Page 24 - European Union

Syria to join donor conference for 1st time, a key step for its new leaders

The European Union hosts a donor conference for Syria on Monday to muster support to ensure a peaceful transition after President Bashar Assad was ousted by an insurgency last December. Ministers and representatives from Western partners, as well as Syria's regional neighbors, other Arab countries and UN agencies will take part in the one-day meeting in Brussels which will be chaired by EU foreign policy chief Kaja Kallas. Syria will attend the conference the ninth edition of its kind for the first time, and will be represented by Foreign Minister Asaad Hassan al-Shibani. The event was organized in haste by the EU to try to take advantage of the change sweeping the country. The gathering comes at a precarious time. Syria's new leaders are trying to consolidate control over territory that was divided into de facto mini-states during nearly 14 years of civil war and to rebuild the country's economy and infrastructure. The United Nations in 2017 estimated it would cost at least $250

US-EU tariff war risks $9.5 trn of business: American Chamber of Commerce

Trump has railed against the US goods trade deficit with the EU, although in services there is a US surplus, and urged manufacturers to produce in America

India should seek reciprocity in free trade agreement talks with EU: GTRI

"While the EU demands zero tariffs on medical devices from India, it maintains high regulatory barriers that make Indian exports difficult in EU markets," GTRI founder Ajay Srivastava said

Indian defence sector stocks lock and load, ready for export offensive

Investor firepower reloaded, targeting domestic growth, exports, and European rearmament

Thousands gather in Serbia's capital for rally that tests Vucic's govt

Tens of thousands of people swarmed the streets in Serbia's capital Belgrade on Friday, staging a joyful prelude to a major anti-government rally on the weekend and dealing a blow to populist President Aleksandar Vucic. The citizens of Belgrade came out to welcome thousands of university students who converged on Belgrade from across the country for the rally planned for Saturday that is expected to draw even more people. Saturday's protest is seen as a culmination of months of anti-graft demonstrations in the Balkan country that have posed the biggest challenge so far for Vucic's decade-long firm grip on power in Serbia. Flares, fireworks and flag-waving crowds filled the downtown streets in stark contrast to weeks of fear-mongering spread by Vucic's populists with an aim to dissuade people from attending the rally on Saturday. The autocratic leader has repeatedly warned that violence is planned at the rally and threatened arrests over any incidents. Vucic's supporters have been .

EU carbon border policy may hurt global climate cooperation: Study

Implementation of unilateral Carbon Border Adjustment Mechanism-like policies across jurisdictions can increase costs for exporters, complicate trade relations and potentially weaken collaborative global climate efforts, a study has found. According to the study -- conducted by researchers from the Indian Institute of Management (IIM)-Lucknow and the Institute of Management Technology (IMT)-Ghaziabad -- the EU's Carbon Border Adjustment Mechanism (CBAM) can pose challenges for India's small- and medium-sized steel enterprises due to financial, technological and capacity constraints. In the first-of-its-kind study, the researchers tested if the EU's ability to extend its regulation beyond borders, commonly known as the "Brussels Effect", would drive decarbonisation in India's steel industry through the CBAM. The researchers found that while large integrated steel plants might adapt their production to supply lower-carbon steel for the EU market, smaller and medium-sized enterprises .

Trump escalates trade war, pledges more tariffs after EU, Canada's response

The latest decision has marked an escalation in the already heated trade war between the US and other nations

UK breaks from EU stance, opts against swift tariff retaliation on US

Business and Trade Secretary Jonathan Reynolds called the US decision to impose 25 per cent levies on foreign metal products without exemptions on Wednesday morning "disappointing"

Countermeasures to Trump's tariffs will go into effect on April 1, says EU

The European Union on Wednesday announced retaliatory trade action after the Trump administration officially increased tariffs on all steel and aluminum imports to 25%, with duties on industrial and agricultural products that will go into effect April 1. As the US are applying tariffs worth 28 billion dollars, we are responding with countermeasures worth 26 billion euros (USD 28 billion), European Commission President Ursula von der Leyen said in a statement. The commission manages trade and commercial conflicts on behalf of the 27 member countries. We will always remain open to negotiation. We firmly believe that in a world fraught with geopolitical and economic uncertainties, it is not in our common interest to burden our economies with tariffs, von der Leyen said. The commission also said that steel and aluminum products would be hit in return, but also textiles, leather goods, home appliances, house tools plastics and wood. Agricultural products will also be impacted including

