Page 8 - Europe

Europe saw stronger growth, but Trump's tariffs darkened outlook

As a result, indicators of business and consumer optimism in Europe have fallen

Backing founders building from India for the world: Pearl Agarwal

The pre-seed venture firm is sharpening its investment strategy around emerging AI applications across enterprise software, automation, and industrial analytics

India's military expenditure was nearly 9 times that of Pak in 2024: SIPRI

India's military spending in 2024 was nearly nine times that of Pakistan's expenditure, according to a study released on Monday by a leading Swedish think-tank that comes amid growing tensions between the two countries over the Pahalgam attack. India's military expenditure, the fifth largest globally, grew by 1.6 per cent to USD 86.1 billion while Pakistan's spent USD 10.2 billion, according to the Stockholm International Peace Research Institute (SIPRI). The top five military spenders -- the United States, China, Russia, Germany and India -- accounted for 60 per cent of the global total, with combined spending of USD 1635 billion, it said. China's military expenditure increased by 7.0 per cent to an estimated USD 314 billion, marking three decades of consecutive growth, the study noted. The communist nation accounted for 50 per cent of all military spending in Asia and Oceania, investing in the continued modernisation of its military and expansion of its cyberwarfare capabilities

Will AI help Denmark avoid its Nokia moment as Ozempic boom starts fading?

Designed specifically for big AI projects, Gefion - named after the Norse goddess of fertility - was funded to the tune of $87 million by Novo's nonprofit foundation, in partnership with Nvidia Corp

India announces 3-day state mourning on passing of Pope Francis

The government on Monday announced a three-day state mourning as a mark of respect on the passing away of Pope Francis. Francis, who was the first non-European Pope in nearly 1,300 years, died on Monday. He was 88. In a statement, the Ministry of Home Affairs said, "His Holiness Pope Francis, Supreme Pontiff of the Holy See passed away on April 21. As a mark of respect, three-day state mourning shall be observed throughout India." As per the schedule, two days' state mourning will be on April 22 (Tuesday) and April 23 (Wednesday). Besides, one day's state mourning will be on the day of the funeral, the statement said. During the period of the state mourning, the national flag will be flown at half mast throughout India on all buildings where the national flag is flown regularly and there will be no official entertainment, it added.

Israeli President urges India to boost ties on key geostrategic issues

Israeli President Isaac Herzog on Monday urged India to further deepen bilateral ties by working together on geostrategic issues, especially emphasising on the India-Middle East-Europe Economic Corridor (IMEC) project, which he described as the "future of the world". "We have a huge respect for the nation of India and its leadership. Israelis love your country. I can only anxiously wait to visit your country and host your President and Prime Minister in Israel," Herzog told India's newly appointed Ambassador to Israel J P Singh, who presented his credentials at a ceremony at the President's Official residence. "I wish you great success in your term. We can only go from height to height," the Israeli President said, welcoming India's new envoy. He urged India and Israel "to work together on the geostrategic issues, on the strategic issues, getting the hostages back home, preventing Iran (from acquiring nuclear weapons), moving towards peace and inclusion, connectivity and of course .

US, Italy call IMEC 'top economic, connectivity project of this century'

A US-Italy joint statement takes note of the IndiaMiddle EastEurope Economic Corridor, calling it one of the greatest economic integration and connectivity projects of this century that will connect partners and stimulate economic development and integration from India onward to the United States. The US and Italy will work together to develop the IndiaMiddle EastEurope Economic Corridor (IMEC), one of the greatest economic integration and connectivity projects of this century, connecting partners by ports, railways, and undersea cables and stimulating economic development and integration from India, to the Gulf to Israel, to Italy, and onward to the United States, the joint statement issued Friday said. The United States Italy Joint Leaders' Statement' was issued after US President Donald Trump and Italian Prime Minister Giorgia Meloni's first official meeting in Washington, DC Thursday.

JSW Steel to invest ₹50,000 cr for 10 MTPA green steel for Europe

JSW Steel will be investing over Rs 50,000 crore to create 10 million tonnes per annum of green steel capacity at a plant near the country's financial capital, a top official said on Tuesday. "We will be investing Rs 50,000-60,000 crore for the green steel capacity," Jindal told reporters on the sidelines of an event here. He said this will be a brownfield investment at its plant in Raigad district's Salav and the investment will happen over the next three-four years. In March, the company had announced plans to increase the green steel capacity at Salav to 4 MTPA in phases. The investment is necessitated because of a European mandate on green steel, and Jindal said the 10 MTPA capacity will emit a fifth of the carbon as used by conventional plants currently. Jindal also said that China and Vietnam are trying to dump steel into India, and expected the "vigilant" Government to slap safeguard duties to protect domestic steel makers like his company in a few days. Denying notions of

Belgrade braces for pro-president rally amid rising tensions in Serbia

Chanting patriotic songs, thousands of supporters of Serbia's populist President Aleksandar Vucic gathered in downtown Belgrade on Friday, a day ahead of what authorities expect to be a huge rally in his support. Belgrade was on edge, with authorities preparing for large crowds and potential counter-demonstrations in different parts of Serbia, including an anti-government rally in a southern Muslim-populated part of the country. The rally in the Serbian capital is expected to be a significant moment in Serbia's ongoing political crisis after more than five months of student-led anti-corruption protests triggered by a rail station canopy collapse that killed 16 people in the north of the country on November 1. In Belgrade on Friday, Vucic unveiled a Serbian red blue and white flag which the state-run media said is the largest in the history of the Balkan state. In the central parts of the capital in front of the parliament building, dozens of tents were erected to house Vucic's ...

