Page 30 - Europe

Jinping arrives in Europe to reinvigorate ties at time of global tensions

Chinese President Xi Jinping kicked off a three-country trip to Europe on Sunday with the continent divided over how to deal with Beijing's growing power and the US-China rivalry. European carmakers are losing ground to subsidised Chinese electric vehicles. Diplomats fret about alleged Chinese spies in European capitals. And China's continued defence trade with Russia worries anyone in Europe who supports war-ravaged Ukraine and fears that the Russian army won't stop there. But Europe and China have hefty economic ties EU-China trade is estimated at 2.3 billion euros per day and Xi appears determined to rebuild and deepen relations with European leaders after a prolonged absence prompted by the COVID-19 pandemic. Xi starts Sunday in France, whose president wants Europe to have more economic and strategic independence from other world powers. Then the Chinese president heads to Serbia and Hungary, both seen as China-friendly and close to Russian President Vladimir Putin, and ...

As Xi Jinping visits Europe, Ukraine, trade likely to be top priority

Ukraine, trade and investment are expected to dominate Chinese leader Xi Jinping's first trip to Europe in five years, as the Asian giant rebuilds its foreign relations after a prolonged absence during the Covid-19 pandemic. Xi will start the tour in Paris on Monday, meeting with French President Emmanuel Macron, who has been stressing the idea of European strategic autonomy from the U.S. On a visit to Beijing last year, Macron courted controversy by saying France would not necessarily always align with the US in foreign policy, an apparent reference to American support for the self-governing republic of Taiwan, which China claims as its own territory to be annexed by force if necessary. After leaving France, Xi will visit Hungary and Serbia, both seen as China-friendly and close to Russian President Vladimir Putin, rebuffing Western criticism of his full-scale invasion of Ukraine. Xi's European visits will be closely followed in Washington for signs of diminishing support for its k

Why HSBC must prioritise Asian expertise in CEO search after Quinn retires

HSBC, Europe's largest lender by assets with a balance sheet of $3 trillion, is increasingly betting on its historic Asian ties to raise profits, as competition crimps revenue growth in other regions.

Higher consumer spending, investment boost French first quarter growth

Economists broadly expect activity to pick up over the course of the year as lower inflation boost consumers' purchasing power and interest rate cuts fuel an increase in investment

EVs pile up at European ports as Chinese firms struggle to find buyers

Chinese makers will have to contend with buyer wariness, a lack of brand image, trade protectionism and rapid outdatedness

TikTok halts reward for watching video feature on new app in France, Spain

TikTok said on Wednesday that it's halting a feature on its new app rewarding users in Europe for watching videos, after facing pressure from regulators worried about its addictive features. The company backed down days after the European Union warned that the TikTok Lite app might have breached the 27-nation bloc's digital regulations when it launched earlier this month. The EU's executive Commission threatened to order the suspension of features that pose a risk to kids. TikTok always seeks to engage constructively with the EU Commission and other regulators," it said in a post on social media platform X. "We are therefore voluntarily suspending the rewards functions in TikTok Lite while we address the concerns that they have raised. TikTok Lite, which was rolled out in France and Spain, is a slimmed-down version of the main TikTok app that lets users earn rewards. Points earned by watching videos, liking content and following content creators can then be exchanged for rewards ...

EU raids Chinese security equipment firm over foreign subsidies concerns

During the raids, the European Union officials reportedly accessed the company's ICT system, instilling apprehension among Chinese businesses operating in Europe

EU eases Schengen visa rules for Indians: Costs, processing time explained

With relaxation of Schengen visa rules, frequent Indian travellers will now be able to apply for five-year multiple entry visas, which puts them at par with "visa-free nationals"

Europe fastest-warming continent, temp rising nearly twice avg global rate

Europe is the fastest-warming continent and its temperatures are rising at roughly twice the global average, two top climate monitoring organizations reported Monday, warning of the consequences for human health, glacier melt and economic activity. The U.N.'s World Meteorological Organization and the European Union's climate agency, Copernicus, said in a joint report that the continent has the opportunity to develop targeted strategies to speed up the transition to renewable resources like wind, solar and hydroelectric power in response to the effects of climate change. The continent generated 43% of its electricity from renewable resources last year, up from 36% the year before, the agencies say in their European State of the Climate report for last year. More energy in Europe was generated from renewables than from fossil fuels for the second year running. The latest five-year averages show that temperatures in Europe are now running 2.3 degrees Celsius (4.1 Fahrenheit) above ...

