Page 31 - European Union

EU-CBAM: EU's carbon tax needs global coordination to address concerns

The climate change is no more an esoteric concept. There is unlikely to be any dilution in emerging international regulations

Georgian protesters clash with police after PM suspends talks on joining EU

Police and protesters brutally clashed in Georgia after the country's ruling party suspended negotiations to join the European Union until 2028. Police used water cannons, pepper spray and tear gas late Thursday to disperse protesters who took to the streets following the announcement by Prime Minister Irakli Kobakhidze of the ruling Georgian Dream party. Georgian Dream claimed victory in last month's parliamentary election that the opposition in the South Caucasus nation dismissed as fraudulent and that has been condemned by European officials. The election on October 26 was widely seen as a referendum on the country's aspirations to join the European Union and the ruling party had indicated to voters that it would continue to seek membership of the bloc. The interior ministry said it detained 43 people during the protests. President Salome Zourabichvili said the government declared war on its own people and confronted riot police at the protest, asking them whether they served ..

Georgia suspends talks on joining EU for 4 yrs; accuses it of 'blackmail'

Georgia is suspending talks on its bid to join the European Union for four years, its prime minister said Thursday, in view of what he described as blackmail and manipulation from some of the bloc's politicians. The statement by Irakli Kobakhize came hours after he was reappointed to the job by members of the governing Georgian Dream party after its disputed victory in last month's parliamentary election that has sparked protests and led to an opposition boycott of parliament. The October 26 election was widely seen as a referendum on the country's aspirations to join the European Union. The opposition said the vote was rigged under the influence of Russia seeking to keep Georgia in its orbit, and declared a boycott of parliament. European election observers said the balloting took place in a divisive atmosphere marked by instances of bribery, double voting and physical violence. The EU has previously announced that the talks on Georgia's accession to the bloc had been de-facto hal

Expressed 'deep disappointment' at EU's unilateral green regulations: Goyal

Union Minister Piyush Goyal on Thursday expressed India's "deep disappointment" with the European Union's "unilateral" green economy regulations, stating they are unfair and violate the principle of "common but differentiated responsibilities". Under the proposed EUDR, operators or traders placing specified commodities on the EU market or exporting them must prove their products do not come from recently deforested land or contribute to forest degradation. Carbon Border Adjustment Mechanism (CBAM) are tariffs that will apply on energy-intensive goods imported into the European Union (EU). India has concerns that the CBAM could result in higher tariffs on imports of carbon-intensive goods like cement, aluminium, iron, and steel from India, acting as a unilateral trade barrier. Addressing a press conference here, the commerce and industry minister said he raised the issue with his French counterpart during talks held a day earlier. On Wednesday, Goyal held discussions with Sophie ...

Google to tweak search results in Europe after rivals highlight low traffic

Under the EU Digital Markets Act (DMA), Google is prohibited from favouring its products and services on its platform

EU asks Israel for ceasefire with Hezbollah as 'all concerns addressed'

The European Union's top diplomat said Tuesday there were no excuses for Israel to refuse to implement a ceasefire with the Lebanese militant group Hezbollah, saying all its security concerns had been addressed in the US-French-brokered deal. Josep Borrell, the outgoing EU foreign policy chief, called for increased pressure on Israel to blunt extremists in the government who are refusing to accept the deal. Speaking on the sidelines of a Group of Seven meeting in Italy, Borrell warned that if a ceasefire is not implemented, Lebanon will fall apart. Israeli officials said Prime Minister Benjamin Netanyahu's security Cabinet was set to convene Tuesday to discuss a proposed ceasefire. Among the issues that remain is an Israeli demand to reserve the right to act should Hezbollah violate its obligations under the emerging deal. Borrell said the US would chair a ceasefire implementation committee, but France would participate at the request of Lebanon. On the proposal agreement brokered

'Gorilla glass' maker Corning bids to settle European Union antitrust case

The European Commission earlier this month launched an antitrust investigation over Corning's exclusive supply deals that may exclude rival glass producers from large segments of the market

EU, China discussing alternatives to European tariffs on Chinese EVs

To address the subsidies, the European Union last month raised tariffs on Chinese-built EVs to as much as 45.3% in its highest-profile trade investigation

