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India is set to tie duty reductions associated with the trade agreement with the European Free Trade Association (EFTA) to investments made by companies from member nations, including Switzerland, Norway, Iceland, and Liechtenstein, reported TOI. These nations have collectively pledged to invest $100 billion over a span of 15 years. The FTA is scheduled to be signed on Sunday following its clearance by the Union cabinet on Thursday evening. Negotiations for the agreement commenced in 2008 but were halted after the Modi government assumed office in 2014, as per a TOI report.

NEW DELHI, MUMBAI : The proposed free trade agreement between India and the European Free Trade Association is unlikely to address the issue of carbon tax—a key concern for domestic steelmakers looking to export to Europe. The two trading partners will instead address the issue through a separate pact later, two government officials told Mint. EFTA and India are likely to sign a free trade pact on Sunday, these officials said.

Mint reported that the four nations making up the European Free Trade Association (EFTA) have offered duty-free market access for India’s animal products, fish, processed food and vegetable oils in a trade pact that is expected to be signed next week. The EFTA nations–Iceland, Liechtenstein, Norway and Switzerland–have also proposed a $100 billion investment in India by their companies over 15 years, which is estimated to create about a million jobs. The two sides began negotiations for a trade treaty in 2008.

NEW DELHI : The four nations making up the European Free Trade Association (EFTA) have offered duty-free market access for India’s animal products, fish, processed food and vegetable oils in a trade pact that is expected to be signed next week, two people aware of the matter said. The EFTA nations—Iceland, Liechtenstein, Norway and Switzerland—have also proposed $100 billion of investment in India by their companies over 15 years, which could create about a million jobs, the people said on the condition of anonymity. The two sides began negotiations for a trade treaty in 2008.

UK Visas and Immigration information on gov.uk, the UK sponsor licence was a must for people who want to employ someone from outside the UK, including citizens of EU member countries, Iceland, Liechtenstein, Norway and Switzerland who arrived in the UK after December 31, 2020. Education providers, too, needed a sponsor licence to get overseas students and faculty into the UK.

India does not 'rush' into any Free Trade Agreement (FTA) if the pact is not equitable, balanced, and fair for the country, Commerce and Industry Minister Piyush Goyal on Friday said. He said that the ground realities in India have changed now and the offers made by partner countries in these agreements are «not at all» comparable to what India is offering to the world. At present, negotiations for FTAs with the UK, Oman, and the four-nation European Free Trade Association (EFTA) are nearing conclusion. EFTA members are Iceland, Liechtenstein, Norway, and Switzerland.

India on Thursday said it has rejected the demand of the four European nations EFTA bloc for inclusion of a 'data exclusivity' provision in proposed free trade agreements, stating that it always protects the interests of the domestic generic drugs industry. Commerce Secretary Sunil Barthwal said there is no Free Trade Agreement (FTA) in which India will go against the generic drug industry. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. The bloc is negotiating a trade agreement with India. «They want that there should be data exclusivity, we rejected their demand. We are with our generic industry.

A volcano in southwestern Iceland has erupted for the third time since December and sent jets of lava into the sky

D9 had originally anticipated that approval would be granted by the end of Q1 2024.

European Free Trade Association (EFTA)—the four-nation trading block comprising Iceland, Liechtenstein, Norway, and Switzerland—are close to signing a trade agreement after both sides have reached an understanding on key issues, news agency PTI reported citing a senior official on Monday. "Following extensive negotiations, a shared understanding has been achieved on key issues during the ministerial meeting. Ongoing efforts are now focused on shaping the convergence that has emerged," the news agency quoted the official as saying Commerce and Industry Minister Piyush Goyal held a meeting recently with Swiss Federal Councillor Guy Parmelin in Mumbai.

free trade agreement between India and the four-nation EFTA bloc are at an advanced stage as both sides have reached a shared understanding on key issues, a senior official has said. The European Free Trade Association (EFTA) members are Iceland, Liechtenstein, Norway, and Switzerland. India and the EFTA have been negotiating the pact, officially dubbed as Trade and Economic Partnership Agreement (TEPA), since January 2008 to boost economic ties.

