• Tata Power sees a potential 2-3 GW market for Indian-made solar cells and modules in at least one European country.
• The company has 4.9 GW of integrated cell and module capacity and plans up to 10 GW of upstream ingot and wafer manufacturing.
• Indian supply could help Europe reduce its reliance on China, although diversification through imports is not the same as rebuilding European manufacturing.

Tata Power is preparing to export solar cells and modules to Europe for the first time as procurement rules and energy security concerns encourage developers to seek alternatives to Chinese equipment.

Chief executive Praveer Sinha told reporters during a post-results call that the Indian company had identified a potential opportunity of between 2-3 GW in one European country. He did not name the market or disclose any specific orders.

Tata Power currently has 4.9 GW of integrated cell and module manufacturing capacity. It is also considering up to 10 GW of capacity to manufacture solar ingots and wafers, the upstream materials needed to produce cells.

The proposed exports would represent a significant change from late 2024, when Sinha said output from the company’s new Tamil Nadu factory was committed to the Indian market for the following 12 to 16 months. Since then, India’s manufacturing base has expanded rapidly, creating greater pressure to identify overseas customers.

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Europe offers a large but highly contested market. More than 95% of solar modules installed in the EU are imported, with China accounting for roughly 94% of module and cell supplies in 2023. Low Chinese prices have supported rapid deployment but contributed to factory closures and weak investment in European manufacturing.

The EU’s Net-Zero Industry Act seeks to reduce that exposure by introducing resilience and sustainability criteria into renewable energy auctions. It also sets an ambition for European manufacturing capacity to approach 40% of the bloc’s annual deployment needs by 2030.

Italy provided an early test of the approach in 2025, awarding more than 1.1 GW to 88 solar projects in its first auction restricted to equipment made outside China. The average tariff was €66.38/MWh, around 17% higher than in earlier auctions without sourcing restrictions, according to Reuters.

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Supply chain resilience

Indian manufacturers' equipment can offer buyers an alternative to Chinese final assembly without carrying the full cost of European production. An EU-India trade agreement concluded earlier this year, which reduced tariffs on most goods, could improve that proposition further.

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However, the distinction between assembly location and supply chain origin will matter. Unless suppliers can demonstrate where wafers, polysilicon and other inputs were produced, modules assembled in India may still contain a substantial amount of Chinese material. Tata Power’s planned upstream expansion could therefore prove more strategically important than its existing module capacity.

The development is relevant to the UK even though EU procurement rules do not apply directly. The UK’s Solar Roadmap calls for more resilient, diverse and sustainable supply chains, with particular emphasis on traceability and eliminating forced labour.

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Brussels has been examining ways to shield European industry from what many manufacturers say is the negative fallout from China’s industrial overcapacity and subsidised exports.

Stefania Pigozzi, head of economic studies at Italian machine tool industry association UCIMU, said Chinese manufacturers had largely satisfied domestic demand and are now rapidly expanding overseas.

UCIMU said it wants imported machinery to be subject to the same technical and safety standards required of European manufacturers in order to level the playing field.

"Europe needs common rules that apply to everyone," Pigozzi told Reuters. "Machinery safety standards, for example, have a direct impact on production costs and ultimately on the final price of a product."

For most Italian companies, meanwhile, moving production to China to compete against Chinese manufacturers on equal terms is not an option, she added.

UCIMU represents about 250 producers of machine tools, robots, automation systems and components with combined revenue of roughly €8 billion ($9.1 billion) and employing some 30,000 workers.

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According to data compiled by UCIMU from national industry associations and Italy’s trade agency ICE, China’s share of global metalworking machine tool exports rose to 23% in 2025 from 8% in 2016, while Europe’s fell to 46% from 52% during the same period.

Italy, the world’s fourth-largest machine tool exporter, also lost ground over the period. Its share of global exports slipped to 7.8% in 2025 from 8.4% in 2016, while Italian exports to China plunged to €110 million from €316 million.

The concerns of Italian manufacturers echo a broader debate within the EU.

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Earlier this year Italy joined France, Spain and two other countries in calling on Brussels to strengthen trade defence tools to protect European industry from unfair competition.

