Page 38 - Europe

Heat scorches Europe as southern Spain temp to reach 45 deg C this month

The mercury in Seville, in southern Spain, is forecast to peak near 45C (113F) later this month, data compiled by Bloomberg show

European stocks rise ahead of US inflation data, ECB and US Fed meeting

LONDON (Reuters) -European stocks rose in early trading on Monday and world stocks were just below 13-month highs ahead of key inflation data and U.S. Federal Reserve and European Central Bank meetings later in the week.

India recognised as responsible partner, voice of Global South: Murmu

President Droupadi Murmu on Wednesday said that India is recognised as a responsible development partner and a voice of the Global South on the global stage, reflecting the country's quest towards becoming a leading power. Addressing the Indian community in the Serbian capital, President Murmu also said that new infrastructure is coming up across India at a breathtaking pace and the country hopes to be a developed nation by 2047, the centenary of its independence. "India is the fastest growing major economy in the world. With a GDP approaching USD 3.5 trillion, we are on the way to becoming the world's third biggest economy before the end of this decade. India is confidently pursuing its ambition to be a developed country by 2047," she said soon after her arrival here on a state visit. On the global stage, India is recognised as a responsible development partner, a First Responder, and a voice of the Global South, she said. "Each of these aspects reflects our quest towards becoming

Bulgaria forms new govt as former political rivals enter uneasy alliance

Bulgaria's parliament on Tuesday formally approved the country's new government proposed by the two main political rivals in a bid to end a 30-month-long political crisis, restore stability and spur economic development in the poorest EU member country. The GERB party of ex-Premier Boyko Borissov, which won the April general election, and the runner-up, the pro-European liberal coalition "We Continue the Change Democratic Bulgaria" have agreed to form the first-ever Bulgarian government where the post of prime minister will change hands halfway through. Lawmakers voted 132-69 to elect Nikolay Denkov, a 60-year-old chemistry professor and former education minister, as prime minister. Denkov is a founding member of the reformist "We Continue the Change" party. In a separate vote, legislators also approved the Cabinet, in which GERB's Maria Gabriel, a former European Commissioner, will serve as deputy head of government and foreign minister. After nine months, Denkov and Gabriel will

Dam collapse in Ukraine triggers emergency; Russia, Kyiv blame each other

The wall of a major dam in southern Ukraine collapsed on Tuesday, triggering floods, endangering Europe's largest nuclear power plant and threatening drinking water supplies as both sides in the war rushed to evacuate residents and blamed each other for the destruction. Ukraine accused Russian forces of blowing up the Kakhovka dam and hydroelectric power station on the Dnieper River in an area that Moscow controls, while Russian officials blamed Ukrainian bombardment in the contested area. It was not possible to verify the claims. The potentially far-reaching environmental and social consequences of the disaster quickly became clear as homes, streets and businesses flooded downstream and emergency crews began evacuations; officials raced to check cooling systems at the Zaporizhzhia Nuclear Power Plant; and authorities expressed concern about supplies of drinking water to the south in Crimea, which Russia illegally annexed in 2014. Both Russian and Ukrainian authorities brought in ..

As the US races ahead, Europe frets about battery factory subsidies

The European Union is trying to assemble the building blocks to produce electric cars, but subsidies are luring companies to the United States

Europe's fintech unicorn Taxfix lays off 120 employees to cut costs

"The macroeconomic funding environment has changed over the past months, and it is, therefore, more important than ever to position ourselves as an independent company for the long term"

OpenAI boss downplays fears ChatGPT maker could leave Europe over AI rules

OpenAI CEO Sam Altman on Friday downplayed worries that the ChatGPT maker could exit the European Union if it can't comply with the bloc's strict new artificial intelligence rules, coming after a top official rebuked him for comments raising such a possibility. Altman is travelling through Europe as part of a world tour to meet with officials and promote his AI company, which has unleashed a frenzy around the globe. At a stop this week in London, he said OpenAI might leave if the artificial intelligence rules that the EU is drawing up are too tough. That triggered a pointed reply on social media from European Commissioner Thierry Breton, accusing the company of blackmail. Breton, who's charge of digital policy, linked to a Financial Times article quoting Altman saying that OpenAI will try to comply, but if we can't comply we will cease operating. Altman sought to calm the waters a day later, tweeting: very productive week of conversations in europe about how to best regulate AI! we

Allies to train Ukrainians on F-16s; Jets no magic weapons, warns Pentagon

Defense Secretary Lloyd Austin said Thursday that European allies are developing a coordinated program to train Ukrainian forces on the F-16 fighter jet, but Pentagon leaders warned that it will be a costly and complex task and won't be a magic solution to the war. Austin said the allies recognize that in addition to training, Ukraine will also need to be able to sustain and maintain the aircraft and have enough munitions. And he said air defense systems are still the weapons that Ukraine needs most in the broader effort to control the airspace. There are no magic weapons, said Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff, who spoke alongside Austin at a Pentagon press conference. He said providing 10 F-16s could cost USD 2 billion, including maintenance. "The Russians have a thousand fourth and fifth-generation fighters, so if you're going to contest Russia in the air, you're going to need a substantial amount of fourth and fifth-generation fighters." As a result,

Nayara Energy exports dip, 0.07 mn tonnes diesel flows to Europe in FY23

Nayara Energy, India's second-biggest private oil refinery, reported a sharp decline in fuel exports as domestic sales surge on retail network expansion and demand rise, a company official said. During calendar year 2022, Nayara reported 61 per cent of sales from the domestic market and the remaining 39 per cent from exports of all products including jet fuel (ATF), diesel and petrol. Out of the total 6.91 million tonne of fuel exported by Nayara during 2022, diesel exports stood at about 4.39 million tonne or roughly 64 per cent of all exports. More than 84 per cent of all fuel exports were to Asia, the Middle East and Africa with only minuscule volumes going to the EU, a company spokesperson said. Nayara sold the bulk of the fuel it produced from its 20 million tonne a year oil refinery at Vadinar in Gujarat through its 6,500+ petrol pumps - the largest fuel retail network by any private company. During January-March 2023, subsequent to meeting domestic demand, Nayara Energy's .

