Page 23 - Europe

Outside Europe, India most important market for Skoda: CEO Klaus Zellmer

Czech car maker Skoda is lining up new models, expanding sales network and also looking to forge partnerships to scale up business in India, the most important market for the brand outside Europe, according to global CEO Klaus Zellmer. The company, which currently sells models like Kushaq and Slavia in the country, aims to drive in an all-new compact SUV early next year hoping to almost double its sales volume in the market. Skoda Auto India sold around 49,000 units last year. India is the world's third-largest passenger vehicle market with annual dispatches surging to 42 lakh units in FY24. The automaker, a part of the Volkswagen Group, is also looking to introduce electric vehicles in the country. In an interaction here, Skoda Auto global CEO Klaus Zellmer said the automaker is willing to learn and be totally customer-centric as it considers India as the most important market for the brand after Europe. "Outside Europe, our most important adventure is India because this is the p

US, Europe warn Hezbollah to ease strikes on Israel, back off from war

US, European and Arab mediators are pressing to keep stepped-up cross-border attacks between Israel and Lebanon's Hezbollah militants from spiralling into a wider Middle East war that the world has feared for months. Hopes are lagging for a cease-fire anytime soon in Israel's conflict with Hamas in Gaza that would calm attacks by Hezbollah and other Iranian-allied militias. With that in mind, American and European officials are delivering warnings to Hezbollah, which is far stronger than Hamas but seen as overconfident, about taking on the military might of Israel, current and former diplomats say. They are warning that the group should not count on the United States or anyone else being able to hold off Israeli leaders if they decide to execute battle-ready plans for an offensive into Lebanon. And Hezbollah should not count on its fighters' ability to handle whatever would come next. On both sides of the Lebanese border, escalating strikes between Israel and Hezbollah, one of the .

Nazara subsidiary to fully acquire Freaks 4U Gaming in deal worth Rs 271 cr

E-sports and gaming company NODWIN will enhance its stake to 100 per cent in its European peer Freaks 4U in a share swap deal valued at around Rs 271 crore, the company said on Friday. Singapore-based NODWIN is a material subsidiary of Nazara Technologies, a company headquartered in Mumbai. "NODWIN Gaming International Pte has signed definitive agreements to increase its existing 13.51 per cent stake in Freaks 4U Gaming GmbH to 100 per cent in tranches through a share swap valued at up to Rs 271 crore (Euro 30.3 million)," the company said in a statement. NODWIN will initially increase its existing stake in Freaks 4U to 57 per cent. "The remaining 43 per cent held by the founders Michael Haenisch, Matthias Remmert and Jens Enders will be swapped at a later time at its option. Existing investors of Freaks 4U Gaming will become shareholders of NODWIN Pte," the statement said. Freaks 4U generated Rs 223 crore (Euro 26.9 million) revenue in 2023. NODWIN acquired a minority stake in F

EU leaders agree on officials who will be face of European Commission

European Union leaders signed off on a trio of top appointments for their shared political institutions on Thursday, reinstalling German conservative Ursula von der Leyen as president of the European Commission for another five years. At the side of von der Leyen, who heads the EU's executive branch, would be two new faces: Antonio Costa of Portugal as European Council president and Estonia's Kaja Kallas as the top diplomat of the world's largest trading bloc. Mission Accomplished, outgoing EU Council President Charles Michel told reporters after chairing a summit of the bloc's leaders, as von der Leyen and Kallas accompanied him at a joint a news conference. Costa took part via video-link. Von der Leyen expressed her gratitude for a shot at a second term of office, saying: I'm very honored and I'm delighted to share this moment. Kallas, who as the EU's top diplomat will lead the bloc's foreign and security policy with Russia's war on Ukraine in its third year, noted that there is

China miscalculated with Europe in backing Russia, US envoy says: Report

The European Union is now acting in "outright opposition" to China's support for Moscow, said Ambassador Nicholas Burns

EU top court rejects drugmaker Servier appeal against EU antitrust fine

The European Commission handed down the 331 million euro ($354 million) fine in 2014 to Servier, as well as fines to generic drugmakers Teva, Unichem and its subsidiary Niche, Matrix

Euro 2024: De Bruyne's Belgium plays Ukraine in Group E; too close to call

Belgium plays Ukraine on Wednesday with all to play for in Group E at the European Championship. With all teams in the group on three points after two games, only goal difference separates top to bottom. Kick-off is at 9 pm local (1900 GMT, 9.30 pm) in Stuttgart. Here's what to know about the match: Match facts Belgium got its campaign up and running with a 2-0 win against Romania after being shocked by Slovakia in its opening game. The No. 3-ranked team in the world is second in the group on goal difference going into the last round of fixtures. Ukraine suffered a 3-0 defeat to Romania in its opening game but responded by beating Slovakia 2-1. Both teams know a win will be enough to guarantee their place in the pre-quarterfinals. Team news Axel Witsel has missed both of Belgium's games so far and didn't even travel with the team for the game against Romania. By the numbers This is the first time Belgium and Ukraine have met in international soccer. Romelu Lukaku is Belgium'

