Bulgaria's Cardiovascular Crisis: Deputy PM Urges Action
Bulgaria is grappling with a staggering burden of cardiovascular diseases, with more than 6 million new cases and over 1.8 million deaths reported annually
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The European Commission's anti-trust body has approved billions of euros in state aid to the electric battery industry. The move is aimed at helping the EU catch up in the strategic production sector, DW reported.
EUR 3.2 billion ($ 3.5 billion) mega-subsidy from Germany, France, Italy, Poland, Belgium, Sweden and Finland will go to 17 companies and will help generate an additional € 5 billion in private investment, according to a release cited by AFP.
The move is part of a major push led by Germany and France to prepare Europe for the transition from gas and diesel combustible to electric engines due to environmental concerns.
The European automotive industry employs over 10 million people and the EU - led by Germany and France - is deeply concerned about Europe's dependence on car batteries from Asia.
"Battery production in Europe is of strategic interest for our economy and society because of its potential in terms of clean mobility and energy, job creation, sustainability and competitiveness," Margrethe Vestager, the EU commissioner in charge of competition policy, said.
The Commission, which commits itself to EU antitrust legislation, usually adheres to a strict anti-subsidy policy, but gave more freedom to countries to support strategic transnational projects in 2014.
The subsidies are part of an EU campaign called the European Battery Alliance.
The campaign, launched in 2017, covers companies such as German car giant BMW and chemical multinationals BASF and Solvay.
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The Czech Republic has revealed the dismantling of a vast network of Russian influence spanning across Europe, with Bulgaria among its targeted countries
The European Prosecutor's Office in Sofia has taken legal action against an individual suspected of fraudulent activities involving European subsidies, as announced by the Luxembourg-based institution
German arms manufacturer Rheinmetall has secured a substantial financial boost from the European Union, receiving over 130 million euros to enhance its ammunition production capabilities
Eurostat's recent publication on Wednesday showed insights into hourly labour costs across the European Union (EU) in 2023, indicating a notable rise compared to the previous year
A major security breach has taken place within the EU police service – Europol, as detailed by the online publication 'POLITICO'
Eurostat's 2021 data indicates that Bulgaria housed the three regions within the European Union exhibiting the highest standardized death rates
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022