Sweden is a nearly cashless society – here’s how it affects people who are left out

fizkes/Shutterstock Moa Petersén, Lund University and Lena Halldenius, Lund UniversityAround the world, cards and apps are the default way to pay – but nowhere is the transition away from cash more obvious than in Sweden. The Bank of Sweden notes that the amount of cash in circulation in the country has halved since 2007. Part of this is due to a unique Swedish law that prioritises “freedom of contract” above any legal requirement to accept cash. In other words, it is up to businesses – including banks – whether they take cash. Public transport, stores and services typically do not accept cash as payment, and there is no infrastructure for paying bills over the counter. The transition to cashlessness accelerated when a group of banks created the mobile payment app Swish in 2012. By 2017, Sweden was using less cash than other European countries. Today, more than 80% of the population has a Swish account. For most Swedes, the cashless economy is swift and convenient. As long as you have a bank account and can access the technology, you probably live a cashless life already. But...

Read More........ → January 30, 2025

UK officially joins Asia-Pacific trade bloc CPTPP

London, (IANS): The U.K. officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) on Sunday, becoming the first European nation to join the Asia-Pacific trade bloc. The 12-country landmark trade agreement is expected to boost the British economy by 2 billion pounds (about 2.52 billion U.S. dollars) annually in the long term, according to the Department for Business and Trade, Xinhua news agency. The department noted on its website that the UK's accession to CPTPP is a cornerstone of the government's Plan for Change, which aims to deliver economic growth and increase household incomes. The plan is projected to raise household wages by 1 billion pounds (1.26 billion dollars) annually while benefiting all regions of the country. "Agreements like this boost trade and create opportunities for UK companies abroad, supporting jobs, raising wages, and driving investment across the country," said British Business and Trade Secretary Jonathan Reynolds. Ian Stuart, CEO of HSBC UK, underscored the significance of the trade bloc, stating: "Since the announcement...

Read More........ → December 16, 2024

EU gives €127m funding boost to 6G research

The funding will focus on 6G innovation and sustainable network developmentAt the 5G-Techritory event this week, Smart Networks and Services Joint Undertaking (SNS JU) has announced the recipients of €127 million in funding set aside for 6G research in Europe.The SNS JU was set up in 2021 with the aim of developing industrial leadership in 5G and 6G networks and services.Sixteen projects have been chosen to drive forward Europe’s 6G development, with a focus on sustainable, AI-driven, and secure communication networks.This year’s SNS JU call had 1,874 applications from 33 European countries requesting a combined €863 million, far surpassing the available funding.The winning 16 projects involve 301 organisations across 25 countries.Among the winners were the following projects: FLECON-6G, which aims to create a flexible, secure “Network of Networks” for 6G. UNITY-6G, which will develop an AI-driven architecture for a sustainable 6G network. AMBIENT-6G, which focuses on energy-harvesting technology for long-lasting IoT devices. 6G MIRAI and 6G ARROW, which represent international collaborations...

Read More........ → November 08, 2024

EU seeks to take on China, US to reverse economic decline

BRUSSELS - The European Union's economy is falling further behind China and the United States, a major headache that will dominate leaders' talks on Thursday as they discuss how to stem the bloc's economic decline and bounce back.From supply chain disruptions following the coronavirus pandemic to an energy crisis after Russia's invasion of Ukraine, Europe's economy has faced multiple challenges in recent years.But it may yet face its biggest: the clean energy and digital transitions that Brussels has made its priority in the coming years will require additional annual investment of nearly 620 billion euros ($660-billion).From artificial intelligence to solar panels, from computer chips to batteries, the EU is fast losing ground fast on innovation to other global powers.The EU has been put further on the back foot as China and the United States have ploughed billions of dollars of state aid to prop up their critical industries.What is needed is "radical change", former European Central Bank chief Mario Draghi said during a speech in Belgium on Tuesday, pointing to "other regions (that)...

