It is possible to have good rail services without liberalisation.
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It is clearly possible to do liberalisation the wrong way.
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Hardly sign of a deeply felt belief in trade liberalisation.
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India's protectionism has long been an obstacle to trade liberalisation.
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Social liberalisation is being pursued by illiberal means, and incoherently.
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They dismiss almost any criticism of trade liberalisation as "protectionism".
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The financial crisis could not have occurred without this liberalisation.
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The liberalisation of the EGP has attracted renewed portfolio inflows.
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The immediate gripe is a modest liberalisation of labour laws.
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There are risks associated with the liberalisation of capital flows.
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Brexiteers point to a long, glorious history of unilateral trade liberalisation.
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Liberalisation in some markets is adding to the already intense competition.
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But there are other reasons why trade liberalisation is getting harder.
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Jeopardising the proven benefits of liberalisation in this way seems irrational.
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A government vow to avoid "indiscriminate" liberalisation did not reassure them.
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Over-regulation risks losing some of the main benefits of liberalisation.
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Each member has a veto over any further multilateral trade liberalisation.
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They tot up a maximum of seven key features of a trade deal, including whether it contains tariff cuts; services liberalisation; investment rules; recognition of standards; liberalisation of public procurement; rules on competition; and intellectual-property rights.
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Since the 1980s, liberalisation and globalisation have allowed inequality to rise again.
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Instead, he promoted economic change: liberalisation, privatisation, cutting subsidies and building infrastructure.
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There has been timid liberalisation of strict abortion laws in some countries.
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On the other, it is threatened by the ructions that liberalisation creates.
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Downward pressure on sugar prices is expected in Europe after market liberalisation.
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Since Mexico's energy liberalisation, NAFTA's provisions have helped provide certainty to foreign investors.
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Capital controls remain in place, pending the completion of the government's liberalisation strategy.
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Cuba's leaders appear comfortable with social liberalisation, because it does not threaten their power.
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The economic liberalisation of the early 2462s introduced competition in many consumer-facing industries.
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The 1980s ushered in efficient Japanese-led joint ventures, boosted from 0003 by liberalisation.
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Financial liberalisation freed capital to roam the world in search of risk and reward.
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In the 1950s and 1960s Americans associated liberalisation with rapid, broad-based economic growth.
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Mr Xi has increased control over the political system, but economic liberalisation has stalled.
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Foreign businesses have long complained that liberalisation has been too narrow and implementation spotty.
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Fitch assumes that the government's implementation strategy for capital controls liberalisation continues as planned.
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Progress with currency liberalisation in Uzbekistan has been slow, and due to the significant size of these cash balances (USD372 million at end-3Q17), VEON's subsidiary Unitel has not yet been able to take advantage of the liberalisation of the currency exchange rules.
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The finding on teenaged use will put wind into the sails of advocates for liberalisation.
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A spate of radical liberalisation in the 1980s put the economy on a sounder footing.
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But they have arguably done more to promote interest-rate liberalisation than any regulatory edict.
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And whatever the benefits of capital-account liberalisation, it would bring a measure of unpredictability.
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Part policy, part accident, a period of cultural liberalisation, the so-called Prague Spring, followed.
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But it would mean an American retreat from its leadership role in global trade liberalisation.
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Canadian companies are eager to take advantage of Mr Peña's liberalisation of Mexico's energy market.
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If visa liberalisation does go ahead, Europe could lose much of its leverage over Turkey.
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The recent liberalisation of Panda bonds reinforced the appeal of onshore financing for Chinese developers.
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Appelbaum gets back on track by recounting another massive free-market policy error: financial liberalisation.
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It may be true that licensing medical marijuana tends to lead to a broader liberalisation.
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We discuss the global cannabis revolution, as medical use opens the way to wider liberalisation.
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Too many things tend to happen at once to isolate cause and effect: liberalised trade might boost growth, or liberalisation might be the sort of thing that governments do when growth is rising, or both liberalisation and growth might follow from some third factor.
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Social liberalisation is part of the crown prince's ambition to wean the economy away from oil.
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France has already endured three months of strikes, as railway workers protest against a planned liberalisation.
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Between 1996 and 2016, rail passenger-kilometres grew fastest in European countries with the most liberalisation.
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Mr Lukashenko's baby steps towards visa liberalisation, in fact, do not come out of the blue.
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And those betting that NAFEX heralds a swift and full-fledged naira liberalisation may be disappointed.
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Financial liberalisation poured money into the south-east but left the rest of the country bereft.
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But there is also reason to fear that preferential deals weaken the impetus towards comprehensive liberalisation.
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Analysts say the president is likely to focus on pushing economic reform rather than social liberalisation.
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After years of preparation, Morocco is undergoing a gradual liberalisation to make the economy more resilient.
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Hundreds of small operators ply the roads—the fruits of a radical liberalisation in the 1990s.
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HEP rejected the accusations, saying that it was favouring liberalisation of the market and fair competition.
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The hope must be that, as Cuba becomes more prosperous and connected, political liberalisation will follow.
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Turkey will struggle mightily to meet the exacting conditions required for visa liberalisation by the summer.
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Insipid economic growth and moribund trade liberalisation play their part; so too do shifts in manufacturing.
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Trade liberalisation, in this example, depresses wages by more than prices, hurting labour in real terms.
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The study suggests that presidents (and presidential candidates) have to be brave to endorse trade liberalisation.
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For some, who never trusted the EU's great project of liberalisation, that is no great loss.
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It's been three decades of trade and political liberalisation and a golden age for financial globalisation.
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Hardliners, entrenched in institutions Khamenei controls such as the judiciary, are determined to prevent domestic liberalisation.
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Fitch assumes that the government's strategy for capital controls liberalisation will be implemented broadly as planned.
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After trade liberalisation led to tighter integration of the North American car market, cars became Oshawa's lifeblood.
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Nor does liberalisation in rail lead to corner-cutting on safety, as many trade unionists have argued.
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He offered his subjects a deal: accept my rule in exchange for social liberalisation and economic modernisation.
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This partial liberalisation is popular: 98 out of 127 senators backed it, with just seven votes against.
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Nothing is likely to reverse the trend towards liberalisation, which reflects a secular shift in American attitudes.
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Argentina's president, Mauricio Macri, who is personally against liberalisation, says legislators should vote according to their consciences.
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The new leaders may slow the pace of economic liberalisation, but they are unlikely to reverse it.
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Foreign businesses have long complained that liberalisation has been too narrow and on-the-ground implementation spotty.
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Mr Mankiw claims the tariffs were part of a calculated political strategy to push for trade liberalisation.
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In fact, it is hard to see how Turkey could meet the political conditions for visa liberalisation.
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Many then saw Iran heading for detente with the West, economic reform, social liberalisation and political pluralism.
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Ukraine was promised visa liberalisation if it met a number of conditions, including steps to tackle corruption.
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India has embarked on liberalisation of its coal industry, promising to open up mining to private companies.
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Zhu said the time is right for China to step up the liberalisation of its financial sector.
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Governments unsettled by visions of economic mortality could discover a renewed zeal for reform, investment and liberalisation.
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The economic liberalisation of the 1980s and 1990s transformed the delta into China's leading manufacturing and export hub.
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True, it is difficult to prove from past episodes of drug liberalisation that such consequences would indeed occur.
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His signature economic reform, a labour-market liberalisation called "Agenda 2010", was conceived in co-operation with businesses.
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It could allow the PBOC to claw back influence over loan prices, in spite of earlier liberalisation efforts.
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When deals are first struck, negotiators bargain so that the benefits of trade liberalisation outweigh the political penalties.
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That was how telecoms and energy liberalisation kicked off, and how EU policy on mergers came to be.
