SpainMore than half of ’ football fans plan to watch the 2026 World Cup games in the bar. This is the figure from a study of LaLiga’'s football watching habits, and it shows that the Spaniards are the most likely Europeans to follow the tournaments away from their homes.
But on the field, the truth is more subtle. Santi Vidal, owner of the bar El Cuadro in Madrid's ’in Carabanchel district, does not expect a stampede at the opening matches: “People prefer to watch them at home. As La Roja progresses through the tournament, we expect only a large crowd.”RTVE’ye told me. They didn't make any special preparations for their first game against Cape Verde.
The pandemic is a turning point, Vidal points out: Before the coronavirus, football night was crazy. After COVID-19’, many people prefer to relax and reunite with friends at home.”
According to Numerator’'s Worldpanel consultancy, it's a change in habits that the data itself confirms. Two out of three fans will follow the World Cup ’ from the living roomFood and Drinks to Take Home %He'll spend six more. The Glovo report goes even further: the Spanish People %It reveals that 80’in prefers to stay at home, and pizza and burgers are ordered most often during matches.
the Industrial Association, Hostelería de España, He predicts that bars may increase their purchases.On match days when there are appropriate start times %With the 25 tween the 30s. SpainIf ’ reaches the finals, the total benefit to the sector could exceed 130 million Euro’. Average spend per customer during the tournament %It is expected to increase around 11, while spending is estimated to be between 13 and 18 euros per person per match.
The association also notes a side effect: Reservations in restaurants drop when matches are broadcast for free. In these cases, orders placed through food distribution platforms are increasing. The Glovo report supports this: Participants in the survey %the 82 ’siPrioritize orders for pizzas and burgers before the starter hit.
Bars adapt and change their menus
Many organizations are changing their offerings in order to attract customers. Julocho García, who bought the beach bar El Amarillo’ in Cabañas, La Coruña’ last year, is temporarily changing its menu, which consists of the usual fresh produce for sandwiches, nachos, burgers and empanadas: “ We know that people want to have a snack and eat fast food while watching games.”Jacob Medina has served as a reserve staff at ’'s Villarrubia de los Ojos’taki (Ciudad Real) El Portón bar for weeks: “If Spain enters the qualifying stage, Bar is normal %Fifty more full, even. more intense.”TVE’ye told me.
Brands and distributors have also taken action. Medina says her usual supplier gives her more than just drinks: “We have decorations, cherry birds, face paints. . . They gave us scratch cards with prize draws and merchandise.” Bar also decided to make an official Spanish scarf draw among its customers.
Medina, Spain, adds an element that rarely stands out in the analysis of the World Cup in ’'s hospitality sector: Moroccan national team. “Villarrubia’ has a large immigrant population from that country.They live the World Cup’ very intensely and they know that Fas’ has a real chance, so I expect the bar to be full if the Mohamed Ouahbi’nin team goes forward.”
The time difference with the United States, Canada, and Mexico is another factor that bar and restaurant owners take into account. Matches between Cape Verde and Saudi Arabia will start at 19:00’ (Houston, Texas, local time); June 27 Spain-Uruguay match starts at 18.00’de (Guadalajara, Mexico, local time). For Vidal, the early evening hours work according to bars in cities such as Madrid:On the contrary, “ García sees this as an advantage for the beach bar on the Galician coast: “People go to sea in the afternoon and then come to watch the game. It's the perfect time for dinner when the match is over.” So much so that he plans to open the games early in the morning.if there is demand.
The supply chain is also feeling the effects.Guillermo López Menchero, sales representative of Villarta de San Juan’ (Ciudad Real) distributor Menchero Gil SA’, says the bars have been pushing their orders for weeks: “They tend to order early, especially to avoid beer, soft drinks and water shortages.”Moreover, the change in the beer brand they worked with this year also increased the interest of the businesses in the province.
SpaceX is preparing for its biggest stock market launch ever.
Elon Musk’'s rocket company begins trading on Nasdaq’ on Friday under the code SPCX. The company raised $75 billion (64.5 billion euros) by pricing each of its shares at $135, setting the company's value at $1.75 trillion (1.5 trillion euros) in the largest stock market IPO on record.
The deal will comfortably eclipse Saudi Aramco’'s previous record of $29.4 billion set at 2019’, which was later increased by the general allocation option.
SpaceX did something unusual. EuropeA strong driver to attract retail investors, including those in ’. According to Bloomberg’, individual investors placed orders worth about $100 billion (€86.6 billion) through trading platforms such as Robinhood, Fidelity and SoFi during the IPO process.
This demand alone exceeded the company's goal of raising $75 billion (64.5 billion euros) in funding, underscoring the interest of small investors before entering the stock market.
But below this exaggerated advertisement, a few warning lights are flashing. Here are five risks investors should weigh before the SpaceX’ IPO goes live:
1. Is SpaceX’ worth $1.75 trillion?
Investors will value SpaceX’e at a valuation of $1.75 trillion (1.5 trillion euros), about 94 times its annual revenue of $18.7 billion (euro 16.1 billion) at 2025’. By comparison, Nvidia, one of the market's most valuable tech companies, is trading less than a quarter of that level.
Investment research firm Morningstar, which has valued the company at $780 billion (€675 billion), describes the company as “, which is significantly overvalued, while Goldman Sachs data suggests that sustaining the share price will require revenues of over $100 billion (€86.6 billion) by 2030, suggesting that annual compound growth %It says it's over 40’.
