Page 17 - European Union

EU's code of practice sets key benchmarks for regulating AI development

Most countries have still not been able to catch up. India, for instance, has no dedicated AI law

UK lifts 5-year ban on Pak's national carrier PIA ahead of privatisation

The UK imposed a ban on PIA in 2020 after one of its aircraft crashed into a Karachi street, resulting in the death of nearly 100 people

EU ministers plan measures to counter Trump's 'unacceptable' 30% tariffs

EU trade ministers have agreed that US President Donald Trump's announcement of 30 per cent tariffs on the European Union was "absolutely unacceptable", and they are studying a new set of countermeasures to respond to the move. The ministers met Monday in Brussels following Trump's surprise announcement over the weekend of such hefty tariffs, which could have repercussions for governments, companies and consumers on both sides of the Atlantic. The EU is America's biggest business partner and the world's largest trading bloc. Maro efcovic, the EU's trade representative in its talks with the US, said after the meeting that it was "very obvious from the discussions today, the 30 per cent is absolutely unacceptable". He said that the commission was sharing proposals with the 27 member countries "for the second list of goods accounting of some 72 billion euros (USD 84 billion) worth of US imports. They will now have a chance to discuss it. This does not exhaust our toolbox and every ...

Search ends for those missing after Houthi rebels sink ship in Red Sea

The search for those missing after Yemen's Houthi rebels sank a ship in the Red Sea has ended as at least four people are presumed dead and 11 others remain unaccounted for, the private security firms involved said Monday. The announcement came as satellite photos show long, trailing oil slicks from where the bulk carrier Eternity C sank, as well as another where the sinking of the bulk carrier Magic Seas by the Iranian-backed Houthis took place. Both ships were attacked over a week ago by the rebels as part of their campaign targeting vessels over the Israel-Hamas war in the Gaza Strip that's upended shipping in the Red Sea, through which $1 trillion of goods usually passes a year. Search called off as mariners missing The private security firms Ambrey and Diaplous Group ran the search for those missing from the Eternity C, which had a three-man security team aboard but requested no escort from either the US Navy or a European Union force in the region. The ship came under attack

EU delaying retaliatory tariffs on US, hopes to reach deal by Aug 1

The EU will suspend retaliatory tariffs on US goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. "This is now the time for negotiations," European Commission President Ursula von der Leyen told reporters in Brussels on Sunday, after President Donald Trump sent a letter announcing new tariffs of 30% on goods from the EU and Mexico starting Aug 1. The EU America's biggest trading partner and the world's largest trading bloc had been scheduled to impose "countermeasures" starting Monday at midnight Brussels time (6 pm EDT). The EU negotiates trade deals on behalf of its 27 member countries. Von der Leyen said those countermeasures would be delayed until Aug 1, and that Trump's letter shows "that we have until the first of August" to negotiate. European leaders have urged Trump and von der Leyen to give negotiations more time. "We have always been clear that we prefer a negotiated solution," she said. If they

Donald Trump hits EU, Mexico goods with 30% tariff effective Aug 1

The EU had hoped to reach a comprehensive trade agreement with the US for the 27-country bloc

EU braces for Trump's next tariff move as trade tensions escalate

Since inauguration day in January through June have shot past $100 billion - equal to or greater than the largest annual take ever from customs duties

Donald Trump floats 15 or 20% blanket tariffs on most trading partners

Dismissing concerns about the negative impact of tariff hike on stock markets, Trump said he believed the tariffs had been well-received and said the stock market had reached a new high that day

Europe unveils deal for more food, fuel for Gaza; Israeli strike kills 15

European officials reached a new deal with Israel to allow desperately needed food and fuel into Gaza, the European Union's foreign policy chief said Thursday, hours after an Israeli airstrike killed 15 people, including 10 children, waiting for help outside a medical clinic. The children's deaths drew outrage from humanitarian groups even as Israel allowed the first delivery of fuel to Gaza in more than four months, though still less than a day's supply, according to the United Nations. The killing of families trying to access life-saving aid is unconscionable, UNICEF's chief, Catherine Russell, said. These were mothers seeking a lifeline for their children after months of hunger and desperation. The Israeli military said it was targeting a militant when it struck near the clinic. Security camera footage outside the clinic in the central Gaza city of Deir al Balah showed about a dozen people squatting in front of the clinic when a projectile explodes a few meters (yards) away, ...

