Europe is developing the IOEMA-1 submarine cable to boost high-capacity internet infrastructure in Northern Europe.
The project forms part of efforts to increase petabit-level connectivity ahead of 2030. It is positioned as a competitor to initiatives involving Japan and Meta.
Tiny underwater cables continue to connect entire island nations to the global internet. Growing concerns over sabotage and accidental damage are raising alarms about worldwide network stability. These links are increasingly viewed as potential military targets.
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Iran is weighing a proposal to charge fees for undersea internet cables passing through the Strait of Hormuz. The plan could also limit cable repairs to Iranian companies only.
The European Union and Egypt have agreed on a financing package worth up to €690 million to modernise Egypt’s electricity transmission network and support its renewable energy goals.
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China's railway giant CRRC has withdrawn from a Lisbon metro contract after a European Commission probe found billions in subsidies gave it an unfair edge. A Polish firm, PESA, will replace it in the Mota-Engil-led consortium. The bid totals €598.8 million for the Portuguese capital's new Violet Line.