“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
Pakistan’s Parliament is expected to consider a resolution on Tuesday about whether the French envoy should be expelled over the publication of controversial cartoons depicting Islam’s Prophet, testing whether the government gives in to threats from radical Islamists. Source France24
Germany’s parliament has approved the first set of regulations of contact restrictions and other measures that would uniformly affect the entire country. Lawmakers voted as police were breaking up a major public protest. Source DW
Russian President Vladimir Putin has warned the West not to cross a “red line” with Russia, saying such a move would trigger an “asymmetrical, rapid and harsh” response. Source BBC
Japanese Prime Minister Yoshihide Suga has emphasised that, despite a reference to Taiwan in a joint statement released after his recent meeting with US President Joe Biden, there is no possibility of Japanese forces being committed to any military contingency surrounding Taiwan. Source South Chinese Morning press
The recent murders of five women in Sweden have sparked debate and calls for policy change in the country often lauded for its gender equality. Two of the murders took place in broad daylight, while one was killed at home in the same room as her young baby. Most of the victims have not been named in Swedish media, which is usually due to families not giving consent. Source The Local
Pakistan’s Parliament is expected to consider a resolution on Tuesday about whether the French envoy should be expelled over the publication of controversial cartoons depicting Islam’s Prophet, testing whether the government gives in to threats from radical Islamists. Source France24
Greece recognises Sputnik V as ‘equivalent’ to European vaccines. Greece will recognise Russia’s Sputnik V vaccine in its vaccination certificate, making it easier for Russian tourists to travel and spend their summer holidays in Greece. Source Euractiv
Taiwan’s largest annual military exercise will begin in earnest this week, with the country using sophisticated software to simulate a full-scale enemy invasion and gauge its reaction to a worst-case scenario lasting eight days. Source Newsweek
Saudi and Iranian officials held direct talks this month in a bid to ease tensions between the two foes, a senior Iranian official and two regional sources said, as Washington works to revive a 2015 nuclear pact with Tehran and end the Yemen war. Source Reuters
- Defence official says the self-ruled island is looking to acquire Lockheed Martin’s AGM-158
- Beijing has ramped up pressure as it tries to force Taipei to accept its claims of sovereignty
Ukrzaliznytsia (Ukrainian railways) stated about the deficit of fuel. The rest amount of diesel is enough for four days as Ukrzaliznytsia reported.
“Ukrzaliznytsia has two contracts on the supply of 10,000 tons of diesel fuel. Meanwhile, due to the refusal of the suppliers to load out fuel on the contracts, the company owns a stockpile for four days,” the message said.
However, the company noted that currently, the work is held on ‘provision of stable work of the railroad transport’, the company controls the situation and has a firm plan for the provision of necessary volume of fuel soon. Source 112 UA
China’s economy grew by double digits in the latest quarter but an explosive rebound from the coronavirus pandemic is slowing abruptly as manufacturing and consumer spending return to normal. Source AP
It finally happened, that glorious moment, when, after teetering on the verge for weeks – for reasons we’ll get into shortly – the incredibly spiking US gross national debt, after kissing the line a couple of times for a moment, finally, and suddenly by a big leap, jumped over the $28-trillion mark, with a $143-billion leap in one day on Wednesday, March 31, following some big Treasury sales. Source Wolfstreet
The Russian Akademik Cherskiy vessel has arrived at the construction site to lay pipes for the Nord Stream 2 gas pipeline project, Nord Stream 2 AG, project operator company, told reporters. Source Tass
Holders of UK government bonds are suffering the worst quarter in at least two decades as Britain’s economic prospects brighten, setting a contrast with the eurozone where a more sputtering recovery from the coronavirus crisis is helping haven assets hold their value. Source FT
Sales of new U.S. single-family homes fell to a nine-month low in February amid bitterly cold weather, and expensive lumber and rising mortgage rates could cool the housing market this year. Separately on Tuesday, the Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, surged 34.8% to a 12-year high of $647.2 billion in 2020 as the pandemic severely disrupted exports. Source Reuters
Turkey’s currency tumbled as much as 15% after President Recep Tayyip Erdogan sacked the country’s central bank governor over the weekend. Naci Agbal had been credited as a key force in pulling the lira back from historic lows. Source BBC
- The Fed expects core inflation to hit 2.2% this year, but has a long-run expectation of it sticking around 2%.
- The U.S. central bank also indicated that it didn’t plan to hike interest rates through 2023 and that it would continue its program of buying at least $120 billion of bonds a month.
- Guy LeBas, chief fixed income strategist at Janney Montgomery Scott, described the move in yields as a “belated overreaction” to the Fed’s projections and Jerome Powell’s statements on Wednesday. Source CNBC
The US State Department called for companies to cease activity on the controversial pipeline or face sanctions. The US has slammed the project as a Russian plan to “divide Europe and weaken European energy security.” Source Deutsche Welle
Nokia on Tuesday (16 March) announced plans to cut up to 10,000 jobs within two years to trim costs and invest more in research capabilities, as the Finnish telecoms group seeks to step up its challenge to Sweden’s Ericsson and China’s Huawei, write Supantha Mukherjee and Essi Lehto. Source EU Reporter
- Industrial production jumped 35.1% in the January-February period from a year earlier, compared with a median estimate of 32.2% in a Bloomberg survey of economists.
- Retail sales climbed 33.8% in the period, versus a forecast of 32%.
- Fixed-asset investment rose 35%, well below a projection of 40.9%.
- The jobless rate was 5.5% at the end of February, up from 5.2% in December.
- The CSI 300 Index pared an earlier loss of as much as 1.5% after the data dump to trade 0.8% lower as of 10:25 a.m. in Shanghai.
- The yuan was little changed in both onshore and offshore markets. Source Japan Times
Pushed by drastically increased public spending and a record-setting economic slowdown due to the Covid-19 pandemic, Italy’s national debt ratio surged last year, reaching 155.6 per cent of the country’s GDP, authorities said. Data issued on Tuesday by the country’s National Statistics Institute (ISTAT) revealed that the national debt in 2020 totalled 2.57 trillion euros ($3 trillion), Xinhua news agency reported. Source Menafn
