Tag Archives: Eu

EU leaders set crisis fund, ECB boosts capital

EU leaders set crisis fund, ECB boosts capital

BRUSSELS – European Union leaders agreed on Thursday to create a permanent financial safety net from 2013 and the European Central Bank moved to increase its firepower to fight the debt crisis that has rocked the euro zone.
But at Germany’s insistence, the 27 leaders said the long-term crisis-resolution mechanism, to be added to the EU’s governing treaty, could only be activated “if indispensable to safeguard the stability of the euro as a whole”. They also decided there was no

Canada, EU likely to sign free trade pact

OTTAWA: Canada and the European Union are on track towards signing a free trade agreement by the end of 2011, trade representatives said Wednesday. After “taking stock of progress” made to date, Canadian Trade Minister Peter Van Loan and EU Trade Commissioner Karel De Gucht said that they were “satisfied with the substantial progress that has been made in the negotiations.”
Official talks for a Comprehensive Economic and Trade Agreement between Canada and the EU were launched in

Eurozone bond debate rages ahead of EU summit

BRUSSELS: A dispute over creating joint eurozone bonds to help weak European nations threatened Wednesday to creep into an EU summit aimed at preventing future debt crises amid fresh fears over Spain’s economy.
The head of eurozone finance ministers, Luxembourg Prime Minister Jean-Claude Juncker, said he may raise the issue when European Union leaders hold talks in Brussels on Thursday and Friday. Concerns about the eurozone’s health deepened after Moody’s ratings agency warned

EU trade concessions delayed till March

ISLAMABAD: Tariff concessions announced by the European Union (EU) on 75 Pakistani products will not be implemented from January 1, 2011 and the country will have to wait till March when the World Trade Organization (WTO) again takes up the proposed wavier, an official source said.
Opposition from South Asian competitors, India and Bangladesh at the WTO’s council for trade in goods has forced the EU to delay the implementation of concessions announced for Pakistan. EU would again

EU set to sanction I Coast’s Gbagbo

BRUSSELS: The European Union is set Monday to slap sanctions on Ivory Coast’s Laurent Gbagbo and any of his allies who dig in and refuse to recognise defeat at the polls last month.
A draft statement seen by AFP, penned by ambassadors of the 27-nation bloc and to be endorsed later in the day by foreign ministers, calls for a visa ban and a freeze on assets “against those obstructing peace” and “threatening the proper outcome of the electoral process.”
These measures, it

Pakistan looks to US for EU concession approval

KARACHI: Islamabad would approach the US and ask for its help to persuade India, Bangladesh and Srilanka to support the additional autonomous trade preferences granted by the European Union (EU).
The EU trade concession bill would unanimously pass in the WTO if India supports the bill, as other member countries of the international organisation are in favour of the draft bill forwarded by EU, Federal Minister for Textile Industry Rana Farooq Saeed Khan told Pakistan Today.

India, EU not eye-to-eye on trade-aid for Pakistan

BRUSSELS: India and the European Union are seeking a compromise on a controversial EU plan to offer flood-devastated Pakistan trade concessions as relief, both sides said at a summit on Friday.
Prompted by Britain, leaders of the 27-nation bloc have approved a scheme to offer two years of trade concessions to Pakistan – essentially on textiles – to ease its recovery from the floods, but need a waiver from the WTO in Geneva to kickstart the aid.
India however has expressed

EU, India agree to crank up anti-terror cooperation

BRUSSELS: The European Union and India agreed on Friday to intensify their cooperation against terrorism to deny safe havens to extremists in the wake of the Mumbai attacks and new threats against Europe.
Prime Minister Manmohan Singh and the EU leadership issued a joint declaration in Brussels vowing to encourage “all” nations to dismantle “terror infrastructure on the territories under their control.” They did not name any country but the West has been on high alert over fears