2. A valuation based on a small variability
Investors also need to pay attention to the size of the public eye. Although SpaceX’ is valued at $1.75 trillion (1.5 trillion euros), its shares are only %From 3 to %4’ü will initially be open to public trade.
This means that the market value of the company will be determined by trading a relatively small portion of its equity. Reports show that more than 75% of the $75 billion (64.5 billion euros) offer is already allocated to existing investors and insiders, leaving fewer shares in the open market.
According to Morningstar’, limited volatility and strong demand for AI-related stocks can help support the share price in the early stages of trading, even if the company is valued above what the research firm considers fair value. The firm argues that when lockdown restrictions expire and more shares become available for trading, a clearer picture of investor demand may emerge.
But some analysts believe the limited volatility could continue to support the stock. Estimates suggest that when Nasdaq 100’e joins SpaceX’e, passive investment between $22 billion (€19 billion) and $27 billion (€23.4 billion) could flow, creating additional demand from index tracking funds.
History offers a warning note. Research by University of Florida professor Jay Ritter, often referred to as “Bay Public Offering, found that IPOs between 2012 and 2021 averaged on the first trading day. %It increased by 23.6 percent over the next three years. %It turned out to yield a 10.6 percent return.
3. Not profit, but loss.
SpaceX’'s financial results could also cause investors to pause.
The prospectus shows that the company is growing rapidly but still losing money.
The company owns the Starlink satellite internet service, which generates most of its revenue and is its only profitable business. He also owns the artificial intelligence company xAI’, which merged with SpaceX in February.
According to the application, SpaceX posted a cumulative deficit of $41.3 billion (€35.76 billion) as of March 31, and reported a net loss of $4.27 billion (€3.7 billion) in the first quarter of 2026’.
This compares to $528 million (457 million euros) in the same period of the previous year.
Most of the recent losses are due to xAI’. According to SpaceX’'s public offering application, the artificial intelligence business 2025’te recorded operating losses of approximately $6.4 billion (€5.5 billion). The application also showed that xAI’ was spending heavily in the first months of 2026’ while expanding its artificial intelligence infrastructure.
Morningstar argues that the artificial intelligence unit “ poses a material threat to the loss of value, and Grok” has not yet achieved meaningful market share against competing chatbots.
Supporters say losses are a choice, not a structural flaw.
Revenue from the previous year's $14.1 billion (12.2 billion euros) in 2025’te %It rose 33 percent to $18.7 billion (€16.2 billion). The basic launch and satellite business was profitable as recently as 2024. The vulnerabilities largely reflect the intense investment in artificial intelligence infrastructure; The expenditures said by the supporters are already being compensated by new computing contracts.
4.Artificial intelligence growth gambling
Supporters argue that investors are paying for future growth instead of existing profits.
While Starlink remains the company's main source of revenue, the AI business is expected to play a larger role in the coming years.
The bulls also point to SpaceX’'s dominant position in rocket launch and satellite communications, suggesting that the company is uniquely positioned to benefit from the growing demand for connectivity, computing power, and artificial intelligence infrastructure.
SpaceX launches more rockets each year than the rest of the world combined, and has more than nine million Starlink subscribers, but the newest growth driver is the AI data center business purchased through the xAI merger.
Last Friday, Google agreed to pay $920 million (€796.6 million) per month for compute capacity at SpaceX’e xAI data centers in a 32-month agreement that will run from October 2026’ to June 2029’, covering access to approximately 110,000 Nvidia GPU’s.
This was after the agreement in May, when Anthropic’in paid $1.25 billion (EUR 1.08 billion) per month to lease the entire output of the Colossus 1 data center by May 2029, with total annual computing revenue of about $26 billion (EUR 22.5 billion).
The bulls argue that this contracted income, obtained in less than four months, shows how quickly the company can make money from its infrastructure. Skeptics note that both contracts include 90-day termination provisions after December 2026’, with Google’ itself framing the agreement as “bridge capacity” rather than a permanent commitment.
It's a FILE. Gas turbines seen at xAI plant in ’, Memphis, Tennessee, December 2025
5. Risk the size of Elon Musk
SpaceX’'s success, profile, and past performance are closely linked to Elon Musk’, which has helped attract investors, customers, and business partners. This creates what investors call “kilit person risk”; I mean, concerns about how the company would perform if he didn't lead anymore.
The management structure of the company strengthens this dependence. Musk’'s super-voting Class B shares give him an approximate voting power of %He gives away 85’ini, and outside shareholders have little impact on key corporate decisions. In practice, this means that no one but Musk’ can decide whether or not to remain CEO.
Critics also note SpaceX’'s establishment in ’, Texas; Only the least amount of shares %Investors who own 3’ can file derivative lawsuits. The Danish academic pension fund AkademikerPension has blacklisted the stock, describing its management structure as “ Catastrophe”.
Supporters argue that double-class sharing structures are common among U.S. tech firms, including Meta and Alphabet’. They say intense voting control allows founders to achieve long-term goals without pressure from short-term investors.
Musk’'s reputation also brings political risk. U.S. Senator Elizabeth Warren urged the Securities and Exchange Commission to review the listing, warning that its inclusion in the index in the future could expose millions of passive investors to stocks without actively selecting them.
Others noted that SEC’ completed its review faster than expected, suggesting that this allowed the IPO process to proceed without delay and that regulators saw no immediate impediment to listing.
