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Fed-up French travellers face traffic chaos over festive period

By - Dec 22,2019 - Last updated at Dec 22,2019

In this photo taken on December 12, SNCF agents stand inside the Gare de Lyon station, in Paris, during a strike of public transports operator SNCF and RATP employees over French government’s plan to overhaul the country’s retirement system, as part of a national strike (AFP file photo)

PARIS — Travellers across France scrambled on Saturday to begin their Christmas getaways with trains cancelled, roads jam-packed and nerves tested as a strike over a pension overhaul shows no signs of letting up.

Hopes of a holiday truce were dashed after talks between the government and union leaders this week failed to ease the standoff, with train operator SNCF warning the traffic would be “severely disrupted” over the festive period.

SNCF said its aim to allow 850,000 ticket holders to travel this weekend was being upheld — but only half of its usual services were running.

“I’m upset, this strike is unbearable... The government must do something,” said Jeffrey Nwutu Ebube, who was in the northern port town of Le Havre trying to find a way back home to the southern city of Toulouse, some 850 kilometres away.

On Saturday, French President Emmanuel Macron, called on the strikers to embrace a “spirit of responsibility” and for “collective good sense to triumph”.

“I believe there are moments in the life of a nation when it is also good to call a truce to respect families and the lives of families,” he said, speaking in Abidjan, the commercial capital of Ivory Coast, where he is on a visit.

 

‘Everything is full’ 

 

Many stranded travellers have turned to car rental agencies or sharing platforms since the strike began on December 5, but the last-minute surge in demand meant vehicles were hard to come by.

“We tried other ways, BlaBlaCar, etc, but everything is full, everything is taken,” said Jerome Pelletier, a manager in the textile industry.

President Macron wants to forge the country’s 42 separate pension regimes into a single points-based system which the government says will be fairer and more transparent. 

It would do away with schemes that offer early retirement and other advantages to mainly public-sector workers, not least train drivers who can retire as early as 52. 

While some unions support a single system, almost all reject a new “pivot age” of 64 — beyond the legal retirement age of 62 — which workers would have to reach to get a full pension.

Macron will renounce the pension he will be entitled to as former president, the Elysee palace said on Saturday.

He will also not take his seat on the Constitutional Court, of which former presidents are members for life and receive an allowance of 13,500 euros ($14,950) the Elysee added.

Heavy toll on business 

 

The unions are hoping for a repeat of 1995 when the government backed down on pension reform after three weeks of metro and rail stoppages just before Christmas.

Prime Minister Edouard Philippe said on Thursday that talks had made progress and called on unions to lift the strike “so that millions of French can join their families for the end of this year”.

Although the moderate UNSA union agreed, the hardline CGT and Force Ouvrier unions said they would not let up.

This weekend, the last for Christmas shopping, the RATP Paris train operator said metro services would be “heavily reduced” on Sunday with only two driverless metro lines working.

The protest is also taking a heavy toll on businesses, especially retail, during one of the busiest periods of the year, with industry associations reporting turnover declines of 30 to 60 per cent from a year earlier.

IMF approves $2.9 billion Ethiopia aid package

By - Dec 21,2019 - Last updated at Dec 21,2019

WASHINGTON — Ethiopia will receive $2.9 billion in a three-year aid package to help economic reform, the International Monetary Fund (IMF) has confirmed.

The country — which has one of the fastest-growing economies in Africa — will receive $308.4 million immediately, the IMF said in a statement on Friday.

“The programme aims to support the authorities’ implementation of their ambitious reform agenda,” the Fund’s First Deputy Managing Director David Lipton said in a statement.

The funding would aim to ease foreign exchange shortages, as well as helping to reform state-owned enterprises, and safeguard financial stability, he added.

Lipton said Ethiopia’s rapid growth over the past decade has reduced poverty and improved living standards, but that such a model — driven by public investment — had “reached its limits”.

