Page 18 - Europe

Europe, Asia dominate list of top 10 nations in 2024 by GDP per capita

Advanced economies are projected to experience a slight uptick in growth, moving from 1.6 per cent in 2023 to 1.7 per cent in 2024 and 1.8 per cent in 2025

ECB at risk of becoming too restrictive, cuts interest rates: Cipollone

"The data so far confirms our direction of travel and I hope that they will allow us to continue to be less restrictive," Cipollone told Le Monde in an interview

Akums Drugs strengthens global presence with European market expansion

The decision to enter the European market comes at a time when the global pharmaceutical landscape is undergoing changes

EU, India announce joint funding initiative to foster research cooperation

This new partnership will strengthen research and innovation ties between Europe and India and drive forward scientific and technological progress

China's Xpeng aims to manufacture EVs in Europe to blunt import tariffs

Volkswagen AG's Chinese partner is in the initial stages of selecting a site in the European Union as part of its future plan to localise production, Chief Executive Officer He Xiaopeng said

InterGlobe opens boutique lifestyle hotel Miiro in Paris, Barcelona

InterGlobe Enterprises, the biggest shareholder of IndiGo airline, has opened its boutique lifestyle hotel Miiro in Paris and Barcelona and is looking to add more properties in Europe over the next couple of years, a top official said. Neena Gupta, CEO of Miiro, said Le Grand Hotel Carye in Paris opened in July and Borneta in Barcelona this month. The entry-level luxury lifestyle hotel brand will continue back-to-back launches into 2025 with London and Vienna. Templeton Garden in London, located in the leafy area of Earl's Court, will offer 156 rooms, complemented by a cafe-deli, a neighbourhood restaurant, a vibrant bar, and an outdoor F&B experience in an expansive garden oasis in the Spring of 2025, she said. The two hotels in Vienna, with their strategic location boasting over 200 rooms, will be the next destination for Miiro. With further openings planned for 2026, Miiro is poised to expand its footprint significantly. InterGlobe, which is the biggest shareholder in ...

AI boom driving earnings growth for Europe's biggest industrial companies

Data center revenues for the six biggest electrical firms reached €20 billion ($22.2 billion) last year, double what they were five years earlier, according to Redburn Atlantic analyst James Moore

Subdued discretionary spending to hit India's IT services growth: Report

The latest Fitch Ratings report says that the long-term growth of India's IT services sector will be supported by client spending on digital transformation, cloud migration, and AI

Europe reported 50,000 heat-related deaths in 2023 amid record temperatures

As climate change continues to raise temperatures, Europeans are exposed to increasingly significant health risks as they reside on the fastest-warming continent

How a sleepy Czech town is helping Europe compete in the global chip war

Roznov was best known for its rum-drizzled sweet pies and open-air museum showing off historical wooden houses, then US chipmaker ON Semiconductor picked it for a new $2 bn manufacturing hub in June

Residents of Serbia's lithium-rich region pledge to block EU-backed mining

Zlatko Kokanovic does not want a lithium mine in his backyard and he will do anything he can to stop it from opening. All of us here, we are ready to lose our lives," the 48-year farmer told The Associated Press. "They can shoot. That is the only way they can open the mine. At stake is a lush farming valley in western Serbia that holds one of Europe's richest deposits of lithium, a precious metal that is used to make batteries for electric cars and is crucial for the global transition to green energy. Whether there should be a mine in the valley or not has become one of the most contentious issues in the Balkan nation, triggering protests by thousands of people in a challenge to the populist President Aleksandar Vucic. While the government insists the mine is an opportunity for economic development, critics say it would inflict irreparable pollution on the Jadar valley, along with underground water reserves, farm land and two small rivers that run through the valley. Thousands are

US destroys Houthi anti-ship missiles in Yemen; F-22 jets land in West Asia

US forces successfully destroyed one Houthi uncrewed surface vessel in the Red Sea, it said in a press statement on Thursday

TikTok agrees to withdraw rewards feature after EU raised concerns

It was the first resolution of an investigation under the 27-country EU's sweeping Digital Services Act, which went into effect in February

UK PM Keir Starmer meets police after 100 arrests in violent protests

British Prime Minister Keir Starmer on Thursday called a meeting with police chiefs after violent protests outside Downing Street in London over the fatal stabbing of three young girls in Southport, north-west England, as the teenage male suspect in the attack was charged with murder. The Metropolitan Police said that over 100 people have been arrested during the clashes on Wednesday evening for offences including violent disorder, assault on an emergency worker, and breach of protest conditions as some of its officers suffered minor injuries. It followed violent protests in Southport and also in Hartlepool, north-east England, and Aldershot, south-east England, believed to involve far-right groups whipped up by social media misinformation claiming the male suspect behind the stabbing was a Muslim asylum seeker who arrived illegally in the country on a boat. Following the tragic events in Southport, it is understandable the public have strong feelings about this shocking incident b

HSBC shares rise on $3 bn buyback; flat first-half profit beats estimates

Europe's largest bank forecast its return on average tangible equity - a performance target - to be in the mid-teens in 2025, matching its estimate for 2024

Barcelona and beyond: How Europe's tourism boom is sparking unrest

Central to these protests across Europe is the escalating issue of rising rents and house prices, making homeownership unattainable for residents

France's new lawmakers set to pick a speaker as political turmoil persists

France's influential lower house of parliament, the National Assembly, will elect its speaker on Thursday evening after a chaotic early election called by President Emmanuel Macron produced a hung legislature. Two figures emerged as favorites after two nonconclusive rounds of vote: outgoing Speaker Yal Braun-Pivet of Macron's centrist party, and the candidate of the leftist coalition, communist lawmaker Andr Chassaigne. The parliamentary election earlier this month resulted in a split between three major political blocs: the New Popular Front leftist coalition, Macron's centrist allies and the far-right National Rally party. None of them won an outright majority. Thursday's opening session of the National Assembly comes two days after Macron accepted the resignation of Prime Minister Gabriel Attal and other ministers, but asked them to handle affairs in a caretaker capacity until a new government is appointed, as France prepares to host the Paris Olympics at the end of the ...

ECB keeps interest rates unchanged, offers no guidance on next move

ECB came out with a balanced message following Thursday's meeting, arguing that corporate profits were absorbing some price pressures but risks remained

New car sales in EU increase by 4.3% in June, says industry body Acea

Top European carmakers are betting on car sales to pick up over the year, despite cooling electric vehicle (EV) demand after several years of strong growth

'Hellishly hot' southern Europe bakes under heat wave as temp tops 104F

The Italian health ministry placed 12 cities under the most severe heat warning Tuesday as a wave of hot air from Africa baked southern Europe and the Balkans and sent temperatures over 40 degrees Celsius (104 degrees Fahrenheit), with the worst still to come. Croatia reported the highest-ever temperatures of the Adriatic Sea, with the thermometer reaching nearly 30 degrees Celsius (86 degrees Fahrenheit) at the southern walled city of Dubrovnik, the country's most popular tourism spot. In Serbia, the state power company reported record consumption Tuesday due to the use of air conditioning. Municipal authorities in several southern European and Balkan cities took measures to look after elderly people in particular as civil protection crews fielded calls for water-dropping aircraft such as Canadairs to douse wildfires that raged in southern Italy and North Macedonia. It's hellishly hot," said Carmen Daz, a tourist from Madrid who was trying to keep cool with a fan at lunchtime in ..