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Apr 26, 2024 اردو ► PRINT EDITION ► BR MARKETS ► Dollar to PKR ►

European Commission

European stocks up
Markets

European stocks up

AMSTERDAM/LONDON: European stocks ended higher on Monday after the European Commission outlined plans to loosen...
Published 04 May, 2021 04:26am
EU cuts 2021/22 soft wheat crop forecast to 124.8mn tonnes
Markets

EU cuts 2021/22 soft wheat crop forecast to 124.8mn tonnes

  • That would still be above 2020/21 production of common wheat, or soft wheat, of 117.2 million tonnes, the Commission's monthly supply and demand data showed.
  • The Commission also lowered its projection of soft wheat stocks at the end of 2021/22, to 11.4 million tonnes from 12.9 million last month, reflecting the reduced harvest forecast.
Published 29 Apr, 2021 06:24pm
EU sues AstraZeneca over delayed deliveries of COVID-19 vaccine
World

EU sues AstraZeneca over delayed deliveries of COVID-19 vaccine

  • AstraZeneca said in response that the legal action by the EU was without merit and pledged to defend itself strongly in court.
  • "The Commission has started last Friday a legal action against AstraZeneca," the EU spokesman told a news conference, noting all 27 EU states backed the move.
Published 26 Apr, 2021 05:42pm
EU seals world's largest vaccine supply deal with Pfizer
Business & Finance

EU seals world's largest vaccine supply deal with Pfizer

  • The vaccines from the US drug maker and its German partner BioNTech will be delivered over the period 2021-2023, Commission President Ursula von der Leyen said at a briefing.
  • The agreement would be enough to inoculate the 450 million EU population for two years and comes as the bloc seeks to shore up long-term supplies.
Published 23 Apr, 2021 05:55pm
EU Commission urges Ireland to rethink hotel quarantine
World

EU Commission urges Ireland to rethink hotel quarantine

  • The EU executive wrote to the Irish government on Friday in relation to the criteria used to determine the list, a spokesman said.
  • "The Commission has concerns regarding this measure in relation to the general principles of EU law, in particular proportionality and non-discrimination," the spokesman said.
Published 16 Apr, 2021 05:15pm
EU wants to ban use of AI for surveillance
World

EU wants to ban use of AI for surveillance

  • "The use of artificial intelligence for the purposes of indiscriminate surveillance of natural persons should be prohibited when applied in a generalised manner to all persons without differentiation," the document said.
  • The EU also wants to ban social scoring amid criticism that some companies misuse the technology for hiring, giving out loans and other major decisions which can favour privileged groups.
Published 14 Apr, 2021 08:43pm
Greece secures EU okay to extend 'Hercules' bad loan scheme
Business & Finance

Greece secures EU okay to extend 'Hercules' bad loan scheme

  • The scheme was launched in October 2019 to help the country's banks offload up to 30 billion euros of bad loans by turning bundles of impaired credit into asset-backed securities that can be sold to investors.
  • Deputy Finance Minister George Zavvos said that with Hercules-2 the government is determined to see a further reduction of bad loans to enable banks to fund the economy, businesses and households.
Published 09 Apr, 2021 07:16pm
Air Canada and Transat terminate planned deal after EU advises against it
Business & Finance

Air Canada and Transat terminate planned deal after EU advises against it

  • Air Canada said that following the recent discussions with the European Commission (EC), it has become evident, however, that the EC will not approve the acquisition based on the offered remedy package.
  • Air Canada in February refused to extend the deadline for its C$188.7 million ($150.19 million) deal for Transat, after European regulators failed to give the go-ahead for the buyout.
Published 02 Apr, 2021 09:44pm