Gatwick AG Receives UAE Corporate Service Provider (“CSP”) License

HONG KONG / ACCESSWIRE / March 24, 2023 / Hong Kong based consulting firm Gatwick AG (www.gatwicklaw.com) has secured its CSP license in the Ras Al Khaimah free trade zone in the UAE. This license grants Gatwick AG the permission to provide corporate, legal and accounting services to its clients.

Related Image

The approval is part of the ongoing effort of the company to expand its business Internationally and penetrate new attractive markets for the company. In February 2023, the company has set up a local entity and opened an office inthe UAE and is currently operational in the Middle East region.

In 2023, the company plans further expansion into the African market to bolster coverage of emerging markets. At the same time, Gatwick AG plans to expand its licensing portfolio and seek further CSP licenses across its target company formation jurisdictions.

More information on the company

Gatwick Advisory Group is an International consulting firm specializing in assisting high risk companies in the crypto, fintech andgambling industries with bank account opening, licensing and international business expansion. At this stage, Gatwick Group has over 100+ partner banks and offer company formation/maintenance services in Europe andoffshore jurisdictions.

Primary contact: dragan.doganzic@gatwicklaw.com
Company website: www.gatwicklaw.com
Hong Kong Office Contact number: +852 3750 7706
UAE office Contact number: +971 (0) 4 319 7526

SOURCE: Gatwick HK Limited

ROSEN, A GLOBAL AND LEADING LAW FIRM, Encourages TAL Education Group Investors to Inquire About Securities Class Action Investigation – TAL

NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of TAL Education Group (NYSE: TAL) resulting from allegations that TAL Education may have issued materially misleading business information to the investing public.

SO WHAT: If you purchased TAL Education securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. The Rosen Law Firm is preparing a class action seeking recovery of investor losses.

WHAT TO DO NEXT: To join the prospective class action, go to https://rosenlegal.com/submit-form/?case_id=3137 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

WHAT IS THIS ABOUT: On March 14, 2023, Seeking Alpha published an article entitled “TAL Education, Chinese ed-tech stocks slump on crackdown fears.” The article discussed how “Chinese media reports indicated the company may have flouted government regulations.” In addition, the article stated “TAL subsidiary Xueersi restarted courses that run counter to conventions put in place by Xi Jinping’s Common Prosperity drive. Specifically, courses were restarted in subjects like mathematics and English under the guise of permitted tutoring outside of core subjects. Under the ‘Double Reduction Policy’, tutoring in core subjects must be offered as a strictly non-profit business.”

On this news, TAL Education’s American depositary shares (ADS) price fell 10% to close at $6.12 per ADS on March 14, 2023.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8795207

ROSEN, A LONGSTANDING LAW FIRM, Encourages Alphabet Inc. Investors to Secure Counsel Before Important Deadline in Securities Class Action – GOOG, GOOGL

NEW YORK, March 24, 2023 (GLOBE NEWSWIRE) — WHY: Rosen Law Firm, a global investor rights law firm, announces the filing of a class action lawsuit on behalf of purchasers of securities of Alphabet Inc. (NASDAQ: GOOG, GOOGL), the parent company of Google, between February 4, 2020 and January 23, 2023, both dates inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2023.

SO WHAT: If you purchased Alphabet securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Alphabet class action, go to https://rosenlegal.com/submit-form/?case_id=13312 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than May 15, 2023. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Alphabet used its dominance in the field of digital advertising to disadvantage website publishers and advertisers who used competing advertising products; (2) the foregoing conduct was anticompetitive in nature and likely to draw significant regulatory scrutiny; (3) Alphabet’s revenues were unsustainable to the extent that they were the product of said anticompetitive conduct; (4) Alphabet’s conduct, once revealed, would negatively impact the Company’s reputation and expose it to a heightened risk of litigation and regulatory enforcement action; and (5) as a result, the Company’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Alphabet class action, go to https://rosenlegal.com/submit-form/?case_id=13312 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email pkim@rosenlegal.com or cases@rosenlegal.com for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