Infosys to acquire German firm in-tech in 450 mn euro all-cash deal

Infosys will acquire a 100% stake in the German engineering R&D services provider, expanding its footprint in Europe

Subsidy investigations by EU trouble Chinese, European cooperation: China

The Chinese commerce official said it would be the fourth investigation initiated by the European Union in the past two months using foreign subsidies legislation against Chinese companies

Swiss women win landmark climate case at top Europe human rights court

The Swiss women, known as KlimaSeniorinnen and aged over 64, said their government's climate inaction put them at risk of dying during heatwaves

Russia declares ‘federal emergency’ after Europe’s third longest river bursts

Europe's third-longest river burst through a dam on Friday, April 5th, flooding at least 10,000 homes. Torrential rain caused the Ural River, originating in the Ural Mountains and flowing into the Cas

'Exports to Europe, Latin America register healthy growth in 2023'

Indian exporters made further inroads in European and Latin American nations in 2023, registering healthy growth in countries such as Romania, Montenegro, Austria, and Guatemala, an official said on Friday. India's merchandise export rose 2.1 per cent to the European Union (EU) in 2023 despite headwinds being faced by large developed markets like the EU and the UK due to high cost of living, weak external demand, and monetary tightening, the commerce ministry official said. "India's export trade expansion has been impressive inspite of global challenges in 2023," the official said. India's merchandise exports have recorded healthy growth in European nations like Romania, Czech Republic, Montenegro, Finland, the Netherlands, Portugal, Luxemburg, Iceland, Ireland, and Austria. "The growth points towards India's trade resilience and growth despite prevailing uncertainties and deceleration of the economies in Europe," the official added. Similarly, in Latin American countries, India's

Euro zone bonds track Treasuries sell-off, Italy spread hits one-month high

On Tuesday, data showed inflation fell in six economically important German states, while national figures showed domestic price pressures eased to their lowest in nearly three years

EU to discuss buying fewer weapons from foreign firms to boost own industry

Some member states, including Germany and France, are pushing for progress on a genuine capital markets union

Doing biz in China growing tougher, more uncertain: European business group

Uncertainty and draconian regulations have drastically raised risks for foreign businesses in China, a report by a European business group said on Wednesday. The lengthy paper by the European Union Chamber of Commerce in China urges China's leaders to do more to address concerns that it says have grown exponentially in recent years. This report comes at a time when the global business environment is becoming increasingly politicised, and companies are having to make some very tough decisions about how, or in some cases if, they can continue to engage with the Chinese market, it says. The study, compiled by the chamber and the China Macro Group consultancy, echoes concerns that have been raised by European and American companies operating in China. Foreign investment fell 8 per cent last year from a year earlier as companies recalibrated their commitments in the world's second largest economy. EU Chamber officials said China's changing business environment partly reflects moves by .

European Union's AI Act sets clear regulatory framework, say experts

Indian startups and companies conducting business in the EU or catering to EU clientele will need to adhere to the standards set forth in the Act

Vodafone exits Italy, sells operations to Swisscom for $8.7 billion

Swiss government-controlled Swisscom said the Vodafone Italia deal will be debt-financed and paid in cash

Volkswagen sees slowdown in vehicle sales growth amid growing competition

The company said on Wednesday it expected a boost to vehicle orders in Western Europe in the coming months from new models including fully electric cars