BRUSSELS :The European Union on Tuesday agreed a 43 billion euro ($47 billion) plan for its semiconductor industry in an attempt to catch up with the United States and Asia and start a green industrial revolution.The EU Chips Act, proposed by the European Commission last year and confirmed by Internal Market
BRUSSELS :The European Union on Tuesday agreed a 43 billion euro plan for its semiconductor industry in an attempt to catch up with the United States and Asia and start a green industrial revolution.
Reuters reported on April 5 that a deal was imminent and the confirmation of the EU Chips Act was welcomed by industry players which said it would bring manufacturing capabilities, skills and research and development improvements. Since the announcement of its chips subsidies plan last year, the EU has already attracted more than 100 billion euros in public and private investments, an EU official said.
"The critical piece of the equation which the EU will need to get right, as for the U.S., is how much of the supply chains supporting the industry can be moved to the EU and at what cost," said Triolo.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia stocks on edge for earnings, China dataSYDNEY : Asian stocks opened cautiously on Monday as U.S. earnings season gets into full swing, while a raft of Chinese data will offer insight into how the world's second-largest economy is recovering.Markets have also seen a mood shift on the outlook for U.S. interest rates, with futures implying an 80
Read more »
Asia and Australia target greenwashing as companies risk penaltiesPressure is growing in the region for companies to be more honest in their climate and ESG claims. Read more at straitstimes.com.
Read more »
Nine more US states join Justice Department lawsuit against Google over ad techWASHINGTON : Nine more U.S. states on Monday joined a civil antitrust lawsuit filed earlier by the Justice Department against Alphabet Inc's Google for allegedly monopolizing multiple digital advertising technology products, the department said.The Attorneys General of Arizona, Illinois, Michigan, Minneso
Read more »
Nine more US states join federal lawsuit against Google over ad techWASHINGTON :Nine states, including Michigan and Nebraska, have joined a U.S. Department of Justice lawsuit against Alphabet's Google which alleges the search and advertising company broke antitrust law in running its digital advertising business, the department said on Monday. The states joining the lawsuit w
Read more »
Nine more US states join federal lawsuit against Google over ad techGoogle has denied any wrongdoing. Read more at straitstimes.com.
Read more »
EU may struggle to catch up with US, Asia in chips subsidies raceBRUSSELS/STOCKHOLM : The European Union agreed a 43-billion-euro ($47 billion) chip subsidies plan on Tuesday but the relatively modest budget, lack of a domestic market for cutting-edge chips and red tape could hamper efforts to catch up with the United States and Asia.The size of subsidies under the EU
Read more »