Tag Archives: reduce

Merkel promises to ‘noticeably reduce’ refugee inflow

BERLIN German Chancellor Angela Merkel promised at a congress of her conservative celebration on Monday to noticeably reduce the quantity of migrants getting into the nation.

“This challenge is huge,” she mentioned of the refugee crisis, adding that her government would “noticeably minimize” the inflow into Germany, which expects a lot more than a single million refugees to arrive this year.

Merkel was speaking at a congress of her conservative Christian Democrats (CDU) in Karlsruhe, western Germany. Faced with the prospect of a party revolt, Merkel has adopted tougher language towards refugees.

(Reporting by Paul Carrel Editing by Noah Barkin)

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Merkel desires to ‘drastically reduce’ refugee arrivals in Germany

KARLSRUHE, Germany Chancellor Angela Merkel said on Sunday she wanted to “drastically decrease” the quantity of refugees coming to Germany, signaling a compromise to critics of her open-door policy from within her conservatives on the eve of a celebration congress.

Merkel has resisted stress from allies inside her Christian Democratic Union (CDU) to place a cap on the number of refugees getting into Germany, which is anticipated to best 1 million this year.

“At the identical time we took on board the issues of the individuals, who are worried about the future, and this means we want to minimize, we want to drastically lower the number of people coming to us,” Merkel told broadcaster ARD.

Merkel, whose popularity has fallen over her handling of the refugee crisis, stated the word “limit” did not feature in the CDU’s main resolution which will be debated at the two-day celebration congress starting on Monday in the southern city of Karlsruhe.

The chancellor added there was broad assistance in the CDU for her technique to minimize the numbers.

This integrated operating with Turkey to fight traffickers, improving the circumstance at Syrian refugee camps in Turkey, Lebanon and Jordan, and strengthening control of the European Union’s outer borders.

Merkel’s conservative critics want her to get the number of arrivals down just before 3 state elections in March and say her hopes of operating for a fourth term in 2017 would be in danger.

Her method also involves obtaining a solution to the migration crisis on the EU level, where she is meeting resistance from member states opposed to a quota system to distribute refugees.

Her critics say her choice in late August to permit Syrian asylum seekers to remain in Germany regardless which EU country they had initial entered had accelerated the influx of migrants.

(Reporting by Andreas Rinke Writing by Joseph Nasr Editing by Alison Williams)

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MIDEAST STOCKS-Shares retreat as investors reduce back exposure to oil-linked markets

* Oil’s drop to near 11 year lows drags down Gulf markets

* Saudi Arabia down 32 percent from 2015 peak

* Dubai worst performing Gulf market place in 2015

* Egypt monetary policy selection this week as inflation up

By Celine Aswad

DUBAI, Dec 13 Gulf bourses fell on Sunday as the crude price slumped to near 11-year lows and investors scurried to cut back their exposure to oil dependents markets.

Brent crude posted its biggest weekly percentage drop in over a year on Friday to settle at $ 37.93 soon after the International Power Agency (IEA) warned global oversupply of crude could worsen next year.

Saudi’s benchmark index plunged two.7 to 6,764 points. It is down 32 percent from a 2015 peak of 9,897 on April 30.

Brent has fallen 47 percent over the very same period.

“Low oil costs coupled with investors’ heightened nervousness about the kingdom’s spending budget has compounded volatility in the markets,” stated Hisham Tuffaha, head of equity investments at Riyadh-based Mulkia Investments.

“Overall we are in a downtrend, for some sectors this is justified, specially oil-linked industries like petrochemicals, other segments such as banks this is less so.”

Saudi Telecom Co (STC), the country’s largest telecommunications organization, dropped 1.9 %, regardless of the Kuwaiti industry regulator approving STC’s takeover strategy for Kuwait’s Viva.

The retail sector was down three.five %, with Saudi Business for Hardware (SACO) and Al Othaim losing six.three and 3.7 % respectively.

Recent retail data showed signs of weakness, as customers are shopping less and cutting back on spending at shops, according to a note by Saudi’s NCB Capital.

“The slowing development in sales transaction values is comparable to the period for the duration of the international financial crisis and oil value declines in 2008,” NCB Capital’s note added.

Dubai’s index fell two.1 % to two,883 points. It is down 23.6 percent in 2015, creating it the worst performing Gulf bourse this year.

Emirates NBD – Dubai’s biggest bank by market place value – tumbled 4.1 %, reversing earlier session gains. Dubai Islamic Bank fell three percent to five.42 dirhams, a 2015 low.

Arabtec retreated three.7 %, falling near a four-year low.

Abu Dhabi’s index dropped 2.1 % as blue-chip Etisalat, the largest stock by market value, slid two.5 %. The telecom company is up 57.2 percent this year, which has helped limit the benchmark’s year losses to 11.7 %.

