The Halle Institute for Economic Research (IWH) has predicted Germany’s GDP will fall by 0.6 percentage points over 2023, a sharp revision to previous predictions. One of the most-prominent economic organisations on the continent, the IWH has called its new forecast a “strong downward revision” of 0.9 percentage points. It cited a slower recovery in…
Finnish firm Valmet has signed a €175m loan agreement with the EIB to support its efforts to finance technologies that replace fossil fuels with renewables. According to the company, the financing aims to enhance the resource and energy efficiency as well as the performance of Valmet’s technology, promote the use of recyclable raw materials and…
The economies of Europe have proved a drag on worldwide economic growth, according to new work from the OECD. The organisation’s Interim Report September 2023: Confronting Inflation and Low Growth found global GDP advanced at an annualised pace of 3.2% in the first half of the year. While growth was strong in the US and…
EU president Ursula von der Leyen has suggested the trading bloc’s sustainable development goals (SDGs) have been set back by the current economic and geopolitical climate. The remarks came during her speech at the 2023 Sustainable Development Goals Summit, which was held over two days in New York. Von der Leyen said that a “cascade…
Investment across the European real estate market totalled €248bn in 2022 – a fall of 14% on the previous year, according to law firm CMS. The first half of last year saw markets rebound after the Covid pandemic, according to the European Real Estate Deal Point Study – however, the sharp increase in financing costs…
A ‘year of reckoning’ has arrived for the European fintech scene, according to growth investor Finch Capital. The firm’s State of European Fintech 2023 report found funding for the sector dropped by 70% year on year, to levels last seen before 2020. At the same time, the report added, while mergers and acquisitions had remained…
Deutsche Bank has launched investment manager DB Investment Partners (DBIP), which will offer institutional and high net worth clients access to private credit investment opportunities. According to the bank, DBIP will invest across a range of private credit investment strategies and asset classes including corporates, real estate and asset-based finance. This will include renewable finance…
Finding reliable data continues to be a major issue for responsible investors, according to the ESG Global Survey 2023, published by BNP Paribas. In the report, incomplete and inconsistent data and research was cited by almost three-quarters (71%) of investors as the most-significant barrier to ESG investing. The biggest data challenges for those investors, the…
EFAMA and other trade bodies call for ‘active account requirement’ to be scrapped
The Spanish city of Barcelona has been identified as the second-best hub on the continent for biotech investment, according to a report from CPHI. At a country level, meanwhile, the CPHI Annual Report expected Spain would emerge as the sixth country in the world and third in Europe with the greatest “pharma growth potential” by…
Europe needs a better and more complete capital market set-up, according to the European Central Bank (ECB). In its analysis ‘Europe needs to think bigger to build its capital markets union’, the bank says the key is the creation of an “integrated European capital market”. Fabio Panetta, a member of the ECB’s executive board, argues…
Activist group NewGAMe has nominated Randel ‘Randy’ Freeman to be the new chief executive of GAM. Multiple reports say the activist group, which owns just under 10% of the Swiss asset manager, will put forward Freeman as the new chief executive at the next AGM, due to be held in September. It was reported that…
