EU to extend sanctions on Russia for six months

December 16, 2016

EU has agreed to extend economic sanctions on Russia for another six months at the one-day summit held in Brussels. The main reason for extending sanctions was Russia’s failure to abide by the Minsk agreements on Ukraine. This decision has been taken amid growing pressure from investors and energy interests...

‘Brexit’ added to Oxford English Dictionary

December 16, 2016

The word ‘Brexit’ has been added to the Oxford English Dictionary. It was one among the 1,500 new words added to the Oxford English Dictionary this week. The dictionary has defined Brexit as: “The (proposed) withdrawal of the United Kingdom from the European Union, and the political process associated with...

China launches WTO dispute resolution case against US, EU

December 13, 2016

China has launched a dispute resolution case against US and EU at the World Trade Organisation regarding the surrogate country approach followed by the US and EU to calculate anti-dumping measures against exports from China. When China joined the WTO in 2001, it accepted to allow WTO members to treat it as...

Italy’s PM Matteo Renzi announces resignation

December 7, 2016

Italian Prime Minister Matteo Renzi has tendered his resignation after being roundly defeated in a referendum to make changes in the Constitution. Renzi announced his resignation taking full responsibility for the ‘extraordinary defeat’. This pushed the third largest Euro economy into uncertainty. Financial markets gave a sharp reaction as...

EU reaches deal to curb funding of conflict minerals

November 24, 2016

The European Union has concluded a deal to stem the flow of gold and other metals used for funding of armed conflicts or produced in conditions that violated human rights. EU importers of minerals like tin, tungsten, tantalum, gold and their ores have to mandatorily conduct checks on their...