Page 3 - Europe

Revellers throng to New Year's parties across world after Covid hiatus

Revellers in major city centers across Europe and the Middle East were ushering in 2023 with countdowns and fireworks, as many cities around the globe celebrated New Year's Eve without restrictions for the first time since the start of the coronavirus pandemic. Children crowded a metro station in Kharkiv, Ukraine, to meet with St. Nicholas and enjoy a special performance ahead of the new year. Meanwhile, some soldiers who said they usually celebrate the holiday with family decided to stay in the trenches as they sought to defend their country. Others in Ukraine returned to the capital, Kyiv, to spend New Year's Eve with their loved ones. As Russian attacks continue to target power supplies, leaving millions without electricity, no big celebrations were planned. A curfew was to be in place as the clock struck midnight. French President Emmanuel Macron delivered a message of unity and trust in a televised address Saturday. Referencing the war in Ukraine several times, Macron also sent

Ukraine aims to hold peace summit this winter: Foreign Minister Kuleba

Ukrainian Foreign Minister Dmytro Kuleba said that Kiev is counting on holding a summit to discuss the peace plan for Ukraine by the end of February

Europe set the bar on Russian gas high enough to leave India unaffected

The impact of the gas price cap on India may, however, be muted as the EU, fearing disruptions to domestic gas supplies in winter, set the bar very high

World shares mixed before updates on US consumer spending, durable goods

Shares rose in Europe on Friday after a retreat in Asia ahead of updates on US consumer spending and durable goods orders. Benchmarks climbed in London and Paris but fell in Hong Kong, Tokyo and Seoul. Oil prices surged more than USD1 a barrel. Japan reported its core inflation rate, excluding volatile fresh foods, rose to 3.7per cent in November, the highest level since 1981, as surging costs for oil and other commodities added to upward price pressures in the world's third-largest economy. While price increases are much more modest in Japan than in the US and most major European and emerging economies, they add to pressure on the Bank of Japan to adjust longstanding policies that have kept interest rates ultra-low to spur growth. For Japan, deflation falling prices rather than inflation has been the key concern for most of the past few decades. Recession in coming months remains a greater concern, economists say. Inflation edged up in November and will peak at around 4 per cen

Amazon may breach trademark rights over fake Louboutin ads: European Court

Online retail giant Amazon could be held responsible for breaching luxury shoemaker Christian Louboutin's trademark rights over the sale of counterfeit red soled high-heeled shoes on its platform, the European Court of Justice ruled on Thursday. Third-party sellers on Amazon regularly advertise red-soled stilettos that are not made by Louboutin. The French designer brought cases against the company in Belgium and Luxembourg in 2019, arguing that he did not give his consent for these products to be put on the market. Louboutin shoes' red outer sole, for which they are known, is registered as an EU and Benelux trademark. The EU's top court said that users could mistakenly think that Amazon itself is selling shoes on behalf of Louboutin, noting that it may be the case when, for instance, Amazon displays its own logo on the third-party sellers' ads, and when it stores and ships the shoes in question. These circumstances may indeed make a clear distinction difficult, and give the ...

Germany returns to coal as energy crisis overpowers climate targets

Europe's largest economy is burning the fossil fuel for electricity at the fastest pace in at least six years

High regulatory burden, taxes keep cars out of reach of Indians: Automaker

The levies by the Indian govt have made purchasing vehicles expensive for the population, said RC Bhargava, Maruti Suzuki's chairman

Indians flocking both foreign and local getaways as travel recovers: Airbnb

The traveller is also expanding his travel horizons, looking to explore new getaways abroad

Europe's $1 trillion energy bill only marks beginning of the crisis

After this winter, the region will have to refill gas reserves with little to no deliveries from Russia, intensifying competition for tankers of the fuel

Ukrainian parliament adopts laws to launch membership talks with EU

The Ukrainian Parliament has adopted all laws needed for launching membership talks with the European Union, Parliament Speaker Ruslan Stefanchuk said

BoE holds meetings with foreign banks in India; keen to resolve CCIL logjam

European regulators' decision affects more market segments than US norms

Team MRF Tyres bags European Rally Championship Award

Team MRF Tyres has bagged the European Rally Championship 2022 Awards here at the prestigious Federation Internationale de l'Automobile (FIA) Gala

Five questions for 2023

These questions will shape the world economy in the new year, and matter to India

Two-wheeler companies get over 2-year breather on emission sensor

Rule deferred as trial results were 'far from satisfactory'

Air India to spend $400 mn to refurbish Boeing 777s and 787 fleet

Carrier will add new seats and best in-flight entertainment across all classes

Europe's new tranche of sanctions on Russian oil kick in: What changes?

Russia has consistently said it won't sell oil to countries that participate in the price cap

Emerging markets face risk of policy error amid conflicting priorities

Emerging markets have witnessed an investor exodus this year despite having raised interest rates at an unprecedented pace

India-EU Competition Week on digital resolutions starts on Monday

Experts from the European Union would share their experiences in applying antitrust laws to the digital economy and markets and the introduction of the EU's Digital Markets Act

Europe not strong enough now, would be in trouble without US: Finnish PM

Finnish Prime Minister Sanna Marin said that Europe is not "strong enough right now" and that it "would be in trouble without the US".

New UK govt examining our proposal, promised to come back soon: Narendran

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon