The European Parliament (EP) on Thursday proposed increasing fishing sector aid up to EUR 100,000 (from 30.000 EUR) per vessel, instead of per company – as is the case today - in order to alleviate the effect of rising fuel prices.
European Union leaders have agreed to a 3-month study to find ways of cushioning the impact of soaring energy prices on the region's citizens. At an energy summit in Brussels, ministers discussed plans to ease the pain of record oil and gas prices on consumers and companies.

Gibraltar's Chief Minister Peter Caruana 13th appearance before the United Nations General Assembly Special Committee of 24 was his last. In a dramatic turn of events on Wednesday he robustly indicated that it was pointless to keep returning because the Committee of 24 had never acted on Gibraltar's behalf but had always chosen and continued to be silent.
China, the world's second-largest consumer of oil, is to raise the price of petrol and diesel by 18%. The move, which could depress demand for oil from the fast-growing economy, caused the price of crude to fall 4 US dollars.
European Union leaders meeting in Brussels refused to set a deadline for a deal on the stalled Lisbon Treaty after its rejection by the Irish and insisted that real issues as Europe's economic situation are the priority.
The top United Nations human rights official has hailed the adoption of a new legal instrument which will enable people to submit complaints on violations of their economic, social and cultural rights to an international human rights body.
British Parliament has effectively ratified the EU Lisbon reform treaty despite the recent decision by Irish voters to reject it. A last-ditch Tory bid to delay the process for four months was defeated by a margin of 93, and peers later gave the EU Amendment Bill a third reading.
European Central Bank Executive Board member Juergen Stark said the acceleration in Euro zone inflation to 3.7% in May, the highest rate recorded since the launch of the Euro is a cause for alarm.
The European Parliament adopted on Wednesday tough rules on expelling illegal immigrants, which could see them held in custody for up to 18 months and banned for five years if they resist. 367 members of the European Parliament voted in favor of the bill and 206 MEPs opposed it, while 109 members abstained.
Bank of England Governor Mervyn King has warned that inflation could rise above 4% this year as oil and energy prices soar. In an open letter to the Chancellor after official inflation hit 3.3%, Mr King said he had revised previous forecasts upwards due to a 15% rise in oil prices during the past month and the prospect of higher gas and electricity bills.