UK Prime Minister Boris Johnson has agreed on a new trade deal with New Zealand Prime Minister Jacinda Ardern to reduce taxes on business worth more than £2 billion a year.
The agreement would “remove barriers to trade and deepen access for our advanced tech and services companies”, the Department for International Trade (DIT) said.
In New Zealand, tariffs on some UK goods are as high as 10 per cent. High quality New Zealand consumer goods are also slammed with taxes in the UK.
“This is great trade deal for the United Kingdom, cementing our long friendship with New Zealand and furthering our ties with the Indo-Pacific,” Mr Johnson said.
“It will benefit businesses and consumers across the country, cutting costs for exporters and opening up access for our workers.”
The UK signed a similar deal with Australia in June, which was the first deal negotiated from scratch after Britain left the EU.
Trade between the UK and New Zealand was worth £2.3 billion last year, and the DIT said it was set to grow under the new deal, which was reached after 16 months of negotiation.
“This is a fantastic week for Global Britain. On Tuesday, we raised almost £10 billion in investment for the industries of the future, and this new deal will help drive green growth here and on the other side of the world in New Zealand,” Mr Johnson said.
The Government said that UK workers such as lawyers and architects will also be able to work in New Zealand more easily.
“The United Kingdom and New Zealand are great friends and close partners. The historical connections that bind us run deep,” Ms Ardern said.
“This world-leading free trade agreement lays the foundations for even stronger connections as both countries embark on a new phase in our relationship. It is good for our economies, our businesses and our people.”
However, shadow trade secretary Emily Thornberry said the deal failed at every level, including for British farmers.
“According to the Government's own figures, this deal will cut employment in our farming communities, produce zero additional growth, and generate just £112 million in additional exports for UK firms compared to pre-pandemic levels. …
“It is a deal whose only major winners are the mega-corporations who run New Zealand's meat and dairy farms, all at the expense of British farmers who are already struggling to compete. But for British jobs, growth and exports, this deal is yet another massive failure.”
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The specs
- Engine: 3.9-litre twin-turbo V8
- Power: 640hp
- Torque: 760nm
- On sale: 2026
- Price: Not announced yet
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The specs: 2018 Renault Koleos
Price, base: From Dh77,900
Engine: 2.5L, in-line four-cylinder
Transmission: Continuously variable transmission
Power: 170hp @ 6,000rpm
Torque: 233Nm @ 4,000rpm
Fuel economy, combined: 8.3L / 100km
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BIGGEST CYBER SECURITY INCIDENTS IN RECENT TIMES
SolarWinds supply chain attack: Came to light in December 2020 but had taken root for several months, compromising major tech companies, governments and its entities
Microsoft Exchange server exploitation: March 2021; attackers used a vulnerability to steal emails
Kaseya attack: July 2021; ransomware hit perpetrated REvil, resulting in severe downtime for more than 1,000 companies
Log4j breach: December 2021; attackers exploited the Java-written code to inflitrate businesses and governments
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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THE SPECS
GMC Sierra Denali 1500
Engine: 6.2-litre V8
Transmission: 10-speed automatic
Power: 420hp
Torque: 623Nm
Price: Dh232,500
Yemen's Bahais and the charges they often face
The Baha'i faith was made known in Yemen in the 19th century, first introduced by an Iranian man named Ali Muhammad Al Shirazi, considered the Herald of the Baha'i faith in 1844.
The Baha'i faith has had a growing number of followers in recent years despite persecution in Yemen and Iran.
Today, some 2,000 Baha'is reside in Yemen, according to Insaf.
"The 24 defendants represented by the House of Justice, which has intelligence outfits from the uS and the UK working to carry out an espionage scheme in Yemen under the guise of religion.. aimed to impant and found the Bahai sect on Yemeni soil by bringing foreign Bahais from abroad and homing them in Yemen," the charge sheet said.
Baha'Ullah, the founder of the Bahai faith, was exiled by the Ottoman Empire in 1868 from Iran to what is now Israel. Now, the Bahai faith's highest governing body, known as the Universal House of Justice, is based in the Israeli city of Haifa, which the Bahais turn towards during prayer.
The Houthis cite this as collective "evidence" of Bahai "links" to Israel - which the Houthis consider their enemy.
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Killing of Qassem Suleimani
Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
The five pillars of Islam
