Continuing fiscal consolidation, banking sector restructuring and structural reforms, particularly in the labour market, have borne fruit and driven the Spanish economy onto a faster growth track, making the country a stronger performer among its euro zone’s peers in terms of GDP growth.
The UK is about to enter into negotiations with the EU over an exit agreement. Early indications are that the exit talks will be a difficult process. While Brexit has not caused noticeable damage to the British economy so far, the start of divorce talks will inevitably lead to a prolonged period of uncertainty, creating a significant drag on the UK economy and posing a threat to the world at large, including Hong Kong. More
After three years of recession, the Italian economy has returned to growth since 2015. Confidence indicators have gradually improved, while government reforms such as tax breaks for firms hiring young people have improved the labour market conditions. Thanks also to a more competitive euro and low energy prices, Italy has seen a revival in investment sentiment.
Low energy prices, a benign labour market and favourable financing conditions have helped sustain domestic consumption and therefore the German economy. Domestic demand should remain resilient in a low-inflation environment, thanks in part to soft energy prices and an accommodative monetary policy of the ECB. Yet lingering geopolitical tensions will likely put a drag on the growth of exports. More
The French economy has rebounded since the beginning of 2015. While low oil prices and tax cuts for low income earners has been favourable to private consumption, easing credit conditions as well as the recent supportive economic strategies are conducive to private investment. More
On 13 March 2017, the UK Parliament passed the European Union (Notification of Withdrawal) Bill 2016-17 (the “Brexit Bill”) granting approval for Prime Minister Theresa May to trigger Article 50 of the Lisbon Treaty to initiate the UK’s exit from the European Union. On 20 March 2017, the UK’s permanent representative to the European Union informed the EU that Mrs May plans to send a formal notification invoking Article 50 on 29 March 2017. More
Two recent developments shed light on the importance that Irish enforcement authorities place on ensuring products comply with EU safety laws. First, the Health and Safety Authority of Ireland (HSA) has launched a large scale inspection aimed at cracking down on the illegal use of chemicals in jewellery, glues and adhesives. More
In a classic example of multicultural collaboration, an Australian start-up is using French technology and Hong Kong as a demonstration hub to improve business processes and people’s lives through the Internet of Things (IoT). More