Ukraine set for symbolic start of EU membership talks, alongside Moldova

The two countries will have to navigate not just technical and legal obstacles to membership but also political hurdles

German business sentiment unexpectedly darkens in June: Ifo Institute

The Ifo institute said its business climate index declined to 88.6 in June from 89.3 in May, compared with a reading of 89.7 forecast by analysts

Hungary forward Barnabas Varga stable after injury against Scotland

Hungary forward Barnabs Varga was in hospital in stable condition after a serious-looking injury at his team's final group match at the European Championship. Varga will likely undergo surgery after fracturing several bones in his face. The 29-year-old also has concussion and will take no part in the rest of Euro 2024 should Hungary advance to the round of 16 as one of the four best third-place teams. The Group A game against Scotland was halted for nearly 10 minutes so Varga could get treatment after colliding with opposing goalkeeper Angus Gunn midway through the second half. Varga's teammates held up blankets to shield the player as he was tended to by medical staff, while everyone looked on in concern. Both sets of fans applauded when Varga was stretchered off. Several bones in Barnabs Varga's face were broken during the collision during the match, and he also suffered a concussion, the Hungarian soccer federation wrote on X, formerly Twitter, after the match. The Ferencvros

Germany gets late goal to draw with Swiss; finish top of Euro 2024 group

They all jumped for the ball in a frantic late push for the goal that would save Germany from its first loss at the European Championship, against an impressive Switzerland team. Defender Nico Schlotterbeck leaped up, next to the even more imposing center-back Antonio Rdiger, who reached highest of all. In front of them both was substitute Niclas Fllkrug. The German trio was circled by three Swiss opponents trying to protect a 1-0 lead two minutes into stoppage time. Six pairs of feet off the ground in unison, straining to be the one to head the ball. It was Fllkrug who won the contest, guiding the ball crossed from another substitute David Raum back across Switzerland goalkeeper Yann Sommer into the top corner of the net. The match ended 1-1. We risked a lot in this phase because we could have conceded a second goal, Germany coach Julian Nagelesmann said about throwing his defenders into attack. "Who doesn't dare to risk, doesn't get to draw. Germany had already advanced to the r

ABN Amro nears deal to buy HSBC's German private bank: Report

The takeover of the business, formerly known as Trinkaus & Burkhardt, could be announced over the next two to three weeks, the paper said

India's plan for raw material curbs ignores Red Sea crisis: Arcelor-Nippon

The curbs planned by the world's second-biggest producer of crude steel could hit output, as they cap imports of a steelmaking fuel, low ash metallurgical coke

After rallying to 26-mth high, Asian shares end the week with a whimper

Overnight, the Swiss National Bank cut rates for a second time while the Bank of England opened the door to an easing in August after holding rates steady

Euro 2024: Group C leader England faces Denmark in semifinal rematch

England faces Denmark on Thursday as the leader of Group C at the European Championship after a 1-0 win over Serbia. Denmark was denied by Slovenia's late leveler in a 1-1 draw also on Sunday. They meet in Frankfurt at the Waldstadion where kickoff is at 6 pm local time (1600 GMT). Here's what to know about the match: Denmark's need for a win is greater, ahead of a final Group C game against a physically imposing Serbia team. The teams renew their rivalry from a Euro 2020 semifinal played three years ago at Wembley Stadium. England won 2-1 after extra time, sealed when Harry Kane followed up his penalty being saved by Kasper Schmeichel to score when the ball rebounded to him. Denmark did not easily forget how England got that decisive spot-kick, for a foul awarded against defender Joakim Mhle "a penalty which should not have been a penalty," coach Kasper Hjulmand said then. There is a familiarity between the squads with teammates at Manchester United, Crystal Palace and Brentford

China requests Britain to stop sanctioning Chinese firms over Russian links

Britain last week imposed its first sanctions targeting vessels in Russian President Vladimir Putin's "shadow fleet" that it said was used to circumvent Western sanctions on the trade in Russian oil

EU Commission plan may exempt long-haul flights from new emissions rules

The EU is developing plans to require airlines to track and report their contribution to climate change from January 2025

UK inflation at 2% for first time since 2021, underlying pressure persists

Sterling rose modestly against the US dollar after the data

Indian debt expensive but rate cut clarity to trigger more buying: Pictet

Pictet, one of Europe's largest fund managers, manages debt worth around $2.67 billion in its local currency emerging market fund

Commercial properties become stranded across Europe poor energy performance

The development is playing out as the commercial market struggles to right itself after years of turbulence due to higher interest rates and volatile post-pandemic occupancy rates