Page 13 - European Union

Swiss glaciers shrink 3% this year, fourth-biggest retreat on record

Switzerland's glaciers have faced enormous melting this year with a 3 per cent drop in total volume the fourth-largest annual drop on record due to the effects of global warming, top Swiss glaciologists have reported. The shrinkage this year means that ice mass in Switzerland home to the most glaciers in Europe has declined by one-quarter over the last decade, the Swiss glacier monitoring group GLAMOS and the Swiss Academy of Sciences said in their report Wednesday. Glacial melting in Switzerland was once again enormous in 2025, the scientists said. A winter with low snow depth combined with heat waves in June and August led to a loss of 3 per cent of the glacier volume. Switzerland is home to nearly 1,400 glaciers, the most of any country in Europe, and the ice mass and its gradual melting have implications for hydropower, tourism, farming and water resources in many European countries. More than 1,000 small glaciers in Switzerland have already disappeared, the experts said.

EU pushes to release €140 bn from frozen Russian assets for Ukraine aid

Backing for the long-standing proposal to leverage the assets has gained traction after the US under President Donald Trump halted its direct support for Ukraine

Europe to launch first carbon import tax to curb emissions, stop leakage

The European Union will launch its first import tax on steel, cement, aluminium and more to reduce emissions and prevent companies from shifting production abroad

India-EFTA trade pact to take effect on Oct 1 with $100 bn investment plan

The free trade agreement between India and the four-nation European bloc EFTA will come into force from Wednesday under which New Delhi has received an investment commitment of USD 100 billion in 15 years from the grouping while allowing several products such as Swiss watches, chocolates and cut and polished diamonds at lower or zero duties. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. It was signed on March 10, 2024. Domestic customers will get access to high-quality Swiss products such as watches, chocolates, biscuits, and clocks at lower prices as India will phase out customs duties under the trade pact on these goods over 10 years. The bloc committed an investment of USD 100 billion -- USD 50 billion within 10 years after the implementation of the agreement and another USD 50 billion in the next five years - which would facilitate the creation of one million direct jobs in India. This is a first-of-its-kind pledge agree

Moldova's pro-EU party wins pivotal election in setback for Russia

"This is not just a party's victory" it is Moldova's victory. The European path is our way forward," Sandu said on X

ECB mulls reprieve for Deutsche, BNP amid India bond clearing row

Lenders are discussing a potential solution with the ECB about easing charges imposed after Europe's markets agency withdrew recognition of the CCIL and other agencies three years ago

EU gears up to open 20 anti-dumping probes against Chinese products

The EU is preparing 20 anti-dumping investigations against China to protect European industries from cheap imports and overcapacity in Chinese manufacturing

Italian dy PM confirms support for finalisation of FTA between EU, India

Italy's Deputy Prime Minister Antonio Tajani has met External Affairs Minister S Jaishankar and Commerce Minister Piyush Goyal on the sidelines of the UN General Assembly session here and expressed Rome's commitment to the finalisation of the Free Trade Agreement between India and the European Union. Antonio Tajani in a post on X on Thursday described the meeting as "important" and said he would be visiting India in the coming months. "In New York, I also had important meetings with the Indian Foreign Minister @DrSJaishankar and the Commerce Minister @PiyushGoyal," said Tajani. "Italy and India share a strategic political and economic partnership that we intend to strengthen with my further visit to India in the coming months," he added. Stating that India is a priority country, he said, "...for this reason I wanted the 'India' measure of 500 million euros to support our exporting companies". "I confirmed Italy's support for a rapid finalisation of the Free Trade Agreement," he .

Nearly half of US firms in Europe expect declining economic ties: Report

The survey, carried out among 52 US-controlled members between September 8 and 16, showed that reducing tariffs was still the number one priority

Apple pushes EU to repeal tech rules citing delayed features, app risks

The request comes as the European Commission reviews the law, marking its first evaluation of the act's effectiveness and its capacity to respond to emerging technologies, including AI

European banks to launch euro stablecoin, challenge US crypto dominance

The European banks' new Amsterdam-based company is expected to launch its stablecoin in the second half of next year

China rejects Trump's criticism, says US and EU also trade with Russia

Dismissing US President Donald Trump's criticism that India and China are the "primary funders" of the Ukraine war through purchases of Russian oil, Beijing on Wednesday pointed out that America and the European Union are also engaging in trade with Moscow. Addressing a media briefing here, Chinese Foreign Ministry spokesperson Guo Jiakun warned that Beijing will take countermeasures to safeguard its interests if its companies' normal trade with Russia is obstructed, as he rejected Trump's criticism. An overwhelming number of countries, including the US and EU, are engaging in trade with Russia, he said, reminding the American leader that Washington too is indulging in trade with Moscow. Chinese and Russian companies' normal exchanges and cooperation are in line with the World Trade Organisation (WTO) rules and market principles, Guo said, adding that Beijing's actions are not targeted against any third party and "should not be interfered with and influenced". He also reiterated th

EU looks east: Why India must seize the moment to clinch its FTA deal

The European Union has shown flexibility in its FTA policy. India must capitalise

EU questions Apple, Google and Microsoft on steps to curb financial scams

The EU is increasing its regulatory scrutiny of major US technology companies via the Digital Services Act

EU to create Palestinian donor group, financial instrument to rebuild Gaza

Calling for an end to violence, which has claimed the lives of at least 65,283 people in Gaza, Ursula von der Leyen said that the only realistic peace plan is based on the solution of two states

Jaishankar joins EU foreign ministers in New York, discusses Ukraine, Gaza

In a press remark following the meeting, Kallas underscored the importance of partnerships with India, Brazil, and Mexico in protecting the rules-based international order

India has not significantly advanced its CBAM preparedness, says GTRI

With just 100 days left for the European Union to impose a carbon tax on several products, including metals, the government and the Indian exporters both have not yet taken significant steps to address this barrier, think tank GTRI said on Sunday. Indian exporters of steel and aluminum are staring at a fresh cost shock as the European Union (EU) begins collecting its Carbon Border Adjustment Mechanism (CBAM) levy from January 1, 2026. The CBAM Regulation notified in May 2023, will initially cover iron and steel, aluminum, cement, electricity, hydrogen, and fertilisers. Over the next few years, the EU plans to extend CBAM to cover all major industrial products. It is designed to equalise carbon costs between EU-made and imported goods. From January 2026, the EU will charge a carbon tariff on selected imports, using the EU Emissions Trading System (ETS) price and adjusting for any carbon price already paid in the exporting country. "Despite having a two-year transition period since

EU to stop Russian LNG imports, targets crypto in 19th sanctions package

The sanctions come days after United States President Donald Trump urged Nato nations to halt oil purchases from Moscow and impose penalties on countries continuing energy trade with Russia

After Trump pressure, EU aims to bring forward Russian LNG import ban

Beyond LNG, or liquefied natural gas, the proposed sanctions would also target more of Russia's shadow tanker fleet and cryptocurrency

EU looks to accelerate ban on Russian LNG in new sanctions package

The new push follows a call between European Commission chief Ursula von der Leyen and U.S. President Donald Trump on Tuesday