DIRS.INFO The most relevant business & tech news

NEW DELHI, Sept 9 (Reuters) - The European Union castigated Russia on Saturday for its "cynicism" in pulling out of the Black Sea grain deal, saying the offer of a million tons of grain to African countries was a "parody of generosity". "And what cynicism ... you did not accept this," Michel said in comments on the grain deal he directed at the Russian summit representative, Moscow's Foreign Minister Sergei Lavrov. "Not only have you decided to pull out of this agreement on the Black Sea, but at the same time you are attacking the port infrastructure," he said. "You are blocking the ports that give access to the Black Sea, and even to the Danube." "What cynicism and contempt for African countries," he said, adding that the Black Sea deal had delivered exports of more than 30 million tons so far, chiefly to the most vulnerable nations.

Persons: Charles Michel, Michel, Sergei Lavrov, Tayyip Erdogan, Fumio Kishida, Erdogan's, Shivangi Acharya, Sarita Chaganti Singh, Mayank Bhardwaj, Manoj Kumar, Ekaterina Golubkova, Clarence Fernandez, Jacqueline Wong Organizations: European Union, Russia, European Council, Moscow's, United, Japanese, Reuters, Thomson Locations: DELHI, New Delhi, Africa, Russia, Russian, United Nations, Turkey, Moscow, Ukraine, Europe, Japan, Kyiv

The G20 logo is shown ahead of G20 Summit, in New Delhi, India, September 8, 2023. REUTERS/Anushree Fadnavis Acquire Licensing RightsNEW DELHI, Sept 9 (Reuters) - The African Union was made a permanent member of the G20, comprising the world's richest and most powerful countries, Indian Prime Minister Narendra Modi said at the bloc's summit in New Delhi on Saturday. The African Union, a continental body of 55 member states, now has the same status as the European Union - the only regional bloc with a full membership. "Honoured to welcome the African Union as a permanent member of the G20 Family. Reuters earlier cited the draft declaration admitting the African Union as a permanent member.

Persons: Anushree, Narendra Modi, Modi, Azali Assoumani, Chris Thomas, Jacqueline Wong, Kim Coghill Organizations: G20, REUTERS, African, Indian, European Union, Union, Twitter, Reuters, Thomson Locations: New Delhi, India, DELHI, African Union, Ukraine

[1/2] Rescuers work at the site of an apartment building damaged during Russian missile strikes, amid Russia’s attack on Ukraine, in Kyiv, Ukraine June 24, 2023. Most western countries including the U.S., United Kingdom, Germany and France had pushed for a firm condemnation of Russia and the war in Ukraine, whereas Russia and its friend China had opposed any such move, the official added. The gathering in the western state of Gujarat was the G20's third finance track meeting under India's presidency. India has not been able to forge a joint statement in any of the key tracks since it took over the presidency of G20 last December. Reporting by Shivangi Acharya and Sarita Chaganti Singh; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: China, Janet Yellen, Shivangi Acharya, Sarita Chaganti Singh, Simon Cameron, Moore Organizations: Russian, REUTERS, Indian, Reuters, United Nations, Treasury, Thomson Locations: Ukraine, Kyiv, Valentyn, GANDHINAGAR, India, Russia, Gandhinagar, U.S, United Kingdom, Germany, France, Gujarat, Bengaluru

☆ Exclusive: India to push G20 to raise share of taxes on firms where they earn 'excess profit'
▼ + stars: | 2023-07-16 | by ( Shivangi Acharya Sarita Chaganti Singh Nikunj Ohri | Shivangi Acharya | Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

"India has made suggestions to get its due share of taxing rights on excess profits of multinational companies," one official said. The suggestions have been made to the OECD and will be discussed "extensively" during the G20 meeting on Monday and Tuesday, the official said. Under the agreement, global corporations with annual revenues over 20 billion euros ($22 billion) are considered to be making excess profits if the profits exceed 10% annual growth. The 25% surcharge on these excess profits is to be divided among countries. The G20 host nation will also propose that withholding taxation be de-linked from the excess profit tax principle.