——————————

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
lrosen@rosenlegal.com
pkim@rosenlegal.com
cases@rosenlegal.com
www.rosenlegal.com

GlobeNewswire Distribution ID 8795198

Olymp Trade Launches Ramadan Charity Campaign

The goal is to provide food to 3,000 families in need

ST. VINCENT AND THE GRENADINES – Media OutReach – 24 March 2023 – Olymp Trade, a trading platform with over 80 million user accounts, is launching a Ramadan charity campaign under the motto Every 1 Counts. This event is in line with Olymp Trade’s belief that trading can go beyond making a personal profit.

Between March 13 and April 22, the charity campaign participants will trade to assemble food baskets for families suffering from food insecurity. The rules are simple: For every 100 trades made during the campaign, Olymp Trade will sponsor one food basket with over 10 kg of shelf-stable foods, including rice, sugar, spices and dates.

The campaign’s goal is to raise funds for 3,000 food baskets and provide disadvantaged families with tasty and nutritious meals. One trade, one action, one more person involved — from these simple numbers comes a massive contribution to the common goal.

Every 1 Counts will be held in close partnership with the Misr El Kheir Foundation (MEK), a well-known Egyptian non-profit. Since 2007, this NGO has been working towards sustainable human development. Among its key areas of focus are health, education and human solidarity. The mission of the Misr El Kheir Foundation is to reduce poverty, illiteracy, disease and unemployment.

Once the charity campaign is over, the donation will be sent to the Misr El Kheir Foundation, who will then use the funds to assemble food baskets. The aid will be distributed to the beneficiaries during a special offline event.

According to an Olymp Trade representative, Every 1 Counts pursues more than one goal:

“Our main objective is to provide nutritious food to those in need. However, it’s important to remember that Ramadan meals also have an important social function, bringing families together and strengthening community ties.”

Because of this, campaigns like Every 1 Counts benefit communities not just in practical ways, but also socially. It’s an excellent opportunity for Olymp Traders to do more good during this holy month.

‫Olymp Trade تطلق حملة رمضان الخيرية

الهدف هو توفير الغذاء لـ 3,000 أسرة محتاجة

تطلق Olymp Trade، وهي منصة تداول تضم أكثر من 80 مليون حساب مستخدم، حملة خيرية رمضانية تحت شعار كل فرد مهم. يتماشى هذا الحدث مع إيمان Olymp Trade بأن التداول يمكن أن يتجاوز مجرد تحقيق الربح الشخصي.

بين 13 مارس و 22 أبريل، سيتداول المشاركون في الحملة الخيرية لتجميع سلال الطعام للعائلات التي تعاني من انعدام الأمن الغذائي. القواعد بسيطة: مقابل كل 100 صفقة يتم إجراؤها خلال الحملة، ستوفر Olymp Trade سلة طعام واحدة تحتوي على أكثر من 10 كجم من الأطعمة الجافة، مثل الأرز والسكر والتوابل والتمر.

تهدف الحملة إلى جمع الأموال لتوفير  3,000 سلة طعام وتزويد الأسر المحتاجة بوجبات لذيذة ومغذية. صفقة واحدة، عمل واحد، شخص واحد أكثر مشترك — من هذه الأرقام البسيطة تأتي المساهمة الضخمة في الهدف المشترك.

سيتم تنظيم “كل فرد مهم” بالشراكة مع مؤسسة مصر الخير (MEK)، وهي منظمة غير ربحية مصرية مشهورة. منذ عام 2007، تعمل هذه المنظمة غير الحكومية على تحقيق التنمية البشرية المستدامة. ومن بين مجالات اهتماماتها الرئيسية الصحة والتعليم والتضامن الإنساني. تتمثل مهمة مؤسسة “مصر الخير” في الحد من الفقر والأمية والمرض والبطالة.

