Eu Financial News

Europe’s highest human rights court has ruled that its member nations must better protect their citizens from the consequences of climate change

European Union Court of Justice ruled on Wednesday to remove Russian billionaires Mikhail Fridman and Petr Aven from a list of individuals facing European Union sanctions after Russia's attack on Ukraine in 2022. «The General Court considers that none of the reasons set out in the initial acts is sufficiently substantiated and that the inclusion of Mr Aven and Mr Fridman on the lists at issue was therefore not justified,» the Luxembourg-based court said in a statement.

The idea was simple: To meet progressively higher carbon emission-reduction targets in line with its climate-action commitments under the Paris Agreement and the UN Framework Convention on Climate Change (UNFCCC), the EU needed to impose higher obligations on its own industrial activities in carbon-intensive sectors. As a result, it had to tackle two challenges.

NEW DELHI : The ministry of corporate affairs has extended the timeline for consultations on the draft Digital Competition Bill, as well as the report filed by the committee on digital competition law, to 15 May. The Bill and the CDCL report propose a standalone regulation on tackling big tech firms, and the impact of their market might in India.

A banner running down the side of the European Commission’s headquarters in Brussels depicts cartoon workers recladding its 13-floor façade with solar panels. The illustration might come across as a cruel joke to residents of the Belgian capital, for whose leaden skies the phrase “fifty shades of grey" could have been coined. But thanks to green edicts devised by the Euro-wallahs at the commission, the continent’s fields and rooftops are being paved with very real photovoltaic cells.

The move is a further blow for the controversial initiative which has already been hit with multiple bans around the world.

The Spanish government says it will scrap so-called “golden visas” that allow wealthy people from outside the European Union to obtain residency permits on investing more than half a million euros (dollars) in real estate

Apple proposal would comply with their order to let Spotify and other music streaming services inform users of payment options outside its App Store, the European Commission said on Monday. The iPhone maker risks antitrust charges and fresh fines if its proposal announced last Friday fails to satisfy the EU competition enforcer, which issued its order together with a 1.84 billion euro ($2 billion) fine last month

Microsoft is unbundling its video conferencing platform Teams from the Office suite after a European probe into anti-competitive practices. Bundling of apps is under regulatory scrutiny everywhere. But breaking up Big Tech might not be the magic bullet.

EU antitrust regulators are checking to see if an Apple proposal would comply with their order to let Spotify and other music streaming services inform users of payment options outside its App Store, the European Commission said on Monday. The iPhone maker risks antitrust charges and fresh fines if its proposal announced last Friday fails to satisfy the EU competition enforcer, which issued its order together with a 1.84 billion euro ($2 billion) fine last month

TOKYO—Japan’s largest telecommunications company and the country’s biggest newspaper called for speedy legislation to restrain generative artificial intelligence, saying democracy and social order could collapse if AI is left unchecked. Nippon Telegraph and Telephone, or NTT, and Yomiuri Shimbun Group Holdings made the proposal in an AI manifesto to be released Monday. Combined with a law passed in March by the European Parliament restricting some uses of AI, the manifesto points to rising concern among American allies about the AI programs U.S.-based companies have been at the forefront of developing.

China's electric vehicle companies do not rely on subsidies to gain a competitive advantage and accusations by the U.S. and Europe of «overcapacity» are groundless, Commerce Minister Wang Wentao said on Sunday in Paris. Wang made the remarks at a roundtable meeting of Chinese firms in Paris, where he is set to discuss China's exports of EVs into the European market among other things.

Peter Pellegrini won Slovakia's presidential election Saturday against pro-Western diplomat Ivan Korcok. Opposition-backed Korcok conceded defeat as nearly complete results showed he had received 47 percent of the vote against former prime minister Pellegrini's 53 percent.

Criminal networks in the European Union are penetrating legal businesses across the 27-nation bloc and rely heavily on corruption to develop their activities

Finland says it will extend the closure of its border crossing points with Russia beyond the current April 14 deadline “until further notice” due to a high risk of organized migration orchestrated by Moscow

United States and its Western allies are feuding with Russia over its diamond production, but they joined forces Wednesday to keep supporting the Kimberley Process, which aims to eliminate the trade in "blood diamonds" that helped fuel devastating conflicts in Africa. At a U.N. General Assembly meeting, its 193 member nations adopted a resolution by consensus recognizing that the Kimberley Process, which certifies rough diamond exports, «contributes to the prevention of conflicts fueled by diamonds» and helps the Security Council implement sanctions on the trade in conflict diamonds.

Anna Morris and PDO Assistant Secretary for Economic Policy Eric Van Nostrand are travelling to New Delhi and Mumbai from April 2-5 to meet with government and private sector counterparts, the Treasury said in a statement on Wednesday. «They will discuss key bilateral issues, including cooperation on anti-money laundering and countering the financing of terrorism, other illicit finance issues, and continued implementation of the price cap, which seeks to further limit the profits Russia receives to fund its illegal invasion while promoting stable global energy markets,» it said. Following Russia's February 2022 invasion of Ukraine, the G7 nations, the European Union, and Australia jointly implemented a price cap. This cap prohibits the utilisation of Western maritime services, including insurance, flagging, and transportation, for tankers transporting Russian oil priced at or above USD 60 per barrel.

Green hydrogen (GH2) and green ammonia segments are estimated to drive investments of $125 billion (about ₹10.43 lakh crore) in India by 2030, according to a report by investment banking firm Avendus Capital. The report, titled 'Green Hydrogen, The Next Frontier In Energy Transition', said the growth would be driven by an increasing focus on sustainability, demonstrated commercial viability, ever-expanding use cases and a strong regulatory push. GH2 is made by electrolysis of water, using power from renewable energy sources. It does not emit any greenhouse gases. Efforts are on globally to make green hydrogen the fuel that can help countries attain their net-zero emission targets.

Inflation has fallen again in Europe, to 2.4% in March

Either you adapt or you die - that’s the sentiment across the globe when it comes to the adoption of digital assets, including cryptocurrencies, by traditional banks.

In many ways, the recently concluded agreement between India and the European Free Trade Association (EFTA) is mainly a confidence building measure for India in the run-up to trade agreements likely to be pursued after general elections with the EU and UK. In most cases, the I-EFTA pact will have limited impact—India’s principal import from the four-nation group, gold, is not subject to pre-determined tariff reductions, while agricultural imports are excluded.