Page 2 - Europe

Europe reaches deal for $100 per barrel price cap on Russian diesel

European Union governments tentatively agreed on Friday to set a USD 100-per-barrel price cap on sales of Russian diesel to coincide with an EU embargo on the fuel steps aimed at ending the bloc's energy dependence on Russia and limiting the money Moscow makes to fund its war in Ukraine. Diplomats representing the 27 EU governments set the cap on Russian diesel fuel, jet fuel and gasoline ahead of a ban taking effect on Sunday. It aims to reduce Russia's income while keeping its diesel flowing to non-Western countries to avoid a global shortage that would send prices and inflation higher. The information was provided by diplomats from 3 different EU member nations ahead of a formal announcement by the Group of Seven major industrialized nations. They spoke on condition of anonymity because the official announcement would come later. The USD 100-per-barrel cap applies to Russian diesel and other fuels that sell for more than the crude oil used to make them. Officials agreed on a US

Tata considers Spain, Britain for EV battery plant for supply in Europe

India's Tata is considering setting up a battery cell plant for electric vehicles (EV) in Spain or Britain

Dollar sustains momentum, rise slightly as traders await US jobs numbers

The dollar picked up against the euro, with the latter down 0.1% to $1.09 in early European trading

German unemployment rate climbs to 5.7% in January; over 2.62 mn jobless

The number of jobless people in Europe's largest economy rose by 162,000 month-on-month to just under 2.62 million in January

Euro zone economy unexpectedly grows in Q4 but weak 2023 looms

France registers unexpected GDP expansion while Italy shrinks

Instagram expands short-post feature 'Notes' for users in Europe, Japan

Social media platform Instagram has expanded its 'Notes' feature, a way for users to share their thoughts, to Europe and Japan

Australian dollar jumps, kiwi slumps after unexpected inflation data

The euro held near a nine-month peak against the dollar, as traders weighed a rosier growth outlook for the euro zone against growing signs of a looming US recession

English football clubs make up more than half of Europe's top earners

English football clubs cemented their position as the sport's wealth generators, making up more than half of Europe's top earners with Manchester City taking the top spot for a second year running

European gas slumps to 16-month low on back of strong supply outlook

Gas markets have turned calmer after a tumultuous period last year when energy prices surged to records and hammered economies everywhere

Energy war, chip-battle, Taiwan in focus at WEF in a turbulent world order

For the titans of commerce gathering in Davos this week, all of this marks a shift away from the era of ever-closer global ties, when big business thought it had succeeded in making the world flat

RBI open to non-bank arms route to end stalemate with ESMA: Report

The proposal came up in a meeting between RBI deputy governor T Rabi Sankar and senior officials from European banks

Japanese PM Kishida highlights security concerns on trip to Europe, US

Japanese Prime Minister Fumio Kishida begins a weeklong trip Monday to strengthen military ties with Europe and Britain and bring into focus the Japan-U.S. alliance at a summit in Washington, as Japan breaks from its postwar restraint to take on more offensive roles with an eye toward China. Kishida's talks with U.S. President Joe Biden on Friday will highlight his five-nation tour that also takes him to France, Italy, Britain and Canada some of Group of Seven nations with which Japan has stepped up defence ties. His first stop is Paris on Monday. Kishida said his summit with Biden will underscore the strength of the Japan-U.S. alliance and how the two countries can work more closely under Japan's new security and defense strategies. Japan in December adopted key security and defense reforms, including a counterstrike capability that makes a break from the country's exclusively self-defense-only postwar principle. Japan says the current deployment of missile interceptors is ...

Vladimir Putin's energy gambit fizzles as warm winter saves Europe

While a cold snap or delivery disruptions could still throw energy markets into disarray, optimism is growing that Europe can now make it through this winter and next

Japan PM Kishida highlights security concerns on trip to Europe, US

Japanese Prime Minister Fumio Kishida begins a weeklong trip Monday to strengthen military ties with Europe and Britain and bring into focus the Japan-U.S. alliance at a summit in Washington, as Japan breaks from its postwar restraint to take on more offensive roles with an eye toward China. Kishida's talks with U.S. President Joe Biden on Friday will highlight his five-nation tour that also takes him to France, Italy, Britain and Canada some of Group of Seven nations Japan has stepped up defense ties with in recent years. His first stop is Paris on Monday evening. Kishida said his summit with Biden will underscore the strength of the Japan-U.S. alliance and how the two countries can work more closely under Japan's new security and defense strategies. Japan in December adopted key security and defense reforms, including a counterstrike capability that makes a break from the country's exclusively self-defense-only postwar principle. Japan says the current deployment of missile ...

Inflation in Europe continues to dip as energy prices rise at slower pace

The European Central Bank aims to keep inflation near 2 per cent, CNN reported

What can Cristiano Ronaldo expect from Saudi Pro League football, Al Nassr?

As Cristiano Ronaldo was quick to point out, he has spent his storied career playing for the "most important" clubs in Europe. That also meant playing in the most popular leagues in the world in England, Spain and Italy for Manchester United, Real Madrid and Juventus. His move to Saudi Arabian club Al Nassr, however, signals a step into the unknown. The Saudi Pro League is unlikely to have been on the radar of the majority of his loyal following, but it is where the next and likely last chapter of his career will be played out after signing a two-and-a-half-year contract with Al Nassr. He will also hope to compete in the Asian Champions League next season if his new club qualifies for the biggest competition in Asian soccer. "In Europe my work is done," Ronaldo said when presented by Al Nassr in Riyadh on Tuesday. But what can the 37-year-old five-time Champions League winner expect from Saudi soccer? "I know the league is very competitive. People don't know that, but I know bec

European nations report record high temperatures for the month of January

Temperatures in the Netherlands, Liechtenstein, Lithuania, Latvia, Czech Republic, Poland, Denmark and Belarus broke national records, the BBC reported

EAM defends India's move to import Russian oil; says Europe imports more

External Affairs Minister S Jaishankar has defended India's move to import crude oil from Russia notwithstanding the growing disquiet over it by Western powers, saying that Europe has imported six times the fossil fuel energy from Russia than India has done since February 2022. Jaishankar, who arrived here from Cyprus on the second leg of his two-nation tour, also said that if the European political leadership would like to soften the impact of the ongoing Russia-Ukraine conflict to their population, it's a privilege they should extend to other political leaderships as well. "Europe has managed to reduce its imports while doing it in a manner that is comfortable. If at a (per capita income) of 60,000 euros, you are so caring about your population, I have a population at USD 2,000. I also need energy, and I am not in a position to pay high prices for oil," Jaishankar said during an interview to Austria's national public broadcaster ORF on Monday. Jaishankar also pointed out that Euro

European gas prices fall to lowest since Feb 21, before Ukraine war began

Lower gas prices are also a relief for the European economy, which is pressured by high inflation rates

Thousands line up to view, pay respect to Pope Benedict at Vatican

Thousands of people lined up across St Peter's Square hours before dawn on Monday to view Pope Emeritus Benedict XVI's body and pay their respects. Public viewing lasts for 10 hours on Monday in St Peter's Basilica. Twelve hours of viewing are scheduled for Tuesday and Wednesday before Thursday morning's funeral, which will be led by Pope Francis, in the square. The frail, 95-year-old Benedict died Saturday morning in the Vatican monastery where he had lived since his retirement in 2013 when he became the first pontiff to resign in 600 years. Security officials expected at least 25,000 people to pass by the body on the first day of viewing.