Royalty in the News » economics

Prince Daniel Visits Trade Council in London

Megan M — Sat, 19 Feb 2011 00:46:59 +0000

Sweden’s Prince Daniel made his first solo trip abroad Wednesday for a two day visit to the Trade Council in London. He was there to learn more about Swedish exports.

Scanpix

“Prince Daniel visited our office in Stockholm in December,” said Ulf Berg, President of the Export Council.

“We wanted to show Prince Daniel how Trade Council works in the field, how an office works abroad.”

During a round table discussion, Daniel heard from several company representatives about their experiences in the U.K., from cultural experiences and the British economy. The Prince also visited the Swedish embassy for a briefing on how the embassy works.

On Thursday, Daniel and Ulf Berg went to a supermarket chain to learn about how Swedish food exporters are trying to penetrate the British food market this year. Sweden’s goal is to sell food in 200 stores.

Source: Kungehuset.se

Jordanian King Orders Price Cuts to Ease Economic Troubles

Megan M — Wed, 12 Jan 2011 02:46:08 +0000

King Abdullah II ordered his government to slash fuel and food prices in order to prevent any economic unrest. The initiative took place on Tuesday, with the government releasing a $169 million dollar plan just days after a labor activist announced plans for a protest.

AFP/File/Chris Kleponis

It is also being seen as a chance to prevent any civil unrest that is being seen across North Africa to happen in the Hashemite Kingdom.

The King told Prime Minister Samir Rifai to take “immediate and effective measures to mitigate the impact of rising prices of commodities on citizens,” a senior official told AFP.

“The King has called for protecting poor and middle-class citizens, giving them the means to ensure their basic needs,” he said.

“The King said basic commodities should be sold to citizens at the lowest possible prices.”

However, the labor activist, Mohammed Sneid called the move “insufficient.” He said he was “going ahead with our peaceful protest as scheduled” on Friday. The rally will be against rising fuel and food prices and a soaring inflation, which rose by 1.5 percent to 6.1 percent last month.

In addition, Jordan has been dealing with a record budget deficit of $2.1 billion, high unemployment and poverty among its 6 million people, most of whom are under 25 years.

North African countries like Algeria and Tunisia have been seeing civilians clash with police during riots over struggling economies.

“Clearly, the government is trying to contain the people’s resentment,” said Mohammad Masri, a researcher at the University of Jordan’s Centre for Strategic Studies.

“What happened in Tunisia and Algeria has pushed the state to act.”

Source: AFP, AP

Prince Alois Recognizes China’s Full Market Economy Status

Megan M — Tue, 31 Aug 2010 21:21:26 +0000

Prince Alois von und zu Liechtenstein visited China Monday to meet with Chinese Vice President Xi Jinping and to hail the country’s status as a full market economy.

Prime Minister Klaus Tchutscher accompanied the Prince to Beijing, and he and Xi both signed agreements to recognize the new stage in Chinese economics.

The Vice President praised Liechtenstein’s 60 year relationship with his nation during the ceremony and spoke of his hopes for further cementing the bilateral relations.

In turn, Prince Alois and Tchutscher said they value their ties with China and also hope to broaden relations in the economics, trade, culture and tourism sectors.

Following the Beijing meeting, Alois and Tchutscher will visit Shanghai and go to the World Expo.

Source: Xinhua

Poll: What was the Biggest Royal News Story of 2009?

Megan M — Thu, 17 Dec 2009 02:48:10 +0000

2009 saw a lot in the world of royalty. From wedding announcements and divorces, royal scandals and royal births, legal issues and attacks, this year certainly kept royals all over the world in the news.

Vote now on what was the biggest royal news story of 2009!

Take Our Poll

Dubai Sheikh Turns to Abu Dhabi for Financial Assistance

Megan M — Sun, 29 Nov 2009 01:24:35 +0000

As Dubai’s debt worsens, its ruler, Sheikh Mohammed bin Rashid al-Maktoum may have to turn to its oil-rich fellow emirate, Abu Dhabi for help.

