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On January 24th, it was reported that a plenary meeting of the National Film Development Special Fund Management Committee was held in Beijing on January 23rd. The meeting emphasized that film is a spiritual and cultural product, and also a leading sector of the cultural industry, playing a vital role in promoting social and economic development, particularly consumption upgrading. It stressed the need to actively implement the requirements of the in-depth implementation of the special action to boost consumption, summarize the experience of the film economy in promoting consumption in recent years, and, under the guidance of the Ministry of Finance and the National Film Administration, carefully organize the pilot work of using the film special fund to support and promote film consumption. It also emphasized the need to strongly support provincial and municipal party committees and governments, as well as film authorities at all levels, to enrich the forms and expand the content of film-related consumption promotion activities according to local conditions, thereby improving the quality and efficiency of these activities and better stimulating film consumption and promoting market prosperity. The meeting pointed out that with the Spring Festival approaching, the focus should be on the Spring Festival film season, with a results-oriented approach, supporting various regions in carrying out diverse "film+" activities to revitalize the film economy and promote a booming holiday consumption.On January 24th, according to Dongan Power, Gu Jie, Vice President of XPeng Motors, led a core team to visit Dongan Power. Zhao Xingtian, Deputy General Manager of Dongan Power, along with heads of R&D, marketing, quality, and sales departments, accompanied them during the meeting. The two sides engaged in in-depth exchanges and reached a consensus on core issues such as the advancement of mass production projects and the development of next-generation engine technology.January 24th - Public discontent in Denmark over the USs demand for Greenland is spreading to supermarket shelves, and a mobile app that "helps" Danish consumers identify the country of origin of goods so they can refuse American products has recently become very popular in the country. Reportedly, an app called UdenUSA (meaning "No America") is gaining widespread popularity in Denmark. The app was developed by 21-year-old Dane Jonas Piper and his friend Malte Hensbel. Piper stated that many consumers want to avoid buying American-made food, but often find it difficult to identify the country of origin in supermarkets. The UdenUSA app addresses this need by indicating the country of origin for each product.On January 24, local time, an Iranian official stated that the Iranian military is prepared to respond to any possible actions by the United States. The unnamed official said, "The Iranian military is prepared for the worst-case scenario, but we hope that the troop increase will not escalate into actual confrontation." He added, "We consider any potential attack by the United States to be an existential threat to Iran." The official also warned the United States and Israel against such risky actions, stating, "The collapse of Iran would directly lead to the collapse of the region, including Israel." The official added, "Our situation is far better than during the 12-Day War; there is no longer any so-called surprise attack."On January 24th, it was reported that on December 24th of last year, four departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, issued the "Notice on Further Optimizing and Adjusting Relevant Policies of Beijing Real Estate," which involved adjustments to purchase restrictions and credit optimization. Overall, since the implementation of the new policy a month ago, transaction volume has been steadily increasing. Data from Centaline Property shows that since the release of the notice, the average daily number of new home sales contracts has increased by 44.6% month-on-month, with improved housing projects outside the Fifth Ring Road performing particularly well. In the secondary market, after the new policy, the average daily number of viewings at real estate agencies has increased by more than 20% compared to normal, and the average daily transaction volume of secondary homes has exceeded 500 units.

Traders Can Decide Whether Russian Commodity Trades Are Permitted in Switzerland

Aria Thomas

May 18, 2022 10:11

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The Swiss agency in charge of enforcing sanctions stated on Tuesday that trading firms can determine for themselves if commodity transactions with state-controlled Russian firms fit the "strictly necessary" threshold for avoiding international sanctions.


Last month, the State Secretariat for Economic Affairs (SECO) stated that it would determine on a case-by-case basis if such purchases complied with European Union sanctions enacted by Bern to punish the invasion of Ukraine.


A spokesperson for SECO noted that the sanctions ordinance still permits transactions that are strictly necessary to purchase, import, or transport natural gas, crude oil, and other raw materials from or through Russia to Switzerland, a member state of the European Economic Area, or the western Balkans.


According to the ordinance, "like in the EU, no previous authorization or approval by SECO is required for this in Switzerland," the agency told Reuters via email.


When asked if this meant that such transactions were not subject to Swiss investigation, the agency stated: "SECO is not required to provide an exemption. In contrast, whether the exception applies must be determined in the first instance by the economic participants themselves. Those with questions can contact SECO. This is likewise in accordance with EU regulations."


Even though purchases of Russian oil are still permitted in Europe, major global trading houses have reduced crude and fuel purchases from Russian state-controlled companies such as Rosneft and Gazpromneft to avoid potentially falling foul of EU sanctions under the "strictly necessary" clause that goes into effect in mid-May.


This month, the European Commission suggested an oil embargo against Russia, but EU foreign ministers were unable to convince Hungary to withdraw its veto on Monday.


Switzerland, which has stated that it will accept EU sanctions against Russia, is a key trading center for Russian goods.


Russia refers to its invasion of Ukraine as a unique military operation to disarm the neighbor.