Economy https://www.commonspace.eu/ en Chinese manufacturer BYD to build factory in Türkiye and avoid EU import duties https://www.commonspace.eu/news/chinese-manufacturer-byd-build-factory-turkiye-and-avoid-eu-import-duties <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Chinese manufacturer BYD to build factory in Türkiye and avoid EU import duties</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">Chinese electric car manufacturer BYD, which stands for 'Build Your Dreams', signed a deal with Türkiye on Monday (8 July) to open a major factory in the country. The move will allow the Chinese to avoid new import tariffs from Brussels.</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-07-09T08:37:54+00:00" class="field field--name-created field--type-created field--label-hidden">Tue, 07/09/2024 - 10:37</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/chinese-manufacturer-byd-build-factory-turkiye-and-avoid-eu-import-duties" rel="tag" title="Chinese manufacturer BYD to build factory in Türkiye and avoid EU import duties" hreflang="en">Read more<span class="visually-hidden"> about Chinese manufacturer BYD to build factory in Türkiye and avoid EU import duties</span></a></li><li class="comment-forbidden"></li></ul> </div> Tue, 09 Jul 2024 08:37:54 +0000 12777 at https://www.commonspace.eu French political uncertainty and China trade row cast shadow over Europe https://www.commonspace.eu/news/french-political-uncertainty-and-china-trade-row-cast-shadow-over-europe <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">French political uncertainty and China trade row cast shadow over Europe</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">Political uncertainty in France and an EU trade dispute with China are casting a shadow over European corporate earnings, investors say, despite forecasts pointing to better corporate results. According to LSEG I/B/E/S equity research, second-quarter earnings for companies in the pan-European STOXX 600 index are expected to rise by 2%, with revenues up 1.7%. This would be the first quarter of growth since early 2023. Investors had been optimistic about Europe's stock markets as the European Central Bank adopted a looser policy and the economic outlook improved. However, French President Emmanuel Macron's unexpected decision to call a general election has raised doubts.</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-07-01T10:06:37+00:00" class="field field--name-created field--type-created field--label-hidden">Mon, 07/01/2024 - 12:06</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/french-political-uncertainty-and-china-trade-row-cast-shadow-over-europe" rel="tag" title="French political uncertainty and China trade row cast shadow over Europe" hreflang="en">Read more<span class="visually-hidden"> about French political uncertainty and China trade row cast shadow over Europe</span></a></li><li class="comment-forbidden"></li></ul> </div> Mon, 01 Jul 2024 10:06:37 +0000 12764 at https://www.commonspace.eu US, South Korea and Japan pledge strategic cooperation for greater security and economic growth https://www.commonspace.eu/news/us-south-korea-and-japan-pledge-strategic-cooperation-greater-security-and-economic-growth <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">US, South Korea and Japan pledge strategic cooperation for greater security and economic growth</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">Commerce and trade ministers from the United States, Japan and South Korea pledged on Wednesday (27 June) to work together on strategic issues such as artificial intelligence (AI) security, export controls, clean energy and semiconductor supply chains. "We are redoubling our efforts to work together," said US Commerce Secretary Gina Raimondo at the start of the meeting in Washington. "As leaders in manufacturing, services, technology and innovation, we must work together not only for the benefit of our countries, but for the security of the world," she added. Raimondo was joined by Japan's Minister of Economy, Trade and Industry, Ken Saito, and South Korea's Minister of Trade, Industry and Energy, Ahn Duk-geun, for this inaugural trilateral meeting, which was agreed by their leaders at a summit in Camp David in August.</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-06-27T08:21:08+00:00" class="field field--name-created field--type-created field--label-hidden">Thu, 06/27/2024 - 10:21</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/us-south-korea-and-japan-pledge-strategic-cooperation-greater-security-and-economic-growth" rel="tag" title="US, South Korea and Japan pledge strategic cooperation for greater security and economic growth" hreflang="en">Read more<span class="visually-hidden"> about US, South Korea and Japan pledge strategic cooperation for greater security and economic growth</span></a></li><li class="comment-forbidden"></li></ul> </div> Thu, 27 Jun 2024 08:21:08 +0000 12758 at https://www.commonspace.eu EU adopts 14th package of sanctions against Russia https://www.commonspace.eu/news/eu-adopts-14th-package-sanctions-against-russia <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">EU adopts 14th package of sanctions against Russia</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">The Council of the European Union on Monday (24 June) adopted a 14th package of economic and individual restrictive measures against Russia, "dealing a further blow to the Putin regime and those who perpetuate its illegal, unprovoked and unjustified war of aggression against Ukraine". These measures are designed to target high-value sectors of the Russian economy, such as energy, finance and trade, and make it increasingly difficult to evade EU sanctions.