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Serbia risks losing vital foreign investment following the decision by Jared Kushner’s firm, Affinity Global Development, to withdraw from a major luxury real estate project in Belgrade, according to an official from the country’s ruling party. Milos Vucevic, head of the Serbian Progressive Party (SNS), warned that the move sends a negative signal to international investors and could benefit other Balkan nations instead.

Affinity Global Development had planned to build a large-scale complex including a hotel, apartments, offices and retail spaces on the site of the former Yugoslav army headquarters in central Belgrade, under a 99-year lease agreement signed last year. However, the project faced strong public opposition, with critics arguing the site should be preserved as a memorial for victims of the 1999 NATO bombing. The plans also became entangled in a corruption investigation linked to the removal of the buildings’ protected status.

Vucevic said protests and political pressure ultimately discouraged investors, claiming the withdrawal reflects poorly on Serbia’s investment climate. He added that Kushner is instead pursuing a separate development project in Albania. Serbian prosecutors last week indicted three officials, including a minister, over alleged illegal actions that enabled the project to move forward. Affinity Global Development has not commented, and there is no indication of wrongdoing by Kushner or his firm.

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Spain has emerged as one of Europe’s renewable energy leaders, now generating over half of its electricity from wind and solar power. Regions such as Aragón, dotted with wind turbines and solar farms, symbolise this transition. The shift has also attracted major foreign investment, including a €4bn battery factory near Figueruelas backed by China’s CATL and Stellantis, reinforcing Spain’s reputation as a clean energy hub and supporting the government’s goal of sourcing 81% of electricity from renewables by 2030.

However, Spain’s strong commitment to renewables has recently been questioned following a major blackout in April that affected large parts of Spain and Portugal. While opposition leaders blamed an over-reliance on green energy, the government and grid operator Red Eléctrica denied any direct link, citing technical anomalies and unresolved system issues. Despite this, Spain has since leaned more on natural gas, fuelling debate over whether the country’s energy mix is sufficiently balanced.

The controversy has revived calls to rethink plans to shut down Spain’s nuclear power plants between 2027 and 2035. Nuclear industry leaders and opposition parties argue that nuclear energy provides stability alongside renewables, especially when weather-dependent sources fall short. With political uncertainty growing and the possibility of a change in government, Spain’s long-term energy strategy now stands at a crossroads, even as renewable-driven investment continues to transform local economies like Figueruelas.

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Alphabet’s Google has announced plans to invest €5.5 billion ($6.4 billion) in Germany between 2026 and 2029 to strengthen its cloud infrastructure and data centre capacity. The investment includes building a new data centre in Dietzenbach near Frankfurt and expanding its existing facility in Hanau, both located in the state of Hesse.

The initiative is expected to secure around 9,000 indirect jobs, marking a significant boost for Germany’s digital economy. Google Cloud’s Northern Europe vice president Marianne Janik said the investment will directly involve about 100 workers at each site. The move follows a series of major tech partnerships in Germany, including a $1.2 billion AI deal between Deutsche Telekom and Nvidia.

German Finance Minister Lars Klingbeil hailed the announcement as a major signal for Germany’s economic future, noting that no state funds are involved. The government continues to promote the country as a prime business destination amid efforts to modernize infrastructure and revive economic growth.

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