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China ready for action over US unilateral, protectionist trade practices

China will take necessary measures to protect Chinese enterprises' interests if the United States sticks to unilateral protectionist trade practices, the Ministry of Commerce said Thursday.

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‘Piraterij is nog steeds een factor voor reders’

‘Piraterij is nog steeds een niet te onderschatten factor voor reders.’ Dat zegt Karin Orsel, voorzitter van de Koninklijke Vereniging van Nederlandse Reders KVNR in een Forum-artikel dat maandag verschijnt. Het Internationaal Maritiem Bureau (IMB) van de Internationale Kamer van Koophandel (ICC) stelde juist dat de bedreiging voor scheepvaart door piraterij is afgenomen.

Volgens het Internationaal Maritiem Bureau heeft de piraterijdreiging voor de internationale scheepvaart haar laagste punt bereikt in 22 jaar. Het Bureau registreerde vorig jaar 180 gevallen, in 2016 waren dat er 191. Bij aanvallen in 2017 werden drie bemanningsleden gedood, raakten er zes gewond en er werden 91 zeelieden gegijzeld. De Golf van Guinee en de kust van Nigeria zijn het meest gevaarlijk, zegt het IMB. In de beruchte wateren voor de Somalische kust wateren, waar koopvaardijschepen werden beschermd door NAVO-marineschepen, waren negen aanvallen van piraten. Daaronder een raketaanval.

‘Piraten zijn natuurlijk niet gek’, zegt Orsel in het Forum-artikel. ‘Ze verplaatsen hun werkgebied als er marine-bescherming is. Zodra de marine weg is, gaan ze weer in hun oude regio verder. De afgelopen week heb ik toch al weer drie of vier meldingen van piraterij gekregen. Je ziet dat er een ook soort golfbeweging is. Als het orkaan- en tornadoseizoen begint, neemt piraterij af. Daarna laait het weer op.’

De reders vragen al jaren om toestemming voor het inhuren van private beveiligers aan boord. De Nederlandse regering wilde daar tot nu toe niet aan omdat zij het geweldsmonopolie bij de marine willen houden. Volgende maand praat de Tweede Kamer echter over een wet om die beveiligers wél toe te staan. ‘Wij zitten echt niet te wachten op een groep Rambo’s aan boord’, aldus Orsel, tevens ceo van rederij MF Shipping Group. ‘Maar het gevolg van de huidige situatie is dat reders besluiten sommige routes niet te varen. Ze doen bepaalde havens niet aan of nemen een omweg, met alle kosten van dien. Wij zijn het enige land in Europa dat nog niet zo’n regeling voor private beschermers heeft. En dat maakt varen onder de Nederlandse vlag ook weer iets minder aantrekkelijk.’

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China dismissed media report on US bonds as nonsens. Euro (0.06%) vs. US-Dollar at $1.1946; China reportedly told “it was diversifying its foreign exchange reserves”. 

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London: Card Factory warns of limited earnings growth

Card Factory said the sales performance over the Christmas period at gettingpersonal.co.uk, its online personalised gifting business, was disappointing. It said that across the group, like-for-like sales growth had been driven primarily by lower margin non-card categories, such as gifts and dressings, with card sales stable year on year.

It said: 'Given this, and the previously announced margin pressures being experienced by the group, the board currently expects underlying EBITDA for the current year to be in the range £93.0-95.0m.' An update for the 11 months to the end of December said that total year-to-date sales growth was 5.9% (11 months ended 31 December 2016: +4.3%).

Other highlights: - Strong year-to-date like-for-like store sales growth of 2.7% (11 months ended 31 December 2016: +0.4%), with solid performance over the Christmas trading period - 48 net new UK stores opened in the period, with 50 net new stores expected by the year end - cardfactory.co.uk had a strong Christmas trading period from a low base - gettingpersonal.co.uk sales performance is broadly flat for the year to date - Continued margin pressure leading to expected underlying EBITDA for the year to be in the range £93.0-£95.0m

Chief executive Karen Hubbard said: 'As I approach my second anniversary with the business, it is pleasing to report that Card Factory has traded well through the competitive Christmas trading period with customers once again responding positively to our card and non-card ranges. 'As a result, like-for-like store sales have improved in the year to date.

