Search Result for : Eu

The Dollar Business Bureau The German Chancellor Angela Merkel warmed to the idea of creating a combined European finance and the forming of a European Monetary Fund. This signalled a willingness on the part of the Chancellor to deepen the euro zone integration. On the idea floated by her finance minister Wolfgang Schaeuble, Merkel said she supported “the very good idea” to turn the euro zone’s rescue fund, the European Stability Mechanism (ESM), into a European Monetary Fund. In May 2010, the European Financial Stability Facility was formed which was later called the ESM. The ESM works alongside the IMF in assisting Europe’s financial programmes. The creation of ESM was a powerful step offering a powerful means to backstop sovereign debt markets and ...

The Dollar Business Bureau A leading Indian pharmaceuticals company Aurobindo Pharma has said that it would widen its product portfolio in the American market while planning to enter new markets in the Europe, a part of the company’s growth strategy in the coming 3-4 years. In the US market, Aurobindo Pharma plans to widen its portfolio through faster growth in OTC, injectable and higher complexity products, the company said in a presentation to investors. However, in European market, the company plans to enhance its presence in new geographies like Czech Republic and Poland, in addition to strengthening its position in the existing markets of Germany, France, Spain, Netherlands and the UK. Aurobindo Pharma is the 6th largest generic company by volume in the US, ...

By Sheela Mamidenna The UK – on June 24th, 2016 – decided to test the depth of the water with both legs though a referendum. And the Brexit as expected is blowing things out of proportion. Ever since the Brexit, EU members have been huddling to strengthen the trade bloc And while Brexit talks are underway in Brussels, the latest test is on London’s might as the financial global empire! And this – the recent governmental news that leaked – has put Londoners on the edge. It revealed that London as a ‘financial powerhouse’ may not rest on its laurels for long as the freshly elected Emmanuel Macron-led France sought to usurp that position. Well, Global Financial Centres Index, a report ...

The Dollar Business Bureau (sourced from PIB) European Union (EU) and India on Friday announced the establishment of an Investment Facilitation Mechanism (IFM) for EU Investments in India. The mechanism will allow for a close coordination between the EU and the Government of India with an aim to promote and facilitate investments from the EU in India. This agreement builds on the Joint Statement of the 13th EU-India Summit held in Brussels in March 2016, where the EU had welcomed India's readiness to establish such a mechanism and leaders from both sides had reaffirmed their shared commitment to oppose protectionism and to work in favour of a fair, transparent and rule-based trade and investment environment. As part of the IFM, the EU Delegation to ...

The Dollar Business Bureau The livestock farmers in India have prodded the Government to initiate measures in order to resume the exports of eggs to Qatar, which is now buying the commodity from EU and US at higher prices after the Gulf nation was isolated by its neighbours.  Before 2008, India was meeting 80% of Qatar’s requirements for table eggs. However, after the outbreak of bird flu (avian influenza) in 2006 and 2008 in the northern region of the country, Qatar banned poultry products from India including eggs, according to the Livestock & Agri Farmers Trade Association. Despite norms set by the World Organisation of Animal Health (OIE) to remove the ban after a surveillance of 90 days and to allow imports from ...

The Dollar Business Bureau  India’s widely appreciated basmati rice may face the closed doors of the EU due to the new regulations that EU has imposed on chemical residues, The All India Rice Exporters Association (AIREA) said on Wednesday. A fungicide named tricyclazole which many farmers use to prevent leaf and neck blast in basmati paddy varieties was banned by EU. For sometime EU had allowed a maximum residue limit (MRL) of 1ppm (parts per million) on the basmati rice that was exported to EU. However, it has issued a notification that residues above 0.01 ppm will not be allowed in the basmati imports after Dec 31, 2017.  Speaking to the media, AIREA President, Vijay Setia said it would not only impact their ...

The Dollar Business Bureau  Antitrust regulators of the European Union have come down heavily on Google by imposing a whopping $2.7 bn antitrust fine and warning the search engine leader it will take a tough line on two other cases too.  The European Union Commission in a press release said, ‘the world's most popular internet search engine has 90 days to stop favouring its own shopping service or face a further penalty of up to 5% of Alphabet's average daily global turnover.’  This is one of the biggest fine that the EU has imposed on a single company after the $1.06bn antitrust fine that was handed to Intel in 2009.  The release said that the Commission found during its investigations that the search engine ...

By Sheela Mamidenna UK and India share an age-old history of common interests and values and with India’s rapid rise to fame as the ‘fastest growing large economy’ in the world, the relations between the two countries could ‘reboot’ as Theresa May had expressed during her visit to India in November last year. UK is India’s 5th largest trading partner and a great place for Indian businesses and will remain so post-Brexit for many reasons. However, trade bodies like FICCI voiced a negative sentiment saying that trade between India and UK is likely to suffer due to the Brexit vote and a decline in sterling. There are over 800 Indian businesses operating in the UK and serving as a gateway to Europe. Experienced ...