Page 21 - Europe

Russia says pipeline gas, LNG exports to Europe up by 18-20% in 2024

Russian pipeline gas exports to Europe face serious challenges

Iran denies allegations of using kids to hit Israeli targets in Europe

Esmaeil Baghaei, spokesman for Iran said the allegations, are "absurd, shameful and immoral," adding that Iran "never had a proxy" nor needed one

Iran hires locals, including minors to attack Israeli targets in Europe

Britain's MI5 has also issued warnings of an increase in Iran-linked attacks. But the Nordic countries are particularly vulnerable

Trump adds Europe to list of US trade partners facing tariff threats

President-elect Donald Trump on Friday added the 27 countries that make up the European Union to the list of trade partners he's threatening with tariffs unless the group takes steps to import more US goods. I told the European Union that they must make up their tremendous deficit with the United States by the large scale purchase of our oil and gas, Trump posted shortly after 1 a.m. on social media. Otherwise, it is TARIFFS all the way!!! In 2023, the United States' trade imbalance with the EU on goods was USD 209 billion, according to the Census Bureau. There were USD 576 billion in imports from Europe and USD 367 billion in exports from the United States. Trump's transition team did not respond to questions seeking greater clarity on the message, which for all its bluntness was unclear on next steps. When Trump threatened Canada and Mexico with 25 per cent tariffs in November, the leaders of both countries spoke with him to try and resolve any tensions. But the European Union .

European car sales decline in November, led by France and Italy: ACEA

The slowdown in electric vehicle (EV) sales was only partly offset by the growth of hybrid-electric car registrations

French President Emmanuel Macron to announce new prime minister today

Barnier stepped down after just three months in office, marking the shortest tenure of any prime minister in modern French history

Formula 1 owner's $3.8 billion MotoGP deal faces full-scale EU probe

MotoGP is just the latest asset to be taken over by billionaire John Malone's sprawling Liberty Media empire that already includes a wide range of media, communications and entertainment businesses

British trader gets 12 years' jail in Denmark for 'cum-ex' tax fraud

Shah has denied any wrongdoing, arguing earlier in court that he used a legal loophole, which meant the trades did not break the law, and that he should be acquitted

ECB cuts rates 25 bps to 3% amid worsening growth outlook for Euro zone

The ECB has been easing policy as inflation worries largely evaporate and the debate shifts to whether it is cutting rates fast enough to support an economy that is lagging global peers

European Union on collision course with Trump on Big Tech crackdown

The most immediate dilemma for the EU may be how to approach the X platform

Europe's economy to suffer if chaos continues in France, Germany: Experts

Even before the French and German governments collapsed, Europe's economy had enough difficulties. Tepid growth and lagging competitiveness versus the US and China. An auto industry that's struggling. Where to find billions for defense against Russia? And now Donald Trump threatening tariffs. Solutions will be harder to find while the two countries that make up almost half of the eurozone economy remain stuck in political paralysis well into 2025. Where once there was the so-called French-German axis to push Europe ahead, now there's a vacuum. French Prime Minister Michel Barnier resigned Thursday after losing a vote of confidence, and while President Emmanuel Macron will appoint a successor, the new head of government will lack a majority. Elections are not constitutionally permitted until at least June. Germany's coalition led by Social Democratic Chancellor Olaf Scholz with the Greens and pro-business Free Democrats fractured in November, triggering an early election on Feb. 23.

Chinese automakers pivot to hybrids for Europe to counter EV tariffs

Some manufacturers are also shifting production and assembly to Europe to lower the cost around tariffs

Georgia opposition party leader arrested as protests over EU row continue

Georgian police on Wednesday raided the offices of an opposition party and arrested its leader in an apparent attempt to squelch a wave of mass protests triggered by the governing party's decision to suspend negotiations on joining the European Union. During the past six nights, riot police used water cannons and tear gas to disperse the demonstrators, who threw fireworks at police officers and built barricades on the Georgian capital's central boulevard. More than 300 protesters have been detained since Thursday and over 100 people have been treated for injuries. On Wednesday, the Coalition for Change opposition party said that police raided its offices and detained its leader, Nika Gvaramia. It shared a video showing several officers dragging Gvaramia into a car. Georgian media reported that police also raided the offices of several other opposition groups and non-government organizations. Prime Minister Irakli Kobakhidze of the Georgian Dream party said the raids targeted those

