Day: November 4, 2022

The EU on Thursday announced an energy support package of €1 billion ($975 million) to help the Western Balkans deal with the spiraling energy crisis in Europe.

“The EU continues to stand behind the Western Balkans — both in good times and in hardship,” said European Commission President Ursula von der Leyen said a Berlin summit being held to speed up the region’s integration with the EU.

“Today we are putting together a €1 billion energy support package to protect the most vulnerable groups and boost much-needed investments in energy diversification. We are investing in the economic fabric of the region to advance in the clean energy transition and come out greener, stronger, and more sustainable from the current crisis,” said Von der Leyen.

To help address the immediate effects of the current energy crisis and build resilience in the short and medium term, the commission is ready to provide budget support of €500 million in a measure to be adopted in December and implemented in January.

The EU aims to support households and small- and medium-sized enterprises to cushion energy price hikes and their impact.

Over the short and medium term, the commission plans to provide another €500 million to boost energy diversification, renewable energy generation, and gas and electricity interconnections through the Western Balkans Investment Framework, an EU initiative.

“Short-term measures in the next 1-2 years will support diversification of energy supplies, by boosting gas and electricity interconnectors including LNG (liquefied natural gas) as well as by supporting the construction of renewable energy projects and the energy efficiency measures,” said the statement.

“The medium-term assistance in the next 2-3 years will include other investments contributing to the energy transition and security. These measures will cover large-scale renewable energy generation projects, upgrade of energy transmission systems, district heating, and schemes for energy efficiency for the old blocks-of-flats,” it added.

EU foreign policy chief Josep Borrell, also attending the summit, said the EU stands with the Western Balkans in addressing the wider consequences of Russia’s war against Ukraine and its weaponization of energy. “The keywords for the months to come are resilience, stability, and reconciliation,” said Borrell.

Western Balkan countries signed three agreements on Thursday to enable free movement and closer regional cooperation among them during the summit hosted by German Chancellor Olaf Scholz.

“Today, more than ever, regional cooperation, enhancing stability, and advancing on reconciliation remains key in facing these challenges. Progress on implementing the common regional market in all its dimensions is crucial for bringing the region closer to the EU,” said Borrell.

“The EU and the Western Balkans will continue to build a community of resilience based on shared principles, to reduce the exposure of our countries to threats against peace and security,” he added.

The leaders of Albania, Bosnia and Herzegovina, Kosovo, Montenegro, North Macedonia, and Serbia signed the agreements during the conference in Berlin.

The agreements will enable citizens of these countries to cross borders between them using only ID cards, with the countries also recognizing each other’s university qualifications and the professional qualifications of doctors, dentists, and architects.

Serbia, Albania, and North Macedonia signed very similar agreements in September to boost relations as part of the Open Balkan Initiative Summit.

Also, the former Yugoslavian countries already have an agreement that enables their nationals to travel across each other’s borders using only ID cards, except for EU members Croatia and Slovenia.

Source: Anadolu Agency

At least 23 bodies were pulled out after a boat carrying asylum seekers sank in the Aegean Sea, Greek officials said Friday.

Five children were among the dead from Tuesday’s boat wreck, according to the Greek coast guard.

Twelve people, including a 16-year-old boy, have been rescued. Two of those rescued are alleged smugglers and they were arrested.

The asylum seekers include those from Egypt, Afghanistan and Iran.

Survivors said there were 68 people on the boat. A distress call was sent to the European emergency number 112 by the asylum seekers after the boat sank, according to the coast guard.

A search and rescue operation is underway for those still missing.

Source: Anadolu Agency

US billionaires have funneled a record $880 million into midterm elections that will be held next Tuesday, according to a report published Thursday.

The report by Americans for Tax Fairness (ATF), using Federal Election Commission data from Open Secrets, revealed that a tiny group of 465 billionaires has pumped more than $881 million into races as of Sept. 30.

That sum was already a 44% increase in billionaire contributions during the entire 2018 midterm cycle, which totaled $611 million.

“After the flurry of fundraising that closes out a campaign season, billionaires might well have contributed close to $1 billion,” said the report.

It noted that by a three to two margin, more billionaire cash is supporting Republicans (59%) than Democrats (39%).

George Soros tops the donor list with his contribution of more than $128 million to Democrat candidates, followed by Richard and Elizabeth Uihlein, owners of the Uline shipping supply company, with $67 million to Republican candidates.

