Page 63 - European Union

Eurozone slips into recession after GDP shrinks 0.1% in Jan-Mar: Report

The Eurozone has fallen into recession, new data show, as its economy contracted over the winter, according to a media report

EU mechanism to track carbon intensive imports is an opportunity for India

Indian industry has made commendable progress in becoming energy efficient and less carbon intensive

EU makes fresh attempt to overcome yearslong crisis over migrants

European Union interior ministers on Thursday made a fresh attempt to overcome one of the bloc's most intractable political problems as they weighed new measures for sharing out responsibility for migrants entering Europe without authorisation. Europe's asylum system collapsed eight years ago after well over a million people entered most of them fleeing conflict in Syria and overwhelmed reception capacities in Greece and Italy, in the process sparking one of the EU's biggest political crises. The 27 EU nations have bickered ever since over which countries should take responsibility for people arriving without authorisation, and whether other members should be obliged to help them cope. Arriving for the meeting in Luxembourg, the EU's top migration official, Home Affairs Commissioner Ylva Johansson said it was an extremely important day to resolve what has been a marathon issue for Europe. Of this marathon, we have maybe 100 metres left. So, we are so close to actually find an ...

PGA Tour, Europe to merge with Saudi Arabia and end LIV litigation

The most disruptive year in golf ended Tuesday when the PGA Tour and European tour agreed to a merger with Saudi Arabia's golf interests, creating a commercial operation designed to unify professional golf around the world. As part of the deal, the sides are dropping all lawsuits involving LIV Golf against each other effective immediately. Still to be determined is how players like Brooks Koepka and Dustin Johnson, who defected to Saudi-funded LIV Golf for nine-figure bonuses, can rejoin the PGA Tour after this year. Also unclear was what form the LIV Golf League would take in 2024. Commissioner Jay Monahan said in a memo to players that a thorough evaluation would determine how to integrate team golf into the game. The agreement combines the Public Investment Fund's golf-related commercial businesses and rights including LIV Golf with those of the PGA and European tours. The new entity has not been named. They were going down their path, we were going down ours, and after a lot

India hoping to negotiate with EU on carbon tax instead of WTO complaint

India filed a discussion paper with WTO about how environmental regulations impact trade, but with respect to CBAM specifically, it hopes direct negotiations with the EU will yield speedy resolution

European Union wants Big Tech to alert users about AI's 'dark sides'

Jourova has met with over 40 companies that signed up for the code. Elon Musk's Twitter left last month

WTO ruling on IT products: India, EU to jointly defer appeal by 3 months

A deferment through mutual agreement of an appeal will give both parties time to resolve the dispute

European Union for greater transparency for default swaps on 8 banks

US banks saw total deposits decline by a record 2.5 per cent in the first quarter of 2023

Twitter has dumped bloc's code of practice on disinformation: EU official

Twitter has dropped out of a voluntary European Union agreement to combat online disinformation, a top EU official said Friday. European Commissioner Thierry Breton tweeted that Twitter had pulled out of the EU's disinformation code of practice that other major social media platforms have pledged to support. But he added that Twitter's obligation remained, referring to the EU's tough new digital rules taking effect in August. You can run but you can't hide, Breton said. San Francisco-based Twitter responded with an automated reply, as it does to most press inquiries, and did not comment. The decision to abandon the commitment to fighting false information appears to be the latest move by billionaire owner Elon Musk to loosen the reins on the social media company after he bought it last year. He has rolled back previous anti-misinformation rules, and has thrown its verification system and content-moderation policies into chaos as he pursues his goal of turning Twitter into a digital

More than 9,000 Afghans file asylum applications in EU in a month

It is reported that Syrians and Afghans are the largest groups of asylum seekers in the EU member states over the past years

EU's proposed carbon tax won't affect trade relation with India: Timmermans

European Union's climate policy chief Frans Timmermans on Friday said the bloc's proposed carbon tax will not have any negative effect on its trade relationship with India and that it would do nothing that is in violation of World Trade Organisation rules. The EU plans to implement a carbon import tax of 25 to 30 per cent on high carbon goods such as steel, cement, aluminum, iron, fertilisers, electricity and hydrogen. This has led to concerns about the impact on developing nations heavily reliant on carbon-intensive industries. The Carbon Border Adjustment Mechanism (CABM), expected to be introduced in its transitional phase from October, is part of the EU's larger climate strategy which focuses on incentivising member countries to reduce their carbon emissions and adopt greener practices. "If India fulfills all its ambitions in terms of greening the economy and reducing the carbon footprint and creating comparable footprints to the EU, there is no worry that CBAM will have a ...