بمجرد انتهاء الحملة الخيرية، سيتم إرسال التبرع إلى مؤسسة مصر الخير، التي ستستخدم الأموال بعد ذلك لتجميع سلال الطعام. سيتم توزيع المساعدات على المستحقين خلال حدث خاص خارج الإنترنت.

وفقًا لممثل Olymp Trade، فإن “كل فرد مهم” تسعى إلى تحقيق أكثر من هدف واحد

:”هدفنا الرئيسي هو توفير الطعام المغذي للمحتاجين. ومع ذلك، من المهم أن نتذكر أن وجبات رمضان لها أيضًا وظيفة اجتماعية مهمة، ألا وهي تجميع العائلات معًا وتعزيز الروابط الاجتماعية”.

ولهذا السبب، فإن حملات مثل “كل فرد مهم” تفيد المجتمعات ليس فقط بطرق عملية، ولكن أيضًا اجتماعيًا. إنها فرصة ممتازة لمتداولي Olymp Trade لتقديم المزيد من الخير خلال هذا الشهر الفضيل.

Nyxoah Announces a $15 Million Private Placement Financing

INSIDE INFORMATION
REGULATED INFORMATION

Nyxoah Announces a $15 Million Private Placement Financing

Mont-Saint-Guibert, Belgium – March 23, 2023, 9:05pm CET / 4:05pm ET – Nyxoah SA (Euronext Brussels/Nasdaq: NYXH) (“Nyxoah” or the “Company”), a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA), today announced a €13.35 million private placement financing from the sale of 2,047,544 new ordinary shares at a price per share of €6.52 (approximately U.S. $7.10 at current exchange rates), the closing price on Euronext Brussels on March 23, 2023. Gross proceeds total €13.35 million (approximately U.S. $15 million at current exchange rates) and will be used for general corporate purposes. The closing is expected to occur on or about March 30, 2023, subject to customary closing conditions.

The private placement financing includes historical Nyxoah shareholders, notably ResMed and Robert Taub, Nyxoah’s Founder and Chairman.

The ordinary shares are being sold in a private placement and have not been registered under the Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state.

About Nyxoah
Nyxoah is a medical technology company focused on the development and commercialization of innovative solutions to treat Obstructive Sleep Apnea (OSA). Nyxoah’s lead solution is the Genio® system, a patient-centered, leadless and battery-free hypoglossal neurostimulation therapy for OSA, the world’s most common sleep disordered breathing condition that is associated with increased mortality risk and cardiovascular comorbidities. Nyxoah is driven by the vision that OSA patients should enjoy restful nights and feel enabled to live their life to its fullest.

Following the successful completion of the BLAST OSA study, the Genio® system received its European CE Mark in 2019. Following the positive outcomes of the BETTER SLEEP study, Nyxoah received CE mark approval for the expansion of its therapeutic indications to Complete Concentric Collapse (CCC) patients, currently contraindicated in competitors’ therapy. Additionally, the Company is currently conducting the DREAM IDE pivotal study for FDA and U.S. commercialization approval.

For more information, please visit http://www.nyxoah.com/.

Caution – CE marked since 2019. Investigational device in the United States. Limited by U.S. federal law to investigational use in the United States.

ADDITIONAL INFORMATION

The following information is provided pursuant to Article 7:97 of the Belgian Companies and Associations Code. The new shares were offered pursuant to a private placement. The investors that purchase the shares include, among others, (either directly or through entities controlled by them) Robert Taub, who is the chairman of the board of directors, and Jürgen Hambrecht, who is an independent director. Together, those two investors purchase new shares for EUR 5.6 million in gross proceeds at an issue price equal to the closing price on Euronext Brussels on March 23, 2023.

