Eu Financial News

The European Council recently approved the EU’s Corporate Sustainability Due Diligence Directive (CSDDD), a due-diligence requirement that creates a legal liability for EU-based firms arising from any environmental and human-rights violations (including labour rights) within their supply chains. The CSDDD awaits a nod from the European Parliament, which is going for elections in June. Indian exporters are still grappling with the European Union’s Carbon Border Adjustment Mechanism (CBAM) that will effectively tax our carbon-intensive industries serving EU markets.

Romania and Bulgaria partially joined Europe’s Schengen ID-check-free travel zone, marking a new step in the two countries’ integration with the European Union

The French foreign minister has pressed China on trade issues and the war in Ukraine ahead of a planned visit to France by Chinese leader Xi Jinping later this spring

Premier League club Everton has reported losses of 89.1 million pounds ($112.5 million) in its latest accounts

Microsoft will stop packaging its Teams videoconferencing app with its Office software after the practice attracted antitrust scrutiny

imports from China declined 3% in calendar year 2023 over 2022, the commerce and industry ministry said Monday, adding that exports to both China and the EU rose 7.1% and 2.1%, respectively during the period. The statement comes more than a week after report by the United Nations Conference on Trade and Development (UNCTAD) showed that India’s trade dependence on China and the EU increased in 2023 while it reduced on Saudi Arabia. In its Global Trade Update on March 22, the UNCTAD said that India’s trade dependence on China and the EU increased 1.2% each in 2023 while it reduced 0.6% on Saudi Arabia. Trade interdependence between China and the US decreased further in 2023.

Developing economies of East Asia and the Pacific are set to see slowing growth, with higher-for-longer interest rates and worsening geopolitical tensions clouding the outlook for the region, the World Bank said.

Hindustan Aeronautics Ltd is the industry partner of the textiles ministry for this project. "With this, India will have its own technology and manufacturing units. The project will be completed in the next three years," the second official said.

Microsoft will sell its chat and video app Teams separately from its Office product globally, the U.S. tech giant said on Monday, six months after it unbundled the two products in Europe in a bid to avert a possible EU antitrust fine. The European Commission has been investigating Microsoft's tying of Office and Teams since a 2020 complaint by Salesforce-owned competing workspace messaging app Slack.

Gold prices touched a record high on Monday after data showed that U.S. inflation moderated in February, boosting bets for the Federal Reserve's June interest rate cut. FUNDAMENTALS * Spot gold rose 1% at $2,255.39 per ounce, as of 0103 GMT. Bullion hit a record high of $2,256.09 per ounce earlier in the session.

Austria vetoed Romania and Bulgaria’s admission into the Schengen zone at the end of 2022 but allowed Croatia full accession. Bulgaria and Romania joined the EU in 2007 and Croatia in 2013.

India is looking to increase the export of agricultural value added products by forging partnerships with retail chains and supermarkets of countries like the United Arab Emirates. The commerce department has identified 12 value added food items, including jams, jellies and marmalades, alcoholic beverages, fruit pulp products, dehydrated vegetables and ready to eat products for the purpose. «We plan to concentrate on a few products and push their exports. These are some value-added goods which we are sure would give results,» said an official, who did not wish to be identified. Biscuits, confectionery, mango pulp and value-added products of mangoes, and preserved gherkins and cucumbers are also part of the list. «There's no target set for the export of these 12 categories. We expect a push from the free trade agreements signed recently,» the official said, adding that the plan entails promotions, stakeholder consultations and state tie-ups with supermarkets and retail chains, especially in the UAE, the EU and the US.

The European Union aims to fast-track up to $1.1 billion in financial aid to Egypt, using a funding procedure that bypasses parliamentary oversight and other safeguards

wetlands, are natural. At COP28, though, the focus will be on oil-and-gas companies. Their methane emissions are seen as some of the lowest-hanging fruit, for three reasons.

Germany is set to join the global cannabis revolution on Monday, with a law coming into effect legalising recreational use of the drug. It is the first big European country to legalise the possession and consumption of small amounts of the drug by adults and one of only two among the G7 group of leading world powers, with Canada.

₹70,000 crore in FY25. India's textile exports slid 4.2% to $30.96 billion during April-February, data from the commerce ministry showed. The slowdown in major economies such as the European Union (EU), the US, and West Asian nations is believed to be the primary cause of this decline.

Latvia’s top diplomat said on Thursday he will step down in the wake of a criminal probe over the use of expensive private flights by his office when he acted as the Baltic country’s prime minister between 2019-2023

Ukrainian and Polish leaders say they have made progress on regulating Ukraine food imports that have led to farmer protests in Europe

French President Emmanuel Macron has told Brazilian executives that a proposed deal between the European Union and the South American trade bloc Mercosur is bad for both parties

Western Europe has emerged as a leading region in global crypto adoption, attracting a substantial number of daily traders, ranging from 1.2 million to 1.5 million individuals.

arguing recently in The Economist that even more brutal tariffs might be “necessary". Lighthizer’s heavy blow The German Economic Institute, a think-tank, has calculated the possible impact. Imagine America applies 10% tariffs on its imports and punishes China with even higher tariffs.