Disclaimer of Disclaimer: This information does not constitute financial advice; Always do your own research to make sure it suits your specific circumstances. Also remember, we are a journalism site and aim to provide the best guides, tips and advice from experts. If you trust the information here, you do so entirely at your own risk.
The long-awaited public offering of SpaceX’ is hours away from reshaping the fate of thousands of employees.
The list set for this Friday is expected to earn millionaires not only among senior engineers and executives, but also among blue-collar workers, including cooks and welders who receive equity as part of compensation packages.
Unexpected rainfall is concentrated around Brownsville, Texas, one of ’'s poorest cities, USA, where SpaceX’ employs more than 3,000 people at its Starbase facility.
What makes this IPO unusual even by Silicon Valley standards is how far down in the organization chart equity grants appear to be.
Some estimates in media reports indicate that the total number of newly minted millionaires in the company as a whole is around 4,000. However, the figures could not be independently verified.
Michael Limas, a Brownsville-based financial planner, told Bloomberg’e that many of the company's non-technical employees received stock options as part of their salaries.
Limas, “SpaceX, has taken a very friendly approach to options at various levels from top to bottom. This is something unique to this region, ” said.
An example quoted by investment research platform Moby’ shows the scale quite clearly. A welder's initial 10,000 $The equity grant of ’ (€8,650) is currently 880,000 before being listed $It is reported to be worth close to ’a (€762,000).
These individual figures reflect a broader picture of generous equity compensation, consistently reported at multiple points of sale.
The IPO itself has a gradual locking structure rather than the standard 180-day cliff that most companies use.
According to the explanation, it contains multiple early release windows; among them, five out of ten consecutive trading days after the stock's initial public offering price %There is also a performance-dependent mechanism that will come into play if it is traded over 30 times. This will allow some employees to access their new wealth a few weeks after it hits the market.
Brownsville prepares for ripple effects
SpaceX’'s impact on the region is already remarkable, and financial gains from the IPO are likely to further increase it.
Brownsville has long been one of ’'s most economically deprived cities, with average family income roughly a third below the national average, according to government data.
SpaceX arrived about a decade ago and installed the Starbase launch facility on the Gulf of Mexico coast, about 40 kilometers from the city center.
The transformation since then has reportedly been marked by an influx of professionals from California and elsewhere. This was followed by increased housing costs, as is often the case when wealth is concentrated in a particular area.
According to several real estate agents and economists, average housing prices in the wider Brownsville-Harlingen metropolitan area have been around since 2020’ %Increasing by 25 to about 185,000 $From ’ (€160,000) 233,000 $’a (€201,000) increased.
Longtime residents, many of whom have modest incomes, feel the pressure.
Nitrogen-carrying trucks line up to help prepare for a test flight from SpaceX’in mega rocket Starship’in Starbase, Texas, May 22, 2026
For many employees, the shift from holding shares they can't easily sell to accessing cash comes with its own set of challenges.
According to Bloomberg’, asset managers in the region say there is considerable concern among staff, given that this may be the only opportunity to build wealth for generations, and that timing and tax planning can be costly to do wrong.
More than 100’ SpaceX employees in the region reportedly met with consulting firm Choreo to negotiate terms of wealth management; This brought potential assets between $1 billion (€865 million) and $5 billion (€4.33 billion) to the table, helping them achieve lower management fees.
John Cowen, the mayor of Brownsville, one of the region's sixth generation residents, tried to frame the transformation in a positive way, arguing to the U.S. media that it was great that the city was known as an investment destination.
Beyond SpaceX’, other industrial projects followed the company, including building a liquefied natural gas export terminal near the Port of Brownsville.
In March, US President Donald Trump also announced the construction of a $300 billion (260 billion euros) oil refinery, which is said to create 500 full-time jobs at the port.
It is not yet known whether the IPO will ultimately deliver on its promise and how fairly its benefits will soar in a city that knows more about challenges than prosperity.
“Artificial intelligence will be our government's managing partner to support decisions, improve services, improve the efficiency of operations, and even evaluate results and deliver real-time improvements.”
These were the words of His Highness Sheikh Mohammed bin Rashid Al Maktoum’, Vice President and Prime Minister of the UAE and Ruler of Dubai, announcing one of the most ambitious AI transformation programs of any government in the world. While most countries are still discussing how artificial intelligence should be used in public life, the UAE is already transforming systems.
In April, the Gulf nation announced that within two years, public sectors, services and operations would be ’sini has announced a framework that will transform the agent through artificial intelligence. Days later, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince, Deputy Prime Minister and Minister of Defence of the UAE, went even further and led the Dubai Chamber of Commerce to launch an equally comprehensive transformation centered on technology in the private sector.
The goal is not to use AI’ as a tool for people to ask questions, like a chatbot. Building a country where artificial intelligence works with each person as part of the daily routine, both in businesses and in public services.
Agentic AI refers to systems that go beyond just creating text and images or answering queries like ChatGPT, Claude, or Gemini. These are AI models that can independently plan, make decisions, and proactively complete tasks. Consider renewing your passport before it expires, processing and paying contracts without asking or interfering in advance with customer complaints, and resolving customer complaints before they arise. And it's all without a human in the loop. The difference between a chatbot and a mediated artificial intelligence is roughly the difference between a calculator and an accountant.
