Latest news with #andTrade
Ya Biladi
a day ago
- Automotive
- Ya Biladi
Morocco aims to boost electric vehicle production by 53% by end of 2025
Morocco plans to increase its electric vehicle (EV) production by 53% by the end of 2025, reaching a total of 107,000 units, Industry and Trade Minister Ryad Mezzour announced on Monday during a session at the House of Representatives. The move is part of the kingdom's broader strategy to reduce its dependence on the European market, which is currently facing sluggish demand. The country's automotive sector currently has an annual production capacity of 700,000 vehicles, with expectations to reach one million units before the end of the year. The European Union remains the main destination for Moroccan car exports. Despite a 7% drop in car exports—amounting to around 49 billion dirhams during the first four months of 2025—the automotive industry continues to hold its position as Morocco's leading export sector. According to data from the Foreign Exchange Office, this decline contributed to a widening trade deficit, which rose to 108.9 billion dirhams, up by 22.8%. Minister Mezzour described the downturn as temporary and highlighted efforts to diversify Morocco's export markets. The country currently exports vehicles to around 70 countries and aims to expand that number to 100. Data from the European Automobile Manufacturers Association shows a decline in sales of traditional cars across the continent, while electric vehicles now account for 15.2% of the market—strengthening Morocco's strategic focus on EV production.
Observer
28-05-2025
- Politics
- Observer
President of Iran leaves Oman
Muscat: President Dr Masoud Pezeshkian of the Islamic Republic of Iran and his accompanying delegation left the Sultanate of Oman after a two-day official visit. HH Sayyid Shihab bin Tarik al Said, Deputy Prime Minister for Defence Affairs led the farewell party for President Pezeshkian at the Royal Airport. The Iranian President was also seen off by Sayyid Badr bin Hamad al Busaidi, Foreign Minister (Head of the Mission of Honour) and Ibrahim Ahmed al Muaini, Ambassador of the Sultanate of Oman to the Islamic Republic of Iran. During his visit to the Sultanate of Oman, the Iranian President was accompanied by an official delegation comprising Abbas Araghchi, Minister of Foreign Affairs, Mohsen Haji-Mirzaei, Head of the President's Office, Mohammad Atabek, Minister of Industry, Mining, and Trade, Head of the Iranian side in the Oman-Iran Economic Cooperation Joint Committee, Air Commodore Aziz Nasirzadeh, Minister of Defence and Logistics of the Armed Forces, Gholamhossein Zarei, Deputy Chairman of the Parliament, Mohammad-Reza Farzin, Governor of the Central Bank of Iran, Masoumeh Aghapour Alishahi, Advisor to the President for Economic Cooperation Affairs, Mousa Farhang, Ambassador of the Islamic Republic of Iran to the Sultanate of Oman and several officials from the Iranian government.
