The European Parliament’s call to consider a Black Sea naval operation recognises a mounting threat. But protecting merchant ships requires capabilities, clear decisions and political resolve that another resolution cannot supply.

Europe’s Black Sea security problem has become a test of credibility. Merchant vessels face deadly attacks near EU member states, crews are being placed in danger, and Ukrainian export routes remain vulnerable. Yet Brussels is still discussing whether to consider a naval response.

The European Parliament’s latest resolution, adopted on October 22nd by 432 votes to 52, with 88 abstentions, delivers a forceful political message. MEPs hold Russia responsible for attacks on civilian vessels and for extending its aggression into the western Black Sea.

The harder question is what follows. Parliament wants the EU and member states to consider a naval operation, alongside stronger NATO engagement and closer cooperation between Bulgaria, Romania and Türkiye. That is a serious proposal. It is also several consequential decisions short of an operational mission.

Ships, aircraft, defensive weapons, command arrangements and rules of engagement cannot be supplied by parliamentary language. Governments must commit them—and accept responsibility for what happens when an approaching drone threatens a merchant vessel.

The economic stakes are already clear. As EU Today previously reported, attacks threatening routes off Bulgaria have widened the pressure on Ukrainian agricultural exports and neighbouring economies. Higher insurance costs and shipowners’ reluctance to enter dangerous waters can undermine trade without any formal blockade being declared.

That makes maritime insecurity an effective instrument of coercion. Every additional voyage becomes a commercial gamble, while exporters and importing countries absorb costs created by a war they cannot control.

EU Global’s earlier coverage of drone attacks off Bulgaria similarly highlighted the threat to commercial navigation and NATO’s southeastern frontier. These incidents demonstrate how quickly a conflict centred on Ukraine can impose direct burdens on neighbouring European states.

Parliament is unusually pointed about Bulgaria’s conduct. It criticises Sofia’s ambiguous response, challenges Prime Minister Rumen Radev to match requests for allied solidarity with action, and urges Bulgaria to stop delaying participation in NATO’s counter-drone initiative.

The principle is sound. Collective security depends on national governments contributing to the arrangements from which they seek protection. Political hesitation becomes particularly difficult to defend when commercial crews bear the immediate risks.

Nevertheless, Bulgaria cannot reasonably be expected to solve a regional security crisis alone. Nor can Romania. A credible response requires shared surveillance, coordinated interception procedures and practical cooperation with Türkiye.

There is movement. Defence Matters reported on October 21st  that NATO was reinforcing regional surveillance through aircraft, drones, radar systems and specialist personnel. Those measures should improve detection and investigation, although they do not constitute a standing naval escort operation.

That distinction matters. Detecting an incoming threat is essential; defeating it before it reaches a civilian vessel requires a further chain of decisions and capabilities.

Any proposed naval deployment also faces geographical and diplomatic constraints. Türkiye controls passage through the Turkish Straits under the Montreux Convention, which imposes restrictions on warships. A workable mission must therefore be developed with Ankara and grounded in a realistic assessment of available regional forces.

Calling an operation “European” does not resolve those difficulties. Its value would depend on its mandate, resources and ability to protect shipping while managing escalation.

Parliament also wants the EU’s Black Sea maritime security hub operationalised rapidly. Better information sharing and infrastructure protection are sensible objectives. But institutional coordination must produce measurable operational improvements, rather than another layer of meetings between organisations already describing the same threat.

Funding deserves similar scrutiny. MEPs propose using unspent SAFE resources and ensuring that the next long-term EU budget addresses regional defence needs. Governments should explain which capabilities can actually be financed, procured and deployed—and when.

The resolution identifies the danger. Europe’s failure would be to treat that diagnosis as an achievement sufficient in itself.

Merchant crews need protection during their next voyage. Ukraine needs reliable access to export markets. Bulgaria and Romania need capabilities that arrive before another emergency.

Brussels has issued its warning. Governments must now demonstrate that European maritime security means more than condemning the consequences of its absence.

This article originally appeared at DEFENCEMATTERS.EU

Main Image: Adrian-George Asinina MEP, byPhilippe BUISSIN © European Union 2026 – Source : EP

VTM

Paulo Braga, secretário-geral da ANMP, explicou que esta plataforma foi criada para concentrar, num único instrumento, dados que se encontravam dispersos por diferentes entidades. O observatório abrange áreas como a educação, a ação social, a saúde, a governação e a proteção civil, permitindo consultar indicadores relativos a cada município, à NUT III em que se insere e ao conjunto do país.

