Archive for: EU

European Union flooded with migrants and asylum seekers

European Union flooded with migrants and asylum seekers

EU member states are tightening border controls and introducing security checks to limit the unrestricted inflow of refugees. Analysis by IHS: Bottom line Cargo and transport disruption risks are currently most severe in Calais, but are likely to expand to a wider geographical area in the three-month outlook. EU member […]

 
 

The EU is lacking the cornerstone

The EU is lacking the cornerstone

Op-Ed Harun Yahya dissects the current European Union (EU) turmoil and proposes his recipe for the union to recover from the downturn. It was following the Second World War when six European countries planted the seeds of the EU through a political and economic cooperation within the framework of the […]

 
 

ISIS: Another Resurgence of Radical Islamists

ISIS: Another Resurgence of Radical Islamists

In his Op-Ed, Mohammad S. Moussalli analyzes the current security situations and political dilemma in the Middle East in view of ISIS savagery. Last June, a major offensive launched by the so-called Islamic State of Iraq & Greater Syria (ISIS), also known as “The Islamic State” (IS), succeeded in no […]

 
 

The Increasing Importance of the Energy Factor in Turkish-European Relations

The Increasing Importance of the Energy Factor in Turkish-European Relations

Building a Europe based on love and friendship, one of which both Russia and Turkey are members, will make the continent a more peaceful and prosperous place, says Harun Yahya.  Until the Industrial Revolution, a nations basic production policies were based on the soil and obtaining the population to work […]

 
 

Iran and the West set to resume trade

Iran and the West set to resume trade

EU, US firms set to regain lost Iranian trade on the back of temporary trade relief. The West may have singled out Iran’s automotive and aviation sectors for temporary sanction relief, but a much wider group of European and U.S. companies are set to regain lost Iranian trade as soon […]

 
 

The Crux of Middle East and Arab Dilemma

The Crux of Middle East and Arab Dilemma

Mohammad S. Moussalli discusses the crux of Middle East and Arab dilemma, and makes suggestions so that to establish security and peace in the world. Whenever you get involved in a political discussion concerning the question of peace and security in this chaotic world, you will find out that Middle East […]

 
 

EU business demands change, but remain optimistic

EU business demands change, but remain optimistic

EU business leaders are pessimistic and are urgently demanding change — but remain optimistic on the long-term prospects for prosperity and global prominence. This is the core message of the 2013 ‘State of the European Union’ survey released today by Booz & Company, INSEAD, and the European Executive Council (EEC). […]

 
 

UAE gets approval for camel milk exports to EU

UAE gets approval for camel milk exports to EU

After obtaining the EU licence, the UAE will soon become the first Middle East country to export its camel dairy products to Europe. The Emirates Industry for Camel Milk & Products (EICMP) has confirmed that the breakthrough was achieved after five years of intense negotiations. During this period, several rounds […]

 
 

The Asian Bond Bubble

The Asian Bond Bubble

There is a strong sentiment being felt in the market right now which says that as credit markets in the West see an outflow of funds due to deepening eurozone crisis and a floor on the interest rates, more and more funds are being directed to the Asian bond markets. […]

 
 

EU grants Egypt aid worth $6.3bn despite anti-austerity protests in Europe

EU grants Egypt aid worth $6.3bn despite anti-austerity protests in Europe

The European Union announced on Wednesday it has approved a €5 billion ($6.3 billion) ‘support package’ to Egypt over a two year period to be disbursed through the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD), each providing €2 billion ($2.54 billion). Egypt will receive […]

 
 

One of Ali Baba’s Caves of the Middle East

One of Ali Baba’s Caves of the Middle East

In essence, a sovereign state is a socio-political association of people that has a representative political system, autonomous judiciary, nationally and internationally acknowledged governing body and self-rule over a recognised demarcated geographic area, which is not subject to other authority or state. Consider a state that could not uphold full […]

 
 

Iran might reduce oil exports in response to tightening Western sanctions

Iran might reduce oil exports in response to tightening Western sanctions

The Iranian parliament’s Energy Commission is set to announce new measures that will reduce the country’s crude exports to deflect Western sanctions on the oil sector, Fars news agency reported Thursday. The directives of the bill are part of Iran’s initiatives to slash crude exports to almost 77% in the […]

 
 

Eurozone Crisis and Germany: Has the Penny Finally Dropped?

Eurozone Crisis and Germany: Has the Penny Finally Dropped?