As Robert Taub and Jürgen Hambrecht qualify as related parties of the Company, the board of directors applied the related parties procedure of article 7:97 of the Belgian Companies and Associations Code in connection with the participation of the aforementioned directors to the private placement. Within the context of the aforementioned procedure, prior to resolving on the private placement, a committee of three independent directors of the Company (the “Committee”) issued an advice to the board of directors in which the Committee assessed the participation of the two aforementioned investors in the private placement. In its advice to the board of directors, the Committee concluded the following: “Based on the information provided, the Committee considers that the proposed Transaction is in line with the strategy pursued by the Company, will be done on market terms, and is unlikely to lead to disadvantages for the Company and its shareholders (in terms of dilution) that are not sufficiently compensated by the advantages that the Transaction offers the Company”.

The Company’s board of directors approved the principle of the private placement and did not deviate from the Committee’s advice. The Company’s statutory auditor’s assessment of the Committee’s advice and the minutes of the meeting of the Company’s board of directors, is as follows: “Based on our limited review, performed in accordance with ISRE 2410 “Review of interim financial information performed by the independent auditor of the entity” and the applicable standards of the “Institut des Réviseurs d’Entreprises/Instituut der Bedrijfsrevisoren”, nothing has come to our attention that causes us to believe that the financial and accounting data contained in the minutes of the board of directors’ meeting of March 23, 2023 and in the report of the committee of independent directors in accordance with article 7: 97 of the Companies and Associations Code would contain material inconsistencies with the information available to us in the course of our engagement. However, we do not express an opinion on the value of the transaction or on the appropriateness of the decision of the board of directors”.

IMPORTANT INFORMATION

THIS ANNOUNCEMENT IS NOT FOR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN ANY JURISDICTION WHERE TO DO SO WOULD BE PROHIBITED BY APPLICABLE LAW. THIS ANNOUNCEMENT IS FOR GENERAL INFORMATION ONLY AND DOES NOT FORM PART OF ANY OFFER TO SELL OR PURCHASE, OR THE SOLICITATION OF ANY OFFER TO SELL OR PURCHASE, ANY SECURITIES. THE DISTRIBUTION OF THIS ANNOUNCEMENT AND THE OFFER, SUBSCRIPTION, SALE AND PURCHASE OF SECURITIES DESCRIBED IN THIS ANNOUNCEMENT IN CERTAIN JURISDICTIONS MAY BE RESTRICTED BY LAW. ANY PERSONS READING THIS ANNOUNCEMENT SHOULD INFORM THEMSELVES OF AND OBSERVE ANY SUCH RESTRICTIONS.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements that are not statements of historical facts are, or may be deemed to be, forward-looking statements. Such forward-looking statements may be identified by words such as “expects,” “potential,” “could,” or similar expressions that are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements include express or implied statements relating to, among other things, Nyxoah’s current expectations regarding the Genio® system; planned and ongoing clinical studies of the Genio® system; the potential advantages of the Genio® system; Nyxoah’s goals with respect to the development, regulatory pathway and potential use of the Genio® system; the utility of clinical data in potentially obtaining FDA approval of the Genio® system; the Company’s results of operations, financial condition, liquidity, performance, prospects, growth and strategies; and statements relating to the private placement, including the expected closing, the anticipated proceeds from the private placement and the use thereof. These statements are neither promises nor guarantees and are subject to a variety of risks and uncertainties, many of which are beyond Nyxoah’s control, which could cause actual results to differ materially from those contemplated in these forward-looking statements. In particular, these risks and uncertainties include, without limitation, risks relating to market conditions and the Company’s inability, or the inability of the investors, to satisfy the conditions for the closing in the private placement. Given these uncertainties, the reader is advised not to place any undue reliance on such forward-looking statements. Other risks and uncertainties faced by Nyxoah include those identified under the heading “Risk Factors” in Nyxoah’s most recent Annual Report on Form 20-F filed with the SEC, as well as subsequent filings and reports filed with the SEC. The forward-looking statements contained in this press release reflect Nyxoah’s views as of the date hereof, and Nyxoah does not assume and specifically disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.

Contacts:
Nyxoah
David DeMartino, Chief Strategy Officer
david.demartino@nyxoah.com
+1 310 310 1313

Attachment

GlobeNewswire Distribution ID1000799916

French DIY giant to exit Russia

French home improvement chain Leroy Merlin is transferring its business in Russia to local management, parent company ADEO announced on Friday.