Persons: Sarita Chaganti Singh, Shivangi Acharya, Nikunj, Aftab Ahmed, William Mallard Organizations: Organisation for Economic Cooperation, Development, OECD, People's, India's Consumer, Thomson Locations: DELHI, India, Australia, Japan, Gujarat, U.S, New Delhi

☆ Exclusive: India to push G20 to raise share of taxes on firms where they earn 'excess profit,' officials say
▼ + stars: | 2023-07-16 | by ( Shivangi Acharya Sarita Chaganti Singh Nikunj Ohri | Shivangi Acharya | Sarita Chaganti Singh | ) www.reuters.com time to read: +3 min

"India has made suggestions to get its due share of taxing rights on excess profits of multinational companies," one official said. The suggestions have been made to the OECD and will be discussed "extensively" during the G20 meeting on Monday and Tuesday, the official said. Under the agreement, global corporations with annual revenues over 20 billion euros ($22 billion) are considered to be making excess profits if the profits exceed 10% annual growth. The 25% surcharge on these excess profits is to be divided among countries. The rules now say countries offset their share of taxes with the withholding tax they collect.

NEW DELHI, July 13 (Reuters) - Global finance chiefs will meet in India next week to discuss increasing loans to developing nations from multilateral institutions, reforming the international debt architecture and regulations on cryptocurrency, Indian officials said. The finance ministers and central bank governors from the Group of 20 (G20) nations will also discuss a multilateral agreement on taxing conglomerates with cross-border operations, while the Russian war in Ukraine was also bound to come up, they said. Senior treasury officials from Russia and China are also expected to attend, according to two Indian officials, who did not want to be named. The finance ministers and treasury heads will also attempt to bring agreement on the principles of managing cryptocurrencies in their respective geographies. Additional reporting by Maria Martinez and Leigh Thomas; Editing by Raju GopalakrishnanOur Standards: The Thomson Reuters Trust Principles.

Persons: Janet Yellen, Ajay Banga, Kristalina Georgieva, Lawrence Summers, N.K, Singh, Ajay Seth, Maria Martinez, Leigh Thomas, Raju Gopalakrishnan Organizations: Global, Treasury, International Monetary Fund's, Economic, IMF, Organisation for Economic Co, Development, OECD, Thomson Locations: DELHI, India, Ukraine, Gandhinagar, Gujarat, New Delhi, U.S, Russia, China, Zambia, Ghana

"India is not keen to discuss or back any additional sanctions on Russia during the G20," said one of the officials. "The existing sanctions on Russia have had a negative impact on the world." Japan's finance minister said on Tuesday that financial leaders of the Group of Seven (G7) nations will meet on the sidelines of the G20 meeting to discuss measures against Russia. "Russia themselves want to discuss the economic impact of sanctions." However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

Finance ministers and central bank chiefs from G20 nations will join the meeting on Friday. The meeting in the Nandi Hills summer retreat is the first major event of India's G20 presidency and the war in Ukraine is likely to feature prominently during the proceedings. The G20 finance ministers and central bank chiefs are also expected to discuss unblocking debt restructuring for distressed economies that have been badly hit by the COVID-19 pandemic and the war in Ukraine. U.S. Treasury Secretary Janet Yellen and German Finance Minister Christian Lindner will be attending the meetings and are expected to press China to "quickly deliver" on debt relief for low and middle income countries. However, neither the Russian finance minister nor the central bank chief were expected to attend the meeting and they will be represented by their deputies.

[1/2] The Gateway of India monument in Mumbai is lit up to mark India's G20 presidency on December 13, 2022. REUTERS/Francis Mascarenhas/File PhotoBENGALURU, Feb 22 (Reuters) - India does not want the Group of 20 nations to discuss additional sanctions on Russia for its invasion of Ukraine during New Delhi's one-year presidency of the bloc, six senior Indian government officials told Reuters. "India is not keen to discuss or back any additional sanctions on Russia during the G20," said one of the officials. "The existing sanctions on Russia have had a negative impact on the world." India has also sharply raised purchases of oil from Russia, its biggest supplier of defence hardware.

Search resuls for: "Shivangi Acharya Sarita Chaganti Singh"

9 mentions found