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Searched Tag: european union

The EU's suggestion that India could bypass its carbon tax by imposing a similar levy locally is unlikely to alleviate the financial burden on domestic players, as they would still owe the duty for their exports to the European Union, think tank GTRI stated on Wednesday.

EU's carbon tax proposal faces skepticism in India

July 31, 2024, 12:10 PM - 2 min read

The EU plans to enforce the CBAM, or carbon tax, starting January 1, 2026. However, beginning this October, companies in seven carbon-intensive sectors, such as steel, cement, fertilizer, aluminum, and hydrocarbon products, must report their carbon emissions data to the EU. GTRI warned that the fully implemented EU-CBAM would impose a 20-35% import tax on Indian firms. Additionally, the domestic industry would be compelled to disclose all plant and production details to the EU.

Lobbying organizations representing airlines, hotels, and retailers have called on European Union tech regulators to ensure that Google considers their perspectives, not just those of major intermediaries, when implementing changes to adhere to significant tech regulations.

Lobbyists push EU for fair Google search changes

May 26, 2024, 03:16 PM - 2 min read

The EU's Digital Markets Act (DMA) imposes a set of guidelines on Google and other tech giants to enhance user choice and foster fair competition. However, these groups fear that the proposed adjustments could adversely affect their revenues.

Europe's groundbreaking regulations on artificial intelligence (AI) will take effect next month following the endorsement by EU countries on Tuesday of a political agreement reached in December.

Europe to lead global AI regulation with landmark legislation taking effect next month

May 22, 2024, 02:28 PM - 2 min read

The European Union's AI Act stands out for its comprehensive approach compared to the United States' more lenient voluntary compliance strategy, and China's focus on maintaining social order and state control.

In a move that raises eyebrows, the European Commission has set its sights on Meta Platforms, accusing the social media titan of potentially harming children's mental health and fostering addictive behavior through its flagship platforms, Facebook and Instagram.

EU takes Meta to task: Protecting children or overreach?

May 16, 2024, 06:07 PM - 2 min read

While ensuring child safety online is undoubtedly crucial, it begs the question: Shouldn't parents and guardians play a more significant role in monitoring their children's online activities?

US, EU plans new sanctions on Iran after attack on Israel

April 17, 2024, 02:11 PM - 2 min read

The US will collaborate with partners on steps to undercut "the Iranian regime's malign and destabilising activity," Yellen said, adding that there may be "more to do" on Tehran's oil market.

In a sweeping crackdown on alleged fraud linked to the European Union's post-pandemic recovery fund, authorities have arrested 22 individuals and seized assets valued at more than €600 million ($650 million) across multiple countries.

Luxury cars, cryptocurrencies seized in EU recovery fund fraud bust

April 5, 2024, 10:08 AM - 2 min read

Following an extensive investigation spearheaded by the EU prosecutor, eight individuals were apprehended, while 14 were placed under house arrest and two were prohibited from practicing their professions.

Can the EU impose a blanket ban on TikTok?

April 2, 2024, 06:39 PM - 2 min read

TikTok started to make headlines in 2024 again because in March, the United States passed a bill for the app’s developer to divest from the Chinese company or face a complete ban. In view of this, the EU, too, has become the focal point of discussion in this regard.

The European Union has initiated investigations into Apple, Google, and Meta for potential violations of the newly enacted Digital Markets Act.

Apple, Google, Meta targeted in EU’s first digital markets act probes

March 26, 2024, 09:40 AM - 2 min read

The European Commission, responsible for enforcing antitrust regulations, announced on Monday that it will be scrutinizing Apple, Alphabet's Google, and Meta Platforms for potential breaches of the Digital Markets Act (DMA). The investigations could potentially lead to substantial fines for the companies, with penalties of up to 10% of their global annual turnover.

Russian elections have been a cakewalk for Vladimir Putin, but will the geopolitics be?

March 19, 2024, 10:02 AM - 2 min read

Vladimir Putin wins the Russian elections, but EU, the US, Germany condemn it; calling the process as restricted and neither free, nor fair. Landslide margin notwithstanding, it’s a tightrope walk for Putin from hereon.

Dragos Tudorache, a Romanian lawmaker and co-leader of the Parliament negotiations on the draft law, emphasized the significance of the AI Act in steering the future of AI toward a human-centric direction.

European Union lawmakers pass legislation to restrict AI applications

March 14, 2024, 01:34 PM - 2 min read

The AI Act operates on a "risk-based approach," originally crafted as consumer safety legislation aimed at regulating products or services utilizing Artificial Intelligence. Endorsed by a majority in the European Parliament, the legislation imposes rigorous regulations governing the deployment of AI systems. Under the new framework, high-risk AI applications, including those utilized in healthcare, transportation, and law enforcement, will undergo thorough scrutiny and must adhere to stringent transparency and accountability standards.

Tech giant Apple Inc. has faced a historic antitrust fine of over 1.8 billion euros ($1.95 billion) from the European Union on Monday, marking its first-ever penalty of this magnitude.

Apple fined record €1.8 billion by EU for app store antitrust violations

March 4, 2024, 06:17 PM - 2 min read

The European Commission's decision stemmed from a complaint filed by Swedish music streaming service Spotify in 2019, citing Apple's imposition of a 30% commission fee on App Store transactions and its restrictions on app developers regarding external payment options.

"Stable" and "very friendly" relationship with Russia, says EAM justifying procurement of Russian crude

February 20, 2024, 07:08 PM - 2 min read

Drawing a distinction between India's historical ties with Russia and Europe's current stance, Jaishankar asserted that just as India respects Europe's perspective on China, Europe should reciprocate regarding India's relationship with Russia.