Britain calls on EU to move Brexit talks forward

The trading platform I used to operate 23 hours a day with the software mt4. It attracts investors through leverage; if an investor is wise enough, the leverage will be their advantage, bringing profits when they have good luck. But the wise investor will never be distracted by the leverage. At that time I owned a struggling printing workshop. I had to sweat day and night for peanuts. I was looking for a way out when an old friend of mine appeared, introducing me to a trading platform where I could buy and sell gold. I was guaranteed to make a 20 per cent monthly, stable and riskless profit, he said. How lucrative, I said! My friend told me to transfer him some money and he would take care of the rest. I eagerly transferred one hundred million đồng to his account. But I lost it all only in a few days. He said that it was a temporary loss. There would be more opportunities once you have more money, he stressed. So I transferred another two hundred million đồng hoping to retrieve the loss. But the money did not return. Looking back, I was throwing bad money after good but at the time, I was hooked. I transferred more and more money and within two weeks I had withdrawn all my savings and borrowed from friends. I had been a complete failure. My childhood friend advised me to go back to my old job. I could not…... [read more]

Despite disconcerting global political events causing turmoil and affecting capital flows around the world, Vietnam remains an attractive investment destination-albeit in need of a greater push to overtake last year’s stellar performance. Le Viet Anh Phong, head of Financial Advisory Services at Deloitte Vietnam, talked with Khanh Linh about what could provide this much-desired push and how domestic companies can increase their chances of bagging mergers and acquisitions. What do you think about the mergers and acquisitions (M&A) trends in Southeast Asia and particularly Vietnam in the future? 2016 was peppered by unsettling global developments, with Brexit, the US election, and the slow recovery of oil prices. In the first six months of 2017, we have witnessed the return of many investors from Europe and North America into Southeast Asia. Together with investors from other Asian developed countries, such as Japan, South Korea, and China, among others, they have made Southeast Asia one of the most vibrant M&A markets in the Asia-Pacific region. Vietnam, in particular, continues to be an attractive M&A destination. Though transaction values in the first six months show no signs of a breakthrough, the market is still very busy with a myriad of M&A transactions focusing on small- and medium-sized enterprises. If the larger deals, such as Sabeco, Habeco, Vinamilk, Airports  Corporation of Vietnam, and PV Oil, “detonate” as scheduled, the Vietnamese M&A market in 2017 may completely overtake the record of…... [read more]

Volatility eased as traders focused on the world economy and corporate earning figures after a week dominated by the dramatic increase in tensions over North Korea triggered a global sell-off before prices bounced back Monday. Calm returned to Asian markets Wednesday, with equities stabilising after a two-day rally, as the dollar strengthened on encouraging US economic data. Volatility eased as traders focused on the world economy and corporate earning figures after a week dominated by the dramatic increase in tensions over North Korea triggered a global sell-off before prices bounced back Monday. The greenback rose after official figures showed US consumers splurged in July, with retail data spurred by strong auto and department store sales. However, Wall Street finished little changed as the strong statistics were offset by some disappointing earnings reports. The Nikkei, which recovered Tuesday after finishing at its lowest level for more than three months Monday, was flat by the break, even as the weakening yen boosted exporters, while Hong Kong was higher in morning trade. Seoul, which was closed Tuesday for a public holiday, gained ground by midday. "Volatility declined on international markets ... with US stock markets returning to their moribund state," said Ric Spooner, an analyst at CMC Markets in Sydney. "This has provided a neutral lead for the local market where the main focus will be on the profit reporting season." However, Shanghai was down as traders digested a warning from the IMF Tuesday that China's massive debt is on a "dangerous"…... [read more]

