Business

European farmers stage new protests over heavy EU regulations, cheap imports

Published

3 months ago

10/02/2024

ROME/WARSAW, Feb. 9 (Xinhua) — Farmers in Italy, Poland, Spain and Bulgaria have staged new protests this week against excessively restrictive European Union regulations and cheap imports from non-EU countries.

In Italy on Friday, a convoy of tractors drove past the historical center of Rome, bearing national flags and slogans such as “Without farmers: no food, no future” and “End payment for not growing crops.”

“We have our priorities and we have followed the rules, and now we expect our priorities to be taken seriously by the authorities,” Salvatore Fais, leader of Agricultural Redemption, the organizer of the protest, told Xinhua.

Hours later, Italian Prime Minister Giorgia Meloni met with farmer representatives and announced that personal income tax exemptions would be extended to those with an annual income of up to 10,000 euros (10,800 U.S. dollars).

In Poland, farmers also took to the streets on Friday, blocking off roads and the border crossings with Ukraine, in protest against EU farming policies and cheap imports from Ukraine.

The demonstration is planned to last for 30 days. Poland’s Agriculture and Rural Development Minister Czeslaw Siekierski said he would support the implementation of a “complete” import ban on product categories if necessary.

He mentioned sugar and poultry as potential targets due to concerns about the excessive influx of such products from Ukraine.

Friday is the fourth day of protests by Spanish farmers, who have been blocking several streets, highways and ports across the country and announced plans to gather in Madrid. A convoy of tractors bearing Spanish flags disrupted the traffic on the A-2 highway to Madrid near the central town of Torija during the daytime.

Spanish media reported that the farmers railed against the EU’s environmental rules and what they called as excessive taxes and red tape.

On Thursday morning, Bulgarian farmers’ protests blocked the outbound traffic at the Giurgiu Border Crossing Point on the Romania side. The blockade lasted approximately four hours, according to the Giurgiu Border Police Territorial Inspectorate.

According to Bulgaria media, the nationwide demonstrations by farmers and agricultural workers in Bulgaria started on Tuesday and stemmed from concerns over cheap imports from Ukraine.

Farmers have staged demonstrations across Europe in recent weeks to protest against low produce prices, rising costs, cheap imports and constraints linked to the EU’s policies against climate change. They are demanding action by the authorities.

The European Commission has made some concessions over the last few weeks, including withdrawing plans to halve the use of pesticides and other dangerous substances. Nonetheless, the protests have continued.

Source(s): Xinhua

Business

CWEIC office to establish in Maldives, Janah as Chair

Published

19 hours ago

16/05/2024

Commonwealth Enterprise and Investment Council (CWEIC) has announced decision to establish its office in the Maldives, and appoint President Dr. Mohamed Muizzu’s Principal Advisor Mohamed Ali Janah as its Country Chair.

CWEIC in a statement on Thursday, said the office will be established to connect the Maldives government with international investors and businesses.

The Maldives hub office of CWEIC will play a vital role in seeking prospective investment opportunities from all 56-member nations of the Commonwealth. The office will also enhance strategic alliances and partnerships between these countries and the Maldivian government.

Veteran entrepreneur, Janah boasts of over 30 years of business relations with the Middle East.

Source(s): sun.mv

Business

Dubai company awarded the development of SEZ

Published

5 days ago

12/05/2024

An agreement has been signed by the Maldivian administration with UAE’s International Free Zone Authority (IFZA) to develop Special Economic Zones (SEZ) in the Maldives.

The agreement, officially co-signed by Minister of Economic Development and Trade Mohamed Saeed and IFZA Chairman Martin Gregers Pedersen during a special ceremony, marks a significant milestone in economic development.

Speaking at the ceremony, Minister Saeed emphasized the timeline for finalizing the agreement, committing to reach a consensus within the next four months. As part of the agreement, Fonadhoo in Kaafu Atoll will be transformed into a financial hub, featuring a new financial center and a bridge connecting Male’ and Hulhule. IFZA will bear the expenses for these developments.

The Ministry of Economic Development and Trade further highlighted plans for the Economic Gateway project in Ihavandhippolhu, aiming to attract investors with IFZA’s expertise. Addressing the attendees, Chairman Pedersen expressed confidence in the success of the project, underscoring collaborations with investors to further enhance opportunities in the Maldives.

The development of SEZs remarkably aligns with the President Dr. Mohamed Muizzu’s vision to diversify the economy and stimulate financial growth. The Maldivian administration is optimistic about attracting future investments and positioning the country as a desirable destination for business opportunities.

Source(s): PsmNews

Business

Over USD 713M generated attributing to revenue increasing by 3.7%

Published

6 days ago

11/05/2024

Ministry of Finance has revealed a remarkable surge in the government’s revenue generated as of April 25, which exceeds USD713 million. The latest weekly fiscal report publicised by the ministry indicates that this contributes to a 3.7% increase in revenue in comparison to the revenue of USD693 million, generated within the same period, in 2023.

The fiscal report shows that the revenue comprises USD 596 million in tax revenue, USD116 million in non-tax revenue, and USD3 million in aid received. Tax earnings include import duty, business and property tax (BPT), goods and services tax (GST), as well as earnings from GST. The breakdown of revenue generation includes USD45 million from import duties, USD168 million from BPT, USD330 million from GST, USD24 million from green tax, USD22.6 million from airport service charges, and departure tax.

Expenditures until April 25 totalled USD817 million, with USD629 million allocated to recurrent expenses and USD181 million to capital expenditures. This represents a significant reduction in expenditures compared to the USD244 million spent by the government in 2023, during the corresponding timeframe. Recurrent expenses cover USD207 million for salaries and allowances and USD408 million for administrative work. Meanwhile, capital expenditure primarily encompasses expenses related to structural development.

Source(s): PsmNews