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Tag Archives: European Commission

Italy faces trouble as Weaker Russian economy: Romano Prodi

ROME: Weaker Russian economy is extremely unprofitable for Italy, former head of the European Commission, Italy’s former Prime Minister, Professor of Economics Romano Prodi told. Lowered prices in the international energy markets have positive aspects for the Italian consumers, who pay less for the fuel, but the effect will be only short-term. In the long-term however the weaker economic situation ... Read More »

EU approves visa free entrance of Colombians to Schengen countries

BOGOTA: The European Commission has eliminated visa policies for Colombian citizens to move freely around the Europe. The elimination of short-term visas for Colombians and Peruvians under the Schengen rules has been approved by the European Commission and the change is expected to take effect in the first half of next year. “Via diplomatic channels, Colombia was informed of this ... Read More »

EU authorities warn technology companies against creating monopolies

RUSSELS: The European Union’s top executive for digital markets said that he was worried that big tech companies may be abusing mighty positions, but he also said investigations into Google should not be hurried. As sponsors of a European Parliament motion looking for act to lead in Google played down suggestions the US internet search firm should be broken up. ... Read More »

Russia responsible for road blockage in Ukraine: Lithuania

VILNIUS: As Russia was forbidding both commercial and private cars entry from its terrain which became a blunder that increased the congestion of the traffic. Lithuanian “cars and trucks are virtually not allowed into Russia,” Interior Minister Saulius Skvernelis told reporters after a government meeting. The national road carriers’ association in the Baltic EU state said Russia suspended customs procedures ... Read More »

Dollar stable in Asia ahead of Fed meeting

TOKYO: The US dollar was steady in Asia on Wednesday as traders eye the outcome of a Federal Reserve policy meeting later in the day. The greenback fetched 108.12 yen in afternoon Tokyo trade against 108.16 yen in New York. The euro was nearly flat at $1.2737 from $1.2733 and 137.73 yen against 137.74 yen. Currency markets were stuck in ... Read More »

EU states to seal deal on sharing bank data

LUXEMBOURG: Finance ministers of European countries may sign a pact on the automatic exchange of bank data next week to curb tax evasion within the EU. According to diplomatic sources, the agreement would trigger automatic exchange of information for all EU countries from 2017. As per the deal, if someone living in one European Union country opens a bank account ... Read More »

Apple accused of sealing illicit tax dealings in Ireland

BRUSSELS: The US tech giant, Apple, has been accused of illicit tax dealings and tax evasion in Ireland. The European Union (EU) is set to unveil its investigation, in which Apple enjoyed a low rate of less than 2 per cent through tax deals in Ireland and got an unfair competitive advantage. The EU launched an investigation in June into ... Read More »

EU mulls taxing industry to fund watchdogs

LONDON: The European Union’s markets, banking and insurance watchdogs could be funded by a levy on the organisations they supervise, in an attempt by the bloc’s executive body to save taxpayers’ money. The European Commission has been reviewing the three watchdogs it launched in 2011 to make supervision of banks, markets and insurers more consistent across its 28 member countries ... Read More »