Latest News
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China extends license age limitation for truck, bus motorists as population ages
China will extend licence age limitations for motorists of mediumsized and big buses also as trucks, as part of broader efforts to attend to the obstacles positioned by an aging population, falling birth rate and a shrinking labour swimming pool. Keeping older transportation workers on the payroll will be essential to helping preserve stability throughout China's huge transportation system in the medium-term as the sector prepares to embrace more self-governing vehicles. Just over a years back, the capital Beijing enabled male bus drivers to retire five years earlier - at the age of 55 - for health factors, as it was concerned about operational safety. China has given that reversed course due to its decreasing work force. From next year, the optimum age that an individual can obtain a licence to drive and run a medium-sized or big buses, as well as trucks will be raised to 63 from 60, the Public Security Ministry stated in a declaration on Friday. Drivers over 63 can also look for a licence extension of up to 3 years, supplied they pass medical examinations and tests on memory, situational judgment and reaction time. Earlier this year, China's leading legislative body passed a. proposal to raise the national retirement age in a historical. move. Male will retire at 63 rather of 60, while ladies in white. collar work will retire at 58 instead of 55. For females in blue. collar work, the retirement age will be increased to 55 from 50. China's retirement age is currently among the lowest. globally. The modifications, due to take effect on Jan. 1 and be implemented. over a 15 year duration, will bring China more in line with. local peers such as Japan and South Korea, which are likewise. grappling with falling fertility rates and aging employees.
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Mali reports that at least 69 migrants have died after a boat capsized off the coast of Morocco on December 19, Mali.
Malian authorities reported that at least 69 people, including 25 Malians, died after a boat heading from West Africa to Spain capsized near Morocco on December 19. Around 80 people were on board the makeshift boat when it capsized. The Ministry of Malians Abroad said that only 11 people survived the accident in a Thursday statement after gathering information to reconstruct it. It added that a crisis unit was set up to monitor and report on the situation. This year, the Atlantic migration route, which is usually used by African migrants to reach Spain from the coasts of West Africa and the Canary Islands has seen an increase. People attempt to cross the border for a variety of reasons, including the conflict in the Sahel region, which includes Mali. They also do so because of unemployment and climate change's impact on the farming communities. This route, which traces Mauritania's and Morocco's Atlantic coasts up to Spain is one of the deadliest in the world. Walking Borders, a group that advocates for migrants' rights, reported in June that 5,000 migrants would die at sea trying to reach Spain in the first five month of 2024. (Reporting and writing by Fadimata Kotao; editing by Sharon Singleton.)
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Romanian radar detects likely drone breaching area, ministry says
Romania's radar systems detected late on Thursday a small flying things, likely a drone, breaching nationwide airspace up to 6 km inland in the southeastern county of Tulcea, the defence ministry said. The European Union and NATO state, which shares a 650 km ( 400 mile) border with Ukraine, has actually had Russian drone pieces fall on its territory repeatedly over the previous year and a half as Moscow attacks Ukrainian port infrastructure. The ministry said the radar initially got the signal at 1904 GMT, 15 km east of Chilia Veche in Tulcea County. It informed the population of the county to take cover and started procedures to scramble fighter jets, but the radar lost the signal at 1909 GMT. There is no info about a possible target effect on national territory, the ministry stated. In October, radar picked up a number of drone signals on separate days breaching Romanian airspace, with fighter jets not able to see them and no crash sites identified, and officials stated the events might have been examples of cyber disturbance.
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Bangladesh problems tender to purchase 50,000 T of rice, traders say
Bangladesh's state grains buyer has actually provided another international tender to buy 50,000 metric lots of rice, traders stated on Friday. The due date for submission of rate deals is Jan. 9. A previously issued tender from Bangladesh likewise seeking 50,000 lots of rice closes on Jan. 1. The tender continues heavy rice acquiring by Bangladesh in global markets. Floods in Bangladesh in August and October this year ruined an estimated 1.1 million metric tons of rice, triggering the nation to broaden imports of the staple grain to cool increasing food rates. The new tender looks for price offers for non-basmati parboiled rice in CIF liner out terms, consisting of ship unloading costs, for shipment to the ports of Chattogram and Mongla. The rice can come from around the world origins and delivery is needed 40 days after agreement award.