UK regulator considers probe into Apple's, Google's mobile browsers

The CMA's independent inquiry group also proposed that no further action be taken on cloud gaming given primary concerns had been addressed

ArcelorMittal delays green capex in EU, cites regulatory uncertainties

"We are operating in a difficult market, and there are a number of policy uncertainties that are impacting the industry," the company said in an emailed statement

European companies cut jobs amidst difficult economy, weak demand

Companies across Europe are being forced to freeze hiring or cut jobs on difficult economy and persistent weak demand for many products

EU to investigate Amazon next year, its share price drops by 3% post report

Amazon could face a substantial fine of up to 10 per cent of its annual global revenue if it is found guilty of breaching the European Union's Digital Markets Act

Amazon likely to face investigation under EU tech rules next year

The timing and decision on whether to go ahead with an investigation will be taken by incoming EU antitrust chief Teresa Ribera in the coming months,

France, Germany, other EU nations team up to develop air defence system

Many European countries have ramped up defence spending in recent years, spurred by Russia's war in Ukraine and fears the United States may cut its commitments to protect the continent

EU softens stand on major sticking point in Baku UN climate talks

The European Union on Monday urged "wealthier high-emitting" developing nations to voluntarily contribute to climate finance, signaling a shift from its earlier position that had stalled progress in the UN climate talks. Securing a new climate finance package to help developing countries reduce emissions and adapt to climate change is the top priority of this year's UN climate talks. Developing nations need at least USD 1.3 trillion annually to tackle worsening climate impacts. The EU and some developed countries argue that such a large sum can only be achieved if "wealthier high-emitting" developing nations, like China and Gulf states, also contribute. However, this proposal has been a major sticking point, as many developing countries view it as an attempt to shift responsibility away from those who historically benefited from industrialization. European Commissioner for Climate Action, Wopke Hoekstra, suggested a compromise on Monday, proposing voluntary contributions from these

Taiwan seeks economic partnership with EU to boost semiconductor ties

Speaking at a Taiwan-EU investment forum in Taipei, Lai said that facing the threat of expanding authoritarianism, Taiwan and the EU must form a strong democratic umbrella and build secure supply

French farmers mobilise for protests over EU-Mercosur trade agreement

French farmers are mobilising for widespread protests called Monday targeting the EU-Mercosur trade agreement. They argue the deal threatens their livelihoods by allowing a surge of South American agricultural imports produced under less stringent environmental standards. Protests are planned nationwide, including gatherings at prefectures and traffic circles. One group blocked a highway south of Paris on Sunday night with tractors, and scattered actions have been held recently building up to this week's protests. The European Union and the Mercosur trade bloc, composed of Brazil, Argentina, Paraguay, Uruguay and Bolivia, reached an initial agreement in 2019, but negotiations stumbled due to opposition from farmers and some European governments. The new protests come amid fears the agreement could be finalized at the G20 summit in Brazil on Nov. 18-19, or in the coming weeks. EU farm ministers are also meeting in Brussels on Monday. Leading the charge of the new protests are unions

European Union corners India, developing world over carbon tax at COP29

The tax, or CBAM, is to be imposed by EU in 2026 on products whose manufacturing processes do not follow certain emission standards

EU slaps Meta with 800 mn euro fine over 'abusive' Marketplace practices

European Union regulators hit Facebook parent Meta with a fine of nearly 800 million euros on Thursday for what they call abusive practices involving its Marketplace online classified ads business. The European Commission, the 27-nation bloc's executive branch and top antitrust enforcer, issued the 797.72 million euro ($841 million) penalty after its long-running investigation found that the company abused its dominant position and engaged in anti-competitive behaviour. Brussels had accused Meta of distorting competition by tying its online classified ad business to its social network, automatically exposing Facebook users to Marketplace whether they want it or not" and shutting out competitors. It was also concerned that Meta was imposing unfair trading conditions with a terms of service that authorised the company to use ad-related data generated from competitors who advertise on Facebook or Instagram to benefit Marketplace. Meta said in a statement that the decision fails to .

Cross-border challenges widen wealth gap between Europe, US: IMF study

If trade barriers between EU countries were lowered to the level that existed between US states, it would boost European productivity by seven percentage points