</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-06-25T12:41:46+00:00" class="field field--name-created field--type-created field--label-hidden">Tue, 06/25/2024 - 14:41</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/eu-adopts-14th-package-sanctions-against-russia" rel="tag" title="EU adopts 14th package of sanctions against Russia" hreflang="en">Read more<span class="visually-hidden"> about EU adopts 14th package of sanctions against Russia</span></a></li><li class="comment-forbidden"></li></ul> </div> Tue, 25 Jun 2024 12:41:46 +0000 12753 at https://www.commonspace.eu EU tariffs on China are not punishment, says German economy minister https://www.commonspace.eu/news/eu-tariffs-china-are-not-punishment-says-german-economy-minister <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">EU tariffs on China are not punishment, says German economy minister</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">Proposed European Union tariffs on Chinese goods are not a "punishment", German Federal Minister for Economic Affairs and Climate Action Robert Habeck assured Chinese officials in Beijing on Saturday (22 June). The visit is the first by a senior European official since Brussels proposed significant tariffs on imports of Chinese-made electric vehicles (EVs) in response to what the EU sees as excessive subsidies. Ahead of Habeck's arrival, China warned that rising tensions over EVs could spark a trade war. "It is important to understand that these are not punitive tariffs," Habeck told the opening session of a dialogue on climate and transformation. He stressed that unlike the US, Brazil and Turkey, which have used punitive tariffs, the EU is taking a different approach.</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-06-22T21:40:45+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 06/22/2024 - 23:40</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/eu-tariffs-china-are-not-punishment-says-german-economy-minister" rel="tag" title="EU tariffs on China are not punishment, says German economy minister" hreflang="en">Read more<span class="visually-hidden"> about EU tariffs on China are not punishment, says German economy minister</span></a></li><li class="comment-forbidden"></li></ul> </div> Sat, 22 Jun 2024 21:40:45 +0000 12746 at https://www.commonspace.eu New report reveals climate impact of Russia's war in Ukraine: $32 billion damage over two years https://www.commonspace.eu/news/new-report-reveals-climate-impact-russias-war-ukraine-32-billion-damage-over-two-years <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">New report reveals climate impact of Russia&#039;s war in Ukraine: $32 billion damage over two years</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">Russia's ongoing full-scale war in Ukraine, initiated on 24 February 2022, has caused significant environmental and climate damage, severely impacting global efforts to combat climate change. This is highlighted in the latest report from the Initiative on Greenhouse Gas Accounting of War (IGGAW), which analyses the environmental costs over the past two years. The report was published Thursday (13 June) by the Ministry for Environmental Protection and Natural Resources of Ukraine in collaboration with climate advocacy groups. The IGGAW report estimates climate-related damages at $32 billion, attributed to activities such as the extensive use of military fuels and the destruction of landscapes and infrastructure. Over 24 months, the conflict resulted in the emission of 175 million tonnes of carbon dioxide - more than the annual emissions of a developed country like the Netherlands. </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-06-13T11:25:11+00:00" class="field field--name-created field--type-created field--label-hidden">Thu, 06/13/2024 - 13:25</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/new-report-reveals-climate-impact-russias-war-ukraine-32-billion-damage-over-two-years" rel="tag" title="New report reveals climate impact of Russia&#039;s war in Ukraine: $32 billion damage over two years" hreflang="en">Read more<span class="visually-hidden"> about New report reveals climate impact of Russia&#039;s war in Ukraine: $32 billion damage over two years</span></a></li><li class="comment-forbidden"></li></ul> </div> Thu, 13 Jun 2024 11:25:11 +0000 12727 at https://www.commonspace.eu EU imposes import tariffs of billions of euros on Chinese electric cars https://www.commonspace.eu/news/eu-imposes-import-tariffs-billions-euros-chinese-electric-cars <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">EU imposes import tariffs of billions of euros on Chinese electric cars</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">The European Union is poised to impose significant new tariffs on Chinese electric vehicles (EVs), a move expected to raise more than €2 billion a year despite warnings from Germany about the potential economic impact. Brussels is determined to impose additional tariffs of up to 25% on these imports from next month, arguing that subsidies given to Chinese EV manufacturers allow them to unfairly undercut European competitors. The decision has sparked controversy, particularly in Germany, where there are fears of sparking a trade war with China, the EU's biggest trading partner.