Semiconductors Push: Infineon has commissioned its €5bn Smart Power Fab in Dresden ahead of schedule, doubling capacity and creating about 1,000 jobs—another signal that Europe wants to keep power-chip supply chains at home. EU Sanctions & Payments: The EU is weighing whether to reconnect Russia’s Russ Solkhoz Bank to SWIFT under the grain-deal framework, a move that would require unanimous member-state approval. Cyprus Recovery Fund Fight: Cyprus risks losing €50m–€69m in Recovery Fund grants unless MPs quickly approve a rushed law creating the KOAE business development bank—lawmakers are challenging eligibility rules and governance details. AI vs Regulation: Europe’s top bankers and regulators warn that AI, especially agentic systems, is moving faster than rulemaking; they’re calling for guardrails to protect market stability. Crypto Rulebook Tightening: ESMA has expanded its MiCA register by 37 firms and warned Polymarket over EU rules that could trigger retail restrictions. NATO Financing Shift: NATO leaders are preparing for Ankara with talk of Europe and Canada backfilling Ukraine support and ramping defense spending, including a push for a new multilateral defense bank. Banking & Climate Finance: A new report says the world’s biggest banks funded fossil fuels with $8.7tn since Paris, including $906bn in 2025—highlighting pressure on European lenders’ transition plans. Data Centers Investment: CPP Investments is putting $1.75bn into EQT’s AI data center build-out with EdgeConneX, betting on durable demand for digital infrastructure.