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TRADE WAR | Page 2 China plans to suspend extra tariff s on US cars Saturday, December 15, 2018 Rabia II 8, 1440 AH FRESH CHALLENGE : Page 4 New problems for GULF TIMES embattled BUSINESS Huawei in France Ministry of Commerce and Industry wraps up workshop on trade negotiations skills The Ministry of Commerce and Industry on the objectives of Qatar National Vision 2030 and Thursday wrapped up an advanced workshop on is considered as one of the leading negotiation trade negotiations skills, with the participation training courses off ered by the WTO to member of the Ministry of Foreign Aff airs, the Ministry of states. Municipality and Environment, the Qatar Central The workshop was attended by Dickson Yeboah, Bank and Qatar Development Bank. WTO’s Head of Intensive Trade Negotiations Skills The workshop was organised within the framework Unit, and Simon Hess, a negotiating expert at the of the ministry’s eff orts to build and develop the WTO. negotiations skills of trade negotiators and experts The speakers discussed trade negotiations across Qatar by stimulating bilateral, regional and strategies and approaches, and shed light on the multilateral trade negotiations. development stages of the trading system (from The workshop aims to prepare negotiators and GATT to today). Both speakers also provided an experts to engage in free trade negotiations with overview of the trade in services negotiations trade partners and other countries on the bilateral in addition to the support provided for the or regional level, and in multilateral negotiations at development of fisheries. the World Trade Organisation (WTO) level. They discussed ways to improve the participants’ It came as part of the training and development understanding of trade negotiations, covering plan within the framework of WTO-related all stages of the negotiations process, from agreements and is off ered in collaboration with the consultation stage to actual negotiations. the Geneva-based WTO. The workshop off ers Discussions also touched on technical concepts Participants at the Ministry of Commerce and Industry’s advanced workshop on trade negotiation skills. high quality training for employees in line with and special safeguard mechanism in agriculture. Eurozone growth shudders on global trade worries, anti-govt protests in France EU leaders agree on and sentiment show demand AFP Paris growth is stalling, he added. The flash reading of Germany’s composite PMI dipped by a Global trade war fears and tenth of a percentage point to disruptions caused by anti- 52.2. government protests in France Michael Hewson, chief market pushed business growth in the analyst at CMC Markets UK, specifi c budget for eurozone to a four-year low in said the survey results showed December, an influential survey the risks of a recession in the showed yesterday, raising eurozone have risen, and “have concerns the region’s economy put into sharp contrast the might stall. ECB’s decision to stop its asset The slide in IHS Markit’s purchase program at the end of composite eurozone PMI, to this month”. 51.3 points from 52.7 points The ECB announced Thursday single currency bloc in November, came just a day it would halt its purchases after the European Central of eurozone bonds later this AFP months of stop-start negotiations. weakened by anti-government protests economic situation, mentioning that Bank pulled its extraordinary month, as expected. Brussels “This comprehensive package paves back home, has hailed the plans as a there was “continuing confi dence with support that has stoked growth The scheme – also known as the way for a signifi cant strengthen- symbolic breakthrough towards a more increasing caution”. Growth was lower in the single currency area for “quantitative easing” (QE) – has ing of the European Monetary Union,” a closely-knit European Union. than before, the ECB revised down the the past three years. seen the ECB buy €2.6tn ($3tn) U leaders yesterday agreed on a statement from the leaders said. The new budget scheme has no hard growth outlook three times this year, While the reading above 50 of government and corporate series of reforms to the eurozone The proposals are meant to strength- fi gure attached and will be linked to the he said, adding wages were growing in points indicates business is debt since 2015 to ward off the Ethat includes plans for a specifi c en the fi nancial plumbing of the Euro- seven-year overall EU budget that will many countries. still expanding, IHS Markit said threat of catastrophic deflation budget for the single currency bloc, pean economy, but ignore far grander be negotiated by the 27 member states Draghi welcomed work done on deep- new business inflows almost – a crippling downward spiral of German Chancellor Angela Merkel said. visions such as