Emirati-designated COP28 leader forcefully denies report UAE wanted to seek oil deals in summit
The Emirati president-designate for the upcoming United Nations COP28 climate talks has forcefully denied a report alleging his nation planned to use the summit to strike oil and gas deal, a day before the summit was due to being
2023-11-29 19:20
Walmart shifts to India from China for cheaper imports
By Richa Naidu and Siddharth Cavale LONDON/NEW YORK Walmart is importing more goods to the United States from
2023-11-29 19:17
India Allots $142 Billion for Free Grains to 800 Million People
Sign up for the India Edition newsletter by Menaka Doshi – an insider's guide to the emerging economic
2023-11-29 18:48
David Cameron wants post-Brexit Gibraltar deal with Spain ‘as soon as possible’
The UK and Spain are close to agreeing a deal on the post-Brexit status of Gibraltar, the Spanish foreign minister has indicated. A spokesperson for the Foreign Office said Lord Cameron had underlined the UK’s desire to get “a UK-EU treaty on Gibraltar as soon as possible” during his discussion with counterpart Jose Manuel Albares. Mr Albares first revealed he had been in crunch talks with Rishi Sunak’s new foreign secretary David Cameron on resolving the long-running row over trade and immigration arrangements. He told Spanish media that he had spoken with Lord Cameron over the phone on Monday, and they had also agreed to meet in person during a Brussels summit on Tuesday. The Spanish minister suggested the outline of a deal was now in place for a “zone of shared prosperity” in the Spanish area next to the British territory to avoid a hard border on the flow of people and goods. “I would sign a deal with Britain over Gibraltar tomorrow,” Mr Albares told the television channel Telecinco – saying both sides “agree that we have to move forward as soon as possible”. A UK-EU deal on arrangements for Gibraltar’s border – primarily on trade and free movement – was not struck in time for the Brexit deal worked out by Boris Johnson’s government. Conservative ministers have been nervous about signing any bilateral deal that could be viewed as reducing British influence over the territory. The Spanish foreign ministry has said the deal would allow Spain to use the Schengen agreement – which allows for the free movement of EU citizens around the bloc – to ease controls on the movement of people. Spain, the UK and the EU have previously agreed to the principle that Gibraltar should remain part of EU agreements on free movement. Mr Albares suggested the UK was also now keen on a frictionless border when it comes to the movement of goods – something akin to the thorny arrangements for Northern Ireland His ministry said a “zone of shared prosperity” deal would see limited checks “without increasing the risks for the EU internal market” – meaning the UK would have to agree to alignment on Brussels regulations. The Spanish foreign minister told reporters in Brussels: “I think this deal … is better for everyone than the application of European legislation after British citizens democratically decided to leave the European Union.” “There’s already been political will on the part of the Spanish government for many months,” Mr Albares said on the “generous and balanced deal on the table”. He added: “What’s needed now is that political will on the part of the United Kingdom to move forward decisively, which is what I’ve seen so far. But we won’t know until the end. Nothing will be agreed until it’s all agreed.” Despite optimism that a deal is now close, there was no word from Lord Cameron’s team on the prospects of an agreement being signed within days. Britain’s decision to leave the EU was very unpopular in the British overseas territory, where thousands of people cross the border with Spain every day for work. Just over 95 per cent of the territory’s population voted to stay in the EU in the 2016 referendum. The territory’s business leaders have been keen for a deal to be struck. Brian Reyes, editor of the Gibraltar Chronicle wrote: “Seven years on [from the Brexit referendum], the Brexit levanter still hangs over our heads.” Meanwhile, Lord Cameron is expected to try to meet EU Commission vice-president Maros Sefcovic during his Brussels summit visit – his first trip to the EU capital since his fateful Brexit referendum. The foreign secretary is reportedly ready to raise the issue of post-Brexit tariffs set to be imposed on the automobile industry into force in January if he meets Mr Sefcovic this week. Mr Sunak’s government is pushing the EU Commission to agree to delay the costly new “rules of origin” set to damage the electric vehicle (EV) market due to come in at the start of 2024 as part of Mr Johnson’s trade deal. The Independent has contacted Lord Cameron’s team and the Foreign Commonwealth and Development Office (FCDO) for comment. Read More ‘History and justice’ on side of Greek claim to Elgin Marbles, says minister Brexit red tape risks extending inflation crisis, retailers warn ‘Terrible legacy’ left by death of Bloody Sunday Parachute Regiment commander Hamas to release more hostages as thousands set for Gaza ceasefire march Lord Cameron says UK needs to engage with China Israeli safety depends on long-term Palestinian ‘security’, warns Cameron
2023-11-29 18:48
Rising Taxes to Squeeze UK Living Standards for Longer, OECD Says
Rising taxes mean UK households face several more years of falling living standards even though inflation is coming
2023-11-29 18:26
OECD Warns Global Economy Risks Losing Momentum
The world’s advanced economies are heading into a deepening slowdown as markedly higher interest rates take a hefty
2023-11-29 18:23
The world economy will slow next year because of inflation, high rates and war, OECD says
The global economy, which has proved surprisingly resilient this year, is expected to falter next year under the strain of wars, still-elevated inflation and continued high interest rates
2023-11-29 18:22
Sweden's economy shrinks in the third quarter to signal that a recession may have hit the country
Sweden’s economy shrank in the third quarter of 2023 to mark the second time of contraction and signal that a recession may have hit the country
2023-11-29 17:59
Binance’s Reboot Faces Test in Thailand After $4.3 Billion US Fine
Binance Holdings Ltd.’s attempt to turn the page on costly regulatory violations faces a test in Thailand, where
2023-11-29 17:57
Disney admits its new content may not be appealing to audiences as it delays $330M albatross again
Senator Ted Cruz labeled Disney's filing as indicative of losses due to prioritizing woke politics over profits
2023-11-29 17:57
UK Watchdog to Examine Supermarket Two-Tier Pricing Plans
Britain’s antitrust watchdog will investigate a two-tier pricing system developing in supermarkets as a result of loyalty programs
2023-11-29 17:56
Dollar rises from three-month low; hawkish RBNZ boosts kiwi
By Harry Robertson and Rae Wee LONDON/SINGAPORE The U.S. dollar ticked up on Wednesday after falling to its
2023-11-29 17:29