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Business news and information from the European Union

EU signs geographical indications deal with China
The EU and China signed a bilateral agreement Monday to protect 100 European Geographical Indications in China and 100 Chinese GIs in the European Union against usurpation and imitation.

Brussels mulls regulatory action against fake news
Online platforms need to show more accountability, responsibility and transparency, the EU Commission said Thursday, as it presented its assessment of the effectiveness of the EU Code of Practice on Disinformation.

EU forecasts big increase in VAT gap due to coronavirus
Forecasts for 2020 VAT revenues to EU Member States show a potential loss in the region of EUR 164 billion due to effects of the coronavirus pandemic on the economy, as well as fraud and tax evasion.

EU aims for resilience with new foresight strategy
Resilience is the keyword of a new strategic policy direction outlined by the EU Commission Wednesday, pointing to more evidence-based strategic choices that are aimed at strong and lasting recovery.

Brussels prepares to implement EU-U.S.tariff cuts
The EU Commission published a proposal Tuesday for a regulation to scrap duties on certain imports from the United States to the EU, with the U.S. in return to reduce duties on certain EU exports to its market.

Poor environment causes one in eight deaths in Europe
Heatwaves, air and noise pollution contribute to 13 per cent of all deaths in Europe, according to a major assessment on health and environment released Tuesday the EU Environment Agency (EEA).

New raw materials strategy to lead Europe's green transition
A new raw materials strategy, proposed Thursday by the EU Commission, would reduce Europe's dependency on third countries, diversify supply and promote responsible sourcing worldwide.

New car type-approval rules in force across Europe
New EU type-approval rules for cars, which came into force across Europe on 1 August, significantly overhaul and tighten the previous type approval and market surveillance system.

Brussels signs first contract with AstraZeneca
The first pharmaceutical contract negotiated by the EU Commission on behalf of EU Member States entered into force Thursday following the formal signature between AstraZeneca and the Commission.

EU, United States agree trade tariff reductions
United States and EU trade representatives announced Friday agreement on a package of tariff reductions that will increase market access for hundreds of millions of dollars in U.S. and EU exports.

Europe readies EUR 81.4 bn to mitigate effects of pandemic
The European Commission presented proposals Monday for financial support of some of EUR 81 billion to 15 EU Member States to help protect jobs and workers affected by the coronavirus pandemic.

Brussels concludes talks with fifth vaccine manufacturer
The EU concluded exploratory talks with U.S. based company Moderna Monday to purchase a potential vaccine against COVID-19 - the fifth company with which the Commission has concluded talks.

European culture capitals offered extensions
Croatian city Rijeka and Galway in Ireland could extend their year as 2020 European Capitals of Culture until 30 April 2021, because of the effects of the coronavirus crisis, the Commission announced Tuesday.

EU set to impose sanctions on Belarus for unfair elections
Following a European Council video conference Wednesday, EU leaders made clear they did not recognise election results presented by the Belarus authorities, which did not meet international standards.

New talks with CureVac expand EU portfolio of future vaccines
The EU Commission concluded Thursday exploratory talks with CureVac to purchase a potential vaccine against COVID-19, offering the possibility for all EU Member States to purchase the vaccine.

EC sets out its fish quotas for Mediterranean, Black Seas
The EU Commission set out proposals for fishing opportunities for 2021 in the Mediterranean and the Black Seas Monday, saying these reflect ambitions to promote sustainable management of fish stocks.

Brussels reaches 1st agreement on potential COVID-19 vaccine
The Commission reached first agreement Friday with pharmaceutical company AstraZeneca to buy a potential vaccine against COVID-19 as well as to donate to lower and middle income countries.

EU curbs Cambodia's trade access over human rights
Some of Cambodia's typical export products to the EU, such as garments, footwear and travel goods became subject to EU customs duties as of Wednesday over increased concern about human rights.

EUR 128m EU funding for coronavirus research projects
The EU Commission announced EUR 128 million of EU funding Tuesday for 23 new research projects involving 347 research teams from 40 countries in response to the ongoing coronavirus pandemic.

EU pledges further EUR 30m to support Lebanon
At Monday's international conference on aid for Lebanon, the EU Commission pledged new funding worth EUR 30m to help address the immediate needs of those affected by the deadly explosion in Beirut.

EU-Vietnam trade agreement enters into force
EU exports to Vietnam are taxed less as of 1 August, when the EU-Vietnam trade agreement entered into force, a deal that will ultimately scrap duties on 99 pre cent of all goods traded between the two sides.

Google's proposed Fitbit buy under full EU investigation
The EU Commission opened Tuesday an in-depth investigation to assess the proposed acquisition of Fitbit by Google over the amount of data Google could use for personalisation of the ads it serves.

EU agrees new rules on excise duties for alcohol
The EU Council agreed new rules governing excise duties on alcohol Thursday, paving the way for an improved business environment and for reduced costs for small alcohol-producing businesses.

Brussels secures EU access to COVID-19 drug Remdesivir
The European Commission signed a contract with pharmaceutical company Gilead Tuesday to secure treatment doses of Veklury, the brand name for Remdesivir, for EU Member States and the UK.

EU looks to improve trade & investment relations with China
At a high-level virtual meeting Tuesday, the EU called on China to engage in trade reform and to remove barriers impeding access to the Chinese market for EU exporters and European investors.