As Obama steps in to start his second term, markets take a tumble for the worst losing value immediately. The wave of optimism has been countered by a new wave of reality check which has been delivered by Mario Draghi who is the head of ECB. In his speech in […]

 
 

Cyprus’ EU bailout fund and the Russian mafia

Cyprus’ EU bailout fund and the Russian mafia

The need of the hour seems to be aid and assistance. With countries like Greece and Spain already seeing protests in their streets, there is a move to get it out as soon as possible to limit the damage that seems to be sweeping through the Eurozone. This all seems […]

 
 

EU strikes off North African nations from 2014 Preferential Trade System

EU strikes off North African nations from 2014 Preferential Trade System

A revised EU import preference scheme – known as the Generalised Scheme of Preferences (GSP) – which will take effect from 1 January 2014, is expected to deprive exports from Algeria, Egypt, Jordan, Lebanon, Morocco and Tunisia from enjoying preferential access to the markets of developed European countries. EU Trade Commissioner […]

 
 

European consortium to tap solar energy from the heart of Moroccan desert

European consortium to tap solar energy from the heart of Moroccan desert

The German, French, Italian, Spanish and Moroccan governments are pushing forward their green solar energy “Desertec” project, exclusive information obtained by a German newspaper revealed on Thursday. According to Süddeutsche Zeitung, the biggest selling national newspaper in Germany, electricity produced by a solar thermal plant in Morocco, which would cost €600 million to build, […]

 
 

Portugal imposes further austerity measures while Britain walks away

Portugal imposes further austerity measures while Britain walks away

As the European crisis goes on further, it seems things will get worse before they get any better. Analysts now say that there is a more than 50% chance that EU will dissolve and that the euro will cease to exist as a currency based on how things stand right […]

 
 

EU sanctions target Iran oil, gas, tanker companies

EU sanctions target Iran oil, gas, tanker companies

European Union governments on Tuesday imposed more sanctions against major Iranian state companies in the oil and gas industry, and strengthened restrictions on the central bank, revving up financial pressure on Tehran. EU’s Official Journal has listed more than 30 firms and institutions as targets for freezing assets in the EU, […]

 
 

US exports to Iran high despite more sanctions

US exports to Iran high despite more sanctions

Despite Washington’s tightening of financial sanctions against Iran, US exports to Tehran rose by nearly a third this year, chiefly because of grain sales, a report revealed on Monday. According to Census Bureau data, US exports hit $199.5 million in the first eight months of 2012 from $150.8 million a year earlier, […]

 
 

Iran rejects IEA report; insists oil exports steady

Iran rejects IEA report; insists oil exports steady

Iran’s OPEC governor denied on Saturday the Islamic Republic’s oil exports have declined in recent months. The statement came as a rebuttal to a report released by the International Energy Agency (IEA) that Tehran’s oil income is declining. The IEA report, released on Friday, estimated that Iran’s exports hit a new […]

 
 

Is Germany coming to rescue Greece?

Is Germany coming to rescue Greece?

As the next round of talks get underway, it seems that Angela Merkel has to play the devil’s advocate in front of more than one crowd. The German Chancellor says she is willing to aid Greece in every way possible even though her stance has not been supported by her […]

 
 

Middle East Business News Review – 9 October

Middle East Business News Review – 9 October

Today’s top business news from the Middle East and North Africa: UAE federal budget deficit hits $762m in H1- report The United Arab Emirates’ federal budget deficit has hit AED2.8 billion ($762 million) during the first half of this year, a top finance ministry official was quoted as saying on […]

 
 

European Union Parliament steps up against LIBOR

European Union Parliament steps up against LIBOR

Ever since the LIBOR rigging scandal broke out, there have been different people who looked to close the Pandora’s Box in one way or the other – from market officials who wanted a quick solution and substitution of the rate to legislators who wanted tighter restrictions on the financial markets. […]

 
 

Eurozone Crisis: The Luxembourg chapter

Eurozone Crisis: The Luxembourg chapter

European officials are set to meet this week in a series of meetings in order to get a hold of the Spanish component of the eurozone crisis as riots intensify in the country and there is a downward pressure on the currency as well. This situation is mimicking the circumstances […]

 
 

EU to ban Iran gas imports soon – report

EU to ban Iran gas imports soon – report

Diplomatic sources told Reuters on Thursday the European Union is considering a ban on Iranian gas imports into Europe as part of its efforts to ratchet up pressure on Iran over its nuclear programme. EU member states are said to be working on a package of sanctions against Iran with […]

 
 

Britain-Holland propose ‘full’ financial freeze, shipping ban on Iran

Britain-Holland propose ‘full’ financial freeze, shipping ban on Iran

Members of the European Union are discussing a sanctions proposal presented by Britain against Iran that calls for a ban on shipping and a “full” freeze on financial transactions with the Islamic Republic’s central bank, European diplomats said Tuesday. “Most (EU) member states are largely supportive of the proposals,” a […]

 
 

Syrians marred by spiralling violence, inflation

Syrians marred by spiralling violence, inflation

Prices of basic foodstuffs and other consumer goods in Syria are spiralling out of control as the government is yet to find practical solutions despite repeated assurances to handle the issue. According to recent official statistics, Syria’s annual inflation hit 36% in July, triggering a price hike in almost all commodities, […]

