Volvo Cars is the first car manufacturer to export its China-made vehicles to Europe via China’s “One Belt, One Road” trade initiative. The new Volvo S90 sedans, built in Volvo’s Daqing facility in China, will be arriving at a holding centre in Zeebrugge, Belgium later this week. Source Carlist
The Turkish Armed Forces (TSK) has completed a search-and-rescue exercise in the eastern Mediterranean’s international waters off Cyprus. Source: Hürriyet Daily News
Luxembourg will have to recover about €120 million in unpaid tax from French energy giant Engie, after the European Commission found the Grand Duchy guilty of breaching strict state aid rules. Source: Euractiv
France and Germany have agreed to set up a common budget for the eurozone, Chancellor Angela Merkel said Tuesday, announcing a key reform proposal to bolster the bloc. Source: France24
