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Britain’s May gets 9 billion pounds in China deals, Xi promises to build on ‘golden era’

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British Prime Minister Theresa May left China today with deals worth more than 9.3 billion pounds ($13.26 billion), at the end of a three-day trade mission where President Xi Jinping pledged to upgrade their “golden era” in relations. Britain, which is trying to reinvent itself as a global trading nation after Brexit, put China first on the list of countries that Britain wants to sign a free trade agreement with. China, for its part, sees Britain as an important ally in its call for more open global markets. Chinese investment is helping Britain develop infrastructure and create jobs, with some 50,000 British businesses importing goods from China and more than 10,000 sell their goods to China.

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Issues with European Questionnaire

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Minister of Foreign Trade and Economic Relations of BiH Mirko Šarović has stated that the country is currently facing issues with chapter 22 on regional cooperation of the European Questionnaire. conversations have been conducted in Banja Luka in the Government of Republika Srpska in order to define the responses of the participants in this process. Regarding the current implementation of the Stabilization and Association Agreement (SAA), Šarović pointed out that it has given some concern to the country especially with neighboring countries such as Croatia.

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Hybrid regime in BiH

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According to the 2017 survey of the “Index of Democracy” conducted by the British newspaper The Economist, BiH is classified into “hybrid regimes”. Ranking 101st out of 167, BiH has scored 4.87 out of 10. For the election process, BiH received a score of 6.5, for the functioning of the government 2.93, political participation 5, political culture 3.75 and social freedom 6.18. According to the analysis provided, BiH was placed in the same category as Turkey, Iraq, Ukraine, Nicaragua, Nepal, Mozambique and Bolivia.

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Montenegro: €30 million loans from World Bank

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The World Bank has approved a loan worth €30 million to finance the project of agricultural development MIDAS 2 that will increase the economic activity in rural areas as well as opening job positions. The final objective is that of improving the competitiveness of agriculture and fishery. The original project MIDAS started in 2009 has contributed to the reinforcement of institutions to provide support and services in the sectors of food safety, animal health, and rural development.

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Commercial relations with Israeli settlements in the West Bank

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The United Nations Human Rights Office said it had identified 206 companies that so far have commercial relations with Israeli settlements in the West Bank, where it claims that violations against Palestinians are “pervasive and devastating”. The report is politically sensitive because the companies mentioned by the UN could be targeted for boycotts or divestments aimed at strengthening the pressure on Israel and its settlements, which many countries regard as illegal. Most of these companies are based in Israel or its settlements (143), the second largest group in the United States (22), the rest in 19 other countries. The report, which did not indicate the companies claimed that the work in the database production on the companies will not involve a judicial process of any kind. The mandate of the UN office was only to identify the companies involved in the construction and surveillance of settlements, including transport services and banking and financial transactions that may raise human rights concerns. The violations associated with the settlement according to the report affect every aspect of Palestinian life, including freedom of religion, movement and education, as well as lack of access to land, water and livelihood.

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Germany: scandal about exhaust fumes tests on humans and animals reaches Volkswagen top managers

in ECONOMY/ENERGY/EUROPE by

The emissions scandal at Volkswagen will cost a high-ranking group manager the office. Thomas Steg, former spokesman for the Federal Government and today chief lobbyist of the automaker, is giving up his post for the time being. He had offered his release itself, said Volkswagen. The board had agreed to that on Tuesday. Steg was released as a general representative for the group “until the complete clarification of the events of his duties”. With his leave of absence pulls Volkswagen according to own data “first consequences” from the controversial exhaust gas tests, which were recently publicized. Nitrogen dioxide is the focus of the emissions issue. For years, Volkswagen had been manipulating diesel test results in the US in order to cover up the fact that the limits for harmful nitrogen oxides had been exceeded many times over. The group said it would continue to work on the investigation of the controversial emissions tests. “We are in the process of thoroughly examining the work and to draw all the necessary conclusions from it,” said Volkswagen CEO Matthias Müller. “Mr. Steg has declared to take full responsibility”.

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Russian soldiers invest in Berengo Palace

in AFRICA/ECONOMY/POLITICS by

The Russian strengths and the Central African armed forces settled down in the palace of the emperor declined Jean-Bedel Bokassa. A decision which displeases strongly the family of the deceased. In the middle of December on 2017, Moscow indeed announced that it would deliver weapons and would send instructors to the Central African armed forces at the beginning of 2018.

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Afghanistan: Trade Ties with Indonesia

in ECONOMY/MIDLE EAST by

Afghanistan and Indonesia will develop their trade relation in different industries. “Soon we are going to work on expanding trade relation with Indonesia and so it could pave the ground for export of dry and fresh Afghan fruits in the country”, said the Ministry Spokesman Musafer Qoqandi. According to the Minister of Commerce, the trade turnover between Kabul and Jakarta is about $350 million. “We can work with Indonesia as currently we have taken steps for importing vehicle’s tires, batteries and lubricants”, said Khan Jan Alokozai, Vice President of Afghanistan Chamber of Commerce and Industries (ACCI). Afghan economic analysts believe the government to should encourage the Indonesian businessmen to invest in Afghanistan. This comes as the Indonesian President Joko Widodo visited Kabul on Monday, where he meet President Ghani.

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The Central Bank aims to lower inflation

in ECONOMY/MIDLE EAST by

The Central Bank’s main goal this year is to increase the efficiency of monetary policies Governor Murat Çetinkaya told Reuters in an interview on Jan. 25. Çetinkaya, speaking by telephone from the World Economic Forum in the Swiss resort of Davos, said that the Bank will do any monetary policy steps to bring inflation down to single digits. Turkey’s annual inflation stood at 11.92 percent at the end of 2017, far above the Bank’s official target of 5 percent. “I want to emphasize again that we will maintain a tight monetary policy decisively until the inflation outlook displays a significant improvement, independent of base effects and temporary factors, and becomes consistent with the targets”, he added. But investors have been skeptical about the Bank’s ability to bring down inflation, because Turkey political authorities claim for for lower rates to fuel bank lending and boost the economy. Çetinkaya said the government’s fiscal policy was supportive of the Bank’s efforts to fight inflation. Deputy Prime Minister Mehmet Şimşek said he recognized that Turkey has an inflation problem and vowed that the government is taking the issue seriously.

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Investments between Tunisia and Saudi Arabia

in AFRICA/ECONOMY/POLITICS by

At the centre of the Tunisian-Saudi business council meeting we have the direct investment between Tunisia and Saudi Arabia and the possibility of developing joint investments as a strategic option that helps to penetrate other foreign markets Several Tunisian and Saudi business leaders took part in the meeting, both sides also addressed issues relating to the common concerns of economic operators in both countries. In particular, they noted that obstacles still hinder economic cooperation between the two countries and proposed to strengthen the awareness-raising and promotion activities of the two countries’ products. Mohamed Kooli, chairman of the Tunisian side of the business council who chaired the meeting jointly with Souleiman El Airi, chairman of the Saudi side, stressed in his speech that Tunisian-Saudi Arabian economic relations have not yet reached the excellent level of political relations and friendly relations between the two countries, emphasising the importance of intensifying the visits of businessmen from both countries to explore the opportunities of important investment opportunities for investors in multiple fields in both Tunisia and Saudi Arabia. For his part, El Airi said that Saudi Arabia attaches great importance to Saudi investments in Tunisia, adding that many Saudi projects have been carried out in Tunisia since the 1970s. He stressed that Saudi businessmen aspire to make new investments in Tunisia.

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