 
 

Just 17% Turks believe Ankara will join EU

Just 17% Turks believe Ankara will join EU

The number of Turks who believe the country will acquire European Union membership has dropped sharply in comparison to last year, a recent poll suggested. According to a poll conducted by the German-Turkish Foundation for Education and Scientific Research (TAVAK), the percentage of people of who believe that Turkey can become an […]

 
 

Algeria to receive EU funds to protect environment

Algeria to receive EU funds to protect environment

The European Commission announced on Thursday it will allocate €34 million ($41.73m) to fund environmental programmes in Algeria. Under the programme, the Algiers’ coastal region will be protected and efforts will be made to tackle the impact of climate change at the heart of the country’s development policies. The ambitious […]

 
 

ECB in action or ECB inaction?

ECB in action or ECB inaction?

The markets are disappointed yet again as there seems to be a lack of action on the part of the Western central banks. By the way, I would like to mention here that I am not speaking from the point of view of a trader in oil or gold futures […]

 
 

EU gives Morocco multi-million euro aid despite crisis

EU gives Morocco multi-million euro aid despite crisis

The European Commission announced on Monday it has approved a 2012 action plan for Morocco worth €112 million that will support the management and safeguard of forests and reform the country’s financial management and public administration sectors. The Commissioner for European Neighbourhood Policy said the new funds are a perfect […]

 
 

The Pain in Spain

The Pain in Spain

Unexpected is one word that comes to mind when one considers the recent shock seen in the world markets. The borrowing by the debt ridden countries and the costs they have to incur is unexpected and high compared to fundamentals that it should have had been charged. People are skeptical. […]

 
 

Eurozone sovereign debt crisis hitting buyouts hard

Eurozone sovereign debt crisis hitting buyouts hard

Centre for Management Buyout Research (CMBOR) report said on Monday private equity dealers seem content to sit on the fence until the euro zone is stabilised and debt market improves enough to support higher prices. The findings suggested that the situation has led to a deadlock in new deals and […]

 
 

New round of EU Finance Ministers Summit – Any hope amidst doom and gloom?

New round of EU Finance Ministers Summit – Any hope amidst doom and gloom?

The recent performance of equity and commodity markets has shown that investors are currently skeptical. The positive gains seen in the markets last Friday, based on the EU summit, have slowly withered away. Tensions related to Iran and the temporary détente brokered, the markets have focused back on the indices […]

 
 

Swiss rejects EU oil sanctions on Iran, India circumvents ban through Tehran tankers

Swiss rejects EU oil sanctions on Iran, India circumvents ban through Tehran tankers

Switzerland announced on Thursday it will not follow European Union sanctions on Tehran and carry on trading Iranian oil for “foreign policy reasons”. Reports said Switzerland is one of the top hubs for physical oil trading and hosts a branch of the National Iranian Oil Company NICO. However, it does […]

 
 

Iran convenes discussion with world powers

Iran convenes discussion with world powers

Iran has convened a meeting with world powers in Istanbul in search of a diplomatic solution to the nation’s nuclear work. The Islamic Republic considers the international sanctions that target its energy and finance industries as ‘illegal and irrational’. The core issue in the negotiations is whether Iran will stop […]

 
 

EU sanctions on Iran risk oil price hike

EU sanctions on Iran risk oil price hike

Iran faces oil export loses after the EU sanctions entered into full force on Sunday, pushing up oil prices as some exemptions on  contracts and insurance ended. There is also pressure on the Gulf nation to stop the nuclear-enrichment program. The sanctions now restrict the supply of Iran after supply […]

 
 

Iran dismisses ‘dastardly’ Western sanctions

Iran dismisses ‘dastardly’ Western sanctions

Iranian Oil Minister Rostam Qasemi sought to downplay a European Union embargo on country’s oil that came into effect on Sunday, insisting Tehran has stored up imports and hard currency for a “battle” against “dastardly” Western sanctions. Iranian Vice President Mohammad Reza Rahimi announced the Islamic Republic has stockpiled the population’s daily needs to reduce […]

 
 

Sanctions, civil strife pushes majority of Syrians into poverty

Sanctions, civil strife pushes majority of Syrians into poverty

An official report released suggested that poverty rates in Syria have gone up since last year’s uprising against President Bashar Al Assad. The findings said Syrians are enduring harsh economic conditions and are the primary victims of international sanctions. Western countries insist they imposed the economic embargo to topple the […]

 
 

Veil ban in France, Belgium breeding discrimination against women – Amnesty

Veil ban in France, Belgium breeding discrimination against women – Amnesty

European governments must do more to challenge the negative stereotypes and prejudices against Muslims fuelling discrimination especially in education and employment, a new report by Amnesty International demanded. The international human rights group accused France and Belgium of systematically denying education and jobs to Muslim women, mostly from Arab background, […]