Xinhua’s Global Economic News Summary at 10:00 GMT, September 11
ISLAMABAD – Pakistan International Airlines (PIA) has decided to resume commercial flights to Kabul, capital of Afghanistan, from September 13, the airline said on Saturday.
“Pakistan’s official flag carrier will resume air operations to Kabul,” PIA director general Arshad Malik told Xinhua, adding that the first flight would leave for Kabul on Monday from the Pakistani capital of Islamabad. (Pakistan-Afghanistan-Flights)
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SANTIAGO – Chile began on Friday in its southern region of Magallanes the construction of Latin America’s largest project to produce synthetic gasoline from green hydrogen.
With an investment of US $ 51 million, the Haru Oni project of the Highly Innovative Fuels consortium will use wind power and carbon dioxide extracted from the atmosphere to produce 350 tonnes of raw methanol as well as 130,000 liters of e-Fuel per year by the end of 2022, according to the company.
“This is the decade to make the economy carbon-free,” said Chilean Minister of Energy and Mines Juan Carlos Jobet, who virtually participated in the inauguration ceremony. (Chile-Green-Latin America project)
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WASHINGTON – The United States has submitted an initial offer to the European Union (EU) that involves a tariff quota system to resolve a three-year dispute over the steel imported from the block, Bloomberg reported on Friday, citing a person familiar with the situation.
US and EU officials will discuss the issue at the inaugural US-EU Trade and Technology Council meeting on September 29 in Pittsburgh, according to the report, adding that the initial US offer- United related only to steel and did not include aluminum shipments.
Tariff rate quotas allow countries to export specified quantities of a product to other countries at lower tariff rates, but subject shipments above a predetermined threshold to a higher tariff, according to the report. (US-EU-Steel rates)
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BRUSSELS – Despite a stronger-than-expected second quarter, clouds are still looming on the horizon and countries must remain vigilant in the face of the COVID-19 pandemic and possible supply bottlenecks, a European Commissioner for the Economy Paolo Gentiloni said on Friday.
Speaking at a press conference following a meeting of the Eurogroup of euro area finance ministers, he also spoke of the risk of rising inflation across the Union European Union (EU), “which we consider temporary”. (EU-Economy-COVID-19)