ADEO began preparations for the move several months ago to comply with international regulations, a press release stated. It added that the transaction will be subject to approval by the relevant authorities in Russia.

“After more than 18 years of activity in Russia, transferring control of Leroy Merlin to the local management should preserve the jobs of the 45,000 employees and ensure that the company’s activity remains at the service of the inhabitants,” the company said.

Russia’s Ministry of Industry and Trade described Leroy Merlin’s decision as “rational” and promised to provide assistance, RIA Novosti reported.

The Leroy Merlin chain has over 100 stores in more than 60 Russian cities, and the retailer is one of the 10 largest trading companies in the country.

Source: Russia Today

Ryan Hart: Esports champion on why gaming can be ‘like a musical instrument’

Ryan Hart is a five-time Guinness World Record holder and multiple world champion who has spent more than two decades competing in combat tournaments around the world.

The 44-year-old speaks of “destroying” opponents, leaving them “mentally broken” with defeats that can “haunt for weeks, months, even years”.

But Hart’s battles are not physical – he is a champion in fight-based video games.

And while he happily admits he wouldn’t fancy his chances inside the Octagon with an MMA champion, he would certainly back himself with a controller in hand.

“It’s about being cunning, sly, using skulduggery,” he says.

“Hand-to-hand combat isn’t different, apart from the physical training. The matches are 90% cerebral.

“It’s like a musical instrument. You might have a tune in your head, but if your hands don’t know how to utilise the strings on a guitar – how to combine the snare drum and bass drum on a drumkit – it doesn’t matter.

“You might have the knowledge, but if you can’t translate that, it won’t work. The MMA champion, they’ll fall short because they don’t have the physical know-how on the controller to utilise the moves to get out the strategy that they want to deliver.”

Speaking to 5 Live’s Winners Enclosure, Hart said things can get pretty heated in gaming battles.

“Just like in boxing or UFC, you have serious rivalries,” he said. “People don’t like each other. Some of the beefs are really serious.”

Hart’s love for video games blossomed during the 1990s, when he played Street Fighter. Gaming gave him solace during some turbulent formative years – and helped him to “weather the storm”.

“I grew up without a dad,” he says. “I was alone a lot of the time. I found myself in all kinds of difficult situations.”

Hart won his first major tournament – the King of Fighters UK Championship – in 1996. He successfully defended the title a year later, but around that time he also had a period of homelessness.

“Juggling those two lives was very, very challenging,” he says. “It was a very, very dark place I was entering into – a life of solitude, very difficult to manage.”

Hart kept working, and in 1998 travelled to Japan to play in a competitive gaming competition. He won his first World Championship in Japan in 1998 and went on to win his second World Championship for Tekken 3 in 1999.

“I’d never had a passport in my life,” he says. “I was on a plane going to Tokyo, 18 years of age. I didn’t speak a word of Japanese.

“It was just such a surreal experience. It was crazy. On day one, there were 12 reporters outside waiting to interview me. I had no idea about this following I had.”

Though overseas success was not instant, Hart did win the King of Fighters 1998 World Championship in Japan.

Indeed, between 1995 and 2018 he racked up an incredible number of titles.

He holds five Guinness World Records, including most consecutive opponents on Street Fighter V, most tournament wins for different fighting games and most countries tournaments have been won in. He has numerous national, European and world titles, and is a two-time winner of the Evolution Championship Series – an esports event that focuses exclusively on fighting games.

Hart became a pro gamer in 2009, playing for a team – the Low Land Lions – for the first time.

Prior to that, he funded all of his own travel and accommodation for tournaments.

These days, he is Twitch partner, commentator, pro player and Creative Production Editor at ESL – the world’s largest esports organisation in a sector expected to be worth $1.9bn (£1.4bn) by 2025.

That wasn’t always the case, of course.