Dubai’'s private sector initiative includes specific training pathways for Business Groups and Councils operating within the Dubai Chamber of Commerce to be implemented over the next two years. The chamber will also set up special incubation centers for agent AI companies, create opportunities for young people to enter the space, and raise funds to support the transition. The goal, in the words of Sheikh Hamdan’, is for Dubai’ to become “, the world's leading city in adopting these technologies economically and commercially.
There are two reasons to consider for founders and business owners outside the UAE. The first is competitive. According to Precedence Research’, the global market for agency AI is expected to grow from $5.25 billion at 2024’te to $199 billion by 2034’. McKinsey’in 2025The State of Artificial Intelligence study, published in late ’, found that 23 percent of respondents were already scaling intermediary AI systems, while 39 percent were conducting experiments; That means almost two-thirds of them are somewhere on this journey. Companies that take the earliest action tend to gain leads that are hard to catch. Dubai is trying to move the entire city's private sector at once.
The second reason has to do with where it happened. BAE’'s move, almost by design, creates a market where the agency will seek investment from outside its artificial intelligence products, partnerships and borders. Businesses that can offer solutions in the field of logistics automation, finance, healthcare or retail will find a market that actively welcomes them. Incubation centers, special support funds and direct access to corporate decision-makers are already being put together. This is an unusual combination that can be found in one place.
Mr. Eng. - Mm-hmm. Sultan bin Saeed Al Mansoori, President of Dubai Chambers and Chairman of the recently created Executive Committee on Agentic Artificial Intelligence, said the initiative reflects Dubai’'s determination to prepare the business world for the next wave of technological change.
Agentic AI’ya said the move was designed to strengthen the private sector's competitiveness, increase productivity and help companies leverage advanced technologies across their operations.
HE Al Mansoori, “DubaiWe are committed to strengthening ’'s global leadership, increasing the competitiveness of the private sector and ensuring that businesses are ready for rapid technological change, ” added.
The public sector is moving along a similar timeline. BAE’'s national framework is based on the speed and effectiveness of adoption, which forms part of how ministers, general managers and government agencies are assessed, as well as how government sectors, services and operations ’sinin aims to be transformed into Agentic Artificial Intelligence’ within two years. The result is a parallel public and private sector exchange, each aimed at supporting and strengthening the other.
The practical question for businesses already operating in Dubai’ is how quickly they can be integrated. While the room's training paths are designed to accelerate companies regardless of their size or starting points, the planned incubation network will provide structural support to those who build artificial intelligence products from scratch.
One of the most pressing questions for those watching from Singapore’ to Sao Paulo’ is whether a city that is so conscious and moving so fast with a technology that most businesses are still in the trial stage is a market they should enter right now without the ground slipping beneath them.
Germany’'s economic recovery looks weaker than expected in the spring. This is the conclusion reached by experts at the German Institute for Economic Research (DIW). They lowered their growth forecasts for this year by 0.5’e.
DIW chief economist Geraldine Dany-Knedlik says the ‘Energy price shock is clearly slowing the recovery. However, he stresses that the situation is not a repeat of 2022/23’. This was the year when Russia launched the ’'s large-scale invasion of Ukraine. Dany-Knedlik explains: ‘Shock is smaller, energy resources are still safe, and Germany is now less dependent on fossil fuel imports than it was after the start of the war in Ukraine.’
The chief economist, ‘, says public spending is the only reason the economy is growing this year. Household demand is weakening, and companies have become more cautious recently. Higher defense spending and increased government spending through private funding, for example, support economic growth.
The government had already revised its growth forecast downwards in its spring forecasts. Initially, growth of 1.0 percent was assumed, but only 0.5 percent was expected by the end of April. This is in line with the prediction of the Kiel Institute for World Economics (IfW). But the federal government makes it clear that private consumption continues to be the pillar of the economy. Public investments, on the other hand, give a significant impetus to growth.
Stability through defense spending
In a recent press release, the DIW suggests that funds from the special budget for infrastructure and climate neutrality, combined with increased defense spending and a delay, support the German economy and ensure moderate growth in both forecast years.
Dany-Knedlik, ‘However, these fiscal policy impulses do not completely compensate for the cyclical setback, ’ adds. What is important is that resources from private funds are distributed quickly and in a real way in addition to existing budgets, rather than just financing investments that are already planned.‘
The DIW describes other problems facing the German economy as ‘structural’. The industry is no longer as competitive as it used to be, especially the automotive sector is under pressure. High production costs and demographic change also put pressure on competitiveness. These factors limit growth potential, regardless of the current geopolitical situation, and make a rapid cyclical recovery even more difficult, according to the institute.
As an energy producer, the U.S. is the winner, while the eurozone is the loser.
Internationally, DIW estimates that as a major energy producer, ABD’ will continue to record relatively robust growth rates of just over 2%’, while the outlook for the Eurozone will be significantly weaker.
Meanwhile, the U.S. has become one of the world's largest exporters of liquefied natural gas (LNG) and is forced to import European energy while partially taking advantage of high gas prices. RussiaWhen ’'s natural gas supply was cut off, its first port of call for new deliveries was overseas.
Europe is dependent on imports because it cannot produce enough energy on its own. Any related price shock is a burden on the economy and erodes purchasing power. DIW does not expect a supply shock, arguing that oil and gas supply security is not at risk, especially thanks to a diversified structuring.
But energy-intensive sectors such as chemistry, steel and paper are suffering from rising electricity and gas prices. According to DIW assumptions, this means that Germany’ is more affected than other European countries.
