• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
  • Election 2020
  • Contact
Tuesday, August 9, 2022
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Economy

UK and EU expected to announce Brexit trade deal today

2 years ago
in Economy, highlights, Home, home-news, latest News
2 min read
0 0
0
12
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

The Irish Foreign Minister said a post-Brexit trade deal is expected Thursday, after a “last-minute hitch” delayed an announcement.

Simon Coveney told RTE radio it will be an “enormous relief” when the deal is finally announced.

The timing of an announcement remains unclear, however, with Reuters at midday London time citing an EU and a U.K. official saying the deal could still be “hours away.” Press conferences slated for early Thursday were delayed as both sides finalized the “small text” of an agreement on fishing rights, Coveney said.

The British currency continued its move higher Thursday to trade close to levels not seen for 31 months. Sterling rose 0.8% to around $1.3593, after earlier reaching a session high of $1.3616.

The FTSE 100 rose 0.5% when markets opened, but slipped into the red as the morning progressed.

Officials on both sides said Wednesday they were optimistic about the chances of a deal, but that issues remained. It came after EU chief Brexit negotiator Michel Barnier said Tuesday that the bloc was making a “final push” to strike a Brexit trade deal with Britain ahead of Dec. 31.

“We are really in a crucial moment,” Barnier told reporters on his way to brief 27 ambassadors. “We are giving it a final push.”

RelatedPosts

The most memorable heavyweight fights of all time

Tamale City secure promotion to Ghana Premier League

U.S. okays first Boeing 787 Dreamliner delivery since ’21 – Sources

Yields on U.K. and U.S. government bonds dipped on Thursday after rising sharply the day before on hopes of a deal. Bond yields move inversely to prices.

Stumbling blocks

Some 47 years after joining the European Union, Britain officially left the bloc on Jan. 31, 2020. In doing so, it became the first ever nation to leave the EU.

Leaders were given 11 months to agree on the rules that will dictate life for the U.K. and Europe after Brexit, with a deadline for a trade agreement set for Dec. 31.

If Britain and the EU fail to agree on a deal by that date, then both sides could impose border checks and import taxes on each other’s goods, as trade will revert to World Trade Organization terms.

This could lead to higher costs for businesses on both sides of the English Channel.

Several stumbling blocks have delayed talks since March, including major disagreements over fishing and competition rules.

Fishing rights appear to be the major issue still to be overcome Thursday.

The EU wants to maintain access for its fishing fleets to U.K. waters, while the U.K. wants to largely curb these fishing rights. A no-deal scenario could see EU access to U.K. waters end abruptly, and vice versa, and the U.K. has already threatened to deploy gunboats to protect British waters.

There are concerns that some fishing fleets could ignore any restrictions, leading to clashes. These are not unheard of: British and French fishing fleets have engaged in “scallop wars,” in recent years amid disputes over fishing.

Another point of contentionhas been over what sort of regulations the U.K. will adopt once the transition period is over. The issue is particularly important for the EU, which is worried about being undercut if the U.K. reduces food standards and similar regulations significantly.

    Source: cnbc
    Via: norvanreports
    Tags: BrexitEUUK
    No Result
    View All Result

    Highlights

    Fixed Income Market: Gov’t exceeds auction target of GHS 1,153 million

    GSE-CI closes at 2,389 points, returns -14.34% YTD

    2022 Commonwealth Games: Ghana bags five medals as games come to an end

    India’s international tourism to surpass $42 billion by 2024 – Report

    Domestic Airfares to remain elevated in the medium term – Expert

    GPL Play-offs: Tamale City to face Ebusua Dwarfs in final game

    Trending

    Features

    The most memorable heavyweight fights of all time

    August 9, 2022

    The most memorable heavyweight fights of all time Boxing history is littered with fights that have achieved...

    Tamale City secure promotion to Ghana Premier League

    August 9, 2022

    U.S. okays first Boeing 787 Dreamliner delivery since ’21 – Sources

    August 9, 2022

    Fixed Income Market: Gov’t exceeds auction target of GHS 1,153 million

    August 9, 2022

    GSE-CI closes at 2,389 points, returns -14.34% YTD

    August 9, 2022

    Who we are?

    NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

    NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

    © 2020 Norvanreports – credible news platform.
    L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-0207794850 E: news@norvanreports.com info@norvanreports.com
    All rights reserved we display professionalism at all stages of publications

    No Result
    View All Result
    • Home
    • Business
      • Agribusiness
      • Aviation
      • Energy
      • Insurance
      • Manufacturing
      • Real Estate
      • Maritime
      • Tourism
      • Transport
      • Banking & Finance
      • Trade
      • Markets
    • Economy
    • Reports
    • Technology
      • Cryptocurrency
      • Cyber-security
      • Social Media
      • Tech-guide
      • Telecom
    • Features
      • Interviews
      • Opinions
    • Lifestyle
      • Entertainment
      • Sports
      • Travel
      • Environment
      • Weather
    • NRTV
      • Audio
      • Video

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Create New Account!

    Fill the forms bellow to register

    All fields are required. Log In

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    error: Content is protected !!
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.