European Union

Bankers face EU privacy wall in race to stem evolving credit risk

European banks are struggling to assess growing exposure to wildfires, floods and droughts as data-privacy rules limit access to detailed information on properties and insurance coverage

India secures 2.8 million tonnes European Union steel quota: Official

India has received country-specific tariff-rate quota of 1.9 million tonne (MT) annually for steel exports to the European Union, while the government expects exporters to secure another 0.9 MT through residual quotas, taking the total to 2.8 MT, a commerce ministry official said on Thursday. With this, India has secured over 80 per cent of its exports to the European Union (EU). Last fiscal, India exported about 3 MT of steel goods. The Tariff-Rate Quota (TRQs) follow the European Union's Steel Overcapacity Regulation, which came into force on July 1 this year. It is aimed at ensuring protection for the EU's steel industry against the effects of global overcapacity. It sets free-of-duty quotas at 18.3 MT, with a 50 per cent duty for out-of-quota imports and a melt-and-pour regime to enhance transparency. As the regulation is in place from July 1, Indian exporters have already started availing the quota and shipping steel to the 27-nation bloc, the official said, adding that "free .

'Hostile act': Trump warns EU with tariffs over Canada's associate status

The EU has proposed making Canada its first associate member, prompting Trump to warn of 'very heavy tariffs' if he sees the move as a 'hostile act' by Europe

Is Canada joining the EU? The story behind its 'associate member' plan

The EU wants Canada to become its first 'associate member', paving the way for closer economic and defence ties, but the proposed status has no established legal framework yet

Trump's 51st-state push drives Canada closer to the European Union

The invitation by the EU for Canada to become an "associate member" is a sign of Trump's brand of diplomacy, which often involves threatening America's closest friends

European Commission Prez wants Canada to become EU's first associate member

European Union lawmakers gave a standing ovation after she made the proposal and then walked over to embrace Canada's Prime Minister Mark Carney,

EU president backs AI slowdown, to invite frontier labs for talks

Von der Leyen's comments in her annual speech to the European Parliament in Strasbourg came amid growing ‌worries about the potential danger posed by artificial ​intelligence

EU chief von der Leyen proposes ban on social media for children under 13

European Commission President Ursula von der Leyen proposed banning children under 13 from accessing social media, online games and chatbots on Wednesday during her annual State of the European Union speech in Strasbourg. "I am aware that many perceive the power of Big Tech as overwhelming and impossible to roll back. I disagree," said the EU executive. "We do not have to accept addictive features. We do not have to accept children being drawn into ever more extreme content. We do not have to accept that girls have their photos used for AI-generated sexualized images," she said. Von der Leyen said that under her proposal "mini accounts" chaperoned by guardians would be granted to kids aged 13-15. The EU's 27 member nations will now vote on the proposal, which could spark tensions with US President Donald Trump, who has long criticized Europe's tech regulations.

No major change in imports, exports after India-EU FTA: Schaeffler India MD

Schaeffler India MD and CEO Harsha Kadam says the pact will offer similar tariff benefits to European companies, limiting any major competitive advantage for the firm.

Current inflation shock likely to last longer than expected: ECB president

The ECB raised interest rates this week for the second time since the Iran war sent oil and gas prices soaring

India-EU FTA heads to EU Council for approval, signing likely in December

"If authorized by the Council, this will be the largest trade agreement ever concluded by both the EU and India," the European Commission said in a statement

Anthropic gives EU access to Mythos months after model's release

"Following our constructive engagement with Anthropic, we can confirm that the EU's cybersecurity agency ENISA has been granted access to Mythos 5 and is testing it now," said Thomas Regnier

Ukraine says it needs $27 bn more as Europe scrambles to understand why

An unexpected request from President Volodymyr Zelenskyy offered a stark reminder that the cost of the war will rise, challenging Europe

EU to boost Greenland investment amid Trump's campaign to control island

European Commission President Ursula von der Leyen ​is expected to unveil plans to invest in sectors including critical minerals, satellite communications and renewable energy in Greenland

EU seeks new Russia sanctions after drone attack as Germany probes sabotage

Lithuanian Foreign Minister said, "Our goal is to show that these activities will neither intimidate us nor prevent us from supporting Ukraine and maintaining our pressure on Russia."

What does the EU's 'very large search engine' tag mean for ChatGPT?

The designation follows ChatGPT reporting more than 45 million average monthly users in the EU -- the threshold for classification under the DSA

Brics nations oppose EU's CBAM, say it burdens developing economies

Brics nations said CBAM and similar measures "undermine efforts by developing countries aimed at addressing the adverse impacts of climate change, increasing adaptive capacity and resilience"

Apple sets 5% commission for apps outside App Store in European Union

The company last year changed App Store rules and fees in the EU after the bloc's antitrust regulators ordered it to remove commercial barriers ‌

Putin says Russia will respond in kind if EU nations seize Russian vessels

TASS cited Putin as saying of those ​measures: "Of course, this is nothing short of piracy and ‌banditry. And if this is actually put into practice, ​we will be forced to respond in kind."

Cyprus to supply natural gas to Europe by 2028 as EU seeks new sources

European consumers can expect natural gas from an undersea deposit off Cyprus to help meet their energy needs as early as March 2028, the island nation's energy minister said. Michael Damianos said the East Mediterranean is fast becoming an alternative energy source for European nations as Russia's war in Ukraine and upheaval in the Middle East compel the continent to seek out new sources. Damianos said partners TotalEnergies of France and Italy's Eni made a final decision last month to proceed with developing the Cronos natural gas field off Cyprus' southern coast. The project will be the first time gas from east Mediterranean deposits is supplied to European markets. "It's important for Europe at this time because of the war in Ukraine, because of this situation in the Middle East, that Cyprus is going to be an alternative source of gas," Damianos told The Associated Press in an exclusive interview Friday. According to the Eni-TotalEnergies consortium timetable, work on a pipelin