Sat, 09/24/2011 - 15:08 by Manisha Mishra
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Wed, 07/06/2011 - 18:33 by Anter Prakash Singh
The US Airlines are vehemently opposing the measures proposed by the European Union to control the greenhouse gas emissions and have moved its highest Court. The EU is going to charge the airlines for the carbon dioxide emissions by planes flying over Europe.
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Mon, 06/27/2011 - 14:04 by Anter Prakash Singh
The parliament of Greece is going to start discussions on the austerity measures which the European Union and the IMF want to pass before distributing the next installment of the bailout programme.
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Thu, 12/09/2010 - 07:35 by Prince damin
Brussels -- Billions of dollars in funding intended to help small businesses in Europe were held up by banks, a watchdog group said Wednesday.
European Union finance ministers approved the $20 billion aid for small businesses as credit began to dry up in 2008, the EUobserver reported.
But a watchdog group, Bankwatch, based in the Czech Republic, said the European Investment Bank has only handed out 74 percent of the funds to commercial banks and that only 69 percent of what was disbursed was distributed through small business loans.
Commercial banks, the figures indicate, held onto half of the $20 billion funds that targeted small businesses.
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Tue, 12/07/2010 - 23:12 by Prince damin
Brussels -- Opening Russian archives concerning a 1940 mass murder of Poles is a big step toward improved international relations, a European Union official said.
EU Commissioner of Neighborhood Policy Stefan Fuele in Warsaw said, "We need to recognize that the psychological process of reconciliation following the Cold War has run its course. Recent Polish-Russian efforts in this respect are of crucial relevance here."
Monday, Russian President Dmitry Medvedev, also in Poland, said Russia would open archives concerning the massacre of 22,000 Poles in the Katyn Forest under the Stalin regime, the EUobserver reported Tuesday.
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Thu, 12/02/2010 - 22:45 by Prince damin
Brussels -- Economies of the European Union rose 0.5 percent in the third quarter, Eurostat said Thursday, revising the preliminary estimate by 0.1 percentage points.
Eurostat held to its estimate of 0.4 percent quarter-to-quarter growth for the 16-nation eurozone.
From the third quarter a year ago, the EU's economy has grown 2.2 percent, while the eurozone economy has grown 1.9 percent, Eurostat said.
The figures compare to 0.6 percent quarter-to-quarter growth in the United States and 0.9 percent in Japan.
In Europe, Sweden led quarter-to-quarter growth with the GDP gaining 2.1 percent. In Poland, growth reached 1.3 percent, while in the Czech Republic, growth was pegged at 1.1 percent.
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Tue, 11/30/2010 - 07:59 by Prince damin
New York -- U.S. markets opened sharply lower Monday after the European Union announced a $90 billion rescue package for Ireland.
Financial ministers are trying to stop the erosion of investor confidence before it spreads to Portugal and Spain. In Asia, stocks were mostly higher Monday, but stocks were lower in most of Europe after the deal was announced Sunday.
On Wall Street in early-afternoon trading, the Dow Jones industrial average lost 116.37 points, 1.05 percent, to 10,975.63. The Standard & Poor's 500 index lost 0.88 percent, 10.45, to 1,178.95. The Nasdaq composite index lost 1.14 percent, 28.77, to 2,507.79.
The benchmark 10-year treasury note rose 9/32 to yield 2.839 percent.
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Fri, 10/22/2010 - 07:24 by Prince damin
Brussels -- The European Commission said it is reviewing a plan to have banks pay fees to offset future financial industry bailouts in the European Union.
EU Internal Market and Services Commissioner Michael Barnier said, "No bank should be too big to fail or too interconnected to fail," the EUobserver reported Thursday.
"We need a clear framework which ensures authorities throughout Europe are well prepared to deal with banks in difficulty and handle possible bank failures in an orderly manner," he said.
Under the proposal, international banks headquartered in Europe would be taken over by a series of "resolution colleges" comprised of bank regulators.
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Wed, 10/06/2010 - 23:56 by Prince damin
Brussels -- South Korean President Lee Myung-bak said the free trade agreement with the European Union would set a positive example in the financial crisis.
Lee, along with European leaders, attended a signing ceremony for the pact in Brussels. He then said it would stand as an example of meeting the financial crisis with cooperation, rather than protectionism, the Yonhap news agency reported Wednesday.
"As the emergence of protectionism is feared in the process of the world overcoming the economic crisis, I am confident that the South Korea-EU FTA will become an exemplary case in expanding free trade and fostering sustainable economic growth," Lee said.
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Fri, 09/17/2010 - 21:50 by Prince damin
Brussels -- The European Union's statistical office said Friday that construction in the 16-member euro area declined 3.1 percent in July from June.
Production in the construction sector also dropped in the 27-member European Union, falling 2.5 percent, Eurostat said.
Compared to a year ago, output from construction firms fell 7.5 percent in the euro area and 2.3 percent in the European Union.
Construction output fell sharpest in Romania, dropping 28.3 percent. In Spain, which went through a building boom before the financial crisis hit, construction fell 10.3 percent from June to July.
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Thu, 09/16/2010 - 09:12 by Prince damin
Brussels -- In response to the ongoing decline in the world's bee populations, the European Union says it will increase its financial support of Europe's beekeeping sector.
The $35 million annual support of 2008-2010 will be increased to $43 million from 2011 to 2013, EUobserver reported Wednesday.
The increased money from Brussels will go towards national research projects dedicated to discovering methods for controlling threats faced by bees.
Domesticated honeybees are among Europe's most important pollinators, but they have been hit by a plague of problems over the last decade, including habitat loss, climate change and parasites, experts say.
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Wed, 09/08/2010 - 05:50 by Prince damin
Strasbourg, France -- European Commission President Jose Manuel Barroso said the European Union came through the financial meltdown, not unscathed, but intact.
\"Over the last year, the economic and financial crisis has put our Union before one of its greatest challenges ever," Barroso said in a speech in Strasbourg, France, the EUobserver reported Tuesday.
"I believe we have withstood the test," he said, adding, "Those who predicted the demise of the European Union were proved wrong."
Barroso also said, "Our work is not finished."
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