Sunday, November 24

Types of News: Brief

News briefs are shorter stories about current events. It’s the who-what-when-and-where. “Just the facts, ma’am.” Please see our writers guidelines.

Brazil, China Aim to Strengthen Economic Ties
28Oct By Patti MohrNo Comments
Diplomacy, Types of News: Brief

Brazil, China Aim to Strengthen Economic Ties

October 28, 2019-Brazilian President Jair Bolsonaro and China's President Xi Jinping met in Beijing last Friday to bolster bilateral trade and investment between their two countries ahead of the APEC and BRICs summits next month. Bolsonaro, Brazil's new far-right leader, said the two leaders are meant to "were born to walk together" and that the two economies -- the second and ninth largest in the world -- are "completely aligned, in a way that reaches beyond our commercial and business relationship." The leaders established some common ground in trade and investment ahead the APEC Summit in Chile Nov. 11-17 and the BRICs Summit in Brazil Nov. 13-14. Strengthening Economic Ties Xi held a welcome ceremony for Bolsonaro and said he hoped to develop "strategic and long-term" relat...
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South Korea Opts Out of Special Trade Status for Developing Countries
28Oct By Patti MohrNo Comments
Foreign Aid, International Development, Global Trade, Organizations, IMF, WTO, G7, Types of News: Brief

South Korea Opts Out of Special Trade Status for Developing Countries

October 28, 2019-South Korea plans to give up a special status in the World Trade Organization. The status gives developing countries longer time periods to implement trade agreements and the ability to increase trade opportunities. South Korea Finance Minister Hong Nam-ki made the announcement late last week, saying it reflects his country's growing economy and external pressures. South Korea's economy is worth $1.5 trillion and is the 11th largest economy in the world. In July, U.S. President Donald Trump called on strong economies such as China to shed the special status. His July memorandum makes specific recommendations regarding the treatment of countries that he says should no longer be treated as developing economies. Singapore, Brazil, the UAE and Taiwan have also pledged...
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EU Allows UK Extension on Brexit
28Oct By Patti MohrNo Comments
Europe, EU, Eurozone, Globalization, Global Disintegration, Types of News: Brief

EU Allows UK Extension on Brexit

October 28, 2019-The European Union agreed to allow the United Kingdom to extend its plan to leave the customs union as late as January 31, 2020. That means that despite British Prime Minister Boris Johnson's pledge to take the U.K. out of the EU "do-or-die" by October 31, it is not going to happen. Donald Tusk, president of the European Council, said on Twitter he plans to formalize the extension for Brexit in a written procedure. The costs of a no-deal Brexit would have meant economic disruptions, food and fuel shortages, price spikes and blockages in ports and roads. Johnson had negotiated a new withdrawal agreement with the EU, but he was unable to win the support of the British parliament for the plan. Johnson has called for national elections to be held December 12. "...
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Coal Can’t Compete With Gas & Renewable in Europe, Study Says
24Oct By Patti MohrNo Comments
Energy Policy, Oil & Gas, Types of News: Brief

Coal Can’t Compete With Gas & Renewable in Europe, Study Says

October 24, 2019-In a sign that renewable energy and natural gas are increasingly gaining market power, a study released today by the Carbon Tracker Initiative finds that 79 percent of coal generators in the European Union are running at a loss. "Owing to relentless competition from ever lower-cost wind and solar, and gas, these losses could be sustained for the foreseeable future," according to the Carbon Tracker Initiative, a London-based think tank focused on climate change. The new study suggests the coal industry cannt survive, unless it is supported by heavy government subsidies, due to sustained competition from wind and solar power and temporarily cheap natural gas. "EU coal generators are haemorrhaging cash because they cannot compete with ever-cheaper renewables and...
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Turkey-Russia Agree on Plan in Syria
22Oct By Patti MohrNo Comments
Diplomacy, Middle East, Types of News: Brief

Turkey-Russia Agree on Plan in Syria

October 22, 2019-As U.S. troops pulled out of northeastern Syria, Russia President Vladimir Putin and Turkish President Recep Tayyip Erdogan made an agreement to share control of north east Syria. Under the plan, Turkey would control the area it currently has under its control while Russian and Syrian troops control the rest of the border, Haartz news reported. Under the Russian-Turkish agreement, Syrian Kurd fighters would need to move 30 kilometers (18 miles) away from the border area within 150 hour period that starts on Wednesday. Erdogan said 800 Syrian Kurdish fighters withdrew since Turkey and the United States agreed to a five-day pause in the operation and that 1,300 more are still expected to withdraw. "Syria should be free from the illegal military foreign presence," Pu...
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Seized North Korean Cargo Ship Sold for Scrap Metal
22Oct By Patti MohrNo Comments
Sanctions, Types of News: Brief