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But while its stockmarket is almost as large as Hong Kong's, economic liberalisation has stalled on the mainland.
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Today's established policy paradigm has its origin in the early post-war period, when politics strongly favoured liberalisation.
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Analysts worry that the pace of liberalisation could soften, but few expect the direction of reform to reverse.
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Should the TPP be ratified, this would provide a key policy anchor for continued structural reforms and liberalisation.
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Furthermore, visa-liberalisation has been offered at a time of intense debate about the EU's free-movement policy.
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Resistance is also building to liberalisation of the electricity market, a long process that began on April 1st.
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Since the economic liberalisation of the 1980s, Istanbul has been the site of almost-constant redevelopment and construction.
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The biggest beneficiaries from the liberalisation of the global economy from 1980 onwards have been large multinational companies.
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The difficulty is that this goal clashes with another dear to the pontiff's heart: that of doctrinal liberalisation.
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The expected gradual liberalisation of the exchange rate would also support the country's ability to adjust to external shocks.
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Libya and Egypt both enjoyed brief moments of liberalisation after revolutions toppled their dictators, Muammar Qaddafi and Hosni Mubarak.
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Diversification and liberalisation are directed from the royal palace; even simple entertainment requires central planning and a "giga-project".
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During 30 years of growing democracy and economic liberalisation, they were told that Mexico would become a rich country.
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Fixing the currency system is a "precondition for further liberalisation", says Emily Morris, an economist at University College London.
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The WTO has not achieved a big breakthrough in its mission of trade liberalisation for more than two decades.
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One benefit of the policy is that once suitably insured, workers might be less inclined to oppose economic liberalisation.
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Fitch assumes that the government's implementation strategy for capital controls liberalisation on domestic households and firms continues as planned.
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After a series of mini-steps towards liberalisation, China has a semi-fixed currency and semi-porous capital controls.
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Of late, the government has tucked into liberalisation as if it were an appetising feijoada (bean-and-meat stew).
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When liberalisation was at its apex in 2003, energy bills were at levels that were the envy of Europe.
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Nordzucker is planning international expansion as it positions itself to deal with the challenges of EU sugar market liberalisation.
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However, Orban said energy market liberalisation would take place gradually over a transition period of six to nine months.
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They thought he was the leader to rekindle the short-lived enthusiasm for liberalisation of 1991, when India faced bankruptcy.
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Greater liberalisation is also associated with rising passenger numbers and an ability to get by on lower subsidies (see chart).
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Mr Peña's weakness threatens to discredit vital reforms he enacted early in his tenure, including liberalisation of energy and telecoms.
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En+'s performance was supported by an accelerated schedule for power capacity liberalisation and increased hydro power generation in Siberia.
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That put an end to the long-held Western hope that economic liberalisation would gradually transform China into a democracy.
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Nguyen Tan Dung was seen as a proponent of economic liberalisation and reform as a member of the key Politburo.
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This forms part of a liberalisation programme to reverse populist policies of the outgoing government of Cristina Fernández de Kirchner.
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So, encouragingly, are the unions—which have reversed their position since ATC liberalisation was first mooted back in the 22015s.
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And then there are Britain's myriad service-providers that have sprung up over decades of public-sector liberalisation and outsourcing.
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But visa liberalisation has not materialised yet as the EU wants to put an emergency suspension mechanism in place first.
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The sporadic liberalisation of investment rules has helped to attract record amounts of foreign cash, albeit from an abysmally low level.
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Asian economies are now discussing a regional trade deal called the Regional Comprehensive Economic Partnership ("RCEP") to achieve greater trade liberalisation.
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The Moderates and their partners favour rent-control liberalisation and incentives for private development that guarantees some apartments for the poor.
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A marginal liberalisation of the Canadian dairy industry is welcome but is not worth higher costs and lower productivity in carmaking.
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The communications regulator, formed after parliament passed a law covering the liberalisation of the sector, will hold a meeting on Nov.
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It is hoped the latest liberalisation will cool the economy a little, says Jon Danielsson of the London School of Economics.
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The election was seen as a defeat for liberalisation and globalisation, and hence for an economics profession that had championed them.
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In the 20th century, America cracked down on migration, which fell sharply until a liberalisation of the rules in the 1960s.
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Nordzucker is planning international expansion as it positions itself to deal with the challenges of EU sugar market liberalisation this autumn.
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Economists have warned such moves could spark a trade war and roll back decades of liberalisation, which has buoyed international shipping.
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Indeed, across the Irish Sea pressure to support liberalisation in Northern Ireland has been building within the major Westminster-based parties.
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But in France fitful stabs at liberalisation that began in the mid-1990s were defeated or watered down by the left.
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As a mammoth construction project rather than an experiment in policy liberalisation, this bureaucratic backwater won't do anything of the sort.
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The liberalisation of the dirham is likely to have a limited impact on macroeconomic stability in the short and medium term.
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Dubai-based Emirates said the aim should be balanced and non-discriminatory regulation serving as a catalyst for increased European liberalisation.
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However, Fitch does not believe the authorities will pursue significant capital account liberalisation if it poses risks to domestic financial stability.
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"Mr Rohani believes in economic liberalisation, but it doesn't percolate down the pyramid," says a member of Iran's chamber of commerce.
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At the moment, however, it is hard to justify anti-dumping tariffs as a calculated sop to the opponents of liberalisation.
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The EU leads the world in trade liberalisation and technology regulation and its incoming executive calls itself the first "geopolitical" commission.
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The Philippines has taken the biggest steps toward banking-sector liberalisation, removing the cap on foreign ownership of banks in 2014.
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"We have already increased our exports in the past two years and will do so further after market liberalisation," Fuchs said.
|
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Fans of services liberalisation originally estimated that it would result in EU GDP being boosted by 0.8-1.8% over a decade.
|
|
Below is a rundown of India's telecoms sector, once the poster child of the country's liberalisation push, and its current woes.
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Rather than seize an opportunity to use cheap imports to keep prices down, Congress has tarried for months over a planned liberalisation.
|
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Yet there is a wealth of historical data in America, which has been tinkering with various forms of liberalisation since the 2.53s.
|
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"As in November, there is unrest in the labour market and uncertainty about the impact of upcoming steps towards capital account liberalisation".
|
|
Company executives who met with government officials this week were told to expect an announcement on the liberalisation plan, possibly next week.
|
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The upper house approved a government amendment pushing back full liberalisation of the energy retail market by one year to July 210.
|
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Liberalisation has undercut producers in those sectors most vulnerable to foreign competition, who are also the constituency most in favour of protectionism.
|
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There is a contradiction between liberalisation and party control, between giving markets their say and silencing them when their message is unwelcome.
|
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Miklos said Ukraine remained committed to reforms and to the IMF programme, demonstrating this through this year's one-step energy tarriff liberalisation.
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|
Though it pointed in the right direction—towards greater liberalisation and away from the planned economy—it was worryingly light on detail.
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Indonesia is pursuing bilateral ABIF deals, but it also serves as an illustration that ASEAN might not always move toward financial liberalisation.
|
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Prime Minister Abiy Ahmed is shaking up several sectors in a liberalisation drive aimed at transforming Ethiopia into a middle-income country.
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During his election campaign in 2017 Emmanuel Macron said he favoured liberalisation, denouncing the existing rules as a form of "intolerable discrimination".
|
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The liberalisation of European aviation, which allowed EU carriers to fly between any airport within the bloc, opened the skies to the masses.
|
|
Glencore in a statement on Thursday said the joint venture will be developed in line with the liberalisation of retail prices in Mexico.
|
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This was usually thought to have been driven as much by a liberalisation of attitudes as much as of borders and air travel.
|
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The brief bout of liberalisation in 1991 probably played a part initially, by unevenly distributing the spoils of more rapid overall economic growth.
|
|
Decades of statist intervention meant that when a measure of liberalisation came in the early 1990s, only a few were able to benefit.
