Eu Financial News

NEW DELHI : A new model of colonialism may arise if countries with large reserves of critical and rare earth minerals do not consider these resources as a global responsibility, Prime minister Narendra Modi on Sunday said, sounding what he called a “serious warning". Addressing the B20 Summit of business representatives from G20 countries, Modi said while critical and rare earth minerals are the need of the entire world, they are unevenly distributed globally—some countries have large quantities of these minerals while others do not have them at all.

NEW DELHI : India may no longer stick to the template for bilateral investment treaties (BIT) that it adopted after terminating most of these treaties in 2016, a senior official aware of the development said. The change in the approach comes at a time when India is negotiating investment treaties alongside free trade agreements with some top trading partners, including the UK and EU, that are looking for stronger investment protection while objecting to the 2016 model BIT.

G20 Summit that is scheduled to take place from September 9 to 10 in the national capital. It is likely to be attended by more than 30 heads of state and top officials from the European Union and invited guest countries and 14 heads of international organizations.

renewable energy, energy storage, telecommunications, defence and healthcare. In June this year, India became a member of the coveted critical minerals club - the Mineral Security Partnership. The announcement was part of a joint statement by prime minister Modi and president Joe Biden during the former's recent US visit.

USB Type-C for its iPhone 15 series, potentially due to EU regulations. Standard iPhone 15 models may have slower charging speeds with Apple-certified cables required. In contrast, leaks suggest that iPhone 15 Pro models could feature a Thunderbolt USB Type-C cable for faster charging, up to 150W power output, and 4K 60Hz output.

European Union on Saturday said it is awaiting India's response to its proposal for setting up of a dedicated dispute settlement mechanism under the bilateral investment protection pact that is being negotiated along with an ambitious free trade agreement (FTA) by the two sides. The EU's Executive Vice-President and Commissioner for Trade Valdis Dombrovskis told a small group of journalists that both sides are engaged in «intensive» negotiations on the proposed FTA and that «progress» has been made on various issues. But at the same time the top EU official, currently on a visit to India, noted that there is «still a lot of work ahead of us». Asked when the FTA can be sealed, he said the main focus has been on «substance over deadlines». To a question, Dombrovskis said there is no direct impact of New Delhi's trade ties with Moscow on the India-EU trade negotiations, adding: «In a sense, we do not see new topics emerging which could be obstacles for the FTA in this context.» Dombrovskis also allayed New Delhi's concerns over its proposed carbon tax on imports of high-carbon goods like steel, iron ore and described it as «non-discriminatory» measure aimed at protecting the planet. Over four months back, the European Union announced its decision to impose the carbon tax on imports on imports of steel, aluminium, cement, fertilisers and electricity as part of its Carbon Border Adjustment Mechanism (CBAM). The CBAM that will come into effect from 2026 is aimed at achieving net zero greenhouse emissions by 2050. «Given that the CBAM is non-discriminatory and non-trade distorted, it doesn't really affect certain countries' producers' ability to export to the EU.

G20 Summit a success despite the inconvenience they might have to face. 'Delhi citizens have got more responsibility for G20...there will be so many guests coming...From 5-15th September, there will be a lot of inconvenience, I apologise for that in advance." the PM said at the meet. "These are our guests...traffic rules will be changed, we will be stopped from going to several places but some things are necessary...", PM Modi added on upcoming G20 summit in Delhi.

petroleum products made from Russian crude oil in India finding way to the European market, saying it defies the purpose of the sanctions against Moscow that are aimed at reducing its ability to finance the war with Ukraine. The European Union's Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis, said oil products processed from Russian crude oil are arriving at the European market in «large quantities» and the grouping is looking at ways to deal with it. In an interaction with a small group of journalists, the EU Vice President, currently on a visit to India, accused Russia of using its energy supplies, and food as «tools» of «war and manipulation» to continue its attack on Ukraine. On the issue of food, Dombrovskis cited Russia withdrawing from the Black Sea grain initiative and blocking Ukraine's export of food grain to the world market. Since Russia's invasion of Ukraine in February last year, the Western powers have imposed a series of sanctions on Moscow including a price cap on Russian oil by G7-plus nations, in order to reduce its ability to finance the war on Ukraine.

