1. Facebook and Google may soon be compelled to pay if New Zealand’s new law is passed
Facebook and Google may soon be compelled to pay if New Zealand’s new law is passed. The New Zealand government has outlined plans to implement legislation mandating payment to New Zealand media outlets by major online digital businesses including Alphabet of Google and Meta Platform, for local news items displayed in their feeds. According to a statement released by the Ministry of Broadcasting on Sunday, the proposed legislation would be based on precedents set by laws in Australia and Canada, and Minister Willie Jackson hopes it will encourage digital platforms to establish licensing agreements with regional media sources. Especially small regional and community newspapers in New Zealand are finding it difficult to stay profitable as more advertising moves online. Jackson added, readers who benefit from its news coverage must contribute to its funding.
2. Turkish lira has been widely accepted as an alternative to the dollar, non-dollar trading has picked up speed
Our next update comes from Turkey. Since the Turkish lira has been widely accepted as an alternative to the dollar, non-dollar trading has picked up speed. According to official figures, Türkiye’s exports denominated in Turkish lira more than doubled in November from a year ago, boosting Ankara’s push to increase the use of the national currency in international trade. Turkey has been pushing for the use of national currencies in bilateral commerce for some time now, especially with its major trading partners including China, Russia, Iran, and the Gulf Cooperation Council (GCC) countries. According to figures from the Ministry of Trade, the value of lira-denominated exports increased dramatically in November, jumping 114% year-over-year to Turkish Lira 15.68 billion ($841 million).
In November, imports increased at an even quicker rate, reaching a staggering 35.63 billion Turkish Lira. The total amount of lira that was transacted in international trade for the month of November reached 51.31 billion. The statistics indicated that exports denominated in the national currency from January to November increased by 94% year-over-year to a total value of Turkish Lira 113.7 billion. At the same time, imports increased to Turkish Lira 234.8 billion, bringing the entire value of trade to Turkish Lira 348.5 billion.
3. South Africa. Cyril Ramaphosa, president of South Africa, has dismissed calls for his resignation
Now next NEWS is from South Africa. Cyril Ramaphosa, president of South Africa, has dismissed calls for his resignation. Cyril Ramaphosa, president of South Africa, is expected to resist demands for his resignation despite a damning investigation. Ramaphosa, according to his spokesperson Vincent Magwenya, would neither quit “based on a false report,” nor will he “stand aside.” President Zuma “has taken to heart the clear message emerging from the sections of the ruling party who have nominated him to avail himself for a second term of the leadership of the ANC (African National Congress),” Magwenya said. It was assumed that Ramaphosa would be re-elected as ANC president before the report was made public. Although Ramaphosa was elected to clean up corruption, he is currently under investigation for the misappropriation of over $500,000 from his game farm in 2020. According to the panel’s inquiry, the money was hidden under a leather sofa. news lines 365.com will keep you updated on it.
4. COVID-19 cases are on the rise in the USA
Next NEWS is from USA and COVID-19. COVID-19 cases are on the rise in the USA. U.S. hospitals will see an increase in covid-19 patients after Thanksgiving, while also dealing with waves of people with respiratory viruses like RSV and influenza who are sick and coughing. More than 35,000 people were admitted to hospitals due to Covid last week, the largest number in three months recorded by the Washington Post. The number of people admitted to hospitals throughout the country had been relatively flat this fall, but it began to rise in the week coming up to Thanksgiving. Hospitals are already feeling the impacts of influenza and respiratory syncytial virus (RSV), so public health officials are worried that the influx of covid patients will only make things worse. news lines 365.com is committed to keeping you updated on COVID-19.
5. Canada’s new Open Work Permit law to eliminate severe labor shortages
Now next NEWS is from Canada’s new Open Work Permit law. Families of Canadians with Open Work Permits will be able to apply for and accept employment in the country. Canada, to alleviate severe labor shortages, family members of Open Work Permit (OWP) holders will also be eligible to apply for work permits, which will greatly benefit the thousands of Indian professionals and other foreigners already living and working in the country. The Open Work Permit (OWP) paves the way for foreign nationals to work in Canada for any company, in any field. On Friday, Minister of Immigration, Refugees, and Citizenship Sean Fraser said that his agency will begin issuing work permits to the family members of temporary foreign employees.
The number of family members who can work in Canada has also increased. In 2023, dependents of primary applicants will be able to legally enter the Canadian labor force, “Fraser made a tweet about it. He stated in a statement, “Expanding the eligibility for work permits to family members accompanying the lead applicant to Canada would help alleviate labor shortages by supporting firms in locating the personnel they need.” According to Fraser, a shortage of labor is still often cited as the most significant challenge facing businesses across the country.
6. The G7’s price cap for Russian oil goes into effect
Today’s last news from EU-Russia Oil Cap. The G7’s price cap for Russian oil goes into effect. The European Union, the G7, and Australia agreed on putting a price ceiling on Russian oil that is transported by sea, and that cap is now in effect. The price ceiling of $60 per barrel, which went into effect on Monday, has the dual purpose of restricting Russia’s ability to fund its conflict in Ukraine while also ensuring that it continues to supply the global market. Moscow, on the other hand, has stated that it would not comply with the policy even if it requires a reduction in output. In addition to the European Union’s ban on the importation of crude oil from Russia by sea, other countries including the United States, Canada, Japan, and the United Kingdom have also made similar commitments. It indicates that Russian oil can be exported to third-party nations utilizing tankers from the G7 and EU, as well as insurance and financial institutions from those two groups.
According to the price cap, the price per barrel of oil must be equal to or less than $60. The cap might make it difficult for Moscow to sell its oil at a higher price because most of the world’s major shipping and insurance corporations are headquartered in countries that are members of the G7. Countries that choose not to comply with the measure will be able to continue purchasing oil from Russia at prices higher than the ceiling set by the act; but they will not be able to use Western services to acquire, insure, or transport the oil. The official also stated that Russia is already “under pressure” from its customers to offer discounts. On the other hand, Russia, which is the world’s second-largest oil exporter, announced on Sunday that it would not accept the quota and that it would not sell oil that is subject to it. news lines 365.com will follow up on this topic and bring the most updated news on it.
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