Page 52 - European Union

Misinformation, polarisation limit our abilities: European Commission chief

European Commission President Ursula von der Leyen on Tuesday said the risks like misinformation and societal polarisation are very serious as they can limit our capabilities to deal with other challenges. In a special address at the World Economic Forum Annual Meeting 2024 here, she said this is not the time for polarisation, but for rebuilding trust. "This is not a time for conflicts, but the time to drive global collaboration and business have a crucial role to play," she added. Referring to the WEF Annual Global Risks Report that listed 'disinformation and misinformation' and societal polarisation among the biggest immediate risks before the world, she said these are indeed serious risks because they limit our capabilities in handling other risks, including conflicts, climate and technology. "This is not the time for polarisation, this is the time for trust. I believe it can be done, and I believe that Europe can lead on that front. It has never been more important for the ...

German industry association expects economy to barely grow in 2024

Russwurm urged Germany's coalition parties to find an agreement and move forward, saying paralysis would be the worst of all scenarios

Amid Red Sea attacks, Tesla puts German factory production on hold

Tesla says it's temporarily halting most production at its German factory because of attacks in the Red Sea, a vital global shipping corridor. The electric vehicle maker said in a statement Thursday night that its factory near Berlin, which makes Model Y vehicles and batteries, will pause from Jan. 29 to Feb. 11. It's a fresh sign of how the hostilities in the Mideast are disrupting global manufacturing supply chains, with shipping companies reporting that they're being forced to reroute vessels carrying goods and components on the longer route around the southern tip of Africa. Analysts say the detour adds 10 days or more to the journey. The armed conflicts in the Red Sea and the associated shifts in transport routes between Europe and Asia via the Cape of Good Hope are also affecting production in Grnheide," Tesla said. The significantly longer transport times create a gap in the supply chains. The U.S. led airstrikes on Thursday against Yemen's Houthi rebels in response to their

Google's $2.7 bn EU antitrust fine should be upheld, says court adviser

The European Commission handed down the fine to the company in 2017 for using its own price comparison shopping service to gain an unfair advantage over smaller European rivals

World's most powerful passports 2024: Europe catches up with Japan, S'pore

South Korea, Sweden and Finland all climbed one spot to take joint second place, with access to 193 locations

Microsoft's OpenAI investment risks merger probe, say EU regulators

The U.S. software giant, which last year committed to invest over $10 billion into OpenAI with a non-voting position on the board, has said it does not own any portion of OpenAI

Amazon attacks EU privacy regulators, claims their aim was punishment

The ecommerce giant told a local court in Luxembourg - where the firm has its regional hub - that watchdogs went on the attack rather than seek an amicable solution

Apple disputes EU tech rules labelling its 5 App Stores as one service

The company also disputed the characterisation of its operating system iOS as an important gateway for business users to reach end users and the interoperability obligation that goes with that label

EU targets world's biggest diamond miner Alrosa as part of Russia sanctions

The European Union imposed sanctions on the world's biggest diamond mining company and its chief executive officer on Wednesday as part of what it called its unwavering commitment to Ukraine in the war against Russia. The move targeted Alrosa, which accounts for about 90% of Russia's diamond production, and CEO Pavel Marinychev. The EU headquarters said the company constitutes an important part of an economic sector that is providing substantial revenue to Moscow. It means Alrosa's assets in Europe will be frozen and EU citizens and companies will be barred from making funds available to the company. Marinychev, who was appointed CEO last May for three years, also faces a travel ban in Europe. The EU had already banned the import, purchase or transfer of Russian non-industrial natural and synthetic diamonds and diamond jewelry from Jan. 1. The measure applies to diamonds originating in Russia, exported from Russia, transiting through Russia and Russian diamonds processed ...

India cautious as West makes new plan for economic sanctions on Russia

US, EU could be moving to make it difficult for Russia to sell not only crude but other products

Ready for peace in Ukraine but only on Russia's terms, says Putin

"We also want to end the conflict, and as soon as possible" - but "only on our terms," Putin said. The Russian leader didn't specify what conditions must be met for peace

Jacques Delors, former European Union's Commission president, dies at 98

Delors served an unprecedented three terms as the President of the European Commission, from January 1985 untill the end of 1994

Egypt floats plan to end Israel-Hamas war, create transitional govt

Egypt has put forward an ambitious, initial proposal to end the Israel-Hamas war with a cease-fire, a phased hostage release and the creation of a Palestinian government of experts who would administer the Gaza Strip and occupied West Bank, a senior Egyptian official and a European diplomat said on Monday. The proposal, worked out with the Gulf nation of Qatar, has been presented to Israel, Hamas, the United States and European governments but still appeared preliminary. It falls short of Israel's professed goal of outright crushing Hamas and would appear not to meet Israel's insistence on keeping military control over Gaza for an extended period after the war. Israel's War Cabinet, including Prime Minister Benjamin Netanyahu, will meet later Monday discuss the hostage situation, among other topics, an Israeli official said, but would not say if they would discuss the Egyptian proposal. The official spoke on condition of anonymity because they were not authorised to talk to the ...