Expanding fiscal policy buffers inflation but fails to fully absorb it
While the shock slows growth and also pushes prices up, Dany-Knedlik describes it as ‘, a disturbing situation. So far, expansionary fiscal policy has been able to buffer particularly high inflation. However, it cannot achieve the desired growth.
Consumers are also feeling the impact of rising energy costs for heating, electricity and transportation in their daily lives. As the Ifo Institute noted in ’'s Joint Economic Forecast for the spring of 2026, this leaves less money for private consumption. The European Central Bank remains unclear whether ’ will respond to the rate hike on Thursday.
This is a problem, as the government currently sees consumption as one of the main drivers of growth in the German economy. DIW has a more critical view, arguing that growth stems only from the public sector.
Structural changes in the labor market also play a role. Employment in manufacturing and retail is declining, while employment in the public sector is steadily increasing. The structural change towards services is evident, but the overall number of people working is decreasing.
Employers, trade unions and leaders of the ruling coalition are gathering in the bloodlines today to discuss reforms. Social partners were asked, among other things, to prepare their views in advance on the key factors behind the German ’'s persistent structural growth weakness.
Demand for air travel is strong and revenues are growing in the airline industry, but profits are expected to halve by 2026, as rising jet fuel prices affect companies worldwide, according to the International Air Transport Association ’ne (IATA).
This is global air traffic. %It is mentioned in the latest financial outlook of the trading establishment, which represents the 370 airlines that make up 85’ini.
Worldwide airlines are expected to generate a total net profit of $23 billion (euro 20 billion) by 2026; This is roughly half of the previously projected $41 billion (36 billion euros) and the estimated $45 billion (39 billion euros) in 2025.
This is the annual %2.4 increase to a record 5.1 billion passengers and sector revenues %It rose 9.4 percent to $1.165 trillion (€1.01 trillion).
Willie Walsh, IATA Managing Director, “, said that war-related disruptions and rising fuel costs in the Middle East’ have worsened the look of airlines.
At the same time, the industry's fuel bill has grown from $252 billion in 2025’ (€219 billion) to almost $252 billion in 2026’. increased to 350 billion dollars (304 billion euros), while operating expenses also increased compared to last year. %It is expected to increase by 13 to $1.12 trillion (970 billion euros). Fuel is therefore expected to account for almost a third of airlines' operating costs.
Despite airlines meeting part of the increase in jet fuel prices and continuing efforts to increase efficiency, net profit margins are expected to increase in 2025. %The 4.2 ’den %It's expected to drop to 2.0’.
Walsh, “While air fares are rising, airlines are still covering some of that increase in terms of profitability, ” said. “ added that net profit per passenger is expected to fall to $4.50, which is half of last year, and that's not enough to even buy you hot dogs at most FIFA World Cup venues, ” added, adding that airlines have little buffer to deal with if other costs or taxes start to rise.
In addition to spending on cleaner fuels and carbon offsetting plans, higher aircraft rental and maintenance costs are also expected to put pressure on the industry. IATA also cited the slowdown in global growth, rising inflation and weak world trade as additional pressures on the sector.
The regional comparison
The regional picture is highly unstable. Gulf airlines are among the airlines facing the biggest financial impact at the heart of the conflict. IATA estimates that they are expected to enter the loss zone due to weak demand and operational disruption. All other regions are expected to continue to be profitable, albeit at lower levels than the previous year.
Avrupa’ is also expected to be under significant cost pressure due to its excessive dependence on jet fuel imports from Körfez’.
IATA, “Pre-crisis risk protection rate of fuel needs %Although some of this has been mitigated thanks to meeting the 70’ini, higher costs will arise as hedging measures are eliminated, ” said.
European airlines benefited from the fact that some passengers bypassed the centers of the Gulf, switching to direct routes between Europe and Asia. But as airspace restrictions over Russia continue to disrupt operations, slowing economic growth and rising energy costs are expected to put pressure on consumer spending.
Airlines in Europe’ also face rising costs due to environmental regulations, airport fees and air traffic control fees. Combined with repeated industrial actions in many countries, these pressures can leave carriers in the region at a competitive disadvantage even after market conditions stabilize.
The rapidly developing Middle Corridor trade routes connecting Asia’ to Europe’ through the Southern Gas Corridor and the Caspian region are emerging as strategic energy transport bridges amid global disruptions, but these energy transit systems and their safety require urgent investments in logistics connectivity and infrastructure.
At the Baku Energy Forum’, the increasing importance of the Southern Gas Corridor ’ for European energy security as an alternative to Russian gas was an important issue focusing on future capacity expansion, regional cooperation and the long-term stability of pipeline infrastructure in the wider Caspian region.
Gio Cristofoli, BP’'s Regional President for Azerbaijan, Georgia and Turkey, told Euronews’e that in the “South Corridor, BTC pipeline and SUPSA pipeline, ’ already has a world-class infrastructure that allows the diversification of energy sources to Europe’, as the geopolitical situation really emphasizes the importance of Azerbaijan” as a key energy center.
The Forum's focus on the Middle Corridor’ also means the rapid development of transport, logistics and infrastructure through railways, ports, pipelines and trade routes as interconnected assets.
The digitalization of new technologies and the rise of artificial intelligence already have a significant impact on the efficiency and security of smarter energy systems through digital pipeline monitoring systems, predictive maintenance platforms, and intelligent operational technologies.
