News Analysis India

Tag: deal

  • EU Officials Formally Sign Post-Brexit Trade Deal With UK

    The top European Union (EU) officials on December 30 have formally signed the post-Brexit trade agreement with the UK. The European Commission president Ursula von der Leyen and European Council president Charles Michel put pen to paper on Wednesday morning (local time) in a brief signature ceremony held in Brussels. 

    These documents are now set to be flown to London reportedly in an RAF plane for the British Prime Minister Boris Johnson to sign before being provisionally applied as of January 1, 2021. Even though the presidents of the European Commission and European Council have signed the agreement, it will now be examined by the EU Parliament and the Council before being ratified by the EU.

  • EU Expected To Approve Post-Brexit Trade Deal With UK ‘within Days’: Report

    The 27-member European Union is expected to approve the post-Brexit trade with the UK within days after a Christmas briefing of ambassadors, The Guardian reported. After Britain and the bloc successfully agreed on trade terms, it is now upon the members to pore upon the 1,246-page text, although there is little doubt if the agreement would be called off. On Christmas eve, both the UK  and the EU finally zeroed down on common terms after nine months of fraught talks regarding a trade deal.

    The European Parliament has declined to hold a vote of consent this year due to lack of time for scrutiny. Instead, the deal would be provisionally applied at the end of the transition period, that is December 31, and an MPs vote would be held in January. The House of Commons will be recalled and hold a vote on the new treaty on 30 December, The Guardian reported. 

  • America finishes big arms deal with UAE

    The United States has approved arms deals worth more than 1 lakh 73 thousand crores to the United Arab Emirates. Through this deal, the US will sell its state-of-the-art stealth combat aircraft F-35 and MQ-9 Reaper drones to the UAE.

    The UAE had been wanting to purchase the F-35 stealth fighter aircraft of the US for the past several years, but the deal was delayed due to Israeli objections. A few months ago, the UAE signed a peace deal with Israel. Recently the UAE, Bahrain and Sudan have signed agreements with Israel.

    Pompeo said that the UAE is under threat from Iran, so we are strengthening it by giving it weapons. He said the deal recognizes our deepening ties and the need for enhanced defense capabilities to protect the UAE against threats from Iran. Trump wants all pending agreements to be finalized within his remaining term.

  • Aircel-Maxis case: CBI informs Delhi court it has procured sanction to prosecute Chidambaram

    The CBI Monday informed a Delhi court that it has procured the requisite sanction from the authorities concerned to prosecute former Union minister P Chidambaram in the Aircel-Maxis case.

    The court however extended till December 18 the protection granted to Chidambaram and his son Karti from arrest after the Central Bureau of Investigation (CBI) said it needed two weeks to get sanction against other accused in the case.

    The CBI is probing alleged irregularities in grant of FIPB approval in Aircel-Maxis deal, while the ED is probing alleged money-laundering related to the deal.