Page 33 - Europe

Goldman Sachs lifts benchmark European share index's 12-month target to 500

Goldman's target is roughly 1% above the index's January 2022 high. The U.S. Federal Reserve began raising interest rates in March of the year

Optimistic about EFTA deal with India before 2024 polls, says Swiss envoy

Switzerland's Ambassador to India, Ralf Heckner, has expressed optimism that the crucial European Free Trade Association (EFTA) deal with the country would be wrapped up before the 2024 general elections. Heckner stressed on the importance of the proposed trade deal for unlocking innovation and investment opportunities. "Both sides have been negotiating very closely and seriously over the last more than 12 months. I remain positive that the deal would be wrapped up before the (2024) elections," he told PTI. The envoy was recently in the city to unveil the Kolkata chapter of the Swiss-India Chamber of Commerce. Parliamentary elections in India are due in early 2024. "If India wants innovation, it needs to work with about 12 to 15 countries, and one of those countries is Switzerland for a world of investments and innovation," We will have a more strategic innovation relationship with India, Heckner stated. Noting the sharp rise in visa application processing numbers, which hit a r

Preventing carbon leakage CBAM's aim: Europe as India threatens retaliation

The European Commission on Friday said the sole aim of CBAM -- a tax the European Union plans to impose on energy-intensive goods from countries like India and China -- is to prevent carbon leakage, a situation where companies decide to shift out their production from a country with stringent policies. European Commissioner Wopke Hoekstra made this statement at a press conference at the UN climate talks here even as India's Commerce and Industry Minister Piyush Goyal threatened retaliatory action at an event in New Delhi. Hoekstra said, "CBAM's sole aim is to prevent carbon leakage." Peter Liese, a German politician and a member of the European Parliament, said the bloc aims to reduce emissions by 55 percent by 2030 and that achieving such a significant reduction without CBAM would not be feasible. Stressing that CBAM is crucial for funding the bloc's climate goals, he cautioned that any attempt to dismantle it would have far-reaching consequences beyond its scope. "Any agenda to .

Asia-Europe LNG spread at widest level in almost two years: S&P Global

The spread between the Japan Korea Market, used as an Asian benchmark, and the Title Transfer Facility, the European gas benchmark, was assessed at $2.79 per million British thermal units on Wed

Germany remains Europe's top destination for foreign direct investment

Other countries such as Switzerland and France have also noted declines as companies lean towards mergers and acquisitions rather than investments in an uncertain economic environment

Europeans get relief as inflation falls to 2.4%, lowest in over two years

Europeans again saw some relief as inflation dropped to 2.4% in November, the lowest in more than two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy's ability to grow. Inflation for the 20 countries using the euro currency fell from an annual 2.9% in October, according to numbers released Thursday by Eurostat, the European Union's statistics agency. It's a far cry from the peak of 10.6% in October 2022 as an energy crisis left Europe's households and businesses struggling to make ends meet. The new figure is close to the European Central Bank's inflation target of 2% following a rapid series of interest rate hikes dating to summer 2022. But the tradeoff is stalled economic growth. With energy prices plunging 11.5% from a year earlier, it raises expectations that the ECB would hold rates steady for the second time in a row at its next meeting Dec. 14. ECB President Christine Lagarde reiterated this week that the ban

After Birmingham, Central England city of Nottingham declares bankruptcy

Nottingham, a city in central England's Midlands region, on Wednesday declared itself effectively bankrupt after its council failed to deliver a balanced budget for the year. Nottingham City Council, run by the Opposition Labour Party, issued a Section 114 notice over a "significant gap" in the local authority's budget even as it stressed that it is not bankrupt and is able to meet its staff salary obligations. The announcement makes Nottingham the second city to declare financial failure this year after Birmingham City Council issued a similar notice in September. A report discussed at the council's Executive Board meeting on 21 November outlines the council's latest financial position and highlights that a significant gap remains in the authority's budget, due to issues affecting councils across the country, including an increased demand for children's and adults' social care, rising homelessness presentations and the impact of inflation, a Nottingham City Council statement ...

Exicom announces entry into UK, Europe, plans to strengthen distribution

Power management solutions provider Exicom on Tuesday announced its entry into the UK and Europe markets and said it plans to strengthen its distribution channel and will provide EV chargers through direct sales channels. As part of this, the company, which has strong presence in India, Southeast Asia, and the Middle East, also rolled out a range of scalable and user-friendly DC fast chargers at the London EV show, according to a release. The company said as it enters the UK market through the London EV Show 2023, its primary aim is to simplify EV charging, guaranteeing its reliability and future adaptability, aligning with the UK government's vision of achieving zero-emission vehicles by 2035. The nearly three decade-old Indian firm operates under two business verticals -- electric vehicle charger solutions for home and businesses while the and second vertical focuses on critical power solutions business, wherein the company services critical digital infrastructure -- providing ...

