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World Bank warns G20 against doing too little now to address debt problems
  + stars: | 2020-11-21 | by ( Reuters Staff | ) www.reuters.com sentiment -1.00   time to read: 1 min
FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. REUTERS/Johannes P. Christo/File PhotoWASHINGTON (Reuters) - World Bank President David Malpass on Saturday warned G20 leaders that failing to provide more permanent debt relief to some countries now could lead to increase poverty and a repeat of the disorderly defaults seen in the 1980s. Malpass said he was pleased by progress on debt transparency and debt relief, but more needed to be done. “The debt challenges are becoming more frequent, including in Chad, Angola, Ethiopia and Zambia where, in the absence of more permanent debt relief, the poverty outlook remains bleak,” he said in remarks to a summit of leaders of the Group of 20 major economies.
Persons: Johannes P, David Malpass, Malpass, Organizations: Bank, International Monetary Fund, REUTERS, WASHINGTON Locations: Nusa Dua, Bali, Indonesia, Chad, Angola, Ethiopia, Zambia
World Bank warns G20 against doing too little to tackle debt problems
  + stars: | 2020-11-21 | by ( Reuters Staff | ) www.reuters.com sentiment -0.96   time to read: +2 min
FILE PHOTO: A participant stands near a logo of World Bank at the International Monetary Fund - World Bank Annual Meeting 2018 in Nusa Dua, Bali, Indonesia, October 12, 2018. “Debt reduction and transparency will enable productive investment, a key to achieving an earlier, stronger and more lasting recovery,” Malpass told G20 leaders during a videoconference meeting. Some countries, including China, have remained reluctant to embrace the need for debt cancellation, although top economists say that will likely be needed in some cases. Private sector creditors have also failed to join in, despite repeated calls by G20 leaders, civil society groups and the United Nations. In Sudan, he said he was hopeful that arrears clearance could move quickly, especially given the inflow of refugees from neighboring Ethiopia, which would allow substantial World Bank funding to begin flowing almost immediately.
Persons: David Malpass, Johannes P, Malpass, ” Malpass, Organizations: WASHINGTON, Bank, International Monetary Fund, REUTERS, Group, United Nations, West Bank, United Locations: Nusa Dua, Bali, Indonesia, Latin America, Chad, Angola, Ethiopia, Zambia, China, Somalia, Lebanon, Gaza, Sudan, United States
The poshest hotels that opened in Asia in 2020
  + stars: | 2020-11-20 | by ( Monica Buchanan Pitrelli | ) www.cnbc.com + 0.00   time to read: +7 min
Many hotels named among the "best new hotels of 2020" this year have yet to welcome a single guest. Accor has opened 76 hotels in Asia this year, with another 32 set to open before the end of 2020, said Reid. New hotels in Bali and BhutanThe Raffles Bali, perhaps Accor's most lauded new hotel of 2020, opened in early July. Big names in BangkokCapella Bangkok opened in October, despite the country being mostly closed to international travelers. Courtesy of Ritz-Carlton, NikkoThe Ritz-Carlton, Nikko also opened in July — less than three weeks after another Ritz-Carlton hotel opened in Nanjing, China.
Persons: didn't Gaynor Reid, Reid, Willem Deenik China, Accor, Willem Deenik, Perle, Asia's, Raffles, John Blanco, CNBC's, Blanco, Bill Bensley, Kimpton, Patrick Both, Nathan Cook, sanitize, Nara, Chuzenji Organizations: AccorHotels, Accor, Pullman, Mondrian, Raffles, Bangkok Capella, Capella, Capella Bangkok, Bangkok isn't, Olympic Games, Ritz, Carlton, UNESCO, Heritage, Carlton Reserve Locations: Napa, Paris's, Asia, Asia Pacific, China, Singapore, Vietnam, South Korea, Bangkok's Suvarnabhumi, Mondrian Seoul, ., Bali, Bhutan, Raffles Bali, Thimphu, Punakha, Gangtey, Paro, Bangkok, Bangkok Capella Bangkok, Thailand, Capella Bangkok, Southeast Asia, Lai Bangkok, Kimpton, Chao Phraya, Japan, Tokyo, Covid, Shinjuku Tokyo, Otemachi, Marunouchi, Nara, Kyoto, It's, Heijo, Nikko, Nanjing
Working remotely from paradise? What it means for your taxes
  + stars: | 2020-11-05 | by ( Andrew Osterland | ) www.cnbc.com + 0.00   time to read: +4 min
U.S. taxpayers can either claim a credit for taxes they pay in a foreign country or exclude foreign income from U.S. taxes. Gene Zaino founder of MBO PartnersThe foreign tax credit mitigates the effect of double taxation from both the U.S. and a foreign country. You're claiming a credit for foreign taxes levied on your earnings. For instance, travelers must meet a set of conditions to qualify for the foreign earned income exclusion, including a "physical presence test." High-tax states like New York, California or Virginia may claim that you need to pay income taxes even if the federal government recognizes you as a foreign resident.
Persons: Minott, Virojt, Gene Zaino, you'll, David McKeegan, Carrie Organizations: MBO, U.S, Tax Services, Foreign Bank, Financial, Treasury, Network, Getty Locations: U.S, Bali, Costa Rica, New York , California, Virginia
Total: 4