HCLSoftware introduces Domino IQ, a sovereign AI extension to its Domino platform
Users of the HCL Domino platform leverage powerful AI to automate tasks, analyse data, and more, by choosing the models that their organization or trusted sources have built. With compliance measures such as the European AI Act aimed at shaping the development and use of artificial intelligence within the EU, Domino IQ enables organizations to have more fine-grained control over AI investments and, additionally, remove their reliance on foreign cloud-based services.
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Time of India
an hour ago
- Time of India
Qatar threatened to cut EU LNG supplies over sustainability law
Qatar has threatened to cut gas supplies to the European Union in response to the bloc's due diligence law on forced labour and environmental damage, a letter from Qatar to the Belgian government, seen by Reuters, showed. Qatar is the world's third-largest exporter of liquefied natural gas (LNG), after the United States and Australia. It has provided between 12 per cent and 14 per cent of Europe's LNG since Russia's 2022 invasion of Ukraine. In a letter to the Belgian government dated May 21, Qatari Energy Minister Saad al-Kaabi said the country was reacting to the EU's corporate sustainability due diligence directive ( CSDDD ), which requires larger companies operating in the EU to find and fix human rights and environmental issues in their supply chains. "Put simply, if further changes are not made to CSDDD, the State of Qatar and QatarEnergy will have no choice but to seriously consider alternative markets outside of the EU for our LNG and other products, which offer a more stable and welcoming business environment," said the letter. A spokesperson for Belgium's representation to the EU declined to comment on the letter, which was first reported by German newspaper Welt am Sonntag. The European Commission also received a letter from Qatar, dated May 13, a Commission spokesperson told Reuters, noting that EU lawmakers and countries are currently negotiating changes to the CSDDDD. "It is now for them to negotiate and adopt the substantive simplification changes proposed by the Commission," the spokesperson said. Brussels proposed changes to the CSDDD earlier this year to reduce its requirements - including by delaying its launch by a year, to mid-2028, and limiting the checks companies will have to make down their supply chains. Companies that fail to comply could face fines of up to 5 per cent of global turnover. Qatar said the EU's changes had not gone far enough. In the letter, Kaabi said Qatar was particularly concerned about the CSDDD's requirement for companies have a climate change transition plan aligned with preventing global warming exceeding 1.5 celsius - the goal of the Paris Agreement. "Neither the State of Qatar nor QatarEnergy have any plans to achieve net zero in the near future," said the letter, which said the CSDDD undermined countries' right to set their own national contributions towards the Paris Agreement goals. In an annex to the letter, also seen by Reuters, Qatar proposed removing the section of CSDDD which includes the requirement for climate transition plans. Kaabi is also chief executive of QatarEnergy. Qatar Energy gas has long-term supply contracts with major European companies, including Shell, TotalEnergies and ENI.
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First Post
2 hours ago
- First Post
Can US, EU actually reach a trade deal? Trump says there's '50/50 chance or maybe less'
Brussels and Washington are reportedly nearing a potential agreement that could involve a 15 per cent US tariff on EU goods, with possible exemptions for key sectors read more US President Donald Trump sips Diet Coke from his wine glass after a toast, during a luncheon for world leaders at the 73rd session of the United Nations General Assembly in New York, US, September 25, 2018. File Image/Reuters US President Donald Trump on Friday (July 25) stated there was roughly a '50/50 chance, maybe less' of reaching an agreement with the European Union to lower import tariffs, as he spoke to reporters before departing the White House for Scotland. Trump, aiming to reduce US trade deficits, has threatened punitive tariff increases on numerous countries unless they secure trade deals with Washington by August 1. '90 deals in 90 days' His administration launched a '90 deals in 90 days' initiative in April, postponing higher duties, but has so far announced only five agreements, including with Britain, Japan, and the Philippines. 'I would say that we have a 50/50 chance, maybe less than that, but a 50/50 chance of making a deal with the EU,' Trump remarked. STORY CONTINUES BELOW THIS AD The EU's 27 member states have tasked the European Commission with negotiating to avoid steep US tariffs, with Trump warning of 30 per cent levies if no deal is reached by the end of the month. According to multiple diplomats, Brussels and Washington are nearing a potential agreement that could involve a 15 per cent US tariff on EU goods, with possible exemptions for key sectors. EU readies retaliatory sanctions package However, on Thursday, EU states approved a retaliatory package targeting $109 billion (93 billion euros) of US goods, set to take effect on August 7 if negotiations fail. Trump claimed that most of the trade deals he sought were nearly finalised, though he clarified that his focus was on sending letters to impose tariffs on trading partners, not on negotiating comprehensive free trade agreements. He noted that tariffs, paid by importers rather than the exporting country, effectively act as a sales tax passed on to US consumers. 'I don't want to hurt countries, but we're going to send a letter out some time during the week, and it's basically going to say, 'You're going to pay 10 percent, you're going to pay 15 percent, you're going to pay maybe less,' I don't know,' Trump explained. He added that his negotiators were working 'diligently' with EU counterparts but expressed frustration with Canada, threatening a 35 per cent tariff and stating, 'we haven't really had a lot of luck' in those talks. Trump also mentioned that the US and China, its third-largest goods trading partner this year, have the 'confines of a deal' in place. STORY CONTINUES BELOW THIS AD
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Business Standard
2 hours ago
- Business Standard
India-US trade deal will be a game changer for investors: Arvind Panagariya
The proposed trade agreement between India and the United States could be a major breakthrough for India's investment climate, said Arvind Panagariya, chairman of the 16th Finance Commission. The deal, currently under negotiation, is expected to significantly liberalise India's trade regime and enhance the country's attractiveness for global investors, he said. 'This will be a big shot in the arm,' Panagariya stated during an interaction hosted at the Consulate General of India in New York this week. Agreement with EU likely to follow US deal Panagariya expressed optimism that the India-EU trade agreement would follow closely on the heels of the US deal. 'Once the India-US trade deal happens, the one with the European Union will also fall into place conveniently,' he said. 'These are the two largest markets. For any future investor, having open access to both will make India an extremely attractive destination.' The economist emphasised that reduced trade friction with the US and the EU would be a game changer, significantly lowering barriers for foreign companies looking to invest in or trade with India. Tariff cuts and liberalisation on the cards Regarding tariffs, Panagariya noted that the agreement would likely involve India lowering some of its duties. 'Potentially, a lot of good can come out of it. India will be reducing its tariffs as part of the process, which in itself is a tremendous opportunity,' he said. Panagariya said the most significant outcome of the trade deal would be domestic liberalisation. Improved access to the US market over competing nations would also be a major advantage. Trump administration signals deal is close US President Donald Trump has repeatedly stated that a trade agreement with India is imminent. As recently as last week, he remarked, 'We're very close to a deal with India, where they open it up.' He has reportedly set August 1 as a deadline for several countries, including India, to finalise trade agreements or face increased tariffs. Trade figures and future targets According to the latest figures, total goods trade between the US and India stood at $129.2 billion in 2024. US goods exports to India reached $41.8 billion, marking a rise of 3.4 per cent ($1.4 billion) from 2023. Meanwhile, goods imports from India totalled $87.4 billion, up 4.5 per cent ($3.7 billion) from the previous year. The resulting trade deficit stood at $45.7 billion. India and the US have also announced a new ambition, dubbed 'Mission 500,' which aims to more than double the bilateral trade to $500 billion by 2030. (With inputs from PTI, agencies)