“Aquilo que pretendemos é agregar num único instrumento dados que andam dispersos por inúmeras entidades”, afirmou à VTM, sublinhando que a ferramenta permite aos utilizadores ter uma visão mais abrangente da realidade dos seus territórios e compará-la com outros níveis de análise.

Realidade

O projeto surgiu inicialmente da necessidade de acompanhar a descentralização de competências para as autarquias, tendo sido posteriormente alargado a outros domínios e áreas temáticas. O objetivo passa por disponibilizar aos municípios o máximo de informação possível sobre a sua realidade, facilitando a identificação de necessidades e a preparação de respostas adequadas.

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Airbnb has changed its rules to limit what property hosts may ask guests to do – including when it comes to cleaning. The updated guidelines state that hosts can now set seven standard house rules and can also add other “reasonable” requests. Airbnb states that guests – who are required to pay a cleaning fee […]

The post Airbnb new rules: Hosts can no longer ask guests to clean before checking out appeared first on Keep Talking Greece.

The explosion of a bag with drugs on Wednesday that injured two police officers and two civilians was “not a terrorist act, but one of the common criminal code,” Citizen Protection Minister Michalis Chrisochoidis said on Thursday. Speaking to ANT1 TV. the Minister said the police were investigating the scene and that those responsible will […]

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VTM

A Câmara Municipal de Vila Pouca de Aguiar e a Junta de Freguesia de Bornes de Aguiar contestam a decisão da VMPS — Águas e Turismo, S.A., de limitar o fornecimento gratuito de Água Mineral Natural Gasocarbónica, mais conhecida como Água das Pedras à população local a um grade por mês e por pessoa, exigindo a manutenção das condições anteriormente acordadas.

Num comunicado publicado nas redes sociais, a câmara municipal e a junta de freguesia afirmam que a redução anunciada “põe em causa um compromisso assumido há várias décadas entre a empresa e a comunidade”, entendendo que este se encontra consolidado como um direito da população, na qualidade de contrapartida pela exploração das águas minerais naturais gasocarbónicas.

O protocolo celebrado em 25 de maio de 2021 entre a câmara municipal, a junta de freguesia e a VMPS previa o fornecimento anual de cerca de 200 mil litros de água mineral natural gasosa engarrafada à população local. Segundo a autarquia, este compromisso foi reafirmado num aditamento assinado em 2024, o qual manteve as obrigações anteriormente estabelecidas em vigor.

As entidades consideram inaceitável que a população seja confrontada com uma redução do fornecimento sem uma explicação prévia e devidamente fundamentada, bem como sem discussão com o município. No comunicado, classificam a decisão como unilateral e defendem o cumprimento integral dos compromissos assumidos.

No dia 7 de outubro de 2026, após terem tomado conhecimento da intenção de reduzir o fornecimento, a câmara municipal enviou um ofício à VMPS, manifestando a sua discordância e exigindo a manutenção das condições anteriormente asseguradas. Esta posição foi também comunicada aos vereadores do executivo municipal durante a reunião da câmara realizada no dia seguinte.

Segundo o município, a Câmara Municipal de Vila Pouca de Aguiar ainda não recebeu qualquer resposta ao ofício enviado à empresa.

A câmara municipal e a junta de freguesia garantem que continuarão a acompanhar a situação e a defender os interesses da população, procurando uma solução que permita manter o fornecimento gratuito de Água das Pedras, conforme acordado. As duas entidades comprometem-se também a manter a comunidade informada sobre os próximos desenvolvimentos.

NOTÍCIA DESENVOLVIDA NA EDIÇÃO DE 28 DE OUTUBRO

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VTM

O apoio varia consoante o número de filhos do agregado familiar. Pelo primeiro filho, o incentivo é de 3500 euros, valor que sobe para 4000 euros no caso do segundo filho e para 4500 euros a partir do terceiro filho.

O montante é atribuído através de duas modalidades complementares: o Cheque-Bebé, pago diretamente às famílias após a aprovação da candidatura, e o Crescer+, destinado ao reembolso de despesas relacionadas com o desenvolvimento e o bem-estar da criança.

A componente Crescer+ permite comparticipar despesas com consultas e exames médicos, medicamentos, alimentação infantil, artigos de higiene e puericultura, vestuário, calçado e frequência de estabelecimentos de ensino, entre outras despesas previstas no regulamento. Para serem elegíveis, as compras e os serviços têm de ser realizados em estabelecimentos comerciais localizados no concelho de Armamar.