Hedge-fund billionaire Ken Griffin is third on the list, spending $66 million on Republicans.

Jeffrey Yass, a Wall Street trader, donated nearly $48 million to Republicans, taking fourth on the list, followed by Sam Bankman-Fried, a cryptocurrency mogul, who contributed $39 million to Democrat candidates.

“Billionaire cash is flowing to both Democrats and Republicans, but much more is going to GOP candidates. That makes sense, since it

is Republican candidates who are pledged to reward their billionaire donors with lower taxes and fewer curbs on their economic power,” the report added.

Source: Anadolu Agency

The Group of Seven countries urged Iran on Friday to stop the repression of protesters and release those that have been detained in recent weeks.

“We further condemn the brutal and disproportionate use of force against peaceful protesters and children. We urge Iranian authorities to honor their international obligations under international law,” the foreign ministers of the world’s major economies said in a joint statement after their meeting in the German city of Muenster.

“We also call on the Iranian authorities to release unjustly detained prisoners, including recently arrested protesters, children, journalists, and human rights defenders, and ensure accountability for perpetrators of human rights violations and abuses,” the ministers said.

Iran has been rocked by protests since mid-September after the custodial death of 22-year-old Mahsa Amini, who was arrested by the country’s morality police for allegedly violating the Islamic dress code.

Source: Anadolu Agency

Benjamin Netanyahu and his right-wing bloc secured an outright majority in parliament, according to final election results on Thursday, winning a decisive victory in Tuesday’s election.

Netanyahu’s camp won 64 seats versus 51 seats of the current government led by Yair Lapid in the 120-seat parliament.

Netanyahu’s Likud party won 32 seats, 14 seats went to the Religious Zionism alliance led by far-right Itamar Ben Gvir, ultra-Orthodox Shas secured 11 seats, and United Torah Judaism won seven seats, according to Israeli election commission.

Lapid’s Yesh Atid (There is a Future Party) won 24 seats in parliament.

The results give Netanyahu, a former prime minister, an outright majority in the Knesset to form the upcoming Israeli government.

Tuesday’s elections were the fifth in less than four years, which witnessed a 71.3% voter turnout, the highest in 20 years.

*Ikram Imane Kouachi contributed to this report.

Source: Anadolu Agency

Turkish President Recep Tayyip Erdogan on Friday received NATO Secretary General Jens Stoltenberg in Istanbul.

Turkish first lady Emine Erdogan and Stoltenberg’s wife Ingrid Schulerud were also present at the reception held at the Dolmabahce Presidential Office.?

Following the meeting, Stoltenberg praised Türkiye’s role in the resumption of the Black Sea grain deal.

“We also discussed finalising #Finland and #Sweden’s #NATO membership, which will make our Alliance stronger,” he said on Twitter.

On Thursday, the NATO secretary general arrived in Türkiye on a three-day visit that is expected to be centered around the extension of the Istanbul grain deal, and NATO membership bids of Sweden and Finland.

Stoltenberg also met with Turkish Foreign Minister Mevlut Cavusoglu in Istanbul on Thursday.

Source: Anadolu Agency

The European Central Bank (ECB) on Thursday called into question the Spanish government’s plan to enact a windfall tax on banks to counter the cost-of-living crisis.

In the much-anticipated recommendation, the ECB called on Spain to conduct “a thorough analysis of potential negative consequences for the banking sector” before passing the legislation.

The Spanish government estimates that the temporary bank tax would raise €3 billion ($2.9 billion) over the next two years, which would be redistributed to help citizens cope with rising inflation.

This year, as the ECB has increased interest rates, Spanish banks have reported massive profits. This week, ECB President Christine Lagarde said rates will continue to rise to tame inflation.

But the ECB warned Spain’s windfall tax scheme could negatively impact the profitability of lenders, pose risks to financial stability, banking sector resilience, and the provision of credit.

It also suggested that Spain’s proposal could distort market competition both within Spain and across the EU banking union.

The recommendation, signed by Lagarde, also highlighted confusion around Spain’s proposal for banks to face hefty fines if caught passing the cost of the temporary levy on to clients.

The ECB said this measure could generate “uncertainty” and that it will be hard to determine why banks are raising costs, given rapidly changing macroeconomic conditions. Furthermore, the ECB expects banks to price “all relevant costs” into loan pricing.

