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Muhammad Akbar
International Releases

SYDNEY (Reuters) SYDNEY (Reuters) Asian shares fell on Monday, while the euro suffered a new fall following Russia shutting down a major pipeline for gas to Europe which prompted some government officials to announce measures of emergency to help ease the pressure on the rising cost of energy.

The euro was trading down 0.4 percent to $0.9908 and is expected to reach its 20-year lowest of $0.99005 when markets were pricing in the possibility of a European recession.

Germany has announced its plans to invest the equivalent of 65 billion euros ($64.7 billion) in order to shield businesses and customers from rising costs. In addition, Finland and Sweden provided guarantees on liquidity to ensure that power companies remain in operation.

The price of oil rose along with the entire energy sector due to the fact that a holiday in U.S. markets made for the most tense trading conditions. Reports of another coronavirus lockdown in China increased the anxiety.

MSCI's largest index of Asia-Pacific shares outside of Japan decreased 0.1 percent, while Japan's Nikkei fell by 0.3 percent.

Wall Street fared better as S&P 500 futures climbed 0.3 percent while Nasdaq futures 0.2 percent, even though EURO STOXX 50 futures were forecast to trade lower.

The energy crisis has become an additional challenge that will affect the European Central Bank (ECB) when it meets this week to discuss the extent of its interest rates.

Companies within the UK are increasingly shifting to electric vehicles because of an array of tax relief, environmental and other reasons that have revealed today.

A record-breaking demand has been spotted by Azets which is the largest regional accountant as well as a business adviser to SMEs after announcing a new strategic alliance in conjunction with Total Motion, a major UK leasing and fleet management service that provides plans for salary sacrifice through the trading firm Pink Salary Exchange.

David Hedges, Employment Tax Partner, Azets, provides guidance to businesses looking to shift away from petrol and diesel to a more sustainable fleet, which includes plug-ins.

He stated: "The UK's net-zero carbon strategy is focusing minds in ways we've never seen before. This is evident through the growing demand for electric battery companies automobiles.

"We are constantly receiving requests from businesses wanting to give their staff an approved tax benefit "benefit-in-kind" using zero carbon emissions or low carbon emission vehicles.

"Around 90 percent of our work with regard to company cars was based on internal combustion engine (ICE) while the remainder of 10% being electric vehicles. However, the situation appears to be changing. The trend is towards the utmost importance of the inclusion of electronic vehicles within an overall reward package for employees. This is prevalent across the UK.

Muhammad Akbar
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