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For three years Europe has repeated the same phrase about China, de-risking, not decoupling, and for three years it has struggled to show what the phrase means in practice. In mid-2026 that is starting to change.

At the European Council on 19 June, heads of state handed the Commission a clear political mandate to strengthen the bloc’s defences against Chinese industrial overcapacity and other forms of what Brussels calls unfair competition. The debate ran for more than two hours, which in European summitry signals a genuine argument rather than a rubber stamp.

The numbers behind the frustration are stark. The EU’s trade deficit with China has swollen to roughly 360 billion euros a year, close to a billion euros every day. Behind that figure sits a pattern European manufacturers know well: heavily subsidised Chinese capacity in electric vehicles, solar panels, batteries and now chemicals, produced far in excess of Chinese demand and pushed onto world markets at prices domestic rivals cannot match.

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Yet the [European] Commission is careful to keep the door open. De-risking was always meant to reduce exposure, not to sever a relationship worth hundreds of billions in two-way trade.

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Beijing, for its part, reads every tariff as provocation and has warned of retaliation against European farm goods, spirits and luxury exports.

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What has shifted in 2026 is not the slogan but the resolve behind it. Europe has stopped debating whether Chinese overcapacity is a problem and started arguing about how forcefully to answer it. For a bloc that prizes consensus and caution, that is a meaningful change of gear.

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Europe’s wind turbine makers are examining whether combining to create industry champions would help them confront Chinese competition in the race to supply the global wind power industry.

China’s and Europe’s wind turbine makers have each long held sway in their domestic markets but China’s manufacturers are developing an edge in fast-growing regions such as Latin America and the Middle East, as well as looking to gain ground in Europe.

This march into wider territories has fuelled European angst over its strength in strategic industries and prompted the suggestions from some executives for the need to consolidate to create greater scale. “I have great faith in European industrial capacity,” says José Manuel Entrecanales, chief executive of Acciona, the largest shareholder in Nordex, which sold the most turbines by capacity in Europe last year.

“We’ve got a number of opportunities — one of which is wind. [But] scale is the essence. [. . .] We believe that to gain the scale difference, consolidation is the only means.”

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In April, the European Commission published long-awaited new guidelines for mergers and acquisitions, putting more focus on the benefits of corporate scale and urging competition officials to give greater weight to innovation, investment and resilience of the internal market.

After several previous mergers, Europe’s wind turbine industry is already relatively concentrated — between Nordex, Vestas, Siemens Gamesa and Enercon — leading to questions over what further tie-ups would be allowed.

“First of all, we need to clarify what it is we want from a political point of view,” said Entrecanales. It was “not worth” talking to rivals until then, he added. “Once we do that, then we can see what possible concepts are doable.”

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The new merger guidelines were one of the initiatives stemming from the landmark 2024 Mario Draghi report, aiming to boost European competitiveness and prevent the bloc countries from lagging in both the digital and energy transition.

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Hungary’s previous [Orban] government pledged substantial financial support for BYD’s planned investment in the city of Szeged, a parliamentary state secretary at the Hungarian Ministry of Foreign Affairs has said.

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‘Guest workers and generous subsidies’

György László Velkey [said that] according to documents held by the ministry, the Hungarian state committed more than 70 billion forints in infrastructure support for the area where BYD is set to establish operations. In addition, the government offered significant direct financial assistance to the company, although the precise sum remains a commercial secret.

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“I can say, however, that the scale is comparable to the funding provided for the CATL factory in Debrecen,” the state secretary noted.

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It also emerged that BYD has been granted permission to bring in around 10,000 guest workers—almost as many as the number of jobs the investment is expected to create, he added.

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Péter Stumpf, parliamentary state secretary at the Ministry for Rural and Regional Development and MP for the area, said in the same video that residents of Szeged have three key expectations regarding the project.

They expect the company to comply fully with existing legislation—particularly environmental regulations—so as not to endanger public health; to provide well-paid jobs for local residents and Hungarian workers; and to ensure that Szeged benefits from the company’s economic success.

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“It appears that Péter Szijjártó, the former minister for foreign affairs and trade, and Fidesz did not represent these interests during the negotiations,” Stumpf said.

Mr Velkey concluded by stressing that the current government would negotiate with the Chinese company—and with all foreign partners—solely with the interests of Szeged’s residents and the Hungarian people in mind.