Under the draft legislation, Spain plans to add a temporary levy of 4.8% on “the sum of the interest margin and commission income and expenses shown in its profits and loss account for the preceding calendar year.”

The ECB implores Spain to use more precise terminology. The bank suggests saying instead that the 4.8% tax could apply to “net interest income and net fee and commission income.”

Spain’s government has already defended the tax plan against criticism from opposition politicians and banking executives.

But with planned windfall taxes on banks and energy companies, and a temporary wealth tax, Spain’s progressive coalition government argues that fiscal justice leads to social justice.

Last week, Economy Minister Nadia Calvino told reporters that Spain was “doing the right thing” with windfall taxes.

“It’s essential … for everyone to pull their weight … especially the sectors that are making extraordinary profits due to the international energy markets or the rise in interest rates,” she said.

The ECB recommendation is non-binding, and this would not be the first time the Spanish government has ignored its suggestions. Earlier this year, the ECB called Spain’s proposal to limit cash payments to €1,000 “disproportionate,” but Madrid went ahead with the measure anyway.

Meanwhile, other European countries are considering windfall taxes to deal with inflation.

According to SandP Global Market Intelligence, Hungary announced a new bank tax in May and the Czech Republic has plans for a similar levy.

The measure is also being debated in the UK, where former Bank of England Deputy Governor Charlie Bean said this week that banks’ gains could be tapped to cover the budget shortfall.

Source: Anadolu Agency

More than 200 elephants have died in Kenya’s worst drought in four decades, the country’s tourism minister said on Friday.

Giving out the figures, Peninah Malonza said: “We confirmed drought-related mortalities for species such as gnus (512), common zebras (381), elephants (205), Grevy’s zebras (49) and Buffalos (51) among others.”

The ministry noted that Kenya has experienced below-average rainfall in the last two rain seasons (October-December 2021 and March-May 2022).

The habitats of the Amboseli, Tsavo, Laikipia and Samburu parks are the most severely affected by the drought.

The Kenyan government noted that the drought has not had a significant impact on the rhino population since only one rhino died in the Ngulia rhino sanctuary in Tsavo West National Park.

As government officials and stakeholders head to Egypt’s Sharm el-Sheikh for the 2022 UN Climate Change Conference, conservationists want more to be done to fight such adverse effects of climate change that have affected humans and wild animals alike.

Nancy Githaiga, a conservationist and Kenya’s country director at Africa Wildlife Foundation, expressed hope that the conference would not only focus on talks and commitments that do not get actualized but also act to solve key issues affecting Sub-Saharan Africa.

“We are losing animals, we are losing wildlife, we are losing livelihoods, we are losing livestock, and millions of citizens are actually affected by this problem. So, we cannot continue to have conversations, we need action,” she added.

Source: Anadolu Agency

Barcelona and Spain’s experienced defender Gerard Pique announced his retirement from football in a video on Thursday.

“Football has given me everything. Barca has given me everything. You, culers (term for Barcelona fans), have given me everything … I want to tell you that I’ve decided that now is the time to bring this journey to its end,” Pique said on Twitter.

“I’ve always said that there would not be any other team after Barca. And that’s how it will be. This Saturday’s game will be my last at Camp Nou,” the 35-year-old said, adding that he will remain as a Barcelona fan to support the team.

Barcelona will take on Almeria in a Saturday La Liga match at home.

In the video, Pique has visited Spotify Camp Nou Stadium, the home of Barcelona, which was empty during night time.

Dressed casual, Pique seemed alone to roam in the stadium as he is set to say goodbye as a professional player.

Pique also said “I’ll be back” in the video while he was looking at the Camp Nou stands.

“Long live Barca. Always,” he added.

The Barcelona product has a contract with the Spanish club until 2024 but it is not clear how the club will act.

Pique won 30 trophies with Barcelona, including three UEFA Champions League titles in 2009, 2011 and 2015, and eight Spanish La Liga championships.

He was a Manchester United defender to win the 2008 English Premier League and a Champions League trophy with the Red Devils in the same year.

Pique also secured the 2010 FIFA World Cup and the UEFA EURO 2012 with his native Spain.

In 2018, Pique retired from international football after tallying 102 caps for the Spanish national team.

Source: Anadolu Agency