More stories

  • in

    GCC-China free trade deal must protect emerging Gulf industries – Saudi minister

    RIYADH (Reuters) – The free trade deal being negotiated between China and the Saudi Arabia-dominated Gulf Cooperation Council needs to protect emerging Gulf industries, the Saudi investment minister said on Sunday, adding he hoped it would be finalised soon. “We need to enable and empower our industries to export, so we hope all countries that negotiate with us for free trade deals know we need to protect our new, emerging industries,” Investment Minister Khalid al-Falih said. “We need to provide them with market economics and some kind of protection,” he said at the Arab-China Business Conference in Riyadh, without providing more detail.Talks on a China-GCC Free Trade Agreement (FTA) began in 2004 but have repeatedly stalled, most recently in 2016 after a ninth round. They have recently seen renewed momentum under warming ties between Saudi Arabia, under Crown Prince Mohammed bin Salman, and China, with China’s foreign minister in early 2021 calling for talks to resume. Falih said he hoped the talks would soon result in a deal. “We have come a long way. The leadership from both sides is showing willingness,” Falih said. The Gulf’s two biggest economies, Saudi Arabia and the United Arab Emirates, have launched new industrial strategies to boost domestic economic growth and non-oil exports. Saudi Arabia is developing sectors including domestic manufacturing, mining and minerals, and advanced technology.”GCC countries – the Kingdom of Saudi Arabia in particular as the biggest economy, population and workforce – we need to work on sectors other than the energy sector,” Falih said about what the GCC states are looking for in any deal. Gulf countries, such as the United Arab Emirates, are putting increasing energy into trade deals and investment partnerships as they look to diversify their hydrocarbon-centric economies. More

  • in

    Hong Kong legislator invites Coinbase to the region despite SEC scrutiny

    Legislative Council member Johnny Ng took to Twitter to express support and assistance to “all global virtual asset trading operators” like Coinbase. He also hinted at potential stock listing opportunities. This comes after the recent United States Securities and Exchange Commission lawsuits against significant industry players like Binance and Coinbase.Continue Reading on Coin Telegraph More

  • in

    Ooki DAO to shut down after ‘precedent setting’ court battle with CFTC

    The Commodity Futures Trading Commission (CFTC) initially filed a lawsuit against Ooki DAO in September 2022, accusing the decentralized autonomous organization (DAO) of illegally offering retail margin and leverage trading services, and “unlawfully acting” as a futures commission merchant. Continue Reading on Coin Telegraph More

  • in

    Cardano Climbs 12% In Bullish Trade

    The move upwards pushed Cardano’s market cap up to $9.3035B, or 0.88% of the total cryptocurrency market cap. At its highest, Cardano’s market cap was $94.8001B.Cardano had traded in a range of $0.2603 to $0.2754 in the previous twenty-four hours.Over the past seven days, Cardano has seen a drop in value, as it lost 29.76%. The volume of Cardano traded in the twenty-four hours to time of writing was $856.1999M or 2.18% of the total volume of all cryptocurrencies. It has traded in a range of $0.2225 to $0.3791 in the past 7 days.At its current price, Cardano is still down 91.41% from its all-time high of $3.10 set on September 2, 2021.Bitcoin was last at $25,797.0 on the Investing.com Index, up 1.02% on the day.Ethereum was trading at $1,758.29 on the Investing.com Index, a gain of 0.44%.Bitcoin’s market cap was last at $500.9865B or 47.58% of the total cryptocurrency market cap, while Ethereum’s market cap totaled $211.5277B or 20.09% of the total cryptocurrency market value. More

  • in

    Surge in STIs in England sparks anxiety over reproductive health

    England experienced a surge in sexually transmitted infections in 2022 driven by significant increases in gonorrhoea, syphilis and chlamydia, according to figures released by the UK government.Across all age groups, 83,000 cases of gonorrhoea were diagnosed, the largest number since records began. Syphilis diagnoses are at their highest level since 1948. The latest annual figures follow much lower figures recorded in 2020 and 2021, in part because testing fell during the coronavirus pandemic.