But business leaders at the event said infrastructure modernization would require a significant amount of long-term investment due to increased demand for technologically advanced pipeline systems through automation and intelligent infrastructure management to reduce operational costs and increase efficiency.
In order to maximize production efficiency and maintain long-term operational stability, innovation and advanced technologies have become indispensable, Cristofoli said.
euronews’e, regional leader of BP’, said: “ We use artificial intelligence to develop seismic data to really see where we can drill wells.”
“We bring the latest technology in the use of drilling, robotics and drones for inspection systems that people can't go to. Technology is indeed the key to unlocking volumes in the coming years, ” explained.
Emin Sevdimalıyev, media secretary of Azerbaijan State Oil Company SOCAR’, Euronews’e said: “1990When we first started in ’, the landscape was completely different” and “twenty or thirty years ago, we could only imagine innovations such as cloud computing or artificial intelligence.”
SOCAR also used the forum to announce the signing of several strategic agreements, including the Southern Gas Corridor-linked gas supply project to export Azerbaijani gas to Turkey ’, and a memorandum of understanding with Shell and JPMorgan for future cooperation and financing of strategic projects.
Edward Strachan, Managing Director of ICA Events, said: "Billions of dollars worth of contracts were signed during the opening of “Baku Energy Forum, and these are agreements that have been built as a result of years of cooperation and discussions.
EuropeSummer came early this year as ’ was overwhelmed by record-breaking temperatures.
In May, mercury peaked at 37°C for the first time in ’, France, while in London, England, it broke the monthly record with temperatures reaching 34.8°C’. The same goes for Ireland with an unprecedented temperature. It's 30.5°C.
However, according to the European Environment Agency ’'s report titled “Overheated and Underprepared, the majority of EU citizens, that is, 68%, have no air conditioning (air conditioning) or ventilator system in their homes.
Which countries struggle the most to afford air conditioning?
Although some countries do not need it (Europe is not equally hot everywhere) more than one in three people () says they can't afford to buy air conditioning.
In some of the hottest regions of the continent, the numbers are particularly high: France in ’ , Greece’da , Portugal’de and Spain’da (), Italy’da () and Romania’da () more than a third.
It is a worrying picture given that more than one in four EU citizens are over 65 years old and some of the oldest populations are concentrated in countries such as Italy, Portugal or Greece.
It is also Malta (%8.5) and Luxembourg () and Ireland () emerged as the countries with the least problems with air conditioning or fan systems.
Of course, there are other ways to keep homes cool, such as shutters, awnings, or exterior shading.
Spain (although, from Portugal () from Italy () or Cyprus’ta () The majority of people say that their homes do not even have these characteristics.
Warm weather is more worrying than other climate issues
That doesn't mean people aren't worried about high temperatures.
Heat, for EU citizens () is the number one concern about climate; The Flood (), fires (.5) or water shortage (.5) is more.
Concerns are particularly high in the Mediterranean’: the Cyprus ’ , Greece’da and Malta’da %From extremely high temperatures of 70, “much ” or “much ” says they are concerned.
In addition, about half of AB’'s respondents are already at home (%Fifty, that's it.) and %More than 60’ in their own neighborhood () It feels very hot.
There is no air conditioning: Italians and Germans face post office queue hell in summer
Local communities report mixed heat responses from local authorities, and it seems quite rare to come across any public building equipped with “ or air conditioning to ” refrigeration centers in general.
Italians in particular seem doomed to melt; only for the ’i reports using air conditioning in public buildings; In Germany, this figure is even lower in ’, %7. Greece, Malta and RomaniaIn ’, this rate is much higher; About the citizens ’i benefit from refrigerated public spaces.
26 May 2026’ in RomePeople trying to protect themselves from the scorching sun in ’
Greeks love air conditioning but stay away from trees when arranging Cyprus work schedules
Planting trees seems to be a cheaper, more coherent and environmentally friendly option, and the EU residents ’si says they have seen this applied in their circles.
However, the proportions of tree plantings reported in ’ in Hungary ’dan Greece’da only %Since it varies up to 22’ye (third lowest rate across the EU), purchase rates vary widely.
Another reaction on the hottest days may be to adjust work or school schedules.
However, only EU citizens ’i complied with these measures; Replies Cyprus’ta ’ to Portugal’ only %It varies up to 8’e.
the Participants ' %Local authorities seem more active when it comes to heatwave alerts, such as phone calls, text messages or communication through the media reported by 57’si.
At the same time, this type of communication seems to be related to emergency response rather than prevention; There are fewer citizens (.5) reported exposure to awareness campaigns about extreme weather health risks and recommended actions.
The countries of the Eurasian Economic Union (EAEU) are moving towards deeper economic integration through digitalization and artificial intelligence as the bloc's leaders meet in Astana’ for a two-day summit.
During high-level talks, member states discussed creating a unified digital environment to create an uninterrupted market in more than 20 million square kilometers of common economic space.
The delegations focused on trade, joint projects and the development of common digital tools and artificial intelligence systems designed to strengthen collaboration and reduce fragmentation across the block.
Last year, trade within the union more than doubled, while turnover with third countries %While increasing by 72 percent, EAEU countries are also contemplating a single transition system, they are now ’ is made in national currencies.
Kazakhstan's President Kassym-Jomart Tokayev said that with digitalization driving developments across the union, the trade turnover among EAEU members was about €80 billion this year compared to last year's €80 billion. %He said it could increase by 6 to over 85 billion euros.