European Union unveils AI rules to boost safety, transparency and trust

Makers of the most advanced artificial intelligence systems will face new obligations for transparency, copyright protection and public safety. The rules are voluntary to start

Ahead of Beijing summit, EU seeks to slash rare earth reliance on China

EU imports nearly all rare earths from China; experts warn of 'blackmail' risk as bloc faces pressure from Trump tariffs, Beijing's grip ahead of high-stakes EU-China summit

EU chief Ursula von der Leyen comfortably survives confidence vote

European Union lawmakers will hold a confidence vote Thursday on the head of the bloc's powerful executive arm, Ursula von der Leyen, with Hungarian Prime Minister Viktor Orban leading calls for her to be ousted. The censure motion, the first at the European Parliament in over a decade, was brought against the European Commission president by a group of hard-right lawmakers. To pass, it requires a two-thirds majority vote in favour. Von der Leyen could be forced to resign if she loses, but she is virtually guaranteed to win as most of the political groups in the assembly have signalled they would vote against the motion. She is not expected to attend the vote in Strasbourg, France. The motion contains a mix of allegations against von der Leyen including text messaging privately with the boss of COVID-19 vaccine maker Pfizer, misuse of EU funds and interference in elections in Germany and Romania. Orban said on Facebook that the vote will be the moment of truth: on one side the ...

Trump's MASALA playbook: India faces tough choices in trade deals

Responding to the blowback, the White House softened its stance on April 9, imposing a 90-day pause and a uniform 10 per cent tariff on most imports, excluding China

'Stop Killing Games' petition gets over a million signatures: What is it

The 'Stop Killing Games' campaign is calling for laws to keep purchased digital games playable after shutdowns, but faces scrutiny over fake entries and industry opposition

Apple takes fight against $587 million EU antitrust fine to court retaining

Apple, which had previously said it would seek legal redress, filed its lawsuit on Monday, the deadline for doing so

EU hopes for Trump tariff deal by July 9 deadline after 'good exchange'

It was not immediately clear, however, whether there had been a meaningful breakthrough in talks to stave off the imposition of sweeping tariff hikes on the United States' largest trading partner

How European Union got stuck between Xi's China and Trump's America

Many European countries remain heavily dependent on China for industrial materials. And European exports to China remain substantial, especially from Germany

Biocon Biologics gets UK MHRA nod for biosimilars Vevzuo, Evfraxy

Biocon Ltd on Monday said its arm Biocon Biologics Ltd has received marketing authorisations from the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK for Vevzuo and Evfraxy, biosimilars of Denosumab used in the treatment of bone-related diseases. Vevzuo is authorised for the prevention of skeletal-related events (pathological fracture, radiation to bone, spinal cord compression or surgery to bone) in adults with advanced malignancies involving bone, Biocon said in a regulatory filing. It is also authorised for the treatment of adults and skeletally mature adolescents with giant cell tumour of bone that is unresectable or where surgical resection is likely to result in severe morbidity. On the other hand, Evfraxy is authorised for the treatment of osteoporosis in postmenopausal women and in men at increased risk of fractures, the company said. In postmenopausal women, this significantly reduces the risk of vertebral, non-vertebral, and hip fractures, it ...

Active negotiations under way with over a dozen countries to finalise BIT

India is actively negotiating bilateral investment treaties (BITs) with over a dozen countries, including Saudi Arabia, Qatar, Israel, Oman, European Union, Switzerland, Russia, and Australia, a government official said. Besides these nations, talks are underway with Tajikistan, Cambodia, Uruguay, Maldives, Switzerland, and Kuwait. These investment treaties help in protecting and promoting investments in each other's countries. With India approaching to become the third-largest economy and a hub for global manufacturing, the government is taking a series of measures to further improve its investment regime that encourages investors. "It is expected that in the next 3-6 months, BIT with some of these countries will be finalised and announced," the official added. The government in the last Budget has announced revamping the current model Bilateral Investment Treaty to make it more investor-friendly and attract foreign players. The country signed BITs with two countries in 2024. La

China retaliates to EU ban with import restrictions on medical devices

Tensions between Beijing and Brussels have been rising, with the European Union imposing tariffs on China-built electric vehicles and Beijing slapping duties on imported brandy from the bloc