LONDON: Britain said on Tuesday (Aug 15) it would seek a "temporary customs union" with the European Union after Brexit, in an opening gambit for trade negotiations that received a cool response from Brussels. Britain's membership of the EU customs union precludes it from striking its own trade deals. (Photo: AFP/Daniel Leal-Olivas) The government proposed to continue for around two years the kind of tariff-free arrangements that apply now to EU-UK trade in goods, to give businesses more time to adapt to new post-Brexit systems. But unlike under the current customs union, London said it wanted to be able to negotiate free trade agreements with non-EU countries during the interim period, which would then be implemented afterwards. Brexit minister David Davis told BBC radio it was "sensible" to have a "shortish period in which we maintain the current arrangements", lasting "something like two years". The proposal was welcomed by the Confederation of British Industry, Britain's big business lobby group, but critics dismissed it as "fantasy". Britain has said it will leave the EU customs union and single market - its largest trading partner - when it leaves the bloc in March 2019, but wants trade to continue as smoothly as possible. The European Commission, the EU's executive arm, said on Tuesday that it would "take note" of the proposals, but warned: "'Frictionless trade' is not possible outside the single market and…... [read more]

Britain will propose setting up an interim customs agreement with the European Union after Brexit to allow the freest possible trade of goods. But it will also seek the right to negotiate other trade deals, a possible sticking point in the talks. According to excerpts of a government document to be published on Tuesday setting out Britain's strategy, the government will say one option to minimize friction when it leaves the bloc in March 2019 would be to introduce a temporary customs union which should be "time-limited". That would provide certainty for businesses, the government said, aiming to address a main concern of companies who fear the introduction of customs checks will cause expensive delays. "Ministers will announce an intention to seek an 'interim' period with the EU of close association with the customs union that would allow for a smooth and orderly transfer to the new regime," the government said in a statement ahead of publication of the first in a series of "future partnership papers". "One possible approach would be a temporary customs union between the U.K. and the EU ... During this interim period, which will be negotiated with Brussels, Britain will look to negotiate bold new trade relationships around the world." Businesses welcomed the proposals, but the Confederation of British Industry also warned the government that "the clock is ticking and what matters now if giving companies the confidence to continue investing as quickly as possible". Prime Minister Theresa May and her government are keen…... [read more]

Emmanuel Macron, the 39-year-old former investment banker who was catapulted to the French presidency in May, faces widespread disillusionment as he prepares to mark his first 100 days in office. The man shown walking on water on the cover of The Economist magazine after his startling rise has seen his approval ratings nosedive, with only 36 percent of respondents giving him the thumbs up in one recent poll. The French are "falling out of love" with Macron, the right-leaning daily Le Figaro headlined Sunday. No French president has seen such a steep drop in popularity so early in his rule since Jacques Chirac in 1995. Macron, who shot to power on May 7 promising to overcome France's entrenched right-left divide, has since come under fire for his labor reform program, budget and public spending cuts as well as a plan to create an official First Lady position for his 64-year-old wife Brigitte. France's youngest ever president is especially out of favor with civil servants after vowing to put a brake on their salary increases. Macron "must come down to earth and assume the political cost of his decisions," leading pollster Jerome Fourquet told AFP. Proposed defense cuts -- part of a plan to trim 4.5 billion euros ($5.3 billion) to bring France's budget deficit within EU limits -- led to a public row last month with the head of the French armed forces, General Pierre de Villiers. 'Honeymoon is over' Macron rebuked him for questioning the wisdom of cuts…... [read more]

A scandal involving eggs contaminated with insecticide spread to 15 EU countries, Switzerland and as far away as Hong Kong on Friday as the European Commission called for a special meeting on the growing crisis. Ministers and food safety chiefs from around the European Union are set to meet on September 26 in a bid to get countries to stop "blaming and shaming" each other over the scare involving the chemical fipronil. Millions of eggs have been pulled from supermarket shelves across Europe and dozens of poultry farms closed since the discovery of fipronil, which can harm human health, was made public on August 1. The issue has sparked a row between Belgium, the Netherlands and Germany, the three countries at the epicenter of the crisis, about how long they knew about the problem. "Blaming and shaming will bring us nowhere and I want to stop this," Vytenis Andriukaitis, the European Commissioner for health and food safety, told AFP as he announced the meeting. "We need to work together to draw the necessary lessons and move forward instead." European Commission spokeswoman Mina Andreeva said that "this is not, let's be clear, a crisis meeting" and it is being held next month to get "distance to the events". Fipronil is commonly used to get rid of fleas, lice and ticks from animals but is banned by the European Union from use in the food industry. The EU insists there is no threat to human health, but the World Health Organization…... [read more]