“Back in the 90s/noughties, it wasn’t established as a full-time career,” he says.

“You used to get laughed out of the room if you said you got paid to play video games.”

Source: BBC

Data act: member states agree common position on fair access to and use of data

With a view to making the EU a leader in our data-driven society, member states’ representatives (Coreper) reached a common position (“negotiating mandate”) allowing the Council to enter negotiations with the European Parliament on the proposed legislation regarding harmonised rules on fair access to and use of data (data act).

Erik Slottner, Swedish minister for public administration

Today’s agreement will facilitate the digital transformation of our societies and economies. The data act will unlock the economic and societal potential of data and technologies in line with EU rules and values. It will contribute to creating a single market to allow data to flow freely within the EU and across sectors for the benefit of businesses, researchers, public administrations, and society at large.

Erik Slottner, Swedish minister for public administration

The data act will give both individuals and businesses more control over their data through a reinforced portability right, copying or transferring data easily from across different services, where the data are generated through smart objects, machines, and devices. The new legislation will empower consumers and companies by giving them a say on what can be done with the data generated by their connected products.

Main issues maintaining the general thrust of Commission’s proposal

The regulation proposes new rules on who can use and access data generated in the EU across all economic sectors. It aims to ensure fairness in the digital environment, stimulate a competitive data market, open opportunities for data-driven innovation and make data more accessible to all.

The proposal also aims to ease the switching of providers of data processing services, puts in place safeguards against unlawful data transfer by cloud service providers and provides for the development of interoperability standards for data to be reused between sectors.

The Council’s common position maintains the general thrust of the Commission’s proposal, namely as regards:

measures to allow users of connected devices, ranging from smart home appliances to smart industrial machinery, to gain access to data generated by them, which is often exclusively harvested by manufacturers

measures to prevent abuse of contractual imbalances in data sharing contracts due to unfair contractual terms imposed by a party with significantly stronger bargaining position

means for public sector bodies to access and use data held by the private sector that is necessary in exceptional circumstances, particularly in case of a public emergency, such as floods and wildfires, or to implement a legal mandate if data are not otherwise available

new rules allowing customers to effectively switch between different cloud data-processing service providers and putting in place safeguards against unlawful data transfer

Main amendments to the Commission’s proposal

The Council’s text amends various parts of the Commission’s proposal, including on the following aspects:

a clearer definition of the scope of the regulation, especially with regard to Internet of Things (IoT) data, where focus was moved to the functionalities of the data collected by connected products instead of the products themselves

some clarifications on the interplay between the data act and existing horizontal and sectoral legislation, such as the data governance act and the general data protection regulation (GDPR)

the protection of trade secrets and intellectual property rights, accompanied by appropriate safeguards against abusive behaviour

additional guidance with regard to reasonable compensation for making the data available and dispute settlement mechanisms

some fine-tuning on data sharing requests by public sector bodies based on exceptional needs

clearer and more widely applicable provisions with regard to effective switching between data processing services

Next steps

Today’s agreement on the Council’s common position will allow the Swedish presidency to enter negotiations with the European Parliament (“trilogues”) on the final version of the proposed legislation.

Background

Following the data governance act adopted by the co-legislators in 2022, the data act regulation is the second main legislative initiative resulting from the Commission’s February 2020 European strategy for data, which aims to make the EU a leader in our data-driven society.

While the data governance act creates the processes and structures to facilitate data sharing by companies, individuals and the public sector, the data act clarifies who can create value from data and under which conditions. This is a key digital principle that will contribute to creating a solid and fair data-driven economy and guide the EU’s digital transformation by 2030. It will lead to new, innovative services and more competitive prices for aftermarket services and repairs of connected objects (“Internet of Things” / IoT).

In its conclusions of 25 March 2021, the European Council underlined the importance of digital transformation for EU’s growth, prosperity, security, and competitiveness, as well as for the well-being of our societies. In light of these ambitions and challenges, the Commission proposed on 23 February 2022 measures for a fair and innovative data economy (Data Act), as a follow-up to its communication of February 2020 on the European strategy for data.

