BIZweek n°331 26 fév 2021
BIZweek n°331 26 fév 2021
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  • Parution : n°331 de 26 fév 2021

  • Périodicité : hebdomadaire

  • Editeur : Capital Publications Ltd

  • Format : (260 x 370) mm

  • Nombre de pages : 9

  • Taille du fichier PDF : 2,3 Mo

  • Dans ce numéro : interview de Subrahmanyam Jaishankar.

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VENDREDI 26 FÉVRIER 2021 BIZWEEK ÉDITION 331 LA TOUR DIRECT CONNECTIVITY WITH INDIA Dr Subrahmanyam Jaishankar  : « The ball is not in our court, but in yours… » The External Affairs Minister of India, Dr Subrahmanyam Jaishankar had an interactive session with the business community on the 23rd of February. The event, organised by the Economic Development Board (EDB) of Mauritius, focused on the theme ‘Comprehensive Economic Cooperation Partnership Agreement (CECPA) and Promoting India – Mauritius Trade and Investment ties’. During the interactive session, Anil Currimjee, President of the Joint Business Council India-Mauritius of the Chamber of Commerce, raised the issue of direct connectivity with India in the wake of COVID-19. « I hope we are not brought back 54 years into history, » he said. To which Dr Subrahmanyam Jaishankar responded « the ball is in your court » During the interactive session between Dr Subrahmanyam Jaishankar, External Affairs Minister of India, and the local business connectivity, on 23rd February, Anil Currimjee - president of the Joint Business Council India-Mauritius of the Chamber of Commerce – raised the issue of direct connectivity with India. « We have worked on the Comprehensive Economic Cooperation Partnership Agreement (CECPA) between Mauritius and India with pride for many years…maybe over 12 years. Now when we have reached the signature, the thoughts of flow and connectivity of goods and people come to mind. On the flow of people, I wanted to say, Air India landed in Mauritius some 54 years ago, and during this time we have had direct connectivity with India. The Joint Business Council, in 1997, negotiated with the Government about landing rights in Delhi. And yet, with the damage of COVID-19, we are faced with uncertainty and we do not whether we will have connectivity, and direct connectivity, with India in the coming months. We will work with the government and the authorities to make that happen, and hope that we are not brought back 54 years into history », he explained. Regarding this issue, the External Affairs Minister of India responded that for obvious reasons, right now, being the COVID-19, pretty much around the world bilateral air connectivity has been suspended or impacted. « What we have done, on our side, is to negotiate air bubbles, which are dedicated point to point flights as per agreed protocols. We work it out bilaterally. » Bubble flights refer to a bilateral travel agreement exclusive to two countries with the aim of resurrecting international air traffic amid a global pandemic, as regular international flights remain suspended, without the hassle of special permissions or restrictions Right now, India has negotiated with a number of countries in Europe, in America and some Asian countries. « So, to some extent, right now, the ball is not in our court, but in yours because we are open to flights coming in and out. But you are more restrictive because of your COVID-19 precautions. As the vaccination plans get on the way, it will give you the confidence to openup. It will take some time, globally, for air traffic to return to normal. We are going to see a transition phase of air bubbles and, of course, we will give priority to Mauritius as and when you reach that situation », he added. Which countries does India have air bubble arrangements with ? Currently, India has air bubble arrangements with 18 countries. These are the United States, the United Kingdom, Germany, France, the UAE, Maldives, Canada, Japan, Bahrain, Afghanistan, Nigeria, Qatar, Iraq, Oman, Bhutan, Kenya, Bangladesh and Ukraine. As per the arrangement with the United States, Air India has added thricea-week flights between Delhi and Newark. The airline is also operating flights between London and Delhi, Mumbai, Bengaluru, Kolkata, Ahmedabad, Kochi and Goa. India is further negotiating with 13 other countries to establish air bubble arrangements. These countries include Italy, New Zealand, Australia, Israel, Kenya, Philippines, Russia, Singapore, South Korea and Thailand. 4
