Europe Business & Economics
Eurozone inflation lower than expected
Trump says Commerce Secretary Ross to speak with EU on tariffs
Trump threatens to impose tax on European cars if EU retaliates against US tariffs
EU, Japan seek clarity from crunch US trade talks
Japan and E.U. spar with U.S. in Brussels over trade and tariffs
EU says finance sector ready for disorderly Brexit
European Central Bank: Trump tariff move 'dangerous'
EU says US steel tariffs are 'distorting' global trade flows, hurting economic growth
2018-04-19 05:05:27 Boeing shares fell as low as 6 percent after news China is targeting U.S. planes in tariff plans, but its unclear whether its planes will be affected. Jacob Greaves reports. Video provided by Reuters Newslook. BRUSSELS — Europe's top trade official said Wednesday that new U.S. steel and aluminum tariffs are distorting global trade and could damage hopes for economic growth   Read More ...
EU and Britain to start trade talks after Brexit
2018-04-16 00:00:41 Britain and the European Union will start talks this week on their future trade relationship after Brexit. As Ciara Lee reports, with no substantial progress on the Irish border conundrum, negotiations could be challenging. Video provided by Reuters.   Read More ...
Facebook CEO Mark Zuckerberg faces another request to testify — in Europe
2018-04-12 20:46:32 Facebook chief executive Mark Zuckerberg barely left his grilling in Congress before another group of lawmakers is asking him to testify — this time, in Europe. Antonio Tajani, president of the European Parliament, is set to send a letter to Zuckerberg on Monday insisting that the Facebook co-founder come to testify, a spokesman for Tajani said Thursday, amid heightened concern about Facebook's privacy practices   Read More ...
Winners All Around in Europe’s Corporate Bond Market: Gadfly
2018-04-12 12:57:05 Europe is awash in corporate bond mandates and syndicated deals from sovereigns, blotting away memories of the tricky time the market had in March. This could wind up being one of the biggest weeks of the year. And the outlook is good -- there’s still some way to go before indigestion strikes. Conditions are nearly ideal as there has been little regular auction supply in European government bond markets this week -- the mere 14 billion euros ($17   Read More ...
EU Parliament Committee on Intl. Trade urges Sri Lanka to continue reforms
2018-04-06 00:04:50 Members of the European Parliament Committee on International Trade says that the Sri Lankan Government needs to keep the country on the path to reform. Members said the opportunity to address the remaining issues should not be missed, and highlighted the need to make further progress in implementing the international human rights conventions relevant to GSP+ and further improve labour conditions   Read More ...
Global Economy Week Ahead: Eurozone Inflation, U.S. Jobs, Australia Rate Decision
2018-04-02 13:02:17 April 1, 2018 3:00 p.m. ET This week features inflation and unemployment figures in Europe, the March U.S. jobs report, and an interest-rate decision by Australia’s central bank. TUESDAY: The Reserve Bank of Australia releases a policy statement and is widely expected to keep rates steady, which would mark the 20th consecutive month without a change. The inflation   Read More ...
ECB’s German Skew Raises Questions Over Draghi’s Successor
2018-03-20 12:00:13 Updated March 20, 2018 5:54 a.m. ET FRANKFURT—Germany’s outsize influence at the European Central Bank is raising concerns among some eurozone officials and banking executives ahead of a decision over whether to name a German to lead the institution for the first time. The ECB, based here in Germany’s financial capital, has more German nationals on its staff than French, Italians and Spanish combined, according to new data that could heighten concerns over German dominance of the European Union’s most important institutions   Read More ...
EU Aims to Persuade Trump the U.S. Already Has a Good Trade Deal
2018-03-20 12:00:10 The European Union’s top trade official arrives in Washington on Tuesday with a daunting task: convince the Trump administration that, contrary to White House claims, the bloc’s economic relationship with the U.S. is fair.   Read More ...
Ozo Group named 'National Winner' in European Business Awards
2018-03-20 10:00:21 Ozo Group has been named ‘National Winner’ in the 2017-18 European Business Awards, Europe’s largest business competition, sponsored by RSM. Ozo Group was chosen from 2,898 businesses previously identified as ‘Ones to Watch’ in a list of business excellence published in December and selected as a National Winner by a panel of independent judges including senior business leaders, politicians and academics as the best business in Malta in the Awards’ category ‘ The Elite Award For Growth Strategy’   Read More ...
Sterling soars as UK and EU reach Brexit transition deal
2018-03-20 03:48:47 Britain and the EU agreed the terms for a transition period after Brexit yesterday, sending the pound soaring to a three-week high against the dollar. Sterling rose as much as 1 per cent to $1.4088 yesterday, its highest intraday-rise in over five weeks, after Brexit secretary David Davis and chief EU negotiator Michel Barnier hailed a “decisive step” forward in the talks   Read More ...