GDP growth across EAEU countries for 2026-2027 %He added that it was projected to be around 2.5.
Currently in its 12th year, EAEU functions as a single integrated market and free trade zone for its five members (Russia, Belarus, Kazakhstan, Kyrgyzstan and Armenia).
The bloc already has agreements with several countries, including Serbia, Vietnam, the UAE, Mongolia and Indonesia. China continues to be the bloc's key partner, accounting for about a third of foreign trade.
Integration through artificial intelligence
Kazakhstan's Tokayev said that during the EAEU presidency, the country proposed the practical use of artificial intelligence to help implement the bloc's so-called four freedoms in order to strengthen the competitiveness of its member states.
Member states also proposed developing common principles for responsible use of artificial intelligence, as well as joint computing capacity and joint model development.
Meanwhile, according to Russian President Vladimir Putin, ’e, Russia proposed a high-level AI meeting next year to advance cooperation on domestic AI models and connect IT and energy infrastructure.
Pilot projects are currently being tested at the EAEU level.
KazakhstanA variety of AI-powered digital assistants have been developed in ’ by both government agencies and start-ups to help citizens navigate legal and regulatory systems more easily.
According to Dmitry Mun’, Deputy Minister for Artificial Intelligence and Digital Development, these AI legal assistants are designed to simplify legislation, reduce bureaucracy, and make regulatory systems more accessible to citizens and businesses.
Some of these tools are currently being tested to streamline processes in member states.
Trade corridors and logistics modernization
According to the authorities, China’ to Europeapproximately ’i is being routed through the Middle Corridor.
Artificial intelligence is increasingly being used along the TDN and Digital Transportation Corridor along the Trans-Caspian International Transportation Route. Together with these measures, non-commodity exports in the next two years will be approximately %It is expected to increase by 30 percent.
Kazakhstan's Minister of Trade and Integration Arman Shakkaliyev said that the country also aims to take advantage of major transport routes, including the Middle Corridor and the North-South Corridor, to create a fully integrated logistics ecosystem.
The goal, he said, is to position Kazakhstan’ as an important regional hub, where transport routes converge and large export flows are consolidated.
The goal is to develop a fully functioning system where cargo volumes will reach nearly 10 million tons by 2030. Work is already underway, including railway modernization and the development of new infrastructure.
Putin visit and bilateral agreements
Following Putin's official visit to ’, the two countries signed a broader package of agreements covering seven pillars of bilateral cooperation, as well as energy, transport, finance, education and industrial development.
Russia, with an investment of approximately 25 billion Euros, continues to be the largest investor in Kazakhstan, and plans to increase this figure even further. Kazakhstan is also building ’'s first nuclear power plant worth around €14 billion.
Putin, the plant Kazakhstanapproximately the electricity consumption of ’ %He said he would meet 20’sini and that the financing conditions for such projects were in line with international practices.
He said the project supports ’'s industrial capacity through equipment orders and long-term maintenance contracts, while also strengthening cooperation between the two countries in the field of uranium and nuclear technology.
Officials say that for Kazakhstan, the project represents both energy security and a step towards high-value technological cooperation beyond the export of raw materials.
Tensions between China and the EU have intensified in recent months, prompting the European Commission to gather most of ’'s commissioners for a strategic reassessment during a “ orientation debate on Friday.
In a statement following the discussion, the Commission said “China is a critical partner and participation and dialogue will continue. At the same time, the current state of trade and investment relations is not sustainable.“
Calling the relationship “ non-sustainable” may indicate the depth of the break less than it is.
Relations have deteriorated steadily since European Commission President Ursula von der Leyen’ described Pekin’i ’ as a systemic competitor in her landmark 2023“ speech. But tensions rose to a new level when EU policymakers finally resolved their differences over the EU-US trade deal that had consumed Brussels’i for months, freeing the bloc's greater focus on China’e.
Last year, the bloc registered a record trade deficit of 359.9 billion euros with Beijing’le, and Brussels fueled growing calls at ’ to better protect the EU market from cheap Chinese imports, which threaten all sectors, including the metals, chemical and automobile industries.
Speaking to Euronews’e on condition of anonymity, an EU official, “, said that over the past few weeks we have seen a panic attack in China’. The Chinese issue has been ignored for too long, “ added.
2024In the EU industry since ’, – has lost a total of 200,000 European jobs, especially in the energy-intensive and automotive sectors; Automobile construction alone is projected to lose another 600,000 jobs in this decade.
On Friday, the commission said that the “comprehensive approach remains risk-reducing rather than discriminating, signaling that the bloc is pursuing targeted efforts to reduce its dependence on China”e, rather than severing economic ties altogether. But the risk of a full-scale trade war has never been more realistic.
Here are five key points on how the situation got to this point and where it could go next:
1. Fines andthe Regulatory Printing
During the previous legislative period, the EU adopted a law that angered Beijing ’, especially measures aimed at curbing foreign direct investment. And China has stepped up its fight against the so-called dumping’e, where public subsidies are used to lower the price of competitors through exports sold below market prices in ’.
The European Commission has become increasingly ambitious to counter China’'s subsidized approach, including imposing tariffs on imports of battery-powered electric vehicles. Various product-specific researches are also ongoing.
Earlier this week, the Commission fined Chinese e-commerce giant Temu’ya €200 million for selling unsafe products, and JD.com launched a large-scale investigation into ’'s acquisition of e-commerce retailer MediaMarkt’.