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Mr Szijjártó recently announced that he would resign his parliamentary seat and join BYD as an international executive responsible for global external relations and the development of new business divisions.

The former minister, who has been attending a world championship event in the United States, described his new contract on Facebook as “the signing of the year”. However, many—even within Fidesz—have reportedly viewed the move as a betrayal at a difficult time for the political community.

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The head of the center-right New People party on Monday voiced Russians’ growing frustration with the protracted war in Ukraine and government tech bans in a speech on the last day of the State Duma’s current convocation.

Russians are “exhausted by uncertainty and injustice,” Alexei Nechayev was quoted as saying by the RTVI broadcaster.

He characterized the wartime restrictions, including those infringing on Russians’ digital and technological freedoms, as “useless” for both public safety and public order.

“We’ve accumulated a mountain of bans… They erode trust and slow down the country’s development. There are so many bans now that nobody even knows what’s allowed and what’s forbidden anymore,” Nechayev said.

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Nechayev also called out the “injustice” of his colleagues demanding a sweeping ban on Western social media while they themselves use VPNs and other tools to bypass those restrictions.

“Let’s change our approach. Let’s stop viewing the average citizen as an ignorant child or a potential criminal,” he said, referring to Russians as the country’s “main capital” that should not be “squandered.”

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The rare airing of frustration — which nevertheless stopped short of denouncing the war — by the leader of the youngest party in the Duma comes ahead of legislative elections this September.

While the ruling United Russia party is widely expected to secure an overwhelming majority, New People, which currently holds 15 seats in the 450-seat Duma, is among a handful of parties jockeying for second place

Although New People, which was founded in 2020, is considered more liberal-leaning than other parties, its lawmakers usually vote in line with United Russia on major issues, including the invasion of Ukraine.

Last week, New People joined other parties in passing legislation that would cut off exiled anti-war Russians from consular and other services that legal experts warn will severely disrupt the lives of emigres abroad.

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The entire ifo Business Climate Report (pdf)

Business sentiment among companies in Germany has improved, according to the German cconomic research institute ifo. The ifo Business Climate Index rose to 86.6 points in July, up from 85.7 points in June , due to a significant improvement in expectations. However, companies were somewhat less satisfied with their current business performance. Despite the uncertain situation in the Persian Gulf, companies are less pessimistic.

In manufacturing, the index rose noticeably. Expectations, in particular, saw a significant boost. Assessments of the current situation were somewhat less favorable. Demand picked up, and material shortages eased.

In the service sector, the business climate improved. Service providers were less skeptical about the coming months. However, they assessed the current business situation as slightly worse. Sentiment among tour operators has picked up.

In trade, the indicator rose once again. Companies were somewhat more satisfied with their current business. Expectations were also less pessimistic. Retailers, in particular, were less concerned about their future performance.

In construction, the index picked up. Both assessments of the current situation and expectations improved. Fewer companies reported a lack of orders.

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Armenian attitudes toward the LGBTQ community have transformed in recent years, in part due to the war in Ukraine. While a queer club in Yerevan was firebombed in 2012, the capital is now home to a thriving underground drag scene. But despite these events attracting hundreds, police raids and family rejection are still commonplace.

cross-posted from : https://lemmy.zip/post/68671425

China’s massive oil reserves and diversified energy mix have helped soften the Iran war’s global economic impact, European Central Bank (ECB) economists have said.

A massive majority of Spaniards believe corruption in the country has skyrocketed under the government of Pedro Sanchez.

The findings come from a new report published by the European Commission, which notes that this perception has especially worsened in the last five years – affecting not just the average citizen but companies and the judicial system.

The Special Eurobarometer survey found that Spain scores highly on the perceived corruption indexes compared to its European counterparts.

It comes after a turbulent week in which Sanchez’ family has been under fire for various corruption scandals.

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Spain scored just 55 out of 100 in the Corruption Perception Index 2025, placing it seventeenth in the European Union and 49th worldwide.

According to the new survey, 92% of Spanish citizens consider that corruption is widespread, far above the European average of 71%. Moreover, 53% say they feel personally affected by corruption, in comparison to the 30% of the European average.