BBC News
05-05-2025
- Business
- BBC News
Trump wan sama movies wey dem make outside US 100% tariffs
US President Donald Trump say im go hit movies wey dem make for foreign kontris wit 100% tariffs, as e dey round up trade disputes wit nations around di world. Trump say e dey authorise di US Department of Commerce and Trade Representative to start di process to impose di levy becos America movie industry dey die "a very fast death". E blame a "concerted effort" by oda kontris wey dey offer incentives to attract filmmakers and studios and e describe am as a "National Security threat". E say dis fit spell a "knock-out blow" to di industry, one union warn, say filmmakers for years dey comot Hollywood for destinations like di UK and Canada to search for lower costs. Trump tok for im Truth Social platform: "E dey in addition to evritin else, messaging and propaganda!" "WE WANT MOVIES WEY DEM MAKE FOR AMERICA, AGAIN!" US Commerce Secretary Howard Lutnick respond to di announcement, e say "We on am". But di details of di move dey unclear. Trump statement no say weda di tariff go apply to American production companies wey dey produce films abroad. Several recent major movies produced by US studios dey shot outside America, including Deadpool & Wolverine, Wicked and Gladiator II. E dey also unclear if di tariffs go apply to films on streaming services, like Netflix, as well as dose wey dey show for cinemas, or how dem go calculate am. Di founder of European cinema chain Vue, Timothy Richards, question how Trump go define a US film. Speaking to BBC Radio 4 Today programme, e say: "Na wia di money come from? Di script, di director, di talent, wia dem shoot am?" Mr Richards say di cost of shooting for southern California don grow significantly ova di last few decades, wey make filmmakers to move production to locations like di UK, wey don offer tax incentives and lower costs. "But no be just di actual financing," e add. "One of di reasons UK don do so well na say we get some of di most highly experienced and skilled film and production crew for di world. "Di devil go dey in di details." Meanwhile, UK media union Bectu warn say di tariffs fit "deal a knock-out blow" to di industry and dia tens of thousands of freelancers, as e recova from di pandemic and a "recent slowdown". Union chief Philippa Childs tell di BBC: "Di govment need to move swiftly to defend dis vital sector, and support di freelancers wey power am, as a matter of essential national economic interest." A UK government tok tok pesin say e dey "absolutely committed" to ensure di film sector kontinue to thrive and create jobs and go set out plans to do so for dia upcoming Creative Industries Sector Plan. Dem add: "Tok on an economic deal between di US and di UK dey ongoing - but we no go to provide a running commentary on di details of live discussions or set any timelines becos e no dey di national interest. "We go kontinue to take a calm and steady approach to tok and aim to find a resolution to help ease di pressure on UK businesses and consumers." Industry body di British Film Institute say, e dey work closely wit di govment and industry partners for di UK and di US "while we understand di detail of di proposal". One tok tok pesin add: "We wan keep collaboration for di heart of our sectors, so we remain a constructive partner to our friends for di US and internationally." Di US remain a major film production hub globally despite challenges, according to movie industry research firm ProdPro. A most recent annual report show say di kontri see $14.54bn (£10.94bn) of production spending last year. Although dat go down by 26% since 2022. And NPR Radio film critic Eric Deggans warn say di tariffs, if dem introduce am, fit further harm di industry. Oda countries fit respond by placing tariffs on American films, e tell BBC, wey go make am "harder for dis films to make profits overseas". "E fit create a situation wia di tariffs in America dey cause more harm dan good," e add. Di Motion Picture Association, wey represent di five major US film studios, no immediately respond to BBC requests for comment. Kontris wey don attract an increase in spending since 2022 include Australia, New Zealand, Canada and the UK, according to ProdPro. Following Trump remarks, Australia home affairs minister Tony Burke say: "Nobodi suppose dey under any doubt say we go stand up for di rights of di Australian screen industry." Industry body Screen Producers Australia say while e get "many unknowns" about di plan, e get "no doubt e go send shock waves worldwide". New Zealand's Prime Minister Christopher Luxon also say im govment dey await further details of di proposed tariffs. "But we go obviously be a great advocate, great champion of dat sector and dat industry," e tell a news conference. Ahead of im inauguration, Trump appoint three film stars - Jon Voight, Mel Gibson and Sylvester Stallone - to be special ambassadors to promote business opportunities for Hollywood, wey im describe as a "great but veri troubled place". Trump write dat time: "Dem go serve as Special Envoys to me for di purpose of bringing Hollywood, wey don lose much business ova di last four years to Foreign Countries, back- bigger, better, and stronger dan eva bifro!" Since e return to di White House for January, Trump don impose tariffs on kontris around di world. E argue say tariffs wey be taxes charged on goods wey dem buy from oda kontris go boost US manufacturers and protect jobs. But di global economy don dey face wahala as a result, and prices od goods around di world dey expected to rise. Even bifor dis most recent announcement, di US movie industry dey impacted by di fallout from Trump trade policies. For April, China say dem dey reduce dia quota of American films wey dey allowed into di kontri. Di wrong action of di US govment to abuse tariffs on China go further reduce di domestic audience favourability towards American films," di China Film Administration say. "We go follow di market rules, respect di audience choice, and moderately reduce di number of American films wey dey imported."
