EUROPEAN COUNCIL
China's Xi Jinping greets EU Council president ahead of EV tariffs taking effect
China's President Xi Jinping conveyed his congratulations to incoming European Council President Antonio Costa, emphasizing the importance of China-EU relations. This comes ahead of the European Commission's decision to impose tariffs of up to 37.6% on Chinese electric vehicles (EVs), citing state subsidies benefiting Chinese firms. Xi reaffirmed China's commitment to its partnership with the EU, rejecting accusations of unfair subsidies on Chinese EVs. The EU faces internal divisions over supporting these tariffs, with Germany leaning towards opposing them due to significant automotive sales in China, while France supports them firmly.
EU leaders pick Von der Leyen for second term
European Union leaders have nominated Ursula von der Leyen for a second five-year term as president of the European Commission. The bloc's 27 national leaders also selected former Portuguese premier Antonio Costa as future European Council chair and Estonian Prime Minister Kaja Kallas as the next EU foreign policy chief.
UN Security Council demands Iran-backed Yemen rebels halt their attacks on ships in Mideast waters
The U.N. Security Council approved a resolution demanding Yemen's Houthi rebels halt attacks on ships and address maritime security disruptions in a critical Middle East waterway. The resolution, approved 12-0 with Russia, China, and Algeria abstaining, did not mention the Houthis' claim that their attacks are related to the Israel-Hamas war. The resolution condemns the Houthis' attacks and calls for addressing regional conflicts.
US and allies clash with Tehran and Moscow over Iranian nuclear programme at UN Security Council
The United States and key European allies clashed with Iran and Russia over Tehran's expanding nuclear program The US vowed to prevent a nuclear-armed Iran in a UN Security Council meeting. The US and its allies accused Iran of escalating nuclear activities beyond limits agreed upon in a 2015 deal. Iran and Russia defended Tehran's nuclear program oversight and blamed the US for sanctions.
EU defers ban on Russian diamonds by six months
A few other relaxations, like ring-fencing old stocks, announced by the European Commission, the executive arm of the EU, would give a further breather to the local diamantaires which constitute the world's largest importer of rough diamonds. According to a statement issued by the Commission on Monday, the ban on import of Russian diamonds would not extend to either rough or polished stones which were there in the EU and other countries (like India) before the beginning of the sanctions in March 2024.
China watches cautiously as Russia and North Korea strengthen ties
China is closely watching as Russia and North Korea strengthen their relationship through a new defense pact, raising concerns about power dynamics. China faces a strategic dilemma, aiming to maintain peace on the Korean Peninsula while countering US influence. Its restrained response indicates uncertainty about how to navigate the situation. Experts suggest internal disagreements or difficulty assessing the situation may be hindering China's response. While some in China may see the pact as balancing US dominance, there is discomfort over potential outcomes.
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Meloni camp pulls ahead of Macron's in EU parliament
Parliamentary insiders however say the balance of power in the 720-seat European legislature remains essentially unchanged from the last legislature. It lies with a centrist tie-up made up of the conservative European People's Party (EPP), the biggest group with 189 seats, the leftist Socialists & Democrats (S&D) with 136, and the liberal Renew Europe that includes the French president's party.
Landmark EU nature restoration plan gets final approval as bloc gives the green light
The law, which aims at restoring ecosystems, species and habitats in the EU, was finally adopted at a meeting of environment ministers at Luxembourg after rallying the required support from a qualified majority representing 15 of the 27 member states and 65 per cent of the EU population.
India to act as voice of Global South at Italy's G7 Summit
India's PM Narendra Modi will address Global South issues during the 50th G7 Summit in Italy, which will take place from June 13 to 15. The summit will bring together leaders of seven member states, the European Council and Commission, and other international organizations. India's participation marks its 11th and PM Modi's 5th participation in the Outreach Session of G7 Summits.
Giorgia Meloni, Italian PM and far-right leader, wins European Parliament polls, becomes kingmaker in Europe
Italian Prime Minister Giorgia Meloni's Brothers of Italy party secured 28% of votes in the European elections, enhancing her political influence. This result outperformed their 2022 general election showing and came at the expense of Matteo Salvini's League party, which dropped to 8.5%. The centre-left Democratic Party gained 24.5%, while the Five Star Movement fell to 10.5%.
Millions will vote on Europe's super Sunday, with surveys suggesting a shift to the right
Voters across 20 European nations are casting their ballots in the EU election super Sunday, with concerns over a potential shift to the political right impacting the bloc's decision-making amidst ongoing conflicts and rising anti-migrant sentiment. Populist parties are expected to make gains, potentially reshaping the European Parliament's dynamics. The elections mark a pivotal moment for the EU's future trajectory and international relationships.
Assault on Danish PM Mette Frederiksen: Suspect to face judge for questioning
The prime minister was able to walk away and had no outward signs of harm after the assault, Soren Kjergaard, who works as a barista in central Copenhagen, told mediapersons after seeing her being escorted away by security. Police said the man would be brought before the Copenhagen City Court for questioning at around 1 p.m. (1100 GMT), but declined to provide more detail.
European shares close shy of record after ECB delivers first rate-cut in five years
In new forecasts, the ECB said it expected inflation to average 2.2% in 2025 - up from a previous estimate of 2.0% and meaning it was now seen holding above the central bank's 2% target well into next year. ECB President Christine Lagarde said that only one ECB Governing Council member had opposed the bank's decision to cut interest rates earlier in the day.