The document released this Friday comes on the back of a period of chaos.

Last Thursday, a court ruled that Begona Gomez, Pedro Sanchez’s wife, will stand trial for charges of influence peddling and embezzlement.

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The ruling came just two days after a ruling against David Sanchez, the prime minister’s brother, who is now barred from public office for nine years.

He had been working a role that was specifically created for him.

Meanwhile, former transport minister Jose Luis Abalos was convicted last month over illegal pandemic mask contracts.

In response to the recent rulings, several Sanchez allies have attacked the decisions, calling them ‘a judicial conspiracy’ and ‘politically motivated cases’ which amount to ‘lawfare’.

Judges and legal professionals continue to show concern. The Constitutional Court warns that statements against judges contribute to eroding public trust in the justice system.

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The EU Commission has warned Sanchez’ government that: “All powers of the state – executive, legislative and judicial – must act with mutual respect to guarantee proper functioning.”

This is not the first time Sanchez’ government is being put on the spot by the EU Commission. Last year former attorney general Alvaro Garcia Ortiz was found guilty in a controversial case over the leaking of confidential information.

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A Canadian national interning at NATO’s strategic military headquarters in Belgium has been arrested on charges of spying for a foreign power and participating in a criminal organisation, Belgian authorities announced on Saturday.

The suspect, an intern of Chinese origin based at the Supreme Headquarters Allied Powers Europe (SHAPE) near Mons, was formally served with an arrest warrant on 24 July, following a multi-agency security operation.

According to the Belgian Federal Prosecutor’s Office, the suspect was initially flagged by SHAPE’s internal security team. The case was subsequently escalated to Belgium’s General Intelligence and Security Service (SGRS) and referred to federal prosecutors for a formal criminal investigation.

On 23 July officers from the Charleroi Federal Judicial Police carried out coordinated raids at the suspect’s residence and her office within the NATO facility. Specialised units, including the Computer Crime Unit and forensic teams from Charleroi and Mons, assisted in seizing potential digital and physical evidence.

An investigating judge at the Hainaut Court of First Instance ordered her detention the following day.

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The term "digital sovereignty" is popular but where are the jobs? The EU and its member states are supposedly unlocking billions in funding to support it, but when I search for "digital sovereignty" jobs, I find next to nothing.

Is digital sovereignty really happening or is just being hyped with nothing behind it?

Just in the first quarter of this year, the Russian state power giant RusHydro saw its debt grow 40% to over a trillion rubles. Economic analyst Maxim Blant explains why and how the Kremlin, already buckling under the financial strain of the war and other corporate bailouts and stimulus, will have to bail RusHydro out and what that will mean for the economy.

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On top of the challenge of financing military spending that is increasingly stretching the federal budget, the Kremlin is now facing another serious problem: rescuing debt-laden “too-big-to-fail” companies. Now, following in the footsteps of the state rail monopoly, Russian Railways (RZhD), Russia’s top electricity producer and one of the world’s largest hydropower companies, state-controlled RusHydro, has found itself unable to cope with its debt burden.

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RusHydro is neither the first nor the only Titanic of the Russian economy to send out an SOS. Late last year, RZhD turned to the government for emergency assistance. That said, RZhD’s debt relative to earnings (debt/EBITDA) remains substantially lower (that is, better) than RusHydro’s, without exceeding (at least according to the company’s official financial statements) the limit of 3.5 set by the RZhD board.

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Before RZhD, another state-controlled monopoly had to be rescued: Gazprom. After two years of record losses driven by the loss of most of the European market, the gas giant successfully lobbied for a substantial tax break, while domestic gas prices were approved to be raised at a pace well above officially printed inflation.

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Overall, the poor state of affairs at RZhD and RusHydro suggests that the Kremlin’s attempt to balance a war that has become a black hole for resources – human, material and financial – and the implementation of massive investment projects in Eastern Siberia and the Far East represents a strategic mistake.

To a large degree, this mirrors the late-Soviet experience, when the country found itself simultaneously fighting a war in Afghanistan, trying to win the arms race against the US and pouring resources into so-called “Komsomol” mega projects, such as the Baikal-Amur Mainline railway.

The consequences of today’s strategic mistake may prove no less fatal.

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