Business

ZAGREB, Feb. 5 (Xinhua) -- Greece will support Croatia's entry into the Schengen area as soon as possible, and next year will be crucial when Croatia assumes the EU Presidency, Greek President Prokopis Pavlopoulos said here on Tuesday as he started a two-day official visit to Croatia.

Croatian President Kolinda Grabar-Kitarovic stressed Greece's significant role in managing the migration crisis, saying it plays the role of Europe's first border guard.

New Delhi, Feb 5 (PTI) The government's push to provide clean cooking fuel to every household has turned India into the world's second largest LPG consumer whose demand is projected to rise 34 per cent by 2025, Oil Secretary M M Kutty said Tuesday.

Speaking at the Asia LPG Summit here, he said active LPG consumers have grown at a compounded annual growth rate (CAGR) of 15 per cent - from 14.8 crore in 2014-15 to 22.4 crore in 2017-18.

5 Feb 2019; DW: A study published Tuesday by consultancy EY shows that China's mergers and acquisitions in Europe dipped by 21 percent last year with a total of 196 M&A deals registered in 2018.

In Germany alone, the number of investment deals sank from 54 to 35 last year.

5 Feb 2019; DW: Germany's economy minister, Peter Altmaier, on Tuesday officially launched a controversial plan aimed at developing the country's industrial sector and increasing its international competitiveness in technology and innovation.

Though it was the first time Altmaier fully detailed the "National Industry Strategy 2030," some key points had previously been revealed to the German media the previous week, prompting the minister to take the defensive against claims of protectionism and intrusive state intervention.

6 Feb 2019; DW: US President Donald Trump urged unity in his second State of the Union address on Tuesday against a backdrop of deep partisan bickering over a host of issues that are set to dominate his next two years in office.

Despite repeatedly clashing with Democrats who now control the House of Representatives, Trump urged Washington to govern "not as two parties, but as one nation." 

ISTANBUL; 05 Feb 2019; AA: Turkey will provide around $5 billion in loans for the reconstruction of Iraq, the foreign minister said on Sunday.

“We made the biggest commitment to Iraq,” Mevlut Cavusoglu told a meeting organized by the Beyoglu Municipality in Istanbul.

“We will provide $5 billion credit,” Cavusoglu said, adding Turkish business people will utilize this loan for their projects in Iraq.

CARACAS, 05 Feb 2019; AA: U.S. sanctions on Venezuelan oil company PDVSA will affect the global market negatively, the oil minister said Monday.

In an interview aired by private broadcaster Televen, Manuel Quevedo, also president of the oil company, commented on U.S. sanctions imposed last week on PDVSA and its U.S. subsidiary Citgo.

Quevedo said US sanctions and trade wars will affect oil prices in 2019.

ANKARA; 05 Feb 2019; AA: The era of Turkey taking out loans from the IMF is long since gone, said the Turkish president on Tuesday.

"Turkey closed its IMF chapter in May 2013 and, God willing, it will not be re-opened," Recep Tayyip Erdogan told the parliamentary group of his ruling Justice and Development (AK) Party.

LONDON (AP) — A closely watched survey shows that the British economy is not far away from shrinking amid intensified Brexit uncertainties.

Financial information firm IHS Markit said Tuesday that its “all-sector” purchasing managers’ index dipped to 50.3 points in January from 51.5 the previous month. Were it to fall below 50, it would be indicating a fall in output.

05 Feb 2019; DW: Germania had "no other option" but to file for bankruptcy following financial trouble, the airline's CEO Karsten Balke said on Tuesday.

The Berlin-based company cancelled all flights and advised passengers to contact their travel agents about alternative arrangements.

People who bought their tickets directly from the company "unfortunately have no claim to alternative trips," the company said.