Monday, October 21

Tag: government

Heathrow urges government to drop ETA scheme for transit passengers – Business Traveller
11Apr By adminNo Comments
Travel

Heathrow urges government to drop ETA scheme for transit passengers – Business Traveller

Heathrow Airport says the recently introduced Electronic Travel Authorisation (ETA) scheme is impacting transit figures, and is urging the government to take action “to level the playing field”. The phased roll out of the ETA scheme was launched in November for Qatari citizens, requiring travellers to apply for the digital documentation ahead of travel and pay a £10 fee. The requirement applies to passengers either travelling to or transiting through the UK. Heathrow said that in the first four months of the scheme being in place it had seen 19,000 fewer transit passengers from Qatar, “with the transfer route recording its lowest monthly proportions for over ten years each month since the implementation of ETAs”. The airport said that while it supports “the overall rationale” behind the ...
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Government: Government set to block 9 global crypto platforms in India
29Dec By adminNo Comments
Business

Government: Government set to block 9 global crypto platforms in India

NEW DELHI: The government is set to block Binance, Kucoin and Huobi, among other global virtual digital asset service providers in India for their failure to register under the Prevention of Money Laundering Act (PMLA).Kraken, Gate.io, Bittrex, Bitstamp, MEXC Global and Bitfinex are the other entities that are facing similar action.In March, VDA service providers were brought into the ambit of anti-money laundering framework and were mandated to register with the Financial Intelligence Unit (FIU) and comply with compliance requirements under PMLA, which relate to reporting and record-keeping.While the FIU has issued compliance show cause notices to the nine offshore entities, it has also written to the electronics and IT ministry to block the URLs of said outfits that are operating illega...
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BOE Money Printing to Cost UK as Much as HS2, Ex-Official Says
20Dec By adminNo Comments
Money

BOE Money Printing to Cost UK as Much as HS2, Ex-Official Says

The Bank of England’s quantitative easing program is on track to cost the UK taxpayer as much as the entire HS2 high-speed rail link that the government has scaled back on value-for-money grounds, according to a former BOE rate setter.Michael Saunders, who was on the Monetary Policy Committee between 2016 and 2022, said the £126 billion ($161 billion) “lifetime cost” to the taxpayer of central bank money printing, calculated using the government’s own official forecasts, is “similar to the full HS2 scheme adjusted to 2023 prices.” In October, Prime Minister Rishi Sunak scrapped the rail link’s northern leg as costs spiralled.
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Saudi Sports Money | National News
19Dec By adminNo Comments
Money

Saudi Sports Money | National News

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Moody’S: Moody’s slashes China’s credit outlook to negative
6Dec By adminNo Comments
Business

Moody’S: Moody’s slashes China’s credit outlook to negative

Ratings agency Moody's cut its outlook on China's government credit ratings to negative from stable on Tuesday, in the latest sign of mounting global concern over the impact of surging local government debt and a deepening property crisis on the world's second-largest economy. The downgrade reflects growing evidence that authorities will have to provide more financial support for debt-laden local governments and state firms, posing broad risks to China's fiscal, economic and institutional strength, Moody's said in a statement."The outlook change also reflects the increased risks related to structurally and persistently lower medium-term economic growth and the ongoing downsizing of the property sector," Moody's said.China's blue-chip stocks slumped to nearly five-year lows on Tuesday amid...
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Don’t Give Gaza to the Palestinian Authority
26Nov By adminNo Comments
World

Don’t Give Gaza to the Palestinian Authority

By Eugene Kontorovich and Itamar MarcusThe Biden administration wants Israel to bring in Mahmoud Abbas’s Fatah party to rule Gaza when the war is over. Fatah controls the Palestinian Authority, which governs much of the West Bank. Uniting Gaza and the West Bank under a common government is a necessary step in the Biden administration’s seemingly unshakable goal of creating a Palestinian state sandwiching Israel. The idea behind the strategy has a long history. Fatah is a secular, Arab nationalist party that occasionally claims to want peace with Israel, albeit on terms that would make Israel’s existence as a Jewish state untenable. Yet for many diplomats this makes it an attractive alternative to the terrorists who perpetrated the Oct. 7 attacks. But Fatah is a junior-varsity version of ...
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BA’s Project Speedbird SAF partnership secures £9 million government funding – Business Traveller
18Nov By adminNo Comments
Travel

BA’s Project Speedbird SAF partnership secures £9 million government funding – Business Traveller

British Airways has announced it has secured £9 million in funding for its sustainable aviation fuel (SAF) partnership dubbed Project Speedbird. The carrier is working with Teesside-based cleantech company Nova Pangaea Technologies (NPT), and leading ethanol to SAF technology firm LanzaJet, with the project set to produce 102 million litres of SAF per year by 2028. The funding from the government’s Advanced Fuels Fund competition sees NPT being awarded £7.5 million, with LanzaJet receiving £1.5 million. BA intends to purchase all the SAF produced through Project Speedbird, which it says will reduce CO2 emissions, on a net lifecycle basis, by 230,000 tonnes per year – the equivalent of approximately 26,000 British Airways domestic flights. The SAF will be developed using a combination of ...
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Dutch government scraps plans to cut flights at Amsterdam Schiphol – Business Traveller
15Nov By adminNo Comments
Travel

Dutch government scraps plans to cut flights at Amsterdam Schiphol – Business Traveller

The Dutch government has suspended controversial plans to cap the number of flights at Amsterdam Schiphol airport next year. The so-called Experimental Rule would have seen a cap of 460,000 flights imposed at the airport for 2024 (down from around 500,000), in a bid to reduce noise pollution. Earlier this year several airlines including KLM, easyJet, TUI and Delta went to court to successfully challenge the plans, only for the court of appeal to rule in favour of the Dutch authorities. However – as discussed on our forum – the cuts meant that several US carriers including JetBlue were denied slots at Schiphol for summer 2024, and this in turn led to the threat of retaliation by US authorities, which could have resulted in Dutch flag carrier KLM’s slots being affected at US airports. Resp...
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