MARWAN NAAMANI/AFP/Getty Images/FILE

But will that emirate assist Dubai again? Abu Dhabi already helped Dubai earlier this year with a $10 billion bailout when the global recession first hit. Sheikh Mohammed has always said the two emirates have tight bonds, but how the two will ride out this financial crisis will determine that.

“Differences between the two city-states remain on how to approach the economy and the financial crisis,” said Hani Sabra of Eurasia Group, a U.S.-based research firm. “But now Abu Dhabi is obviously the more dominant emirate.”

When Dubai announced its debt payment was being put on hold, two Abu-Dhabi banks bought $5 billion Dubai bonds, but nothing more.

“I guess Abu Dhabi is saying there will be no blank check for Dubai,” said Jane Kinninmont, a London-based specialist on Gulf economies at the Economist Intelligence Unit.

Just this month, Sheikh Mohammed insisted that all was well with Dubai’s finances and told media critics to “shut up.” Most of the plans he had for Dubai’s development – such as real-estate on the artificial island Palm Jumeirah, and other major property plans – have been put on hold. As a result, Dubai has become the biggest symbol of the global property bubble bursting. Its financial woes have some wondering if another crisis is on the way.

Next week may display that. The global stock markets reopen on Monday, following the shockwaves Dubai caused on Friday. Wednesdaay is the UAE’s national day. Whether Abu Dhabi is willing to help its neighbor remains to be seen.

“There is no point throwing good money into Dubai‘s black holes,” said Christopher Davidson, an expert in Emirate affairs at Britain’s Durham University. “These are mistakes of Sheikh Mohammed and he needs to deal with them.”

Royal Belgian Economic Mission to Morocco

Megan M — Tue, 24 Nov 2009 00:49:21 +0000

On Sunday, the Crown Princely couple of Belgium began a five day economic mission to Morocco. Philippe and Mathilde arrived in Casablanca and were greeted by Prince Moulay Rachid, King Mohammed VI’s brother and their host. Accompanying them were 300 Belgian business leaders. Although they arrived on a Sunday, things did not get started for everyone until Monday.

Maghreb Arabe Presse

The day began with Philippe at an inaugural meeting of the Ministerial conference of the countries of the Middle East and North Africa and those of the Organization for Economic Cooperation and Development (OECD-MENA) in Marrakech. The Crown Prince spoke of mutual trust between countries in order for trade to take place.

“Without trust, there can be no investment at least in a market economy because it is always a gamble on the future,” he said in a speech. “Trust is another essential ingredient. The recent crisis, marked precisely by a sudden drop in confidence, providing a further striking illustration.”

“Our economies must be restarted, there is prosperity for our citizens and their employment prospects. The effects of the crisis are still being felt, but the crisis has led to an awareness of the crucial role of good governance.”

Later on, Philippe met with Prime Minister Abbas Al Fassi. The Prime Minister spoke of the great relationship Morocco and Belgium have together.

In the afternoon, the Crown Prince and Princess visited the marketplace of Marrakech. They toured the stands, tested local food, and chatted with the vendors.

Monday also included a visit to Marrakech’s treatment plant wastewater, and to an arts gallery.

Philippe & Mathilde in United Arab Emirates

Megan M — Thu, 29 Oct 2009 15:12:17 +0000

Belgian Crown Prince Philippe and Crown Princess Mathilde are currently in the United Arab Emirates. They arrived separately yesterday, with Philippe coming from Saudi Arabia and Mathilde arriving from Belgium. Both have different agendas in the UAE, but the main purpose of their trip is to strengthen ties between their country and this Gulf nation.

WAM.ae

First stop was Abu Dhabi, where Mathilde met with the Chairperson of the Family Development Foundation and Chairwoman of the General Women’s Union, Sheikha Fatima bint Mubarak at her palace. The two discussed women’s issues and how women in the UAE are working on the development of their country. Mathilde praised the Sheikha for her works.

Afterward, the Crown Princess stopped by Abu Dhabi Women’s College, where she met with students and educators. Mathilde lauded the college for its high standards and the students’ love of learning.

While that was happening, Crown Prince Philippe was meeting with Health Minister Dr. Hanif Hassan. With him was a Belgian delegation made up of representatives of the investment, trade, public services, business and media sectors, who were there to get an idea of how the UAE is developing its health sectors.

