Page 62 - European Union

PM Modi's France visit to likely boost economic cooperation, EU-India ties

PM Modi will visit France to attend the Bastille Day Parade as the Guest of Honour at the invitation of French President Emmanuel Macron

Dutch PM announces resignation after govt disagreement on migration policy

Dutch Prime Minister Mark Rutte has announced his resignation because of a dispute in his ruling coalition about how to rein in migration. The decision by the Netherlands' longest-serving premier means the country will face a general election later this year for the 150-seat lower house of Parliament. "It is no secret that the coalition partners have very different views on migration policy," Rutte told reporters in The Hague on Friday. "And today, unfortunately, we have to draw the conclusion that those differences are irreconcilable. That is why I will immediately ... offer the resignation of the entire Cabinet to the king in writing.

India raises concerns over carbon tax, deforestation regulation in WTO meet

A number of countries, including India, Russia, and Brazil, have flagged concerns over European Union's (EU) carbon tax and deforestation regulation in a meeting of the World Trade Organisation (WTO) in Geneva, stating that these measures would affect their industries, an official said on Friday. These countries raised the issues in a two-day meeting of the WTO's Council for Trade in Goods, which concluded on July 7 in Geneva. On EU's deforestation regulation, India said that the agriculture sector in developing countries is a key driver for employment as well as economic well-being for a large part of the population and it was unfortunate that the EU is making policy choices, which directly harmed economic interests of these socio-economic groups, the Geneva-based trade official said. The EU's regulation will enter into application on December 29, 2024, with an additional six months flexibility for small enterprises. Nine WTO members Indonesia, Russia, Brazil, Ecuador, India, Per

EU approve plans to boost anemic ammunition production to help Ukraine

The European Union took a major step early on day in approving plans to boost its anemic production of ammunition and missiles within the 27-nation bloc, to both defend itself and quickly help Ukraine in trying to push back the invasion by Russia. The EU presidency announced early on day that the member states and the EU Parliament reached a deal to urgently mobilise" half a billion euros from its budget for an Act in Support of Ammunition Production. The deal follows up the decision by EU leaders in March to boost urgently needed ammunition deliveries to Ukraine, which were then sought to start a counteroffensive against Russian forces. Ukraine President Volodymyr Zelenskyy has steadfastly asked for more military aid, from ammunition to planes and missiles. ASAP was part of the plan to send Ukraine 1 million rounds of artillery ammunition within the next 12 months. The EU had already approved plan for a fast-track purchasing procedures when it approved funds Friday to ramp up ...

India in talks to supply tonnes of green hydrogen to EU, Singapore: Report

The meeting was attended by officials from EU governments and Indian renewable companies, including Avaada Group, Renew Power and ACME Group

Twitter rival Threads hasn't appeared in EU app stores ahead of launch

App stores in some European Union countries, including Germany and Belgium, weren't displaying Threads as of late Tuesday

US Big Tech says it meets EU gatekeeper status, TikTok criticises label

Companies can be fined up to 10 per cent of annual global turnover for DMA violations

Meta loses EU court fight over German antitrust crackdown on data

The EU's Court of Justice ruled that Germany's Federal Cartel Office didn't overstep its powers in 2019 when it ordered Facebook to overhaul how it tracks its users' internet browsing

Microsoft faces EU antitrust probe after remedies fall short: Report

Slack alleged that its rival had unfairly integrated workplace chat and video app Teams into its Office product

Top headlines: HDFC Bank to become top weight, FPI inflow hit 10-month high

Business Standard brings all the latest headlines at this hour

Migrant tragedy at sea as EU leaders forge ahead with tougher borders plans

As rescue efforts in the Mediterranean Sea flagged last week, and bodies were found more frequently than survivors from among the more than 500 people missing after an overcrowded fishing trawler sank, the European Commission's president was asked for her thoughts. It is horrible, what happened, and the more urgent is that we act, Ursula von der Leyen told reporters at the headquarters of the European Union's executive branch in Brussels. The priorities, she said, should be to help the authorities in Tunisia where people bound for Europe sometimes leave from to stabilise its economy and better manage migration, and to finalise the long-awaited reform of the EU's asylum rules, which is unlikely to happen before next year. Never mind that the trawler left from Libya, or the admittedly slim chance that survivors might be found, or that the disaster might be the worst ever in the Mediterranean. Von der Leyen's reply stood in stark contrast to the actions of a predecessor a decade ...

