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Author Archives: Sahar

David Cameron to publish EU referendum bill one day after Queen’s speech

BRUSSELS: David Cameron is to signal his determination to press ahead with the referendum on Britain’s European Union membership by publishing the parliamentary bill, which will pave the way for the vote, a day after the Queen’s speech next week. The prime minister, who will chair the first political cabinet of the new parliament on Tuesday, will try to reassure ... Read More »

JinkoSolar Holding Co supplying 50 megawatts of panels for Turkey project

ANKARA: JinkoSolar Holding Co., a Chinese module maker, agreed to supply panels with 50 megawatts of capacity to a power plant in Turkey. JinkoSolar will deliver the modules to Tegnatia, a joint venture between Turkey’s T Dinamik Energy Industry & Foreign Trade Co. and Egnatia Group of Greece, the Shangrao, China-based company said Monday in a statement. Terms weren’t disclosed. ... Read More »

EU increasing pressure on US to include energy chapter in trans-Atlantic deal

ROME: The European Union is increasing pressure on Washington to include an energy chapter in a planned trans-Atlantic trade deal that would allow US exports of natural gas and oil and reduce the bloc’s dependency on Russia. In an interview with The Wall Street Journal, Maros Sefcovic, the EU’s energy chief, said that easing flows of liquefied natural gas and ... Read More »

MasterCard Inc. to face antitrust complaint over fees

ROME: MasterCard Inc. is poised to receive an antitrust complaint from European Union watchdogs probing card-payment fees, according to three people with knowledge of the case. Regulators may send a statement of objections to MasterCard before the end of July, said the people, who asked not to be named because the case isn’t public. Such filings in antitrust probes are ... Read More »

Shell re-opens Trans Nigeria pipeline to feed Bonny Light crude oil to export terminal

AMSTERDAM: Shell re-opened the Trans Nigeria pipeline that feeds Bonny Light crude oil to the export terminal, a spokeswoman said. The pipeline, which has the capacity to carry 180 000 barrels of crude oil per day, was closed on May 12 following a leak caused by attempted theft. There were four to six days of delays on the pipeline, traders ... Read More »

EU ministers to launch Mediterranean naval mission to tackle migrant crisis

BERLIN: EU ministers have agreed to launch a sea and air mission that could in its later phases destroy vessels used by human traffickers, which have carried an estimated 1,800 migrants to their deaths in the Mediterranean this year. An unintended consequence of this mission is that it may even lead to more deaths Michael Diedring An intelligence-gathering operation will ... Read More »

Banking Group PLC, EU approves Sabadell’s $2.66b takeover of TSB banking group

BERLIN: European Union regulators said they had approved Banco de Sabadell SA’s £1.7 billion ($2.66 billion) takeover of TSB Banking Group PLC, in a move that allows Lloyds Banking Group PLC to fulfill a key condition of its EU-sanctioned restructuring plan. The European Commission, the bloc’s top antitrust authority, said the deal raised no concerns because of the companies’ “moderate ... Read More »

EU new car registrations up considerably in April

BRUSSELS: There’s been a surge in new car registrations in major European markets, providing another sign that the Continent is on the mend economically. Most recent gains were logged by EU’s problem children. Car sales measured by the number of new vehicles registered went up considerably in the European Union in April. The European Automobile Manufacturers Association (ACEA) on Tuesday ... Read More »

EU executive to present plan for leaner lawmaking

BRUSSELS: The European Union executive will present proposals to streamline how EU law is made, in a bid to defuse growing hostility from voters and complaints from business about regulatory red tape. A draft seen by Reuters of a plan from European Commission deputy head Frans Timmermans suggests making the European Parliament and member states carry out more cost-benefit analysis ... Read More »

20.5% increase expected in number of childcare enrollment by Dec 2014

BRUSSELS: The number of children of working parents enrolled in childcare increased by 20.5% in December 2014. An increase to 25.6% is expected by the end of this year. The statistics were revealed at The Mutual Learning Programme conference, entitled ‘Making Work Pay for Mothers’. The conference was attended by various representatives from ten key countries including Bulgaria, Czech Republic, Estonia, ... Read More »