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He has also pointed out that rail liberalisation is obligatory under European Union rules, with France behind other member states in meeting requirements.
|
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Mr Xi is promising a new burst of "reform", although admittedly he does not always use that term to mean more market liberalisation.
|
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A former communist era monopoly, Orange Polska has seen its earnings and market share squeezed by continued market liberalisation and the resulting competition.
|
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Mr Obama argues that such interchange will do more to hasten the liberalisation of Cuba's repressive socialist regime than continuing to isolate it.
|
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This has led to a cycle of liberalisation, growing political participation and eventually elite-backed military coups to claw back power from politicians.
|
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First, the economic adjustment brought cutbacks in public-sector jobs and services; and second, part-liberalisation appeared to favour only the well-connected.
|
|
Joseph Stiglitz, a Nobel prizewinner, has warned that rent-seeking companies' influence over trade rules harms workers and erodes support for trade liberalisation.
|
|
President Joko Widodo eased the so-called negative investment list last year in what he called a "Big Bang" liberalisation of the economy.
|
|
EU market liberalisation means European producers are no longer protected from world price falls and several European sugar refiners have announced capacity cuts.
|
|
Despite the liberalisation of the "Licence Raj" in the early 1990s the country has never quite let go of its deeply ingrained interventionism.
|
|
The moves mark Europe's increased insistence that trading partnerships go beyond liberalisation and be coupled with commitments to environmental, labour and social standards.
|
|
In private, some Chinese government officials argue that there has been slow but steady progress, on everything from interest rate liberalisation to grain procurement.
|
|
Second, to say that the policy experiment went terribly wrong is to write off a lot of the benefits that liberalisation with China generated.
|
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A timid economic liberalisation has created a small entrepreneurial class and attracted foreigners with money to spend on private displays of pranks and pratfalls.
|
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Late last year, Latvijas Gaze split off a natural gas transmission and storage operator, Conexus Baltic Grid, ahead of the market liberalisation in April.
|
|
Further trade liberalisation is also crucial to bolster productivity and global growth, while taking steps to ensure the gains from trade are shared widely.
|
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He has reshuffled the cabinet during his first year in power and implemented some economic reforms such as the liberalisation of foreign exchange regulations.
|
|
The statement came a day after Central Bank Governor Abdellatif Jouahri told Reuters the liberalisation would start in the second quarter of the year.
|
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Will they act as stepping stones towards broad trade liberalisation—or, on the contrary, distort trade and divide the world into competing trade regions?
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|
Unilateral trade liberalisation is beneficial even if other countries do not reciprocate by cutting their own tariffs, as David Ricardo demonstrated 200 years ago.
|
|
The settlement was facilitated by a liberalisation of trade under their Comprehensive Economic and Free Trade Agreement (CETA) which came into force on Sept.
|
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A more cautious approach to capital-account liberalisation may delay efforts to internationalise the currency, but could enhance macro-stability and preserve external buffers.
|
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Cuba's modest economic liberalisation and the unfreezing of relations with the United States since December 2014 have provided some with the wherewithal to leave.
|
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And it tumbled against the dollar in the non-deliverable forward markets on Thursday, as uncertainty continued over a potential liberalisation of the naira.
|
|
Political parties worked within relatively narrow parameters, and pro-business policies, such as the liberalisation of trade and of rules on immigration, rolled forward.
|
|
Western politicians once confidently predicted that growing Chinese prosperity and the emergence of a middle class would trigger calls for political liberalisation in China.
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"We have to go ahead with the liberalisation of the economy, we have no other choice (if we are to) reduce poverty," he said.
|
|
The internationalisation of the Chinese renminbi and liberalisation of its capital account have significant implications for the global financial system, Lowe said in Sydney.
|
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But government policy is partly shaped by the bloc's rules, be they on railway liberalisation or the budget ones policed by the European Commission.
|
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A grand bargain of policies serving up tax reform, services liberalisation and a more robust euro would run into plenty of national red lines.
|
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Europes sugar producers are suffering from the double blow of low sugar prices and EU market liberalisation which exposed them to depressed world markets.
|
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France's CGT trade union has called energy sector workers to join rail unions in a rolling nationwide strike against President Emmanuel Macron's planned liberalisation reforms.
|
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The bank has a tainted reputation from that era, when it was seen as pushing a "Washington consensus" agenda of liberalisation that harmed Latin America.
|
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Risks associated with the potential acceleration in capital flows cannot be discounted, but we think these have eased as the liberalisation strategy has been implemented.
|
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In return EU member states will accept one Syrian refugee from Turkey for every one sent back, and speed up visa liberalisation for Turkish nationals.
|
|
Some economists suggest that they could actually provide a boost to globalisation, by making trade liberalisation seem more palatable to those whose livelihoods it threatens.
|
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Traditionally conceived, visa liberalisation is the sort of policy that might be designed by a foreign minister steeped in Joseph Nye's theory of soft power.
|
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The central bank's monetary policy in the coming term will depend on economic developments and the success of the capital account liberalisation process, it said.
|
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"We will actively push ahead to open up capital markets and will steadily make every step work towards liberalisation," the CSRC said in its statement.
|
|
Further moves toward financial liberalisation in ASEAN will depend on the pressures facing each system, and will be sensitive to changes in the political climate.
|
|
Vice finance minister Zhu Guangyao said on Friday the time was right for world's second biggest economy to step up liberalisation of its financial sector.
|
|
The timetable would not be under its control, and the slow, grinding history of trade liberalisation shows that mercantilists tend to have the upper hand.
|
|
Capital controls remain in place but the process leading to their liberalisation will bring about a sizeable, one-off improvement in fiscal balances in 2016.
|
|
A rigorous standards committee may grant CSRC bureaucrats even more latitude in the short-run, but it is a necessary first step toward more liberalisation.
|
|
In this spirit China's ambitions to make the yuan an international currency should, in general, be welcomed—they will only serve to hasten its economic liberalisation.
|
|
Rates among young women have fallen faster than among any other group since 8413; Mr Patel believes they will continue to improve as social liberalisation continues.
|
|
That is partly because of the proliferation of pokies: after decades of liberalisation, the country is peppered with some 197,000 machines—one for every 114 people.
|
|
Perhaps most important is a third lesson: that the boost to growth provided by tax cuts and liberalisation need not be spread evenly across the economy.
|
|
In Mexico, rioting sparked by the government's withdrawal of petrol subsidies as part of its liberalisation of the energy industry left at least six people dead.
|
|
The move runs against a trend of a slow liberalisation of Sunday shop hours throughout Europe, where retailers face pressure from a boom in online shopping.
|
|
The lineaments of Mr Kim's rule appear consistent: purges and repression at the highest level, economic liberalisation at the grassroots and the pursuit of nuclear weapons.
|
|
ADDIS ABABA, June 7 (Reuters) - Ethiopia's parliament will on Monday approve a law covering the liberalisation of the state-controlled telecoms sector, a parliament spokesman said.
|
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The risk is that snagging a handful of high-profile tech listings from Hong Kong and New York will come at the expense of genuine liberalisation.
|
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He told reporters it was too early to talk about a further liberalisation of the dirham after Morocco began a more flexible exchange rate in January.
|
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Indeed, the failure of TPP and TTIP could provide an opportunity for the WTO to re-emerge as the main forum for the trade-liberalisation agenda.
|
|
And for all his boldness in economic matters, he remains obtuse when it comes to political liberalisation that might help secure consent for the economic revolution.
