Eu Financial News

The Bank of England is also set to shorten the five-year phase-in period by six months and delay finalising certain rules.

Sensex and Nifty 50 ended lower for the fourth consecutive session on Friday weighed down by weak global cues as the US Treasury yields rose to their multi-year high levels and crude oil prices rose by about a percent. “We expect the market to remain under pressure in the near term given the global concerns. Thus, we suggest investors to have higher allocation towards defensive and large-caps.

India-Middle East-Europe Economic Corridor (IMEC) was launched with the promise of galvanising connectivity and trade through India, the Arabian Gulf and Europe, with an underlying goal of shifting geopolitics in the region, by countering China’s Belt and Road Initiative (BRI). The precise route map of the corridor will be figured out when the stakeholders meet in the next two months. But a Memorandum of Understanding (MoU) unveiled on the sidelines of the G20 leaders’ meeting shed light on its broader contours — a transit through India, the United Arab Emirates (UAE), Saudi Arabia, Jordan, Israel, and Europe.

Britain is pitching itself to the world as a ready leader in shaping an international response to the rise of artificial intelligence

Large technology firms, which already comply with global privacy laws such as European GDPR will be given six months to comply with the new Data Act, according to Rajeev Chandrasekhar, minister of state for electronics and IT.

European Union antitrust enforcers have slapped Intel with a fresh $400 million fine in a long-running legal fight that the chipmaker appeared to have won last year

European battery startups are grappling with how to make less-expensive batteries at scale as they race to meet demand from an electrifying car industry, and while investors are still buying in, there is less enthusiasm than a few years ago. Battery production capacity to meet demand from car makers, whose electrification march is fueled by European Union climate policies, simply doesn’t exist yet in the EU, said Gert Meylemans, the general manager of Eurobat, an association that represents automotive and industrial battery manufacturers. Eurobat commissioned a study in 2019 that suggested battery supply would match demand by 2024.

The European Parliamentary Research Service (EPRS) highlighted the need for tighter oversight from non-European Union regulators to ensure greater stability and development in the global cryptocurrency market.

European Commission slapped a reduced fine of 376 million euros ($400 million) against US chipmaker Intel Friday for abusing its dominance in the computer chip market, after an EU court annulled a bigger penalty. The European Union's antitrust enforcer said Intel had «engaged in a series of anticompetitive practices aimed at excluding competitors from the relevant market», it added.

Binance has raised concerns about the potential delisting of stablecoins in Europe due to the upcoming implementation of the European Union's Markets in Crypto Assets (MiCA) regulation. 

Poland's Office for Personal Data Protection has opened an investigation into a complaint against OpenAI's ChatGPT, with an unnamed applicant accusing the firm of processing data in an "unlawful, unreliable manner."

India's crypto industry may have to wait for up to two years for a more lenient crypto tax regime, as per domestic exchange WazirX's CEO. 

ESMA) is said to have proposed to the Reserve Bank of India to continue their existing Memorandum of Understanding on the treatment of clearing houses, a step that could resolve roadblocks to billions of dollars' worth of bond trading. The latest communication by Europe's top financial markets regulator to the RBI, made earlier this month, comes amid a standoff between the Indian central bank and European authorities over the latter's requirement of rights of audit and inspection of domestic clearing houses, including The Clearing Corporation of India Ltd (CCIL). «Around two weeks ago, ESMA put forward the idea of continuing with the current MoU that is in place. The existing framework does have certain provisions for oversight but within a clearly defined understanding that nothing would be done bypassing the RBI,» a person aware of the development said. «The root of the disagreement that broke out since last year is the EMIR (European Market Infrastructure Regulation) 2 which has far greater provisions of foreign oversight over domestic clearing houses.

By Rodrigo Campos

NEW DELHI : Belgium is planning a high level visit from its senior leadership to India early next year, according to persons aware of the matter. The visit is expected to be at the foreign minister or prime minister level. This comes as Belgian firms eye opportunities in India’s burgeoning defence market, on the footsteps of French, Spanish and German defence firms that have stitched up lucrative contracts with India.

An executive at cryptocurrency exchange Binance said in a public hearing with the European Banking Authority (EBA) that it plans to delist stablecoins for the European market by June 2024. 

(Reuters) — The United Arab Emirates is considering introducing export licenses for a list of items including chips and other components sanctioned by the U.S. and European Union and used by Russia's military in Ukraine, Bloomberg News reported on Thursday, citing people familiar with the matter.

An executive at the cryptocurrency exchange Binance said in a public hearing with the European Banking Authority (EBA) that it plans to delist stablecoins for the European market by June 2024. 

Cryptocurrency-friendly brokerage firm eToro is expanding its crypto services worldwide after securing new regulatory approval in Europe.

OpenAI over a complaint that its ChatGPT chatbot breaks European Union data protection laws known as the GDPR, it said. OpenAI has already faced at least its second class action lawsuit in San Francisco federal court for allegedly breaking privacy laws. It did not respond to requests for comment when the lawsuit was reported earlier this month.

By Anna Pruchnicka