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

    The highest STI diagnosis rates were recorded in younger people. Among 15- to 24-year-olds, diagnoses increased 26.5 per cent in 2022, with cases of gonorrhoea almost doubling. Chlamydia remains the most frequently diagnosed STI in the UK, with almost 200,000 cases recorded, more than half of the total number of STIs diagnosed. It often has no symptoms but, if left untreated, can cause health complications in women, including pelvic inflammatory disease and infertility. Last year, 690,000 young women were tested in a national screening programme, which found a positivity rate of 10 per cent.The World Health Organization estimates that more than 1mn diagnoses of STIs are made every day worldwide. Efforts to reduce the number of infections include promoting the regular use of condoms and vaccines, while obstacles include increasing antimicrobial resistance to many antibiotics used to treat STIs.Alan SmithOur other charts of the weekThe number of foreign graduates granted the right to work in the UK more than doubled in the three months to March compared with the same period last year, according to the Home Office. In the first quarter of this year, 37,692 graduate visas were issued, up from 17,013 in the first three months of 2022. Students from India account for the largest share of visas, which permit international students to stay in Britain for two years after graduating, or three years if they have completed a PhD. Before the post-study work visa was reintroduced in July 2021, students with bachelor’s or master’s degrees had to find work within four months of graduating.But some higher education leaders said this was a temporary surge following the easing of Covid-19 restrictions and that numbers would fall, particularly in light of UK home secretary Suella Braverman’s decision to ban most international students from bringing dependants with them.Countries such as Australia and Canada offered longer post-study stays under certain conditions, said Andrew Bird, head of international marketing at Bournemouth University. “While every other market is expanding this route, the UK is contracting — at a time when attracting overseas students is getting more competitive,” he added.Georgina Quach

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

    More than a quarter of young people aged 15 to 29 in the EU live in overcrowded households, according to Eurostat.There are wide variations in the figures on a country-by-country basis: more than 60 per cent of young Romanian adults live in overcrowded households compared with less than 4 per cent of young Cypriots. However, the overcrowding rate is higher for younger adults than the general population for every country in the bloc. The rate of overcrowding for young people is more than twice that of the overall population in Denmark, the Netherlands and Finland.A person is considered to be living in overcrowded conditions if their household does not have an appropriate number of bedrooms. For example, a couple should have their own room, as should every single person aged 18 and older, while there should be one room per pair of single people of the same gender aged 12 to 17 and one room per pair of children younger than 12.The figures published are for 2021, a period when concern was expressed for the wellbeing of young people living in lockdown conditions, but the overcrowding rates remain broadly similar to levels seen before the pandemic.Alan Smith

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

    The UK’s Office for National Statistics used World Environment Day to highlight how households are the largest single contributor to the nation’s emissions. More than a quarter of the total is related to emissions by consumers, primarily from heating homes and commuting to work by car.Despite a 57 per cent fall in energy sector emissions from 2006, overall emissions in 2021, the latest figures available, were up 3 per cent compared with 2020 figures. The UK has pledged to reduce economy-wide greenhouse gas emissions by at least 68 per cent by 2030, compared with 1990 levels. Ian Bott

    You are seeing a snapshot of an interactive graphic. This is most likely due to being offline or JavaScript being disabled in your browser.

    The number of unilateral restrictions imposed by countries on cross-border trade and investment has grown significantly over the past decade, reversing the trend of liberalisation seen during most of the 20th century.In 2022, restrictions on goods, services and investment jumped 14 per cent, compared with the previous year, to more than 2,600, according to Global Trade Alert data compiled by the IMF. This is more than six times higher than in 2013.During the pandemic, many countries restricted exports of medical goods and foodstuffs. More recently, Russia’s war in Ukraine and competition between countries such as the US and China have fomented further protectionism.Trade restrictions, such as tariffs and export bans, have proliferated in sectors including commodities and semiconductors, which are often viewed as central to national security. Alex Irwin-HuntWelcome to Datawatch — regular readers of the print edition of the Financial Times might recognise it from its weekday home on the front page.Do you have thoughts on any of the charts featured this week — or any other data that has caught your eye in the past seven days? Let us know in the comments.Keep up to date with the latest visual and data journalism from the Financial Times:Data Points. The weekly column from the FT’s chief data reporter John Burn-Murdoch.Climate Graphic of the Week is published every week on our Climate Capital hub page.Sign up to The Climate Graphic: Explained newsletter, free for FT subscribers. Sent out every Sunday, a behind-the-scenes look at the most topical climate data of the week from our specialist climate reporting and data visualisation team.Follow the FT on Instagram for charts and visuals from significant stories.Follow FT Data on Twitter for news graphics and data-driven stories from across the FT. More

  • in

    Binance, Coinbase head to court, and the SEC labels 67 crypto-securities: Hodler’s Digest, June 4-10

    The total number of cryptocurrencies the United States securities regulator has labeled as a security has now reached an estimated 67, after adding a few more to the list in its lawsuit against crypto exchanges Binance and Coinbase. In its case against Binance, the SEC introduced 10 cryptocurrencies into the securities classification, while it named 13 cryptocurrencies in its Coinbase suit. The security label now applies to over $100 billion worth of the market, or around 10% of the $1.09 trillion total crypto market capitalization.Continue Reading on Coin Telegraph More