Euro's use in international payments at 3-year low, Yuan's at 5 month high

Data from the Society for Worldwide Interbank Financial Telecommunications, or SWIFT, showed the proportion of cross-border transactions involving Europe's common currency fell to 31.74%

NATO's 'reckless' expansion harms talks on European security: Russian FM

"The situation in the Organisation for Security and Cooperation in Europe is "deplorable" and "continues to worsen due to the unwillingness of NATO members to moderate their ambitions," he added

Five on trial in Germany over plot to kidnap health minister, topple govt

Five people go on trial in Germany on Wednesday accused of planning a far-right coup and plotting to kidnap the country's health minister. The four men, aged 44 to 56, and a 75-year-old woman are accused of founding or being members of a terrorist organisation and treason. Federal prosecutors say the group is linked to the Reich Citizens scene that rejects the legitimacy of Germany's postwar constitution and has similarities to the Sovereign Citizens and QAnon movements in the United States. Prosecutors say they intended to create conditions similar to civil war by using explosives to cause nationwide blackouts, then kidnapping Health Minister Karl Lauterbach a prominent advocate of strict coronavirus measures. There were no indications the group, which called itself United Patriots, was close to launching a coup. But prosecutors said the group's procurement of weapons and money showed they were "dangerous criminals who wanted to implement their plans. The men, whose names weren'

Russia's parliament denounces Europe's Treaty on Conventional Armed Forces

Russia's lower house of parliament, the State Duma, has formally denounced the Treaty on Conventional Armed Forces in Europe (CFE), according to a statement published on its website

Will visit UK on Europe tour to seek military aid: Ukrainian prez Zelenskyy

President Volodymyr Zelenskyy will visit Britain on Monday, as the staunch ally of Ukraine prepares to give more military aid in an effort to change the course of the war. It will be the fourth European country Zelenskky has visited in the past few days. He made an unannounced visit to Paris on Sunday evening to meet French President Emmanuel Macron, after trips to Germany and Italy, where he met those countries' leaders and Pope Francis. A message posted Monday on Zelenskyy's official Telegram Channel said: "Today London. The UK is leading the way when it comes to expanding our capabilities on the ground and in the air. This cooperation will continue today. I will meet my friend Rishi. We will conduct substantive negotiations face-to-face and in delegations. Sunak's office confirmed the two leaders would meet at Chequers. the prime minister's country retreat outside London. The U.K. has become one of Ukraine's major military allies. Last week Britain announced it was sending Ukr

China, Russia increasing military collaboration, Japanese minister warns

Japanese Foreign Minister Yoshimasa Hayashi expressed concern on Saturday about Russian and Chinese military cooperation in Asia and said the security situation in Europe could not be separated from that in the Indo-Pacific region since Moscow's full-scale invasion of Ukraine. Speaking at a meeting of European and Indo-Pacific foreign ministers in Sweden, Hayashi said Russia's war in Ukraine had shaken the very foundation of the international order and must face a united response by the international community. Otherwise, similar challenges will arise in other regions and the existing order which has underpinned our peace and prosperity could be fundamentally overturned, Hayashi said. Japan firmly backs Ukraine in the war but China says it remains neutral while declaring a no limits relationship with Moscow and blaming the US and NATO for provoking the conflict. Japanese Prime Minister Fumio Kishida visited the Ukrainian capital, Kyiv, in March at the same time as Chinese President

European tour issues more fines for 26 players who competed for LIV

Equipped with a favorable court ruling, the European tour has expanded its sanctions against players who competed in LIV Golf or Asian Tour events without permission over eight months. The tour already has issued fines of 100,000 pounds ($125,000) to 17 players who played in the first two LIV Golf events outside London and Portland, Oregon. Now it is going after 26 players with fines that range from 12,500 pounds to 100,000 pounds for each tournament they played without a release. The amount depends on what the tour deems caused a negative effect on the European tour. Players also could face suspensions up to eight regular European tour events on the schedule if they pay their fines and remain members. Any suspension would not start until the Porsche European Open in Germany on June 1-4. Sergio Garcia was the only player who did not pay the initial fine. Garcia, Lee Westwood, Ian Poulter and Richard Bland resigned their memberships last week. Henrik Stenson told Golf Digest he ha

Electric bikes are breaking through in Germany, Europe's carmaking capital

Battery-powered two-wheelers will outsell traditional bikes in Germany for the first time in 2023, according to projections from the country's industry group

Europe to build satellite constellation akin to SpaceX's Starlink: Report

A group of European space and telecommunications players have come together to form a partnership to bid on the European Commission's IRIS2 multi-orbit secure satellite constellation

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