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The Ministry of National Economy and Finance on Thursday underscored the close cooperation between Greek authorities and their counterparts in the United States, as well as with other partners, to safeguard the integrity of the international financial system. The statement followed an announcement by the U.S. Treasury Department regarding operation Economic Outcast, which aims to […]

The post Greece enforces sanctions against Iran, says FinMin appeared first on Keep Talking Greece.

A Praia da Falésia, em Albufeira, conquistou o quarto lugar entre as melhores praias da Europa nos Readers’ Choice Awards 2026, promovidos pela edição britânica da revista “Condé Nast Traveller”. Com 94,70 pontos, é a praia portuguesa mais bem classificada numa seleção de 20 destinos europeus, baseada nas preferências dos leitores da publicação.

A praia algarvia surge atrás de Sperlonga, em Itália, da Lagoa Azul, em Malta, e de Patara, na Turquia. Portugal volta a estar representado na classificação com a Praia de Benagil, no concelho de Lagoa, que ocupa a 16.ª posição.

A edição deste ano dos prémios reuniu mais de 296 mil respostas de leitores do Reino Unido, refletindo as escolhas e experiências dos próprios viajantes.

Conhecida pelo extenso areal e pelas falésias de tons dourados e avermelhados, a Praia da Falésia é uma das paisagens mais emblemáticas de Albufeira e um dos destinos procurados por residentes e turistas ao longo do ano.

A Câmara Municipal de Albufeira considera a distinção “motivo de orgulho para o concelho” e destaca a importância de preservar o património natural que caracteriza a praia e contribui para a atratividade turística da região.

O reconhecimento surge numa altura em que o Algarve volta a destacar-se no panorama internacional. A região foi eleita Melhor Destino de Praia nos World Travel Awards 2026, distinção que conquistou pela 11.ª vez, e está também nomeada para Melhor Destino de Praia do Mundo.

O projeto “Almoço Mineiro Subterrâneo”, que propõe uma experiência gastronómica na Mina de Sal-Gema de Loulé, venceu a categoria “Turismo & Recursos Geológicos” do concurso INOVA ALGARVE + DIVERSIFICAR, promovido pelo NERA. A iniciativa, apresentada pela Tech Salt, S.A., foi distinguida a 20 de outubro, em Loulé, com um prémio monetário de 2.500 euros.

Desenvolvido em parceria com a Associação das Terras e das Gentes da Dieta Mediterrânea, o projeto combina uma visita guiada ao património geológico e mineiro com uma refeição inspirada na Dieta Mediterrânica, a cerca de 230 metros de profundidade.

A experiência pretende recriar os momentos de convívio dos antigos mineiros, aliando a gastronomia à valorização da história, das tradições e dos recursos locais. A proposta procura, assim, diversificar a oferta turística algarvia através de uma experiência que cruza património industrial, geologia e cultura gastronómica.

A distinção foi anunciada durante uma conferência dedicada à fileira dos recursos geológicos, realizada nas instalações do NERA, em Loulé. O encontro reuniu representantes de entidades regionais, académicas e empresariais para debater o contexto económico do setor e as oportunidades de inovação.

O primeiro painel contou com a participação de representantes da Região de Turismo do Algarve, da Universidade do Algarve e da Assimagra – Associação Portuguesa da Indústria dos Recursos Minerais. O programa incluiu ainda uma apresentação do designer Miguel Soeiro sobre a inovação na ligação da pedra natural a outros materiais.

O segundo painel, centrado nas boas práticas de inovação empresarial, reuniu representantes do Geoparque Algarvensis, da TECH SALT, da Geowalks and Talks, da Pedramoca e da EDM – Empresa de Desenvolvimento Mineiro, proporcionando a partilha de experiências e abordagens inovadoras no setor.

O ciclo de conferências INOVA ALGARVE + DIVERSIFICAR prossegue a 5 de novembro, com uma sessão dedicada à fileira dos citrinos. Ao longo do mês, estão ainda previstas conferências centradas na Economia do Mar e nas Plantas e Flores.

A iniciativa é organizada pelo NERA, em parceria com a Algarve Evolution, a Associação KIPT, a CCDR Algarve, a Região de Turismo do Algarve, a Tertúlia Algarvia e a Universidade do Algarve, no âmbito do projeto INOVA ALGARVE 3.0, cofinanciado pelo programa regional Algarve 2030, integrado no Portugal 2030.

Mais informações sobre os projetos finalistas e o calendário das próximas sessões estão disponíveis em https://inova-algarve.pt/ciclo-de-conferencias.