Dutch leader who backed Nupur Sharma on 'Prophet' row wins elections

Only once in recent Dutch history has the leader of the biggest party not become prime minister

EU lawmakers reject 50% chemical pesticide usage cut by 2030 proposal

European Union lawmakers on Wednesday rejected a plan to reduce the use of chemical pesticides by 50% by 2030 and to ban all pesticide use in areas such public parks, playgrounds and schools. After a series of amendments watered down the proposal of the EU's executive Commission, the bill was rejected in a 299 to 207 vote, with 121 abstentions. It buried the bill for good and any new proposal would need to start from scratch after June elections for members of the European Parliament. This is a bitter blow for the protection of the environment and public health. To put it bluntly, the majority of MEPs put the profits of big agri over the health of our children and the planet, said Sarah Wiener, a Green lawmaker who was rapporteur for the proposal. There is not going to be a new sustainable use of pesticides regulation, Wiener said. The European Commission said last year that current rules limiting the use of pesticides were too weak and had not been applied consistently across the

5 EU nations, Canada to join genocide case against Myanmar at UN court

Five European countries and Canada are seeking to join a case brought by Gambia at the United Nation's highest court that accuses Myanmar of committing genocide against its Rohingya minority. The International Court of Justice said on Thursday that Denmark, France, Germany, the Netherlands, and the UK had joined with Canada in filing a declaration of intervention in the case. The Maldives filed a separate declaration. Under the court's rules, the declarations mean those countries will be able to make legal arguments in the case brought in 2019 following international outrage at the treatment of the Rohingya, a Muslim minority. Hundreds of thousands fled to neighbouring Bangladesh amid a brutal crackdown by Myanmar forces. Gambia argued that it and Myanmar are both parties to the 1948 convention outlawing genocide and that all signatories have a duty to ensure it is enforced. It asked the court to declare Myanmar in breach of the convention. The court has already ruled it has ...

TVS Motor Company joins hands with Emil Frey for key European markets

This partnership signifies a significant step towards global expansion for TVS Motor Company, leveraging Emil Frey's extensive distribution network and deep market insights in Europe

India signs deals to export 500,000 tons of new season basmati rice

After imposing a ban on non-basmati white rice exports in Jun to stabilize domestic prices, India set a floor price, or minimum export price (MEP), of $1,200 a ton for overseas sales of basmati in Aug

Biocon Biologics targets top three biosimilar spot: Shreehas Tambe

The opportunity ahead of us is massive because over the next 10 odd years until 2032, we see 55 blockbuster molecules and biologics going out or losing exclusivity, says Tambe

Reliance to take 'Swadesh' store to US, Europe retailing traditional art

Country's leading retailer Reliance Retail has plans to take its Swadesh store, retailing traditional Indian art and craft, to the US and Europe. Reliance Retail on Wednesday opened its first standalone store of Swadesh at Hyderabad, which was inaugurated by Nita Ambani, Founder and Chairperson of Reliance Foundation. Spread over 20,000 square feet, Swadesh store would have over 400 products of handmade textiles, handicrafts, agricultural products that are listed with geographical indications. It has facilitated the sourcing of 100 per cent authentic crafted products, directly from artisan communities having signed an agreement with the Ministry of Textiles. "Swadesh is an ode to India's traditional arts and artisans. It's our humble initiative to preserve and promote our country's age-old arts and crafts. Swadesh highlights the spirit of 'Make in India' and offers respect and sustenance to our skilled craftsmen and craftswomen," said Nita Ambani. Swadesh products are the pride of

Protest marches by thousands in Europe demand halt to bombing in Gaza

Thousands of pro-Palestinian demonstrators demanding a halt to Israel's bombardment of Gaza marched in Paris, Berlin and other European cities on Saturday. The marches reflected growing disquiet in Europe about the mounting civilian casualty toll and suffering from the Israel-Hamas war, particularly in countries with large Muslim populations, including France. The Palestinian death toll in the Israel-Hamas war has reached 9,448, according to the Hamas-run Health Ministry in Gaza. In Israel, more than 1,400 people have been killed, most of them in the Oct 7 Hamas attack that started the war. At a Paris rally that drew several thousand protesters, demonstrators called for an immediate cease-fire in Gaza and some shouted Israel, assassin! In central London, streets were blocked by protesters chanting, Cease-fire now and I believe that we will win. Banners on a sound-system truck at the Paris march through rain-dampened streets read: Stop the massacre in Gaza. Demonstrators, many carry

Officials widen ban on Meta's behavioural advertising to most of Europe

European officials widened a ban on Meta's behavioural advertising practices to most of Europe on Wednesday, setting up a broader conflict between the continent's privacy-conscious institutions and an American technology giant. Behavioural advertising, used by Meta's Facebook and Instagram among many other tech companies, involves observing individual behaviour such as browsing habits, mouse clicks and app usage, then using that data to build profiles for targeting ads. The decision by the European Data Protection Board represents a sharp escalation of a tussle that began in Norway, where privacy officials imposed a daily fine of 1 million kroner - roughly $90,000 - on Meta for obtaining that data without adequate consent. Those fines have been piling up since August 14. Meta said it has cooperated with regulators and pointed to its announced plans to give Europeans the opportunity to consent to data collection and, later this month, to offer an ad-free subscription service in Europ

Inflation in Europe region eased to 2.9% in October on lower fuel prices

The inflation that has been wearing on European consumers fell sharply to 2.9% in October, its lowest in more than two years as fuel prices fell and rapid interest rate hikes from the European Central Bank took hold. But that encouraging news was balanced by official figures showing economic output in the 20 countries that use the euro shrank by 0.1% in the July-September quarter. Inflation fell from an annual 4.3% in September as fuel prices fell by 11.1% and painful food inflation slowed, to 7.5%. The drop to under 3% is down from the peak of over 10% in October 2022 and puts the inflation figure at least within shouting distance of the European Central Bank's target of 2% considered best for the economy. But growth disappeared as output shrank after months of stagnation near zero.

Happy Halloween: Origin, history, importance and reason behind celebration

Halloween has been around for over 1,000 years. Today, Halloween is viewed as an occasion for dress-up and fun, particularly for youngsters. Halloween is celebrated in Europe and America on 31 Oct

London wins back its Europe's largest stock market crown from Paris

London had lost its status as Europe's biggest stock market last November, extending an equity slump that stretched back to Britain's vote to leave the European Union in 2016