Regulatory perspective: The Ethiopian Banking Authority Corporate governance principles for Ethiopian Banks state that an effective risk governance framework requires robust communication about risk issues, including the Ethiopian bank's risk strategy. FinExtra
• The Government of India actively promotes various forms of renewable energy to achieve the goal of 50% cumulative electric power installed capacity from non-fossil fuel-based energy resources by 2030. SolarQuarter
• Economic policies that foster and sustain growth, facilitate inclusive development, and contribute to the generation of resources to power investments will be adopted towards making India a developed country by 2047. Daily Pioneer
• The broad consensus is that the Bank of England will leave rates on hold at 5.25 pc for the fourth consecutive time, but we do expect things to get interesting in the accompanying communication regarding the outlook for monetary policy. The Telegraph
• Government of India will provide 3% interest subvention for 8 years including two years of moratorium for loan up to 90% from the scheduled bank and National Cooperative Development Corporation, NABARD and NDDB. Optimize IAS
• Chinese investment in UK nuclear projects has been a hot political potato for some time, and came to be viewed as an unacceptable national security risk. CounterPunch.org
• Atrocity-warning protocols should take account of the Chinese government's policies, including the risk-factor lists developed by the U.S. The Diplomat

Last updated: 07 February 2024