Italy PM Meloni, Hungary's Orban pledge cooperation on migration, Ukraine

Italy's Premier Giorgia Meloni met her Hungarian counterpart Viktor Orban on Wednesday in Rome, where the two discussed the situation in the Middle East, their support for a just and lasting peace in Ukraine and their commitment to the eastern country's reconstruction. Meloni also congratulated Orban on his six-month rotating presidency of the EU Council, the first chapter of accession talks with Albania and the progress made with Bulgaria and Romania in the expansion of the Schengen area, according to a statement from the Italian government. The two far-right leaders also discussed the Middle East conflict, support for a peaceful resolution in Ukraine, and their nations' commitment to Ukraine's reconstruction ahead of the next recovery conference, which will be held in Rome in July 2025. During the 1 1/2-hour meeting at the Italian government's headquarters the leaders also emphasised the importance of addressing irregular migration, calling for increased cooperation with countries

Top cities for expats in 2024: Zurich, Vienna, & Auckland lead the pack

Switzerland's Zurich has earned the top spot for its outstanding public services, low crime rates and strong commitment to sustainability, followed by Vienna, Austria for its cultural vibrancy

LNG traders divert cargoes from Europe to Asia as eastern demand rises

Quick change in course reflects agility of trading firms in sending LNG supplies to Europe or Asia, whichever pays, as colder weather increases competition between the two regions for the fuel

Rising sick days are costing European businesses billions every year

As companies struggle with chronic shortages, critics blame an overly generous welfare system, where spending on health-related benefits outranks other developed nations

Iceland heads for Parliamentary polls; immigration, inflation key issues

Icelanders will elect a new parliament Saturday after disagreements over immigration, energy policy and the economy forced Prime Minister Bjarni Benediktsson to pull the plug on his coalition government and call early elections. This is Iceland's sixth general election since the 2008 financial crisis devastated the economy of the North Atlantic island nation and ushered in a new era of political instability. Opinion polls suggest the country may be in for another upheaval, with support for the three governing parties plunging. Benediktsson, who was named prime minister in April following the resignation of his predecessor, struggled to hold together the unlikely coalition of his conservative Independence Party with the centrist Progressive Party and the Left-Green Movement. Iceland, a nation of about 400,000 people, is proud of its democratic traditions, describing itself as arguably the world's oldest parliamentary democracy. The island's parliament, the Althingi, was founded in 93

European aviation watchdog lifts ban on PIA for Europe flights: Pakistan

The European aviation watchdog has lifted the ban on Pakistan International Airlines (PIA), the country's national flag carrier, for flights to Europe, a minister said on Friday. The ban was imposed on the PIA in 2020 due to safety concerns in the wake of an air crash in Karachi which left nearly 100 people dead. Aviation Minister Khawaja Asif said the European Commission and European Aviation Safety Agency lifted the ban, terming the development as a huge success for Pakistan. It is a momentous day to announce that the European Commission and EASA have lifted the suspension on PIA flights to Europe, he said in a post on X. Asif said the development was made possible due to the aviation ministry's complete focus on strengthening the Pakistan Civil Aviation Authority (PCAA) and ensuring safety oversight in line with the standards of the International Civil Aviation Organisation. Our government has taken significant measures to strengthen PCAA, including enactment of PCAA Act, smoot

Inflation in Europe rises to 2.3%, growth concerns dominate ECB discussions

Inflation in the 20 countries that use the euro currency rose in November but that likely won't stop the European Central Bank from cutting interest rates as the prospect of new US tariffs from the incoming Trump administration adds to the gloom over weak growth. The European Union's harmonised index of consumer prices stood up 2.3 per cent in the year to November, up from 2.0 per cent in October, the EU statistics agency Eurostat reported Friday. Energy prices fell 1.9 per cent from a year ago, but that was offset by price increases of 3.9 per cent in the services sector, a broad category including haircuts, medical treatment, hotels and restaurants, and sports and entertainment. Inflation has come down a long way from the peak of 10.6 per cent in October 2022 as the ECB quickly raised rates to cool off price rises. It then started cutting them in June as worries about growth came into sharper focus. High central bank benchmark rates combat inflation by influencing borrowing cost