Two official teams from India, EU to discuss carbon tax issues: Official

India and the European Union have constituted two teams to discuss issues pertaining to the EU's carbon tax, which will kick in from October this year, a government official said. The European Union (EU) is introducing the Carbon Border Adjustment Mechanism (CBAM) from October 1 this year. It would have an impact on seven carbon-intensive sectors, including steel, cement, fertiliser, aluminium and hydrocarbon products. India raised these issues in the Trade and Technology Council (TTC) meeting between the two regions in Brussels in May. In that meeting, the official said, India presented the problems which would be faced by domestic MSMEs due to this tax and also matters related to modalities to comply with that. "So now they have agreed that there will be a channel opened for discussions. So there will be a team from their side and our side discussing this. The two teams would discuss about the implications of the notification of the EU," the official, who did not wish to be named

Govt fears European Union's draft due diligence law may hit small biz

European Union's law is still at the initial draft stage

EU faces cliffhanger climate vote after parliament deadlocked on key bill

The European Union is facing a cliffhanger vote next month that will test its global climate and environmental credentials, after its parliament was again deadlocked on pushing a nature restoration bill onwards on Tuesday. The legislature's environment committee emerged deadlocked at 44-44 on the plan to beef up the restoration of nature in the 27-nation bloc that was damaged during decades of industrial expansion. It means the full parliament will be asked to reject it. "The fight is not over. We will do our utmost to rally forces throughout the hemicycle behind an ambitious law to the benefit of people and the planet, said socialist S&D legislator Mohammed Chahim. The parliament's biggest group, the Christian Democrat EPP, has turned against the plan, arguing it is bad for embattled farmers and puts food security at risk at a time when the war in Ukraine has shown that strategic autonomy on foodstuffs can be essential. The bill is a key part of the EU's vaunted European Green ...

EU foreign ministers allocate over 3 bn euro for military aid to Ukraine

Following a meeting in Luxembourg, Foreign Ministers of 27 EU member states have approved a 3.5 billion euro increase in the European Peace Facility

Reaching ambitious climate targets will run into financial problems: EU

The European Union's auditing agency warned on Monday that there might not be sufficient financing available to meet the bloc's ambitious climate targets. The warning from the Court of Auditors comes as the 27-nation bloc is already struggling to live up to image as the global leader in working toward climate neutrality because of a political fight in the EU legislature to push through environmental protection measures. In a 63-page report, the court also noted that the European Commission, the EU's executive arm, did not include all greenhouse gas emissions in its tallies, which might lead to overly optimistic statistics. The report's authors also found some of the commission's accounting too opaque. Regarding its finding on financing, the court said that 30 per cent of the 2021-2027 budget was to be spent on climate action, or about 87 billion euros (USD 95 billion) a year. This amount is less than 10 per cent of the total investment needed to reach the 2030 targets, estimated at

EU urges caution as mercenary revolt raises doubts on Putin's grip on Power

European Union ministers urged caution on Monday over a failed revolt by mercenary soldiers in Russia. This came after the incident raised troubling questions about Russian President Vladimir Putin's grip on power and whether Wagner group fighters might install themselves just over the border in Belarus. At the talks in Luxembourg, some EU foreign ministers likened the short-lived uprising led by Wagner Group leader Yevgeny Prigozhin to Putin unleashing Frankenstein's monster of his own creation, and to some powerful and evil spirit. But several others, concerned that they might be seen to be offering support, were at pains to point out that the revolt remains an internal Russian affair, and that many questions remain unanswered, including Prigozhin's precise whereabouts and whether he may be taking troops with him. Most seemed to agree that the incident will have security implications for Europe and that the important thing is to help Ukraine take advantage of the situation. We a

After Google and Facebook, Twitter agrees to follow EU laws on fake news

One commissioner recently warned Twitter that an unruly operation akin to the wild west would not be tolerated

Musk's Twitter must bolster resources ahead of elections, warns EU

There are a few critical areas that Twitter needs to focus on immediately, especially around child abuse and controlling disinformation around elections, Breton said

Flaws in a multipurpose CBAM

EU's tax on carbon-intensive imports contradicts multilateral climate and trade norms