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Tuesday, September 28, 2021

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Barcelona and Real Madrid object to a deal to buy a stake in the Spanish League
Spain's two most famous soccer clubs, Real Madrid and Barcelona, ​​have challenged CVC Capital's agreement…
Saint-Germain continues its strong run and beats Montpellier with a double
Paris Saint-Germain produced a coherent display in the first half to maintain their perfect record…
Saudi Arabia eases Corona restrictions for those coming from abroad
The Saudi General Authority of Civil Aviation issued new instructions to airlines operating in the…
Barcelona announces that Braithwaite has undergone surgery
Barcelona announced in an official statement that its Danish striker, Martin Braithwaite, underwent successful surgery…
127.2 million dollars in losses for Manchester United due to Corona
The English Premier League club, Manchester United, announced that it incurred significant financial losses at…

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The specter of an energy crisis in Europe haunts global markets

Europe is more reliant on natural gas to heat homes and meet the energy needs of factories than ever before, and the increasing demand comes amid efforts to stop reliance on coal, and a general trend to use clean energy sources.

Winter in the northern hemisphere is expected to drive up natural gas prices in most parts of the world.

The sharp rise in natural gas prices has forced some of the fertilizer producers in Europe to cut production, with more factors expected, which may increase costs for farmers, amid the possibility of an increase in global food inflation, according to Bloomberg.

global energy crisis
There is not enough natural gas to fuel the economy recovering from the “post-coronavirus period,” and this poses obstacles to refilling depleted stocks before the December frost arrives. If the winter is cold, “the concern is that there is not enough natural gas” to use for heating in parts of Europe.

Hochstein added that for some countries, “the damage will not only be in the value of the recession but will affect the ability of European countries to provide natural gas for heating, which “affects everyone’s lives.”

Qatar’s Energy Minister, Saad Al-Kaabi, warned at an industry conference this month that the demand for natural gas is unprecedented from all of Qatar’s contractors, but “it is not possible to provide care for everyone,” he said.

It is possible that the “cold surprise” will force more energy companies to plunge into the market to buy emergency supplies of gas at high prices, and that is exactly what happened last December.

Countries are seeking to meet their energy needs in light of fierce competition for natural gas, and natural gas exporters such as Russia are moving in parallel, to increase the supply of natural gas, and the crisis is expected to worsen if temperatures drop.

The crisis in Europe portends trouble for the rest of the world, and the reason is that the lack of energy in Europe was the indicator to warn governments of the possibility of outages and total closure of factories, as for stocks in European warehouses, they reached their lowest levels “historically”, according to Bloomberg.

The concern is over the prospect of calmer weather, which could reduce wind turbine power production, while Europe’s most popular nuclear plants are being phased out, leaving natural gas topping global demand, while pipeline flows from Russia Norway is limited.

LNG importers in Asia are currently paying record prices to secure supplies, with some starting to spill polluting fuels such as coal and heating oil if they don’t get their energy.

The lack of energy in general increases the obstacles to achieving sustainable energy goals. Natural gas emits carbon monoxide, which is emitted by coal when burned.

China has not filled up stocks quickly enough despite being the world’s largest buyer of natural gas, considering that imports were double what they were last year, according to customs data.

Several Chinese provinces are also rationalizing electric power for various industries, in order to achieve President Xi Jinping’s goals in terms of energy efficiency, reducing pollution, and relying on clean energy.

Slowing flows in Brazil’s Parana River Basin have reduced hydropower production, while the Brazilian government is forced to rely more on natural gas.

While Brazil boosted gas imports to their highest levels in July, energy bills also rose. With inflation soaring, President Jair Bolsonaro’s chances in next year’s elections could be damaged.

The cost of securing Japanese government supplies has sparked political controversy in Pakistan, where opposition politicians have demanded an investigation into procurement by the state-owned importer.

The British crisis continues
British Transport Secretary Grant Shapps accused truck industry representatives on Sunday of helping spark a gasoline crisis as he defended “post-Brexit” immigration policy to ease a mounting supply crisis.

High energy prices in Britain have forced many suppliers out of business, with gas prices in Europe rising 500% last year.