Amid stiff competition from Silicon Valley-based, AI-focused defense companies, Northrop Grumman, part of the US defense market’s ‘Big Five,’ has posted better-than-expected sales and a record order backlog of US$ 109.6 billion.

Notably, at nearly $110 billion, the company’s order backlog is nearly 1.4 times its US$78 billion market cap and equals about two and a half years of sales.

Northrop Grumman’s record backlog suggests that traditional prime contractors in the US defense-industrial complex continue to win substantial new orders even as their leadership faces increasing pressure from AI-focused defense firms such as Palantir and Anduril.

For instance, Anduril, founded in 2017, is already worth US$ 90 billion, more than Northrop Grumman’s and General Dynamics’ market caps.

Meanwhile, Palantir, founded in 2003, is already worth nearly US$480 billion, more than any of the Big Five.

Northrop Grumman’s steady sales and record US$109.6 billion backlog should reassure investors that traditional defense primes can continue to thrive alongside the rapid growth of AI-focused defense companies.

The Virginia-based defense contractor reported third-quarter revenue of US$11.12 billion, up 7% from US$10.42 billion a year earlier.

Net income rose to US$1.12 billion from US$1.10 billion a year earlier.

However, the biggest surprise came in the company’s backlog order book. The company received US$16.4 billion in net contract awards during the third quarter (Q3) of 2026, pushing its net outstanding backlog to US$109.6 billion.

A year ago, at the end of Q3 2025, the company’s backlog stood at US$91.4 billion. Since then, it has received new contracts worth US$18.2 billion.

“In a complex world with the growing need for solutions that scale and perform, our customers continue to turn to Northrop Grumman,” Chair, Chief Executive and President Kathy Warden said in the earnings announcement.

According to company filings, the company’s third-quarter contracts totaled US$16.4 billion, which included US$4.6 billion for classified programs, US$2 billion for the Sentinel intercontinental ballistic missile program, and US$1.4 billion for Virginia-class submarines.

The company also received US$1.3 billion in awards related to the F-35 fighter jet and US$1 billion for the E-2 Hawkeye airborne early warning aircraft.

The Q3 contracts show strong demand for the company’s products in fighter jets, AWACS, missiles, submarines, and space programs.

Overall, Defense Systems accounted for the largest portion of the company’s backlog at US$36.5 billion, followed by Aeronautics Systems at US$26.8 billion and Space Systems at US$26.3 billion.

Strong Demand for Northrop Grumman’s Aeronautics Systems

In Q3, Northrop Grumman reported aeronautics systems revenue of US$3.58 billion, up 14% year-on-year, and won new contracts worth over US$3 billion.

Strong aeronautics systems performance is driven by demand for the F-35 fighter jet, progress on the B-21 Raider program, maintenance work on the B-2 Spirit bomber, and work on Army helicopters such as the AH-64 Apache, CH-47 Chinook, UH-60 Black Hawk, and others.

Northrop Grumman is a principal contractor on the F-35 Lightning II program, with Lockheed Martin as the prime contractor. The company contributes roughly 25% of the aircraft and produces or supports several major structural and mission systems for all three variants – F-35A, F-35B, and F-35C.

Northrop Grumman designs and produces critical F-35 components, including the center fuselage, AN/APG-81 AESA radar, communications subsystems such as the AN/ASQ-242 Integrated Communications, Navigation, and Identification (CNI) system, and the EO/IR Distributed Aperture System.

It also leads mission systems development, pilot and maintenance training courseware, and low-observable technology support to ensure readiness and modernization across all three F-35 variants.

The company also received new contracts worth US$1.3 billion for F-35 fighter jets.

It also won contracts worth US$1 billion for the E-2 Hawkeye airborne early warning aircraft.

Northrop Grumman is the prime contractor, Original Equipment Manufacturer (OEM), and sole designer, developer, and manufacturer of the E-2 Hawkeye family, including the current E-2D Advanced Hawkeye.

Northrop Grumman is also the prime contractor for both the B-2 Spirit and the B-21 Raider.

In 2024, Northrop won a US$7 billion award for the B-2 Spirit modernization and sustainment program, including programmed depot maintenance of the fleet, sustaining engineering, software maintenance, support equipment, logistics elements, and interim contractor support.

This B-2 Spirit modernization and sustainment work continues at Palmdale, California; Whiteman Air Force Base (AFB), Missouri; Tinker AFB, Oklahoma; Wright-Patterson AFB, Ohio; Edwards AFB, California; and Hill AFB, Utah, and is expected to be completed by May 2029.