A financial agreement with the Fund will support the authorities’ plan, helping to catalyse the funding of other partners.

The Ethiopian government announced last week that foreign donors have pledged to finance $9 billion in its ambitious economic reform program, crucial at a time when the country is facing violent ethnic unrest.

Trump approves Russia-Europe gas pipeline sanctions

By - Dec 21,2019 - Last updated at Dec 21,2019

In this photo taken on November 15, 2018, an employee of the Allseas offshore service company works on the ship ‘Audacia’, from where parts of the Nord Stream 2 pipeline are laid in the Baltic Sea off the coast of Laage, northeastern Germany (AFP file photo)

WASHINGTON — President Donald Trump on Friday signed off on US sanctions against companies building a Russian natural gas pipeline to Germany that Congress fears will give the Kremlin dangerous leverage over European allies.

The sanctions, which are opposed by the European Union, were included in a sprawling defence spending bill Trump signed at a ceremony on Joint Base Andrews, an air force installation outside Washington, DC.

They target companies building the nearly $11 billion Nord Stream 2 pipeline under the Baltic Sea with the aim of doubling deliveries of Russian natural gas to Europe's leading economy, Germany.

Both houses of Congress overwhelmingly approved the sanctions, with the Senate voting on Tuesday to send the measure to Trump's desk.

The sanctions were inserted into a much wider $738 billion annual Pentagon funding bill and, given the level of congressional support, a veto would likely have been overturned.

The US measures have angered Moscow and the European Union, which says it should be able to decide its own energy policies.

Germany's foreign minister, Heiko Maas, discussed the issue during a phone call on Friday with US Secretary of State Mike Pompeo, State Department spokeswoman Morgan Ortagus said.

Pompeo expressed "strong opposition" to the project, Ortagus said in a statement.

The German-Russian Chamber of Commerce insisted last week that the pipeline was important for energy security and urged retaliatory sanctions against the United States if the bill passes.

The US sanctions target pipe-laying vessels for Nord Stream 2 and TurkStream, a Russia-Turkey pipeline, and include asset freezes and revocations of US visas for the contractors.

One major contractor that could be hit is Allseas, which has been hired by Russia's state-owned energy giant Gazprom to build the offshore section.

Following the act's signing, the Swiss-based company said in a statement it had "suspended its Nord Stream 2 pipelay activities".

The power of Gazprom, which is closely integrated with the Russian state, is at the centre of concerns about the pipeline in the United States, and also in eastern and central European countries.

Senator Ted Cruz, a Republican ally of Trump, said that halting Nord Stream 2 should be a major security priority for the United States and Europe alike.

"It's far better for Europe to be relying on energy from the United States than to be fueling Putin and Russia and dependent on Russia and subject to economic blackmail," he told the Senate last week.

However, Senator Rand Paul, another Republican, voted against the bill, objecting to its bid to "sanction NATO allies and potentially American energy companies".

Best renewable energy graduation projects honoured

By - Dec 19,2019 - Last updated at Dec 19,2019

The winners of the ‘Best Graduation Projects in Renewable Energy’ contest were honoured in a ceremony this week (Photo courtesy of Orange)

AMMAN — The winners of the “Best Graduation Projects in Renewable Energy” contest were honoured in a ceremony this week.

Deputising for Minister of Energy and Mineral Resources Hala Zawati, Secretary General of the Ministry of Energy and Mineral Resources Amani Al Azzam attended the event. 

The contest was organised by the Jordanian-German Centre of Excellence for Solar Energy (GJCE) of the National for Employment and Training Company (NET), and in cooperation with Orange Jordan to shed light on the importance of renewable energy and to connect the students with the labour market, according to a statement from Orange. 

NET is committed to supporting youth, helping them meet the needs of the labour market and connecting them with employers in the energy sector, Ali Al Daaja, the general manager of the company was quoted in the statement as saying.