The prospect of accelerating energy costs, combined with backlogged supply chains and high food prices over a decade, may make more central bankers wonder whether the jump in inflation is as fleeting as they had hoped.

oil prices
Goldman Sachs raised its year-end Brent price forecast to $90 a barrel, from $80, as demand for fuel recovered at a faster-than-expected rate.

Crude traded at $79.19 a barrel, while the price of West Texas crude was at $75.08 a barrel, according to Reuters.

Goldman Sachs lowered its forecast for oil prices for the second and fourth quarters of 2022 to $80, from $85 a barrel.

While oil producers expect global fuel demand to return to pre-Covid-19 levels by next year, as the economy recovers from the consequences of Covid-19, the excess refining capacity represents an effective pressure, and oil sector leaders said that despite the continued increase in Cases of virus infection in many markets, which harmed the demand for some petroleum derivatives such as jet fuel, the consumption indicators for diesel and gasoline indicate higher growth.

Barcelona and Real Madrid object to a deal to buy a stake in the Spanish League

Spain’s two most famous soccer clubs, Real Madrid and Barcelona, ​​have challenged CVC Capital’s agreement to buy a stake in the country’s biggest soccer league.

The two clubs, along with Athletic Bilbao, said in two separate statements that they had appealed the agreement reached last month between the British-based private equity company and the La Liga club, without going into further details. .

CVC has agreed to invest about 2.1 billion euros ($2.5 billion) in exchange for an 11% stake in a new company that will manage broadcast revenues for Spain’s biggest soccer competition. The deal includes La Liga clubs receiving much-needed funds to spend on infrastructure, refinance debt, and sign players.

On August 12, all clubs approved the “CVC” plan except for 4 of the first and second division clubs.

Barcelona, ​​Real Madrid, and Athletic Bilbao clubs refused to count their revenues with the revenues of the rest of the clubs, while Real Oviedo, owned by a company run by Mexican billionaire Carlos Slim, voted against the decision at first, but returned and agreed to it.

A LaLiga spokesperson said in an emailed statement: “It is amazing that they are challenging something that will not actually affect them.”

An agreement between the US judiciary and the financial director of “Huawei” to resolve criminal charges against her

Ming Wanzhou, the chief financial officer of Huawei Technologies, and the US Department of Justice have reached an agreement to resolve criminal charges against her.

Federal prosecutors in Brooklyn, New York, told the US judge presiding over Meng’s case that they would appear in court on Friday afternoon “to consider before this court a decision on the charges against the defendant.”

Ming will get a deferred agreement to prosecute, according to a person familiar with the matter. The agreement means that Ming will not plead guilty. It has not yet been determined whether she will be allowed to return to China. Dow Jones said she would be able to return.

Prosecutors allege that Huawei and Ming lied to HSBC Holdings about Huawei’s relationship with a third company that was doing business in Iran, as part of a scheme to violate US trade sanctions on Tehran. But Huawei has said it is not guilty.

Meng, Huawei’s chief financial officer, was arrested in December 2018 in Vancouver, Canada, as she was resisting a US extradition request.

John Marzolli, a spokesman for Brooklyn’s acting attorney general Jacqueline Casoulis, declined to comment on Meng’s case. US Department of Justice officials did not immediately respond to requests for comment.

A possible solution to the issue comes just days after the Canadian election in which Prime Minister Justin Trudeau faced harsh criticism from the rival Conservative Party over his handling of relations with China. In the days following Meng’s arrest in Vancouver, Beijing detained two Canadians on national security charges. Trudeau’s current liberals won a third term, but the prime minister was unable to regain majority control of the legislature, and the continued detention of the two men remains a central issue in his government’s foreign policy.

Meng was accused of making a personal presentation in August 2013 to an executive of one of Huawei’s major banking partners, in which she lied about the relationship between her company and the third company. Prosecutors raised the stakes last year by adding conspiracy charges against Huawei, charges the Chinese company said it was innocent of.

Prosecutors and lawyers for Huawei have fought a battle over evidence since the case was revealed in early 2019. The company recently lost a battle to get more evidence from the government based on materials the United States submitted in Canada’s extradition request.

