Finland to ban Russians

from buying property

ELSINKI: Finland’s government is proposing to ban most Russian citizens from buying property in the Nordic country in a move to protect national security, Defense Minister Antti Hakkanen said on Monday. Relations between Finland and neighboring Russia have soured since Moscow’s invasion of Ukraine in 2022, which prompted Helsinki to join the NATO military alliance after decades of non-alignment. The proposed ban on real estate purchases would exempt dual citizens and Russians with permanent residence in Finland or other European Union nations, and is subject to expert consultations before a later vote by parliament. “The regulations are aimed at preventing possible hostile influences against Finland,” Hakkanen told a press conference. — Reuters

Berlin extends trusteeship

over local Rosneft assets

BERLIN/FRANKFURT: Germany will extend its trusteeship over the local units of Russia’s Rosneft for six more months in anticipation of a sale of the assets to Qatar, two people familiar with matter told Reuters on Monday. The future of Rosneft’s German assets, which include a 54.17 percent stake in the PCK Schwedt refinery, has yet to be resolved after Berlin effectively took control of them following Moscow’s invasion of Ukraine. A trusteeship that puts Germany in charge of the division while leaving ownership with Rosneft has already been extended three times to protect Schwedt’s supply and to give Rosneft time to find a buyer for its stake. The people, who could not be named because they were not authorized to speak publicly, said a decision to extend the trusteeship, which is set to expire on Sept 10, once again has been made. — Reuters

Murdoch looks to buy UK

property website Rightmove

LONDON: REA Group, the Australian online real estate business majority-owned by Rupert Murdoch’s News Corp empire, said Monday it is mulling a multi-billion-pound takeover of British peer Rightmove. Shares in Rightmove soared by 20 percent in early deals on London’s top-tier FTSE 100 index, giving it a market value of almost £5.3 billion (US$7 billion). In a statement published on the London Stock Exchange, REA Group did not reveal what it would be prepared to pay for Rightmove. Following media speculation, it confirmed “that it is considering a possible cash and share offer” for all of the British company. “REA has not approached, nor had any discussions with, Rightmove regarding any potential offer.” — AFP

Malaysia, New Zealand plan

50% increase in trade by 2030

KUALA LUMPUR: Malaysia and New Zealand said on Monday they plan to increase bilateral trade by 50 percent by 2030 and will also review an existing free trade agreement. The two countries will eliminate non-tariff trade barriers that impede the flow of goods between their borders, New Zealand Prime Minister Chris Luxon said at a joint press conference with Malaysian counterpart Anwar Ibrahim. “We’re (also) working on e-certification and new customs cooperation to smooth flows at the border,” Luxon said. The countries’ trade ministers will meet next year to discuss reviewing the Malaysia-New Zealand Free Trade Agreement, Luxon said, without providing details on how they would increase trade by 50 percent by 2030. — Reuters