|
|
If Mr Groysman and Mr Omelyan are to wrest power from the oligarchs, they need to sell the benefits of liberalisation to Ukraine's citizens and policymakers.
|
|
The first is the liberalisation of aviation regulations, notably in the form of the European Common Aviation Area (ECAA) and the EU-US Open Skies treaty.
|
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Hardline fundamentalists, still entrenched in institutions Khamenei controls such as the judiciary, are keen to prevent either the new opening to the world or domestic liberalisation.
|
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Iceland's improved external resilience increases Fitch's confidence that capital controls liberalisation will not lead to excessive pressure on the exchange rate and the balance of payments.
|
|
In March (then) Prime Minister Davutoğlu pressed Merkel to accept a deal which included six billion euros in aid and visa liberalisation for 80 million Turks.
|
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ZURICH, Oct 17 (Reuters) - The Swiss government proposed on Wednesday complete liberalisation of the electricity market as it moves to decentralise production and promote renewable energy.
|
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The MAS, which had flagged the liberalisation of the sector in June, said on Thursday that it would accept applications until the end of the year.
|
|
Europe's sugar producers are still suffering from the double blow of low sugar prices and EU market liberalisation that has exposed them to depressed world markets.
|
|
"Given higher competition in the face of the liberalisation of Japan's retail electricity power market, buyers' evaluations and negotiations have become more strict," the source said.
|
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A decade ago Mr Assad toyed with infitah (liberalisation), only for Sunni extremists to build huge mosques from which to spout their hate-speech, say his advisers.
|
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Europe's sugar producers continue to suffer from the double blow of low sugar prices and European Union market liberalisation that has exposed them to depressed world markets.
|
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G20 economies have put up 1,400 new trade restrictions over the last decade against only 200 liberalisation measures during the same period, according to an OECD tally.
|
|
There is no mistaking the excitement that has gripped the country since April, when Abiy took office and embarked on the most radical liberalisation in Ethiopia's history.
|
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Indeed, the earlier draft promised small businesses protection from "the liberalisation of working hours, the rapid expansion of large retailers" and the EU's directive on deregulating services.
|
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The model also finds that unilateral British trade liberalisation, a policy favoured by many Brexiteers, may mitigate losses under the WTO option by only 0.2% of GDP.
|
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Critics of such liberalisation point to a decline in labour income as a share of GDP as evidence that wage earners have the odds stacked against them.
|
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His often diffident leadership style has caused needless confusion; economic liberalisation has been slow; and he has shown less appetite than expected for taking on vested interests.
|
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Hence Hillary Clinton's proposals on paid parental leave go unexamined (see article) and the case for trade liberalisation is drowned out by "common sense" demands for protection.
|
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Alas, in the 1990s the party rolled back almost all of those rural reforms and related financial liberalisation, and opted instead for stronger control over the economy.
|
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He also said BNM will introduce "liberalisation" moves from time to time to develop the foreign exchange and bond markets, and enable businesses to manage currency exposure.
|
|
EU officials publicly say Ukraine and fellow aspirant Georgia have qualified for visa liberalisation, but behind the scenes Germany, France, Belgium and Italy appear to be stalling.
|
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Many people were surprised by the extent of the currency's liberalisation after so much talk of the central bank introducing some sort of two-tiered exchange rate.
|
|
The unexplained delay may reinforce investor concerns about transparency in the currency liberalisation process after several conflicting statements about the start date in the past few months.
|
|
First, an energy reform must be completed, including the full market liberalisation of the gas sector from April followed by a market reform of the electricity market.
|
|
"For now, the only clear takeaway is that there are no imminent plans for further FX liberalisation," said Razia Khan, chief economist Africa at Standard Chartered Bank.
|
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In the 1990s Britain was the country driving forward airline liberalisation in Europe, against the instincts of France and Italy, which preferred to protect their own flag carriers.
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The authorities have continued to prioritize a structural reform agenda with a focus on market liberalisation, equitisation of state-owned enterprises, and enhancements to the broader business climate.
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The central bank gave no reason for the delay, but last week Prime Minister Saad Eddine El Othmani said the government needed "further studies" of the liberalisation plan.
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The economic crisis has eroded living standards and driven up the level of unemployment, which economists blame on the slow pace of economic liberalisation reforms and poor investment.
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If Turkey meets the EU's conditions for visa liberalisation, which one Eurocrat says is "eminently" achievable, countries like France and Austria should not block it out of spite.
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On the left, social-media users associate him with unpopular policies during Mr Hollande's term, such as liberalisation reforms that undermined the economic security of ordinary French voters.
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Without shared positions on issues such as privatisation, liberalisation and fiscal policy, a cross-party coalition could find it hard to agree on the economic reforms Italy needs.
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"The new digital bank licences mark the next chapter in Singapore's banking liberalisation journey," said Tharman Shanmugaratnam, senior minister and chairman of the Monetary Authority of Singapore (MAS).
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Similarly, liberalisation nurtured the growth of international supply chains, which increased cross-border interdependence and reduced political support for tariffs among firms that are both importers and exporters.
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"The new digital bank licences mark the next chapter in Singapore's banking liberalisation journey," said Tharman Shanmugaratnam, senior minister and chairman of the Monetary Authority of Singapore (MAS).
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A structural reform-oriented policy trajectory including a focus on macro stability and market liberalisation was a key factor supporting Vietnam's upgrade to 'BB-/Stable' in late 2014.
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"The new digital bank licences mark the next chapter in Singapore's banking liberalisation journey," said Tharman Shanmugaratnam , senior minister and chairman of the Monetary Authority of Singapore (MAS).
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Optimists argue that the strong conditions attached to the promise of visa liberalisation will bring Turkey back into the European fold and help stem its descent into authoritarianism.
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"The likelihood of increased macroeconomic imbalances and the uncertainty associated with capital account liberalisation argue for caution in interest rate setting," the central bank said in a statement.
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The CGT opposes the principle of liberalisation and a pact under which all European Union governments have committed to start phasing out all passenger rail monopolies from 2020.
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A year ago Mr Macron, then economy minister, tried to trim regulations protecting the profession as part of a broader liberalisation designed to help newcomers set up businesses.
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LONDON, June 9 (Reuters) - Nigeria's naira tumbled against the dollar in the non-deliverable forward markets on Thursday, as uncertainty continued over a potential liberalisation of the currency.
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The stakes are high for Pena Nieto and his ruling party, which is keen to showcase the results of the liberalisation ahead of a presidential election in July.
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Some economists used to seethe when members of the guild acknowledged that trade liberalisation could yield costs as well as benefits—though economic models had always allowed for this.
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That might not have been available, were it not for the "financialisation" of housing—the liberalisation of mortgage lending, sometimes funded by foreign capital, in the 20003s and 1990s.
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The government has said British energy prices are a "rip-off" after it emerged household bills have doubled over the last decade, despite a series of market liberalisation reforms.
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"The interesting thing about this moment is that you see, in effect, social liberalisation but not for ideological reasons but for purely economic, fiscal and budgetary reasons," he said.
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It is making a fresh effort to conclude long-stalled talks with the EU; an agreement would provide a "road map and a corset" for liberalisation, says Ms Malcorra.
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At the time, it was not thought that poor countries would gain much from the rich world's liberalisation and were not required (or prepared) to offer much in return.
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Increased competition meant more routes and cheaper fares, which enabled the industry to grow from 2500m seat-kilometres in 2012, the year before liberalisation, to over 220m by 2015.
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Ukrainians enjoy the freedom, boosted by a visa liberalisation in 2017, to travel to the EU and hundreds of thousands have exercised this right in the past five years.
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This process has been credit positive for the Icelandic sovereign, and further capital control liberalisation would improve the business environment, allowing Icelandic households and businesses to diversify their investments.
