“The main installations have been completed, the shut-off valves have been installed, so we can assume that the project will be completed by the end of 2019,” said project spokesman Jens Müller. Source: The Local Deutschland
Trade Cooperation
Austria has mulled over the possibility of new sanctions against Russia due to the detention of three Ukrainian Navy vessels that sailed toward the Kerch Strait in what Moscow has described as an unequivocal provocation committed in violation of international law. At a secret meeting of the Political and Security Committee in Brussels on Tuesday, French and German diplomats spoke out against stepping up existing EU sanctions against Russia in light of the growing rift between Moscow and Kiev over the Kerch Strait incident. Source: Sputnik
Kosovo Prime Minister says taxes on imports from Serbia and Bosnia will rise from 10 to 100 per cent immediately – a day after Serbia hailed the failure of its bid to join Interpol. Source: Balkan Insight
Russia may launch settlements with Iran in national currencies in order to continue bilateral cooperation despite the US sanctions against Tehran, Russian Energy Minister Alexander Novak said in an interview with the Anadolu news agency on Sunday. Source: TASS
Tehran has expressed hope that the Iran nuclear deal can be saved despite the US pulling out of the agreement. Iran’s statement came during a visit of the British foreign minister to Iran. Source: Deutsche Welle
China said it will continue pursuing negotiations with Canada on a free-trade deal after assurances that a recently settled North American trade agreement would not stop Ottawa from signing deals with other countries. Source: South China Morning Post
The nation’s lawmaking body approved the Comprehensive and Progressive Agreement for Trans-Pacific Partnership on Monday, following Australia’s ratification on October 31. Source: South China Morning Post
The Bosnian Serb leader, Milorad Dodik, backed by Republika Srpska’s parliament, the Serbian Orthodox Church and much of the electorate, has issued an ultimatum to the Bosniaks: agree to the removal of the foreign judges from the Constitutional Court within 60 days or the RS will unilaterally restore its full autonomy and initiate a referendum on independence. In the meantime, the RS parliament has called on Bosnian Serbs not to participate in state institutions, rendering them ineffective. Source Balkan Insight
President Donald Trump signaled Friday that U.S. officials are set to sign a historic peace deal with Taliban leaders this weekend, one that he hopes will help “bring our troops home” in the coming months. Source Military Times
Given the green light to seek their way to Europe, hundreds of irregular migrants on Friday flocked to shores and bus stations in order to reach European countries. Istanbul’s main Esenler July 15 Democracy Bus Station has been one of the major starting points for Syrian refugees aiming to head to Turkey’s coastal regions and border cities on their way to Europe. Source Daily Sabah
Greek authorities suspended the operation of the customs post on the border with Turkey at Kastanies, Evros on Friday.
According to Athens-Macedonian News Agency (ANA) sources, the border crossing was closed after a large number of people, mainly refugees and migrants, gathered on the Turkish side of the border with the intention of coming to Greece. Source Greek City Times
Guards on Greece’s northeastern land border with Turkey made “deterrent use” of tear gas to disperse some 500 refugees and migrants trying to enter the country and the European Union after Ankara loosened controls on migrant flows. Source Ekathimerini
Greek Prime Minister Kyriakos Mitsotakis called an emergency meeting of key government officials as hundreds of migrants and refugees were attempting to push through the country’s border with Turkey in a bid to reach the European Union on Friday. Source Ekathimerini
Border police had prevented two groups of about 30 people from entering Bulgaria from Turkey early on Friday after Ankara said it would no longer stop Syrian refugees from reaching Europe Source Haaretz
French jihadists are fighting in the Battle of Idlib against the Syrian regime. They are following orders from the French jihadi recruiter Omar Omsen, who claimed independence from the Islamic State (IS) group and al Qaeda. Source France24
Paris police reported a fire Friday near the Gare de Lyon train station, which was partially evacuated amid violent protests against a Congolese singer due to give a concert nearby. “Avoid the area and allow the emergency services to intervene,” the police said on Twitter, adding later the fire had been brought under control and was “being extinguished.” Source France24
Elderly people and those with disabilities face losing care services across Scotland as deep cuts are made. Staff vacancies are left unfilled, even when vacancies could affect support elderly people need to live independently in their own homes, as the bodies that oversee social care and GP surgeries battle with budgets that are plunging millions of pounds into the red. Source The Times
Turkey has decided to no longer stop Syrian refugees from reaching Europe by land and sea, a senior Turkish official told Reuters on Thursday, in anticipation of the imminent arrival of refugees from Syria’s Idlib where nearly a million have been displaced. Source Daily Sabah
Shrinking exports held back German economic activity in the fourth quarter of last year, detailed data showed on Tuesday, confirming that Europe’s largest economy was stagnating even before the coronavirus outbreak began. Source Al Jazeera
In the end, the Council has moved closer to the most austere positions of the core countries, proposing a significant cut with respect to the previous budget (1.16% of GDP in 2014-20) and in comparison to the Commission’s proposals (1.11% of GDP) and of Parliament (1.3% of GDP). In addition, it reduces funding for the most significant items so far: cohesion (-12%) and agriculture (-14%). Source The Corner
uro zone money markets started to fully price in a December European Central Bank interest rate cut on Wednesday, as the spread of the coronavirus outside China prompted traders to ramp up expectations for more stimulus. Source Reuters
China’s warehouses have racked up record levels of steel as the coronavirus outbreak has brought construction and manufacturing, which account for more than half of global demand for the material, to a standstill.
Steel makers and traders held a total of 34.3m tons of finished steel products – the highest level ever recorded – as of February 20, according to Shanghai-based industry data provider Mysteel. Source Capital
Long-term bond rates are falling sharply as worries about a recession increase. The 30-year US Treasury yield is at an all-time low and the 10-year is not far from its 2016 record low of 1.32%. The price of US oil fell 5%. And the US dollar is near a 52-week high. Source CNN
Car sales in China fell 92% in the first half of February as the coronavirus shutdown took its toll, according to an industry trade body. Car dealerships have remained closed while buyers have stayed away to prevent the spread of the deadly virus. Source BBC
Germany’s 30-year bond yield turned negative for the first time since October on Monday, meaning the entire yield curve in the euro zone’s biggest economy was below zero again as coronavirus fears gripped world markets. The yield on the 30-year German bond fell 6 basis point to -0.022%, its lowest level since October. Source Reuters
- The drop off in tourist numbers is an “important impact” on France’s economy, Bruno Le Maire, the country’s finance minister, said.
- France is one of the most visited countries in the world, and tourism accounts for nearly 8% of its GDP.
- Le Maire said France welcomes around 2.7 million Chinese tourists to the country each year, but it “won’t be the same” in 2020. Source CNBC
European leaders failed to reach an agreement on the bloc’s Multiannual Financial Framework for 2021-2027, after more than 24 hours of negotiations and dozens of bilateral meetings held during EU’s emergency summit. Source New Europe
U.S. satellite broadband provider Hughes Network Systems may have to shut its Indian operations due to unpaid levies owed to the government, which could put thousands of banking services at risk, a company letter seen by Reuters showed.
India’s Supreme Court late last year ordered a number of telecom companies, including Hughes and larger firms like Vodafone (L:VOD), to pay billions of dollars owed to the government. Source Reuters
Kuwait Airways said it has decided to suspend all flights to Iran on Thursday until another notice amid fears from a coronavirus outbreak, according to statements published on the company’s Twitter account. Source Al Alarabiya