In 2015, Northrop Grumman won the Long Range Strike Bomber (LRS-B) program, also known as the B-21 Raider.

However, the US Air Force has deliberately withheld detailed pricing for the program.

Earlier this year, the USAF and Northrop agreed to expand B-21 Raider production capacity by about 25% with roughly US$4.5 billion in government funding.

A 2021 Pentagon Cost Assessment and Program Evaluation (CAPE) study estimated that developing, procuring, and operating a fleet of 100 B-21 Raider aircraft could cost about US$203 billion over the next 30 years.

In September, Northrop Grumman also won a US$4.84 billion Army contract for CIRCM (Common Infrared Countermeasure) laser-based missile defense systems to protect Army helicopters, such as the AH-64 Apache, CH-47 Chinook, UH-60 Black Hawk, and others, from infrared-guided missiles. The program will run through 2035.

Another critical program is Northrop’s role in the Sentinel missile program, a key part of the US Nuclear triad.

In the third quarter, the company won a US$2 billion contract for the Sentinel intercontinental ballistic missile program.

Northrop Grumman is the prime contractor for the LGM-35A Sentinel program, also known as the Ground Based Strategic Deterrent (GBSD).

Under the program, Northrop will design and produce a new three-stage solid-propellant ICBM with improved range, accuracy, reliability, and modularity compared with Minuteman III.

It will also construct hundreds of new or heavily modernized hardened launch silos and related facilities across multiple states, and new nuclear command-and-control networks. Sentinel will provide the US with on-alert nuclear deterrence through 2075.

Northrop Grumman is also a major supplier and Original Equipment Manufacturer (OEM) for key components on Virginia-class submarines. It won a US$1.4 billion contract in Q3 for the Virginia-class submarines.

Northrop also plays an important role in the Patriot missile defense system. It supplies the solid rocket motors, ignition safety devices, and related propulsion elements for PAC-3 MSE missiles.

Patriot interceptors are in global demand due to the two ongoing wars in Ukraine and the Middle East.

In August, the Department of War (DoW) signed framework agreements worth US$3 billion for expanding Patriot interceptor missile production.

The contract allocates nearly US$2 billion for solid rocket motors and ignition safety devices, in which Northrop will play a key role.

Northrop is also the prime contractor for the Integrated Battle Command System (IBCS), which integrates Patriot with other air- and missile-defense assets.

The company is also executing many of the USAF’s classified space-segment programs.

Many of these contracts, such as the B-21 Raider, F-35, Sentinel, and Patriot PAC-3 MSE interceptors, will run for decades, providing Northrop with a steady source of income. However, execution risk remains.

Demand for many of the company’s products, such as aircraft, missiles, and space systems, remains strong; however, investors’ key question is whether Northrop can turn its record US$109.6 billion backlog order book into improved margins and earnings.

• Sumit Ahlawat has over a decade of experience in news media. He has worked with Press Trust of India, Times Now, Zee News, Economic Times, and Microsoft News. He holds a Master’s Degree in International Media and Modern History from The University of Sheffield, UK. 
• He can be reached at ahlawat.sumit85 (at) gmail.com

The post Northrop Wins Fresh F-35, B-21, Sentinel & Virginia-Class Work as Backlog Hits Record $110 Billion appeared first on EURASIAN TIMES.

Russia launched 21 ballistic missiles against Kyiv in three successive waves overnight on 21–22 October, striking residential buildings, energy facilities and transport infrastructure just hours after President Vladimir Putin held peace negotiations with US presidential envoy Steve Witkoff in St Petersburg.

Ukrainian President Volodymyr Zelenskyy confirmed on Thursday morning that at least two people had been killed and 34 injured, including five children, in Russian attacks affecting 12 Ukrainian regions. The capital sustained extensive damage, with strikes reported against railway and metro infrastructure, shopping centres, industrial premises and a monastery.

The bombardment followed a three-hour meeting between Witkoff and Putin on Wednesday, during which the Russian president indicated his willingness to resume trilateral negotiations involving Moscow, Washington and Kyiv. The Russian attacks continued despite the diplomatic initiative, prompting Zelenskyy to call for renewed international pressure on the Kremlin.

Kyiv Under Three Waves of Ballistic Missiles

In a statement published on Telegram, Zelenskyy said Russian forces had launched three waves of ballistic missiles against the Ukrainian capital, causing numerous direct hits and widespread destruction.