Munjed Akroush, Orange Jordan’s customer relations and operations director and GJCE’s vice-president, said that Orange supports all the efforts undertaken to reduce dependency on non-renewable energy resources and encourages the production of clean energy, stressing on the company’s commitment to support the GJCE technically and financially, in line with its social and national responsibility strategy and commitment to protect the environment, according to the statement.

The contest received 14 submissions from Balqaa Applied University, Al al Bayt University, German Jordanian University (GJU), Jordan University of Science and Technology, Israa University and Hashemite University.

The graduation projects were discussed by a committee that joined members from GJCE, Orange, Izzat Marji Group and some private sector partners. 

Eight projects reached the second round of the contest, out of which four competed for the first three places. 

The three winners were Sarah Mansour, an engineer from GJU, for her project “Environmental impacts of energy storage waste”, engineers Ameera Al Amayreh and Afaq Al Hyari for their project that tackled the Bus Rapid Transit Project and Hiba Al Thahabi, an engineer from GJU for her project “Double-sided Photovoltaic Systems on one Axis:  Design and Effectiveness”, according to the statement.

GJCE is the first Jordanian training centre to receive accreditation from the King Abdullah II Centre for Excellence, which is awarded to institutions that develop work practices and enhance expertise in accordance with world-class standards, the statement concluded. 

UK watchdog ‘concerned’ over dominant digital giants

By - Dec 18,2019 - Last updated at Dec 18,2019

This photo taken on October 1, shows the logos of mobile apps Facebook and Google displayed on a tablet in Lille, France. (AFP photo)

LONDON — Britain must consider tighter regulation of "digital giants" like Google and Facebook, because they could squeeze out potential Internet rivals and hurt traditional media, the competition watchdog said on Wednesday.

The Competition and Markets Authority (CMA), revealing interim findings of a market study into online platforms and digital advertising, said the average Briton spent three hours and 15 minutes online per day — and more than a third of this was on Google or Facebook apps and sites.

"Big is not necessarily bad and these platforms have brought very innovative and valuable products and services to the market," the watchdog said in a statement.

"But the CMA is concerned that their position may have become entrenched with negative consequences for the people and businesses who use these services every day."

The regulator added that Google accounted for more than 90 per cent of all UK search advertising revenues, totalling more than £6 billion.

It found that Facebook accounted for nearly half of all UK display advertising revenues, totalling more than £2 billion.

"A lack of real competition to Google and Facebook could mean people are already missing out on the next great new idea from a potential rival," the CMA continued.

"It could also be resulting in a lack of proper choice for consumers and higher prices for advertisers that can mean cost rises for goods and services such as flights, electronics and insurance bought online.

"The market position of Google and Facebook may potentially be undermining the ability of newspapers and other publishers to produce valuable content as their share of revenues is squeezed by large platforms."

The CMA aims to publish its full findings in July 2020 after a consultation period.

"There is a strong argument for the development of a new regulatory regime," it said.

"This could include rules governing the behaviour of online platforms and giving people greater control over their own data.”

"The most likely outcome at the end of this study will be recommendations to the new [UK] government as it decides whether and how to regulate the digital sector.

"On the other hand, the CMA stands ready to act directly through any or all of its own powers if, ultimately, these issues are not addressed in other ways, whether domestically or internationally."

US tech giants sued over cobalt mine child labour deaths

Case lodged on Sunday in the name of 14 victims

By - Dec 17,2019 - Last updated at Dec 17,2019

In this photo taken on May 23, 2016, a child and a woman break rocks extracted from a cobalt mine at a copper quarry and cobalt pit in Lubumbashi (AFP file photo)

NEW YORK —  Five US tech giants including Apple, Microsoft and Google parent Alphabet have been named in a lawsuit over the death of child labourers in cobalt mines in the Democratic Republic of the Congo (DRC).

Impoverished but mineral-rich DRC is the world's largest producer of the rare metal, which is crucial for making batteries used in mobile phones and electric vehicles.

