Author Archives: brusselsdiplomatic

Allseeds: An example of safety and quality

Operating a highly modern and technologically advanced Оil extraction plant and Vegetable oil terminal, Allseeds Group has got the capacity to produce and supply sunflower oil of the highest quality to the world market.

On February 26, 2017, Allseeds sent a vessel Wine Trader carrying 5900 Mt of sunflower oil from Yuzhny port to Italy. It was unloaded at the destination port on March 7-9. The supply operation, until the very unloading in the port of Ravenna, was, as usual, under control of the surveyors NofaLab and Dr.Buschmeyer.

The cargo quality was examined to ensure adherence to the EU and Codex Alimentarius 210 standards, including in the content of mineral oils, pesticides, heavy metals, sterols, fatty acids and benzopyrene.

Quality certificates issued by European inspection services confirm the highest quality of the sunflower oil and its adherence to all EU standards, including in cholesterol content (at less than 0.1%, while the norm is 0.5%).

It is impressive how this sunflower oil shipment to the European Union, one of the many by Allseeds Group, was carried out right at the moment when the hysterical campaign on sunflower oil allegedly adulterated by ‘chicken fat’ was unleashed in the Ukrainian media.

EU-Switzerland: one step closer the Emissions Trading Systems

 “After much hard work on both sides, I am proud of the progress we have made with our Swiss colleagues. As the world’s largest cap and trade system, we have always aimed to promote the growth of the international carbon market.” Said climate Action and Energy Commissioner Miguel Arias Cañete.

The EU has  moved one step closer to linking its Emissions Trading System (EU ETS) for the first time. The Commission adopted two proposals to finalise an agreement with Switzerland on linking the EU ETS with the Swiss emissions trading system. Linking the European system with other systems expands opportunities for emissions reductions and reduces costs. Once the agreement with Switzerland takes effect, participants in the EU ETS will be able to use units from the Swiss system for compliance, and vice versa.  Negotiations between the Commission and Switzerland opened in 2010. A linking agreement was initialled in January 2016 but the signature and conclusion of the agreement were put on hold following the Swiss referendum. Following high-level contacts and a change in Swiss legislation, a meeting between Commission President Jean-Claude Juncker and Swiss President Doris Leuthard in April (see press conference and SPEECH/17/897) opened the path for today’s decisions.

The Commission’s proposal for the signature of the agreement and a proposal for its conclusion (ratification) will now be discussed by the Council of Ministers of the European Union. The Council will require the consent of the European Parliament in order to conclude the agreement. Subject to final conclusion, the agreement could be signed before the end of the year. The entry into force would take place at the start of the year that follows ratification by both sides. The EU ETS is a key tool to tackle climate change with a view to reducing greenhouse gas emissions. It is the world’s first major carbon market and its biggest one. In October 2014, the European Council agreed on the 2030 climate and energy policy framework for the EU setting an ambitious economy-wide domestic target of at least 40% greenhouse gas emission reduction for 2030.

Eurostat: Industrial production down by 0.6% in euro area

In June 2017 compared with May 2017, seasonally adjusted industrial production fell by 0.6% in the euro area
(EA19) and by 0.5% in the EU28, according to estimates from Eurostat, the statistical office of the European
Union. In May 2017, industrial production rose by 1.2% in both zones.
In June 2017 compared with June 2016, industrial production increased by 2.6% in the euro area and by 2.9% in
the EU28.

Monthly comparison by main industrial grouping and by Member State

The decrease of 0.6% in industrial production in the euro area in June 2017, compared with May 2017, is due to
production of capital goods falling by 1.9%, durable consumer goods by 1.2%, non-durable consumer goods by
0.4% and intermediate goods by 0.3%, while production of energy rose by 1.8%
In the EU28, the decrease of 0.5% is due to production of capital goods falling by 1.5%, durable consumer goods
by 0.8%, intermediate goods by 0.4% and non-durable consumer goods by 0.3%, while production of energy rose
by 1.4%. Among Member States for which data are available, the largest decreases in industrial production were registered in Ireland (-7.5%), the Czech Republic (-3.8%) and Malta (-3.2%), and the highest increases in Luxembourg (+3.4%), Estonia, Croatia and the Netherlands (all +1.2%).

Annual comparison by main industrial grouping and by Member State

The increase of 2.6% in industrial production in the euro area in June 2017, compared with June 2016, is due to
production of energy rising by 5.1%, durable consumer goods by 4.0%, intermediate goods by 3.8%, capital goods
by 1.6% and non-durable consumer goods by 0.6%.
In the EU28, the increase of 2.9% is due to production of durable consumer goods rising by 4.2%, intermediate
goods by 3.9%, energy by 3.7%, capital goods by 2.4% and non-durable consumer goods by 1.5%.
Among Member States for which data are available, the highest increases in industrial production were registered
in Estonia (+14.5%).

ALLseeds develops Black sea port Yuzhny

The Group Allseeds started to implement the second stage of its global development in Yuzhny port, the construction of a multifunctional soybean crushing plant, with a daily production capacity of 5,000 tons. This plant will be unique in capacity among the European oil extraction plants.

According to the estimates of the company, the plant’s construction and the upgrade of the infrastructure necessary for the plant’s operation will take about three years.

Launching such a plant will require the company to increase its reception and shipping by about 1,7 million tons of raw materials and processed goods – soybean meal and oil.  The development the plant will include additional funds for the infrastructure capacity increase in Yuzhny port – a complex that includes elevators, tanks and railway facilities.

Scaling up the production will allow Allseeds to realize consequent synergies and to raise the company’s efficiency through significant savings on the fixed costs.