India appeals to the void in WTO dispute over ICT tariffs on mobile phones

A trade expert said India's appeal only against the Japan case and not against the EU one could be to avoid EU retaliation

Europe's AI rules are not for negotiation: EU's Breton on OpenAI threat

Altman's comments at a conference a day earlier came as the European Union seeks to expand its AI rules to cover generative AI tools, such as OpenAI's ChatGPT

India, EU should use trade council for stable green energy supplies: Frans

European Union's climate policy chief Frans Timmermans on Thursday suggested using the India-European Union Trade and Technology Council to have access to technology and raw material necessary for stable green energy supplies to fight the climate crisis. On the first day of his two-day crucial diplomatic mission to India to discuss developments on emission reductions and clean energy transition, Timmermans also called for collectively setting a renewable energy generation goal on the international stage. Addressing the 'Confederation of Indian Industry Annual Session 2023' here, he said the whole nature of the cooperation between the EU and India should be focused on how "we create the instruments that will allow us transform our economies and societies in a way that we create sustainable jobs". "If you want to depend more on sustainable energy, you have to develop systems which create stability in energy supplies which means battery systems and green hydrogen systems for which you

European Commission's climate policy chief on two-day mission to India

The European Commission's climate policy chief Frans Timmermans is arriving in India on Thursday for a two-day crucial diplomatic mission to discuss latest developments at the national level on emission reductions and clean energy transition. Environmental protection and the United Nations Climate Change Conference in Dubai later this year will also be part of the discussion. According to a statement from the Delegation of the European Union to India, the Executive Vice-President for the European Green Deal will hold bilateral meetings with Union Environment Minister Bhupender Yadav; Minister of Power, New and Renewable Energy Raj Kumar Singh, Minister of Coal Prahlad Joshi; and Minister for Petroleum and Natural Gas Hardeep Singh Puri. These meetings aim to foster collaboration and explore potential avenues for cooperation between the European Union (EU) and India in tackling the pressing climate challenges. Timmermans will participate in a high-level round table organised by the

EU defence ministers fail to agree on new military aid to Ukraine amid war

The bloc's foreign policy chief Josep Borrell recalled that more than 10 billion euros in military support have already been provided to Ukraine

European defense ministers meet in Poland to discuss Ukraine's defenses

Defense ministers and senior defense officials from 12 northern European countries are meeting in Poland on Monday to discuss stepping up deterrence and security on NATO's eastern flank and strengthening Ukraine's defenses, ahead of NATO's summer summit. They are meeting at military facilities in Legionowo, near Warsaw, as part of the so-called Northern Group - a platform for developing security initiatives for NATO and European Union members. Officials will also discuss preparation for the July NATO summit in Vilnius, Lithuania, according to Denmark's Acting Defense Minister Troels Lund Poulsen. That summit is expected to gauge prospects for Ukraine's membership. Recently, the US agreed to allow training on American-made F-16 fighter jets, laying the groundwork for their eventual transfer to Ukraine. Initiated by Britain in 2010, The Northern Group includes The Netherlands, Germany, Denmark, Finland, Iceland, Norway, Sweden, Poland and the three Baltic states. Germany and Norway

Meta fined 1.2 bn euros for breaching European Union's privacy laws

The tech giant has also been ordered to stop transferring data collected from Facebook users in Europe to the United States of America

Exports to EU worth $1.3 bn to be impacted by deforestation rule: GTRI

India's exports of products like coffee, leather hides and paperboard worth USD 1.3 billion annually to the European Union will get impacted due to the deforestation regulation adopted by the EU earlier this week, a report by economic think tank GTRI said on Thursday. Within three weeks of introducing the carbon border tax, the European Union Council on May 16 adopted the European Union Deforestation-Free Products Regulation (EU-DR). The Global Trade Research Initiative (GTRI) said that the EU-DR appears to prioritise protecting its own agricultural sector and promoting exports, making imports more difficult as it is a trade barrier disguised as a green measure. The regulation covers cattle, buffalo, the meat of bovine animals, preparations, Oil cake, soya beans, palm oil, cocoa bean, powder, chocolate, coffee, leather hide, skin, paper, paperboard, wood, wood articles, wood pulp, boards and wood furniture. The exporters now have to ensure that these products have been grown on lan

Regulating AI

Europe is moving to set standards