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British Company - Dec 27
The following are the top stories on the business pages of British newspapers. Reuters has not verified these stories and does not guarantee their accuracy. The Times - UK's Safestay is planning to double the size of its portfolio as the hostel operator looks for to take advantage of the awaited boom in the worldwide market. The Guardian - UK's postal minister Gareth Thomas has spoken of his dissatisfaction that Fujitsu, the Japanese business behind the Horizon computer system, has refrained from doing more for those whose lives were destroyed in the Post Workplace scandal. The Telegraph - The UK plans to enforce a levy of 70 million pounds ($ 87.65 million) a year on tech business that have more than 250 million pounds in around the world earnings produced from services covered by the Online Safety Act for the costs of enforcing brand-new internet laws. Sky News - The UK federal government will introduce a plan that will offer grants of 20,000 pounds and upwards to non-profit food redistribution groups in England. The Independent - British officials are said to be bracing for the possibility that some independent schools will close when the policy to enforce barrel on school charges comes into impact in the new year.
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Last-minute bargain hunters send vacation retail sales higher than last year, Mastercard says
Priceconscious vacation buyers opened their wallets for lastminute online discounts on clothing and stocking stuffers, potentially benefiting sellers that also offered such hassle-free options as complimentary delivery and curbside pickup. The appeal of online shopping has actually risen due to its convenience, similar or lower costs than in-store, the availability of services like purchase online, get in-store ( BOPIS) and quick, free shipments, stated Michael Schulman, a. retail expert at Running Point Capital Advisors. The shortened holidays this year compared to. last year, with a tighter scrunch in between Thanksgiving and. Christmas, also left less time for in-store retail shopping and. most likely incentivized more phone and computer surfing and. purchases, he said. While there were offers aplenty, merchants appeared to have. been disciplined with promos. Target and Dollar. Tree's shares were up almost 3% in noon trading, while Walmart. was flat. According to a Mastercard SpendingPulse report, online. costs throughout the holiday shopping period from Nov. 1 to Dec. 24 grew by 6.7% over in 2015, compared to a 2.9% increase for. in-store sales. This added to a total costs increase of 3.8% over. 2023, going beyond the formerly forecast increase of 3.2% and. topping the 3.1% increase during the exact same duration in 2015. Steve Sadove, senior advisor to Mastercard and previous Saks. CEO and chairman, told Reuters that spending rose even when. higher rates due to inflation were factored in. He kept in mind that. the last five days of the holiday season accounted for 10% of. all vacation spending, showing a lot of strength in the end. With just 27 days in between Thanksgiving and Christmas-- five. less than last year - retail executives were less exuberant. going into the holiday season. They explained their customers as selective, mindful. and conservative, and making needs-based purchases. As a. outcome, lots of sellers doubled down on cutting prices and. offering promotions, Bernstein experts said previously this month. Walmart said it would continue to lower rates. through rollbacks, while competing Target said it would. increase its promotional strength as buyers were not as. engaged without promotions. Dollar General said it. anticipates profits to be pressured from increased promotions in the. fourth quarter, while Kroger and Five Below likewise. stated they had to lower costs to be competitive. Walmart and Target spent more on ads to reach consumers on. short-video app TikTok and streaming platforms like Peacock and. Hulu during the season, highlighting their membership programs. that deal fast delivery and BOPIS. Some of these efforts appear to have actually worked. Salesforce estimated that the number of BOPIS orders could. double throughout the weekend before Christmas, comprising nearly 40%. of all online orders for sellers. And deliveries are also. strong, with FedEx estimating stronger-than-expected. holiday shipment volume last week. REAL CONSUMER STRENGTH Huntsville, Alabama-resident Aireale Hobbs, 40, started. Christmas searching for pajama sets, Stanley drink tumblers, and. toys for her family online on Black Friday. She stated she chose to do a bulk of her shopping online. since of convenience, more choices and much better deals. I got some things from Target that were discounted when. using the app, said Hobbs, who operates at as a front desk clerk. at a physician's workplace. Laptop computers and TVs with brand-new innovation, lower rates and. growing acceptance of lab-grown diamonds, and athleisure clothing. also encouraged shoppers to spend this holiday, even. though promotions were at the very same levels as in 2015, Sadove. said. Promotions were managed. Nothing was additional deep and. there were no panicked promos. What we saw was some real. consumer strength, Sadove said, including that low unemployment. and greater incomes were buffering personal finances. Sales in the apparel, precious jewelry and electronic devices categories. were up 3.6%, 4% and 3.7%, respectively over last year,. according to Mastercard. Online sales of apparel, in particular,. grew 6.7%, compared to 0.2% in stores.