designating a eurozone over the next year. er eurozone integration by eurozone stalled, job creation slipped to prices and activity. After a “controversial discussion” at fi nance minister or setting up a Euro- “The features of the budgetary in- fi nance ministers and said that a new a two-year low and business “If ECB President Mario Draghi an EU summit, leaders agreed on reform pean version of the International Mon- strument will be agreed in June 2019,” budgetary instrument, which the lead- optimism deteriorated. is correct as he said yesterday, measures that “includes a budget for the etary Fund. the statement said. ers said be to boost competitiveness and “An undercurrent of slowing that QE has been the only eurozone,” Merkel said after 27 EU lead- France considers the eurozone budget The President of the european Central convergence, was a step forward. economic growth was driver of recovery in certain ers, not including Britain, discussed the the centrepiece of the proposals, but in bank Mario Draghi told European Union But he noted that it was important exacerbated by protests in parts of the euro area, surely measure in Brussels. the fi nal decision, it is referred to as as leaders yesterday that growth was slow- that governments played by EU budget France and on-going weak you have to question the The EU heads of state and govern- a budgetary “instrument” in order to er than previously forecast and urged rules, which limit the size of budget def- demand for autos,” said the wisdom behind the decision to ment, minus Britain, were working from soothe the anxieties of fi scal hardliners them to move ahead with reforms of the icits and public debt and urged progress financial data firm. not only reduce but to end it,” proposals thrashed out by ministers dur- the Netherlands. euro zone, one offi cial said. on completing the banking union that The survey for France showed added Hewson. ing marathon talks last week, capping 18 French President Emmanuel Macron, Draghi briefed the leaders about the misses an EU deposit guarantee scheme. business there had flipped into On Thursday, the ECB trimmed reverse, as the index plunged its forecasts for eurozone to 49.3 in December from 54.2 growth, but the central bank in November. The country has still sees a modest expansion been swept by opposition to of 1.7% in each of the coming fuel taxes that have snowballed two years. into broad protests against Eurozone growth withered President Emmanuel Macron’s to 0.2% in the third quarter, pro-business agenda and his but analysts had expected it style of governing. to rebound, as the slowdown “While some of the slowdown was due in part to exceptional reflected disruptions to factors such as a drop in auto business and travel arising sales and manufacturing due from the ‘yellow vest’ protests to the introduction of new in France, the weaker picture pollution tests. also reflects growing evidence “Even though the PMI is still that the underlying rate of signalling output growth, the economic growth has slowed question is whether growth across the euro area as a has even picked up at all whole,” said IHS Markit’s Chief despite one-off s aff ecting the Business Economist Chris third-quarter reading,” said Williamson. Bert Colijn, senior eurozone “Companies are worried about economist at ING Bank. the global economic and “While the ECB was relatively political climate, with trade optimistic about the growth wars and Brexit adding to outlook yesterday, today’s PMI increased political tensions adds to the worries” about the within the euro area,” he added. eurozone economy, he added. The data point to a weak The main eurozone stock economic expansion of 0.3% in markets, which opened lower the final quarter of the year for on disappointing Chinese the eurozone, he said. economic data, shed more But December’s data alone than one percentage point in show GDP growth is slowing to morning trading. a 0.1% rate, and forward-looking Meanwhile the euro slid to German Chancellor Angela Merkel takes part in a European Union leaders summit in Brussels. EU leaders yesterday agreed on a series of reforms to the eurozone that includes information such as orders under $1.13. plans for a specific budget for the single currency bloc, Merkel said. Gulf Times 2 Saturday, December 15, 2018 BUSINESS Asian LNG prices snap China to suspend extra three-week losing streak as winter tariff s on US cars, parts kicks in AFP Reuters Beijing Singapore hina pressed on with its trade Asian spot prices for liquefied war truce with the United States natural gas (LNG) snapped a Cyesterday, announcing it will three-week losing streak to suspend extra tariff s added to US-made end higher this week, with the cars and auto parts for three months onset of winter expected to from January 1.

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