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At COP29, Barbados Prime Minister Mia Mottley proposed innovative funding solutions to combat climate change, including levies on business class flights, stock and bond trades, and a $5-a-ton tax on fossil fuel emissions, potentially raising $350 billion annually. Mottley emphasized the urgency for developing nations to secure climate finance, as extreme weather risks escalate. Alongside leaders like Spain's Pedro Sanchez, who advocated for fossil fuel taxes, they aim to ensure polluters contribute to climate efforts, with discussions set for COP30 in Brazil.
Spanish Prime Minister Pedro Sanchez announced a €3.8 billion ($4.05 billion) financial aid package for victims of the devastating floods in Valencia that resulted in over 220 fatalities, marking the country's worst natural disaster in over 60 years. This new relief initiative includes 110 measures and complements a previous package of €10.6 billion, which consists of direct aid and loan guarantees.
The European Investment Bank has announced a 900-million-euro aid package to support Spain's recovery from devastating flash floods that recently struck the eastern region of Valencia, resulting in at least 217 fatalities. Prime Minister Pedro Sanchez previously pledged 10.6 billion euros to assist flood victims. EIB head Nadia Calvino emphasized the need for resilient rebuilding methods to withstand increasingly severe climate events.
Spain has allocated 10.6 billion euros ($11.55 billion) in loans and grants to assist victims of the recent flash floods that impacted the eastern coast near Valencia. Prime Minister Pedro Sanchez announced this support on Tuesday, highlighting the government's commitment to aid recovery efforts.
Spanish Prime Minister Pedro Sanchez announced a financial package for flood-affected areas in Valencia, estimating the total cost could reach €10.6 billion. The government will provide €838 million in direct aid to self-employed workers and businesses, along with up to €5 billion in state-backed credit guarantees. This initiative is part of a broader plan for immediate response, reconstruction, and economic relaunch in the region.
China has instructed its automakers to pause significant investments in European countries that support new tariffs on Chinese electric vehicles, which can reach up to 45.3%. This directive follows a divided EU vote, with ten countries backing the tariffs, while others, including Germany, opposed them. The move aims to leverage negotiations with the EU and mitigate potential declines in EV exports, which are crucial for the Chinese market.
Prime Minister Narendra Modi and Spanish PM Pedro Sanchez inaugurated the Tata-Airbus C295 aircraft manufacturing facility in Vadodara, marking India's first private sector final assembly line for military aircraft. The project, part of the "Make in India" initiative, involves the production of 40 aircraft locally, complementing 16 being delivered from Spain. Modi emphasized the facility's role in strengthening India-Spain relations and expressed confidence in future exports of the aircraft.
Prime Minister Narendra Modi and Spanish PM Pedro Sanchez will inaugurate the Tata Aircraft Complex in Vadodara on October 28, dedicated to manufacturing the C-295 aircraft. This initiative includes 56 aircraft, with 16 delivered from Spain and 40 produced in India, marking a significant "Make in India" effort in the aviation sector. The facility will handle the entire lifecycle of the aircraft, supported by various defense public sector units and private enterprises.
Pedro Sanchez
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18:39 12.11.2024
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03:49 27.10.2024
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