The Ukrainian president referred sarcastically to Russia’s supposed humanitarian intentions, an apparent reference to Witkoff’s description of Putin as a humanitarian during their meeting the previous day.

Emergency services were deployed across several districts of Kyiv, where residential and commercial buildings suffered damage. Part of the capital’s metro infrastructure on the Southern Bridge was affected, disrupting traffic, while a strike on an ambulance station in the Pecherskyi district damaged six emergency vehicles. No medical personnel were injured at that location.

According to Ukrainian military and emergency service reports, the overnight assault also involved 210 attack drones and several types of missiles, including Iskander-M, S-400, Zircon and Oniks weapons.

By Thursday morning, Ukrainian air defences had intercepted or suppressed 181 drones. Russian weapons struck 32 locations, while debris from intercepted drones fell at eight others.

The assault followed several consecutive days of Russian attacks against Kyiv, including earlier strikes on hospitals, residential buildings and the capital’s transport network.

Witkoff’s Meeting with Putin

The timing of the latest bombardment placed renewed scrutiny on Washington’s diplomatic engagement with Moscow.

On 21 October, Witkoff met Putin at the Konstantin Palace in St Petersburg, accompanied by Russian officials, including Kirill Dmitriev, the Kremlin’s representative for international economic cooperation. The discussions lasted approximately three hours.

The meeting followed talks in Oslo on 20 October, where Witkoff and Jared Kushner met Zelenskyy alongside Norwegian Prime Minister Jonas Gahr Støre and Finnish President Alexander Stubb.

Following the St Petersburg meeting, Witkoff described the discussions as constructive and indicated that negotiations would continue at the technical level between representatives of the United States, Russia and Ukraine.

Putin reportedly expressed agreement in principle to restarting trilateral negotiations, potentially during the first half of November. However, no agreement on a ceasefire or suspension of Russian attacks was announced.

The meeting also attracted controversy after Witkoff praised Putin as a humanitarian following the release of Stephen Hubbard, a 74-year-old American citizen who had been detained in Russia for more than four years.

The remarks prompted criticism from Republican lawmakers in Washington, who questioned the characterisation of the Russian president while Moscow continued its military campaign against Ukraine.

Zelenskyy Calls for Pressure Rather Than Diplomatic Concessions

Zelenskyy characterised the overnight missile attack as evidence that Russia’s participation in negotiations had not produced any substantive change in its conduct.

He argued that diplomatic efforts to end the war should continue but must be accompanied by measures capable of altering Moscow’s military calculations.

Those measures, according to the Ukrainian president, include stronger air defence capabilities, faster deliveries of interceptor missiles, the ability to destroy Russian ballistic missile launchers and continued economic sanctions.

The latest attacks also place Ukraine’s air defence requirements firmly within the ongoing negotiations with Washington. Kyiv has repeatedly sought additional Patriot missiles and more reliable advance warning of Russian ballistic launches, particularly as repeated strikes place increasing demands on its interception capabilities.

For the Trump administration, the immediate question is whether Russia’s stated willingness to negotiate can produce verifiable commitments to reduce hostilities.

The Kremlin has offered the prospect of further talks without announcing a halt to its offensive operations. Kyiv, meanwhile, continues to face missile and drone attacks against civilian infrastructure even as discussions concerning a possible settlement proceed.

The events of 21–22 October leave Washington’s diplomatic initiative moving forward against the background of an expanding Russian aerial campaign, with no indication that Moscow intends to suspend its attacks while negotiations continue.

A CCDR Algarve, em parceria com o Município de Loulé, promove no dia 13 de novembro a conferência «Resíduos: Um Futuro Urgente», no Auditório Teresa Gamito da Universidade do Algarve, Campus de Gambelas.

A iniciativa reúne representantes da administração pública, dos municípios, das universidades, de entidades gestoras e de empresas e especialistas do setor com o objetivo de refletir sobre os desafios da gestão de resíduos e identificar abordagens e estratégias que
contribuam para a sustentabilidade ambiental e para a promoção da economia circular.

O programa organiza-se em torno de dois eixos temáticos. O primeiro, dedicado aos resíduos urbanos, destaca a apresentação de boas práticas nacionais e os desafios específicos no Algarve. O segundo, centrado nos resíduos não urbanos, aborda experiências inovadoras no domínio da economia circular, da valorização de resíduos e da promoção de práticas sustentáveis.

A participação é gratuita, mediante inscrição prévia aqui.

O programa completo pode ser consultado na imagem abaixo.