WAM.ae

Philippe also met with Foreign Trade Minister Sheikha Lubna Al Qasimi, with whom he further discussed Belgian investment with the UAE. Sheikha Lubna encouraged the Belgian delegation to work with her country.

Next, the Crown Princely couple reunited and met with the Minister of Higher Education and Scientific Research, Sheikh Nahyan bin Mubarak Al Nahyan. Crown Prince Philippe and the Sheikh talked about tightening bilateral ties.

Thursday, the couple moved on to Dubai, where Philippe was welcomed by Sheikh Mohammed bin Rashid Al Maktoum, who is both ruler of Dubai and the Vice President of the UAE. During their meeting, the Crown Prince and the Sheikh discussed economic ties between Belgium and the UAE.

Crown Prince Philippe Meets Saudi King Abdullah

Megan M — Sat, 24 Oct 2009 23:33:31 +0000

Crown Prince Philippe was received by Saudi Arabia’s King Abdullah today as part of the Belgian royal heir’s economic mission to the Middle East. He will be in the region for about a week in hopes of expanding Belgium’s business ties there.

But first, Philippe met with the Custodian of the Two Holy Mosques, and they had talks about their countries bilateral ties. The Crown Prince was accompanied by a large Belgian delegation of 250 people that included former Prime Minister Yves Leterme.

One of the things the King and the Crown Prince discussed was interfaith issues. Philippe praised King Abdullah for creating events for interfaith dialogue, as he did last year in Spain. Even Leterme lauded the King for his efforts.

In addition, there were talks of the Mideast peace process, oil and other business ties.

“We discussed precisely the volatility of oil prices and about the diversification of energy supplies in Europe. Several regional issues were also taken up during discussions,” Leterme told reporters at the Belgian embassy.“We also made an assessment of our bilateral relations, which are very good,”

Business deals will be signed during the Crown Prince’s stay, which would last five days.

Then, he is off to the United Arab Emirates, where Philippe will continue to do his Belgian economic mission. He will also meet up with wife Crown Princess Mathilde in Abu Dhabi.

Crown Prince Philippe on Economic Mission to South Korea

Megan M — Sat, 09 May 2009 16:42:29 +0000

The heir to the Belgian throne is spending six days in South Korea beginning Saturday.

: Getty Images/Zimbio

As honorary chairman of the Belgian Economic Mission, Crown Prince Philippe would be present for the signing of economic agreements.

One of them would be the cooperation between the Belgian port of Zeebrugge and the South Korean port of Pyeongtaek, on the country’s west coast. Both ports have increased production in recent years, and both are active in automotive, containers, liquefied gas and steel.

The two ports are interested in working with each other, and it would be Philippe who would organize the economic agreements.

Crown Princess Mathilde is not with her husband for this trip; she remains in Belgium.

Crown Prince Philippe On Economic Mission In South America

royaltyinthenews — Tue, 07 Oct 2008 05:08:08 +0000

The future King of Belgium is on tour of South America this week, meeting with national leaders to discuss economic ties with the European kingdom.

Crown Prince Philippe is in Argentina right now, until Wednesday. He will then move on to Uruguay and stay there until Friday.

Already, the prince has met with Argentinean Chancellor Jorge Taiana before the beginning of a trade meeting between Argentina and Belgium at Argentinean Chancellery Palace San Martin.

He also visited the gas electricity factory ‘General Manuel Belgrano’ in Campana, as well as seeing the construction site of two boilers built by CMI (Cockerill Maintenance and Ingénierie) from Portadown. The Belgian group Umicore, specializing in material technologies, had its new factory in Argentina officially inaugurated in the presence of Crown Prince Philippe and Federal Minister for Enterprise and Simplification Vincent Van Quickenborne. In Pilar, about 60 kilometers from Buenos Aires, the new factory of Umicore is within two to three weeks of operation.

The minister of Foreign Affairs, Karel de Gucht is accompanying the prince. Tomorrow, he will meet with Argentinian president Cristina Kirchener.