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EU extends sanctions against Russia for 6 months

MuhasebeNews — Thu, 07 Feb 2019 11:01:52 +0000

Federica Mogherini, the High Representative of the European Union for Foreign Affairs and Security, said the sanctions against Russia would be extended for 6 months, until July 31st.

The European Council approved the decision.

The sanctions entity:

-limiting access to EU primary and secondary capital markets for 5 major Russian majority state-owned financial institutions and their majority-owned subsidiaries established outside of the EU, as well as three major Russian energy and three defense companies;

-imposing an export and import ban on trade in arms;

-establishing an export ban for dual-use goods for military use or military end users in Russia;

-curtailing Russian access to certain sensitive technologies and services that can be used for oil production and exploration.

Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult on an expert before taking a decision based on information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.

Barclays takes caution against Brexit

MuhasebeNews — Thu, 31 Jan 2019 14:37:23 +0000

British Bank Barclays decided to move part of its assets worth £170bn to Dublin to protect itself from a no-deal Brexit.

It is also planning on increasing its number of employees in Dublin from 150 to 300.

Ireland and the Netherlands are taking measures to prevent companies in the case of a no-deal Brexit.

The two countries aim to help clients get the same services from companies if Brexit happens without a trade agreement.

In the current state, companies are able to operate in other EU member countries without a restriction.

US takes legal action against Huawei

MuhasebeNews — Tue, 29 Jan 2019 11:36:00 +0000

US Justice Department has filed two indictments against Chinese tech giant Huawei on Monday.

One of the prosecutions accuses Huawei of stealing trade information from T-Mobile, a mobile communications company, and promising bonus for its employees who provide confidential information.

The Department also filed an indictment on Meng Wanzhou, Huawei’s CFO who got arrested in Canada in December.

Huawei made a statement on Tuesday, stating they are disappointed in the US for taking legal actions against the company.

Geng Shuang, a spokesperson from China’s Foreign Ministry, demanded the US to remove the bans it imposes on Chinese companies.

Democrats pass bill against border wall

MuhasebeNews — Fri, 04 Jan 2019 09:00:00 +0000

It seems that U.S President Donald Trump’s border wall dream is postponed a little more.

Democrats are insistent on not financing the project.

At least $5 billion is needed for the construction of a wall on Mexican border.

Democrats passed the legislation regarding reopening of closed government agencies following Nancy Pelosi’s election as the new House speaker.

The legislation included Democrat’s decision of not giving President Trump the required fund for border wall.

WTO takes action against Trump

MuhasebeNews — Thu, 29 Nov 2018 07:45:57 +0000

The WTO’s Dispute Settlement Body (DSB) agreed to establish panels to review U.S. President Donald Trump’s tariffs of 25 percent on steel and 10 percent on aluminium on some countries.

The DSB will create separate panels for the complaints by the European Union, China, Canada, Mexico, Norway, Russia and Turkey as the U.S. said it would not agree to a single panel to hear all of them.

The DSB agreed on Nov. 21 to Washington’s request for three panels to rule on the legality of retaliatory tariffs imposed by Canada, China, Mexico and the European Union.

It also agreed to a U.S. call for a panel to be created to review “certain Chinese measures pertaining to the protection of intellectual property rights.”

Under WTO regulations, parties in a dispute can block a first request for the creation of an arbitration panel, but if the parties make a second request, it is all but guaranteed to go through.

The first requests to establish the panels were rejected last month, prompting the sides to file second requests.

Trade war fears hit markets as Trump threatens China investments

MuhasebeNews — Mon, 25 Jun 2018 07:42:11 +0000

Trump’s latest threat against China has hit European markets.

Fears of a trade war between America and China have ratcheted up another notch, hitting confidence in the markets.

Overnight, it’s emerged that President Donald Trump is drawing up a fresh crackdown on Chinese investment in the US.

New rules, which could be announced within days, would prevent firms with at least 25% Chinese ownership from acquiring American companies involved in ‘industrially significant technology’, such as robotics, electronic cars, and aerospace.

Trump is also planning to restrict US companies from selling certain technologies to China, using “enhanced export controls”, according to the Wall Street Journal.

Such a move would further damage relations between Washington and Beijing, following the threat of tit-for-tat tariffs.

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Source: BBC
Legal Notice: The information in this article is intended for information purposes only. It is not intended for professional information purposes specific to a person or an institution. Every institution has different requirements because of its own circumstances even though they bear a resemblance to each other. Consequently, it is your interest to consult with an expert before taking a decision based on the information stated in this article and putting into practice. Neither MuhasebeNews nor related person or institutions are not responsible for any damages or losses that might occur in consequence of the use of the information in this article by private or formal, real or legal person and institutions.