- ‘French veto’ risk in Brexit negotiations
- Strong data keeps coming from the Chinese economy
- Sputnik V’s price has been announced
‘French Veto’ Risk in Brexit Negotiations
European Union and U.K. leaders say that this week a post-Brexit trade deal could be struck, even as they place the responsibility on each other to make the final concessions. However, there are still unresolved issues.
At a meeting in Brussels, the French ambassador warned Brexit Chief Negotiator Michel Barnier that France might reject the deal if the conditions aren’t as desired.
Barnier turned down requests from the ambassadors to review the draft text. Thereupon, the ambassadords expressed concern that they would not have enough time to review the text of the agreement. If the deal is reached, all EU leaders must openly ratify the deal, which means Barnier manages to keep all member states in line.
After the nine-month process, the negotiations are at their most sensitive point, and officials from both sides believe that the deal could be reached in the next few days.
Despite the positivity, Beaune said that the EU and Britain are still very far from an agreement. He said there were two main disagreements—access to UK fishing waters and the so-called level playing field for business.
Countries led by France think Barnier has made too many concessions to Britain on fishing and preventing unfair competition.
As stated in the news, Boris Johnson has reduced his Brexit demands. He asked EU fishing fleets to hand over up tp 60% of the value of stocks it takes from British waters. However, the gap with Brussels remains large. Michel Barnier claimed that ahead awaits crucial 36 hours.
Strong Data Keeps Coming from the Chinese Economy
Following the manufacturing sector, PMI data on the service sector also pointed out that the momentum of recovery was getting stronger. Caixin services sector PMI was recorded as 57.8 in November. Economists who joined Bloomberg survey expected the data to be around 56.4. In October, the service sector PMI was realized as 56.8.
The Caixin services sector purchasing managers index (PMI) in China was 57.8 in November. Economists expected the data to be 56.4.
The composite PMI in the country in November was 57.5. In October, this figure was 55.7. The manufacturing sector PMI figures announced this week in the country pointed to 10-year peak levels.
Caixin manufacturing PMI was recorded at 54.9 in November. The expectation of economists who participated in the Bloomberg survey was that the data would be 53.5.
On the other hand, the Caixin manufacturing purchasing managers index on Tuesday showed that activity in China’s factory sector, a key factor for global growth, grew at the fastest pace of the decade, with 54.9 points in November. The recovery in China’s manufacturing sector led to a massive rally in industrial metals, raising London’s listed copper mine Antofagasta to new 12-month highs. The miner’s shares rose 1.4% and 26% higher than last month.
Sputnik V’s Price Has Been Announced
Kirill Dmitriyev, President of the Russian Direct Investment Fund (RDIF), made a presentation on the Sputnik V corona vaccine at the UN General Assembly special session.
Representatives of 55 countries, including North Korea, Egypt, Belarus, Algeria, Qatar, India, Tajikistan, Uzbekistan, Azerbaijan, Singapore, Thailand and Syria, attended the presentation via teleconference. Dmitriyev, who first conveyed the development process of the vaccine, then shared information about the distribution of the vaccine and the countries to be sent.
Russian Direct Investment Fund (RDIF) President Kirill Dmitriyev announced at the United Nations special session that the cost of the Sputnik V corona virus vaccine developed by Russia was less than 10 dollars, and that the vaccine will begin to be sold to other countries from the beginning of 2021.
Underlining that the Sputnik V vaccine developed by Russia is the cheapest vaccine compared to the vaccines developed by other countries, Kirill Dmitriyev stated that:
“The cost of the Russian Sputnik V corona virus vaccine will be less than $ 10 per dose and cheaper than other corona vaccines.”
Russian President Vladimir Putin announced in a statement in August that the Sputnik V vaccine was given to his daughter.
Stating that his daughter’s fever had risen to 38 degrees on the first day and then dropped to 37 degrees, Putin said, “I know that the vaccine works very well and creates a strong immunity. I repeat, the vaccine has passed all the necessary controls.”
