For all the talk of aging oil fields and shrinking production, the U.K. is about to achieve a surprising feat: it’s on the brink of becoming a net crude oil exporter for the first time in 14 years. To put the milestone into context, it’s one of the key criteria for joining OPEC. Source: Bloomberg
The EU has announced an additional €30 million in humanitarian assistance. Another €20 million in development funding will contribute to the reconstruction of the country’s cultural heritage. Source: European Commission
Spain’s Socialist government announced a 47 billion euro ($53 billion) public investment plan on Wednesday to tackle climate change over 10 years, which would be partly financed by issuing green bonds. Source: Reuters
Honda is closing its factory in Turkey as the country’s new-car sales collapse.
Vehicle sales in Turkey dropped 35 percent last year to 612,607 as the value of the local currency fell, figures from JATO Dynamics show. Honda’s sales bucked the trend by rising 8.5 percent due to the popularity of the locally made Civic sedan, Turkey’s fourth best-selling car last year.