Exorbitant energy prices put Europe’s climate plans to the test

The record rise in energy prices could not have come at a worse time for Europe’s ambitious new climate plan, as politicians are just beginning to talk about how to implement the world’s most comprehensive emissions-reduction strategy.

The energy crisis threatens to send double-digit increases in consumer electricity bills months ahead of the winter cold and is putting pressure on industry giants. As European governments scrambled to mitigate the impact on consumers, Greece, for example, promised support for energy bills, while threats of blackouts in the UK last week were a vivid reminder of the fragility of energy supplies.

for the European Union, which proposes banning new fossil-fuel cars by 2035, and imposing new costs on dirty home heating; The high costs of such an ambitious plan will make it difficult to persuade voters, who are already struggling with high utility bills.

“Of course, the current level of energy prices has the potential to make discussions about the climate package more complex,” said Peter Weiss, senior adviser at Rud Pedersen Public Affairs and former political assistant to the EU’s first climate commissioner. Weakening the package due to today’s energy crisis would detract from the long-term solution to reducing Europe’s dependence on fossil fuels without addressing the cause of the pressure on gas supplies.”

Natural gas and energy prices have risen to all-time highs in the 27-nation region, as the economies of the European bloc recover from the Covid-19 pandemic. The increase in demand comes amid limited gas imports from Norway and Russia, with some countries accusing Moscow of manipulating supplies. At the same time, the EU’s strategy to accelerate emissions reductions in every sector from transport to manufacturing and agriculture has boosted demand for carbon permits, with prices more than doubling over the past two years to new record levels.

The European Union wants to lead the global fight against climate change and to set an example for other major missions such as the United States and China, whose overarching goal of the Green Deal strategy is to reach net-zero emissions by 2050.

The green package unveiled in July aims to align the economy with a stricter 2030 target of reducing emissions by at least 55% from 1990 levels. The laws need approval by the European Parliament and member states of the Council of the European Union, with the right to Each institution is in the process of adjusting the plan, a process likely to take about two years.

Saint-Germain continues its strong run and beats Montpellier with a double

Paris Saint-Germain produced a coherent display in the first half to maintain their perfect record in Ligue 1 with a superb goal from Idrissa Gaye to lead his team to a 2-0 victory over Montpellier.

The Senegalese midfielder fired a shot from the edge of the penalty area to give his team the lead, before substitute Julian Draxler scored the second goal near the end to raise the capital’s team’s tally to 24 points, ten points ahead of Olympique Marseille, who is in second place, who hosts Lens on Sunday and has two matches postponed. .

Nice is in third place after returning to the victories with a 3-0 win away to bottom-of-the-table Saint-Etienne.

The defending champion Lille achieved its second successive victory thanks to Jonathan David’s double in a 2-1 victory over Strasbourg.

Elon Musk announces his split from Canadian singer Grimes

American billionaire Elon Musk has announced his separation from Canadian singer Grimes after a 3-year relationship.

Musk said, according to the “Seventh Day” website, on the British “BBC” network, that they still meet often and have a good relationship, but work always causes them to be separated for long periods.

He added, “My work with SpaceX and Tesla requires me to be in Texas mainly or to travel abroad, and its work is centered in Los Angeles.”

Grimes, whose real name is Claire Ellis Bouchet, has not yet commented on her split from Musk.

It is reported that Musk was previously married to Canadian writer Justin Wilson, and British actress Tallulah Riley.

A restaurant employee kicks Nicolas Cage out into the street barefoot

In a surprising incident of the international star’s behavior, an employee of a luxury restaurant expelled the American star Nicholas Cage to the street barefoot, after he behaved aggressively with restaurant workers.

The photographers’ lenses monitored the arrest of the international star Nicolas Cage, while drunk, inside a famous restaurant in the US state of Las Vegas, after he got into a big fight with the restaurant’s employees and workers.

The English newspaper, The Sun, reported the details of the arrest of the 57-year-old international star, which began with Cage taking off his shoes in the restaurant, and addressing him to the workers in the restaurant in a loud voice while telling the workers that he did not have any shelter.