Amid US-Ukraine tensions, Starlink's European rival sees shares soar 500%

Eutelsat has the infrastructure to expand its role in Ukraine, whose troops rely on Starlink for internet connectivity to operate drones, secure messaging, and real-time coordination

EU hits back at Trump tariffs with measures on $28 billion of US goods

US-EU trade dispute: The Trump administration recently imposed 25% tariff on European steel and aluminium imports

EU chief asks member nations to use European, not American defence systems

European Union countries must purchase military equipment made in Europe under a new loan programme meant to help the continent provide for its own security, a top EU official said Tuesday, even though most of its defence materiel currently comes from US suppliers. At a summit last week, the EU's 27 leaders weighed a European Commission proposal for a new loan plan worth 150 billion euros (USD 163 billion). It would be used to buy air defence systems, drones and strategic enablers like air transport, as well as to boost cybersecurity. These loans should finance purchases from European producers, to help boost our own defence industry, Commission President Ursula von der Leyen told EU lawmakers. Von der Leyen said the contracts should be multiannual, to give the industry the predictability they need and that the priority should be for countries to buy equipment together in groups because we have seen how powerful this can be. European NATO members have placed about two-thirds of th

EU worries US embracing crypto could impact Europe financial stability

ECB has been working on creating a digital euro since 2020, after Facebook announced a year earlier it wanted to launch its own digital currency called Libra

EU investors eye fresh investments in Indian equities, says Macquarie

European nations are among the leading destinations for foreign portfolio investors (FPIs) in India

Macron's comeback: Handling crisis in France to shaping Europe's defence

French President Emmanuel Macron is back at the centre of global diplomacy, seeking to ease relations with President Donald Trump, championing a Ukraine peace plan alongside his British counterpart, and seeing his longstanding desire to boost European defence turning into reality. Six months ago, Macron seemed weaker than ever after his call for early legislative elections produced a hung parliament, sparking an unprecedented crisis. Known for his nonstop political activism, Macron shifted his focus to foreign policy, leaving domestic struggles largely to the prime minister. Now, he appears as the one leader who speaks to Trump several times per week and takes the lead in European support for Ukraine, while positioning himself as the commander-in-chief of the European Union's only nuclear power. Key world player Macron, 47, is one of the few leaders who knew Trump during his first term in office, maintaining despite disagreements a cordial relationship, which both describe as ...

India, EU to resume FTA talks from March 10 amid Trump tariff concerns

India and the 27-nation European Union (EU) bloc will start the tenth round of negotiations for a proposed free trade agreement from Monday in Brussels amid Trump tariff threats, according to an official. The talks are expected to focus on resolving remaining issues so that the agreement can be finalised by the end of this year. During the recent visit of EU Commissioner for Trade and Economic Security Maros Sefcovic, the two sides have discussed ways to accelerate efforts towards a balanced and mutually beneficial trade pact. Prime Minister Narendra Modi and European Commission President Ursula von der Leyen last month agreed to conclude the ambitious India-EU free trade deal by this year amid fears of the Trump administration's threat of higher tariffs. "The two sides are scheduled to hold the tenth round of negotiations for the FTA from March 10-14 in Brussels," the official said. In June 2022, India and the 27-nation EU bloc resumed the negotiations after a gap of over eight .

Austrian envoy Wieser urges stronger India-EU ties, calls 2025 'key year'

Noting that the ties between India, Austria and the European Union has been intensifying over the past years, Ambassador Wieser affirmed hope that the trend will continue in the coming years

Russia warns of countermeasures to respond to EU 'militarisation' plans

European leaders on Thursday backed plans to spend more on defence and continue to stand by Ukraine in a world upended by Donald Trump's reversal of U.S. policies

EU leaders back new defence spending after Trump hints at self-reliance

European Union leaders on Thursday backed new defence spending plans aimed at freeing up billions of euros for the continent's security after the Trump administration signalled that Europe would have to fend for itself in future. Facing the prospect that the United States might cut them adrift, EU leaders held emergency talks in Brussels to explore new ways to beef up their own security and ensure that Ukraine will still be protected. The 27 leaders signed off on a move to loosen budget restrictions so that willing EU countries can increase their military spending. They also urged the European Commission to seek new ways to facilitate significant defence spending at national level in all Member States, a statement said. The EU's executive branch estimates that around 650 billion euros ($702 billion) could be freed up in this way. The leaders also took note of a commission offer of a loan package worth 150 billion euros ($162 billion) to buy new military equipment and invited EU ...

Russia has become a threat to France and Europe: French President Macron

French President Emmanuel Macron's message to EU: Europe must prepare itself for an era of uncertainty and take greater responsibility for its defence