Eu Financial News

Mint, Deloitte said that given the implementation of the Global Anti-Base Erosion (GloBE) rules in these countries from 1 January, Indian headquartered multinational business groups with a presence there will be required to comply with the GloBE rules even if New Delhi is yet to implement it. Accordingly, Indian multinational groups will have to provide for top-up tax, if applicable, in their financial statements for the year ended 31 March 2024, Deloitte said in its analysis.

Mint. The partnership could be in the form of a memorandum of understanding, similar to the one Bharat 6G signed with the US last September. One of the sources said Bharat 6G and Industry Alliance 6G would sign an agreement soon.

Iraq's conservative society, however there had not previously been a law that explicitly punished same-sex relations. Members of Iraq's LGBTQ community have been prosecuted for sodomy or under vague morality and anti-prostitution clauses in Iraq's penal code.

Stablecoin adoption is increasing rapidly. Data from research firm rwa.xyz shows the number of addresses holding both dollar and crypto-pegged stablecoins has increased by 15% in 2024, which is the highest to date. 

Apple's App Store, where the apps were listed as "art generators." After 404 Media's report surfaced, which detailed how these apps were advertised and linked to on Instagram, Apple was asked for comment but did not immediately respond. However, once the article was published, the company reached out to request more details. After receiving direct links to the specific ads and App Store pages, Apple promptly removed the apps from its platform.

The regulation reports to create enhanced due diligence measures and checks on customer’s identity. Obliged entities, such as banks or cryptocurrency asset managers, have to report any suspicious activities to Financial Intelligence Units (FIUs) or other competent authorities. This is an increased level of due diligence on the cryptocurrency industry.

The European Union (EU) has formally passed a new anti-money laundering regulation (AMLR), applicable to all crypto-asset service providers (CASPs).

Bitcoin’s inflation rate has reached a new milestone, recording an all-time low of approximately 1.74%, just days after the latest Bitcoin halving. 

French President Emmanuel Macron is warning that Europe could “die” if it fails to build its own robust defense as Russia’s war in Ukraine rages on

A ship traveling in the Gulf of Aden has come under attack, the latest assault likely carried out by Yemen’s Houthi rebels over Israel’s ongoing war on Hamas in the Gaza Strip

A top European Union top military officer says a frigate that’s part of an EU mission in the Red Sea to protect merchant shipping has destroyed a drone launched from an area in Yemen controlled by Houthi rebels

India's engineering goods including steel and machinery exports rose 10.7% year-on-year in March to $11.28 billion, growing in double digits for the second straight month, despite ongoing supply issues caused by disruption to shipping through the Red Sea, a trade body said. Engineering goods, which account for one-fourth of merchandise exports, rose 2.13% in the 2023/24 financial year, to $109.3 billion from a year earlier, Engineering Export Promotion Council (EEPC), a body affiliated with the Commerce Ministry, said in a statement on Thursday. Exports have been dented by a slowdown in global demand, the ongoing Russia-Ukraine war and the Red Sea shipping crisis brought on by conflict in the Middle East, exporters said.

The big U.S. aid package for Ukraine and other allies that President Joe Biden signed Wednesday also allows the administration to seize Russian state assets located in the U.S. and use them for the benefit of Kyiv

Singapore and Hong Kong. ETO is a pesticide classified as a carcinogen. The move follows a ban imposed by the two countries on certain spices exported by Indian brands MDH and Everest. Singapore and Hong Kong have alleged the presence of ETO in certain spices exported by the two companies. The government also said spice consignments to other countries will also be strictly monitored for the presence of ETO.

The European Union says it will investigate whether China is using unfair methods to deprive companies in Europe of access to its market for medical devices

TikTok is halting a feature on its new app rewarding users in Europe for watching videos, after facing pressure from regulators worried about its addictive features

BRUSSELS—The European Union is ramping up economic pressure on Beijing with two new probes into allegations of unfair Chinese business practices, days ahead of Chinese President Xi Jinping’s planned visits to Paris and Budapest. The European Commission, the bloc’s executive body, is voicing growing concern over Chinese subsidies and other economic policies that it says harm European businesses.

An ECB executive board member wants Apple to change how iPhone payments work to support a potential digital euro. He claims the tech giant’s current system may not support offline payments for any European Central Bank digital currency.

Renowned crypto entrepreneur Arthur Hayes has shared his insights on the macroeconomic landscape, predicting a strengthening trend that could further propel  Bitcoin’s  ascent. 

Oil prices rose in early trade on Wednesday, adding to gains in the previous session, after industry data showed a surprise drop in U.S. crude stocks last week, a positive sign for demand, and attention shifted away from hostilities in the Middle East. Brent crude futures rose 9 cents, or 0.1%, to $88.51 a barrel and U.S. West Texas Intermediate crude futures gained 10 cents, or 0.11%, to $83.45 a barrel at 0031 GMT.

NEW DELHI : Indian companies directly or indirectly in business with European firms face a twin hurdle as Germany tightens its screws on a new law aimed at ensuring fair labour standards and environmental requirements. For Indian businesses already subject to Europe’s carbon tax, Germany’s supply chain rules would mean additional compliance and reporting costs, apart from fines and loss of business opportunities for any violations, industry experts told Mint.