The case was lodged on Sunday in the name of 14 unidentified victims, who are members of the families of children killed in tunnel collapses, as well as children maimed as they worked.

It lists Apple, Google's parent company Alphabet, Dell, Microsoft and Tesla as defendants and was submitted by the International Rights Advocates (IRA) campaign group to a Washington tribunal.

A boom in the technological sector has led to a huge increase in the demand for cobalt, IRA wrote in its statement, adding the tech companies were aware the DRC's mining sector relies on children.

Child miners work for $2-3 a day "under stone age conditions for paltry wages and at immense personal risk", it said.

BMW along with German chemical giant BASF and Samsung announced a joint project to ensure "responsible" cobalt mining in the DRC earlier this year.

The mining industry has said it wants to adopt standards of good governance to improve working conditions.

The London Metal Exchange, the global center for trading in industrial metals, recently adopted new ethical standards to ensure better traceability of raw materials, including cobalt.

Earlier this year, the World Gold Council issued "Responsible Gold Mining Principles", although the guidance is non-binding.

Qatar budget surplus to shrink in 2020

By - Dec 17,2019 - Last updated at Dec 17,2019

DOHA — Qatar, the world's largest exporter of liquified natural gas, will see its budget surplus shrink in 2020 due to projected higher wage bills, a government statement said on Monday.

The country ran a provisional surplus of 4.4 billion riyals ($1.21 billion) — its first surplus in three years — in 2019 due to higher energy prices. That is now expected to shrink to 500 million riyals in 2020.

"Expenditure is estimated at 210.5 billion riyals, up by 1.9 per cent compared with 206.6 billion in 2019," the finance ministry wrote in a statement.

"Budgeted expenditure is the highest in the past five fiscal years, reflecting the country's commitment to the completion of multiple development projects" ahead of the 2022 World Cup.

A 3.3 per cent hike in the government wage bill was down to a hiring spree for newly completed education, health and railway projects, the statement said. 

Qatar has been under an economic and diplomatic boycott by neighbouring countries led by Saudi Arabia for the past two-and-a-half years although signs of reconciliation efforts have recently emerged.

Saudi Arabia, the United Arab Emirates, Bahrain and Egypt severed ties with Qatar in June 2017, accusing it of links to extremist groups and being too close to Iran.

Doha has denied the charges and increased business with existing trade partners outside the region, announced plans to produce more gas and sought new markets.

Qatar, the third largest economy in the Gulf, has also sought to secure new revenues to boost income streams that shrank due to the slump in oil prices after mid-2014.

In January 2018, the government announced legislation allowing 100 per cent ownership for foreign investors in most economic sectors in a bid to boost non-energy revenues.

Previously, foreign investors could own up to 49 per cent of companies listed on Qatar's stock exchange.

China sees positive industrial, retail results in November

By - Dec 16,2019 - Last updated at Dec 16,2019

Office workers walk past shared bicycles in Beijing’s central business district as they arrive for work on Monday (AFP photo)

BEIJING — China enjoyed a better-than-expected pick-up in the key retail and industrial sectors in November, data showed on Monday, providing a further boost to Beijing after finally agreeing a mini trade pact with the United States last week. 

The readings come at the end of a tough year for the world’s number two economy, which is expanding at its weakest rate for three decades as it is buffeted by the long-running trade war with Washington as well as a slowdown in global demand for its goods.

Industrial production increased 6.2 per cent on-year last month, up from 4.7 per cent in October and the best reading in six months.

There was also positive news for the country’s shops, with retail sales up 8 per cent, compared with a 7.2 per cent rise the month before.

The figures exceeded expectations, with analysts surveyed by Bloomberg predicting just 5 per cent growth in industrial production and 7.6 per cent in retail sales.

Fu Linghui, spokesman at the National Bureau of Statistics, said the key economic indicators “performed better than expected” in the “face of mounting risks and challenges both at home and abroad”.

But he warned there was still “downward pressure” on the Chinese economy owing to “increasing external instabilities and uncertainties”.

