In most countries, the energy consumption of buildings reaches very high levels, making their energy efficiency potential high. Buildings play an important role in energy efficiency and make a significant contribution to combating climate change and energy consumption. Therefore, it is important to align the process, from the buildings’ design to their final completion and exploitation, with the pertinent green standards.

The COVID-19 pandemic undoubtedly hit the real estate market. In response, the government adopted a series of measures that included an extraordinary moratorium, often used by commercial tenants, and a rent reduction scheme in which the government subsidized the rent in cases where the landlord was willing to provide a discount. Most importantly, the crisis made the government abolish the 4% real estate transfer tax.

Open Banking doesn't just happen because regulations enforce it, it's commercially embraced as an opportunity to make a nation's financial infrastructure more efficient, more resilient, and better serve customers. We look forward to the opportunities it will bring to the economy and society as a whole. Open Banking Implementation Entity the 'OBIE' Implementation Auditor Imran Gulamhuseinwala, UK

Sayenko Kharenko, Jun 3: After three months of Russia’s full-scale invasion of Ukraine, we are beginning to adjust to the new conditions of life, while other countries worldwide are gradually removing the war from their agendas. But this should not be allowed to happen, so in May, the Fund’s volunteers tried to spread the word about the need to help Ukraine and the activities of the “Breathe” Charity Fund at every possible venue.

COVID-19 pandemic caused different market distortions that imposed economic entities to various challenges, both in terms of their relations with the clients, i.e., consumers, and their mutual relations.

Emergency Ordinance No. 58/2022 amending and supplementing consumer protection acts (“GEO No. 58/2022”) was published in the Official Gazette, Part I, No. 456 of 6 May 2022. The act entered into force on 28 May 2022.

At the end of April 2022, the Commission proposed the digitalization of the Schengen visa process, replacing the visa sticker, and introducing the ability to submit visa applications online through a visa platform. This way, applying for a Schengen visa will become easier and the visa itself will be more secure and less vulnerable to theft and fraud.

On 19 May 2022, the Government of the Republic of Serbia adopted the Regulation on the temporary measure of limiting the price of gas and compensating for the difference in the price of natural gas, procured from imports or produced in the Republic of Serbia, in case of disturbances on the natural gas market, which regulation was published in the Official gazette of the RS no. 59/2022.

The Supreme Court confirmed parties' freedom to contractually modify any of the prerequisites for set-off under Bulgarian law, thus permitting various quasi-security arrangements in commercial and financial contracts that creditors may avail themselves of.

On 6 April 2022, Council Directive (EU) 2022/542 amending the EU VAT Directive was published in the Official Journal of the EU with substantial changes on place of supply rules and re-shaping the VAT rate system.

At Open Balkan Summit held in Tirana on December 21, 2021, several agreements were signed by Serbia, North Macedonia and Albania, including the Agreement on conditions for free access to the labour market in the Western Balkans, which was subsequently ratified by the National Assembly of the Republic of Serbia on December 29, 2021, and published in the Official Gazette of the Republic of Serbia – International Agreements no. 27/2021 from December 30, 2021 (“the Agreement”).

GEO no. 67/2022, published in the Official Gazette on 23 May 2022, enforces the application of fiscal incentives for companies who decide to increase their employees’ salaries from the minimum gross salary, i.e. RON 2,550, to RON 2,750, for salaries from 1 June - 31 December 2022.

Although it would appear that no fewer than 10 000 online platforms operate in the EU, the digital market seems to be moulded by just a handful of them. This raised concerns among the Authorities in terms of, among others, transparency and fair competition. The Digital Markets Act (DMA), together with the upcoming Digital Services Act (DSA), forms a central part of the package proposed by the Commission to address such concerns, setting up specific obligations for the digital giants, the so-called gatekeepers.

In today’s world, both globally and in Turkey, there are an increasing number of corporations that are in constant search of funding and investment either to grow a newly started promising business or to increase the profitability and efficiency of an already established business by moving it to the next level. In order to meet this need, there are also individuals or corporations, that is to say, investors, with the capital to provide the liquid injection in exchange for shareholding position or other certain benefits in the invested company.

The European Investment Bank (EIB) will support Hungarian green financing with long-term forint-denominated loans. The cooperation agreement, which was entered into this May and allows the EIB to provide more fixed-rate long-term loans in Hungarian forints to the local economy, aims to boost sustainable economic and social growth, the post-pandemic recovery and climate action in Hungary. It is the EIB's response to growing market demand for local currency lending in EU Member States that are not part of the euro area.

Data protection legislations generally aim to protect the fundamental privacy rights of natural persons, to have more control over their personal data and to grant more rights over this data belonging to them. In blockchain technology, data protection and confidentiality must be taken into account whenever personal data of real persons are processed. In accordance with GDPR and KVKK legislation, a natural or legal person must be responsible for the establishment and management of the data recording system.

On 18 May 2022, a Bill on Amendments to the Law on foreigners (hereinafter: “Bill”), was submitted to the Parliament, introducing legislative solutions for obtaining visas and residence permits for digital nomads.

On the 17th of May 2022, the President of the Office of Competition and Consumer Protection published information that an administrative fine of over PLN 5.3 million has been imposed on the Lithuanian company Vinted UAB, the operator of a popular platform for buying and selling second-hand clothes.