The EU and China announced a major investment accord on Wednesday, despite pleas from US president-elect Joe Biden's aides to Brussels to hold off and co-ordinate policies with his administration next year.
Ursula von der Leyen and Charles Michel, presidents of the EU Commission and Council, held a video call with China's President Xi Jinping to "conclude in principle the negotiations" on the pact.
After the meeting, German Chancellor Angela Merkel and France's President Emmanuel Macron were due to join the call with Mr Xi for what a European official called "an exchange of views".
The pact, which is expected to take months before it is finalised and fully ratified as a legal text, would boost ties between two of the world's biggest economies.
But the end-of-year rush to conclude the political part of the agreement could upset Mr Biden as he prepares to enter the White House, hoping to co-ordinate with his western allies.
Europe has long sought to increase access for its companies to China's vast markets, but Beijing's alleged lack of respect for international labour standards was a final hurdle to an agreement.
Brussels insists the Comprehensive Agreement on Investment is the "most ambitious" anyone has convinced China to sign.
It lowers barriers for EU businesses, bolsters fair competition and strengthens commitments to sustainable development.
The bloc says it has managed to have Beijing agree to "continued and sustained efforts" to ratify International Labour Organisation conventions on forced labour.
But European legislators expressed major concerns that there is no way to compel China to make good on that vow.
They accuse Beijing of running a "government-led system of forced labour" against the Uighur and other Muslim minorities in Xinjiang province.
"EU leaders do know that the CAI language on ILO and forced labour is not worth the ink. They are not stupid," Reinhard Butikofer, head of the European Parliament's delegation on China, wrote on Twitter.
Members of the European Parliament said the outline deal, which comes on the same day as the bloc signs its farewell trade pact with Britain, is being rushed through by leading economy Germany before its rotating EU presidency ends.
China pushed past the US in the third quarter this year to become the EU's top trade partner as the Covid-19 pandemic disrupted the American economy while Chinese activity rebounded.
The political accord comes just weeks before Mr Biden will be sworn in as US president, and with his team expressing concern over the EU's outreach to Beijing and urging Brussels to consult with Washington.
While the EU takes a softer approach on China, departing US President Donald Trump has carried out a trade war to batter Beijing into concessions.
Despite vast differences with his predecessor on many issues, Mr Biden looks set to continue a tough line, although he is looking to forge a more multinational front to tackle Beijing.
The EU insists the investment agreement with China, which it regards as a "systemic rival", will not hamper its relations with the new US administration and says that in part it matches the "Phase 1" trade deal Mr Trump signed with Beijing in January 2020.
The bloc says the deal, which it began negotiating in 2013, helps to rectify what it considers to be the long-standing imbalance in the way Brussels and Beijing treat investors and the access they allow them.
It also says it secured guarantees from China on key European concerns by ending obligations to transfer technology, reinforcing respect for intellectual property, strengthening Beijing's environmental commitments and addressing state subsidies.
While the deal should pave the way for EU companies to make inroads in areas including China's electric car, health, telecoms and financial services sectors, it also looks set to open up Europe's renewable energy market to Beijing.
But an EU official said the agreement would still allow individual member states to block access to Chinese companies for reasons of national security.
The preliminary agreement is likely to take months to be worked into shape by legal teams and translated, and it will then have to be ratified by the EU's 27 member states and approved by the European Parliament.