Apple has promised to open up its tap-and-go mobile payment system to rivals as a way to resolve an antitrust case and avoid potentially billions in fines

Apple is prepared to open the iPhone's ability to tap-to-pay to rivals — in the EU — after coming under fire for keeping users in its own ecosystem, the European Commission and the company said on Friday. The commission, the European Union's market regulator, said it was weighing Apple's proposal, which was made after Brussels determined that the Cupertino company enjoys a dominant position in iOS mobile wallet transactions by shutting out competitors.

A volcano has erupted in southwestern Iceland for the second time in less than a month, sending semi-molten rock spewing toward a nearby settlement

(Reuters) -A volcano erupted in southwest Iceland on Sunday, with molten lava flows reaching the outskirts of a small fishing town by midafternoon, setting some houses alight, although the town was evacuated earlier and no people were in danger, authorities said.

HIVE Digital Technologies Ltd., a prominent player in the blockchain and digital asset mining sector, has successfully closed a significant financing deal. On December 28, 2023, the company completed the sale of 5,750,000 special warrants, resulting in aggregate gross proceeds of approximately CAD $28.75 million​​​​. This marks a pivotal moment for HIVE, which focuses on Bitcoin mining and developing environmentally friendly data centers.

Prime Minister Narendra Modi on Wednesday inaugurated the 10th Edition of Vibrant Gujarat in state capital Gandhinagar. Several heads of states and top industry captains attended the inauguration ceremony.  Amid high-pitched investments, we spoke with Finland’s Ambassador to India Kimmo Lähdevirta. Since January 1 this year, those who are interested in travelling to Finland and requiring a Schengen visa, will now need to provide details of more funds to qualify. 

Finland will have to show more funds in thei bank accouts to be eligible for a Schengen visa. Effective from the new year, the Ministry for Foreign Affairs in Finland has implemented new regulations impacting short-stay travelers requiring Schengen visas. Travelers will now have to show a minimum of 50 euros for each day spent in Finland, marking an increase of 20 euros from the previous requirement. This 66% hike comes in response to escalating living costs, the ministry said. A Schengen visa serves as an entry permit for short-term or temporary visits, granting individuals access to travel within the Schengen area, encompassing multiple European countries. Along with the increased financial requirement, Finland has introduced a new proof of sponsorship or accommodation scheme. This initiative allows visa applicants to use the financial resources of their hosts in Finland to meet the stipulated funds requirement. Under this arrangement, hosts are required to complete the sponsorship form, which the visa applicant must include along with the rest of the application. This provision aims to enhance the transparency and accountability of financial arrangements for those seeking short-term stays in Finland.

Scotch whisky and electric vehicles and mobility of skilled workers are yet to be resolved in the proposed trade pact between India and the UK, and are likely to be taken up in the next round of talks in January, an official said on Friday. India is also considering discussing longer transition period and tax restoration for its exporters once the UK's carbon border tax on imported goods kicks in from 2027, as part of the trade pact. Yet, New Delhi remains hopeful of closing three trade pacts — with the UK, Oman and the European Free Trade Association (EFTA) — early next year, the official said. Iceland, Liechtenstein, Norway, and Switzerland comprise the EFTA. In the negotiations with the UK, the two sides have resolved most of the issues related to rules of origin and intellectual property rights chapters, the official said. The pact has 26 chapters. The UK's demand for liberalisation of norms in services sectors like banking, insurance, and legal, and India's ask for easy movement of professionals are some of the unresolved issues.

Residents of the small fishing town in Iceland where a volcano erupted this week have been told they can return home

Christmas reflects a diverse tapestry of traditions worldwide, where each culture adds its unique and occasionally eccentric customs to the festive celebration. Christmas is observed on December 25th, and serves as a commemoration of the birth of Jesus Christ. While the Bible doesn't specify the exact date of Jesus' birth, early Christians opted for December 25th to coincide with pagan winter solstice celebrations.