Read More........ → October 06, 2024

Euro 2024: 'I'll always give my best for this shirt...', says Ronaldo after penalty miss against Slovenia

Frankfurt, (IANS) Portugal pulled through in their Round of 1 matchup vs Slovenia. The game remained goalless after 120 minutes and it was Diogo Costa who proved to be the hero as the goalkeeper saved three penalties in the shootouts.Despite the win, a lot of the focus was on Cristiano Ronaldo as the Euros top goalscorer of all-time failed to convert a penalty in the 105th minute of the game and missed the chance to give his side the victory."This will be my last Euro, of course. But I’m not moved by this, I’m moved by enthusiasm. I was sorry for the fans. I'll always give my best for this shirt, whether I miss it or not. And I'll do this my whole life. You have to take responsibility," said Ronaldo in the post-game conference.Following the penalty miss, Ronaldo was seen crying, breaking the hearts of many football fans around the world. The five-time Ballon d’Or winner later went on to turn his disappointment into a smile as he scored a penalty during the shootouts."I could have given the national team the advantage, but I didn’t manage it, Oblak saved. I didn’t miss once during the...

Read More........ → July 11, 2024

Fico ally Peter Pellegrini sworn in as Slovakia President

Bratislava, (IANS/DPA) Peter Pellegrini, a close ally of left-wing populist Prime Minister Robert Fico, was sworn in as the President of Slovakia on Saturday.The 48-year-old took the oath of office in a ceremony at the Slovak Philharmonic in Bratislava in the presence of the members of parliament.Pellegrini won the run-off election in April with 53.1 per cent votes, defeating former Foreign Minister Ivan Korcok.Ukraine featured prominently in the campaign, with Pellegrini advocating a cautious stance on arms deliveries to Kyiv - a position in line with Russia-friendly Fico.Pellegrini previously served as the Prime Minister from 2018 to 2020 and also as the parliamentary Speaker.The incumbent, Zuzana Caputova, a lawyer and rights activist, did not run for a second five-year term despite her continued popularity as the President.Pellegrini's 'Voice - Social Democracy' party is part of Slovakia's governing coalition, led by Fico. The right-wing populist Slovak National Party (SNS) is also part of the fractious coalition.Presidents in Slovakia have few executive powers, although they can...

Read More........ → June 23, 2024

Meloni set to act as kingmaker for next European Commission President

Brussels, (IANS/DPA) Italian Prime Minister Giorgia Meloni Meloni is all set to act as kingmaker for the next European Commission President as she is polling well ahead of her rivals as Italians, Estonians, Latvians, Maltese, Czechs and Slovakians go to vote in the European Parliament elections on Saturday.Meloni could be poised to act as kingmaker for the next European Commission president if her Brothers of Italy (FdI) makes major gains.Incumbent Commission President Ursula von der Leyen has been openly courting Meloni in the hope of winning the confirmatory votes of the European Conservatives and Reformists (ECR) group, a pan-European soft-eurosceptic bloc that Meloni now leads and whose ranks FdI candidates aim to join if elected to the European Parliament.As the EU's third-most populous country, Italy can send a total of 76 delegates to the 720-seat European Parliament, putting anyone who wins big there in a powerful position at EU level.According to a "poll of polls" compiled by the news website Politico, the conservative FdI is in first place with 27 per cent, six points ahead...

Read More........ → June 13, 2024

Polish ministry approves plans for Rolls-Royce SMRs

How a Rolls-Royce SMR might look (Image: Rolls-Royce SMR)Polish industrial group Industria's plan to construct a power plant based on Rolls-Royce's small modular reactor (SMR) has been approved by the Ministry of Climate and Environment.Industria submitted its application for a decision-in-principle in December last year to Polish Climate and Environment Minister Paulina Hennig-Kloska. The application concerns the construction of a nuclear power plant using Rolls-Royce SMR technology - a 470 MWe design based on a small pressurised water reactor - and a used nuclear fuel storage facility as an integral part of the power plant.On 10 May, Hennig-Kloska issued the ministry's decision-in-principle, saying that she believes the investment would be in the public interest and in line with Poland's energy and climate policies. The application was positively assessed by the Head of the Internal Security Agency and the Minister of State Assets.The decision-in-principle represents official state approval for the planned investment in accordance with the assumptions and concept presented by the...