UAE currency: the story behind the money in your pockets
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
The Ashes
Results
First Test, Brisbane: Australia won by 10 wickets
Second Test, Adelaide: Australia won by 120 runs
Third Test, Perth: Australia won by an innings and 41 runs
Fourth Test: Melbourne: Drawn
Fifth Test: Australia won by an innings and 123 runs
THE DETAILS
Director: Milan Jhaveri
Producer: Emmay Entertainment and T-Series
Cast: John Abraham, Manoj Bajpayee
Rating: 2/5
WHAT%20IS%20THE%20LICENSING%20PROCESS%20FOR%20VARA%3F
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Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
The specs
Engine: Dual 180kW and 300kW front and rear motors
Power: 480kW
Torque: 850Nm
Transmission: Single-speed automatic
Price: From Dh359,900 ($98,000)
On sale: Now
'Gehraiyaan'
Director:Shakun Batra
Stars:Deepika Padukone, Siddhant Chaturvedi, Ananya Panday, Dhairya Karwa
Rating: 4/5
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65
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UAE currency: the story behind the money in your pockets
The biog
Favourite food: Tabbouleh, greek salad and sushi
Favourite TV show: That 70s Show
Favourite animal: Ferrets, they are smart, sensitive, playful and loving
Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can
Name of first pet: Eddy, a Persian cat that showed up at our home
Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
'The Woman in the House Across the Street from the Girl in the Window'
Director:Michael Lehmann
Stars:Kristen Bell
Rating: 1/5
Super 30
Produced: Sajid Nadiadwala and Phantom Productions
Directed: Vikas Bahl
Cast: Hrithik Roshan, Pankaj Tripathi, Aditya Srivastav, Mrinal Thakur
Rating: 3.5 /5
MATCH INFO
Uefa Champions League, semi-final result:
Liverpool 4-0 Barcelona
Liverpool win 4-3 on aggregate
Champions Legaue final: June 1, Madrid
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Specs
Engine: 51.5kW electric motor
Range: 400km
Power: 134bhp
Torque: 175Nm
Price: From Dh98,800
Available: Now
Drishyam 2
Directed by: Jeethu Joseph
Starring: Mohanlal, Meena, Ansiba, Murali Gopy
Rating: 4 stars
UAE currency: the story behind the money in your pockets
Dubai Rugby Sevens
November 30-December 2, at The Sevens, Dubai
Gulf Under 19
Pool A – Abu Dhabi Harlequins, Jumeirah College Tigers, Dubai English Speaking School 1, Gems World Academy
Pool B – British School Al Khubairat, Bahrain Colts, Jumeirah College Lions, Dubai English Speaking School 2
Pool C - Dubai College A, Dubai Sharks, Jumeirah English Speaking School, Al Yasmina
Pool D – Dubai Exiles, Dubai Hurricanes, Al Ain Amblers, Deira International School
Killing of Qassem Suleimani
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Important questions to consider
1. Where on the plane does my pet travel?
There are different types of travel available for pets:
- Manifest cargo
- Excess luggage in the hold
- Excess luggage in the cabin
Each option is safe. The feasibility of each option is based on the size and breed of your pet, the airline they are traveling on and country they are travelling to.
2. What is the difference between my pet traveling as manifest cargo or as excess luggage?
If traveling as manifest cargo, your pet is traveling in the front hold of the plane and can travel with or without you being on the same plane. The cost of your pets travel is based on volumetric weight, in other words, the size of their travel crate.
If traveling as excess luggage, your pet will be in the rear hold of the plane and must be traveling under the ticket of a human passenger. The cost of your pets travel is based on the actual (combined) weight of your pet in their crate.
3. What happens when my pet arrives in the country they are traveling to?
As soon as the flight arrives, your pet will be taken from the plane straight to the airport terminal.
If your pet is traveling as excess luggage, they will taken to the oversized luggage area in the arrival hall. Once you clear passport control, you will be able to collect them at the same time as your normal luggage. As you exit the airport via the ‘something to declare’ customs channel you will be asked to present your pets travel paperwork to the customs official and / or the vet on duty.
If your pet is traveling as manifest cargo, they will be taken to the Animal Reception Centre. There, their documentation will be reviewed by the staff of the ARC to ensure all is in order. At the same time, relevant customs formalities will be completed by staff based at the arriving airport.
4. How long does the travel paperwork and other travel preparations take?
This depends entirely on the location that your pet is traveling to. Your pet relocation compnay will provide you with an accurate timeline of how long the relevant preparations will take and at what point in the process the various steps must be taken.
In some cases they can get your pet ‘travel ready’ in a few days. In others it can be up to six months or more.
5. What vaccinations does my pet need to travel?
Regardless of where your pet is traveling, they will need certain vaccinations. The exact vaccinations they need are entirely dependent on the location they are traveling to. The one vaccination that is mandatory for every country your pet may travel to is a rabies vaccination.
Other vaccinations may also be necessary. These will be advised to you as relevant. In every situation, it is essential to keep your vaccinations current and to not miss a due date, even by one day. To do so could severely hinder your pets travel plans.
Source: Pawsome Pets UAE
UAE currency: the story behind the money in your pockets
War 2
Director: Ayan Mukerji
Stars: Hrithik Roshan, NTR, Kiara Advani, Ashutosh Rana
Rating: 2/5
The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Red flags
- Promises of high, fixed or 'guaranteed' returns.
- Unregulated structured products or complex investments often used to bypass traditional safeguards.
- Lack of clear information, vague language, no access to audited financials.
- Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
- Hard-selling tactics - creating urgency, offering 'exclusive' deals.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
The specs
Price, base / as tested Dh1,100,000 (est)
Engine 5.2-litre V10
Gearbox seven-speed dual clutch
Power 630bhp @ 8,000rpm
Torque 600Nm @ 6,500rpm
Fuel economy, combined 15.7L / 100km (est)
'Midnights'
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