Page 5 - G20

G20 finance ministers agree to work toward effectively taxing super-rich

Finance ministers from leading rich and developing nations agreed Friday to strive toward effectively taxing the super-rich, a joint ministerial declaration said. With full respect to tax sovereignty, we will seek to engage cooperatively to ensure that ultra-high-net-worth individuals are effectively taxed, the declaration said after the two-day meeting in Rio de Janeiro. Brazil has made a proposal to impose a 2% minimum tax on billionaires a top priority of its presidency of the Group of 20, ahead of the Nov. 18-19 summit in Rio. While the final declaration stops short of agreeing on a specific global tax, Brazilian Finance Minister Fernando Haddad nevertheless called it a significant step forward. We were always optimistic about this result, but it really exceeded our initial expectations, Haddad told reporters. Brazil's proposal to tax billionaires has divided G20 nations. France, Spain and South Africa have expressed support, while the U.S. is against. Tax policy is very diff

G20 agree on Brazil's billionaire tax idea to effectively tax ultra rich

The declaration, which will be published on Friday, was a priority for Brazil, chairing talks of the G20 this year

G20 agree on Brazil's billionaire tax idea to effectively tax ultra rich

The declaration, which will be published on Friday, was a priority for Brazil, chairing talks of the G20 this year

World's top 1% gained $42 trillion in a decade, taxes at record lows: Oxfam

The amount is 36 times greater than the wealth accumulated by the poorest half of the world's population, and nearly 80 per cent of the world's billionaires reside in G20 countries

G20 draft communique sees growing chance of global economic 'soft landing'

Speaking to the press, Brazil's G20 finance track coordinator, Tatiana Rosito, said negotiations were ongoing, but she "firmly" believed there would be consensus for an extensive joint statement

Digital tax talks in spotlight at G20 meet as US tariff threat looms

Canada in July became the eighth country to impose a unilateral digital services tax

India pushes for plug-and-play DPI models to keep sovereignty: Report

DPI of countries should be universally applicable, says India's G20 task force report

World at cusp of ushering India era as we gain developed status: NK Singh

The world is at the cusp of ushering in an India era as the country's growth trajectory moves towards a developed nation status by 2047, leading economist and policymaker N K Singh has said. In his address on being conferred a prestigious Honorary Fellowship at the London School of Economics and Political Science (LSE) on Wednesday evening, the President of the Institute of Economic Growth said he was humbled to be joining the ranks of fellow Indians such as Nobel laureate Professor Amartya Sen and former president K R Narayanan. The renowned university said the honour was in recognition of Singh's long-standing and committed relationship with the LSE and his efforts to facilitate its unique relationship with India as Co-chair of LSE's India Advisory Board. It is a humbling moment for me considering the stature of many of my predecessors. The LSE has been a centre of academic excellence since its inception in 1895. Its connection with India has been an intensive, inquisitive and ...

Brics discusses trading in local currency, African Union, and Palestine

India welcomed Egypt, Iran, UAE, Saudi Arabia, and Ethiopia who attended their first Brics meeting in Russia on Tuesday

World Bank set to issue up to $1 billion in debut hybrid note this year

The G20 group of major economies has urged multilateral lenders to explore hybrid financing structures in a push to try

We need more large companies to aid India's high growth: Amitabh Kant

Amitabh Kant discusses India's role in G20 and path to becoming a developed nation by 2047 at Business Standard Manthan

G20 finance chiefs' meet: Brazil warns of global economic challenges

He also said the G20 finance leaders are discussing financing for Ukraine to raise pressure on Russia, adding that funds could be mobilized for Kyiv by using proceeds from frozen Russian assets

World economy has growing chance of pulling off soft landing: G20

The statement reflects a relatively upbeat view of a global economy that's struggled in recent years to overcome the impact of the pandemic, soaring inflation and a sharp increase in interest rates

G20 finance leaders eye regional 'conflicts' in tight draft communique

"Risks to the global economic outlook are more balanced," with faster-than-expected disinflation and more growth-friendly fiscal consolidation underpinning growth, the draft said

Private capital yet to embrace energy transition, says CEA Nageswaran

While urging multilateral development banks to act on the recommendations of the independent expert group under India's Group of Twenty (G20) presidency to mobilise private capital, the CEA added

FM asks World Bank officials to lead G20 agenda of strengthening MDBs

FM also suggested the World Bank explore the possibility of implementing Infrastructure Investment Trusts in infrastructure sectors such as roadways

PM Modi calls for cooperation among countries in justice delivery

Prime Minister Narendra Modi noted on Saturday that criminals have been using the latest technology for funding and operating across regions as he called for rethinking, reimagining and reforming legal systems to deliver justice. Speaking at the Commonwealth Legal Education Association (CLEA) - Commonwealth Attorneys and Solicitors General Conference (CASGC), he said countries already work with each other in the domain of air traffic control and maritime traffic, and advocated extending this to investigation and justice delivery. "When we work together then jurisdiction becomes a tool to deliver justice and not to delay it," he said, adding that the nature and scope of crime have seen radical changes. Sometime ensuring justice in one country requires working with other countries, he said. He expressed hope that the conference works to ensure that everyone has access to timely justice and no one is left behind. The rise of cryptocurrency and cyber threats presents new challenges an

Ram temple, G-20, Bharat Ratna: Top quotes of Prez Murmu's R-Day address

President Droupadi Murmu on Thursday praised the recent inauguration of the Ram temple in Ayodhya during her Republic Day Eve address to the nation

Energy Efficiency Services inks 5 initial pacts to boost renewables, others

State-owned Energy Efficiency Services Ltd (EESL) on Thursday said it has inked five initial pacts with partners to boost energy efficiency and renewables in the country, aligning with G20 and COP28 commitments. These initiatives are poised to double energy efficiency and triple renewable energy, in line with the ambitious targets set at COP28 and G20, an Energy Efficiency Services Ltd (EESL) statement said. According to the statement, EESL, a joint venture of public sector undertakings under the administration of the Ministry of Power, has signed memorandum of understanding (MoUs) with strategic partner organisations. EESL Chief Executive Officer Vishal Kapoor said, "The commitment we are making through these MoUs is crucial for not only support in meeting our Nationally Determined Contributions but also for contributing to the global effort in achieving the goals set at COP28". Collaborations like these are crucial imperatives for us to actively contribute to the goal of doubling

India's G20 Presidency ensured gender issue not reduced to sidelines: Irani

While representing the Confederation of Indian Industry at the World Economic Forum in Davos, the Minister noted India's growth in the technological sector and mentioned the launch of the COWIN app