EU unlikely to lift ban on seafood imports from Pakistan

KARACHI: The European Union (EU) is unlikely to lift a ban on the import of seafood products from Pakistan since the Sindh government and the Karachi Fish Harbour authorities are seemingly reluctant to comply with the EU’s instructions, Pakistan Today learnt on Friday.
The EU had barred seafood imports from Pakistan in April 2007, an action taken following EU’s inspectors visit to Pakistan. The inspectors had found the industry’s food processing to be substandard, causing

EU will assist Pakistani security agencies

ISLAMABAD: A Memorandum of Understanding (MoU) regarding the programme ‘Civilian Capacity Building for Law-Enforcement in Pakistan’ aimed at assisting Pakistan for capacity building of its law enforcement agencies and to enhance the capability of the National Counter-Terrorism Authority (NACTA) was signed between the European Union (EU) and Pakistan on Wednesday.
According to MoU, EU would provide technical assistance to build the capacity of provincial police forces in Khyber

EU sets trade deal for Pakistan

BRUSSELS: European Union governments have approved a raft of trade concessions for Pakistan, diplomats said on Thursday, a move to help the South Asian country rebound from July floods which caused nearly $10 billion of damage.
The final package is less extensive than the EU had hoped to agree but still covers 75 Pakistani exports – from cotton sheets to clothing and ethanol — which will be allowed to enter the EU duty-free from 2011, an EU spokesman said. The duty waiver now

Sindh seeks EU help to develop Thar coal

KARACHI: The Sindh government has decided to approach the European Union (EU) to benefit from the Research Fund for Coal and Steel (RFCS) in its quest to develop the Thar and Badin coalfields and overcoming the persistent energy crisis, Pakistan Today has learnt.
It would also seek the latest research data and information on the underground coal gasification technology from the EU that would assist in harnessing the coalfields.
Direct funding from the RFCS is restricted to

Croatia moves toward finalising EU accession talks

BRUSSELS: Croatia took a step towards finalising its European Union accession negotiations on Friday, closing talks on three policy areas in hopes of becoming an EU member in the next two years.
Zagreb’s chief EU negotiator, Vladimir Drobnjak, said after meeting EU officials in Brussels that the former Yugoslav republic should be able to complete accession preparations in the first half of 2011.
“Our goal is to close talks during the Hungarian presidency of the EU. This is

German media sees partial victory for Merkel on EU

BERLIN: German media offered guarded praise for an agreement in Brussels to make limited changes to the EU treaty, describing it as a compromise that bought time to find a lasting remedy to debt woes that have plagued the bloc.
Under pressure from Chancellor Angela Merkel and French President Nicolas Sarkozy, EU leaders in Brussels agreed that changes were needed to create a permanent system to handle sovereign debt problems and endorsed tougher budgetary rules, including

Russia, Poland sign gas deal, eyes on EU stance

WARSAW: Poland and Russia signed a new natural gas deal on Friday, after the EU rejected a previous one, that increases Russian deliveries to Poland’s gas company by some 2.5 billion cubic metres to 10 bcm a year until 2022.
Poland would be short of some 2.5 bcm of gas annually without the deal, which was clinched after more than a year of talks and must still be approved by the European Commission.
The European Union executive had forced Warsaw to renegotiate after saying

British secretary arrives to discuss EU terror plot

British Home Secretary Theresa May arrived in Pakistan on Sunday on a three-day visit to share vital information about the “Europe terror plot”, allegedly planned in North Waziristan.
She will share the intelligence information with Pakistani authorities and urge them to take stronger action against the Al Qaeda and the Taliban in the Tribal Areas.
May arrived in Lahore on the first leg of her visit, and Punjab Governor Salmaan Taseer received her upon her

President lauds EU initiative to grant trade concessions

ISLAMABAD: President Asif Ali Zardari has said that the government is vigorously pursuing the recent progress made in a meeting of the EU foreign ministers, which granted market access to Pakistani goods into the European trade markets.
The President was hopeful that such steps would boost Pakistan’s economy and address unemployment. According to the Presidency Spokesman, he said this while he was talking to the Chairman of All Pakistan Textile Mills Association (APTMA) Ejaz