Page 6 - Europe

Energy stockpiling in overdrive soothes worries of winter shortfall

Europe's natural gas storage sites are about 92% full, above the the five-year average of 87.6%. Germany has hit 95%, a level it aimed to reach by Nov. 1

European stocks head higher on UK policy turnaround; yen hits fresh low

European stock indexes opened higher on Tuesday, in a revival of risk appetite which analysts attributed to the turnaround in UK fiscal policy

FY23 will likely be double digit on revenue...and profitable: Mindtree MD

In a Q&A, Debashis Chatterjee, who is also the firm's CEO, talks about the demand environment, merger with LTI and moonlighting

Turkey, Russia to study Russian President Putin's gas hub proposal

Turkish President Recep Tayyip Erdogan says Turkey and Russia have instructed their respective energy authorities to immediately begin technical studies on a Russian proposal that would turn Turkey into a gas hub for Europe. Russian President Vladimir Putin has floated the idea of exporting more gas through the Turk Stream gas pipeline running beneath the Black Sea to Turkey after gas deliveries to Germany through the Baltic Sea's Nord Stream pipeline were halted. Erdogan said Russian and Turkish energy authorities would work together to designate the best location for a gas distribution center, adding that Turkey's Thrace region, bordering Greece and Bulgaria appeared to be the best spot. Together with Mr. Putin, we have instructed our Ministry of Energy and Natural Resources and the relevant institution on the Russian side to work together, Erdogan said. They will conduct this study. Wherever the most appropriate place is, we will hopefully establish this distribution center there

Vladimir Putin suggests turning Turkey into gas hub for Europe

Russian President Vladimir Putin on Thursday doubled down on his proposal to turn Turkey into a gas hub for Europe after deliveries to Germany through the Baltic Sea's Nord Stream pipeline were halted. Putin floated the idea of exporting more gas through the Turk Stream gas pipeline running beneath the Black Sea to Turkey as he met with Turkish President Recep Tayyip Erdogan on the sidelines of a regional summit in Kazakhstan. It's the second unlikely energy proposal that Putin has pitched in as many days, with European leaders calling Russia's cuts in natural gas a political bid to divide them over their support for Ukraine. It's created an energy crisis heading into winter that has fueled inflation, forced some industries to cut production and sent home utility bills soaring. A day earlier, Germany rejected Putin's proposal to step up gas flows to Europe via a link of the Nord Stream 2 pipeline under the Baltic Sea a pipeline that has never been operational despite Moscow cuttin

India's inflation at 7.4%; What are inflation numbers in other countries?

Since the start of the Russia-Ukraine war in February, almost all the economies have been facing high inflation mainly driven by high commodity costs, and supply chain constraints

Russia ready to resume gas supplies to EU via Nord Stream 2: Putin

Russian President Vladimir Putin said Wednesday that Moscow is ready to resume gas supplies to Europe via a link of Germany-bound Nord Stream 2 pipeline under the Baltic Sea. Speaking at a Moscow energy forum, Putin again charged that the U.S. was likely behind the explosions that ripped through both links of the Nord Stream 1 pipeline and one of the two links of the Nord Stream 2 pipeline, causing a massive gas leak and taking them out of service. The U.S. has previously rejected similar allegations by Putin.

Rising clout: Which countries have adopted NPCI-backed UPI payments so far

With Europe being the latest addition to the list, several countries across the globe are adopting UPI for P2P, P2M and cross-border payments

No e-visa facility for UK travellers likely to hit business: Goa tourism

Goa tourism industry stakeholders have said their business is likely to get affected this tourist season due to the withdrawal of e-visa facility for visitors from the United Kingdom. The chartered flights which were supposed to arrive from the UK in October, when the new tourist season commences in Goa, have been postponed to November, Travel and Tourism Association of Goa (TTAG) president Nilesh Shah said on Tuesday. TTAG is an apex tourism body in the coastal state. The UK no longer falls within the over 150 countries that can access the online tourist e-visa option when travelling to India, which has caused a considerable strain for tourists. Shah said the issuance of e-visas for travellers from the UK had stopped during COVID-19 pandemic. The UK and Russia are two important destinations from where visitors arrive in Goa during the tourist season. As per figures of the Goa tourism department, before the outbreak of COVID-19, around 40,000 tourists used to arrive from the UK .