Cage appeared in the video published by the English newspaper, as he exited the Lawry’s Prime Rib restaurant near the famous Las Vegas last week, and the report stated that the workers in the restaurant did not recognize the Oscar-winning star, and after learning his true identity, they called for security.

The report quoted some details from workers at the luxury restaurant, who confirmed that Nicolas Cage was aggressive, and Cage appeared wearing leopard-print pants, sitting on a sofa while he was barefoot.

Cage was recently contracted to star in Butcher’s Crossing, an adventure based on John Williams’ original 1960 novel about the rugged frontiers of the American West, slated to be directed by Abe Polsky.

The film will be produced by Altitude Group, which produces, finances, and has British and Irish distribution rights, as well as an international sale at Cannes Market, which began today, with the market opening ahead of next month’s festival.

After gaining 6000% in “Getir”, a Turkish investment company finds a new lover

The investment company that early supported Getir will prepare for its next step after its investment in the Turkish delivery app achieved a gain of nearly 6000% in value.

Re-Bay Asset Management Inc. sees significant opportunities in Turkey’s ‘Buy Now, Pay Later’ segment, a business model that is enjoying a global boom moment.

Re-Pay made its latest fintech investment in Colendi, a financial services platform with 2.4 million users, at a valuation of $120 million, just below the valuation that Geter snapped when it backed it. Asset manager in 2018.

“Kolindi fulfills all the ingredients to become the next unicorn company in Turkey,” said Emre Kamilibal, Chairman of RePay’s board of directors, in Istanbul.

Getter, along with e-commerce platform Trendyol, is spearheading a group of technology start-ups shaking up the corporate system structure in Turkey, and Hepsipurada.com, another major online shopping platform, and the first Turkish company to list on Nasdaq. “.

Gulf funds expect strong growth over the next year

Fund managers in the six countries of the Gulf Cooperation Council expect strong growth over the next year, supported by a growing demand for Islamic products and investments.

A study conducted by “Moody’s” credit rating agency said that half of the investment officials in the largest financing companies in the region expected a growth rate of more than 10 percent in net inflows, while a third of them expected a modest increase. Moody’s did not mention the names of those funds, according to “Reuters”.

Eighty percent of those surveyed expected a modest increase in investments, while 20 percent expected a slight decrease.

“About 25 percent of executives said that they have not yet incorporated environmental, social and corporate governance standards into their investment management decisions,” Moody’s added, noting that “the natural intersection between sustainable investing and Sharia-compliant social principles creates opportunities for the Islamic finance industry.”

More than 60 percent of CEOs said that Islamic financing instruments that are compliant with Islamic principles will see increased demand over the next year. Moody’s highlighted that Sharia principles include the prohibition of investing in tobacco, gambling, and the alcoholic beverage industry.

About half of the GCC-based funds surveyed by Moody’s said they were ready for mergers or acquisitions within the next two years, which the agency described as evidence of the sector’s growing sophistication and fierce competition.

Moody’s said that the decline in oil prices may constrain government spending and reduce economic growth, with negative consequences for asset managers and stock market returns, which in turn affects the assets of funds under management.

Galatasaray is preparing to earn money from Mostafa Mohamed! Zamalek demanded it back and gave that figure.

Despite the yellow-reds’ departure to Bordeaux at the beginning of the season, there was an important development regarding the striker Mostafa Mohamed, whose transfer was canceled at the last moment. According to the claim in the Egyptian press.

Zamalek club wanted Mostafa Mohamed back from Galatasaray. Mostafa Mohamed, whose rental contract continues until the end of the season, answered the yellow and red people: If you want to get it back, you give that money! Here are the details… (Fotomac.com.tr | FOREIGN NEWS) | gs news

A flash development in the Egyptian press about Galatasaray’s Mostafa Mohamed was conveyed to the readers. Accordingly, Mohamed can return to Zamalek, where his testimonial is located.

Zamalek club, who wanted Mostafa Mohamed, who is known to be unhappy in Galatasaray, from the yellow and red people, started negotiations on the subject.

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