Page 13 - European Union

India, EU begin 13th round of trade talks, hope to fast-track deal

India and the European Union (EU) on Monday started the next round of negotiations for the proposed free trade agreement (FTA), an official said. After the 13th round of talks, European Commissioner for Trade Maros Sefcovic will visit India on September 12 to take stock of the progress of negotiations with Commerce and Industry Minister Piyush Goyal, the official said. As there is a deadline to conclude the talks by the end of this year, this round of talks is important. The 12th round of talks concluded in Brussels. In June 2022, India and the 27-nation EU bloc resumed negotiations for a comprehensive FTA, an investment protection agreement and a pact on geographical indications after a gap of over eight years. It stalled in 2013 due to differences on the level of opening up of the markets. On February 28, PM Narendra Modi and the European Commission president agreed to seal a much-awaited free trade deal by the end of this year. Besides demanding significant duty cuts in automo

13th round of FTA talks from Monday: India, EU hope to fast-track deal

The outcome of this round of negotiation will be crucial in determining the next steps, as both sides weigh the possibility of a political call to break the deadlock on the unresolved issues

India, EU advance talks on trade agreement, target year-end deal

Eyeing to conclude their ambitious free trade deal soon, India and European Union will hold two rounds of crucial negotiations in next one month to overcome differences in areas of rules of origin, market access and duties on wine and dairy products, authoritative sources said on Sunday. European Commission's agriculture commissioner Christophe Hansen and trade chief Maros Sefcovic are visiting India this week to hold talks with their Indian interlocutors as both sides look to seal the free trade agreement (FTA) by end of this year. The European Union is India's biggest trade partner with bilateral trade in goods recording USD 135 billion in the financial year 2023-24. Besides the trade deal, India and the EU are also in the process of firming up a series of transformative initiatives including a new politico-strategic vision and key foundational frameworks to expand defence ties -- moves that came against the backdrop of increasing geopolitical uncertainty. Significantly, the EU w

US, EU plan to discuss fresh Russia sanctions as Ukraine war drags on

A team of European officials, led by EU sanctions envoy David O'Sullivan, will visit the US Treasury on Monday to discuss various forms of economic pressure to exert on Russia, including new sanctions, a person familiar with the meeting told The Associated Press. The person, who spoke on the condition of anonymity to preview the meeting, said Treasury Secretary Scott Bessent spoke with the head of the European Commission, Ursula von der Leyen, on Friday ahead of the meeting as a follow-up to Vice President J D Vance's conversation with the top European official a day earlier. The meeting comes as President Donald Trump has grown increasingly frustrated by his inability to end the 3 1/2-year Russian war in Ukraine prompted by Moscow's invasion. Trump has tried in vain to get Russian President Vladimir Putin to agree to sit down with Ukrainian President Volodymyr Zelenskyy for direct talks aimed at ending the war despite holding a summit with the Russian leader last month in Alaska.

Google hit with $3.45 billion EU antitrust fine over adtech practices

The Commission said Google favoured its own online display technology services to the detriment of rivals and online publishers and that it abused its market power since 2014 until today

EU pork faces anti-dumping duties up to 62.4% as China steps up tariffs

China has announced provisional anti-dumping duties on EU pork, ranging from 15.6 per cent to 62.4 per cent, hitting major exporters like Spain, Denmark, and the Netherlands

India will continue to buy Russian oil as required, says FM Sitharaman

Finance Minister Nirmala Sitharaman said India will keep buying Russian oil, stressing that the country's energy decisions are guided by national interest and citizens' needs

Trump urges European leaders to stop Russian oil imports, cites Ukraine war

In a 'Coalition of the Willing' call, US President Donald Trump urged European leaders to stop buying Russian oil that funds the war in Ukraine and called for stronger security support

EU ban on Russian fuel: India's diesel exports to Europe surge 137% in Aug

Analysts credited the surge in Europe's demand to multiple factors, including an unexpected early maintenance at a major refinery and projected winter demand

PM Modi, EU leadership pledge to conclude FTA negotiations by year-end

PM Modi held a joint phone call with EU leaders, pledging to conclude the FTA talks by year-end, discuss the 2026 India-EU Summit, and advance the India-Middle East-Europe Economic Corridor (IMEEC)

Russia calls GPS jamming claims on von der Leyen's plane 'preposterous'

Russian Foreign Ministry spokeswoman Maria Zakharova said Moscow will continue to combat "the West's web of lies" aimed at discrediting Russia on the world stage

EU chief Ursula Von der Leyen's flight hit by suspected Russian GPS jamming

EU chief's flight lost navigation signals near Bulgaria's Plovdiv airport, highlighting rising GPS jamming across Europe since Russia's invasion of Ukraine