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TenneT said the German-Danish border suffered from transmission bottlenecks, adding that transmission capacities were stretched to the limit because of market liberalisation and the transition to renewable energy.
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Reform of "product markets" aims to boost competition among firms, through privatisation, deregulation, the liberalisation of trade and by making it easier to start a business or attract investment.
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Right now, Mr Sisi is leading the country to disaster, which would be felt across the Arab world and beyond; by contrast, successful liberalisation would lift the whole region.
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Another government policy adviser said the direction of China's capital account liberalisation reforms was unlikely to change, however, since they were key to greater global acceptance of its currency.
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Malaysia and Indonesia have signed an ABIF agreement and others are being negotiated, but the bigger moves toward regional financial liberalisation well be happening outside of the ABIF framework.
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The tendency of MBS, as the prince is known, to micromanage the listing runs counter to the spirit of openness and liberalisation that he says he wants for Saudi Arabia.
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He thinks social liberalisation "will cause debates in every family"; the anti-corruption measures were arbitrary; and despite talk of promoting the private sector, Saudi Arabia remains "a family business".
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If Ukraine does get more IMF money, the committee might raise its economic growth forecast and press on with currency liberalisation, said the minutes, published on the central bank's website.
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Liberalisation of the aviation industry in the 1980s and 1990s, with IATA losing its power over fares, has meant that most carriers now compete on price rather than service quality.
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Labour winning power would represent a major change for Britain, reversing three decades of almost uninterrupted economic liberalisation started by Conservative Margaret Thatcher and continued under more centrist Labour governments.
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GAZIANTEP, Turkey, April 23 (Reuters) - Turkish Prime Minister Ahmet Davutoglu said on Saturday Turkey's migrant readmission agreement with Europe will not be fulfilled without EU visa liberalisation for Turkish citizens.
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The EBRD welcomed the liberalisation of the currency at the time and Catarina Bjorlin Hansen, the bank's deputy head for Egypt, said interest from private sector investors had picked up.
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In Russia the fall of communism led to crony capitalism; in the Arab world partial liberalisation in the 1990s brought first cronyism, then popular resentment that eventually brought down regimes.
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In Tanzania, for instance, liberalisation of the country's once dismal socialist economy in the 1980s helped spark the spectacular growth of towns in the country's gold- and emerald-mining regions.
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The EU's Council of Ministers is developing new rules that would make it easier for Europe to suspend visa liberalisation for six months, or rescind it altogether, if circumstances change.
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The report concluded that two plausible post-Brexit outcomes would mean higher food prices, but a third option of total trade liberalisation would lead to big price (and wage) cuts.
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Ernesto Sicilia, chairman and managing director of its new British unit, says that his firm is moving into the country in order to replace contracts lost at home as liberalisation bites.
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However, Japan needs to avoid the problems that beset Germany's liberalisation, particularly a collapse in wholesale power prices due to a flood of subsidised green energy that gutted its big utilities.
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Many leaders of developing countries respect Lee Kuan Yew, its founding father, for taking his city-state from third- to first-world status while resisting Western calls for greater political liberalisation.
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But a resurgence of poaching in the past decade seems linked to a partial liberalisation in 2007, when a one-off sale of some existing ivory stocks was permitted (see chart).
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If disadvantaged groups within those broad polities are unable to form effective coalitions, however, in order to bargain for compensation against the costs of liberalisation, then trouble is bound to result.
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The one between the EU and Mercosur may have been agreed during a rare window of opportunity when the governments of Argentina and Brazil were both in favour of economic liberalisation.
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But the fear is that, having all but abandoned the aim of broad trade liberalisation, America may prioritise quick, shallow deals rather than deeper ones that would strengthen global trade governance.
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China's slowing economy and the creeping liberalisation of its capital account further entrench expectations for yuan depreciation, and will keep up pressure for policymakers to spend reserves to slow the fall.
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It is unlikely that any progress will be made on other reforms that could lift structural growth, such as liberalisation of the labour market, until after the election at the earliest.
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But even if this is the case, it's more likely that ongoing liberalisation of fuel exports will result in higher quotas and therefore encourage China's refiners to export more middle distillates.
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The real challenge lies in liberating half the population so that they too can effectively participate and contribute to the liberalisation of their country's economy and the modernisation of their society.
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The plenum communique stressed that the ruling party "does not interpret 'modernisation' to represent political liberalisation," Tom Rafferty, principal economist for China at The Economist Intelligence Unit, said in an email.
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How voters respond may depend on whether they believe they will be better off with Atiku, who as vice president from 1999 to 2007 oversaw the liberalisation of Nigeria's telecommunications industry.
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The ongoing liberalisation of pharmacy markets across Europe offers chances for further international expansion that Zur Rose said it aims to serve from its DocMorris logistics centre on the German-Dutch border.
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Peter Draper of Tutwa Consulting, a South African firm, notes that, by retaining tariffs on just 5% of products, African countries could in effect exclude most of their current imports from liberalisation.
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The most-favoured-nation principle meant that, as the WTO expanded, some new entrants could benefit from trade liberalisation without doing much tariff-cutting themselves—what trade economists call the latecomer's advantage.
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It was the liberalisation of Europe's skies two decades ago that allowed airlines to fly unrestricted between countries and which helped low-cost airlines such as Ryanair and easyJet to grow rapidly.
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"If the authorities take the new board's price swings in their stride, it will bode well for the long term liberalisation of China's stock markets," Thomas Gatley, analyst at Gavekal Dragonomics, wrote.
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With liberalisation would come rising incomes and global travel, reasoned Mr Ma, and soon hundreds of millions of Chinese would clamour for the goods and services enjoyed by the comfortable classes elsewhere.
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"The PBOC is displaying their confidence in having reverted depreciation expectations, stabilizing interbank leverage while maintaining healthy macro conditions onshore," Morgan Stanley said, adding it remained "constructive" on Beijing's financial liberalisation reforms.
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Scope for Growth: The gradual liberalisation of gaming markets, governments' keenness on finding ways to raise tax proceeds and the increasing supply of new games should all provide increasing opportunities for Intralot.
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More freewheeling governments, including those of the Netherlands and the Nordic states, would like the EU to focus on growth-promoting liberalisation of markets such as those for digital and other services.
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Although market liberalisation for residential customers is a work in progress, Axpo's owners said revamping "outdated" rules governing its ownership structure and defining a new strategy are necessary to prepare for it.
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Liberalisation of the electricity market comes more than 13 years after similar moves in Europe and U.S. markets, Takamichi Hamada, chief executive of the Tokyo Commodities Exchange (TOCOM), said in an interview.
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Mr Varadkar's stated preference for a limited liberalisation may come close to the median Irish view, but he must tread carefully on an issue that, unlike gay rights, retains the power to divide.
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During the Blair-Cameron years, when policymakers all accepted the virtues of market liberalisation and quarrelled about means rather than ends, economics had a good claim to be the queen of the sciences.
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Still, the currency liberalisation is a major step and one the kingdom wants to adopt gradually, wary of unrest, like the riots over food prices that followed IMF-backed reforms in the 1980s.
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After the Fukushima nuclear disaster, the country's power monopoly system - in place for nearly 210 years - was partially dismantled in 2016, followed by the liberalisation of the retail gas market a year later.
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Next it will look to Europe to take advantage of the EU reforms, which analysts describe as the biggest step in transport liberalisation since the bloc opened up its skies two decades ago.
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"Consumer prices during November were strongly impacted by the economic reform measures related to the foreign exchange rate market liberalisation as well as the hydrocarbon subsidies adjustment," the MPC said in a statement.
