Britain and the European Union have made progress towards a post-Brexit trade deal but might be unable to strike an agreement before the December 31 deadline, the UK’s top negotiator said on Sunday as he entered a critical round of new talks.
David Frost said there had been some movement recently but significant elements were yet to be agreed, less than seven weeks before the UK ends nearly five decades of economic and political ties with the continent.
“There has been some progress in a positive direction in recent days,” Mr Frost said on Twitter.
“We also now largely have common draft treaty texts, though significant elements are, of course, not yet agreed. We will work to build on these and get an overall agreement if we can. But we may not succeed.”
Several deadlines to strike a deal have already passed but talks started on Sunday in a last-ditch effort to reach agreement before the end of the year.
If no deal with the EU is reached by 2021, the UK will at a stroke sever its existing political and trade links with the EU.
The UK left the bloc at the end of January but signed up to a transitional pact until the end of the year to give businesses time to prepare for the major overhaul.
Employer organisations are pushing the government to strike a deal because of the expected heavy economic effect of Brexit, combined with the fallout from the Covid-19 pandemic. But talks have been stymied by issues including fishing rights and state aid.
Both sides “recognise that time is very short”, Environment Secretary George Eustice told Sky News on Sunday.
“This needs to be a week when things move, when we break through some of these difficult issues, and get a resolution, and at least have some sort of headlines of an agreement,” he said. “Otherwise it gets quite difficult and we do start to run out of time to implement it.”
Officials in Brussels insist that reaching a deal will require UK Prime Minister Boris Johnson to move first, a stance their British counterparts reject.
Irish Foreign Affairs Minister Simon Coveney said negotiators were running out of time, and “this is move week”.
Mr Johnson’s government has been embroiled in internal strife this week with his chief adviser Dominic Cummings – an arch-Brexiteer who led the campaign to leave the EU – resigning, along with another adviser, Lee Cain.
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When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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First Job: Abu Dhabi Department of Petroleum in 1974
Current role: Chairperson of Al Maskari Holding since 2008
Career high: Regularly cited on Forbes list of 100 most powerful Arab Businesswomen
Achievement: Helped establish Al Maskari Medical Centre in 1969 in Abu Dhabi’s Western Region
Future plan: Will now concentrate on her charitable work
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
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What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
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