Page 58 - European Union

India fourth in number of startups with over $50 mn funding: Scaleup Report

In the survey involving 12,400 startups, India is ranked fourth with 429 scaleups, after the US (7,184), China (1,491), and the UK (623)

EU comm in China calls for balanced trade, warns Ukraine could divide them

The European Union's trade commissioner called for a more balanced economic relationship with China on Monday, noting a trade imbalance of nearly 400 billion euros (USD 425 billion), while also warning that China's position on the war in Ukraine could endanger its relationship with Europe. Valdis Dombrovskis, in a speech at China's prestigious Tsinghua University, said that the EU and China face significant political and economic headwinds that could cause them to drift apart. The strongest, yet not the only, headwind is Russia's war of aggression against Ukraine, and how China positions itself on this issue, he said, according to a prepared text of his remarks. Dombrovskis is in China to co-chair high-level economic and trade talks on Monday with Chinese Vice Premier He Lifeng. EU leaders have expressed concern about the bloc's growing trade deficit with China, which reached 396 billion euros last year. European Commission President Ursula von der Leyen recently announced an ...

Intel hit with $400 million EU antitrust fine in decades-old case

The court, however, agreed with the European Commission that Intel illegally excluded rivals from the market which prompted the EU antitrust watchdog to re-open the case

43% of India's exports to EU to be hit by green regulations: Report

Textiles, chemicals, certain consumer electronics products among trade categories that could be affected

Biocon Biologics gains EU approval for Aflibercept biosimilar, YESAFILI

According to market research firm IQVIA, Aflibercept generated about $1.8 billion in annual sales in the EU in 2022

India should use retaliation mechanism to deal with EU's carbon tax: GTRI

India should positively consider imposing retaliatory customs duties in a calibrated manner on certain EU goods to deal with the European Union's decision to impose a carbon tax on imports of certain sectors, a report by think tank GTRI said on Wednesday. The European Union (EU) has decided to impose a carbon border adjustment mechanism (CBAM) from January 2026. But, its compliance starts from October this year, as businesses exporting carbon-intensive goods like steel, aluminium, cement and fertiliser will have to share detailed production data from next month with the EU authorities. The retaliation measures, it said, offer several advantages, including rapid implementation. India can easily adjust product lists and tariff levels to mirror the actions of the EU or any other partner country precisely. "Use a calibrated retaliation mechanism (CRM) to retaliate in equal measure. We have done it before," GTRI co-founder Ajay Srivastava said. In March 2018, when the US imposed import

Google in last ditch effort to overturn $2.6 billion EU antitrust fine

Google turned to the Court of Justice of the European Union (CJEU) after the General Court in 2021 threw out its challenge to the fine levied by EU antitrust chief Margrethe Vestager in 2017

Microsoft facing formal European Union complaint over Teams Video App

The European Commission is preparing a statement of objections to send to the company, which could come in the next few months, the people said

LIVE: 8,700 shifted as rains cause flood-like situation in Madhya Pradesh

Catch all the latest updates from across the globe here

Keeping a tab on IT hardware imports: Govt looks at SIMS for template

May mandate prior registration of India-bound items

Translation tools end language barriers

When Google Translate was launched in 2006, instant language translation became available to millions

EU's carbon tax seeks to doubly punish India: FM Nirmala Sitharaman

The finance minister said the EU has to consider India's concerns, and other countries will not view them kindly

Poland imposes EU ban on all Russian-registered cars in latest sanctions

Poland began to enforce a European Union (EU) ban Sunday on all Russian-registered passenger cars seeking to enter the country the latest in a series of sanctions on Russia in punishment for its war against Ukraine. Under the EU's decision, motor vehicles registered in the Russian Federation are no longer allowed to enter the territory of the 27-member bloc. A car registered in Russia has no right to enter Poland, Polish Interior Minister Mariusz Kaminski said Saturday, announcing the ban that took effect hours later at midnight. This is another element of the sanctions imposed on Russia and its citizens in connection with the brutal war in Ukraine, due to the fact that the Russian state today constitutes a threat to international security, Kaminski said. The move comes just days after the nearby Baltic states of Lithuania, Latvia and Estonia banned vehicles with Russian license plates from entering their territory a joint move in line with a recent interpretation of the EU's ...

Turkey may part ways with EU, says Erdogan, implying end of membership bid

President Recep Tayyip Erdogan said Saturday that Turkey may part ways with the European Union, implying that the country is thinking about ending its bid to join the 27-nation bloc. "The EU is making efforts to sever ties with Turkey," he told reporters before departing for the 78th UN General Assembly in New York. "We will evaluate the situation, and if needed we will part ways with the EU." He was responding to a question about a recent report adopted by the European Parliament, which stated "the accession process cannot resume under the current circumstances, and calls on EU to explore a parallel and realistic framework' for EU-Trkiye relations." Turkey applied to join the European Union in 1999, and accession talks began in 2005. Accession negotiations were frozen in 2018 because of "democratic backsliding," according to the European Parliament. Erdogan's statement on Saturday came more than a week after Turkey's foreign minister affirmed his country's resolve to join the EU

EU ends restrictions on Ukraine's agri exports, Zelenskyy welcomes move

In his nightly address on Friday, Zelenskyy said, "Now, it is important that European unity works on a bilateral level - with the neighbours."

Turkiye may part ways with EU, could end membership bid, says Erdogan

President Recep Tayyip Erdogan said Saturday that Turkiye may part ways with the European Union, implying that the country is thinking about ending its bid to join the 27-nation bloc. The EU is making efforts to sever ties with Turkiye, he told reporters before departing for the 78th UN General Assembly in New York. We will evaluate the situation, and if needed we will part ways with the EU. He was responding to a question about a recent report adopted by the European Parliament, which stated the accession process cannot resume under the current circumstances, and calls on EU to explore a parallel and realistic framework' for EU-Trkiye relations. Turkiye applied to join the European Union in 1999, and accession talks began in 2005. Accession negotiations were frozen in 2018 because of democratic backsliding, according to the European Parliament. Erdogan's statement on Saturday came more than a week after Turkiye's foreign minister affirmed his country's resolve to join the EU and

70% of jet fuels at airports will have to be green by 2050, says EU

In addition, a specific proportion of the fuel mix (1.2 pc in 2030, 2 pc in 2032, 5 pc in 2035 and progressively reaching 35 pc in 2050) must comprise synthetic fuels like e-kerosene

'Flood' of China EVs: EU begins investigation, may slap tariffs

The Commission will have up to 13 months to assess whether to impose tariffs above the standard 10 per cent EU rate for cars in its highest profile case against China

'Flood' of China EVs: EU begins investigation, may slap tariffs

The anti-subsidy investigation covers battery-pow- ered cars from China, so also includes non-Chinese brands made there

India, EU officials to discuss New Delhi's concerns over carbon border levy

India and the EU established a Trade and Technology Council (TTC) last year, the trade bloc is prepared to engage with India on potential challenges the latter could face due to CBAM's implementation