Chinese automaker BYD's first car factory in Europe planned in Hungary

Chinese automaker BYD said on Friday that it plans to build a new electric vehicle plant in Hungary, its first car factory in Europe, as part of its rapid global expansion. Hungary will be the centre for its European operations, BYD said in a notice on its Weibo social media account. BYD, based in the southern Chinese city of Shenzhen, said it plans to create thousands of jobs in creating a local green ecosystem for manufacturing its electric vehicles. The factory will have an advanced production line and will be built in phases, it said without giving details on the amount of money to be invested. BYD is among EV manufacturers making fast inroads into Europe, to the extent that European regulators have begun a probe into Chinese government support for the industry. The company, whose name stands for Build Your Dreams, began direct EV sales in Hungary in October. The company says it plans to launch three new models in Europe within the coming year in addition to the five models it

EU, UK approve 3-year postponement of tariffs on electric vehicles

The European Union and the UK approved a three-year postponement of tariffs on electric vehicles, giving carmakers more time to make necessary changes to comply with local content requirements

US deepened partnership with India, boosted cooperation via Quad: Blinken

The US State Secretary further said that the US is more closely aligned than ever with the G7, with the EU, and with other allies and partners on the challenges presented by Beijing

EU countries agree on compromise for overhaul of bloc's fiscal rules

European Union finance ministers on Wednesday sealed a deal to reform the 27-nation bloc's fiscal rules after France and Germany finally adhered to a compromise. EU countries had been negotiating for months a reform of the bloc's fiscal rules limiting debt and deficits for member states, known as the Stability and Growth Pact. The rulebook, which has often proved difficult to enforce and has served as a source of tension, was suspended during the COVID-19 pandemic but should be reactivated next year. Once this agreement is formalised into a general approach, which should happen very soon, negotiations can begin with the European Parliament so that EU Member States have clarity and predictability on their fiscal policies for the years ahead, said Valdis Dombrovskis, a European Commission executive vice president. The deal was announced a day after France and Germany reached an agreement on the compromise put forward by Spain, which currently holds the rotating presidency of the Coun

ICT levy dispute at WTO: EU softens stance on retaliating against India

According to the European Commission, EU exports of such technology affected by India's violations is up to €600 million annually, which is significant

Fears over asylum-seekers' rights as EU hails migration deal breakthrough

European Union leaders and top officials hailed on Wednesday a major breakthrough in talks on new rules to control migration, but critics said the reforms will weaken the rights of asylum-seekers and encourage more morally dubious deals with countries that people leave to get to Europe. After overnight talks, visibly exhausted EU lawmakers emerged expressing relief that agreement was found on the core political elements of the Pact on Asylum and Migration a major overhaul of rules that many hope will address the challenges posed by migrant arrivals over the last decade. It's truly a historic day, said European Parliament President Roberta Metsola, flanked by lawmakers responsible for the key parts of the agreement. With migration likely to be a hot campaign issue ahead of EU elections next June, Metsola said, it was vital to make a breakthrough. Let's not underestimate the risk if we had not reached such a deal, she told reporters. This means, hopefully, that member states will fee

Top porn sites must verify ages to protect kids under EU's new digital law

Three of the world's biggest porn websites face new requirements in the European Union that include verifying the ages of users, the 27-nation bloc said Wednesday, expanding the reach of its digital law designed to keep people safe on the internet. Pornhub, XVideos and Stripchat have now been classed as very large online platforms subject to more stringent controls under the Digital Services Act because they have more than 45 million users each, according to the European Commission, the EU's executive branch. The three companies did not respond immediately to requests for comment. They are the first porn sites to be targeted by the sweeping Digital Services Act, which imposes tough obligations to keep users safe from illegal content and dodgy products. Violations are punishable by fines of up to 6% of global revenue or even a ban on operating in the EU. Some 19 online platforms and search engines have already been identified for stricter scrutiny under the DSA, including TikTok, ...