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Mr Lam says Mr Xi has no interest in political or ideological liberalisation, having "learned the lessons" of the vicissitudes experienced by party liberals such as his father, who was imprisoned by Mao.
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The problem, says Marc Pierini of Carnegie Europe, a Brussels think-tank, is that the issues of visa liberalisation, EU accession and immigration should not have been mixed up in the first place.
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They always found it more pleasant to take the case for liberalisation to Davos than to the millions of Filipinos, especially in the provinces, who have missed out on the fruits of growth.
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Looking at the initiative in a broader context, it could be the testing ground for greater liberalisation of capital accounts as mainland Chinese entities and FTZ entities can move renminbi freely between them.
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"By removing the destination clauses, the idea is to increase liquidity in the market which is going to be a key step towards market liberalisation and development of a pricing hub," he said.
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TOKYO, Sept 17 (Reuters) - Japan's first electricity futures began trading on the Tokyo Commodities Exchange on Tuesday (TOCOM), which proponents hope will boost competition in Japan's roughly $130 billion power sector after liberalisation.
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ANKARA (Reuters) - European Enlargement Commissioner Johannes Hahn said on Friday he believed a solution to a dispute with Turkey over the pace of visa liberalisation was possible and the timing up to Ankara.
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Tereos, along with rival European sugar producers such as Suedzucker and Nordzucker, has seen its results hit by a fall in European Union prices following the liberalisation of the sugar sector in 2017.
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The liberalisation of the pound's exchange rate in November 2016, which reduced the value of the local currency by half, has helped make the industry more competitive and enhanced Egypt's attractiveness as a destination.
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The improvement has been supported by successive governments' consistent policy implementation in key areas, such as capital control liberalisation (which was largely completed this year) and dealing with the estates of Iceland's collapsed banks.
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On the other, with Mr Hannan, were leading Tory MPs like Michael Gove and Boris Johnson, backed by UKIP's only MP, Douglas Carswell, who played down immigration and talked up global trade liberalisation instead.
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That would allow him to combine confrontation with the West with some degree of economic liberalisation (he has recently appointed Sergei Kiriyenko, a liberal of the late 1990s, as his deputy chief of staff).
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The core protest has coincided with sectoral issues such as difficult reorganisation negotiations to prepare the SNCF for Europe-wide liberalisation of train traffic in 2020 and, at Air France, efforts to reduce costs.
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"With this development, there is no longer any outstanding legal action against the Republic of Iceland in connection with the authorities' implementation of the capital account liberalisation strategy," the ministry said in a statement.
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Miklos confirmed the liberalisation process would be gradual but expected that dividend repatriation - a key point for foreign investors - would "certainly" be part of the next steps following the receipt of the IMF money.
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We estimate that CICC accounts for less than 1% of Central Huijin's total assets, but has a unique role in shepherding economic liberalisation, enhancing investment banking expertise and facilitating restructuring of state-owned enterprises.
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"It is especially important to enhance the multilateral system of open and free trade and investment, jointly resist protectionism, and accelerate the liberalisation of global trade and investment," he said in his IMFC speech.
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In addition to the GST and aforementioned bankruptcy law, the agenda includes liberalisation of the FDI regime, financial and agriculture sector reforms, and changes to cut red tape and improve the efficiency of administration.
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Further trade liberalisation was also "crucial" to enhance productivity and global growth, she added, saying she welcomed the G20's determination to use "all policy tools...to achieve strong, sustainable, balanced and inclusive growth".
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Singapore's biggest liberalisation of its banking sector in two decades seeks to enable online-only banks that can operate at lower costs and offer services that differ from incumbents including DBS Group and OCBC.
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The liberalisation of Myanmar's telecoms sector has been a rare example of successful reform since the military ceded power in 2011, with the entry and rapid expansion of Norwegian operator Telenor and Qatar's Ooredoo.
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Tokyo Gas and other utilities are grappling with falling demand at home as Japan ages rapidly with a declining birthrate, while the liberalisation of its energy markets has spurred competition among old-guard utilities.
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Allowing for the lags caused by admissions offices, the lengths of PhD programmes and the process of peer review, the full effects on American academia of China's liberalisation were not felt until the late 1980s.
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The small fact of the girl's joyful smile puts her in stark contrast to the grave faces captured in earlier decades—the modernisation and liberalisation of Spain seemingly evident in Santos Yubero's choice of subject.
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Goldman Sachs analysts valued the total market opportunity from U.S. liberalisation of sports betting at $36.5 billion-$60.8 billion in revenues, basing their estimates on growth trends in the more developed British and Australian markets.
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The tsar the Kremlin most admires is Alexander III, who on taking office in 22014 reversed the liberalisation overseen by his father, who was assassinated, to impose an official ideology of Orthodoxy, nationalism and autocracy.
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Americans in seven other states and Washington, DC, are now, or soon expect to be, free to puff away at leisure, but liberalisation in the most populous border state will be felt acutely down south.
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After Mao's death, when economic opening was not matched by political liberalisation, party leaders sounded a bit defensive about that choice, assuring foreigners that only a firm grip on their vast country could avoid chaos.
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As head of the insurance regulator, Xiang oversaw rapid growth of the insurance industry, along with liberalisation of investment rules that provided insurers greater latitude to invest more of their assets at home and overseas.
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"China has again promised that it wants to proceed on the path of market liberalisation and reforms," Gabriel said after talks with Wang in Bonn, where foreign ministers from the G20 top economies are meeting.
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Meanwhile, ASEAN's policy of non-interference and lack of strong central authority, as well as caution over the potential risks attached to rapid financial liberalisation, are likely to result in slow progress on the ABIF.
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Another was a liberalisation of licensing laws after the end of apartheid in 1994 that made it easier to start a distillery and for non-whites to consume the same types of alcohol as whites.
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Elsewhere, a speech marking 40 years of market liberalisation by Chinese President Xi Jinping offered no specific support measures for the second largest economy, disappointing investors who were expecting fiscal policy loosening and a tax cut.
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In 1991 the country's economic liberalisation was heralded by a midnight shipment of gold, conveyed to Bombay's airport (and thence international markets) in a heavily armoured convoy from the vaults of the Reserve Bank of India.
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In order to move toward greater liberalisation, then, one either has to ignore popular opinion in these places (abandoning the democracy leg of the trilemma), or change the locus of political decision-taking (abandoning national sovereignty).
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The move also follows Latvia's gas market liberalisation in April that will end the monopoly on supply in the country held for decades by Russian oil and gas giant Gazprom, the biggest shareholder in Latvijas Gaze.
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Nuno Limão of the University of Maryland, and others, have found that America and the EU offered less tariff liberalisation in multilateral talks in product areas where they had already granted preferential tariffs in bilateral deals.
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SYDNEY, April 27 (Reuters) - Reserve Bank of Australia Governor Philip Lowe said on Thursday that China needs to strike a balance while tightening capital outflows as it runs counter to its longer-run goal of liberalisation.
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ALMATY, Aug 14 (Reuters) - The Uzbek sum has gained about 9 percent against the dollar on the Central Asian nation's black market over the past seven days, as a full-scale exchange rate liberalisation appears imminent.
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The Central Bank of Uzbekistan devalued the som by 52% against the US dollar (to 8,100 som per US dollar from 4,210 previously) on Monday as part of the liberalisation of the country's foreign-exchange market.
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Rafsanjani's pragmatic policies of economic liberalisation and better relations with the West attracted fierce supporters and equally fierce critics during his life, but his funeral brought both sides together in a show of solidarity and unity.
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Singapore's biggest liberalisation of its banking sector in two decades seeks to enable online-only banks that can operate at lower costs and therefore offer different services than those of incumbents including DBS Group and OCBC.