EU lawmakers and governments are also discussing this issue. the Industrial Accelerator Act, global market share in a particular sector. A proposed law that would impose strict conditions on investments in batteries, electric vehicles, solar panels and critical raw materials from the countries that control its ’.
A separate proposal (a renewed Cyber Security Act) could push Chinese equipment suppliers such as Huawei and ZTE away from critical infrastructures.
GermanyContainers in ’ – April 2025.
2. A more systematic approach
In April, the EU agreed to double tariffs on steel imports exceeding EU quotas to counter China’'s overcapacity. The measure is a so-called ’ security measure, a tool backed by some of AB’'s largest economies, including France, Italy, Spain, the Netherlands and Lithuania, which calls for expansion into sectors beyond metals.
In a statement, these countries argued that the protection measures were more “chevik” than other EU vehicles targeting cheap export products. The document also calls for economic security to be taken into account in assessing AB’'s interests when deciding on commercial defence measures.
The European industry is also increasing pressure on China's cheap imports of ’, and the Commission calls on ’ to use its commercial defense measures as “, which is more flexible, faster and preventive.
An important wake-up call for EU policymakers was that Dutch-based chipmaker Nexperia’, acquired by Chinese giant Wingtech, remained in the crossfire of US-China trade tensions and caused serious disruptions in the automotive sector.
The Commission is now preparing to demand that sectors such as the auto industry diversify chip suppliers in certain situations and consider supply chain risks in purchasing decisions.
Despite these various initiatives, EU policymakers have begun to be cautious that current rules are moving too slowly for a fast-moving competitor. After taxes were imposed on electric vehicle batteries, China’'s focus shifted to hybrid vehicles.
Brussels is now moving towards a more systematic approach and sees trade defence as a toolbox for rebalancing relations with China. One of the potential additions is the overcapacity tool to limit imports in certain sectors.
3. China’'s threats of retaliation
Over the past few weeks, China has was threatenedThe EU could retaliate if it continues to close its market to Chinese goods.
Both the “Made in Europe” legislation and the Cyber Security Act Beijing drew ’'s anger, leading to intense lobbying in Brussels and EU member states with warnings that the implementation would trigger a reaction.
Europeans are walking a tightrope, aware that their decisions could trigger a trade war. After AB’ imposed tariffs on ’ electric vehicles in 2024, Beijing also imposed tariffs on EU pork, brandy and dairy products.
At a press conference Thursday, Chinese Foreign Ministry spokesman Mao Ning said “International trade is a two-way street. There is no mandatory trade. China-EU trade relations are inherently based on a win-win relationship. China does not target trade surpluses, ” said.
Ning said “AB’ needs to put its trade ties with China into perspective and honor its commitment to free trade. China will closely follow AB’'s moves and take all necessary measures to protect legitimate rights and interests, ” added.
Some argue that it is too late for Europeans, who depend on China’ for key components of their supply chains - components that Beijing’ can weaponize at will.
In 2025, China blocked the export of rare earth elements vital to AB’'s green technology and defense, as well as the chips required for the European automobile industry. Beijing can also benefit from operating licenses for EU companies and restrict access to its market at any time.
4. Departments of Europe
Europe is far from uniting on China.
Despite its troubled trade deficit with Beijing’, Germany has been slow to move away from a co-operation approach that prioritizes securing German companies' access to the market in China’.
Berlin did not endorse the non-paper agreement last weekend, backed by other major EU economies. Instead, German Economy Minister Katherina Reiche reiterated this week that Germany's ’'s top priority is to avoid jeopardizing exports to China’e.
But the economic cost of Beijing ’e dependence may force Berlin’i to reconsider its stance. The German government is reportedly weighing a tougher line that will signal a significant shift in Chinese policy.
For years, German industry had a relationship with the Chinese market, which critics described as poisonous; This relationship has hampered any meaningful attempt to rebalance the trade deficit for fear of losing commercial access to the broad Asian market.
Spain has become the other major EU country that is reluctant to take action against China’. With relatively cheap energy costs, Spain has become attractive to foreign investors, for which Beijing’ has a growing share.
After initially appearing to support the French-led non-newspaper organisation, he withdrew and claimed to have only participated in the debates, his stance this week has been a source of embarrassment for Madrid.
Spain's Trade Minister Carlos Cuerpo, “, said there was no special political support for anything off-paper” and added that AB’ should establish “ contact with Chinese officials via ”dialogue“.
5. What's going to happen now?
The reassessment process of ’'s attitude towards China’ has been under construction for a long time, based on decades of deepening economic dependence. But the latest acceleration also resulted from a change in the stance of ABD’; The most prominent was President Donald Trump's recent visit to Beijing.
Friday's orientation debate by the commission was only the first step in a process that could translate into a broader repositioning. Given internal divisions and the threat of retaliation, it remains deeply unclear where this will lead.
The results of this exercise are expected to contribute to the debate on economic security at the next European Council meeting in ’ on 18-19 June. China has been on the agenda of EU leaders several times in recent years, but has been pushed aside due to more urgent crises.
While Brussels is considering adding new tools to its policy toolbox, political will remains the main determining factor. Nowhere is this gap as sharp as in the way AB’ uses the anti-pressure tool, also known as “trade bazooka”, designed to counter economic pressure and unfair trade restrictions.
Although we were under a lot of pressure, the anti-pressure vehicle was never used, “ said. “We really need the tools we're willing to use.”
