Page 37 - European Union

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

EU tells Apple to end geo-blocking on its services such as App Store

The EU said Apple had one month to propose commitments on it would address the geo-blocking it had identified

EU High Representative condemns Israeli airstrike on Jabalia in Gaza

He stressed that the use of hunger as a weapon of war contradicts international humanitarian law

Euro hits lowest since June against dollar, US tariff may hurt EU economy

Market participants flagged that the sensitivity of the euro to the threat of higher U.S. import tariffs was evident late Friday.

Russian oil finds way to Europe; India now biggest exporter of fuel to EU

India's export of fuels like diesel to the European Union jumped 58 per cent in the first three quarters of 2024, with a bulk of them likely coming from refining discounted Russian oil, according to a monthly tracker report. The EU/G7 countries in December 2022 introduced a price cap and an embargo on the imports of Russian crude oil in a bid to cripple Kremlin's revenue and create a vacuum in its funding for the invasion of Ukraine. However, a lack of a policy on refined oil produced from Russian crude meant that countries not imposing sanctions could import large volumes of Russian crude, refine them into oil products and legally export them to the price-cap coalition countries. India has become the second biggest buyer of Russian crude oil since the invasion, with purchases rising from less than one per cent of the total oil imported in the pre-Ukraine war period to almost 40 per cent of the country's total oil purchases. The rise was primarily because Russian crude oil was ...

Apple to face first fine under EU's Digital Markets Act for Big Tech

Watchdogs are readying the penalty after the iPhone maker failed to allow app developers to steer users to cheaper deals and offers outside of the App Store

S Korea fines Meta $15 mn for illegally collecting info from Facebook users

South Korea's privacy watchdog on Tuesday fined social media company Meta 21.6 billion won ($15 million) for illegally collecting sensitive personal information from Facebook users, including data about their political views and sexual orientation, and sharing it with thousands of advertisers. It was the latest in a series of penalties against Meta by South Korean authorities in recent years as they increase their scrutiny of how the company, which also owns Instagram and WhatsApp, handles private information. Following a four-year investigation, South Korea's Personal Information Protection Commission concluded that Meta unlawfully collected sensitive information about around 980,000 Facebook users, including their religion, political views and whether they were in same-sex unions, from July 2018 to March 2022. It said the company shared the data with around 4,000 advertisers. South Korea's privacy law provides strict protection for information related to personal beliefs, politic

Russia suspected of plotting to send incendiary devices to US on planes

Governments across Europe have been raising alarm over a growing threat of Russia-sponsored acts of sabotage and destabilization since the Kremlin launched its full-scale invasion of Ukraine

South Korea, EU worry about Russia's technology transfer to North Korea

South Korea and the European Union on Monday strongly condemned North Korea's reported dispatch of troops to aid Russia's war against Ukraine and expressed concerns that Russia could reward North Korea with transfers of sensitive technology to enhance its nuclear and missile programs. North Korea's troop deployment, confirmed by the US and NATO, threatens to expand the almost 3-year-long war and is causing security jitters in South Korea and elsewhere about what Russia could give North Korea in return. After a meeting in Seoul, South Korean Foreign Minister Cho Tae-yul and EU foreign policy chief Josep Borrell issued a joint statement condemning in the strongest possible terms North Korea's deployment and voicing worries about Russia's possible provision of materials and technology to North Korea in support of its military objectives. We are also deeply concerned about the possibility for any transfer of nuclear- or ballistic missile-related technology to the DPRK, which would ...

China files complaint at WTO over EU anti-subsidy tariffs on Chinese EVs

China has moved forward with a complaint at the World Trade Organisation that alleges the European Union has improperly set anti-subsidy tariffs on new Chinese-made electric vehicles. The Chinese diplomatic mission to the WTO said Monday it strongly opposes the measures and insisted its move was designed to protect the EV industry and support a global transition toward greener technologies. The European bloc announced last month it was imposing import duties of up to 35% on electric vehicles from China, alleging the Chinese exports were unfairly undercutting EU industry prices. The duties are set to remain in force for five years, unless an amicable deal can be struck. Electric vehicles have become a major flashpoint in a broader trade dispute over the influence of Chinese government subsidies on European markets and Beijing's burgeoning exports of green technology to the bloc. China alleged that the EU move amounted to an abuse of trade remedies that violates WTO rules, and amount

China urges France to get EU to arrive at palatable EV trade solution

The EU launched an anti-subsidy investigation into imports of Chinese-made battery EVs last year and in October voted for tariffs on those vehicles

Japan, EU forge security pact amid rising tensions with China and Russia

Borrell emphasized the dangerous global climate, referring to the top security concerns for both Japan and the EU without specifically naming China, Russia, or North Korea

Japan, EU announce security & defence partnership as regional tensions rise

Japan and the European Union announced a security and defence partnership on Friday as they seek to step up military ties, including joint exercises and exchanges between their defence industries, amid growing tensions with China, North Korea and Russia. It is the first security partnership that the EU has concluded with an Indo-Pacific country, Japanese Foreign Minister Takeshi Iwaya and EU foreign policy chief Josep Borrell told reporters. We live in a very dangerous world. We live in a world of growing rivalries, climate accidents and threats of war. And there is only one antidote to this challenging world, which is partnerships among friends, Borrell said. It is an historical and very timely step given the situation in both of our regions. Borrell is in Tokyo as part of an East Asia tour that includes South Korea, where he will also hold a strategic dialogue, underscoring the EU's increasing engagement with the Indo-Pacific region, as China and Russia step up joint military ...

EU Parliament reaffirms support for Taiwan amidst China's war games

Report further indicated that European Parliament had previously suggested establishing bilateral investment agreement with Taiwan; however, many experts consider this move to be 'too ambitious'