European Union

EU announces average 37 percent tariff on e-bikes from China

EU announces average 37 percent tariff on e-bikes from China

In a move which underscores an effort by the European Union (EU) to clamp down on the dumping of Chinese electric bicycles (e-bikes) in Europe, new tariffs have been imposed on e-bikes imported from China.

The European Union’s implementation of new tariffs on China-produced e-bikes has come after a fairly long review period. For determining the amount of new tariffs levied on Chinese e-bike companies and the proper course of action for levying the tariffs, the European Commission visited several Chinese e-bike companies, including Bodo, Giant, Suzhou Rununion and Jinhua Vision.

EU to ban five types of Indian fruits & vegetables

mangoo BanEuropean Union (EU) on Wednesday decided to ban import of five types of fruits and vegetables from India, after a number of batches of fruits and vegetables were found to be contaminated by pests like fruit flies.

The ban, which covers mangoes, aubergines, the taro plant as well as two types of gourd, will take effect from May this year. In other words, India will not be able to sell the aforementioned fruits and vegetables in the EU member countries starting May this year.

EU to step up efforts for trade agreements with US, Ukraine

EU to step up efforts for trade agreements with US, UkraineAthens, Mar 1 - The European Union is committed to step up the ongoing process leading to the signing of two significant trade agreements with the US and Ukraine, European officials said Friday.

The Transatlantic Trade and Investment Partnership (TTIP) between the EU and the US and the Free Trade Agreement between the EU and Ukraine were key topics of the Council of Foreign Affairs on Trade's two-day informal meet being held in Athens in the context of Greece's rotating EU Presidency, Xinhua reported.

EU finance ministers still undecided over bank rescue plans

EU finance ministers still undecided over bank rescue plansThe finance ministers of the European Union nations have not been able to arrive on a an agreement for having common rules on rescuing troubled banks.

The ministers had gathered in Luxembourg but failed to agree on terms of an agreement even after 20 hours of talks on Saturday. The ministers could not agree on an important issue of how much power to be given to the national governments on the matter of helping troubled banks survive.

The ministers have agreed to meet again on Wednesday to discuss the matter further.

Eurozone unemployment rises to record 12.2% in April

Eurozone unemployment rises to record 12.2% in AprilAccording to the latest figures released, the total unemployment in the Eurozone nations rose to 12.2 per cent, which is highest level ever, in April 2013 indicating that the collective economy is still facing a slowdown and more steps are to be taken to taken to address the prolonged crisis.

European Union to ban use of neonicotinoids for two years

European Union to ban use of neonicotinoids for two yearsThe European Union has said that it is planning to impose a ban on the use of pesticides, known as neonicotinoids for a period of two years on evidence that it might be harming black-and-yellow striped bees in the region.

European leaders debating on €1 trillion budget

European leaders debating on €1 trillion budgetLeaders of the European Union countries are negotiating on a new budget for the 27-nation group, which is estimated to be worth a whopping _1 trillion, or $1.3 trillion.

European Union leaders met on Friday to reach on an agreement on the budget that will support farming, transportation, research and infrastructure in the 27 nations. However, even after 15 hours of negotiations, the leaders are yet to arrive on common ground on the budget for the union.

Nokia to develop grapheme material

Nokia to develop grapheme materialFinnish Mobile giant Nokia is planning to develop the world's strongest material called, Graphene that is believed to be even stronger than steel.

Experts say that Graphene is made of pure carbon is only one-atom thick. They said that the material has wide ranging uses in electronics, solar energy, medicines and water desalination. Henry Tirri, the Chief Executive Officer of Nokia has said that the company is working on graphene since 2006 and has found several areas of modern computing. The company says that grapheme is 300 times stronger than steel and thus can be used to make some devices much stronger.

India Negotiating With EU and Canada over Trade Agreements

India Negotiating With EU and Canada over Trade AgreementsCommerce Minister Anand Sharma has revealed that talks with European Union (EU) and Canada to structure the free-trade agreements have been proceeding.

India has been negotiating with the EU and Canada to enter their markets as its main trade partners the U. S. and a few western countries have been entrapped in the economic uncertainty, which has become a halt in the shipment of gems and jewelry. Africa, South America and the ASEAN countries have been witnessing growth.

European Union implements toughest sanctions on Iran

European Union implements toughest sanctions on IranIt is imposing its toughest sanctions against Iran in response to the country's refusal to stop enriching uranium, the European Union said on Monday.

According to the reports of The New York Times reported the sanctions include a ban on new investment in Iran's eroding oil and gas sector, as well as tighter restrictions on transport and finance.

European Union put out welcome mat for Iceland

European Union put out welcome mat for IcelandAccording to the official reports, the European Union has put out a welcome mat for Iceland to apply to join its ranks, but warned membership requires resolving its banking issues first.

