Cement import shortcuts
20 January 2021
Cement imports were one of the themes in this week’s news, with stories on the topic from South Africa and Ukraine. The former concerned the latest chapter in that industry’s saga on slowing down imports. The International Trade Administration Commission (ITAC) has started a review on tariffs imposed on cement from Pakistan that were introduced in 2015.
Local producers in South Africa have experienced mixed fortunes since 2015, such as PPC and AfriSam’s failed merger attempt or the introduction of a local carbon tax, and were starting to complain again about imports even before the effects of coronavirus in 2020. This led the Concrete Institute to lobby ITAC in 2019 about rising imports from other nations, principally Vietnam and China.
Despite Brexit agreement, managers still face issues
Leonard Ng
While Brexit is operationally becoming a smaller risk for managers that have now largely secured permissions for their companies to operate in the European Union, they say challenges remain.
Leonard Ng, partner at law firm Sidley Austin LLP in London, said the Dec. 24 agreement of a trade deal between the EU and the U.K. does not mean that U.K.-based firms are getting financial services equivalence. Equivalence permits U.K.-based firms to sell strategies and services to European Union-based clients. In its absence, Mr. Ng warned that any firms selling financial products to EU investors will be breaking the law unless they have secured licenses to operate in their clients member states.
Risk.net
Mid-2021 clearing, margin thresholds loom as LME, Ice futures lose exchange-traded status in EU Print this page
European Union-based users of some popular UK-listed commodity contracts saw their trades reclassified as over-the-counter on January 4 after the Brexit transition period expired without a deal on equivalence for trading venues.
Brent oil contracts at Ice Futures Europe and aluminium futures traded at the London Metal Exchange (LME) are among the affected contracts. EU corporates that continue to trade the contracts must meet additional reporting requirements and could face greatly increased
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Brexit: UK Regulator Offers Temporary Relief on Swaps Trading
Brexit: UK Regulator Offers Temporary Relief on Swaps Trading
British companies can approach EU platforms till March 2021.
Arnab Shome
2020-12-31T12:58:05+00:00
2020-12-31T13:41:05+00:00 Photo: Finance Magnates
The UK’s Financial Conduct Authority (FCA) has announced on Thursday that it will allow British companies to approach the European Union-based platforms for derivatives trading until the end of March 2021.
This decision came hours before the expiry of the 11 months long transition period of Brexit on December 31. Though the two parties have agreed on a deal for the divorce, London’s massive financial services did not receive much attention.