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Tag Archives: European Union

European Union in principle to EU7 billion Greece loan

ATHENS: Euro-area finance ministers agreed in principle to extend a 7 billion-euro ($7.6 billion) bridge loan to Greece, said an official familiar with the decision. It is due to be announced on Friday once technical details are sorted and national parliaments vote on the bailout deal, the official said. Read More »

European Union to scrap roaming charges by June 2017

HELSINKI: The roaming fees charged for using a mobile phone while abroad will be abolished within the European Union by June 2017. The abolition has been under preparation for some time and was finally confirmed on Tuesday as the European Commission, the European Parliament and the Council of Europe agreed provisionally to prohibit carriers from charging roaming fees for mobile ... Read More »

Apparel exporters demand interest subsidy to boost exports

NEW DELHI: Apparel exporters’ body AEPC today demanded interest subsidy scheme among other things to boost exports. Apparel Export Promotion Council of India (AEPC) Chairman Virender Uppal said exports grew by 9.24 per cent in April this year but it was 13.4 per cent in April 2014. He said free trade agreement with European Union and Canada would help in ... Read More »

Ukraine keens to negotiates with Russia on free trade deal

MOSCOW: Ukraine’s Ministry of Foreign Affairs has announced a breakthrough in negotiations with Russia over Kyiv’s duty-free trade deal with the European Union – a much needed ray of hope in the ongoing war. But the announcement came amid scandal, as Ukraine offered what it called irrefutable evidence that the Kremlin has continued to send troops to stoke the war ... Read More »

Mexico’s greenhouse-gas emissions will peak in 2026

FRANCE: Mexico became the first developing nation to formally promise to cut its global-warming pollution, a potential milestone in efforts to reach a worldwide agreement on tackling climate change. Mexico’s greenhouse-gas emissions will peak in 2026 and fall thereafter, Environment Minister Juan Jose Guerra Abud said at a news conference in Mexico City Friday. The nation has pledged to curb ... Read More »

Switzerland becomes first country to submit Paris climate deal pledge

OSLO: Switzerland became the first nation on Friday to submit a plan for cutting greenhouse gas emissions beyond 2020 as a basis for a UN deal to limit climate change due to be sealed in December. Some other countries – including China, the United States and the 28-nation European Union – have outlined their domestic plans for slowing global warming ... Read More »

EU, Russia at daggers drawn on excessive import duties on palm oil, refrigerators

MOSCOW: European Union said that there was increasing dispute with Russia on excessive import duties on palm oil, paper product and refrigerators. The challenge is latest in a series of WTO disputes with Russia, the EU’s third biggest trading partner since Moscow joined the body in 2012, although they have been overshadowed by tit-for-tat sanctions triggered by the crisis in ... Read More »

Hungary to modify advertising tax

BUDAPEST: Hungary is going for changing plans of its advertising tax saying the European Commission has concern about this particular legislation. Therefore to take the response of EU’s executive is important about such latest developments. János Lázár, minister at the helm of the Prime Minister’s Office, announced on Tuesday evening that the cabinet was to modify the advertising tax, replacing ... Read More »

EU finance ministers agree to give €1.8b loan to Ukraine to stave off default

KIEV: European Union finance ministers have agreed to loan Ukraine €1.8 billon to stave off a default. Some governments pressed for €2.6 billion in medium-term loans for 2015 and 2016. “The European Commission put €1.8 billion on the table. Some wanted us to do more,” French Finance Minister, Michel Sapin, told reporters. “What is urgent today is to start implementing ... Read More »

Kenya exporters demand Sh1 billion compensation from European Union

NAIROBI: Exporters of fresh produce to the European Union are demanding Sh1 billion in compensation from the union after Kenya was reinstated to preferential market access to Europe. The amount is a result of losses dealers are said to have lost through taxes imposed on fresh produce destined for the EU over a period of three months. The taxes were ... Read More »

