Business

MUNICH (Germany), Feb 17 (NNN-AGENCIES) — France has warned Britain to expect a bruising battle with the EU in post-Brexit trade negotiations.

French foreign minister Jean-Yves Le Drian predicted the two sides would “rip each other apart” as they strove for advantage in the negotiations.

He also said it would be tough for the UK to achieve its aim of agreeing a free trade deal by the end of the year.

The UK government said it wanted a deal based on “friendly co-operation between sovereign equals”.

16 Feb 2020; MEMO: Turkish and northern Cypriot officials met on Saturday in an abandoned town wrecked by war to discuss potentially re-opening the area after 46 years, a move that Ankara said was a “historic” opportunity to bring tourism and economic benefits, reported Reuters.

Maras, previously known as Varosha, a southern suburb of Famagusta, has been fenced off and abandoned since Turkey invaded northern Cyprus after a Greek-inspired coup in 1974.

New Delhi, Feb 16 (PTI) Power producers' total outstanding dues owed by distribution firms jumped nearly 50 per cent to Rs 88,177 crore in December 2019 over the same month previous year, reflecting stress in the sector.

Distribution companies (discoms) owed a total of Rs 59,015 crore to power generation companies in December 2018, according to portal PRAAPTI (Payment Ratification And Analysis in Power procurement for bringing Transparency in Invoicing of generators).

Panaji, Feb 15 (PTI) President Marcelo Rebelo de Sousa of Portugal arrived in Goa on Saturday on a two-day visit, during which his country and the state government will sign an MoU on augmenting water supply and sewerage management.

He was welcomed at the international airport here by troupes performing traditional dances, and feted at Chicalim and Sirodao villages by local residents, officials said.

MUSCAT, Feb 16 (NNN-ONA) – Oman’s daily crude exports decreased by 17.88 percent month on month in Jan, to 756,586 barrels, said an official report, issued Saturday.

The country’s daily production of crude oil in Jan also decreased by 1.26 percent to 958,270 barrels, said the monthly report of the Omani Ministry of Oil and Gas.

However, China’s crude imports from Oman increased in Jan, the report noted.

As the largest importer of Omani oil, China imports 80 to 85 percent of the Omani oil exports.

PARIS, Feb 16 (NNN-AGENCIES) – European aircraft producer, Airbus, said that, the United States government’s decision to increase tariffs on aircraft imported from the European Union (EU), further escalates trade tensions between the U.S. and the EU.

The decision of the Office of U.S. Trade Representative (USTR), “further escalates trade tensions between the U.S. and the EU, thereby creating more instability for U.S. airlines, that are already suffering from a shortage of aircraft,” said the European plane maker in a statement.

15 Feb 2020; MEMO: It looks as though the Gulf monarchies are seeking to bring their three-year long feud to an end. Signs of thawing acrimony have  been in the offing for some time with several overtures from both sides, but there has been little to no concrete success. This may be about to change.

15 Feb 2020; MEMO: Turkish President Tayyip Erdogan on Friday said he would help Pakistan stay off a terrorism financing blacklist at a meeting of a global finance watchdog, a move he suggested would counter “political pressure” from Islamabad’s critics, reports Reuters.

The Financial Action Task Force (FATF), which tackles money laundering, told Islamabad late last year that it could face blacklisting if it continued to apply inadequate controls over terrorism financing.

15 Feb 2020; MEMO: Global ecommerce company Amazon has been accused of discriminating against Palestinians by offering free shipping to illegal settlements in the occupied West Bank but not to Palestinians living in the same area.

ATHENS, Feb 15 (NNN-Xinhua) — The European Investment Bank (EIB) will channel billions of euros this year to Greece to assist the recovery of its economy, the lender’s president Werner Hoyer said.

Last year the EIB committed funds of 2 billion euros to credit lines for various projects in Greece, and the lender is about to sustain its contribution this year.

“We will not go below this level, as Greece has a high level of ambition,” Hoyer, who is on a two-day visit in Athens, at a press conference with Greece’s Minister of Rural Development and Food Makis Voridis.