Seized North Korean Cargo Ship Sold for Scrap Metal

October 22, 2019-A U.S. court made an order of forfeiture for a cargo vessel named "Wise Honest" that had shipped coal and machinery for North Korea in violation of U.S. and international sanctions. The U.S. Justice Department announced the decision yesterday, saying that it effectively ends the ship's "career as one of North Korea’s largest sanctions-busting vessels.” A Ship's Story In April, foreign maritime authorities intercepted and seized the ship. In May, DOJ Attorneys John Demers and Geoffrey Berman filed a civil forfeiture complaint in a U.S. court against the 17,061-ton, single-hull bulk carrier ship. According to a DOJ statement, it was the first-ever seizure of a ship evading sanctions. The Korea Songi Shipping Company had used the ship to export North Korean coal ...
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Ukraine to Sell 800 State-Owned Enterprises
21Oct By Patti MohrNo Comments
Domestic Politics, Political Systems, Domestic Politics, Types of News: Brief

Ukraine to Sell 800 State-Owned Enterprises

October 21, 2019- Privatization is seen as a key to addressing widespread corruption in Ukraine, where the state is the largest asset owner. The government is preparing a list of 800 state-owned assets for sale, a top Ukrainian official told a gathering of business and government leaders in Washington, DC last week. "There are 61 central authorities running state-owned companies with no accountability whatsoever, and these guys are messing up the competition in every market you can think of," Tymofiy Mylovanov, Ukraine's Minister of Economic Development, Trade and Agriculture, told members of the U.S.-Ukraine Business Council in Washington, DC last week. "We have to get them under control." Mylovanov announced plans to list up to 800 of the 10,000 state-owned enterprises (SOEs) for ...
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Pause in Turkey’s Offensive Gives Syrian Kurds Chance to ‘Get Out’
20Oct By Patti MohrNo Comments
Middle East, Migration, Immigration, Borders, Types of News: Brief

Pause in Turkey’s Offensive Gives Syrian Kurds Chance to ‘Get Out’

October 20, 2019-The United States and Turkey reached an agreement on Syrian operations late last week after Turkey's President Recep Tayyip Erdo?an demanded that "all the terrorists" lay down their arms and "get out of the safe zone that we have designated." As a result of the agreement, Kurdish fighters, known as the People’s Protection Units (YPG), and their families are to evacuate from a designated zone along the Syrian-Turkish border. If they do not evacuate, Turkey has promised to relaunch its military offensive. While U.S. President Donald Trump called it a "ceasefire," others referred to the pause in fighting as a period of mass evacuation. It is not immediately clear if YPG fighters are leaving the area, but tens of thousands of civilians are fleeing to Iraq for safety. ...
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British Parliament Delays Vote on Brexit Withdrawal
19Oct By Patti MohrNo Comments
Types of News: Brief

British Parliament Delays Vote on Brexit Withdrawal

October 19, 2019-During a rare Saturday session, the British parliament voted 322-306 to delay a vote on a deal that British Prime Minister Boris Johnson negotiated with the European Commission. The postponement dealt a blow to Johnson's plan to allow Britain to exit the European Union in its October 31 Brexit while averting economic shocks to consumers, businesses and citizens. Members of the Labour Party overwhelmingly voted for the amendment to postpone while Conservative Party members voted against it. Down to the Wire The delay is seen as a defeat for Johnson who has promised to steer Britain out of the EU on October 31 with or without a deal. A no-deal exit could mean economic disruptions, including food, fuel and medicine shortages, price hikes, problems at ports and...
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U.S. Preps Sanctions Against Turkey in Wake of Military Incursion in Syria
14Oct By Patti MohrNo Comments
Geopolitics, Middle East, Sanctions, Types of News: Brief

U.S. Preps Sanctions Against Turkey in Wake of Military Incursion in Syria

October 14, 2019-As Turkey continued its military operation into northern Syria on Monday, U.S. lawmakers prepared to impose economic sanctions against current and former Turkish government officials contributing to the "destabilizing actions." While U.S. troops moved out of Syria, U.S. leaders prepared an economic response. In a published statement released on Twitter, U.S. President Donald Trump said he is preparing an executive order to impose the sanctions against "those who may be involved in serious human rights abuses, obstructing a ceasefire, preventing displaced persons from returning home, forcibly repatriating refugees, or threatening the peace, security, or stability in Syria." Aside from sanctions against individuals, further actions could include raising tariffs on s...
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