Eu Financial News

Israel Katz has ordered Israel's ambassadors from Ireland and Norway to immediately return to Israel, as Norway said it would recognize a Palestinian state and Ireland was expected to do the same. «Ireland and Norway intend to send a message today to the Palestinians and the whole world: terrorism pays,» Katz said.

The European Union has reprimanded Kosovo over the unilateral closure of six branches of a Serbia-licensed bank

Kosovo police have closed six branches of a Serbia-licensed bank in line with the decision on the ban of the use of the Serbian dinar currency in the country

Apple Inc. is challenging a €1.8 billion ($1.9 billion) fine levied by the European Union for thwarting fair competition from music-streaming rivals, including Spotify Technology SA. The iPhone maker has filed a suit at the EU’s General Court in Luxembourg to topple the March decision, according to people familiar with the matter who spoke on condition of anonymity.

European Commission is set to increase Schengen visa fees from June 11, 2024. Slovenia’s Ministry of Foreign and European Affairs confirmed that while visa fees for adults will increase from €80 to €90 for adult applicants beginning, visas for children aged six to twelve will also increase, from €40 to €45. Furthermore, countries not cooperating with the readmission of their irregularly staying citizens in the EU may face visa fees rising to €135 or €180. «The European Commission adopted a decision to increase short stay Schengen visa (visa type C) fees worldwide by 12 per cent. The increase will apply worldwide as of 11 June 2024,» the Slovenian government said in a statement. The fee increase follows a review of EU visa fees in December 2023, which occurs every three years as mandated by the Schengen Visa Code. The EU cites inflation and civil servants' salaries as reasons for the hike. The last increase was in February 2020 when fees rose from €60 to €80.

raised tension with neighboring Serbia. A police statement said they closed the branches of the Postal Savings Bank, following a request from financial institutions on their illegitimacy and based on an authorization from the prosecutor’s office. Starting on Feb.

In charts: India’s spices exports raise a stink abroad Certain Everest and MDH products were recently found to have violated rules around ethylene oxide residue in Singapore and Hong Kong, resulting in recalls and bans of specific batches of their products in these markets. Hong Kong completely prohibits ethylene oxide in food products, while Singapore has a limit of 50 parts per million. The European Union's limit is even lower, ranging from 0.02 to 0.1 mg per kilo.

Bell 212 helicopter carrying Iran's president and foreign minister crashed on Sunday, according to Iranian state media, as it flew through mountains in heavy fog. The civilian version of the ubiquitous Vietnam War-era UH-1N «Twin Huey,» they are in wide use globally by both governments and private operators:

Mohammad Mokhber, 68, has been appointed as Iran's interim president following the death of Ebrahim Raisi in a helicopter crash. Mokhber, Iran's first vice president, now leads a three-person council responsible for organizing a new presidential election within 50 days.

Cryptocurrency exchange Kraken reassured users it has no plans to delist Tether stablecoin USDT in Europe and will continue to follow all legal requirements.

European Union about its proposed regulation that seeks to benchmark exporting countries as low or high risk basis deforestation levels. The EU's deforestation-free product regulation has implications for India's coffee, cocoa, soya, wood products, rubber and its products, and leather goods exports. The regulation requires firms to ensure that the product exported to the EU has been grown on land which has not been deforested after December 31, 2020. It prescribes fines up to 4% of a firm's annual turnover in the EU, confiscation of product and revenues gained from a transaction. The new rules will apply to large firms from December 2024 and small firms from June 2025.

GPT-4o language model at its Spring Update event on Monday. The Sam Altman-led company has said that GPT-4o is a step towards human-centric communication. The new model has multimodal capabilities and can make conversations across audio, vision and text in real time.

Poland is investing about $2.5 billion to step up security and deterrence on its borders with Russia and its ally Belarus, the prime minister said Saturday. Donald Tusk said work on the Shield-East project which includes building proper military fortifications has already begun. Poland is on the eastern flank of NATO and of the European Union and Tusk stressed it bears additional responsibility for Europe's security. «We have taken the decision to invest into our safety and first of all, into a safe eastern border, some 10 billion zlotys ($2.5 billion),» Tusk said.

Donald Trump the edge over Joe Biden on the economy in poll after poll. That's even as the Biden years have been the best time to find work since the 1960s, and the US has bounced back from the pandemic with stronger growth than international peers such as the EU, UK and Japan and stronger growth overall than under President Trump. Instead, voters this year are focused on the steep jump in prices from the post-pandemic surge in inflation.

Motilal Oswal Financial Services. Also read: Gold rate today: Gold price retraces from three-week high despite US Fed rate cut buzz, weak US dollar. Buy or wait? Damani added, “The CME Fed-watch tool showed traders pricing in a greater chance of a 25 bps cut in September, at nearly 54%.

The European Union opened fresh investigations into Facebook and Instagram over suspicions that they’re failing to protect children online, in violation of the bloc’s strict digital regulations for social media platforms

Robert Fico was shot multiple times after a political event Wednesday afternoon, an episode of violence that punctuated his decades-long career in politics. His deputy prime minister Tomas Taraba later told the BBC he believed Fico would survive the attack, saying «he's not in a life threatening situation at this moment.»

India is considering formulating standard operating procedures (SOP) for negotiating free trade agreements (FTAs) as the country is engaging with several trade partners for such pacts, an official said. To discuss the various aspects of these agreements, the commerce ministry is organising a two-day 'Chintan Shivir' on FTA strategy and SOPs for trade negotiations. Former commerce secretaries, industry experts and government officials would participate in the deliberations on May 16-17 at Neemrana, Rajasthan. Various issues that would come up for deliberations include India's trade strategy and vision 2047; economic assessment and modelling of FTAs; inclusion of new disciplines into FTAs such as labour, environment, gender, indigenous people; services and digital trade; SOPs for FTA negotiations; and industry experience on utilisation of the FTAs.

Mercedes-Benz NXT, the German automotive giant’s Web3 arm, is launching a new non-fungible token (NFT) collection in partnership with Mojito, a suite for creating NFT marketplaces.

demand in the European Union, West Asia and the US has boosted export order books by at least 10% from six months before, companies said, signalling a possible recovery from last year. Leather goods, footwear, and apparel are driving demand but engineering goods shipments for new projects are facing a challenge due to geopolitical tensions, exporters said. «Overall, compared to the last six months, the order position has improved 15-20% for leather footwear especially from the US and partially Europe,» said Rafeeq Ahmed, chairman, Farida Group, one of India's largest shoe manufacturers and exporters. «The demand for non-leather footwear is also coming up.» India's total goods exports in FY24 fell 3.1% to $437 billion from $451 billion in the previous fiscal. Apparel exporters cited an increase of over 10% in orders starting February, mostly from the UK, US and the EU. «The decline in demand has slowed and there are obvious signs of improvement. Industry has an ambitious target of $20 billion apparel exports in FY25,» said Mithileshwar Thakur, secretary general, Apparel Export Promotion Council.

Most countries in the European Union are making efforts to “de-risk” their economies from perceived threats posed by China