Travelling to Europe? Now make hassle-free payments using UPI on your phone

Those visiting Europe will be able to make payments through UPI as the NPCI International Payments Ltd (NIPL) has entered into a partnership with European payment services facilitator Worldline. NIPL is the global arm of the National Payments Corporation of India (NPCI). The partnership between NIPL and Worldline is aimed at expanding acceptance of Indian payment means across Europe, according to a joint release issued on Tuesday. Under the partnership, Worldline's QR code-based mechanism will allow merchants' Point-of-Sale (PoS) systems in Europe to accept UPI payments from Indians using their mobile phones. Later on, the Indian customers will also be able to use their RuPay debit or credit cards to make payments in Europe. This will result in a multitude of customer-related merchant benefits due to an increase in footfall and spending from Indian tourists, NPCI and Worldline said in the release. Currently, Indian customers pay through international card networks when they trav

Startup funding drops by 80% YoY to $3 bn in Q3 of Calendar 2022: Tracxn

Average ticket size also dips across all funding stages, late-stage sees biggest fall of 70%, indicating that investors aren't willing to make large investments until economic conditions improve

Amazon to invest over 1 bn Euros to electrify delivery fleet in Europe

E-commerce giant Amazon has announced that it will invest more than one billion euros to further electrify its transportation fleet across Europe over the next five years

Amid energy crisis, desperate Europeans return to firewood for warmth

Not far from Berlin's Nazi-era Tempelhof airport, Peter Engelke is putting up a new security gate at his warehouse because of concerns about desperate people pilfering his stock

Zelenskyy, NATO Secretary-General discuss Ukraine Euro-Atlantic integration

Ukrainian President Volodymyr Zelensky has said that he held a phone conversation with NATO Secretary-General Jens Stoltenberg to discuss Ukraine's Euro-Atlantic integration

Europe faces 'unprecedented risk' of gas shortage after Russian cuts: IEA

Europe faces unprecedented risks to its natural gas supplies this winter after Russia cut off most pipeline shipments and could wind up competing with Asia for already scarce and expensive liquid gas that comes by ship, the International Energy Agency said. The Paris-based IEA said in its quarterly gas report released Monday that European Union countries would need to reduce use by 13% over the winter in case of a complete Russian cutoff amid the war in Ukraine. Much of that cutback would have to come from consumer behavior such as turning down thermostats by 1 degree and adjusting boiler temperatures as well as industrial and utility conservation, the group said. The EU on Friday agreed to mandate a reduction in electricity consumption by at least 5% during peak price hours. Just a trickle of Russian gas is still arriving in pipelines through Ukraine to Slovakia and across the Black Sea through Turkey to Bulgaria. Two other routes, under the Baltic Sea to Germany and through Belaru

Palestine urges Europe to put pressure on Israel against West Bank conflict

Palestine has urged the European countries to tie their relations with Israel to its adherence to international law, UN resolutions, and human rights principles

Russia accused of 'kidnapping' head of Europe's largest nuclear plant

Ukraine's nuclear power provider accused Russia on Saturday of kidnapping the head of Europe's largest nuclear power plant, a facility now occupied by Russian troops and located in a region of Ukraine that Russian President Vladimir Putin has moved to annex illegally. Russian forces seized the director-general of the Zaporizhzhia Nuclear Power Plant, Ihor Murashov, around 4 p.m. Friday, Ukrainian state nuclear company Energoatom said. That was just hours after Putin, in a sharp escalation of his war, signed treaties to absorb Moscow-controlled Ukrainian territory into Russia. Energoatom said Russian troops stopped Murashov's car, blindfolded him and then took him to an undisclosed location. His detention by (Russia) jeopardizes the safety of Ukraine and Europe's largest nuclear power plant, said Energoatom President Petro Kotin said. Kotin demanded that Russia immediately release Murashov. Russia did not immediately acknowledge seizing the plant director. The International Atomic

Mass fish deaths in Europe's Oder river blamed on brackish water algae

The recent mass fish deaths in the Oder river that runs through Poland and Germany were caused by the proliferation of brackish water algae

Sweden finds fourth leak on Nord Stream pipelines in the Baltic Sea

A fourth leak on the Nord Stream pipelines has been reported off southern Sweden, the Swedish news agency said on Thursday. Sweden's coast guards told news agency TT that they have a vessel on the site of the leak, off Sweden. All four detected leaks are in international waters, two near Sweden and two near Denmark. The Nord Stream pipelines run through the Baltic to transport gas from Russia to Germany. Neither pipeline was operating, but both were filled with gas. The Danish and Swedish governments believe that the leaks off their countries were deliberate actions. Before the leaks were reported, explosions were recorded. A first explosion was recorded by seismologists early on Monday southeast of the Danish island of Bornholm. A second, stronger blast northeast of the island that night was equivalent to a magnitude-2.3 earthquake. Seismic stations in Denmark, Norway and Finland also registered the explosions. Some European officials and energy experts have said Russia is likel

World Bank President Malpass warns of stagflation, recession in Europe

In a speech at Stanford University, Malpass said there was an increased likelihood of recession in Europe, while China's growth was slowing sharply and U.S. economic output had contracted