"As we have reported previously, the Group has faced significant cost pressures in the year; these, together with the further change in margin mix given the ongoing out-performance of lower-margin non-card categories, are reflected in our expected outturn.

'We anticipate that the combined impact of foreign exchange and wage inflation in FY19 will result in £7-8m of additional costs; whilst we have plans to mitigate this impact as far as possible, we recognise that against this backdrop, any EBITDA growth for the year is likely to be limited.

'Looking further ahead, cost headwinds should ease unless there is a further dramatic shift in sterling. 'We believe that our market leading proposition, underpinned by our unique vertically integrated model, provides our business with significant competitive advantage. 

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Pilots fired by fight in cockpit; Pilot reportedly slapped co-pilot on flight from London to Mumbai

Jet Airways has fired two of its pilots (male and female) after they reportedly fought inside the cockpit, and at times abandoned their posts, on a New Year’s Day flight.

A spokesperson for the airline told in a statement today that after reviewing reported events on board Flight 9W 119 from London to Mumbai on Jan. 1, "Jet Airways has terminated services of both the cockpit crew with immediate effect."

It was reported that a male pilot allegedly slapped the female co-pilot in the cockpit mid-flight, “after which she left the cockpit in tears.”

The male pilot twice "left the flight unmanned when when he came out to persuade her to return to the controls."

The airline said the flight, which was carrying 324 passengers and 14 crew members, landed safely.

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Sale Alitalia: AirFrance-KLM, EasyJet, Lufthansa are mentioned, but no official confirmation (yet),

Alitalia’s special administrators are set to choose the successful bidder with whom they want to begin exclusive negotiations about the bankrupt airline’s future within days, Italy’s economic development minister said.

Carlo Calenda told Italian radio station Radio Capital that the administrators who have been running the airline since the Italian flag carrer filed for bankruptcy in May—70 years after its first flight—hope to choose the best among the three bidders.

Sale Alitalia: AirFrance-KLM, EasyJet, Lufthansa are mentioned, but no official confirmation (yet)

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Sweden and NATO – 23 years down the road; close partner but not a member; militarily non-aligned but not neutral!

After twenty years of cooperation with NATO, starting with the Partnership for Peace back in 1994, Sweden was one of five partners granted enhanced opportunities for dialogue and cooperation at the Wales Summit in 2014, my first as Swedish ambassador to NATO. The status of Enhanced Opportunities Partner provided a platform for developing a more flexible and individualised relationship, in addition to other partner formats.

In Sweden, like in most European countries, the developments in 2014 brought defence and security policy back to the top of the political agenda. The end of the Cold War had given birth to the notion that eternal peace was here and the following decades were characterised by less focus on national defence.

The absence of clear threats to our national security made us gradually abandon our previous concept of a strong national defence designed to prevent and avert a possible full-scale invasion. Consecutive governments cut back on defence budgets. The priority became first and foremost contributions to international missions, aiming to stabilise Europe and its neighbourhood. A transition took place, resulting in a leaner and meaner version of national defence with a particular focus on expeditionary forces.

Presently our biggest international military contribution is to Mali (MINUSMA). Over time more than 80,000 Swedish men and women have served in UN, EU, NATO and other peace-support missions around the world. Sweden has been part of all NATO-led missions under a UN-mandate and is still actively supporting the Kosovo Force in the Western Balkans and the Resolute Support Mission to train, advise and assist national security forces and institutions in Afghanistan. This has been instrumental in building interoperability between the Swedish Armed Forces and international partners but should also be seen as an act of international solidarity.

After the Cold War era (1949-1989) and the following decades of NATO focusing on international crisis management missions, our new status as Enhanced Opportunities Partner also coincided with the decision by NATO to adapt and refocus, to reflect the new realities. The deteriorating security environment and the need for NATO to focus on collective defence and the defence of Europe, underlined our mutual interest of working even closer together. The need to view the Baltic Sea region as one strategic area became a natural driving force for our broadened cooperation.

