28 Dec 2020
International Economy
Four years have passed since the United Kingdom held a referendum in which the majority voted to withdraw from the European Union (EU), on June 23, 2016. The UK and the EU have finally concluded their negotiations over the Brexit deal prior to the end of the transition period on December 31, 2020. Going forward, the focus will be on ratification of the deal by the British Parliament for the agreement to enter into force, but in the meantime, it is expected to take effect at certain levels from January 1, 2021, onwards.... Read more
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10 Sep 2020
Ever since the results of the EU Referendum on June 23, 2016, led to the planned withdrawal of the United Kingdom from the EU, the event that all parties concerned have hoped for is a negotiation to finalize the economic and trade relations between the UK and the EU going forward. However, after the revelation of the referendum, the UK under the leadership of Prime Minister Teresa May announced the implementation of Article 50 of the Treaty of Lisbon in March 2016 to formally pave the way for the UK’s withdrawal from the EU. However, the road to negotiations was strife-torn, and the UK went through several political trials which culminated in the change of premiership to Boris Johnson, who promised sufficient support in the UK Parliament to exercise the Withdrawal Agreement, which was delayed to January 2020 from its planned enactment in late 2019. Nevertheless, it is clear that, while four years have passed, the future relationship between the UK and the EU remains ill-defined.... Read more
13 Dec 2019
The preliminary result of the UK election on December 12, 2019 shows that Boris Johnson's Conservative party has secured a majority, and he will remain prime minister. Moreover, the Conservative party has gained a comfortable majority, winning 364 seats (of the total 650 seats) in the House of Commons. KResearch thinks that such a political mandate will pave the way for the successful passage of the long ordeal Brexit law to enable the UK to begin the official process of divorcing the European Union (EU) by the latest deadline of January 31, 2020 (after three postponements). The election marks a major historic breakthrough in UK politics and eases the pressure on the regional economy. ... Read more
12 Mar 2019
After British Prime Minister Theresa May sustained a parliamentary defeat as MPs rejected her Brexit plan on January 15, 2019, the UK parliament is scheduled to vote on her revised withdrawal agreement again on March 12, 2019, being the second meaningful vote on whether to leave the EU without a deal. ... Read more
16 Jan 2019
The UK parliament voted to reject the Brexit deal presented by Prime Minister Theresa May on January 14, 2019 with 432 rejecting votes and only 202 approving votes. The result marks the heaviest parliamentary defeat of a British prime minister in history. The vote results show that members of the UK parliament refuse to accept the no-deal Brexit. KResearch views that with an option of a new round of negotiations or the second Brexit referendum, the Brexit Kickoff is likely to be postponed from the initial schedule date of March 29, 2019.... Read more
28 Jun 2017
A year has passed since the Brexit vote was undertaken, but progress has not been significant toward implementation of the resolution. According to... Read more
18 Jan 2017
Although market reactions to the ;Hard BREXIT” stance of the new UK Prime Minister are not decidedly negative, this issue, plus fragility in E... Read more