Qatar’s benchmark slumped three.7 %, taking its losses for the year to 21.2 %, underperforming the MSCI emerging marketplace index which is down 19.1 %.

Economic sector heavyweights Masraf Al Rayan and Qatar National Bank dropped 6.3 and 2.1 percent respectively.


Egypt’s bourse fell three.7 percent to six,395 points, within 93 points of November’s 2015 low.

“The sell-off is part of the declines in other Middle East markets following a drop in oil costs,” said Simon Kitchen, head of regional approach at Cairo’s EFG Hermes.

“The Egyptian marketplace is uncertain about the central bank’s interest price decision at the monetary policy meeting scheduled at the finish of this week,” Kitchen added.

Egypt’s annual urban customer inflation rose to 11.1 % in November from 9.7 percent in October, the official statistics agency CAPMAS mentioned on Thursday. That is the steepest increase in headline inflation because June.

The higher inflation figures are unlikely to influence Thursday’s central bank meeting to set interest rates, analysts told Reuters, noting the principal priority is probably to be advertising development.

Neighborhood and Arab traders had been net sellers even though foreign investors were net purchasers, exchange data showed.

Orascom Telecom and Industrial International Bank fell 7.three and four.2 percent respectively.



* The index fell two.7 percent to six,765 points.


* The index slid 2.1 percent to 2,883 points.


* The index dropped two.1 % to 4,001 points.


* The index plunged three.7 % to 9,644 points.


* The index stumbled 3.7 % to six,395 points.


* The index dipped 1 % to 5,633 points.


* The index fell .1 percent to 1,212 points.


* The index slid .7 % to 5,415 points. (Editing by Matt Smith and Mark Potter)

Poland ought to not reduce retirement age: EU’s Dombrovskis

WARSAW Poland ought to not reduce its retirement age as this would negatively influence the pension technique and the labor industry, European Commission Vice President Valdis Dombrovskis was quoted as saying on Friday.

Poland’s new government, the socially conservative and economically populist Law and Justice party (PiS), wants to reduced the retirement age to 60 for girls and 65 for guys. The prior economically liberal government had decided in 2012 to progressively raise it to 67 for both men and females.

“We will insist that the government does not backtrack from a earlier choice to improve it (the retirement age),” Dombrovskis told Rzeczpospolita newspaper.

“If it does, this will negatively impact the stability of the pension technique, the level of pensions and the supply of labor on the market place,” he stated.

Poland has 1 of the lowest fertility prices in the 28-nation European Union, which signifies that, barring a modify in the quantity of youngsters being born, it will face a sharp decline in population and escalating costs to look right after the elderly.

Dombrovskis also mentioned Poland was amongst the EU nations with the highest number of allowances and decreased rates of worth added tax, so it should consider lowering them in order to boost tax collection, a single of the government’s targets.

Poland must take action to lessen the share of temporary employment contracts, which now account for about a third of all job contracts, the highest share in the EU, Dombrovskis mentioned.

Earlier this month Dombrovskis urged Poland to stick to a accountable fiscal policy and hold its deficit below an EU ceiling of 3 percent of national output despite Warsaw’s strategy to exceed it.

(Reporting by Marcin Goettig Editing by Gareth Jones)

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Brazil reduce home names impeachment committee stacked against Rousseff

BRASILIA The lower house of Brazil’s Congress voted on Tuesday to appoint a committee stacked with opponents of President Dilma Rousseff to report on whether to impeach her, a setback for the leftist leader who is battling for political survival.

In a secret ballot, lawmakers voted 272-199 for a list of committee members drawn up by the opposition and pro-impeachment members of the centrist Brazilian Democratic Movement Party (PMDB), Rousseff’s major ally in her governing coalition.

Although the outcome was a hard blow for Rousseff, the fact that 199 lawmakers voted for the pro-government list was an indication that she could nonetheless have the more than one-third of support necessary to block an eventual impeachment vote just before the full residence.

Her supporters in Congress plan to appeal to the Supreme Court against the secret voting process adopted by Speaker Eduardo Cunha, who permitted the option list to be presented.

Controversy more than the vote descended into chaos on the floor of the property, as some lawmakers outraged by the secret vote smashed an electronic voting urn and unplugged other folks, whilst pro-impeachment parties waved a flag in celebration of the win.

The committee will have the job of reporting on whether Rousseff committed an impeachable offense. Opponents who filed the impeachment motion that set the method in train accuse her of breaking budget rules to enhance spending during her re-election campaign final year. Rousseff has denied any wrong-carrying out.

If the committee finds an offense was committed, the method will go to a complete vote on the house floor, at which the opposition wants two thirds of the votes to commence a 180-day impeachment trial in the Senate. For the duration of that trial the president would be suspended and replaced by her vice president, Michel Temer.

(Reporting by Anthony Boadle Editing by Frances Kerry)

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