SUNDAY, 21 JAN 2018

 

CONNECT

Facebook Linked In Twitter
MTN_07/07-10/04_728x90px
GloriaJeans_266x90px
IMH LTD

Uber Co-Founder Travis Kalanick Officially a Billionaire

Markos Kashiouris: IronFX Enters into $100M Agreement with Middle East Investor

IMH LTD
MTN_07/07-10/04_468x60px

INTERNATIONAL

brought to you by CIPA

Brexit: Price Rises Unless UK Can Copy EU Trade Deals

Brexit: Price Rises Unless UK Can Copy EU Trade Deals

British Retail Consortium says everyday products such as food and clothing could rise when UK leaves the bloc.

Consumers face rising prices after Brexit unless Britain can replicate trade deals negotiated by the EU with dozens of other countries, the British Retail Consortium has warned.

The BRC’s chief executive, Helen Dickinson, said the cost of everyday products from food to clothing would go up if the UK lost the preferential arrangements it enjoys as a member of the EU.

Currently, she said, Britain benefits from zero or low tariffs on various imports from trade deals struck by the EU with 73 third-party countries.

As it stands, those arrangements will come to an end the moment Britain leaves the EU.

“On 29 March 2019 we fall out of all of those agreements. On that minute after we leave, those arrangements cease to apply to the UK,” Dickinson told BBC Radio 4’s Today programme.

“So what is important between now and 2019 is that the UK gets on with the job in hand in terms of focusing on at least replicating existing arrangements just to get us back to where we are at the moment.’’

“We are talking here about everyday products that people buy week in, week out. Fish from Norway, wine from South Africa, clothes from Turkey – each of those have lower tariff rates on them than would exist if we didn’t have those deals in place.”

The tariff on clothing from Turkey, a major supplier to the UK, could rise from zero to 12%, and duties on fish from Iceland could go from 3.4% to 11%, the Guardian reports.

MORE ON INTERNATIONAL

HSBC to Pay $101.5m to Settle Currency Rigging Probe

HSBC has agreed to pay $101.1m (£72.7m) to settle a US criminal investigation into ...

South Korean Group Files Complaint against Apple CEO over iPhone Slowdown

A South Korean consumer group has filed a criminal complaint against Apple Inc CEO Tim ...

Uber Co-Founder Officially a Billionaire

Uber co-founder Travis Kalanick will become a billionaire, after investors agreed to take ...

FROM AROUND GOLDNEWS

   

HSBC to Pay $101.5m to Settle Currency Rigging Probe

HSBC has agreed to pay $101.1m (£72.7m) to settle a US criminal investigation into rigged currency transactions. The bank has admitted its traders ...
   

Markos Kashiouris: IronFX Enters into $100M Agreement with Middle East Investor

IronFX has changed the name of its registered company in Cyprus, to Notesco Financial Services, after the brokerage signed a deal for a significant investment ...
   

Macron: UK Must Pay Into Budget to Keep Banks’ EU Access

Britain must pay into the European Union budget and accept the jurisdiction of EU courts if it wants its banks to keep full access to the bloc’s markets ...
   

South Korean Group Files Complaint against Apple CEO over iPhone Slowdown

A South Korean consumer group has filed a criminal complaint against Apple Inc CEO Tim Cook over slower iPhone devices, after probes in Europe into allegations ...
   

House Prices up by 4.1% in the Euro Area

House prices, as measured by the House Price Index, rose by 4.1% in the euro area and by 4.6% in the EU in the third quarter of 2017 compared with the same ...
   

IN Business Awards 2017: The Winners

The IN Business Awards 2017 ceremony took place at the Hilton Park Hotel, Nicosia, on January 18, attended by business leaders, industry giants, small ...
   

GOLD Magazine: That’s Entertainment!

In Cyprus, most people’s idea of a good night out means going to a restaurant or bar while the number of cafes opening in all towns in recent years has ...
   

Banking Union: First Progress Report on the Tackling of NPLs

The European Commission has welcomed the headway made in tackling non-performing loans (NPLs) in the EU as part of ongoing work at the national and EU level to ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Deloitte_2016_300x250px
Gold_Issue_300x250px

IMH LTD