VENDREDI 26 FÉVRIER 2021 BIZWEEK ÉDITION 331 C/a) Q) CL -10- « -15- « ACTA PUBLICA BUSINESS Copper surges above $9 000 as shortfall concern spurs rally Copper rose above $9 000 a metric ton for the first time in nine years, taking another step closer to an all-time high set in 2011 as investors bet that supply tightness will increase as the world recovers from the pandemic Copper is surging amid a broad rally in commodities from iron ore to nickel, while oil has gained more than 20% this year. The bellwether industrial metal has doubled since a nadir in March, boosted by rapidly tightening physical markets, prospects for rebounding economic growth and the expectation that a years-long era of low inflation in key economies may be ending. Investors are also piling into copper on a bet that demand will surge in the coming years as governments unleash unprecedented stimulus programs targeting renewable energy and electric-vehicle infrastructure, which will require huge volumes of the raw material. « The list of bullish factors for copper is extremely long, » Max Layton, head of EMEA commodities research at Citigroup Inc. said. « A lot of the most bullish developments are really going to play out in the next few months, and therefore we think it’s going to be sooner rather than later that it gets to $10 000. » In some areas of the physical copper market, supply conditions are the tightest in years and may come under even more pressure as smelters in top consumer China face shrinking profit margins for processing raw ore into refined metal. Copper treatment charges, an indicator of refining margins, are at $45.50 a ton, the lowest since 2012. One leading supplier is considering cutting output, in a potential blow to buyers. Surging prices are a boost for miners, drivingup stock prices La Banque africaine de développement présentera les « Perspectives économiques en Afrique 2021 » en mode virtuel le vendredi 12 mars 2021. Le rapport, intitulé « De la résolution de la dette à la croissance  : une feuille de route pour l’Afrique », aborde des questions d’actualité comme le règlement de la dette africaine, la gouvernance et la croissance économique en Afrique. Il examine également les performances et les perspectives de croissance en Afrique et présente les conséquences socio-économiques de la pandémie de Covid-19 sur les pays du continent. En 2021, l’Afrique devrait se relever de la pire récession économique enregistrée en un demi-siècle. Malgré cette prévision optimiste, l’Afrique, confrontée à la pandémie de Covid-19, aura encore d’importants défis à relever pour garantir une croissance et une Record Run Copper soars through $9,000 on path to eleventh monthly gain LME copper (R1) Monthly gainiloss (Li) 2012 2013 2014 2015 2016 2017 2018 2019 2020 Source  : LME and raising the prospect of more blockbuster returns to shareholders. Jiangxi Copper Co., China’s top producer, gained as much as 20% in Hong Kong to the highest level since 2012, while U.S. producer Freeport-McMoRan Inc. closed at the highest since 2014 on Friday. Inflation Threat prospérité durables. Parmi les conséquences majeures de la crise sanitaire figure la hausse des besoins d’emprunt des gouvernements africains pour couvrir les dépenses induites par la pandémie. Le président de la Banque africaine de développement, Dr Akinwumi A. Adesina, le professeur Joseph Stiglitz, prix Nobel d’économie, les gouverneurs de la Banque, des ministres et des représentants du corps diplomatique ainsi que des chercheurs et experts de divers horizons assisteront à la cérémonie de lancement de la publication phare de la Banque. À l’issue de cette présentation, de hauts responsables politiques, des spécialistes des dettes souveraines et des professionnels du secteur privé débattront du contenu du With inflation expectations already increasing around the world, the sharp rally in commodities including copper could soon start filtering into the price of end-use goods, raising costs for governments with big infrastructure spending plans. The risk of faster inflation has prompted a selloff in bonds globally, with the benchmark 10-year U.S Treasury yield jumping to the highest in about a year on Monday. The gap between 5-year and 30-year yields reached the widest since October 2014, moving past yet another historic level on signs of strength in the reflation trade. Wilting real returns in the bond markets could drive further inflows into copper, creating an inflation feedback loop and intensifying the clamor for hard assets as prices rise. There are already signs of emerging tightness on the London Metal Exchange, as spot contracts trade at a premium to futures. That pattern, known as backwardation, was a feature of the market during a record-breaking boom in Chinese rapport. Ils se pencheront sur la façon dont les pays africains devront agir pour mieux >9000 >8000 -7000 -6000 -5000 African Economic Outiook 5 tiol 2 sJellop s'n demand last year, and suggests that spot demand is once again outpacing supply as exchange inventories run low. Copper for delivery in three months rose 2.1% to settle at $9 097 a ton in London after touching $9 269.50, the highest since 2011. The metal is on pace for an unprecedented 11th straight monthly gain. The current price record of $10 190 was reached in February 2011. [Source  : Bloomberg – 22.02.2021] Les « Perspectives économiques en Afrique » lancé virtuellement le 12 mars se reconstruire après la crise et gérer les problèmes de la dette.

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