European Union releases 10-page list of potential targets for retaliatory tariffs on U.S. products
2018-03-16 22:46:54 The European Union on Friday made public of American products that are potential targets for retaliation if President Trump refuses to exempt the allied bloc from his new tariffs on steel and aluminum imports. The list offered the most detailed glimpse to date of the likely targets for E.U. action, including products selected for maximum political impact in the United States   Read More ...
Eurozone inflation lower than expected
2018-03-16 19:47:31 The currency area's economy had its best year in a decade during 2017, while the jobless rate has fallen to its lowest level since late 2008. European Central Bank President Mario Draghi says he sees no reason to change current policy: "We currently see inflation converging towards our aim over the medium term, and we are now more confident than in the past this convergence will come to pass   Read More ...
Startups in Poland Tackle Global Issues
2018-03-16 19:47:14 The education technology startup was launched in Poland in 2009, as a digital community where middle schoolers and high schoolers could assist each other with homework. Today, Brainly has more than 100 million monthly users in over 35 countries, and is arguably an international success story. It is also an indicator of how Poland’s innovative startups and entrepreneurs are competing in the global market, and ultimately reaching new heights   Read More ...
Malta braces itself for MEPs’ vote on common corporate tax
2018-03-13 10:00:33 It’s a battle as old as the common market, but certainly not as dead as its federalist founders: a common corporate system for EU member states, an idea profoundly detested by Malta. Members of the European Parliament on 14 March are voting on two reports proposing a common corporate tax base (CCTB) and a common consolidated corporate tax base (CCCTB). Together they form a single set of rules for corporate tax: the first a common corporate tax, the second allowing multinationals to offset losses in one member states against profits in another to reach a taxable net profit   Read More ...
Russia ramps up fuel exports in fight for European market
2018-03-13 06:42:34 UST-LUGA/PRIMORSK, Russia (Reuters) - Russia plans to sharply increase fuel exports and carve out a larger share of the European market following an extensive $55 billion modernization of its refineries, companies’ plans and analysts’ reports show. Russia embarked on a modernization of its biggest refineries in 2011 following a fuel shortage crisis. It also changed its tax system to favor production of cleaner and higher-quality fuel   Read More ...
EU slams trade 'bullies' as Trump tariffs row deepens
2018-03-12 18:33:11 The EU Monday said Europe would not waver against trade "bullies" as a row with U.S. President Donald Trump over controversial steel and aluminium tariffs deepened.The jab from Brussels came after the U.S. tycoon singled out Europe in the surging trade dispute, threatening to tax German cars if the European Union doesn't lower barriers to U.S. products.In revealing those measures, European Commission head Jean-Claude Juncker taunted Trump, saying the EU could match "stupid with stupid"   Read More ...
EU wants capital market plan in place before Brexit
2018-03-12 18:20:34 LONDON: The European Union stepped up efforts on Monday to create a more unified and cheaper capital market by next year when it faces the loss of Britain, the bloc’s biggest financial centre. The EU’s executive European Commission set out its latest plans for a “capital markets union” (CMU), a project initially focused on reducing heavy reliance of company funding on bank loans, but now made more pressing by Brexit   Read More ...
The EU could match ‘stupid with stupid’, says Juncker
2018-03-12 18:19:45 Brussels: The EU said Europe would not waver against trade “bullies” as a row with US President Donald Trump over controversial steel and aluminium tariffs deepened. The jab from Brussels came after the US tycoon singled out Europe in the surging trade row, threatening to tax German cars if the European Union doesn’t lower barriers to US products. Trump’s threat was part of a dispute sparked by his announcement of tariffs on steel and aluminium imports, although the ‘America First’ Trump administration has said it will consider exceptions and has already spared Mexico and Canada   Read More ...
Egypt picks 4 european banks to manage international bond sale
2018-03-12 18:19:28 Cairo: Egypt selected four European banks to manage its first euro-denominated bond sale, taking advantage of lower borrowing costs in Europe as it looks to secure funding to plug the budget deficit. The government picked BNP Paribas, Deutsche Bank, Standard Chartered and Intesa Sanpaolo for the issuance worth between 1 billion and 1.5 billion euros (Dh4.5 billion to Dh6.8 billion) that’s slated to be held before the start of the fiscal year that begins July 1, Khaled Abd Al Rahman, assistant finance minister for capital market operations, said by phone   Read More ...