EU lifts ban on import of Alphonso mangoes from India

LONDON:  The European Union has lifted a ban on the importation of mangoes from India. Alphonso mangoes were barred from the UK and other member states in April 2014, after authorities in Brussels found consignments infested with fruit flies that they feared could damage European salad crops. A European Commission committee voted unanimously to remove the restriction following significant improvements ... Read More »

EU wants Turkey’s clarification on smuggling of migrants in two cargo ships

ANKARA:  The European Union wants Turkey to explain how human traffickers could have taken two cargo ships filled with migrants out of the country and towards the EU without the authorities noticing. Natasha Bertaud, spokeswoman for the European commission said. “Given what has happened in recent days with the two ships, we wanted to clarify things with the Turkish authorities.” ... Read More »

Free trade zone between EEU, EU helps Russia’s long term goals: Deputy Finance Minister

MOSCOW: Russia sees the long-term goal of cooperation between the Eurasian Economic Union (EEU) and the European Union (EU) in creating a free trade zone that is expected to serve as the basis of a common economic space from the Atlantic to the Pacific, Russia’s Deputy Foreign Minister Vasily Nebenzya told. “This strategic initiative is designed to ensure harmonious development ... Read More »

EU approves €1.9bn out of €4.45bn as assistance program for Turkey

ANKARA: The European Union approved €1.9 billion for Turkey assistance program, Turkey’s Ministry for EU Affairs announced. The approval was given by the bloc’s financial assistance mechanism for candidate and potential candidate’s Instrument for Pre-Accession Assistance. In a statement, Turkey’s EU ministry said the European Commission’s annual budget program determined that Turkey would use €1.96 billion out of the total ... Read More »

EU grants GSP-Plus status to Philippines

MANILA: The European Union (EU) has included Philippines in its list of zero-tariff exports, according to business groups. The Philippines can now export 6,200 tariff lines, including processed fruit and foodstuffs, coconut oil, footwear, fish and textiles. The European Parliament granted the Philippines’ application for the Generalized Scheme of Preference Plus (GSP+), a trade tariff scheme for a 28-member bloc. ... Read More »

Exports to EU up by $909.07m in 9 months: Lifting moratorium on death will not affect GSP Plus

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the lifting moratorium on death penalty will not affect GSP Plus status granted by the European Union to Pakistan. Addressing a press conference, he said that European Union supported Pakistan in war against terror and there was no legal condition of imposing ban on death penalty under United Nations convention. ... Read More »

EU bans investment in Crimea, halts Russia help for oil, gas discovery

BRUSSELS: The European Union banned investment in Crimea, halting European help for Russian Black Sea oil and gas exploration. The new measures, which EU governments have signed off on and will take effect, reinforce the EU’s policy of not recognizing Moscow’s annexation of Ukraine’s Crimea region in March. EU leaders, who meet in Brussels later, will pledge to keep up ... Read More »

Exports to EU up by $909.07m in 9 months: Lifting moratorium on death will not affect GSP Plus

ISLAMABAD: Federal Commerce Minister Khurram Dastgir Khan has said that the lifting moratorium on death penalty will not affect GSP Plus status granted by the European Union to Pakistan. Addressing a press conference, he said that European Union supported Pakistan in war against terror and there was no legal condition of imposing ban on death penalty under United Nations convention. ... Read More »

EU seeks to reduce 0.1% marine sulfur, invests €2.5m on LNG terminal in Germany

BERLIN: The European Union’s TEN-T programme will invest almost €2.5 million for studies and pilot construction of an LNG terminal in the Port of Bremen, Germany. European regulations require the shipping sector to reduce marine sulfur emissions in the North Sea to 0.1% as of 1 January 2015. One of the ways to reach this objective is to use cleaner ... Read More »

European Union terms Turkey as key partner

LONDON:  The European Union has reaffirmed the importance it attaches to its relations with Turkey, in the wake of an exchange of criticism from both sides in the recent days. “Turkey is a candidate country and a key partner for the European Union,” the Council of the European Union said in its enlargement resolution. Turkey’s dynamic economy provides a valuable ... Read More »