The EUobserver reported on Friday that both Britain and the Netherlands demanded the wording of the invitation before the start of official discussions on Iceland joining the EU include the stipulation that it first pay for losses incurred when several of its banks failed during the financial meltdown in the fall of 2008.

Slow growth and deficits forecasted by EU

European-Union-FlagAccording to the official reports, the European Commission forecast 1 percent economic growth for its 27 member states in 2010.

The commission said in a report released on Wednesday that the labor market had shown improvement recently, but unemployment was expected to peak "at close to 10 percent in the European Union" this year.

The worry that has crowded headlines recently, public debt, would rise to 7.25 percent of the gross domestic product "before falling back slightly in 2011."

Greece is not an exception in EU with debt issues

Greece is not an exception in EU with debt issuesGreece is not alone among the European Union countries which have a problem with rising debt, recently released data has shown.

The EUobserver reported on Friday that with attention focused on Greece, the EU has said that the average deficit among its 27 members, had risen to an average of 6.8 percent of the gross domestic product, almost three times the average of 2008 when annual debt averaged 2.3 percent of the GDP.

Greece's task of reducing its debt to the target level set by the European Commission is greater than previously thought.

February Euro-Zone industrial production grows more than expected

February Euro-Zone industrial production grows more than expectedThe manufacturing sector of European countries grew in the month of February despite the snowy weather across Europe. The European Union's statistics office said today the European industrial production was reported up by
0.9% compared to January. The figures of industrial production in the month of February surprised the economists as they were expecting lower growth in the month.

Proposal to limit farm subsidies to be presented to the European Parliament

Proposal to limit farm subsidies to be presented to the European ParliamentHe would present a proposal to limit farm subsidies to the European Parliament, said European Union Agricultural Commissioner Dacian Ciolos.

The EUobserver reported on Monday that the proposal could prove divisive. Two years ago, a similar proposal was rejected by the EU member states. Last year, however, there was a vociferous public reaction when farm subsidies listed online revealed some large farms had received as much as $680,000 in subsidies annually.

More EU recognition expected for Kosovo

More EU recognition expected for KosovoIts president has said that the five European Union members that have not yet recognized Kosovo appear to be moving towards recognition.

According to the reports of the EU Observer, Greece, one of the five, recognizes Kosovar passports, Fatmir Sejdiu said during a visit to Brussels.

Kosovo declared independence from Serbia in February 2008 and was recognized almost immediately by the United States, most EU member states and China. Serbia and Russia still say Kosovo is a breakaway region, and Cyprus, Romania, Slovakia and Spain are still holdouts in the European Union.

EC to come up with “European Monetary Fund”

European Commission spokesperson, Amadeu Tardio informed that the EC is looking to come up with a "European Monetary Fund" or a similar mechanism for the European Union. The spokesperson has confirmed that the European Commission is at its initial stage to have a talk with euro-zone countries regarding the issue.

Mr. Tardio further informed that such mechanism will help the economy to rebound soon and it will undoubtedly enhance the surveillance in Europe.

Tardio has also said that the main objective of such an instrument is to provide a proactive means to tackle further economic crisis like Greece. Greece is now dealing with a severe a debt crisis.  

Privacy Concerns for Google Street View Maps

Google-Street-View-MapsThe European Union is having concerns in privacy related issues with Google. This time it is the Google Street View Maps. Google is also dealing with the same problem with its other products like Nexus One and Buzz.

The European Union has asked Google to make some changes to the way it gathers and retains data for Street View Maps. The EU has also investigated the antitrust accusations against Google earlier this week.

EU leaders up in arms against Obama’s ‘Volcker rule’

EU leaders up in arms against Obama’s ‘Volcker rule’Leader across the Atlantic are planning to throw a spanner in President Obama's work. European Union finance are oppose to President Barack Obama's proposal to limit banks' size and proprietary trading, saying his plan run counterintuitive to EU policy, says a draft document.

Facing the backlash of American taxpayers over 'the socialization of losses' incurred by Wall Street, Obama last month urged the adoption of the 'Volcker rule'.

EU needs grand social pact to emerge from recession: Spain

Strasbourg (France), Jan 21 - The European Union needs a "grand social pact" between business and labour to ensure recovery from the recession, Spanish Prime Minister Jose Luis Rodriguez Zapatero has said in a speech to the European Parliament here.

Zapatero travelled to Strasbourg to outline Wednesday his agenda for Spain's six month term in the EU presidency, which began Jan 1.

The programme was largely embraced by centrists and socialists in the parliament, while conservative members expressed doubts.

One of the sceptics questioned Madrid's fitness to chart EU economic strategy when Spain is suffering from nearly 20 percent unemployment.

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