Search Result for : European Commission

The Dollar Business Bureau Chinese cast iron products have been imposed anti-dumping duties as high as 42.8% by the European Commission. An eight-month investigation by the Commission confirmed that China dumped its hot-rolled flat steel at cheap prices in the European market, causing losses to several EU steel producers. The European Commission acted on behalf of the 28 countries in EU in imposing the ADD, which was triggered by a complaint filed by  Fondatel Lecompte SA, Ulefos Niemisen Valimo Oy Ltd, Saint-Gobain PAM SA, Fonderies Dechaumont SA, Heinrich Meier Eisengießerei GmbH & Co KG, Saint-Gobain Construction Products UK Ltd and Fundiciones de Odena SA. This group produces nearly 40% of the EU-bloc’s cast iron products. With regard to reports of Indian steel too being ...

The Dollar Business Bureau India is in talks with the EU voicing the concerns of Indian rice exporters on the tightening of regulations on the usage of pesticide in Basmati rice that will impact exports to the region. The European Commission has revised the maximum residue limit (MRL) and brought down the level of fungicide Tricyclazole to 0.01 mg per kg in basmati rice starting next year. “We are discussing the matter with them. Some European countries also use this pesticide,” Commerce Secretary Rita Teaotia told reporters in New Delhi on Tuesday. All India Rice Exporters' Association (AIREA) has said that stricter norms by the European Commission will badly impact the rice exports from India as trade worth more than Rs.1,700 crore could be shifted to Pakistan. The Rice Exporters body has said that the European Commission has ...

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 ...

The Dollar Business Bureau  Greece has made a plea to its eurozone creditors and International Monetary Fund (IMF) to refrain from further imposition of austerity on its already slowing economy. Since the country has met its budget targets, the government's spokesperson said that there is no reason for tougher conditions on the proposed bailout package, the terms for which have been in negotiation for months.  It is crucial for Greece to receive the 86 billion Euro bailout package in order to fulfill its interest obligations, which it will inevitably default on without external aid. The tug-of-war between the creditors and the Greece government has culminated in a stalemate, with neither party willing to budge from its position with respect to stringent reforms and spending cuts.  "The Greek government ...

The Dollar Business Bureau  The European Union (EU) warned UK that it must abstain from any formal dialogues for bilateral trade pacts with the third countries till after its exit from the Union. The rebuke by the European Union came before a visit on January 27 by UK’s Prime Minister Theresa May to the US for meeting President Donald Trump, with a possible deal on trade in the agenda. “(Trade) is an exclusive matter of the EU. You can of course discuss, debate, but you can only negotiate a trade agreement after you leave the Union,” Margaritis Schinas, spokesman, European Commission told reporters in Brussels. “There is no such thing in the treaties of the EU that prohibits anyone to discuss trade,” he added. The ...

The Dollar Business Bureau SeQuent Scientific Ltd on Monday announced that its subsidiary Alivira Animal Health Ltd is planning to acquire 60 percent stake in Spain’s Karizoo Group. The company, however, didn’t disclose the transaction amount. “Alivira Animal Health Ltd would buy 60 percent share in the family-owned Vila Vina Particpacions (VVP), which owns Karizoo Spain, Covivet Spain, Phytosolutions Spain, and Karizoo Mexico,” SeQuent said in a statement.  The remaining 40 percent stake will continue to be held by its existing promoters. The acquisition will be done through Alivira Ireland, a fully-owned arm of the company. With this latest acquisition, Alivira will become a major player in the global animal health space, with annual revenues above $120 million. Manish Gupta, Managing Director of Alivira said, ...

The Dollar Business Bureau India has signed agreements with six countries in order to enhance international air connectivity and improve services for passenger travelling through Gulf and African countries. The Memoranda of Understanding (MoUs) were signed at the International Civil Aviation Negotiations held in Antalya, Turkey during October19-23. The agreements were signed with Scandinavian countries—Finland Sweden, Norway & Denmark – as well as Kazakhstan, Kenya, Oman and Ethiopia. During the conference, the Indian delegation representing the Ministry of Civil Aviation negotiated with the delegations from 11 countries.  The Indian delegation also “agreed minutes” with Serbia, Greece, European Commission and “record of discussions” with Brunei Darussalam and Qatar, a Finance Ministry statement said on Thursday. The MoUs would enhance the international air connectivity ...

The Dollar Business Bureau Representatives of customs departments from 53 countries of Asia and Europe will hold a two-day meeting on October 8-9 in Goa to discuss various issues including those related to trade facilitation and cooperation in legal matters. “The two-day meeting will focus on the five main priorities of ASEM viz. trade facilitation and supply chain security; combating infringement on IPR; protection of society and environment; involving business; and communication and visibility,” the Finance Ministry said in a statement on Monday. The Central Board of Excise and Customs (CBEC) will host the 11th Asia Europe Meeting (ASEM) of the Directors General-Commissioners of Customs in Goa. The meeting will be chaired by Najib Shah, Chairman, CBEC. India is hosting the meeting ...