MANCHESTER: British Prime Minister Boris Johnson on Saturday said Brexit was a “massive economic opportunity” but had been treated under his predecessor Theresa May as “an impending adverse weather event.”
In a speech in Manchester where he pledged new investment in Leave-voting areas, Johnson promised to step up negotiations on post-Brexit trade deals and set up free ports to boost the economy.
“When people voted to leave the European Union, they were not just voting against Brussels, they were voting against London too,” he said.
Johnson promises to give more powers to local communities, as well as boost broadband and transport infrastructure in a speech focused on domestic issues.
“Taking back control doesn’t just apply to Westminster regaining sovereignty from the EU, it means our cities and counties and towns becoming more self governing,” he said.
“Leaving the EU is a massive economic opportunity to do things we’ve not been allowed to do for decades,” he said.
Asked about the prospect of Brexit negotiations, Johnson said he was willing to engage with EU partners but only if the backstop clause was removed from the current divorce agreement struck by May.
The backstop seeks to ensure a free-flowing post-Brexit border between British Northern Ireland and the Republic of Ireland, an EU member state, in all eventualities.
“The approach of the UK government is not going to be disengaged or aloof or waiting for them to come to us, we are going to try to solve this problem,” he said.
“We can’t do it as long as that anti-democratic backstop, that backstop that seeks to divide our country, divide the UK, remains in place. We need to get it out and then we can make progress.”
Brexit is a ‘massive economic opportunity’: PM Johnson
Brexit is a ‘massive economic opportunity’: PM Johnson
- Johnson promised to step up negotiations on post-Brexit trade deals and set up free ports to boost the economy
- Johnson promises to give more powers to local communities, as well as boost broadband and transport infrastructure
Closing Bell: Saudi main index closes in red; Nomu gains
RIYADH: Saudi Arabia’s Tadawul All Share Index continued its downward trend on Tuesday, as it shed 34.44 points or 0.33 percent to close at 10,290.76.
The total trading turnover of the benchmark index stood at SR3.57 billion ($950 million), with 80 of the listed stocks advancing and 178 declining.
The Kingdom’s parallel market Nomu advanced by 0.43 percent or 100.66 points to close at 23,327.60.
The MSCI Tadawul Index, however, declined by 0.19 percent to 1,368.49.
The best-performing stock on the main market was Almasane Alkobra Mining Co., as its share price increased by 7.83 percent to SR95.
The share price of Electrical Industries Co. advanced by 6.17 percent to SR11.18.
Saudi Arabian Mining Co., known as Maaden, also saw its stock price climb by 5.74 percent to SR64.50.
Conversely, the share price of Shatirah House Restaurant Co. declined by 8.14 percent to SR8.13.
On the announcements front, Saudi Telecom Co. said that it plans to issue a dollar-denominated international sukuk under its $5 billion International Trust Certificate Issuance program.
According to a Tadawul statement, the issuance program was set up on Jan. 6, following a board approval obtained on Sept. 30.
Stc added that the issuance will be conducted through an offshore special purpose vehicle established outside Saudi Arabia, adding that the proceeds will be used for the company’s general corporate purposes.
The statement further said that the sukuk may be issued in one or more tranches or series by way of an offer to eligible investors in the Kingdom and internationally.
The telecom giant added that the amount and terms of the offer of the sukuk will be determined based on market conditions.
The share price of stc edged down by 1.08 percent to SR42.06.