Irish consumers spend record €28bn on their Visa cards in 2014

DUBLIN: Irish consumers spent a record €28.4 billion on their Visa cards in 2014, an increase of 32 per cent on 2013, as online shopping rose to almost €5.6 billion. According to Visa, the record expenditure reflects the continued shift by Irish consumers from cash and cheques to electronic payments; the introduction of new payments technologies such as Visa Personal ... Read More »

UK banks asked to rewrite employment contracts of staff getting top-up payment

LONDON: The UK’s banks have been told by the Bank of England that they need to rewrite the employment contracts of hundreds of staff receiving top-up payments alongside their salaries because of the European Union’s bonus cap. Andrew Bailey, deputy governor of the Bank of England, says the contracts must be amended to comply with a ruling from the European ... Read More »

Cost of Turkey agricultural imports rises more than 4 times under AK Party rule

ANKARA: The yearly cost of Turkey’s agricultural imports have risen more than four times since the Justice and Development Party (AK Party) came to power in 2002, suggesting that the country’s strong performance with regards to self-sufficiency in agricultural production is about to wane. While the amount of money that the government paid for imported agricultural goods was $1.69 billion ... Read More »

Russia foreign minister urges EU to support gas pipeline crossing Turkey

ANKARA: Russia’s foreign minister has urged the European Union to support the idea of a Moscow-backed pipeline that would bring natural gas across the Black Sea to Turkey and the rest of Europe. Sergei Lavrov said Friday the pipeline — which could include Greece, Macedonia, Serbia and Hungary — would bring “energy stability” to Europe. Greece’s left-wing government has expressed ... Read More »

Eskom asks Nersa for 25% increase in electricity prices

CAPE TOWN: ESKOM has asked the National Energy Regulator of SA (Nersa) to increase the price of electricity by 25.3% for the year ending March next year. The utility needs to recover about R53bn this year to plug a hole in its finances as a result of higher operating costs. The regulator said in a statement on Friday that the ... Read More »

Defence Secretary Philip Hammond seeks fast settlement on EU

BERLIN: : Defence Secretary Philip Hammond signalled that Britain will not insist on major treaty change during negotiations over the country’s future relationship with Europe. Philip Hammond has signalled that Britain will not insist on major treaty change during negotiations over the country’s future relationship with Europe. The Foreign Secretary told the Financial Times that treaty change was not “in ... Read More »

Rail workers in Britain to stage nationwide strike this month over pay dispute

LONDON: Rail workers in Britain will stage a national strike later this month in a dispute over pay, the RMT union announced, teeing up a move that could bring misery to millions of commuters. The union said its 16 000 staff at Network Rail, which maintains Britain’s railway infrastructure, including track and signalling, would stage a 24-hour walk-out starting at ... Read More »

Microsoft office 365 import service eases new email archive migrations

AMSTERDAM: New email archive migration options allow organizations to speed up their move to cloud-delivered email services. Microsoft has announced a public preview of Office 365 Import Service, a new offering that allows organizations to quickly import their Personal Storage Table (PST) files into Exchange Online, the company’s cloud-based hosted email platform. PST is a file format used by Microsoft ... Read More »

German economy expanded by just 0.3% in first quarter

BERLIN: Germany’s economy expanded by just 0.3 percent in the first quarter, less than expected. Growth in the entire eurozone, meanwhile, was up 0.4 percent, boosted by France and Italy . Gross domestic product (GDP) grew by 0.3 percent in the first quarter, compared with the previous three months. Analysts had expected growth of up to 0.9 percent. Consumers remained ... Read More »

Chinese solar sector hit by new trade complaint in Europe

BEIJING: A recent complaint filed with the European Commission (EC), alleging that Chinese solar companies are dodging higher trade tariffs by routing their exports through a third country, could further damage an already weakened relationship between China’s PV sector and Europe, reports the Securities Daily. EU ProSun, an industry group set up by European solar companies, has claimed that Chinese ... Read More »