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Real-time News
Hang Seng Index futures closed down 0.95% at 25,735 points in overnight trading, a discount of 242 points.December 13th - According to sources, trade negotiators from India and the EU are no longer optimistic that they can finalize a trade agreement by the end of this year. The sources say negotiations may now extend into next month, with both sides still hoping to reach an agreement to announce when European Commission President Ursula von der Leyen leads a delegation to New Delhi in January. The sticking points appear to be in sensitive sectors such as automobiles and steel. Some sources indicate that the EU wants India to increase its quota of approximately 80,000 vehicles that can be exported to India in exchange for reduced tariffs. Meanwhile, the Indian government is seeking to ease tariffs on some steel exports to the EU and wants flexibility regarding EU carbon tax regulations.On December 13, it was reported that on December 11 local time, the Venezuelan National Assembly approved the "Law on Support for Palestine and Humanity," which abolishes the Rome Statute of the International Criminal Court, marking Venezuelas decision to withdraw from the International Criminal Court.Intercontinental Exchange: In the week ending December 9, diesel speculators reduced their net long positions by 7,954 contracts to 58,578 contracts.On December 13th, a French presidential official stated on Friday that Ukraine, the United States, and European countries are still working to find a common ground to outline a peace agreement, including security guarantees for Kyiv, which could be submitted to Russia for consideration. The official told reporters at a press conference, "Our goal is to establish a solid common foundation for the negotiations. This common ground must unite Ukrainians, Americans, and Europeans. This should enable us to jointly propose a negotiating offer, a solid and lasting peace proposal that respects international law and Ukraines sovereign interests, a proposal that the US negotiators are willing to present to Russia." The official stated that there is currently no joint document, but the parties will negotiate through various phone calls and meetings in the coming days. He did not disclose whether Washington had set a deadline. He also revealed that a Ukraine meeting would not be held in Paris on Saturday.