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Competition has intensified for utilities in Japan after the liberalisation of the 8 trillion yen ($72 billion) retail power market in 2016, followed by an opening of the $20 billion retail city gas market in 2017.
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Abubakar, who like Buhari is a Muslim from northern Nigeria, has long enjoyed support from the country's business elite and as vice president from 1999-2007 implemented a liberalisation programme in areas such as the telecoms sector.
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Kenyan businesses, from telecoms to banking to farming, are trying to position themselves to take advantage of a wave of political and economic liberalisation unleashed in the last three months by new Ethiopian prime minister Abiy Ahmed.
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The OECD, which last issued a survey on Turkey two years ago, said trade agreements to abolish tariffs on manufactured goods needed to be widened to include the liberalisation of services, investment, competition, intellectual property and public procurement.
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One approach researchers use is to search for a "natural experiment", and that is exactly what Drs Borjas, Doran and Shen found when they examined what happened to the productivity of American mathematicians after China's liberalisation in 1978.
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Explaining the sluggishness of trade, the OECD points to a "slowdown and reversal of trade liberalisation", along with the "weakening of global value chains"—the relationships between multinational companies in the West and their suppliers in developing economies.
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Because liberalisation is a prerequisite to immunity, it is no exaggeration to say that airlines' desire to serve their customers better through immunised JVs has cracked open the global aviation marketplace in ways unimaginable even 20 years ago.
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If visa liberalisation is granted after Turkey merely tweaks its laws, that would further undermine the EU. Many in Brussels are unhappy that it has sacrificed its principles to such an extent, says Marietje Schaake, a Dutch MEP.
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The company's projected return of profitability could signal a change in fortunes for an industry mired in losses since the liberalisation of the European Union sugar sector in 0003 that left producers exposed to a depressed world market.
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"It is remarkable that Zhou single-handedly pushed forward interest rate liberalisation and brought an isolated currency to the international family in his tenure," said Zhao Xijun, deputy dean of the school of finance at Renmin University in Beijing.
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Over the past three decades, it has struggled against the menace of "bourgeois liberalisation" (leaving many wondering whether there is an acceptable proletarian kind) and fought against "peaceful evolution" (exceedingly dangerous, for some reason, unlike "reform and opening up").
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Although liberalisation for residential customers remains a work in progress, Axpo's owners said revamping "outdated", 105-year-old rules governing its ownership structure and defining a new strategy are necessary to conform to requirements of a modern electricity market.
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Over the past month, the PBOC has been making the case for greater exchange rate liberalisation, even as its control has increased and it has been suspected of using market intervention to push the yuan up against the dollar.
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Economists have been approaching the issue along the lines of: liberalisation should generate gains large enough to make everyone better off, so all we need to do is liberalise and then redistribute some of the gains to the losers.
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His achievements were possible chiefly because the member states wanted to use the EU machinery as a way of catching up with the economic liberalisation that was bearing fruit in America and Britain under Ronald Reagan and Margaret Thatcher.
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And in a stark warning about the impact of Brexit on Northern Ireland, Mr Lidington pointed to demands for a 'border poll' that could see the island of Ireland reunited, with moderates attracted by social liberalisation in the Republic.
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BERLIN, May 25 (Reuters) - German Chancellor Angela Merkel said on Wednesday she was not worried about the migrant pact between the European Union and Turkey, but more time was needed to address sticking points on visa liberalisation for Ankara.
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The move comes as Singapore's biggest liberalisation of its banking sector in two decades seeks to enable digital banks that can operate at lower costs and therefore offer different services than traditional lenders such as DBS Group Holdings Ltd .
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"For 2016, we expect that the Chinese leaders will keep the situation of a managed slowdown largely under control, albeit with bouts of stress as financial liberalisation goes on," Susan Joho, economist at Julius Baer, said in a note.
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This phase of ersatz liberalisation hit a new peak in 2017 with rickety telecoms giant China Unicom, which announced in August it would divest 35 percent of its Shanghai-listed unit to Alibaba, Tencent, Didi Chuxing and others for $11.7 billion.
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The government-commissioned report, prepared by a former Air France chairman, recommended that debt transfer go hand in hand with other far-reaching changes to the way the SNCF, which is gearing up for EU-wide liberalisation from 2019, operates.
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He said the shift in global gas markets stemming from the U.S. shale gas revolution, a rapid expansion of the liquefied natural gas industry and EU liberalisation of energy markets, had forced Russia to change its oil-indexed pricing of gas.
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Trading in Zur Rose shares is set to start on July 6 The liberalisation of European Union pharmacy markets offers chances for further international expansion that Zur Rose aims to serve from its DocMorris logistics centre on the German-Dutch border.
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After African Union heads of states and governments pick the host country on Sunday, they will unveil regulations governing issues like trade liberalisation, rules of origin, removal of non-tariff barriers and the development of a payments and settlements system.
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He has long enjoyed support from the business elite in Nigeria's commercial capital Lagos for his conservative-capitalist ideals and, as vice president in a PDP administration from 1999-2007, implemented a programme of liberalisation in areas including the telecoms sector.
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The liberalisation comes days after India announced a new civil aviation policy that eased flying rules for domestic carriers, which no longer need to wait five years to fly overseas as long as they deploy 20 aircraft in the domestic market.
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Fitch believes the Spanish private healthcare sector offers some attractive fundamentals, and is somewhat resilient from the recent economic downturn given its non-discretionary nature, strong secular growth trends, a recent focus on liberalisation and the creation of public-private partnerships.
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Speaking at a news conference at the end of a high level EU delegation visit to southeastern Turkey, Davutoglu also said visa liberalisation was vital and that he believed the EU would take the necessary steps to complete the deal.
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Liberalisation of capital controls has not resulted in strong outflows of capital and downward pressure on the exchange rate, which led to strong inflationary pressures and a sharp deterioration in private sector balance sheets during and after the 2008-2009 crisis.
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PARIS, April 19 (Reuters) - A nationwide strike called by unions to protest against the government's planned liberalisation reforms has reduced French electricity generation at nuclear and coal-fired plants by over 4 gigawatts on Thursday, showed data from grid operator RTE.
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In my speech today to business leaders at the US Chamber of Commerce, I'll outline how Brexit creates a huge opportunity for increasing liberalisation in services, improving standards around the world for workers and consumers, and through better harnessing technological developments.
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Portugal's public prosecutor has said the investigation is linked to hundreds of millions of euros of state compensation paid to former monopoly EDP for giving up some long-term power-purchase contracts as part of the liberalisation of the power sector.
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Myanmar's private sector has been thriving after the military ceded power to a semi-civilian government in 2011, triggering a broad liberalisation of its fledgling economy that has attracted foreign investors seeking growth in a country of more than 50 million.
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KIEV, April 4 (Reuters) - The latest tranche of aid from the International Monetary Fund will raise Ukrainian foreign exchange reserves to $16.1 billion and paves the way for further currency liberalisation, Central Bank Deputy Governor Oleg Churiy said on Tuesday.
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The company's projected return of profitability could signal a change in fortunes for a sector which has been mired in losses since the liberalisation of the European Union sugar sector in 2017 left producers exposed to a depressed world market.
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"They are aspects which we've talked about in relation to rules that are considered part of the single market including state aid restrictions, procurement restrictions and state procurement, enforced liberalisation and privatisation that we would want to see changed," a Labour spokesman said.
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Japanese utilities, for example, must grapple with the impact of the liberalisation of domestic power markets and the potential impact on demand, as well as uncertainty over nuclear reactor restarts and the role of renewables, any of which may undercut LNG demand.
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On his maiden trip to Washington, DC, last October he brought along an entourage of entrepreneurs and businesspeople, and said he was interested in joining the Trans-Pacific Partnership—a free-trade agreement that would commit his country to significant economic liberalisation.