Defence chiefs from 30 nations to attend Nato talks on future Ukraine force

Britain and France are convening a meeting of defence ministers from around 30 countries on Thursday to press ahead with plans to deploy troops to Ukraine to police any future peace agreement with Russia. The meeting at NATO headquarters the first between defence ministers representing the so-called coalition of the willing comes after a visit to Kyiv last week by senior British and French military officers. It's expected to work on fleshing out an agreement reached at an earlier meeting between leaders. As usual with coalition gatherings, the United States will not take part, but the success of the coalition's operation hinges on US backup with airpower or other military assistance. However, the Trump administration has made no public commitment that it will do so. Amid that uncertainty and US warnings that Europe must take care of its own security and that of Ukraine in future, the force is seen as a first test of the continent's willingness to defend itself and its interests.

Is there a new kind of war playing out for Europe beneath the sea?

In the Baltic Sea, undersea cables and pipelines that power homes, connect data, and sustain economies are reportedly being struck, severed, and quietly repaired repeatedly

Trump tariffs could slow euro growth by up to 1%, says Greek central banker

Comments come against the backdrop of European Union countries weighing approval of a first set of targeted countermeasures on up to $28 billion of US imports in coming days

UK PM, European leaders call US tariffs 'new era for global economy'

Starmer also expressed disappointment over the new tariffs but emphasised that the UK would continue to act in its national interest

Elon Musk hopes US, Europe will create 'zero-tariff' zone in future

Billionaire Elon Musk told Italy League leader Matteo Salvini on Saturday that he hoped in the future the US and Europe could create "a very close, stronger partnership" and reach a "zero-tariff zone". Musk spoke to Salvini in a video conference during the League's congress in Florence. Salvini is the leader of the far-right, anti-migrant League party and vice premier of the Italian conservative government led by Premier Giorgia Meloni. He said that, ideally, there will be a "zero-tariff zone in the future with a free trade zone between Europe and North America". Musk, an adviser to President Donald Trump who owns Tesla, SpaceX and the social media platform X, has played a key role in government downsizing as the head of the newly created Department of Government Efficiency.

US is committed to Nato, but Europe must spend more on defence: Rubio

According to NATO estimates, some of the continent's big economies, such as Italy and Spain, are among those below the current 2 per cent target, at around 1.5 per cent and 1.3 per cent respectively

Rubio arrives for Nato talks as allies await US plans on Europe drawdown

US Secretary of State Marco Rubio and the Trump administration's new envoy to NATO arrived Thursday in Brussels, where the alliance's top diplomats are hoping they'll shed light on US security plans in Europe. European allies and Canada are deeply concerned by President Donald Trump's readiness to draw closer to Russian leader Vladimir Putin, who sees NATO as a threat, as the US works to broker a ceasefire in Ukraine. Recent White House comments and insults directed at NATO allies Canada and Denmark as well as the military alliance itself have raised alarm and confusion, especially with new US tariffs targeting US friends and foes alike. Since Defence Secretary Pete Hegseth warned last month that US security priorities lie elsewhere in Asia and on the US's own borders the Europeans have waited to learn how big a military drawdown in Europe could be and how fast it may happen. In Europe and Canada, governments are working on burden shifting plans to take over more of the load, .

Global leaders vow countermeasures as Trump imposes 'reciprocal tariffs'

Goods from Canada and Mexico are not currently subject to reciprocal tariffs because Trump's prior 25 per cent fentanyl-related duties remain in place on their goods

Wary Europe awaits US Secretary of State Rubio with Nato's future on line

US Secretary of State Marco Rubio travels this week to a gathering of top diplomats from NATO countries and is sure to find allies that are alarmed, angered and confused by the Trump administration's desire to reestablish ties with Russia and its escalating rhetorical attacks on longtime transatlantic partners. Allies are deeply concerned by President Donald Trump's readiness to draw closer to Russian leader Vladimir Putin, who sees NATO as a threat, amid a U.S. effort to broker a ceasefire in Ukraine. Recent White House comments and insults directed at NATO allies Canada and Denmark as well as the military alliance itself have only increased the angst, especially as new US tariffs are taking effect against friends and foes alike. Rubio arrives in Brussels on Thursday for two days of meetings with his NATO counterparts and European officials, and he can expect to be confronted with questions about the future US role in the alliance. For 75 years, NATO has been anchored on American

Danish PM heads to Greenland as Trump seeks control of Arctic territory

Danish Prime Minister Mette Frederiksen is travelling to Greenland on Wednesday for a three-day trip aimed at building the trust of Greenlandic officials at a time that the Trump administration is seeking control of the vast Arctic territory. Prime Minister Mette Frederiksen announced plans for her visit after US Vice President JD Vance visited a US air base in Greenland last week and accused Denmark of underinvesting in the territory. Greenland is a mineral-rich, strategically critical island that is becoming more accessible due to climate change. Trump has said that the landmass is critical to U.S. security. It is part of North America but is a semiautonomous territory belonging to the Kingdom of Denmark. Frederiksen is due to meet the incoming Greenlandic leader, Jens-Frederik Nielsen, after an election last month that produced a new government. She is also to meet with the future Naalakkersuisut, the Cabinet, in a visit due to last through Friday. It has my deepest respect how

Zelenskyy says Russia has committed over 183,000 war crimes in Ukraine

Russia did not immediately comment after business hours on Zelenskyy's remarks, but has previously denied its soldiers have committed atrocities