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News stories about "Europe" in India.

Posted on: 15 Apr, 08:35 PM

PM Modi's answer to China's Belt and Road is all set for its first discussion

The proposed infrastructure link that would connect India to Europe via the Middle East to counter a similar Chinese initiative. The concept, known as IMEC, aims to create a network of railroads, ships, gas pipelines and internet cables. Key Points

Europe is truly a priority for India: S Jaishankar

India and Europe have a deep and continuous relationship, with the Prime Minister of India and heads of European governments having frequent engagements. Technology, mobility agreements, free trade agreements, and new logistical pathways are key factors in the India-Europe relationship. Key Points

Scope for more collaboration with Europe: Ports, Shipping and Waterways Secretary

India's maritime sector has significant growth potential, and there's room for increased collaboration with Europe, said TK Ramachandran, Secretary of the Ministry of Ports, Shipping, and Waterways. Speaking at the 2nd CII India Europe Business and Sustainability Conclave, he highlighted the India-Middle-East-Europe Connectivity Corridor's potential and opportunities for collaboration in shipbuilding and green ports. Key Points

India stands firm on buying Russian oil amidst sanctions; EAM Jaishankar says Moscow has never hurt New De

India's External Affairs Minister S Jaishankar reaffirmed India's stance on buying Russian oil. During his visit to Germany for the Munich Security Conference, he stated that Europe should understand that India cannot have a view of Russia that is identical to the European one. Key Points

India on track to export record-low diesel to Europe in Jan as Red Sea risks weigh

India's low-sulphur diesel exports to Europe are set to hit a two-year low in January due to increased freight costs caused by Red Sea security risks. The decline in volumes is around 80% month-on-month. Meanwhile, India-origin exports of aviation fuel to Europe remain steady with an open arbitrage window and stable demand. Key Points

War, weather put ocean shippers on notice for rough seas in 2024

This is seemingly the new normal - these waves of chaos that seem to rise and fall. Before you get back to some level of normalcy another event happens that sort of throws things out of whack, said Jay Foreman, CEO of Florida-based Basic Fun, who sends toys from factories in China to Europe and the United States. Key Points

Red Sea shipping pause: Industry sees 30% rise in costs, 2-week delay

Sector watchers said that the alternate route between Europe and Asia through the Cape of Good Hope will take two-three weeks more, depending on where the consignment is to be delivered. This is likely to result in containers being held up in transit for longer and freight prices firming up. Key Points

Stellantis, CATL plan factory in Europe to make cheaper EV batteries

Stellantis (STLAM.MI) said on Tuesday it plans to build an electric vehicle battery plant with China's CATL (300750.SZ) in Europe, its fourth one in the region, as the European carmaker seeks to make cheaper batteries and more affordable EVs. Key Points

War leaves Saudi prince Mohammed bin Salman’s dream of a new mideast in tatters

While Europe is dealing with the impacts of Russias invasion of Ukraine, the war between Israel and Hamas is bringing the regions political fissures back to the forefront of everyones mind. That is complicating Prince Mohammeds efforts to focus the neighborhood on economic development rather than old feuds. Key Points

Heatwave in Europe: Why is Italy witnessing record-breaking temperatures? Know reason behind Europe heatwa

Travel plans have been impacted by the intense heatwave sweeping across the continent, affecting those heading to popular holiday destinations. Several countries, including Spain, France, Germany, and Poland, are anticipated to experience extreme heat waves in the upcoming days. Key Points

Russian sanctions shift oil price-making power to Asia from Europe

Analysts and government officials from consumer countries use the term Asian premium to refer to the higher prices Asian importers have paid for oil sold by big exporters, such as members of the Organization of the Petroleum Exporting Countries. For Asia, a weakened premium amounts to an economic stimulus, highlighting another unintended consequence of the Western sanctions on oil and gas exporter Moscow, which also led to a surge in the amount Europeans have paid for natural gas. Key Points

Europe has second-warmest winter on record as climate change worsens

The average temperature in Europe from December to February was 1.4 degrees Celsius above the 1991-2020 average for the Boreal winter season. Key Points

Hindustan Times

Red Sea: Oil market makes plan to navigate weeks-long troubled waters amidst Houthi threats

The oil market is bracing for long-term disruptions in the southern Red Sea due to attacks by Houthi militants. Charters of tankers reveal that more vessels are being hired for routes that avoid the danger zone. Airstrikes in Yemen by the US and UK have increased chaos in the area. Tankers are now being hired to sail to Asia instead of Europe, leading to a surge in earnings. Additionally, there has been a significant volume of Iraqi crude cargoes booked to sail from the Persian Gulf to Europe around Africa. Key Points

Status quo is not an option for Tata Steel UK: MD, TV Narendran

The Rishi Sunak-led government's earlier proposal barely covered a fifth of the estimated capital cost required at Port Talbot Steelworks, Narendran said. The company's European operations continued to be a drag on its consolidated financials. Edited excerpts: Key Points

India's Diesel Demand Grows In FY23 Even As It Slows In U.S. And China

Higher demand for the fuel suggests economic activity sustaining momentum amid fears of a recession in the U.S. and Europe. Key Points

