Page 13 - European Union

Growth in renewables saved $11 bn for EU in gas imports since Ukraine war

Clean power covered 24% of the EU's energy needs between March and September this year, the highest ever for this six-month period, according to a study by think tanks E3G and Ember

Sitharaman discusses global economic situation with EU economy commissioner

India's Finance Minister Nirmala Sitharaman met European Union's Commissioner of Economy Paolo Gentiloni here and the two leaders discussed the current global economic situation, the Union Ministry of Finance said. Sitharaman is here to attend the annual meetings of the International Monetary Fund and the World Bank. On the sidelines of these, she has been holding a number of bilateral and multilateral meetings. During their meeting on Friday, Sitharaman and Gentiloni discussed issues related to the global economy and furthering India-EU collaboration during India's Presidency of the G-20 in 2023, the ministry said. They also discussed the need to further strengthen Multilateral Development Banks to enable them to help countries in need, it said. So far, Sitharaman has held nearly a dozen bilateral meetings with her counterparts from major countries and those from the neighbourhood. She met German Finance Minister Christian Lindner on Thursday. The two ministers discussed several

European Union to unveil Ukraine training mission, weapons fund support

The European Union is set to announce next week that it's setting up a military training mission in Europe for thousands of Ukrainian troops and will provide around half a billion more euros (dollars) to help buy weapons for the war-torn country, diplomats and officials said Friday. The aim is to train almost 15,000 Ukrainian troops in a number of EU countries, chiefly Poland and Germany, the officials said. It would range from standard military training to specialised instruction, based on Ukraine's needs. The EU hopes to have it operational by mid-November. EU foreign ministers will endorse the plans at a meeting in Luxembourg on Monday. The officials and diplomats spoke on condition of anonymity to provide details before the plans are officially announced. Several EU and NATO nations are already helping to train the Ukraine armed forces on a bilateral basis, but diplomats said that this would be more cost effective and efficient with a centralised command structure better able

EU ministers discuss joint gas purchases, electricity market reform

EU energy ministers held an informal meeting here to discuss solutions for high gas prices, preparing for the energy situation this winter, and a possible revision of the electricity market

Swiss cricket: Newest kid on the block has a strong subcontinent flavour

Among the players, those from India, Pakistan, Afghanistan, Sri Lanka, Jamaica

Indian exporters keeping fingers crossed as recession clouds loom over EU

Exporters are keeping their fingers crossed due to "visible" recessionary trends in the European Union (EU) as it could affect demand for domestic goods in that market in the coming months. The EU is one of major export destinations for Indian exporters, accounting for about 15 per cent of India's total outbound shipments. "There are visible symptoms of recession in the EU. Energy crisis is looming there. Buyers are delaying orders from India. They are concerned but hopeful," Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai said. He, however, added that the situation in the EU provides an opportunity for Indian exporters to enhance efforts to boost exports to countries like Russia. "Sanction of Russia gives us an opportunity to tap that market," Sahai said, expressing confidence that India's total merchandise exports would reach USD 470 billion in 2022-23 as against USD 420 billion in 2021-22. Biswajit Dhar, a professor of economics at Jawaharlal Nehru

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

EU rules: What makes the USB-C port the gold standard of charging ports?

Even Apple will be forced to comply with EU rules mandating USB-C ports for all phones and tablets etc. Here we try to explain what makes this port the right choice for everyone

Gas price cap: European Union lawmakers struggle to iron out differences

European Union leaders converged on Prague Castle on a crisp Friday morning to try to bridge significant differences over a natural gas price cap as winter approaches and Russia's war on Ukraine fuels a major energy crisis. The price cap is one of several measures the 27-nation bloc is preparing to contain an energy crisis in Europe that is driving up prices for consumers and business and which could lead to rolling blackouts, shuttered factories and a deep recession over the winter. As the Europeans bolster their support for Ukraine in the form of weapons, money and aid, Russia has reduced or cut off natural gas to 13 member nations, leading to surging gas and electricity prices that could climb higher as demand peaks during the cold months. Standing in the way of an agreement is the simple fact that each member country depends on different energy sources and suppliers, and they're struggling to see eye-to-eye on the best way ahead. A group of 15 member countries has urged the EU'

IOL gets European Union's regulatory approval for supply of Ethyl Acetate

IOL Chemicals and Pharmaceuticals on Thursday said it has received regulatory approval from the European Union for the supply of a chemical, ethyl acetate. IOL started production of ethyl acetate in 1996 and exports it to more than 40 countries. Ethyl acetate is primarily used as a solvent and diluent. It is also used in nail varnish remover, circuit board cleaners, paints and perfumes. In a statement, the company said it has received the REACH certification, which will open a window to IOL to export ethyl acetate across the European market. The REACH is an EU regulation adopted to strengthen the protection of human health and the environment. The law aims at boosting the competitiveness of the EU chemicals sector, it said. IOL also announced the appointment of REACHLaw as their only representative (OR) to assist the company in broadening arms and expanding its territory in European nations. IOL said it has the largest single-location plant of ethyl acetate in India with a product

EU adopts 8th package of sanctions for restrictive measures against Russia

The EU has adopted a new package of sanctions aimed at stepping up and reinforcing restrictive measures against Russia, the EU Council said in a statement