Investment in fixed capital was up 5.2 per cent, the same as October and in line with predictions.

In November, Chinese shoppers set new records for spending during the annual “Singles’ Day” buying spree, with e-commerce giant Alibaba saying consumers spent $38.3 billion on its platforms during the world’s biggest 24-hour shopping event.

The figure was up 26 per cent from the previous all-time high set last year.

China’s economy is in an extended slowdown and the Singles’ Day fire sale is viewed as a snapshot of consumer sentiment.

Economic growth slowed to 6 per cent in the third quarter — the most sluggish rate since 1990 — as demand for exports cooled and Chinese consumers tightened their belts.

Fu said Beijing was on track to meet its full-year growth target of 6-6.5 per cent for 2019, but “must also acknowledge that the current international environment is still relatively complicated”. 

The partial trade deal had “reduced market uncertainty”, he said.

But analysts said Monday’s strong data was not necessarily a sign of long-lasting growth.

“We think this uptick will prove short-lived,” said Martin Lynge Rasmussen, China economist at Capital Economics, warning of the impact of a squeeze on financing in the important real-estate sector.

“Downward pressure on growth is likely to resurface before long,” he added.

Lofty promises for autonomous cars unfulfilled

By - Dec 15,2019 - Last updated at Dec 15,2019

In this undated photo, Uber's test of an autonomous vehicle is one of the few on the road, despite early promises that they would be broadly deployed this year (AFP photo)

NEW YORK — The first driverless cars were supposed to be deployed on the roads of American cities in 2019, but just a few days before the end of the year, the lofty promises of car manufacturers and Silicon Valley remain far from becoming reality.

Recent accidents, such as those involving Tesla cars equipped with Autopilot, a driver assistance software, have shown that "the technology is not ready", said Dan Albert, critic and author of the book "Are We There Yet?" on the history of the American automobile.

He questioned the optimistic sales pitch that autonomous cars would help reduce road deaths — 40,000 every year in the United States, mostly due to human error — because these vehicles themselves have caused deaths.

As a result, self-driving maneuvers in the technology-laden vehicles are limited to parking, braking, starting or driving in a parking lot.

Are autonomous cars on the roads? 

Autonomous vehicles have only been deployed in limited test projects in a few cities.

"When you're working on the large scale deployment of mission critical safety systems, the mindset of 'move fast and break things' certainly doesn't cut it," said Dan Ammann, CEO of self-driving car company Cruise.

General Motors, Cruise's parent company, had promised a fleet of autonomous vehicles would be on the roads in 2019.

There are driverless shuttles running on specific routes on university campuses, and Waymo, Google's autonomous car division, has been offering robotaxi service "Waymo One" for about a year around Phoenix, Arizona. However, there is a trained driver in the cars to take control in case of emergency.

Waymo is expanding that programme, and since the summer it has offered truly driverless service in some Phoenix suburbs that is free in the afternoon and sometimes in the evening. The company is also teaming up with ride-hailing app Lyft to expand to more areas.

 

Is the technology ready? 

 

"Automation may be used in areas such as closed campuses, where speeds are low and there is little or no interaction with other vehicles, pedestrians or cyclists or inclement weather," said Sam Abuelsamid, engineer and expert at Navigant Research.

The big problem is "perception": The software's ability to process data sent by the motion sensors to detect other vehicles, pedestrians, animals, cyclists or other objects, and then predict their likely actions and adapt accordingly, he said.

And that part is key, said Avideh Zakhor, engineering and computer science professor at the University of California-Berkeley.

"The perception part is not solved yet. The most advanced publicly available is 80-85 per cent [reliable]. That means that 15 per cent of the time, it's going to hit objects and kill and destroy them," she said.

 

What are the obstacles? 

 

Laws in place in some 40 US states only allow testing of these vehicles. The industry players hope the accumulation of thousands of kilometres travelled by self-driving vehicles will reassure authorities the technology is safe.