</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-06-12T08:07:45+00:00" class="field field--name-created field--type-created field--label-hidden">Wed, 06/12/2024 - 10:07</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/eu-imposes-import-tariffs-billions-euros-chinese-electric-cars" rel="tag" title="EU imposes import tariffs of billions of euros on Chinese electric cars" hreflang="en">Read more<span class="visually-hidden"> about EU imposes import tariffs of billions of euros on Chinese electric cars</span></a></li><li class="comment-forbidden"></li></ul> </div> Wed, 12 Jun 2024 08:07:45 +0000 12725 at https://www.commonspace.eu G7 explores ways to use frozen Russian assets to help Ukraine  https://www.commonspace.eu/news/g7-explores-ways-use-frozen-russian-assets-help-ukraine <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">G7 explores ways to use frozen Russian assets to help Ukraine </span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item">The G7 will explore ways to use future revenues from frozen Russian assets to help Ukraine. Following Russia's invasion of Ukraine in February 2022, the G7 and its allies froze around $300 billion in Russian assets. "We are making progress in our discussions on potential avenues to bring forward the extraordinary profits stemming from immobilized Russian sovereign assets to the benefit of Ukraine," the draft statement said. G7 negotiators have been discussing for weeks how best to use these assets, which include major currencies and government bonds held mainly in European vaults. The United States (US) has been urging its G7 partners - Japan, Germany, France, Britain, Italy and Canada - to support a loan that could provide Kyiv with up to $50 billion in the near term. The cautious language of the statement, lacking figures or specifics, underlines the many legal and technical issues that would need to be resolved before such a loan could be issued. A G7 source indicated that there would be no significant changes to the statement before the final version is released later on Saturday (25 May).</div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-05-26T08:25:49+00:00" class="field field--name-created field--type-created field--label-hidden">Sun, 05/26/2024 - 10:25</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/g7-explores-ways-use-frozen-russian-assets-help-ukraine" rel="tag" title="G7 explores ways to use frozen Russian assets to help Ukraine " hreflang="en">Read more<span class="visually-hidden"> about G7 explores ways to use frozen Russian assets to help Ukraine </span></a></li><li class="comment-forbidden"></li></ul> </div> Sun, 26 May 2024 08:25:49 +0000 12711 at https://www.commonspace.eu The flag carrier of Saudi Arabia, Saudia placed a significant order with Airbus https://www.commonspace.eu/news/flag-carrier-saudi-arabia-saudia-placed-significant-order-airbus <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">The flag carrier of Saudi Arabia, Saudia placed a significant order with Airbus</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>Previously known as Saudi Arabian Airlines, Saudia announced on Monday (20 May), a new order for over 100 Airbus aircraft. Some of the aircraft will be delivered to another airline. In total, the Saudia Group has ordered 105 A320neo and A321neo aircraft. 54 of the longer Airbus variant are destined for Saudia itself. The remaining 39 A321neos and 12 smaller A320neos will be delivered to the airline's low-cost subsidiary, Flyadeal. The exact date of delivery is not yet known.</p></div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/10" typeof="schema:Person" property="schema:name" datatype="" content="Maximiliaan van Lange">Maximiliaan va…</span></span> <span property="schema:dateCreated" content="2024-05-21T10:56:56+00:00" class="field field--name-created field--type-created field--label-hidden">Tue, 05/21/2024 - 12:56</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/flag-carrier-saudi-arabia-saudia-placed-significant-order-airbus" rel="tag" title="The flag carrier of Saudi Arabia, Saudia placed a significant order with Airbus" hreflang="en">Read more<span class="visually-hidden"> about The flag carrier of Saudi Arabia, Saudia placed a significant order with Airbus</span></a></li><li class="comment-forbidden"></li></ul> </div> Tue, 21 May 2024 10:56:56 +0000 12695 at https://www.commonspace.eu Governments in the South Caucasus need to start co-operating on water issues https://www.commonspace.eu/news/governments-south-caucasus-need-start-co-operating-water-issues <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Governments in the South Caucasus need to start co-operating on water issues</span> <div property="schema:text" class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-hidden field__item"><p>Experts from Armenia, Azerbaijan and Georgia joined colleagues from Europe in Bonn on Thursday (2 May) to discuss issues related to water resources and scarcity in the South Caucasus. The workshop "Issues of water scarcity in the South Caucasus: a potential for future conflict or a basis for future co-operation" was jointly organised by LINKS Europe Foundation, The ReStart Initiative and the Candid Foundation.</p></div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"><span lang="" about="/user/13" typeof="schema:Person" property="schema:name" datatype="">dennis2020</span></span> <span property="schema:dateCreated" content="2024-05-05T05:57:25+00:00" class="field field--name-created field--type-created field--label-hidden">Sun, 05/05/2024 - 07:57</span> <div class="node__links"> <ul class="links inline"><li class="node-readmore"><a href="/news/governments-south-caucasus-need-start-co-operating-water-issues" rel="tag" title="Governments in the South Caucasus need to start co-operating on water issues" hreflang="en">Read more<span class="visually-hidden"> about Governments in the South Caucasus need to start co-operating on water issues</span></a></li><li class="comment-forbidden"></li></ul> </div> Sun, 05 May 2024 05:57:25 +0000 12675 at https://www.commonspace.eu