Sweden identified three areas of priority: political consultations, exercises and information sharing. Over the last three years, we have covered a lot of ground in all of these. At the Warsaw Summit in 2016, NATO emphasised the need to develop regular political consultations, shared situational awareness and joint exercises with Finland and Sweden. It has been both educational and rewarding to work with colleagues from the Allied countries and the NATO staff in furthering this agenda.

Sweden coincided with Russia’s illegal annexation of Crimea and military intervention in Eastern Ukraine, and also with our defence bill for 2016-2020. Our common challenges are greater and more complex than in decades.

Regional powers and non-state actors are testing their strength against neighbours, other states, and international institutions. The threats are manifold and more complex. Military readiness and capabilities will continue to be of vital importance but will not suffice in responding to terrorist, cyber or hybrid threats. These can only be addressed through more international cooperation, not less.

In this regard, it is encouraging to note the recent steps forward in NATO-EU cooperation. Sweden was among the EU member states declaring their intentions to join the new Permanent Structured Cooperation (PESCO) – a treaty-based framework and process to deepen cooperation on security and defence within the European Union among those members who are capable and willing to do so.

The European Union, NATO and the United States, together with global partners, must continue to stand up for a world order based on international law and respect for human rights. A strong transatlantic link is important for the stability of NATO and Europe. By acting together in international fora, operations and exercises, we raise the threshold against aggression.

Along with the UN Charter, the principles and commitments of the Organization for Security and Co-operation in Europe (OSCE) constitute the normative foundation for European security. A key element in this is the right of all states to territorial integrity and to make their own security policy choices, including the principle that national borders may not be changed by use of force. Sweden welcomes the European Deterrence Initiative by the United States as well as the increased NATO presence in the Baltic Sea region, which contribute to regional stability as a whole. Sweden’s response to Russia’s aggressive military posture and unpredictable actions encompass strengthened national defence and increased security cooperation. Combined with active diplomacy through dialogue, this offers an opportunity to reiterate our continued support for international law, democratic values and principles.

Our national security is our main responsibility and is directly linked to peace and stability in northern Europe. This year, the Swedish government adopted a National Security Strategy, a framework document defining national interests and threats in various fields. Swedish defence policy focuses on two parts: to upgrade national military capability and to deepen cooperation with other nations and organisations. This policy has broad parliamentary support.

From 2015, we see a new trend in Swedish defence spending. The government decided then, for the first time in more than two decades, to increase defence spending by 11 per cent by 2020. The budget was further strengthened this year through a multi-party agreement bringing the total increase over the five years to 17 percent.

Sweden is currently engaged in building a network of defence cooperations. We have a special and longstanding relationship with Finland, also a militarily non-aligned nation and an Enhanced Opportunities Partner. Together we plan for joint actions in peacetime, as well as beyond. We work closely with the Nordic and Baltic countries as well as with Germany, Poland, the United Kingdom and the United States.

This year, the Swedish government decided to re-activate the national conscription system. Conscription for both women and men will start from the 1st of January 2018 and the plan is to enlist/enroll approximately 4000 recruits the first year.

Other examples of our priorities are the re-established military presence on the island of Gotland and increased training activities and exercises. Participating in NATO’s most advanced and complex exercises is instrumental in developing interoperability and preparing for possible future coordination with partner countries. Two next-generation submarines are under construction. Additional investments will be made in anti-submarine warfare capabilities. In the air defence area, we will continue investing in a new generation of Gripen fighters and recently the government decided to enter into a procurement process regarding the Patriot air defence system. A final decision on the acquisition is expected during 2018.

While the key priority in the defence bill is to enhance the warfighting capability of the Armed Forces, it also includes the objective of re-establishing a whole-of-government approach to security, building resilience in line with the seven baseline requirements adopted by NATO at the Warsaw Summit.

While still militarily non-aligned, Sweden is no longer aiming for neutrality in case of a conflict, as was the case during the Cold War. Back then our doctrine stated that we were non-aligned in peacetime with the purpose of maintaining neutrality in the case of war. With our membership of the European Union in 1995, the old neutrality doctrine became obsolete, notably with the signature in 2007 of the Lisbon Treaty and its Article 42.7 (which puts an obligation on EU members to assist and support with all means another member state under attack, in line with Article 51 in the UN Charter).