Brexit: No-trade deal with EU to cost businesses £58bn a year, research finds
2018-03-12 15:36:30 A no-deal Brexit would cost companies in the UK and the EU £58bn a year, with Britain’s financial services sector taking the biggest hit, according to new research. The additional direct “red-tape cost” of tariff and non-tariff barriers would be £27bn to UK firms and £31bn to their EU counterparts, a report from consultancy Oliver Wyman and law firm Clifford Chance estimates   Read More ...
Entrepreneurs to EU: Europe is in danger of blowing its startup moment
2018-03-12 15:30:17 No one would argue that the startup scene around Europe has changed profoundly over the past several years. The level of enthusiasm, the number of startups, the amount of money governments are pumping into innovation, they all indicate that the continent has shaken off its lethargy and wants desperately to step into the entrepreneurial spotlight. But it may not be enough   Read More ...
Trump says Commerce Secretary Ross to speak with EU on tariffs
2018-03-12 14:01:37 WASHINGTON: U.S. Commerce Secretary Wilbur Ross will speak with European Union representatives about lowering tariffs against the United States, President Donald Trump said on Monday. "Secretary of Commerce Wilbur Ross will be speaking with representatives of the European Union about eliminating the large Tariffs and Barriers they use against the U.S.A. Not fair to our farmers and manufacturers," Trump said in a Twitter post   Read More ...
Pas de trêve dans le commerce des armes par les pays Européens
2018-03-12 13:01:32 Les pays voisins de la Russie se tournent vers les autres pays d'Europe pour s'armer et les exportateurs européens d'armes ne sont pas trop regardants concernant la Turquie quand il s'agit de vendre des armes : deux éléments de rupture sur le marché des armes en Europe selon le Sipri.   Read More ...
EU 'will stand up to trade bullies'
2018-03-12 12:34:30 The EU's trade commissioner has said the bloc "will stand up to the bullies" over protectionism as tensions continue over US tariffs on imported steel and aluminium imposed by President Trump. Cecilia Malmström was speaking at a conference in Brussels, following discussions at the weekend with US Trade Representative Robert Lighthizer. Those talks are to resume this week. Ms Malmström said protectionism was being "used as a weapon to threaten and intimidate us"   Read More ...
Brexit without a trade deal would cost UK and EU firms $80 billion a year, study says
2018-03-12 12:18:09 Britain and the European Union (EU) would face a combined annual bill of around £58 billion ($80.4 billion) if Brexit talks were to collapse without a new trade agreement in place, according to a new study. The report, published Sunday by consultancy firm Oliver Wyman and law firm Clifford Chance, said the cost of a so-called "no deal" scenario would total around £31 billion for EU exporters and around £27 billion for U   Read More ...
Donald Trump threatens to impose tax on European cars
2018-03-11 13:13:44 U.S. President Donald Trump has threatened to impose a hefty import duty on European cars if the European Union retaliates against his steep tariffs on aluminum and steel. Earlier this week, Mr. Trump officially announced tariffs of 25% on steel and 10% on aluminum, despite major opposition from his own party, triggering a possible trade war with China and Europe. The EU threatened an “arsenal” of retaliatory measures when the tariffs were first proposed, including imposing import tariffs on products made in red districts   Read More ...
IREDA signs €150 mn pact with Europe’s EIB
2018-03-11 11:13:17 The European Investment Bank (EIB) on Saturday signed a €150 million loan agreement with the Indian Renewable Energy Development Agency (IREDA) to support renewable energy investments in India. “India is the world’s third largest electricity consumer,” European Investment Bank president Werner Hoyer said. “The strengthened partnership between IREDA and EIB reflects the joint commitment of India and the EU to implement the Paris climate agreement   Read More ...
Trump threatens to impose tax on European cars if EU retaliates against US tariffs
2018-03-11 09:07:39 US President Donald Trump has threatened to impose a hefty import duty on European cars if the European Union retaliates against his steep tariffs on aluminium and steel. Earlier this week, Trump officially announced tariffs of 25 per cent on steel and 10 per cent on aluminium, despite major opposition from his own party, triggering a possible trade war with China and Europe   Read More ...
EU, Japan seek clarity from crunch US trade talks
2018-03-10 21:30:59 BRUSSELS (AFP) - The EU and Japan held crunch talks with their US counterparts in Brussels on Saturday hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs. Trump's announcement of duties of 25 percent on imported steel and 10 percent on aluminium has stung the European Union and triggered warnings of an all-out international trade war   Read More ...
Japan and E.U. spar with U.S. in Brussels over trade and tariffs
2018-03-10 19:00:59 BRUSSELS — U.S. Trade Representative Robert E. Lighthizer met Saturday with his E.U. and Japanese counterparts, but the meeting offered little new clarity amid fears of a global trade war. The talks came days after President Trump announced new tariffs on U.S. imports of aluminum and steel. The meeting, which was planned before Trump’s Thursday trade announcement, was Europe and Japan’s first chance to press their case for an exemption to the tariffs of 25 percent on steel and 10 percent on aluminum   Read More ...