Leaders of Spain, Germany discuss ongoing energy crisis before EU summit

The leaders of Spain and Germany held talks in Spain Wednesday, two days before both participate in an European Union summit to discuss Europe's energy crisis derived from Russia's invasion of Ukraine. Spanish Prime Minister Pedro Snchez hosted German Chancellor Olaf Scholz in the northwestern city of A Corua. The two centre-left leaders were accompanied by 15 ministers from their governments. The EU summit in Prague on Friday will likely include discussions on Germany's plan to subsidise gas prices for its consumers and businesses, a move that has raised questions from France and Italy. Snchez said that he empathises with Germany due to its pressing need to find alternatives to Russian gas and oil, while adding that the EU should find common solutions. Both Snchez and Scholz support reforming the EU's energy market. The consequences of the war in Ukraine impact us all, but clearly it has a greater impact on the countries with a higher dependency on Russian carbon-based fuels so w

EU agrees on price cap for Russian oil over Ukraine conflict

European Union countries agreed on Wednesday to impose new sanctions on Russia after it illegally annexed four regions in Ukraine, according to an EU official, including an expected price cap on Russian oil. EU member-state diplomats struck the deal in Brussels, said the official representing the Czech Republic, which holds the 27-nation bloc's rotating presidency. No details of the sanctions were immediately released. They will be published as soon as Thursday. They are expected to include a price cap on Russian oil, curbs on EU exports of aircraft components to the country and limits on steel imports from it. The moves build on already-unprecedented European sanctions against Russia as a result of its war against Ukraine since February. EU measures to date include restrictions on energy from Russia, bans on financial transactions with Russian entities including the central bank and asset freezes against more than 1,000 people and 100 organisations. The EU is already planning to

European shares fall as selling pressure kicks in after recent gains

European indexes fell in early trading and US futures were down as selling pressure kicked in Wednesday after a few days of strong gains. Asian shares advanced, led by a nearly 6 per cent jump in Hong Kong's share benchmark as markets there caught up after reopening from a holiday. Easing concerns about interest rate hikes by central banks have helped push markets higher in the past few days, but worries over inflation persist. Britain's FTSE 100 fell 1.2 per cent to 7,002.15 ahead of a speech by British Prime Minister Liz Truss where she was expected to defend her economic plans, including tax cuts that have roiled markets. Truss says she will stick with her plan to reshape Britain's economy through tax cuts and deregulation in a bid to end years of sluggish growth and create a new Britain for the new era. France's CAC 40 fell 0.7 per cent to 5,996.89 in early trading, while Germany's DAX slipped 0.8 per cent to 12,574.14. The future for the S&P 500 was down 0.7 per cent while ..

Ahead of Czech meet, leaders fear brakes on European Union enlargement

Leaders from more than 40 countries meeting in the Czech capital on Thursday are set to launch a European Political Community aimed at boosting security and prosperity across the continent. But critics claim the new forum is an attempt to put the brakes on European Union enlargement. The Prague meeting is the brainchild of French President Emmanuel Macron and is backed by German Chancellor Olaf Scholz. It's taking place with Russia's war on Ukraine in its eighth month and as pressure builds to allow Ukraine to join the 27-nation EU. The war in Ukraine and the legitimate aspiration of its people, just like that of Moldova and Georgia, to join the European Union, encourages us to rethink our geography and the organisation of our continent, Macron said in May in a speech outlining his idea. But even with the outpouring of support for Ukraine in the form of weapons so it can fight back, or shelter for people fleeing Macron said, we all know perfectly well that the process which would

European Union adopts law requiring USB Type-C in iPhones by end of 2024

All devices that support fast charging will now have the same charging speed, allowing users to charge their devices at the same speed with any compatible charger

Pakistan PM Shehbaz Sharif thanks EU for 30 million Euro humanitarian aid

Pakistan Prime Minister Shehbaz Sharif expressed gratitude to the European Union for providing 30 million Euro humanitarian aid for the flood victims.Taking to Twitter, PM Sharif said, "Grateful to European Union, particularly @vonderleyen, President of @EU_Commission for the announcement of EUR30 million in new EU humanitarian aid for Pakistan.""Gravity of food & health challenges can be met through deeper cooperation from the world," he added.Earlier, the United Nations launched the revised flash appeal of USD 816 million to respond to the need of people affected by floods.The revised '2022 Pakistan Floods Response Plan' (FRP) was shared with UN member states and humanitarian organizations in Geneva, according to United Nations Office for the Coordination of Humanitarian Affairs (OCHA)."The revised appeal urgently seeks USD 816 million to respond to the growing lifesaving needs of the people - a jump of USD 656 million from the initial appeal of USD 160 million," the OCHA said

EU ministers agree to include energy self-sufficiency in recovery plans

The Ministers of Finance and Economic Affairs of the EU member states, meeting in Luxembourg, agreed to include energy self-sufficiency in their national recovery and resilience plans

Apple forced to change charger in Europe as EU approves overhaul

The new rules will make USB-C connectors used by Android-based devices the standard across the 27-nation bloc, forcing Apple to change its charging port for iPhones and other devices

High-level dialogue forum with EU to renew after decade-long freeze: Israel

Israel announced on Sunday that a high-level dialogue forum with the European Union (EU) will be renewed in Brussels on Monday after a decade-long freeze