As a result, this development will allow the company to remain competitive.

Allseeds will become the No.2 company in the oilseeds market of Ukraine with a total crash capacity of  2.5 million tons per year. The amount of investments of Allseeds in Ukraine will reach $ 500 million.

“Major engineering companies of the world’s oil extraction industry –  such as Andreotti Impianti, Europa Crown, Desmet Ballestra, Jiangsu Muyang and others – are taking part in the tender for the supply of the equipment and technology for this new plant,” indicates Viacheslav Petryshche, head of Allseeds Board.

EU: new rules for insurance products

The Commission has laid down rules for an Insurance Product Information Document (IPID), which will have to accompany all non-life insurance policies from 2018. These new rules will allow consumers to have all information necessary to make an informed decision when buying insurance products, such as car, travel or house insurance.

This type of key information document already exists for life insurance policy and other investment products under the Regulation on Key Information Documents for Packaged Retail and Insurance-based Investment Products (PRIIPs). The implementing rules adopted today, in the form of an implementing technical standard (ITS), stem from the Insurance Distribution Directive (IDD) which must be applied in the EU Member States in February 2018.The IDD aims to create a level playing field between insurance distributors across the European Union. It will guarantee that customers get the same standards of choice and service when buying insurance, regardless of the Member State in which the insurance was bought. The Directive will ensure appropriate standards of transparency by setting out the necessary information to be provided to consumers before they sign up to an insurance contract. Further implementing rules for the IDD will be adopted in the coming weeks. These will coverproduct oversight and governance (for all insurance products) and various conduct of business rules(for life insurance products).

EIB, €35 million to support brain cancer treatment

Patients who suffer from the most aggressive type of brain cancer, glioblastoma, will soon have broader access to a new form of treatment thanks to financing by the European Investment Bank (EIB).

“More than 20 million people worldwide are expected to live with cancer in the year 2030 – a 50% increase from the levels of 2012,” said Ambroise Fayolle, Vice-President of the EIB and responsible for operations in Germany. “The therapy developed by MagForce has the potential to considerably ease the burden for some of those patients, and I am proud that EIB backing will actually help save people’s lives. The EU bank provides long-term and stable capital support to the company’s R&D which will enable MagForce to accelerate the market launch of new treatments. It’s this type of support for innovative companies that is crucial to strengthening Europe’s competitiveness.”

The EIB and German medical device company MagForce signed a financing agreement which will allow the company to borrow up to €35 million over the coming three years, subject to achieving a set of agreed performance criteria.

The transaction with MagForce was made possible by the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, in which the EIB Group and the European Commission as strategic partners aim to boost the competitiveness of the European economy.

MagForce has developed NanoTherm therapy, a new approach to the local treatment of solid tumours. The method is based on the principle of introducing magnetic nanoparticles directly into a tumour and then heating them in an alternating magnetic field. Depending on the duration of treatment and the temperatures achieved within the tumour, the tumour cells are either irreparably damaged or sensitised for additional chemo or radiotherapy.

This approach makes it possible to combat the tumour from within, while sparing surrounding healthy tissue. The side effects of the treatment are significantly lower than those in the standard methods currently used. In addition, the NanoTherm therapy displays a high degree of efficacy proven in clinical studies. It received regulatory approval for brain cancer in Europe, and patients are already successfully treated in Germany.

EIB financing will support NanoTherm’s Europe-wide roll-out for brain cancer treatment. Furthermore, the facility will support European and global approval for prostate cancer – another oncological condition, which can be treated with NanoTherm therapy. In addition, MagForce is working on next generation nanoparticles, which will not only be able to generate heat but can also be used as drug transport mechanisms.

Ben Lipps, Chief Executive Officer of MagForce, commented: “We are honored that MagForce is backed by the European Fund for Strategic Investments. The loan will significantly enhance our financial standing and help us to roll-out MagForce’s NanoTherm therapy across Europe. It will also support the development and global commercialisation of prostate cancer solutions and MagForce’s next generation NanoTherm.”

European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: “The European Commission is committed to promoting investment in research and innovation. I am delighted that, with today’s agreement, the Plan is contributing to the development of sophisticated new treatments for cancer patients. This is a very tangible example of the powerful impact EU support for investments can bring about.”

EU action to fight 10 years of financial crisis

“Thanks to the determined policy response to the crisis the EU economy is now firmly recovering and the Economic and Monetary Union is stronger than before. We need to build on this progress, completing the financial union, reforming our economies to foster convergence, inclusiveness and resilience, and maintaining sustainable public finances. In doing so, we should pursue a balanced approach where risk reduction and risk sharing go hand-in-hand and the unity of the single market is preserved.” Said Vice-President Valdis Dombrovskis, responsible for the Euro and Social Dialogue.

The global financial crisis began 10 years ago and led to the European Union’s worst recession in its six-decade history. The crisis did not start in Europe but EU institutions and Member States needed to act resolutely to counter its impact and address the shortcomings of the initial set-up of the Economic and Monetary Union. Decisive action has paid off: today, the EU economy is expanding for the fifth year in a row. Recent economic developments are encouraging but a lot remains to be done to overcome the legacy of the crisis years. The European Commission is fully mobilised to deliver on its agenda for jobs, growth and social fairness.

Commissioner Pierre Moscovici, responsible for Economic Affairs, Taxation and Customs, said: “Ten years after the global crisis began, the recovery of the European economy has firmed and broadened. We must use this positive momentum to complete the reform of our Economic and Monetary Union. Not all legacies from the past correct automatically. We have seen greater social and economic divergences develop in and among Member States. It is essential that our work going forward contributes to the real and sustained convergence of our economies.”

« Older Entries