Yahoo
03-04-2025
- Business
- Yahoo
Fourth Tashkent International Investment Forum launched as Uzbekistan continues FDI drive
With Uzbekistan's economy nearly doubling with 6% GDP growth in 2023 and over $90 billion in foreign investments have been attracted, TIIF 2024 is set to drive further deals and investment. TASHKENT, Uzbekistan, April 3, 2025 /CNW/ -- The Ministry of Investment, Industry, and Trade of the Republic of Uzbekistan (MIIT) have announced the fourth annual Tashkent International Investment Forum (TIIF), Uzbekistan's most significant international economic event, will be taking place at the Central Asian Expo (CAEx) Uzbekistan from 10-12 June 2025. Laziz Kudratov, Minister of Investment, Industry, and Trade of the Republic of Uzbekistan, highlighted the country's strengthening position as a dynamically developing investment hub in Central Asia. "The government is taking decisive steps to improve Uzbekistan's investment and business climate, removing all barriers," he stated. Over 3,000 participants from more than 75 different countries are expected to travel to Tashkent for TIIF 2025. Many of the participants are major investors, financial institutions, policymakers, economists, corporate leaders, experts in sustainability, innovation, and digital transformation. During the announcement, Minister Kudratov spoke about the promising progress Uzbekistan is making noting that the economy has nearly doubled in recent years, with 6% GDP growth in 2023. Trade turnover continues to grow steadily, and over $90 billion in foreign investments have been attracted. Minister Kudratov said: "TIIF-2025 is not just a forum—it's a real tool for attracting investments, forging strategic partnerships, and discussing global economic trends. We invite all interested parties to join this landmark event." What to expect from TIIF 2025 This year's program will focus on strategic sectors, investment opportunities, legislative reforms and business climate improvements. Selected participants will also be invited to a plenary session with Shavkat Mirziyoyev, President of Uzbekistan. TIIF 2025 will be focused on a number of key topics which will give participants the opportunity to listen to industry leaders on the below: SMEs as the engine of economic growth Industrial progress: automotive, electrical engineering, machinery Water resource management challenges and innovations Investor protection and legal system modernisation Fintech and e-commerce development Green energy and sustainable development Privatisation and investment reforms Urban development and infrastructure modernisation Textile and chemical industry value chains Digitalisation and AI as new business frontiers Through comprehensive reforms, and a favourable business environment, Uzbekistan is seeing real progress. The "Uzbekistan-2030" Strategy is accelerating to support the economic development of the country. By 2030, Uzbekistan's GDP is projected to reach $200 billion. The previous TIIF in 2024 brought together 2,500+ participants and a record $26.6 billion in agreements were signed, demonstrating Uzbekistan's high investment appeal. TIIF is an internationally recognised space that platforms the high-growth potential of Uzbekistan and other Central Asian markets. To register for the 2025 Forum, visit Photo - View original content to download multimedia: SOURCE Tashkent International Investment Forum View original content to download multimedia: Sign in to access your portfolio
Yahoo
28-03-2025
- Yahoo
Kuwaiti government official accused of fixing raffles
One woman's streak of four luxury car wins in Kuwaiti televised raffles was too good to be true. Videos show a government official running the draws with an approach we will charitably call… unorthodox. He allegedly slipped the winning tickets from his sleeve after clumsily shaking off a pile of others. The Ya Hala Kuwait Shopping Festival, which organized the raffle, has paused draws while authorities investigate a three-year scam allegedly involving up to 20 people. The raffle should have been beyond reproach: It was overseen by the so-called Permanent Committee for Celebrating National Holidays and Occasions and staffed by Kuwait's Ministry of Commerce and Trade officials. A deputy minister offered his resignation.