Source: EMM/ European Council

European Council, 23 March 2023

EU leaders discussed the latest developments in relation to Russia’s war of aggression against Ukraine and continued EU support for Ukraine.

The President of Ukraine, Volodymyr Zelenskyy, joined the EU leaders via video conference.

Competitiveness, single market and the economy, energy, external relations and other topics, including migration, were also discussed.

European Council conclusions, 23 March 2023

EU response to Russia’s war of aggression against Ukraine

The European Council reiterated its resolute condemnation of Russia’s actions and unwavering support for Ukraine and its people.

EU leaders welcomed a resolution by the UN General Assembly on ‘Principles of the Charter of the United Nations underlying a comprehensive, just and lasting peace in Ukraine’, which was adopted in February and received broad support from the international community. EU leaders reiterated their support for President Zelenskyy’s peace plan.

Accountability of perpetrators

The European Council called for:

an immediate, complete and unconditional stop to Russia’s aggression

full respect for international humanitarian law, including the treatment of prisoners of war

the safe return of Ukrainians deported to Russia, in particular children

EU leaders took note of the arrest warrants issued by the International Criminal Court against Russia’s President and his Commissioner for Children’s Rights for war crimes.

They also welcomed the agreement to create the new international centre in The Hague for the prosecution of the crime of aggression against Ukraine.

The European Union is firmly committed to ensuring full accountability for war crimes and the other most serious crimes committed in connection with Russia’s war of aggression against Ukraine.

European Council conclusions, 23 March 2023

Sanctions against Russia

Since the start of Russia’s war, the EU and its member states have made available around €67 billion to Ukraine and its people. They also adopted an unprecedented set of restrictive measures against Russia, which visibly affected its regime and its economy.

The EU remains committed to maintaining and increasing collective pressure on Russia through:

possible further restrictive measures

work on the oil price cap with partners

EU leaders underlined the importance of ensuring the effective implementation of restrictive measures and preventing and countering their circumvention.

The European Union will intensify its work with partners to counter false Russian narratives and disinformation.

EU response to Russia’s invasion of Ukraine (background information)

EU solidarity with Ukraine (background information)

Military and defence needs

The European Council welcomed the agreement in the Council to provide Ukraine with 1 million rounds of artillery ammunition within a year.

European Peace Facility (background information)

Recovery and reconstruction

EU leaders remain committed to supporting, along with partners, Ukraine’s repair, recovery and reconstruction by:

stepping up work towards the use of Russia’s frozen assets for the reconstruction of Ukraine

supporting the establishment of an international mechanism to register the damage Russia has inflicted

Moldova

The European Union will continue to provide all relevant support to the Republic of Moldova to strengthen the country’s resilience, security, stability and economy and help it on its path to EU accession.

The European Council invited the Commission to present a support package ahead of its next meeting.

Moldova (background information)

Global food security

The European Council took note of the recent extension of the UN Black Sea Grain Initiative, underlining the substantial EU contribution to efforts to support the export of Ukrainian food through the EU solidarity lanes.

Food security and affordability (background information)

Food for the world (feature story)

A robust and future-proof economy

The European Union is building a robust and future-proof economy that secures long-term prosperity. This requires a deepening of the single market and reinforcing industrial, agricultural and trade policies.

Infographic – 30th anniversary of the EU single market

Illustration of a woman and two men, with a map showing the member countries of the EU single market in the backgroundSee full infographic

The EU single market

On the occasion of its 30th anniversary, EU leaders highlighted the benefits of the single market and supported a renewed focus on enforcing rules and removing barriers to cross-border business.

A well-functioning single market remains fundamental for the success of the green and digital transitions, for our future growth and for economic, social and territorial cohesion.

