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Home Top Stories

After Brexit, it’s Passports: Great Britain Replaces Burgundy with Blue

The Global Economics by The Global Economics
February 27, 2020
in Top Stories
Reading Time: 2 mins read
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After Brexit, it’s Passports: Great Britain Replaces Burgundy with Blue
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Great Britain will start issuing blue passports again from March 2020 to denote Britain’s exiting of the European Union. This will be the first time for Britain since 1988, when burgundy passports were issued in EU countries.

Priti Patel, Great Britain’s home secretary, said she was happy that the switch had come about. She said, “Leaving the European Union gave us a unique opportunity to restore our national identity and forge a new path in the world. By returning to the iconic blue and gold design, the British passport will once again be entwined with our national identity and I cannot wait to travel on one.”

According to the Home Office, not only will be the new-issue blue passports be ecologically viable they will also be quite advanced in terms of technology. A spokesperson of the Home Office said, “[There were] a raft of new and updated security features, including a hard-wearing, super-strength polycarbonate data page, which contains innovative technologies embedded into the document, to keep personal data secure.”

The government’s readiness to move back to the old times was, however, not reciprocated by everyone, and especially by those who were pro-European in their outlook, vis-à-vis Brexit.

Claire Hanna, Belfast South’s Labour MP who identifies herself as a pro-European Social Democrat, said: “The fact that this is being lauded as a big win sums up Brexit. The colour changes but the opportunity and potential has been restricted. In this case, blue will represent economic harm and limited horizons for the passport holder, and that is a crying shame.”

Edward McMillan-Scott, a 30-year-old longstanding Member of European Parliament (MEP) pointed out that several Europeans would not like the idea of Britons having blue passport. He noted, “It will be seen as a symbol of the attitude prevailing in the Conservative party towards the rest of Europe that is isolationist, ignorant and self-destructive.”

The Global Economics

The Global Economics

The Global Economics Limited is a UK based financial publication and a bi-annual business magazine giving thoughful insights into the financial sectors on various industries across the world. Our highlight is the prestigious country specific Annual Global Economics awards program where the best performers in various financial sectors are identified worldwide and honoured.

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Etihad Credit Insurance Partners(ECI) With the SFD to Boost Cross Border Trade

The Global Economics by The Global Economics
February 22, 2020
in Insurance
Reading Time: 1 min read
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Businessmen checking partnership agreement

Businessmen checking partnership agreement

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The UAE Federal export credit company, Etihad Credit Insurance (ECI) is now in alliance with the Saudi Fund for Development (SFD). The partnership aims to enhance the trade, diversify and creates opportunities for the businesses and people in both countries. Additionally, it is also looking forward to providing credit insurance to protect non-oil exports of the UAE and Saudi Arabia. The main pinnacles of the collaboration involve sharing of workstreams that include insurance, reinsurance, and collections cooperation, commercial information and credit opinion sharing, cooperation in technical training programs, trade promotions, and SME programs.

According to a UAE Ministry of Economy report, the UAE’s non-oil export and re-export trade to Saudi Arabia stood at Dh79.6 billion in 2018, which was a 47.7 % increase in 2017. The report also stated that the UAE’s trade volume to Saudi Arabia has increased by 32% in 2018. Massimo Falcioni, CEO of ECI claim that “ECI believes this partnership will boost the plans of both the economies. We are certain that the association with SFD will prove to be beneficial for UAE-based businesses as they will have access to a potential business market intelligence supported with ECI’s bespoke trade credit solutions to emerging their businesses.” On the other hand, Dr Khaled Bin Sulaiman Al Khudairy, managing director of SFD, said that “SFD’s major goal is to take part in financing to uplift projects in developing countries. Moreover, We believe our this alliance will prove to be beneficial for the SME industries that will help to surpass the challenge of funds faced by SMEs.”

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