Olhão recebeu, a 19 e 20 de outubro, o 3.º Encontro Transfronteiriço do projeto INNOVASOCIAL AAA, que juntou entidades portuguesas e espanholas para promover a cooperação, a partilha de experiências e a inovação no setor da economia social.

A iniciativa foi promovida pela Tertúlia Algarvia e pela Associação In Loco, com a colaboração do Município de Olhão, no âmbito de um projeto europeu que pretende reforçar a economia social e contribuir para a inclusão, a igualdade de oportunidades e o desenvolvimento sustentável nos territórios do Alentejo, Algarve e Andaluzia.

O projeto é cofinanciado pela União Europeia, através do Programa Interreg VI-A Espanha–Portugal (POCTEP) 2021-2027.

European Union negotiators have reached a provisional agreement to revise the rules governing the bloc’s carbon market, increasing the number of emissions allowances that can remain in reserve before being permanently cancelled.

The agreement, reached by the Council and European Parliament on 20th October and announced the following day, raises the invalidation threshold of the EU Emissions Trading System’s market stability reserve from 400 million to 700 million allowances.

The compromise reached by EU negotiators follows months of pressure from energy-intensive industries concerned about carbon prices, electricity costs and competition from manufacturers operating under less restrictive environmental regimes.

The measure requires formal approval before entering into force and forms part of a wider review of the EU’s principal carbon-pricing mechanism.

A larger reserve for future market disruptions

Established in 2019, the market stability reserve was designed to address the accumulation of surplus emissions allowances that had weakened the effectiveness of Europe’s carbon market.

Under the Emissions Trading System, companies in covered sectors must surrender allowances corresponding to their greenhouse gas emissions. The total quantity available is progressively reduced, creating a financial incentive to cut emissions.

The reserve adjusts the supply of allowances entering the market, withdrawing them when there is a substantial surplus and releasing them under specified conditions when supply becomes scarce.

Existing rules also provide for the permanent cancellation of allowances held above a threshold of 400 million.

Under the new agreement, that threshold would increase to 700 million, allowing a larger stock to remain available for potential future release.

The change does not automatically introduce 300 million additional allowances into circulation. Releases would continue to depend on the reserve’s operating rules and market conditions.

According to the Council, more than three billion allowances have been invalidated since the mechanism began operating in 2023.

The Commission initially proposed ending automatic invalidation indefinitely, while the Council’s September negotiating position envisaged a temporary suspension followed by a higher threshold.

The compromise retains invalidation but increases the amount protected from cancellation.

Industry competitiveness enters climate negotiations

The agreement follows growing concern about the cumulative cost of European climate regulation, particularly for steelmaking, chemicals, cement and other energy-intensive sectors. Manufacturers have warned that carbon costs, combined with relatively expensive electricity and industrial gas, complicate investment decisions and weaken their ability to compete internationally.

Brussels must also consider the consequences of production shifting to jurisdictions with lower emissions-related costs, a phenomenon known as carbon leakage. Earlier this year, EU Today examined the Commission’s consideration of changes to industrial protections under the ETS, including the relationship between free allowances and the Carbon Border Adjustment Mechanism.

The latest reserve agreement does not directly change the allocation of free allowances, the emissions cap or the obligations imposed on individual industrial installations. Its principal effect would be to preserve a larger buffer that could become available if future market conditions trigger the release mechanism.

For manufacturers planning investments extending into the 2030s, the availability of allowances and the future trajectory of carbon prices influence production costs and the commercial case for decarbonisation technologies.

Carbon market figures reveal changing conditions

The European Commission reported in May that the total number of allowances in circulation during 2025 stood at approximately 1.023 billion.

Its annual market stability reserve calculation provided for approximately 190.5 million allowances to be withdrawn from auctions between September 2026 and August 2027.

These withdrawals reflect the existing mechanism for reducing market surpluses. The proposed higher invalidation threshold concerns how many allowances can subsequently remain in reserve rather than being cancelled.

The overall emissions cap will continue to decline under the legislation already governing the ETS.

Consequently, preserving a larger reserve does not remove the long-term constraint on emissions or guarantee lower carbon prices for European industry.

The agreement also concerns the established ETS covering power generation, industry and certain other sectors, rather than the separate ETS2 regime for emissions associated with road transport and buildings.

The latter has generated its own political controversy, as EU Today reported following the October European Council summit.

Broader ETS reform remains unresolved

The Council and Parliament have agreed that the question of gradually reducing the invalidation threshold should be considered during the broader ETS review.

That exercise will address the carbon market’s operation over a longer period, when the declining supply of allowances could create tighter conditions.