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Putin: There is no time for signing a new Ukraine gas transit agreement this year
Vladimir Putin, President of Russia, said that there is no time to sign another Ukrainian gas transit agreement this year. He blamed Ukraine for not extending the agreement which brings gas to Slovakia and Czech Republic. Putin added that Kyiv had punished Europe with its decision to not renew the contract. The current gas transit agreement between Russia and Ukraine, which runs for five years, expires at the end of this year. In a briefing televised, Putin stated that "there is no contract" and that it was impossible to complete it within 3-4 days. Russian gas is only a small part of the Russian gas that reaches Europe through Ukraine. In 2023, Russia will ship about 15 billion cubic meters (bcm), which is only 8% the peak Russian gas flow to Europe in 2018-19. The Soviet-era Urengoy-Pomary-Uzhgorod pipeline brings gas from Siberia via the town of Sudzha - which is now under control of Ukrainian military forces - in Russia's Kursk region. The gas then flows to Slovakia via Ukraine. The gas pipeline in Slovakia is split into branches that go to Austria and the Czech Republic. Putin said that Russia was ready to provide gas to any customer via Ukraine, but a lawsuit made this impossible. Putin reiterated that Russia is ready to provide gas to Europe through Poland via the Yamal-Europe pipeline.
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Endeavor Global's LNG tanker will likely head to Germany, LSEG data shows
U.S. melted gas (LNG). business Venture Global LNG's tanker Venture Bayou, currently. stationed at the Plaquemines LNG export plant in Louisiana, is. expected to head to Brunsbuttel, Germany and will likely get here. there by Jan. 8, according to LSEG data. The U.S. is the world's biggest exporter of the superchilled. gas and a key provider of gas to Europe in the wake of Russia's. intrusion of Ukraine. Plaquemines LNG just recently started producing first LNG and the. vessel's anticipated departure from the Louisiana plant likely. shows it is bring its very first LNG cargo. The business was. not immediately readily available for remark. The plant is already over budget by more than $ 2.35 billion and is expected to have an extended commissioning duration,. possibly postponing long-term client shipment until 2026. When completely completed Plaquemines will be among the. largest LNG plants worldwide and help keep the United States. ranked as the world's biggest LNG exporter.
Gazprom's gas output to increase to around 416 bcm in 2024
Alexei Miller, the head of Russia's Gazprom, stated on Thursday the group's natural gas production is set to increase this year by 61 billion cubic metres (bcm) to around 416 bcm.
The boost is from an all-time low production in loss-making 2023, when output plunged by 13% amid a fall in gas exports to Europe, when Gazprom's primary source of revenue, as relations with the West worsened over the conflict in Ukraine.
Gas exports to China are set to increase to 31 bcm this year, Miller stated, up from the scheduled 30 bcm.
The business has been in talks with China over a considerable increase in gas sales, consisting of via the Power of Siberia 2 pipeline. However, negotiations have actually not flourished due to a. number of problems, mainly costs.
Gazprom has actually instead turned to the low-priced domestic. market, in addition to neighbouring ex-Soviet nations, such as. Kazakhstan, Uzbekistan and Kyrgyzstan.
The business said on Thursday that gas materials to. domestic customers have reached a record high of 390 bcm in. 2024.
(source: Reuters)