Authorities also will have to adapt road signage to these smart cars.

Contacted by AFP, the main road transportation regulator, the National Highway Traffic Safety Administration, declined to provide a status update.

When will autonomous cars be on the road? 

 

Not for a few years.

 

"We should see the deployment of autonomous fleets, likely at a regional level, over the next five years," according to Aurora, a start-up specialising in autonomous driving supported by Amazon and Fiat Chrysler.

But Navigant's Abuelsamid said driverless vehicles should be running soon on a small scale.

"We may see some limited numbers in a few locations by mid- to late-2020 with increasing deployments in 2021 and beyond," he said.

Elon Musk, the founder of Tesla, said in late October that his cars will be "able to drive from one's house to work, most likely without interventions", although "it will still be supervised."

Albert, the analyst, told AFP that Tesla may have overpromised, and he cautions that customers who paid $3,500 in advance for the promised fully autonomous features "effectively gave the company a no-interest loan".

Asian markets celebrate early Christmas on trade, Brexit

By - Dec 14,2019 - Last updated at Dec 14,2019

A pedestrian walks past an electric quotation board displaying the numbers on the Nikkei 225 Index on the Tokyo Stock Exchange in Tokyo on Friday (AFP photo)

HONG KONG —  Christmas came early to Asian markets on Friday as equities and the pound surged on reports China and the US had reached a trade agreement and exit polls predicted a landslide election win for British Prime Minister Boris Johnson that will allow him to push through Brexit.

Investors flocked back into stocks around the world on news that Donald Trump had signed off on a long-awaited pact between the world's economic superpowers that will see the cancellation of fresh US tariffs due at the weekend and the rolling back of previous measures.

After months of high-level talks, negotiators presented the president with a deal that will see China ramp up its purchases of agricultural goods, Bloomberg News reported.

The mood was already buoyant after Trump said an agreement was close on the first part of a wider pact.

"Getting VERY close to a BIG DEAL with China. They want it, and so do we!" Trump tweeted earlier in the day, which helped fuel a rally on Wall Street that saw the S&P 500 and Nasdaq hit new records.

Trade tensions between the world's biggest economies have been a huge drag on global growth, with most countries being sucked into the stand-off, sending some into or close to recession.

"Does it mean we get a comprehensive deal in 2020? Hard to say, but it this has created the necessary Christmas cheer for a decent Santa Rally," said Neil Wilson at Markets.com.

 

Sterling surges 

 

The trade headlines came just as a closely watched exit poll forecast Johnson's ruling Conservative Party would win a huge 86-seat majority in a crucial general election.

The PM is set to have sufficient power to finally drive his EU Brexit deal through parliament, the stuttering passage of which has caused years of uncertainty in Britain.

Commentators also suggested that the large majority meant Johnson was not beholden to the extreme anti-EU members of his party and would give him the ability to push for a softer Brexit, which would be better for the economy.

The news sent the pound briefly soaring to $1.3514 —  its highest since mid-2018 —  from $1.3163 before the poll was released. It also rallied to 82.80 pence per euro —  a level not seen since just after the Brexit referendum in 2016.

"The market is getting two Christmas presents early," said Tai Hui at JP Morgan Asset Management.

The one-two of positive news for markets sent equities surging in Asia.

Tokyo soared 2.6 per cent, Hong Kong piled on more than 2 per cent, Shanghai clocked up 1.8 per cent, Seoul surged 1.5 per cent and Sydney rose 0.5 per cent. There were also big gains in Mumbai, Singapore, Taipei, Manila and Jakarta.

The soothing of tensions and removal of some uncertainty helped higher-yielding, riskier currencies rally.

The Chinese yuan jumped 1 per cent against the dollar, while the South Korean won and South African rand were both 1.5 per cent higher.

Australia's dollar, the Indonesian rupiah, Mexican peso and Russian ruble also saw big advances as investors grew in confidence.

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