Employees say that xenophobia is on the rise in Madrid’s Hortaleza district, where there have been a number of attacks against migrant youths. On Wednesday morning, a military-grade grenade was thrown over the wall of a center for minors in the Hortaleza district of Madrid. Source El Pais
Author: The Board
The Greek islands and the western part of Cyprus should not be given a continental shelf /exclusive economic zones (EEZ) but only territorial waters, according to sources within the Turkish foreign ministry, reports said on Tuesday. According to Anadolu news agency, sources within the Turkish foreign ministry argued that based on international law, the main term to be used in such cases is the equitable principle and not the principle of equidistance. Source Cyprus-mail
US President Donald Trump has abruptly cancelled his final press conference at the NATO summit in London, following two days plagued by internal stresses and tensions between bloc members. Trump tweeted that when his Wednesday meetings are over, he will head back to Washington and won’t do a planned press conference at the close of the summit, saying he had already done “so many over the past two days.” Source RT
Coal power becoming ‘uninsurable’ as firms refuse cover. The number of insurers withdrawing cover for coal projects more than doubled this year and for the first time US companies have taken action, leaving Lloyd’s of London and Asian insurers as the “last resort” for fossil fuels, according to a new report. Source The Guardian
The European Union on Wednesday called for the publication of a memorandum of understanding signed between Turkey and Libya which ostensibly delineates maritime borders between the two countries, and expressed its full support for the sovereign rights of Greece and Cyprus. Source Ekathimerini
Germany’s main automobile industry body said on Wednesday it expects global car sales to fall by 5% this year, the steepest drop since the financial crisis, and warned of more job cuts in 2020 as a result. Source Euronews
US President Donald Trump slammed Justin Trudeau as “two-faced” after a video emerged showing the Canadian Prime Minister and other world leaders apparently mocking him. Trudeau, France’s Emmanuel Macron and Britain’s Boris Johnson were caught on camera in a conversation joking about US President Donald Trump during a NATO reception at Buckingham Palace on Tuesday evening. The Euronews
The sudden and unexplained detention on Tuesday of a Turkish school director in northwest Bosnia is being linked to pressure exerted by the Ankara authorities. Source Balkan Insight
Unions representing workers for the Paris transport authority announced on Thursday afternoon that they would continue their strike until Monday. The move was largely expected given what they had said in advance of the strike. Unions voted on Thursday to prolong the strike action meaning transport in the French capital will be severely disrupted until Monday at least. Source The Local
France’s largest nationwide strike in years has severely disrupted schools and transport. Workers are angry about planned pension reforms that would see them retiring later or facing reduced payouts. Source BBC
South Africa‘s struggling state power utility Eskom said it will cut up to 2,000 megawatts of power from the national grid on Thursday due to a shortage of generating capacity. Source Moneyweb
Employees say that xenophobia is on the rise in Madrid’s Hortaleza district, where there have been a number of attacks against migrant youths. On Wednesday morning, a military-grade grenade was thrown over the wall of a center for minors in the Hortaleza district of Madrid. Source El Pais
US President Donald Trump has abruptly cancelled his final press conference at the NATO summit in London, following two days plagued by internal stresses and tensions between bloc members. Trump tweeted that when his Wednesday meetings are over, he will head back to Washington and won’t do a planned press conference at the close of the summit, saying he had already done “so many over the past two days.” Source RT
The European Union on Wednesday called for the publication of a memorandum of understanding signed between Turkey and Libya which ostensibly delineates maritime borders between the two countries, and expressed its full support for the sovereign rights of Greece and Cyprus. Source Ekathimerini
US President Donald Trump slammed Justin Trudeau as “two-faced” after a video emerged showing the Canadian Prime Minister and other world leaders apparently mocking him. Trudeau, France’s Emmanuel Macron and Britain’s Boris Johnson were caught on camera in a conversation joking about US President Donald Trump during a NATO reception at Buckingham Palace on Tuesday evening. The Euronews
The Alan Kurdi and Ocean Viking rescue ships were given permission to dock in Italian ports on Wednesday morning and safely offload their 121 passengers. Both ships rescued migrants from the Mediterranean on November 28 and had been waiting for approval to enter a safe port. Source Infomigrants
France is bracing itself for a widespread transport strike starting on Thursday, December 5. This looks set to be the most comprehensive strike the country has experienced in decades. Many are predicting the country will be forced to a standstill. It is possible the strikes could last until Christmas. Source France24
Shops, bars and restaurants have been told to close and parking banned in areas of central Paris as police brace themselves for violence when mass strike action begins across France on Thursday. Source The Local
The Opec oil cartel is considering deeper cuts to production next year to avert a price slump in the market as the global economy falters. Ministers from some of the world’s biggest “petro-nations” are expected to cut an extra 400,000 barrels of oil a day from the global market and may consider even deeper cuts of up to 800,0000 barrels, according to reports. Source The Guardian
Eight thousand gold bars, worth around €4.5bn, have been returned to Poland from London after being spirited from the Eastern European country at the start of World War II. Source RTE
German industrial orders fell unexpectedly in October as demand at home and from outside the euro zone weakened, suggesting a manufacturing downturn will continue to hold back growth in Europe’s largest economy in the final quarter. Source Reuters
The Greek islands and the western part of Cyprus should not be given a continental shelf /exclusive economic zones (EEZ) but only territorial waters, according to sources within the Turkish foreign ministry, reports said on Tuesday. According to Anadolu news agency, sources within the Turkish foreign ministry argued that based on international law, the main term to be used in such cases is the equitable principle and not the principle of equidistance. Source Cyprus-mail
Coal power becoming ‘uninsurable’ as firms refuse cover. The number of insurers withdrawing cover for coal projects more than doubled this year and for the first time US companies have taken action, leaving Lloyd’s of London and Asian insurers as the “last resort” for fossil fuels, according to a new report. Source The Guardian
Germany’s main automobile industry body said on Wednesday it expects global car sales to fall by 5% this year, the steepest drop since the financial crisis, and warned of more job cuts in 2020 as a result. Source Euronews
Thousands of Thyssenkrupp steel workers in Germany on Tuesday protested against planned job cuts, accusing bosses at the struggling conglomerate of mismanagement after a failed merger bid with Tata steel. Source The Local
The US Trade Representative (USTR) proposed additional duties of up to 100% on French goods and additional fees and restrictions on French services yesterday on December 2 after determining from its investigation under Section 301 of the US Trade Act that the French DST is discriminatory against US companies. Source International Tax Review
British manufacturers cut jobs at the fastest rate in seven years last month to reduce costs amid falling sales as the sector continued to shrink. The closely watched IHS Markit/CIPS purchasing managers’ index (PMI) dipped to 48.9 in November from 49.6 in October. A figure below 50 is a contraction. Source The Times
- Russian President Vladimir Putin on Monday signed legislation requiring all smartphones, computers and smart TV sets sold in the country to come pre-installed with Russian software.
- Some electronics retailers say the legislation was adopted without consulting them.
- The country’s mobile phone market is dominated by foreign companies including Apple, Samsung and Huawei. Source CNBC
- The ISM Manufacturing Index registered 48.1 in November, down from 48.3 in October and below market expectations of 49.4.
- Anything below 50 represents contraction in a survey that gauges the activities of goods producers.
- Particular weakness came in inventories and new orders, while employment also showed reduced expectations. Source CNBC