The present agreement therefore provides an adjustment to the reserve mechanism without reopening the entire emissions trading framework. Following legal and technical finalisation, the provisional deal must be endorsed by both institutions and formally adopted.

The new 700 million threshold would apply after the legislation takes effect, while the larger review of the ETS continues through the EU legislative process.

The European Union has reached a provisional agreement on reforms to its securitisation framework, potentially allowing banks to release more capital for lending to businesses, households and infrastructure projects.

The agreement, announced on Wednesday, 21st October, follows negotiations between the Council and European Parliament over changes to prudential requirements and the regulation governing securitised financial products.

The reform package agreed by EU negotiators would reduce capital requirements for lower-risk transactions, introduce a new category of resilient securitisations and simplify administrative procedures for financial institutions and investors.

It forms part of the EU’s Savings and Investments Union initiative, which aims to channel more private capital into the European economy.

Banks offered greater flexibility

Securitisation allows banks and other lenders to combine financial assets, including mortgages, consumer credit and corporate loans, into securities that can be purchased by investors.

By transferring some of the financial risks associated with these assets, banks can reduce the amount of regulatory capital they are required to maintain against particular exposures.

This can increase their capacity to extend new loans, although it does not guarantee that additional lending will follow.

The provisional agreement would recalibrate capital requirements according to the risk of individual transactions.

Lower-risk securitisations would receive more favourable treatment, while higher capital requirements would continue to apply to riskier structures.

A new category of resilient securitisations would be introduced alongside the existing framework for simple, transparent and standardised transactions, commonly known as STS securitisations.

The agreement would also strengthen supervision of independent organisations responsible for verifying compliance with the STS criteria.

The Council said that third-party verifiers would become subject to EU-level supervision, with the aim of improving consistency across national markets.

European financial markets remain fragmented

The reforms address a long-standing concern that European banks face higher administrative and capital costs for securitisation than competitors operating under other regulatory systems.

Following the financial crisis of 2008, European authorities introduced tighter rules governing structured financial products, including restrictions intended to improve transparency and ensure that lenders retained appropriate exposure to credit risks.

The resulting framework, which began applying in 2019, strengthened investor protection but also increased compliance costs.

The European Commission proposed the latest review in June 2025, arguing that the existing arrangements had constrained the development of securitisation as a financing tool.

According to the Association for Financial Markets in Europe, approximately €252.3 billion in securitised products was issued across Europe in 2025, with €156.3 billion placed with investors.

Those figures cover the wider European market, including activity outside the EU.

Brussels regards the development of deeper financial markets as necessary to finance infrastructure, technological investment and industrial development.

As EU Today previously reported, the EU’s largest economies have also been examining proposals to strengthen supervision and reduce fragmentation across European capital markets.

Will banks lend more to businesses?

The potential benefits of securitisation are not automatic.

Research published by economists on the European Central Bank’s website in September 2026 found that banks using synthetic securitisation increased corporate lending only modestly, while also distributing more capital to shareholders.

Synthetic securitisation allows banks to transfer credit risk to investors without necessarily removing the underlying loans from their balance sheets.

The researchers found that a one per cent increase in synthetic securitisation issuance was associated with an increase of approximately 0.02 per cent in corporate loan growth.

Their findings also indicated that banks participating in the synthetic securitisation market made greater use of capital released through these transactions to increase dividend payments.

The study suggests that easing capital requirements alone may not generate the substantial expansion in business lending envisaged by European policymakers.

Credit demand, economic conditions and banks’ commercial decisions will also influence whether the reforms produce measurable increases in investment financing.

Broader investment rules to change

The provisional agreement includes additional measures intended to encourage participation by institutional investors.

Investment limits for certain regulated funds, known as UCITS, would be increased, while targeted changes would allow insurers and reinsurers greater participation in specified synthetic securitisation transactions.

The package also seeks to facilitate securitisation arrangements used to finance infrastructure projects before they become operational.

Together, these provisions could widen the investor base and make financing structures available to a broader range of businesses and projects.

However, transferring credit exposure between banks and investors does not eliminate the underlying risk.

If borrowers default or the financial institutions providing protection encounter difficulties, losses may still emerge within the wider financial system.

European regulators will therefore have to assess whether the new classification and supervisory arrangements adequately reflect the risks of different securitisation products.

The political agreement now requires legal finalisation and formal approval by the Council and European Parliament.

The new arrangements would then form part of the EU’s wider programme to strengthen financial markets and reduce barriers to investment across the single market.

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