Latest news with #digitalregulation
Times of Oman
6 days ago
- Business
- Times of Oman
Europe: EU unveils $2.33-trillion budget proposal
Brussels: The European Union's executive branch, the European Commission, on Wednesday presented its proposal for a significant budget increase to €2 trillion ($2.33 trillion) for the period 2028-2034. The figure represents an €800-billion ($930-billion) increase on the current budget of €1.2 trillion as the bloc looks to confront challenges including migration, digital regulation, overseas competition and Russian aggression. "It's a budget for a new era," wrote Commission President Ursula von der Leyen on the BlueSky microblogging platform. "[A budget] that matches Europe's ambition, addresses Europe's challenges [and] strengthens our independence." The Commission itself described the proposal as "the most ambitious EU budget ever: more strategic, flexible and transparent." What is the EU budget for? The EU budget, officially known as the multi-annual financial framework (MFF), spells out the bloc's policy priorities for the coming years and how much money is allocated to different areas. In the draft proposal presented to the European Parliament in Brussels by EU budget commissioner Piotr Serafin on Wednesday, the largest tranche of money will be allocated to a national and regional partnership fund worth €865 billion. A further €451 billion will be ringfenced for EU investment efforts in clean tech, digital, biotech, defense, space and food, while around €300 billion will be go to support farmers, who have been worried about potential cuts to subsidies. Up to €100 billion ($116 billion) is to be set aside specifically for Ukraine, over three years on from Russia's full-scale invasion. "This is a long-term commitment to Ukraine's recovery and reconstruction," Serafin said. Who contributes to the EU budget? The EU budget is largely financed through contributions by member states. As the EU country with the largest economy, Germany usually contributes just under a quarter of the available funds. According to Wednesday's draft, however, the proposed increase could in part be financed by new revenue sources such as a levy on large companies with an annual turnover of more than €50 million or a share of national tobacco taxes. The draft budget will now form the basis for negotiations between the EU Commission, the EU Parliament and members states, which are likely to be lengthy and contentious.
Bloomberg
15-07-2025
- Business
- Bloomberg
Meta Faces New EU Tech Antitrust Clash After €200 Million Fine
By and Gian Volpicelli Save Meta Platforms Inc. is headed for another clash with the European Union after a €200 million ($232 million) fine failed to bring Facebook and Instagram into compliance with a tough new digital law. The European Commission wrote to the social network giant last week, cautioning that Meta's pay or consent service — allowing ad-free services for a fee — needs further reworking, the Brussels-based EU executive told Bloomberg.
Bloomberg
24-06-2025
- Business
- Bloomberg
Google Faces UK Pressure Over AI Search Summary, Advertising
Alphabet Inc. 's Google will face the UK 's antitrust watchdog's push for more fairness and transparency in its online search and advertising business, including in AI-generated search responses, in a move that could make it the first company to face action under tougher UK digital rules. The Competition and Markets Authority proposed to designate Google with so-called strategic market status, flagging concerns over fairness in it search results, high advertising cost and how content is used in AI-generated search responses, the watchdog said a statement on Tuesday.
Malay Mail
18-06-2025
- Politics
- Malay Mail
Fahmi: Malaysia's Online Safety Act to strengthen digital protections, enforcement expected soon
PUTRAJAYA, June 18 — The Online Safety Act 2024 is expected to be enforced soon after several key processes related to the legislation are finalised, according to Communications Minister Datuk Fahmi Fadzil. Fahmi, who is also Madani Government spokesperson, said he is currently awaiting the draft of the Act from the Malaysian Communications and Multimedia Commission (MCMC), which includes the regulations to be adopted. 'Once the draft is ready and I sign the gazette to enforce the Act, then it will come into effect,' he said at his weekly press conference today. Fahmi said that a committee will also be set up by the Minister in the Prime Minister's Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, to oversee the implementation of the Act. 'This committee will have regulatory powers over the enforcement of the Act, such as defining what constitutes online harms,' he explained. Prior to this, Azalina said that the new law would come into force once the Communications Minister signs the enforcement order, enabling the government to act swiftly to remove illegal content. Under the Act, platform providers are also required to comply with specified duties of care. Azalina noted that while the Online Safety Act focuses on platform regulation and digital responsibilities, any issues involving children must be addressed within the framework of the Child Act 2001. In a related development, Fahmi said sign language interpreters will have increased involvement in key programmes to facilitate communication with persons with disabilities (PwD). 'Insya-Allah, I will strive to ensure that sign language interpreters are not only present during Communications Ministry press conferences but also in upcoming parliament sessions and other areas. We want to highlight the role of sign language interpreters,' he added. — Bernama
Malay Mail
16-06-2025
- Politics
- Malay Mail
Azalina: Online Safety Act coming into force soon, targets digital harm to children
BANGI, June 16 — Malaysia is set to enforce the Online Safety Act 2024 soon following its full passage through Parliament and Royal Assent. Minister in the Prime Minister's Department (Law and Institutional Reform), Datuk Seri Azalina Othman Said, said the Act has already been gazetted and is now awaiting the official enforcement date to be signed by Communications Minister, Datuk Fahmi Fadzil. She said the law will give authorities greater powers to regulate digital platforms and bolster safeguards, particularly to protect children from online harm. Azalina said the law will come into force as soon as Fahmi signs the enforcement order, enabling the government to act swiftly in removing unlawful content. Under the Act, platform providers will also be required to uphold a defined duty of care. 'After that, there will be a joint council (Online Safety Committee) to define online harms,' she said at a press conference after the monthly assembly of the Legal Affairs Division (BHEUU) and launch of the National Legal Academy (APN), here today. Azalina said that while the Online Safety Act centres on platform regulation and digital responsibility, any matter involving children must also be viewed through the lens of the Child Act 2001. On a separate note, she stressed the urgent need for stronger legal frameworks to ensure corporate accountability, particularly in cases involving public safety and transport negligence. Citing the recent bus crash that claimed the lives of 15 UPSI students, Azalina called for policy-level discussions on corporate liability, including the potential introduction of corporate manslaughter laws. 'How can a company run a business and not be held responsible? Take the example of what happened with Air India. If something goes wrong mechanically, it should not be enough to just pay out insurance. Someone must be held accountable,' she stressed. — Bernama