Starting Friday, Europeans will see their online life change

Nirmala Sitharaman on Saturday met UK Trade Secretary of State Kemi Badenoch and discussed bilateral investment and free trade agreement (FTA). " FM Smt.

Delhi to help make the upcoming G20 Summit a success despite the inconvenience they might have to face due to the presence of several world leaders here next month. The summit will be held in the national capital from September 9 to 10. It is likely to be attended by more than 30 heads of states and top officials from the European Union and invited guest countries, and 14 heads of international organisations. Addressing a public reception at the airport here on his return from a two-nation visit, Modi also sought forgiveness from people in advance for the inconvenience they might have to face due to the arrangements for the G20 Summit. «The entire country is the host of the G20 Summit, but guests are coming to Delhi. The residents of Delhi have a special responsibility to make the G20 Summit a success. They have to ensure that the reputation of the nation is not affected one bit,» said Modi, who returned from a visit to South Africa and Greece after a brief stopover in Bengaluru where he visited ISRO to congratulate scientists on the success of Chandrayaan-3. He acknowledged that the residents of Delhi might face inconvenience as traffic rules will be changed. «From September 5 to September 15, there will be a lot of inconvenience, and I apologise for that in advance. These are our guests, traffic rules will be changed, you will be stopped from going to several places but some things are necessary,» the prime minister said.

Sajjan Jindal wants the government to counter American tariffs and Europe’s carbon tax with a similar levy, to level the playing field for companies like his. In an interview in New Delhi, the chairman of JSW Group spoke about the outlook for flagship JSW Steel Ltd. and confirmed a Bloomberg News report about its acquisition plans.On carbon taxes Every region is thinking in terms of their own protection. US has import tariffs on steel.

India and Greece on Friday agreed to elevate their relationship to a ‘Strategic Partnership’ as PM Narendra Modi held wide ranging dialogue with Kyriakos Mitsotakis, Prime Minister of Greece in Athens. The two leaders called for respect of international law, sovereignty and territorial integrity in the backdrop of India’s consistent support on Cyprus issue and Greece’s constant support on the Kashmir issue. The PM level discussions covered various dimensions of the bilateral partnership, including trade and investment, defense and security, technology, infrastructure, digital payments, shipping, pharma, agriculture, migration and mobility, tourism, skill development, culture, education and people to people ties, an official informed. They also discussed regional and multilateral issues, including the EU, Indo-Pacific and the Mediterranean. “Greece expressed its support for the India-EU Trade and Investment Agreement. Over the Ukraine issue, both countries support diplomacy and dialogue.

Interest rates in the European Union will need to stay high “as long as necessary” to slow still-high inflation, Christine Lagarde, president of the European Central Bank, said Friday

Starting Friday, Europeans will see their online life change

Firefighters battle multiple wildfires in Greece, including one in the northeast that officials say is the largest recorded in the European Union.

Open Society Foundations plan to significantly curtail their work in Europe and lay off much of their staff there

Estonia’s strongly pro-Ukrainian prime minister is under increasing pressure to resign, after Estonian media revealed her husband’s role in a company that indirectly did business in Russia after the full-scale invasion of Ukraine last year

Deputy governor of the Bank of Spain Margarita Delgado spoke to university students and others about the introduction of the digital euro in Pamplona on Aug. 25. Looking into a future through the lens of the recent European Commission’s recently proposed digital euro legislative plan, she spoke at length about how private payment solutions will interact with the digital euro and its infrastructure.

India on Friday notified sugar exports of 5,841 tonnes to the European Union under the tariff-rate quota (TRQ) scheme for 2023-24 (October 2023 to September 2024). TRQ is a quota for a volume of exports that enters the European Union (EU) with relatively low tariffs.

India and Greece plan to double their bilateral trade by 2030, announced Prime Minister Modi during his official visit to the country on Friday. The bilateral trade stood at nearly $2 billion in 2022-23. India mainly exports aluminum, organic chemicals, fish and crustaceans and iron and steel to Greece, among other things.