BRUSSELS: A scandal involving eggs contaminated with insecticide spread to 15 EU countries, Switzerland and as far away as Hong Kong on Friday (Aug 11) as the European Commission called for a special meeting on the growing crisis. At least 11 countries in Europe have found eggs contaminated with the chemical fipronil since the scare emerged on August 1. (Photo: AFP/KRISTOF VAN ACCOM) Ministers and food safety chiefs from around the European Union are set to meet on September 26 in a bid to get countries to stop "blaming and shaming" each other over the scare involving the chemical fipronil. Millions of eggs have been pulled from supermarket shelves across Europe and dozens of poultry farms closed since the discovery of fipronil, which can harm human health, was made public on Aug 1. The issue has sparked a row between Belgium, the Netherlands and Germany, the three countries at the epicentre of the crisis, about how long they knew about the problem. "Blaming and shaming will bring us nowhere and I want to stop this," Vytenis Andriukaitis, the European Commissioner for health and food safety, told AFP as he announced the meeting. "We need to work together to draw the necessary lessons and move forward instead." European Commission spokeswoman Mina Andreeva said that "this is not, let's be clear, a crisis meeting" and it is being held next month to get "distance to…... [read more]

LONDON: Britain is prepared to pay up to €40 billion (US$47.1 billion) to the European Union to settle its accounts when it leaves the bloc, the Sunday Telegraph newspaper reported. British multinationals have delivered upbeat earnings as Brexit looms AFP/Daniel LEAL-OLIVAS It is the first time the British side has put a figure on its so-called Brexit bill - although the sum falls well short of the €100 billion sum discussed in Brussels. The newspaper report, based on unnamed government sources, said Britain would pay this only if the EU agrees to negotiate the settlement as part of a deal on future relations, including trade. Brussels has said progress must be made on the divorce bill, as well as the rights of European citizens living in Britain and the Irish border issue, before any talks can start on a free trade agreement. British officials are looking at proposing a transition deal where Britain would continue to make net payments to the EU of 10 billion euros a year for up to three years after it leaves in March 2019, the Telegraph said. This money, paid in return for continued access to Europe's single market, would be a "partial down-payment" on the final bill. The EU's chief negotiator, Michel Barnier, has declined to publicly name a sum for Britain's divorce bill, which includes its share of EU spending projects already agreed, as well…... [read more]

Britain is prepared to pay up to 40 billion euros ($47 billion) as part of a deal to leave the European Union, the Sunday Telegraph newspaper reported, citing three unnamed sources familiar with Britain's negotiating strategy. The European Union has floated a figure of 60 billion euros and wants significant progress on settling Britain's liabilities before talks can start on complex issues such as future trading arrangements. The government department responsible for Brexit talks declined to comment on the Sunday Telegraph article. So far, Britain has given no official indication of how much it would be willing to pay. The newspaper said British officials were likely to offer to pay 10 billion euros a year for three years after leaving the EU in March 2019, then finalize the total alongside detailed trade talks. Payments would only be made as part of a deal that included a trade agreement, the newspaper added. "We know (the EU's) position is 60 billion euros, but the actual bottom line is 50 billion euros. Ours is closer to 30 billion euros but the actual landing zone is 40 billion euros, even if the public and politicians are not all there yet," the newspaper quoted one "senior Whitehall source" as saying. Whitehall is the London district where British civil servants and ministers are based. A second Whitehall source said Britain's bottom line was "30 billion euros to 40 billion euros" and a third source said Prime Minister Theresa May was willing to pay "north of…... [read more]




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