Pharmexcil sees $1.2 billion export hit from EU ban

Last Updated: Monday, July 27, 2015, 18:39

India's business loss arising from the European Union's ban on 700 generic drugs is likely to be around USD 1.2 billion, says industry body Pharmexcil.

EU bans 700 generic drugs for manipulation of trials by GVK

Last Updated: Saturday, July 25, 2015, 14:26

The European Union has banned the marketing of around 700 generic medicines for alleged manipulation of clinical trials conducted by India's pharmaceutical research company GVK Biosciences.

EU-IMF team due in Athens `in coming days`

Last Updated: Friday, July 24, 2015, 23:34

Representatives from Greece`s international creditors are due in Athens in the coming days, the European Commission said, with sources saying logistical issues had pushed back an expected arrival date of Friday.

''Brexit'' fears haunt London's roaring trade in euros

Last Updated: Wednesday, July 22, 2015, 21:23

The capital of euro trading prospers outside the euro zone, but London`s dominance of the $5.3 trillion-a-day foreign exchange market could wane if Britain left the European Union.

Greece bailout deal by mid-August: EU`s Moscovici

Last Updated: Wednesday, July 22, 2015, 21:08

Greece and its creditors aim to finalise a deal for the country`s third bailout by mid-August in time for Athens to make a huge payment to the ECB, EU Economic Affairs Commissioner Pierre Moscovici said Wednesday.

EU orders France's EDF to repay huge tax break

Last Updated: Wednesday, July 22, 2015, 19:10

The EU ordered France`s electricity giant EDF to repay the French state 1.37 billion euros ($1.5 billion) in back taxes on Wednesday, in a case dating from 1997.

India, EU likely to restart FTA talks on Aug 28

Last Updated: Tuesday, July 21, 2015, 21:45

After a gap of about two years, India and the European Union are expected to resume negotiations on August 28 on the proposed free trade agreement (FTA) to boost two-way commerce and investment.

Banks to reopen, taxes hiked as Greece prepares to reboot economy

Last Updated: Monday, July 20, 2015, 08:57

Greek banks prepared to reopen Monday after a three-week shutdown, but capital controls remained largely in place while citizens also face widespread price hikes.

Greek parliament to vote on controversial bailout

Last Updated: Wednesday, July 15, 2015, 12:01

Greece on Wednesday geared up for a parliamentary vote on draconian reforms demanded by eurozone creditors in exchange for a huge new bailout, in what could be Prime Minister Alexis Tsipras's toughest political test yet.

Critics on left and right slam Greece debt 'coup'

Last Updated: Tuesday, July 14, 2015, 00:24

Politicians on the far left and right accused European powers of negotiating with a "gun to the head" of Greece and terrorising and colonising it through Monday`s new debt deal.

IMF `ready to work with Greece, EU`

Last Updated: Tuesday, July 14, 2015, 00:09

The International Monetary Fund said it stands is prepared to work with Greece and European Union partners to advance the third bailout effort for the country agreed early Monday.

Disappointed with lack of progress in IMF quota reforms: EU

Last Updated: Tuesday, July 14, 2015, 00:08

European Union Monday expressed disappointment over the non-implementation of IMF quota reforms, which would give India and other major emerging economies greater say in the multilateral lender.