European defence leaders meet amid outrage over Russian airstrike on Kyiv

European defence ministers are meeting in Copenhagen to discuss the war in Ukraine, the day after a Russian air assault on Kyiv killed 23 people and badly damaged a European diplomatic compound. Outrage over the attack propelled the political leaders of Europe's armed forces to condemn Russia even before Friday's meeting and call for stronger measures on Moscow like seizing frozen assets, further sanctions and increasing support for Ukraine's military and membership in the European Union. They will also discuss European troops' deployment in Ukraine to guarantee security and monitor a peace that seems distant as American efforts to broker peace between Ukraine and Russia appear stalled. Everybody understands that, considering how (Russian President Vladimir) Putin is mocking the peace efforts, the only thing that works is pressure, said Kaja Kallas, foreign policy chief for the European Union. Two missiles landed about 50 metres from an EU diplomatic mission in Kyiv, shattering the

Tesla EU sales plunge 40% in July as anger at Musk drives 7th monthly drop

Europeans angry at Elon Musk still aren't buying his cars months after the billionaire predicted a major rebound in Tesla sales, data released Thursday shows. Tesla sales plunged 40 per cent in July in the 27 European Union countries compared with the year earlier even as sales overall of electric vehicle soared, according to the European Automobile Manufacturers' Association. Meanwhile sales of Chinese rival BYD continued to climb fast, grabbing 1.1 per cent market share of all car sales in the month versus Tesla's 0.7 per cent. Tesla stock fell 1.5 per cent in afternoon trading Thursday. Musk angered many Europeans by wading into politics there, embracing far-right candidates, calling a British prime minister an evil tyrant who belongs in prison and telling Germans things will get very, very much worse in their country if they didn't vote for the anti-immigrant Alternative for Germany party. Protests broke out in several cities, including a hanging of the billionaire in effigy in

Russian missiles hit Ukraine, damage EU mission and British council offices

Russia said its attack had hit military industrial facilities and air bases, and that Ukraine had also attacked Russian targets. The Kremlin said it was still interested in pursuing peace talks

Finland's President Stubb, PM Modi discuss India-EU trade and tech ties

Finland's President Alexander Stubb on Tuesday reiterated his country's support for an early conclusion of a mutually beneficial India-EU Free Trade Agreement in a phone call to Prime Minister Narendra Modi. A PMO statement said the two leaders also reviewed progress in the India-Finland bilateral relationship and reaffirmed their commitment to enhance partnership in emerging fields, including quantum technologies, 6G, artificial intelligence, cybersecurity and sustainability. Stubb affirmed support for the success of the AI Impact Summit to be hosted by India in 2026, it added. The statement said Stubb shared his assessment with Modi on the recent meetings held between the leaders of Europe, the United States and Ukraine in Washington on the resolution of the conflict in Ukraine. Modi reiterated India's consistent support for the peaceful resolution of the conflict and early restoration of peace and stability, it added.

EU clears twice-yearly HIV shot lenacapavir, paving way for Europe rollout

The drug, called lenacapavir, is a form of pre-exposure prophylaxis (PrEP) that prevents the virus from replicating and spreading within the body

SOCAR Turkey CFO Teymur Abasguliyev to head Nayara Energy as CEO

Russian oil giant Rosneft-backed Nayara Energy has appointed Teymur Abasguliyev as the new CEO of the company, replacing a European national who had to resign following EU sanctions on the company. The appointment of Abasguliyev, an Azerbaijan national who currently as the chief financial officer at SOCAR Turkiye Enerji A.S, was confirmed by the Nayara board at its meeting on Tuesday, two sources aware of the matter said. Nayara spokesperson did not immediately respond to an email sent for comments. Educated at Azerbaijan's Baku State University, Abasguliyev previously worked at PricewaterhouseCoopers from 1996 to 2013. He has been the CFO of Group Companies at SOCAR Trkiye Enerji A.S. since 2013. Nayara Chief Executive Alessandro Des Dorides had to quit shortly after the European Union imposed sanctions on the refiner as part of a new raft of measures against Russia over its war with Ukraine. Sergey Denisov, who was Nayara's Chief Development Officer, was named the interim CEO ..

EU defends digital tax rules after Trump warns of tariffs on tech firms

Trump has long railed against EU tech and antitrust regulation over US tech giants including Alphabet Inc.'s Google, Apple Inc. and Meta Platforms Inc

Commerce Secretary Sunil Barthwal to push FTA talks with EU in September

Finalising a trade deal with the trade bloc has been a key priority for New Delhi, and it has now become even more critical