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European Commission

IMF hikes Italian growth forecast, urges tax reform

IMF hikes Italian growth forecast, urges tax reform

  • The IMF said its new projection, made in a report following an annual visit to Italy, was dependent on COVID-19 vaccinations being well advanced by late summer and continued economic support measures.
  • The Fund gave no clear explanation for the sharp upward revision of its forecast, which it warned was surrounded by "considerable uncertainty".
Published 30 Mar, 2021 08:56pm
EU presidents to go to Turkey next week, spokesman says
World

EU presidents to go to Turkey next week, spokesman says

  • Turkey, an EU candidate country, last held a formal summit with the two EU chiefs in March 2020, when Erdogan met Michel and von der Leyen in Ankara.
  • Both sides also aim to agree billions of euros in fresh EU support for Syrian refugees in Turkey.
Published 29 Mar, 2021 06:28pm
Sterling steadies
Business & Finance

Sterling steadies

LONDON: Sterling steadied against the dollar and euro on Thursday after two consecutive days of losses prompted by...
Updated 26 Mar, 2021 09:25am
EU forecasts higher wheat crop, exports in 2021/22
Markets

EU forecasts higher wheat crop, exports in 2021/22

  • In grain supply and demand data, the Commission also projected that EU exports of common wheat, or soft wheat, would reach 30.0 million tonnes next season compared with 27.0 million expected in the current 2020/21 season that ends on June 30.
Published 25 Mar, 2021 06:31pm
Greece, Cyprus want 'credible implementation' of EU dual-track approach to Turkey
World

Greece, Cyprus want 'credible implementation' of EU dual-track approach to Turkey

  • EU leaders are set at a summit this week to spell out its proposed offer of closer economic links, mixed with threats if Ankara moves against the bloc's interests, according to a draft statement seen by Reuters.
  • We agreed with the (Cypriot) President that at tomorrow 's European Council our two countries, as well as the union as a whole, must insist on the credible implementation of the dual track approach.
Published 24 Mar, 2021 06:55pm
Pfizer to delivery 200mn vaccine doses to EU in second quarter
Business & Finance

Pfizer to delivery 200mn vaccine doses to EU in second quarter

  • The EU is aiming to vaccinate at least 255 million people, or 70% of its adult population, by the end of the summer but has faced criticism for the slow rollout of its inoculation drive.
  • The expected Pfizer second-quarter deliveries will include 10 million doses originally due in the third and fourth quarters of this year, the Commission said.
Updated 16 Mar, 2021 10:03pm
EU may take legal action against Hungary over opposition radio licence
World

EU may take legal action against Hungary over opposition radio licence

  • Klubradio, which has broadcast for 19 years, was forced off the air last month after it lost an appeal against the removal of its licence. It has been broadcasting on the internet since mid-February.
  • The EU has long been concerned over what it sees as an erosion of democratic standards under Hungary's Prime Minister Viktor Orban. His nationalist government rejects such criticism.
Published 12 Mar, 2021 08:44pm
Europe to get 4mn more Pfizer/BioNTech COVID-19 shots this month
World

Europe to get 4mn more Pfizer/BioNTech COVID-19 shots this month

  • The doses to vaccinate two million people will be supplied in addition to the planned deliveries, to ease border movement and to tackle virus hotspots, the Commission said.
  • "To tackle aggressive variants of the virus and to improve the situation in hotspots, quick and decisive action is necessary," the president of the Commission, Ursula von der Leyen, said.
Updated 10 Mar, 2021 07:24pm
‘We never sulk, we don't have moods’, Brussels tells London
World

‘We never sulk, we don't have moods’, Brussels tells London

  • David Frost wrote in British newspaper the Sunday Telegraph that the European Union should shake off its ill-will and build a good relationship with Britain as sovereign equals.
  • We never sulk, we don't have moods. We are an institution so we try to work on a day-to-day basis with a very, very even temper.
Published 08 Mar, 2021 07:12pm
Australia asks EU to review block of AstraZeneca vaccine
World

Australia asks EU to review block of AstraZeneca vaccine

  • Italy, EU blocked shipment of AstraZeneca shots to Australia.
  • Move meant to sanction AstraZeneca for delays in EU supplies.
  • Millions of EU-made vaccines exported to dozens of countries.
  • Australia sees no impact on its rollout.
Published 05 Mar, 2021 06:35pm
Britain told EU about post-Brexit trade move earlier this week: PM's spokesman
World

Britain told EU about post-Brexit trade move earlier this week: PM's spokesman

  • We notified the European Commission at official level earlier this week, we also informed the Irish government earlier this week, and then Lord Frost last night in his call with Sefcovic obviously discussed this at length and set out the rationale and reasons for it.
  • These types of operational measures are well precedented and common in other international trade agreements and are entirely consistent with our intention to fulfill our obligations under the protocol in good faith.
Published 04 Mar, 2021 07:09pm
EU says no talks under way to buy Russia's COVID-19 vaccine
World

EU says no talks under way to buy Russia's COVID-19 vaccine

  • "Currently no talks are ongoing to integrate the Sputnik vaccine in the portfolio," a Commission spokesman told a news conference.
  • Earlier on Thursday, the European Medicines Agency (EMA) said it had begun a rolling review of the Sputnik V vaccine, which could lead to its approval for use in all 27 EU countries.
Published 04 Mar, 2021 06:15pm
EU to extend COVID vaccine export controls to end of June
World

EU to extend COVID vaccine export controls to end of June

  • The mechanism was set up at the end of January as a reaction to vaccine makers' announcements of delays in the deliveries of COVID-19 vaccines to the EU.
  • It is due to expire at the end of March, but the European Commission wants to extend it through June, the two officials said.=
Published 04 Mar, 2021 06:05pm
EU to propose vaccine certificates in time for summer holidays
World

EU to propose vaccine certificates in time for summer holidays

  • The EU executive aims to present its plans for a "digital green pass" on March 17 and to cooperate with international organisations to ensure that its system also works beyond the European Union.
  • The aim is to gradually enable them to move safely in the European Union or abroad - for work or tourism.
Published 01 Mar, 2021 08:05pm
EU raises 2020/21 wheat export forecast, cuts maize imports
Markets

EU raises 2020/21 wheat export forecast, cuts maize imports

  • That remained well below the 36.9 million tonnes estimated for 2019/20, reflecting a sharp drop in harvest supply this season, the Commission's grain supply and demand data showed.
  • That would be below estimated common wheat stocks of 9.8 million tonnes at the end of last season.
Published 25 Feb, 2021 09:09pm
EU Commission proposes lower wholesale roaming price caps
World

EU Commission proposes lower wholesale roaming price caps

  • Wholesale price caps have pitted telecoms providers in southern European countries with those in northern Europe over who should benefit from tourists making calls home.
  • The EU executive said it wants wholesale caps to be reduced from July 1 next year and a second cut effective from Jan. 1, 2025. The caps were substantially reduced in 2017.
Published 24 Feb, 2021 08:18pm
EU bets on data to prepare for climate change impacts
World

EU bets on data to prepare for climate change impacts

  • As European Union countries attempt to eliminate their net greenhouse gas emissions by 2050, they will still face decades of climate-related impacts, locked in from previous years' emissions.
  • If we step up work on adaptation today, we can make the EU and the planet much better prepared for the unavoidable changes we will face tomorrow.
Published 24 Feb, 2021 07:08pm