Read More........ → May 24, 2024

Poland's nuclear programme making good progress, says IAEA : New Nuclear

Ceyhan, right, presents the draft report to Motyka (Image: Polish Climate Ministry)An International Atomic Energy Agency review mission has praised steps taken to develop the necessary infrastructure for a safe and sustainable nuclear power programme in Poland. Meanwhile, Bechtel marks the start of site field work for the country's first nuclear power plant.The 11-day IAEA mission to Poland - a Phase 2 Integrated Nuclear Infrastructure Review - took place from 15 to 25 April at the invitation of the Polish government and used the IAEA's Milestones Approach to review the status of 19 nuclear infrastructure issues. The aim is the check the readiness of a country to invite bids or negotiate a contract for their first nuclear power plant.The 10-person team "identified good practices that would benefit other countries developing nuclear power in the areas of contracting approach, strategic approach to funding, early authorisation of technical support organisations to support the nuclear regulator, engagement with the electrical grid operator, stakeholder involvement and industrial involvement".Mission...

Read More........ → May 04, 2024

SES to buy Intelsat for $3.1bn

Posted by Georgia Sweeting: The deal comes less than a year after the two companies broke off merger talksLuxemburg-based satellite company SES has signed a deal to buy Intelsat Holdings for $3.1 billion.A joint press release from the two companies explained the combination as creating “a stronger multi-orbit operator with greater coverage, improved resiliency, expanded suite of solutions, enhanced resources to profitably invest in innovation, and benefit from the collective talent, expertise, and track record of both companies.”Once combined, SES’s orbital assets will include 100 Geostationary Earth Orbit and 26 Medium Earth Orbit satellites.The deal gives Intelsat an enterprise value stands of $5 billion, with SES suggesting the deal will deliver synergies worth €2.4 billion ($2.6 billion).“Going forward, customers will benefit from a more competitive portfolio of solutions with end-to-end offerings in valuable Government and Mobility segments, combined with value-added, efficient, and reliable offerings for Fixed Data and Media customers,” said SES CEO Adel Al-Saleh.Rumours related...

Read More........ → May 02, 2024

Solar Balconies Are Booming in Germany and You Can Plug in and Install Them Yourself

A solar balcony from Ertex Solar Austria.Solar panels are finding their way onto all sorts of surprising surfaces, and now Central Europeans are beginning to line their balcony rails with them; because why not?To mark the 70th anniversary of the solar cell’s mainstream entry into society, data acquired by Euronews claims that 400,000 German households have already connected their verandas and balconies to solar panels.New data shows at least 50,000 of the PV devices were added in the first quarter of 2024 alone.Easy to install—such that many do it themselves, the technology makes every bit of sense as rooftop PV solar panels. In the Northern Hemisphere, during the winter months especially, the sun comes at such a shallow angle that panels on a balcony may even exceed the power generation of those mounted on a roof.They won’t generate more power, because they’re plugged into smaller sockets, but they present less of a hazard than rooftop solar, and may not even require installation fees. They can also be installed where people may not have the requisite sunlight, the property access,...

Read More........ → April 27, 2024

New study reveals the world’s most searched-for jobs

In 2019, Brother UK, the office electronics supplier, analysed a year’s worth of Google search data. The study revealed the most popular jobs worldwide, and they discussed whether culture and economy impacted careers globally.In 2023, Brother UK conducted a new study investigating how the global job market has changed in the last three years. Brother UK wanted to determine whether a pandemic, economic uncertainties, remote/hybrid working, and AI technologies have transformed how the world searches for jobs.The most searched-for jobs in the UKTeaching assistant jobs are still the most searched-for in the UK. However, there are signs that interest may be waning. In 2019, over 288,000 people searched Google for teaching assistant roles. But since 2020, the average yearly searches have shrunk by 5% to 275,000.UK search data shows that the most significant search increase in the education sector was from qualified teaching positions. While teachers still wish to continue teaching, they may consider switching schools for better career prospects.A recent poll from the National Education Union...

