Page 2 - Europe Economy

Europe maintains steady investor demand amid US-driven ESG backlash

European investors have seven times as much capital in sustainable fund assets than US investors, following five consecutive quarters of US outflows, based on Morningstar data

Europe is the saving grace for declining Indian exports in 2023

This was driven by demand for products such as pharmaceuticals, textiles, petroleum products, engineering products, machinery, as well as chemicals, government data showed

Gaining momentum: Petro product exports fire up after fall in January

In Feb, country regains market share in diesel shipments, India's most-valued export to Europe, putting a check on US expansion

European inflation eases to 2.6% on falling energy prices, food inflation

The inflation that has ravaged the European economy eased again in February, falling to 2.6 per cent as high interest rates, moderating oil and gas prices, and sluggish growth held back price increases in stores. February's figure for the 20 countries that use the euro currency compares to 2.8 per cent from January, the European Union's statistical agency Eurostat said Friday. Inflation is now far below its peak of 10.6 per cent in October 2022, which it hit after Russia cut off most supplies of natural gas and sent energy prices through the roof. But the return of inflation to 2 per cent, the goal set by the European Central Bank, is taking time. Food inflation eased to 4 per cent from 5.6 per cent, offering some relief to people on modest incomes who spend more of their pay on necessities than the well-off. Another factor was energy prices, which fell by 3.7 per cent. One key sign that inflation is losing steam was so-called core inflation, which excludes swings in food and fuel

TikTok ramps up fight against fake news, covert influence ahead of EU polls

The company worked with news checkers to produce educational videos about the electoral process and misinformation via the election centres during national elections in previous years

India-Middle East-Europe corridor game changer for us, says FM Sitharaman

The Union Minister also underscored the success of India's G20 presidency and said that during the tough times engulfed by the COVID-19 pandemic, India navigated its way and addressed global problems

Europe moves into new world after crippling energy crisis of past

Still, having scraped through the crisis, Europe has emerged into a new reality that has its own list of challenges

Iran-backed Houthis launch 2 anti-ship ballistic missiles at US Ship

Iranian-backed Houthis on Thursday (US local time) launched two anti-ship ballistic missiles at US Ship Chem Ranger, US Central Command said

Despite pressure, we are largest economy of Europe: President Putin

Russian President Vladimir Putin has said that the country has become Europe's first economy and stands at number fifth in the world in terms of purchasing power parity

UK economy grew more than expected in Nov but still risks recession

Britain's economy struggled to gain momentum in 2023, as households were squeezed by rapid inflation and the highest Bank of England (BoE) interest rates in 15 years

Barclays raises target on Europe's STOXX 600 to 510 from 485: Report

The new target represents a roughly 7 per cent upside from current levels

UK-India to build stronger ties during minister's visit to TN, Gujarat

TN and Gujarat are leading the way in the development of emerging technologies, the British minister said

EFTA: Trade deficit, Swiss blanket removal of import duties to hurt India

Large trade deficit with Switzerland and its decision to remove import duties on almost all industrial goods for all countries starting January 1 would limit gains for India under the proposed trade agreement with EFTA bloc, a report said on Monday. The report by economic think tank GTRI said the trade agreement in the current format will not help Indian exports and will result in higher imports and wider trade deficit. India and the European Free Trade Association (EFTA) are negotiating a free trade agreement, officially dubbed as Trade and Economic Partnership Agreement (TEPA) with a view to boosting economic ties. FTA (free trade agreement) negotiations were initiated in January 2008. EFTA members are Iceland, Liechtenstein, Norway, and Switzerland. "The Indian side faces challenges in achieving a balanced outcome in the agreement with EFTA. There are concerns due to the large trade deficit in favour of EFTA, Switzerland's new policy of allowing tariff-free entry for all indust

Carrefour says it will not sell PepsiCo products due to price hikes

Carrefour is telling customers it will no longer sell PepsiCo products like Pepsi, Lay's crisps and 7up because they had become too costly

Lupin to acquire products in Europe, Canada from Sanofi for Rs 91 cr

Home-grown pharma major Lupin Ltd on Friday said it acquired a portfolio of established products in Europe and Canada from Sanofi for a purchase consideration of EUR 10 million (Rs 91 crore). Lupin Atlantis Holdings SA, Switzerland, a wholly-owned subsidiary of the company, has signed an asset purchase agreement with Sanofi, a French multinational pharmaceutical and healthcare company, for the purpose, Lupin said in a regulatory filing. The purchase consideration is EUR 10 million (Rs 91 crore) plus sales milestones up to EUR 8 million (Rs 72.8 crore), contingent upon future sales, it added. Under the agreement, Lupin will acquire brands AARANE in Germany and NALCROM in Canada and the Netherlands. The turnover of the said brands in these markets for the year ended March 31, 2023 was about USD 6.494 million (Rs 53.7 crore), the company said. "The proposed transaction is of strategic interest by bringing accretive assets in the respiratory field to help structure the company's new ..

European Central Bank holds rates as inflation cools but hastens bond exit

The deposit rate was left at a record 4% with the ECB reiterating that this level will make a "substantial contribution" to returning consumer-price growth to its 2% goal

Das' final frontier: To bring down inflation to 4% before his term ends

During his five-year tenure, the banking sector has become resilient, improving profitability and maintaining healthy capital

Economy has lost momentum: European Commission lowers growth outlook

The European Union's executive commission lowered its growth forecast for this year and next, saying the economy has lost momentum in 2023 as inflation weighs on consumer spending and higher central bank interest rates deter borrowing for purchases and investment. The outlook for this year was lowered to 0.6% from 0.8% for the 20 countries that use the euro currency, and to 1.2% from 1.3% for next year, the commission said Wednesday in its autumn economic forecast, which revised figures from its previous forecast in September. Even that modest growth outlook is exposed to risk from Russia's ongoing war against Ukraine and the Israel-Hamas war in Gaza. So far, the conflict has not interfered with oil supplies from Mideast producers such as Saudi Arabia and the United Arab Emirates, but there is a risk of disruptions to energy supplies that could potentially have a significant impact on prices and global growth. While growth remains weak, unemployment remains near record lows and grow

European air fares 'rising way above inflation', says ACI Europe

This rising trend continued into October, ACI said, adding fares were up 47% when booked three months in advance

Germany set to double Ukraine military aid under Scholz plan: Report

A spokesperson for Germany's Ministry of Defence said the Bundestag committee has not finished negotiations and declined to comment further