Page 66 - European Union

European Union envoys seal deal on joint ammunition buying for Ukraine

Sweden, current holder of the EU's rotating presidency, said the decision "to support the Ukrainian Armed Forces through $1.10 billion for joint procurement of ammunition and missiles"

WTO ruling against India in tech tariffs dispute with European Union

India, however, believes that such retaliations will eventually be detrimental to the trade on both sides

Officials, industry leaders may meet on May 4 to discuss EU's carbon tax

From January 1, 2026, the EU will start collecting carbon tax on each consignment of steel, aluminium, cement, fertilizer, hydrogen and electricity

No significant impact of Esma ban, say domestic clearing corporations

Industry sources said that as of Tuesday, the European banks continued to use the clearing and settlement services of the CCIL

Space rivals join up to bid for European Union's $6.6 bn satellite plan

The consortium will be run by aerospace manufacturers Airbus SE and Thales Alenia Space SAS along with satellite operators Eutelsat Communications SA, SES SA, and Hispasat SA

Biocon Biologics facility gets EU GMP certification for Bevacizumab

Biotechnology major Biocon on Friday said the Bengaluru-based plant of Biocon Biologics has received EU GMP approval for a biosimilar product. Biocon Biologics' facility has received a certificate of GMP compliance for Bevacizumab from the representative European inspection authority -- Health Products Regulatory Authority (HPRA), Ireland. Bevacizumab is indicated for the treatment of various types of cancers and a specific eye disease. "This approval reflects Biocon Biologics compliance with the highest international regulatory standards and enables the company to continue addressing the needs of patients in the EU," a company spokesperson said in a statement. This (B3) facility, which is one of India's largest monoclonal antibodies (mAbs) manufacturing facilities, had received the EU GMP Certification for manufacturing biosimilar Trastuzumab last year, the spokesperson said. Biocon Biologics is a subsidiary of Biocon Ltd.

Meta gears up for fine and ban in clash over EU-US data transfers

The Irish Data Protection Commission, the main EU privacy watchdog in charge of Meta's Facebook, will announce the decision next month, the company said in its quarterly report

European Union agrees to boost green fuels for aviation, cut emissions

New rules requiring airlines to use more sustainable fuels across the European Union have been agreed by negotiators from member countries and the EU Parliament in a bid to help decarbonise the sector. The European Commission, the bloc's executive arm, said Wednesday that the deal reached by member states and the European Parliament demands that suppliers blend sustainable aviation fuels with kerosene in growing amounts from 2025. The move is expected to reduce aircraft carbon emissions by two-thirds by 2050 compared to a no action' scenario, and provide climate and air quality benefits by reducing non-CO2 emissions," the Commission said. The aviation sector accounts for 13.9 per cent of transportation emissions in the EU, making it the second biggest source of greenhouse gas emissions in the sector after road transport, the Commission says. If global aviation were a country, it would rank in the top 10 emitters. The political agreement is part of the EU 's Fit for 55 package, whic

Russia's Lavrov warns that EU is becoming militarised now, like NATO

Russia's top diplomat warned Tuesday that the European Union is becoming militarised at a record rate and aggressive in its goal of containing Russia. Foreign Minister Sergey Lavrov told a news conference he has no doubts that there is now very little difference between the EU and NATO. Lavrov said they recently signed a declaration, which he said essentially states that the 31-member NATO military alliance will ensure the security of the 27-member EU political and economic organisation. He was apparently referring to a Jan. 19 EU-NATO declaration on their strategic partnership which calls Russia's Feb. 24, 2022, invasion of Ukraine the gravest threat to Euro-Atlantic security in decades. It calls the present moment a key juncture for Euro-Atlantic security and stability and urges closer EU-NATO cooperation to confront evolving security threats, saying this will contribute to strengthening security in Europe and beyond. And it encourages the fullest possible involvement of NATO ...

Twitter, YouTube, Insta among sites to face scrutiny under new EU rules

Twitter, Alphabet's YouTube and Google Shopping, and Meta Platform's Facebook and Instagram, as well as TikTok and Snapchat, will be required to meet the additional requirements

EU following Indian model of ensuring safe, trusted Internet: Chandrasekhar

Union Minister of State for Electronics and IT, Rajeev Chandrasekhar said that the European Union is following the India model of a safe Internet by making social media intermediaries accountable

EU nations seek to end Ukraine farm import standoff amid Russia's war

Hoping to maintain a unified stance on Russia's war in Ukraine, the European Union on Tuesday looked for a way to satisfy the concerns of member nations facing a destabilizing glut of Ukrainian farm exports. The 27-nation EU lifted agricultural import restrictions last year to help Ukraine get its vast grain supplies to world markets amid a Russian blockade. Eastern European nations like Poland, Hungary, Bulgaria and Slovakia have since reported being flooded with imported products. To protect their farmers, the countries unilaterally banned Ukrainian farm imports for their national markets. The moves went against the principle that the EU sets trade policy for all 27 nations and could give the impression that the bloc is fighting internally instead of facing Russia jointly. We are really, really afraid of the consequences of these unilateral restrictions. And Finland sees that this restrictions can call into question unity in support of Ukraine, Finnish Agriculture and Forestry ...

India exploring options after WTO panel ruling, rules out immediate impact

The statement comes a day after Business Standard reported quoting an EU spokesperson that EU may impose retaliatory tariffs on Indian goods if New Delhi doesn't abide by the WTO ruling

Microsoft to stop bundling Teams with Office to avoid antitrust probe

Meanwhile, Twitter CEO Elon Musk has threatened to sue Microsoft over claims that the company "trained illegally using Twitter data"

Iran slaps 'retaliatory' sanctions on EU, British individuals, entities

The Iranian Foreign Ministry has imposed sanctions on 17 individuals and four entities of the European Union and the UK for "supporting terrorism and fomenting violence and unrest in Iran"

EU evacuates 1,200 European citizens from Sudan, says foreign affairs chief

The European Union (EU) has completed the evacuation of 1,200 European citizens on 31 flights from Sudan, the bloc's foreign affairs chief Josep Borrell said

Top headlines: WTO ICT levy dispute, Micron's semiconductor plant & more

Business Standard brings you top headlines at this hour

ICT levy dispute at WTO: EU may opt for retaliatory tariffs on Indian goods

The EU had earlier approached India to resolve the matter through the MPIA

Air Pollution Killing 1200 young people every year in Europe: EEA Report

Air Pollution causes 1200 premature deaths every year in Europe. The air pollution level in Europe is below the recommended level of the WHO

India explores all options to deal with EU's proposed carbon border tax

Begins sector-wise analysis to assess the impact