Read More........ → April 10, 2024

Margrethe II, Queen of Denmark, announces abdication

Margrethe II in 2012, Image: Johannes Jansson.During her annual New Year's Eve address on Sunday, Margrethe II, Queen of Denmark, informed the public that she planned to step down on January 14. Crown Prince Frederik, her oldest son, is to succeed her.She is 83 years old and has served as Queen for nearly 52 years. In her live television address, Margrethe also discussed global issues like climate change.In Denmark, the monarch serves as head of state; the parliament is in charge of forming the government.Margrethe received high levels of support from the Danish people, with about 80 percent of the public approving of her as of 2022. Prime Minister Mette Frederiksen expressed gratitude for the queen's decades of service on the throne, calling her the "epitome of Denmark" in a statement.Since the death of the United Kingdom's Queen Elizabeth II, she has been the longest-reigning sitting monarch in Europe and the world's only reigning queen.Born days after the Nazi invasion of Denmark in 1940, she ascended to the monarchy in 1972. During her childhood, the 1953 Act of Succession gave...

Read More........ → January 10, 2024

European Council agrees stance on electricity market reform : Nuclear Policies

The Europa Building in Brussels (Image: European Council)Following months of negotiations, the European Council has reached an agreement on a proposal to amend the EU's electricity market design, agreeing to include existing nuclear plants in the reform. The agreement could result in France dropping a scheme forcing state-controlled utility EDF to sell a portion of its nuclear energy production to competitors below market-level prices.The European Council said the reform aims to "make electricity prices less dependent on volatile fossil fuel prices, shield consumers from price spikes, accelerate the deployment of renewable energies and improve consumer protection". The proposal is part of a wider reform of the EU's electricity market design which also includes a regulation focused on improving the EU's protection against market manipulation through better monitoring and transparency."The reform aims to steady long-term electricity markets by boosting the market for power purchase agreements (PPAs) generalising two-way contracts for difference (CfDs) and improving the liquidity of the...

Read More........ → October 20, 2023

India hands over G20 presidency to Brazil

President of Brazil Luiz Inacio Lula da Silva and Indian Prime Minister Narendra Modi at the G20 summit held in New Delhi Sept. 9 and 10. Brazil took over the presidency from India. PHOTO: X @India’s Ministry of External AffairsNEW DELHI (Reuters) – India on Sunday, Sept. 10, 2023, formally handed over the G20 presidency to Brazil at the closing ceremony of the annual summit of the grouping, that was held in New Delhi this weekend. India Prime Minister Narendra Modi completed the transition by handing over the ceremonial gavel of the presidency to Brazil President Luiz Inacio Lula da Silva. India has had the presidency of the G20 since Dec. 1, when it took over from Indonesia, and will continue to hold the position until Nov. 30. During the two-day summit, the bloc adopted a consensus declaration that made commitments on several issues, including that of food and energy security, climate change and global debt vulnerabilities. Modi, on Sunday, also proposed a “virtual summit” of the grouping at the end of November to assess the status of the suggestions and proposals put forth by members...

Read More........ → September 14, 2023

At G-20, Biden announces ambitious corridor connecting India, Europe

President Biden with PM Modi at Raj Ghat Sept. 10, 2023. PHOTO: X @narendramodiNEW DELHI – President Biden and several other world leaders announced plans here Saturday afternoon for a new rail and shipping corridor that would connect India and Europe through the Middle East, an ambitious proposal aimed at further connecting a volatile region and countering China’s years-long backing of massive infrastructure projects around the world.The announcement solidified a preliminary agreement among a range of participants – including the United States, India, Saudi Arabia, Jordan, Israel, the United Arab Emirates and the European Union – and came as leaders of the world’s largest economies tried to work through divisions on a range of thorny issues.By midafternoon, the leaders here had reached consensus on a 37-page joint declaration on 83 points, several of which referred to Russia’s war in Ukraine. The debate over the war led some to predict that such a statement would prove elusive, particularly given that Russia is a member of the G-20. But they arrived at language that stated that “all...