Europe must rearm as new threats loom, German defence minister says

We need to figure out how best to set ourselves up on the eastern flank on the basis of NATO defense plans, Germany's defence minister Pistorius said, noting he wanted to travel as soon as possible to Poland next year. Pistorius said he did not foresee for the time being the German army repeating missions as big as those they carried out in Afghanistan and Mali. Key Points

Tesla to build 25,000-euro car in Germany - source

Tesla (TSLA.O) plans to build a 25,000-euro ($26,838) car at its factory near Berlin, a source with knowledge of the matter said on Monday, in a long-awaited development for the electric vehicle maker which is aiming for mass uptake of its cars. Key Points

Nearly 36 million in Europe may have experienced long Covid: WHO official

Dr. Hans Kluge said ‘long COVID’ remained ‘a complex condition (that) we still know very little about’ and ‘a glaring blind spot in our knowledge’. | World News Key Points

Hindustan Times

What Modi’s rise tells us about us

Discover what the rise of Modi tells us about the human condition and nature of society. Explore the cultural construct of the nation-state and its historical roots. Gain insights into the mythic idea behind the secular nation-states. Learn about the tribes of Europe and the emergence of powerful historical ideas. Dive into the concept of a single document anchoring a republic. Uncover the significance of Modi's rise in understanding the human condition and nature of society. Key Points

Russia has never hurt India’s interests: S Jaishankar

During his recent visit to Munich, External Affairs Minister S Jaishankar emphasized India's historically stable and friendly relationship with Russia, contrasting it with the varied experiences of other nations. He highlighted that while conflicts may have shaped other countries' relationships with Russia, India's ties with Russia have remained consistently positive. Key Points

Israel-Hamas conflict may pose hurdles to IMEEC timelines: GTRI

The ongoing Israel-Hamas conflict could potentially impact the India Middle East Europe Economic Corridor (IMEEC) project, according to the Global Trade Research Initiative (GTRI). While the immediate consequences of the conflict are limited to Israel and Gaza, the ripple effects throughout the Middle East could have significant implications. Key Points

UNESCO, Dutch launch project to prepare for AI supervision

The Netherlands and the U.N. on Thursday launched a project to help prepare Europe's national agencies to supervise artificial intelligence (AI). Key Points

India's Mahindra Holidays posts 99% slump in Q1 profit as Europe losses weigh

Mahindra Holidays and Resorts India (MAHH.NS) reported a 99% slump in first-quarter profit on Tuesday, hit by higher expenses and widening losses in Europe. Key Points

India's diesel exports to Europe see nearly three-fold jump in February

Amid the threat of Houthi attacks on ships, a large share of diesel exports to Europe was diverted to transit via the Cape of Good Hope, avoiding the Red Sea and the shorter Suez Canal. The longer route means higher freight. This combined with weak east-west arbitrage helped attract more Indian diesel cargoes to Asia in January. Key Points

Ahead of Lok Sabha polls, Jaishankar assures EU of continuity of Modi govt

Speaking at India-EU conclave organised by CII, External Affairs Minister S. Jaishankar also spoke about 1,400-km Trilateral Highway. Key Points

Trade balance with Europe moves into deficit in FY24

India’s trade with Europe stood at a deficit of $1.24 billion during the April-December 2023 period, with exports at $71.68 billion, up 0.66% annually and imports at $72.91 billion, up 6.5% annually Key Points

India’s auto parts makers’ H1FY24 sales up at ₹2.98 tn

Data released by Automotive Component Manufacturers Association of India (ACMA) showed exports of auto components grew marginally by 2.7% to $10.4 billion ( ₹85,870 crore), while imports rose 3.6% to $10.6 billion ( ₹87,420 crore). Key Points

Citi names Gutiérrez-Orrantia Europe banking and cluster head in restructure -sources

The latest step in the bank's reorganisation will be announced later on Monday, the people said. It is also expected to include job cuts and senior management changes that may affect thousands of staff, Reuters reported on Monday. Key Points

G7 Summit commits to promoting India-Middle East-Europe Economic Corridor

At the G7 Summit, the Group of Seven industrialized nations committed to promoting infrastructure projects such as the India-Middle East-Europe Economic Corridor (IMEC), reaffirming a commitment to a free and open Indo-Pacific. Prime Minister Narendra Modi attended the summit at the invitation of Italian Prime Minister Giorgia Meloni. Key Points

Steady Europe keeps stocks near record highs

By Marc Jones LONDON (Reuters) - World shares held close to record highs on Wednesday thanks to new all-time peaks in Europe and on Wall Street, as investors bet hotter-than-expected U.S. inflation Key Points

Indian diesel floods to Asia as Houthis imperil flows to Europe

Shipments of diesel from India to Europe hit a 2-year low due to Houthi attacks, diverting cargoes to Asia. Higher freight costs and refinery maintenance in Asia shifted trade economics in favor of sending cargoes east. No imports of diesel in EU, only one in UK. Arrivals of diesel-type fuel from India to Asian destinations surged. Key Points