EU, Japan start push for exemptions from Trump tariffs
2018-03-10 18:30:29 BRUSSELS: The European Union and Japan urged the United States on Saturday to grant them exemptions from metal import tariffs, with Tokyo calling for "calm-headed behavior" in a dispute that threatens to spiral into a trade war. U.S. President Donald Trump set import tariffs on Thursday of 25 percent on steel and 10 percent on aluminum, to come into force in 15 days   Read More ...
EU, Japan seek clarity from crunch US trade talks
2018-03-10 18:09:57 Brussels: The EU and Japan held crunch talks with their US counterparts in Brussels on Saturday hoping to get “clarity” on President Donald Trump’s controversial new steel and aluminium tariffs. Trump’s announcement of duties of 25 per cent on imported steel and 10 per cent on aluminium has stung the European Union and triggered warnings of an all-out international trade war   Read More ...
EU hopes for clarity from crunch US trade talks
2018-03-10 17:02:23 BRUSSELS (AFP) - Top EU trade officials will hold crunch talks with their US counterparts in Brussels on Saturday hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs. Trump's announcement of duties of 25 percent on imported steel and 10 percent on aluminium has stung the European Union and triggered warnings of an all-out international trade war   Read More ...
EU, Japan seek clarity from crisis US trade talks
2018-03-10 15:31:11 The EU and Japan held crunch talks with their US counterparts in Brussels Saturday, hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs.Trump's announcement of duties of 25 percent on imported steel and 10 percent on aluminium has stung the European Union, along with other major partners and triggered warnings of an all-out international trade war   Read More ...
European bank, IREDA in €150 mn loan pact
2018-03-10 15:15:10 The European Investment Bank (EIB) on Saturday signed a €150 million loan agreement with the Indian Renewable Energy Development Agency (IREDA) to support renewable energy investments in India. “India is the world’s third largest electricity consumer,” European Investment Bank president Werner Hoyer said. “The strengthened partnership between IREDA and EIB reflects the joint commitment of India and the EU to implement the Paris climate agreement   Read More ...
Trump's steel tariffs are wrong and EU should be excluded from them, trade chief says
2018-03-10 12:39:14 President Donald Trump's approach to steel overcapacity is wrong, the European Union's (EU) trade chief said Friday, hoping to get confirmation from the U.S. that the bloc will be excluded from the new tariffs. Trump fueled concerns of a potential trade war on Thursday, when signingtwo proclamations that will lead to tariffs on imported steel and aluminum. Canada and Mexico are exempt from the tariffs   Read More ...
US, EU, Japan trade chiefs to meet over steel tariffs
2018-03-10 11:52:15 The trade chiefs of the European Union and Japan are holding talks about U.S. President Donald Trump’s plans to impose tariffs on steel and aluminium amid fears they could trigger a broader trade war. EU Trade Commissioner Cecilia Malmstroem is meeting Saturday in Brussels with Japanese Economy, Trade and Industry Minister Hiroshige Seko. U.S. trade representative Robert Lighthizer is expected to join the two for broader talks later Saturday   Read More ...
EU hopes for clarity from crunch US trade talks
2018-03-10 10:32:18 BELGIUM - Top EU trade officials will hold crunch talks with their US counterparts in Brussels on Saturday hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs. Trump's announcement of duties of 25% on imported steel and 10% on aluminium has stung the European Union and triggered warnings of an all-out international trade war. Brussels has prepared a list of US products to hit with countermeasures if its exports are affected by the tariffs, but says it hopes to join Canada and Mexico in being exempted   Read More ...
EU hopes for clarity from crunch US trade talks
2018-03-10 08:45:18 BRUSSELS (AFP) - Top EU trade officials will hold crunch talks with their US counterparts in Brussels on Saturday (March 10) hoping to get "clarity" on President Donald Trump's controversial new steel and aluminium tariffs. Trump's announcement of duties of 25 per cent on imported steel and 10 per cent on aluminium has stung the European Union and triggered warnings of an all-out international trade war   Read More ...
Tough EU energy efficiency targets are business opportunity, report concludes
2018-03-09 20:01:38 Businesses have to invest between €30 million and €64 million to meet the 2020 renewable and energy efficiency targets, a report out today has concluded. The report was compiled by the Malta Business Bureau and released on Friday during a seminar on the EU’s energy targets organised by the Malta Chamber of Commerce, Enterprise and Industry. The costs indicated in the report reflect only the business relevant cost of meeting the 2020 targets   Read More ...