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"The liberalisation of the European sugar industry, the rapid development of new technologies in agriculture and industry, the new demands of consumers for health and nutrition, naturalness and sustainability will have a structural impact," the farmer-owned cooperative said in a statement.
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TASHKENT, March 5 (Reuters) - Uzbekistan's central bank kept its policy rate unchanged at 16.0% on Thursday, it said in a statement, citing external uncertainty due to the coronavirus outbreak and expected effects of price liberalisation for a number of goods and services.
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This about-turn has been caused by several factors, namely America's shale boom, Mexico's slumping oil output (down by more than 1m barrels a day in a decade) and energy liberalisation in 2014 that ended Pemex's 75-year-old hegemony over the domestic oil industry.
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Fitch believes Vietnam will be one of the largest beneficiaries of the Trans-Pacific Partnership (TPP), should it be successfully ratified by participating countries, through both enhanced medium-term growth prospects and by providing a key policy anchor for continued structural reforms and liberalisation.
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But China was not in a position to mount a serious regional challenge to America—where concern about its rapid rise was tempered by an assumption among political and business elites that the rapid expansion of its middle class would bring some measure of liberalisation.
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KIEV, April 4 (Reuters) - The Ukrainian central bank cut the amount of foreign currency that businesses are required to sell to 50 percent of their foreign earnings from 65 percent, part of a promised currency liberalisation that follows the payout of new IMF aid.
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In a statement, it said the investigation is linked to hundreds of millions of euros in state compensation paid to former monopoly Energias de Portugal for giving up some long-term power-purchase contracts under a liberalisation of the power sector, which began in 2004.
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China still owns the world's largest currency reserves, but it has been burning through them at such a pace that some think Beijing might soon have to allow a sharp fall in the yuan or back-pedal on liberalisation and tighten its capital controls.
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Substantial cost and capex synergies with an estimated net present value of approximately INR670 billion (US$10.0 billion) after integration costs and spectrum liberalisation payments, with estimated run-rate savings of INR140 billion (US$2.1 billion) on an annual basis by the fourth full year post completion.
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"Given the gas and power markets liberalisation and intensifying domestic competition in Japan, it is very important for Japanese utilities to achieve competitive LNG prices so price review negotiations are becoming more intense," said Thanasis Kofinakos, head of gas and LNG consulting, Asia Pacific, at Wood Mackenzie.
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Ultimately, though, the policy ended, partly because the Japanese government hated poking small companies into buying more American semiconductors (some newspapers reported that Japanese companies dumped the semiconductors into Tokyo Bay), and partly because of the hypocrisy of America simultaneously pushing for economic liberalisation and managed trade.
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The proposed changes, part of wider Swiss market liberalisation plans and posted in documents this month by the canton of Thurgau, would take effect in 2021 should they win support from Axpo's government owners, including the cantons of Zurich, Aargau, Glarus and Zug in the coming months.
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Mr Trump's assault on the multilateral rules-based system threatens decades of trade liberalisation, which has nudged average tariffs between America, Europe and Japan down from 231% when the system started in 216 to around 403% by 240, roughly where they remain today (see chart 269).
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" He added that "longer-range, a further legislative assault on illegal wealth, changes to restrictive labor and land acquisition laws and further FDI liberalisation are all likely further next steps and reforms that the administration is likely to press on in the next 2000-22 months.
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The prosecutor said in a statement the investigation was linked to hundreds of millions of euros in state compensation paid to former monopoly EDP for giving up some long-term power-purchase contracts as part of the liberalisation of the power sector that started in 2004.
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China's reserves are still the world's largest, but it has been burning through them at such a pace that some think Beijing might soon have to allow a sharp fall in the value of the yuan or back-pedal on liberalisation and tighten its capital controls.
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In addition to passing economic liberalisation that Mr Calderón supported but could not get through Congress, he increased federal transfers to the states to speed up the justice reform, and introduced a national penal code to ensure the uniform application of criminal law across the country.
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The document said if there is a substantial tariff liberalisation and a 25% reduction in non-tariff measures the boost to the economy will be a more modest 0.07% The government said it would maintain high standards for consumers and workers, including on food and animal welfare.
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The document said if there is a substantial tariff liberalisation and a 25% reduction in non-tariff measures the boost to the economy will be more modest 0.07% The government said it would maintain high standards for consumers and workers, including on food and animal welfare.
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Cruyff was associated, and associated himself, with the liberalisation of Dutch culture and the anti-establishment, so it was little wonder that fags became a feature of his public image, this alongside his louche aesthetic, effortless fashionability and habit of annoying the conservative orthodoxy with his defiant nonchalance.
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The RRR is not the only instrument to steer the economy and the monetary policy - the liberalisation of the interest rate market is another instrument and they could take more steps on this front which may not only have long-term regulatory effects but also short term impact.
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"The U.S. administration's declared intention of slowing down or reversing trade liberalisation processes, and the steps it has already taken in this direction, risk triggering tit-for-tat measures in other countries, with negative repercussions for world growth," Visco, who sits on the ECB Governing Council, told a financial conference.
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While some analysts have estimated that liberalisation may lead foreigners to pour as much as $600 billion into China's interbank market, some argue that lack of clarity on taxation, concerns about a flood of upcoming issuances and worries about legal recourse for foreign investors will put a cap on flows.
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Turkey and Russia reassess role in Syria Turkey seeks a way out of international isolation The Brexit vote will leave a long-lasting legacy The deal has come under increasing strain in recent weeks, with Turkey resisting an EU demand to overhaul its terror laws in order to qualify for visa liberalisation.
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Traders and analysts cited a confluence of reasons for the slide in addition to profit-taking on Thursday, including fears of tighter liquidity, worries about the economy, and anxiety over looming liberalisation of initial public offerings (IPOs), which could result in a flood of new supply that could trigger a cash crunch.
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The krona has been strengthening, despite the virtually complete liberalisation of capital controls between October 212000 and March 4807123, appreciating by 212001% yoy against the USD, and 17.3% against the EUR at end-June 2017, allowing for a build-up of FX reserves to 8.8 months of current external payments at end-2016.
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When Mr Trump called for protectionism this week, urging Americans to "take back control" (see article), he was both parroting the Brexiteers and exploiting how almost no politician has been willing to make the full-throated case for trade liberalisation as a boost to prosperity rather than a cost or a concession.
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For their part officials in Brussels argued that visa liberalisation would bind Turkey closer to EU norms; would strengthen the hand of its pro-European prime minister, Ahmet Davutoglu, against the increasingly autocratic president, Recep Tayyip Erdogan; and would enable ordinary Turks to visit their relatives, zip around on Interrail trains and sell their wares at German trade shows.
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Turkey and the EU have been discussing visa liberalisation since 2013 and agreed in March to press ahead with it as part of a deal to stop the flow of illegal migrants from Turkey to the EU. EU officials and diplomats say the EU is set to miss an end-June deadline due to a dispute over Turkish anti-terrorism law.
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JOHN WALDRON: You know I really don't worry so much about that the sense I get from my conversations on both sides of the ledger is there is a broad consensus and in the trade discussions and more broadly that that there ought to be some reform in China for financial market liberalisation which would be a good thing for U.S. banks and other institutions.
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LF: If we're-, LF: Well, if they're unable to-, if we're unable to have an independent trade policy, and if we're unable to determine the countries that we make agreements with in the future-, LF: If we have to apply European common external tariff, it's hugely restricting on what we can do, I can't see how you would get in to, for example, a free trade agreement with the US, or how we could get global liberalisation of services-, LF: Through FTAs, if we were unable to do that.
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