ECB cuts rates, keeps next move under wraps
The European Central Bank cut interest rates for the first time in five years, lowering the deposit rate to 3.75%. The move came in response to inflation uncertainty following a slowdown. This move is seen as the start of an easing cycle, but future cuts may be delayed due to price and wage pressures. ECB remains data-dependent and may wait until September for further action. Fed's stance may impact ECB's decisions.
Denmark, Greece, Pakistan, Panama and Somalia are set to get seats on the UN Security Council
Denmark, Greece, Pakistan, Panama, and Somalia are set to secure seats on the U.N. Security Council after a secret ballot by the General Assembly. The 193-member body will elect five countries for two-year terms, starting January 1, replacing Mozambique, Japan, Ecuador, Malta, and Switzerland. These nations will join the permanent members and last year's elected members
EU carbon tariff: India preps for a fight at WTO
India is considering challenging the European Union's Carbon Border Adjustment Mechanism (CBAM) at the World Trade Organization, which mandates non-EU steel producers to report emissions, impacting sectors like iron and steel, cement, and more.
How China pulled so far ahead on industrial policy
The problem for the West, though, is that China's industrial dominance is underpinned by decades of experience using the power of a one-party state to pull all the levers of government and banking, while encouraging frenetic competition among private companies.
France says conditions not right to recognise Palestinian state
France does not see the conditions as suitable to officially recognize a Palestinian state. Foreign Minister Stephane Sejourne emphasized the need for more than symbolic gestures in this decision.
Cards vs UPI; Byju’s advisory council dissolved
Happy Monday! UPI's ease of use is driving a shift to cashless payments, leaving debit cards behind. This and more in today’s ETtech Morning Dispatch.
Iran President Ebrahim Raisi dead: Who is Mohammad Mokhber, Iran's new president?
Iran New President: Mohammad Mokhber, 68, is Iran's interim president following Ebrahim Raisi's death in a helicopter crash. He leads a council to organize a new presidential election within 50 days. Mokhber, close to Supreme Leader Ali Khamenei, was vice president since 2021 and previously headed Setad, an investment fund. He has been involved in significant diplomatic and military dealings with Russia.
China 'can't have it both ways' on Russia and Western ties: US
US criticized China for supporting Russia in Ukraine, hindering ties with Europe. Meanwhile, Xi Jinping and Putin marked 75th anniversary, aiming to enhance cooperation. Xi also concluded Europe tour after promoting a multipolar world vision.
"Lone wolf" has been charged with shooting Slovak prime minister: Interior minister
Slovakia's Interior Minister announced that a "lone wolf" has been charged in the shooting of Prime Minister Robert Fico. Th incident caused widespread shock and soul-searching in the deeply divided society. Fico, in serious but stable condition, was targeted with political motivations according to initial investigations. The attempt to murder has sparked calls for unity and calm amid heightened political tensions and upcoming European parliament elections.
How Slovak Prime Minister Robert Fico's bodyguards responded to the assassination attempt
Slovak Prime Minister Robert Fico was shot and hospitalized after a meeting in Handlova. The suspected gunman has been detained. Fico, reportedly shot multiple times, is in serious condition. Global leaders, including EU chief Ursula von der Leyen, condemned the attack, calling it an assault on democracy. The incident led to the suspension of a parliamentary session. Leaders worldwide expressed shock and solidarity with Fico and Slovakia, emphasizing the need to combat violence and uphold democratic values.
Protesters throng streets of Georgia's capital after parliament passes so-called 'Russian law'
Georgia's parliament has approved a "foreign influence" bill, which critics argue is a Russian-style threat to free speech and the country's aspirations to join the European Union. The bill requires media and nongovernmental organizations to register as "pursuing the interests of a foreign power" if they receive more than 20% of their funding from abroad. The opposition has denounced the bill as "the Russian law" because Moscow uses similar legislation to crack down on independent news media, nonprofits, and activists critical of the Kremlin.
'There would be ceasefire tomorrow if...': Joe Biden's stern message to Hamas
US President Joe Biden said a ceasefire in Gaza could happen as soon as amas releases hostages. Talks between Israel and Hamas have been stalled as Israel wants to defeat Hamas before a permanent ceasefire. Meanwhile, the US has paused weapon delivery and warned against a major Israeli operation. Israeli forces intensified operations in Rafah, ordering evacuations, drawing criticism from EU.
Why contaminated foods can easily enter your kitchen
Though India has a food regulator, the actions regulators abroad take on exported foods seem to get wider attention. There is a danger of trust deficit that needs urgent attention through better testing, penalties, and transparency.
Italy's president says Russia's invasion of Ukraine can't be solved by rewarding Moscow's aggression
Italy's president, Sergio Mattarella, addressed the U.N. General Assembly, stating that Russia's invasion of Ukraine cannot be resolved by rewarding aggression. He emphasized that peace can only be achieved by restoring Ukraine's sovereignty and territorial integrity. Italy, now leading the G7, and many international partners stand in solidarity with Ukraine, defending nations attacked in violation of international law. Mattarella warned against violating principles of sovereignty and territorial integrity, stressing that Russia's actions have rekindled war in Europe and disrupted global peace.
Schengen visa rule to give more Indians a reason to plan European summers
According to the newly adopted visa "cascade" regime for India, Indian nationals can now be issued long-term, multi-entry Schengen visas valid for two years after having obtained and lawfully used two visas within the previous three years. The two-year visa will normally be followed by a five-year visa, if the passport has sufficient validity remaining.
World reacts to Iran strikes on Israel
Countries around the world condemned Iran's strikes on Israel late Saturday, warning the attack threatened to further destabilise the Middle East. It is vital that the conflict in the Middle East does not spiral out of control," spokesperson Farah Dakhlallah said.
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