Sweden’s largest national military exercise in over 20 years, Aurora 17, took place from 11 to 29 September 2017. Pictured is an amphibious battalion moving in formation in Sweden’s southern archipelago, a key strategic location for the defence of the capital Stockholm.

In 2009, the Swedish parliament unanimously adopted a declaration of solidarity which has since formed part of our security policy doctrine. It reads “Sweden is not a member of any military alliance. Threats to peace and our security can best be averted collectively and in cooperation with other countries. It is impossible to imagine military conflicts in our region that would affect only one country. Sweden will not remain passive if another EU Member State or Nordic country suffers a disaster or an attack. We expect these countries to take similar action if Sweden is affected. Sweden should therefore be in a position to both give and receive military support.”

In 2016, the government adopted the bill on 'Memorandum of Understanding on Host Nation Support'. The aim of this MoU with NATO is to ensure that Sweden, as a host nation, can provide effective support for military activities on Swedish territory in connection with exercises, crises or military operations in Sweden and in our vicinity. In September this year, we conducted the national exercise Aurora, with participation from several European nations and the United States. This was the largest Swedish military exercise in over 20 years, involving almost 20,000 military personnel and over 40 agencies. Transparency was a guiding principle in planning and conducting the exercise. International observers, including Russia and Belarus, were invited in accordance with the Vienna Document (an agreement between OSCE participating states intended to implement confidence and security building measures).

The positive assessment of our first years as an Enhanced Opportunities Partner has now resulted in an extension of this status for another three years. I am convinced that we can continue to develop our cooperation further. While based on mutual interests and shared values, we must also take into account political and military restrictions distinguishing partner and Allied nations. We are eager to consult with the Allies and NATO officials on possible next steps and priorities. Let me finally express our gratitude for the generous support extended to us by Allied colleagues as well as by NATO staff in furthering our partnership!

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EUR -0.07% $1.1946 // Industrial production up by 1.0% in euro area; Up by 0.9% in EU28

Industrial production up by 1.0% in euro area; Up by 0.9% in EU28

Data over November 2017 compared with October 2017

In November 2017 compared with October 2017, seasonally adjusted industrial production rose by 1.0% in the euro area (EA19) and by 0.9% in the EU28.

October 2017, industrial production rose by 0.4% in the euro area and by 0.5% in the EU28. In November 2017 compared with November 2016, industrial production increased by 3.2% in the euro area and by 3.5% in the EU28.

Monthly comparison by main industrial grouping and by Member State

The increase of 1.0% in industrial production in the euro area in November 2017, compared with October 2017, is due to production of capital goods rising by 3.0%, durable consumer goods by 1.6%, intermediate goods by 1.1% and non-durable consumer goods by 0.1%, while production of energy remained unchanged.

In the EU28, the increase of 0.9% is due to production of capital goods rising by 2.4%, durable consumer goods by 1.4%, intermediate goods by 0.9%, energy by 0.4% and non-durable consumer goods by 0.2%.

Among Member States for which data are available, the highest increases in industrial production were registered in the Czech Republic and Germany (both +3.6%), and Luxembourg (+3.4%), and the largest decreases in Ireland (-9.4%), Croatia (-3.6%) and Hungary (-2.1%).

Annual comparison by main industrial grouping and by Member State

The increase of 3.2% in industrial production in the euro area in November 2017, compared with November 2016, is due to production of capital goods rising by 6.2% and both intermediate and durable consumer goods by 4.6%, while production of energy fell by 3.4% and non-durable consumer goods by 0.1%.

In the EU28, the increase of 3.5% is due to production of capital goods rising by 6.8%, intermediate goods by 4.8%, durable consumer goods by 4.6% and non-durable consumer goods by 0.3%, while production of energy fell by 2.0%.

Among Member States for which data are available, the highest increases in industrial production were registered in Slovenia (+9.9%), Romania (+9.3%) and the Czech Republic (+8.5%). Decreases were observed in Ireland (-10.1%), the Netherlands (-4.7%), Denmark (-2.7%) and Croatia (-1.6%).

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