Read More........ → September 11, 2023

​The UK's economic prospects continue to dwindle

In early February, about half a million people went on strike in the U.K. [Photo/cfp.cn]"The United Kingdom lost more working days to strikes in 2022 than in any year since 1989, as employees walked out in large numbers over pay amid soaring living costs," reads an article on CNN. Last year was, to put it mildly, a miserable experience for the U.K. Despite having mostly recovered from COVID-19, the country's economy remains in a state of stagnation. Faced with shrinking incomes and crippling levels of inflation, its economic performance is worse than any country in the G7 and the only one expected to enter recession.The grim economic prospects throughout the country have led to a tidal wave of economic discontent that has manifested in strikes across the board, drawing upon memories of the industrial unrest and upheavals faced in the 1970s and 1980s. In public opinion polls, the current government is deeply unpopular and trails the opposition Labour Party by over 20 points. Many decisions the government has made, including the decision to follow the U.S. blindly in escalating tensions...

Read More........ → March 01, 2023

NATO must be ready for long standoff with Russia - Stoltenberg

Photo: U.S. Secretary of DefenseBRUSSELS - NATO must be prepared for a long standoff with Russia beyond the immediate crisis triggered by President Vladimir Putin's year-old invasion of Ukraine, alliance chief Jens Stoltenberg told AFP.Moscow's war on its pro-Western neighbor has plunged Europe into its most dangerous crisis since World War II and pushed NATO into the biggest overhaul of its defenses since the Soviet Union collapsed."President Putin wants a different Europe, wants a Europe where he can control neighbors, where he can decide what countries can do," Stoltenberg, 63, said in an interview a week ahead of the first anniversary of Moscow's invasion."We need to be prepared for the long haul, this may last for many, many, many, many years."The Norwegian head of the US-led alliance said he was wary of predicting how long the renewed face-off between Russia and the West would continue, because change can come suddenly."We saw the fall of the Berlin Wall, or we saw 9/11," he said.NATO would, he said, "always look into where there are opportunities to again come into the situation...

Read More........ → February 27, 2023

Biden's meeting with Bucharest Nine is signal of political attention – Lithuanian PM

Photo: Office of the President of the United StatesVILNIUS - US President Joe Biden's meeting with representatives of the Bucharest Nine, also attended by Lithuanian President Gitanas Nauseda, is an important signal of political and practical attention to NATO's eastern flank, Lithuanian Prime Minister Ingrida Simonyte says."The meeting with the leaders of NATO's eastern flank countries is a very important signal. It has been mentioned many times over the years that the Article 5 guarantees are ironclad, they are very solid, but they have to be reinforced with a political dimension, with such political attention, and with a practical dimension, with the physical reinforcement of the eastern flank," Simonyte told the Ziniu Radijas news radio on Thursday. "This invasion (…) has given NATO second wind."As Russia's war in Ukraine continues, many of the Bucharest Nine countries are worried that if Russian President Vladimir Putin succeeds in Ukraine, his next target could be any of these countries.The Bucharest Nine includes Bulgaria, the Czech Republic, Estonia, Hungary, Latvia, Lithuania,...

Read More........ → February 24, 2023

EU proposes 10th sanctions package against Russia

EU flags are seen outside the European Commission in Brussels, Belgium, Jan. 6, 2023. [Photo/Xinhua]The European Commission proposed a tenth package of sanctions against Russia and Iranian drone suppliers, and banning Moscow from acquiring advanced technology, Commission President Ursula von der Leyen said on Wednesday.The proposed export bans worth over 11 billion euros (11.75 billion U.S. dollars) will target technological and industrial goods critical for the Russian economy that the country cannot get through backfilling by third countries, she said.The ban covers electronics, specialized vehicles, machine parts, spare parts for trucks and jet engines, as well as goods for the construction sector that can be directed to Russia's military, such as antennas or cranes.A ban on the export of dual-use and advanced tech goods to Russia is also part of the new sanctions package. The Commission proposes controls on 47 new electronic components that could be used in Russian weapons systems, as well as on specific rare earth materials and thermal cameras.Adding these to the existing list...

Read More........ → February 16, 2023