European Council conclusions, 23 March 2023

EU leaders called for ambitious action to:

complete the single market, in particular for digital and services

address the vulnerabilities exposed by recent crises

EU single market (background information)

Competitiveness

With the aim of boosting the EU’s long-term competitiveness, the European Council called for work to be taken forward on:

strengthening the EU’s resilience and productivity

simplifying rules and procedures and reducing the administrative burden

allowing for easier access to private capital and investment (in particular for small and medium-sized entreprises) and ensuring targeted support in strategic sectors

reducing the EU’s strategic dependencies

encouraging innovation and increasing investment in research and development

strengthening the digitalisation of the economy, unlocking the value of data, and ensuring the EU stays at the forefront of new and emerging technologies

investing in the skills of the future

fostering the transition towards a more circular economy

Capital markets union (background information)

Industrial policy

EU leaders called for work to be taken forward on the European critical raw materials act and the net-zero industry act and took note of the revised state aid framework.

EU industrial policy (background information)

Trade

The European Council held a strategic discussion on the geopolitical aspects of trade and underlined the contribution of trade policy to the EU’s competitiveness.

Infographic – Council orientations for a reform of the EU economic governance framework

An illustration of the Council building surrounded by different icons that symbolise the economic governance frameworkSee full infographic

Economic policy coordination

Leaders endorsed Council orientations for a reform of the EU economic governance framework to make it fitter for current challenges. They were adopted on 14 March 2023.

Towards a reform of the Economic governance framework (background information)

Economic governance framework: Council agrees its orientations for a reform (press release, 14 March 2023)

In the framework of the 2023 European Semester, which is the annual cycle of economic, fiscal, labour and social policy coordination within the EU, leaders endorsed the draft Council recommendation on the economic policy of the euro area.

The European Council also endorsed the policy priorities of the annual sustainable growth survey and invited member states to reflect them in their national reform programmes and stability or convergence programmes.

The European Semester explained (background information)

European Semester (infographic)

Energy

EU leaders took stock of actions taken at EU level to address high energy prices, reduce gas demand, ensure security of supply and phase out dependency on Russian fossil fuels.

Leaders called on the Commission and the member states to ensure preparedness and contingency planning in view of the next gas storage filling and heating seasons. They urged all stakeholders to make full use of the EU Energy Platform to further improve the security of gas supplies at affordable prices.

The European Council invited the Commission to promptly finalise the assessment of the emergency measures adopted in 2022 and, where necessary, to propose the extension of their application.

Leaders asked the Council and the European Parliament to quickly agree on all relevant proposals to accelerate the green transition, and to take work forward without delay on the proposed revision of the EU’s internal electricity market design with a view to ensuring its adoption by the end of 2023.

Energy prices and security of supply (background information)

EU-UN relations

Leaders also held an exchange of views with António Guterres, United Nations Secretary-General.

They agreed on the importance of EU-UN cooperation to tackle global challenges and stressed their shared commitment to multilateralism.

Readout of the working session of the European Council with the UN Secretary General (press release, 23 March 2023)

Migration

The Council presidency and the Commission informed the European Council about progress in the implementation of its February conclusions on migration.

Leaders called for the swift implementation of those conclusions and will review it again in June.

EU migration and asylum policy (background information)

Special European Council, 9 February 2023

External relations

EU leaders welcomed the:

outcome of the latest Donors’ Conference in support of people in Türkiye and Syria following the tragic earthquake on 6 February

agreement on the path to normalisation of relations between Kosovo* and Serbia through EU-facilitated dialogue

agreement on the Windsor Framework

The Protocol on Ireland and Northern Ireland explained (background information)

Donors’ conference for Türkiye and Syria (European Commission)

The European Council also condemned the sentencing of prominent representatives of the Belarusian democratic opposition.

Water security

The European Council welcomed the UN 2023 Water Conference and its Water Action Agenda.

EU leaders acknowledged the need for enhanced EU and global action on water and underlined the importance of a strategic EU approach to water security.

Euro Summit

In the margins of the European Council, a Euro Summit in inclusive format, with all 27 leaders, was held on 24 March.

Source: EMM/ European Council