Latest news with #EconomyMinistry
Yahoo
an hour ago
- Business
- Yahoo
Germany approved €485m in arms exports to Israel since October 2023
Since the large-scale Hamas attacks in October 2023, the German government has approved arms exports worth around €485 million ($554 million) to Israel, according to the Economy Ministry. A letter from State Secretary Bernhard Kluttig seen by dpa shows these approvals cover the period from October 7, 2023 to May 13, 2025 and include deliveries of weapons and military equipment. It remains unclear whether the new government, which took office on May 6, has also granted export approvals. Foreign Minister Johann Wadephul recently questioned further shipments in an interview with the Süddeutsche Zeitung newspaper, saying the government is reviewing whether actions in the Gaza Strip comply with international humanitarian law. He added that future arms exports will depend on the outcome of this review. Nicaragua filed a case at the International Court of Justice in The Hague accusing Germany of complicity in genocide through its arms exports. In April 2024, the court rejected Nicaragua's request to halt shipments but did not dismiss the case entirely. Ulrich Thoden, a lawmaker for the Left Party who requested the arms data from the government, called for an immediate halt to all arms exports to Israel, warning that continued deliveries could implicate Germany in violations of international law.
LBCI
4 days ago
- Business
- LBCI
Economy Minister meets Starlink regional director, pledges support for launching operations in Lebanon
Economy and Trade Minister Amer Bisat met with the Middle East Regional Director of Starlink. He affirmed that "the launch of the company's operations in Lebanon will provide the private sector with additional, reliable, and efficient internet services." A statement from the Ministry of Economy noted that 'in line with the ministry's goal of facilitating the Ease of Doing Business, Minister Bisat pledged to assist the company in swiftly establishing its operations in Lebanon.'
The Star
4 days ago
- Business
- The Star
Ageing farmers a worrying trend
SERDANG: Malaysians aged over 60 make up the largest segment of the country's farmers, while around 90% of all farmers have only completed education up to the SPM level, according to preliminary findings from the 2024 Agriculture Census. Deputy Prime Minister Datuk Seri Fadillah Yusof, who announced the interim results yesterday, said the census, the first in more than two decades, aims to provide a comprehensive picture of Malaysia's agricultural and food production landscape. 'With the 2024 Agriculture Census, we now have current, comprehensive baseline data for the agriculture sector. 'The last data collection of this scale was conducted over 20 years ago,' he said in his speech when announcing the census' interim report. Fadillah, who chairs the Cabinet Committee on Food Security, said the data would serve as a foundation for crafting evidence-based policies and for strengthening the planning, implementation and monitoring of agricultural initiatives. The census began in mid-2024 and was led by the Statistics Department under the Economy Ministry, in collaboration with 1,390 federal, state and district-level agencies. Elaborating on some of the main findings, Fadillah said the data revealed challenges and obstacles the agricultural sector faces in contributing to the country's food security. For instance, out of the more than 1.03 million agricultural entrepreneurs, over 1.008 million are individuals, with only about 21,000 being group entities. The age profile of these farmers also highlights a concerning trend: 45.6% are aged over 60, 32.3% are between 46 and 59 years old, and only 22.2% fall between the ages of 15 and 45. 'The predominance of senior citizens among individual farmers directly impacts farm productivity and the nation's capacity to increase domestic production and sustain the agriculture sector as a whole,' Fadillah said. He also noted that 90.1%, or 909,114, of individual farmers only possess SPM-level education, which could pose challenges in modernising the sector. 'Although there is no direct link between education level and farming productivity, it plays an important role in enabling farmers to make accurate decisions, access the latest information and adopt modern farming practices.' Another critical finding is that out of the 7.5 million hectares of agricultural land in Malaysia, about 5.8 million hectares are dedicated to oil palm and 700,000ha to rubber. In contrast, food crops, of which rice is the largest, occupy just 500,000ha. 'Among the biggest challenges for individual farmers is limited land, especially plots smaller than five acres (2.02ha). Small plot sizes significantly impact productivity and crop yields. 'This affects not only farmers' incomes but also threatens long-term growth of the sector.' The census also revealed the sector's heavy dependence on migrant labour, with 474,000 of the 1.4 million agricultural workers being foreigners, Fadillah added. 'This shows that the sector is still dependent on migrant workers in order to sustain itself.' To ensure continuous data-driven policy-making, Fadillah announced that the agricultural census will now be conducted every 10 years, with interim surveys beginning in 2026 to help monitor developments more effectively. The public will be able to access statistics on the industry through a one-stop terminal called TaniStats, which will include macro-level industry data (TaniFacts), value chain information of agriculture products (myAgrochain) and food-related data (myFoodStats). The MyAgroPrice portal, on the other hand, will allow users to compare farm, wholesale and retail prices of various food products.
Bloomberg
6 days ago
- Business
- Bloomberg
Germany Sees High Bar for Gas Storage Intervention If Goals Missed
Germany sees a high bar for any intervention to support gas storage efforts this year, even if the country ends up missing its new legally-binding targets. If liquefied natural gas supplies keep arriving in the country by the start of November, it may not be appropriate for gas market manager Trading Hub Europe GmbH to step in to support injections, even if the nation's storage goals are missed, according to a memo by the economy ministry seen by Bloomberg. Effectively, Germany is aiming to have storage sites 70% full.
Bloomberg
26-05-2025
- Business
- Bloomberg
Argentina Claims Return to Global Markets With Peso Bond Sale
Argentina's government will issue a five-year bond denominated in pesos that's aimed at international investors who are allowed to purchase it in US dollars, a move the government hailed as its return to global markets after a sovereign restructuring during the pandemic. The May 28 auction is set to raise up to $1 billion, Finance Secretary Pablo Quirno posted on X Monday. Analysts quickly pointed out the bond will help accumulate the central bank's foreign reserves, while Economy Minister Luis Caputo described the auction as a milestone even though one of his deputies clarified it would be issued under local Argentine law instead of New York law like most international bonds.
