A Treasury official told Bloomberg that pillar 1 of the agreement, which entails a redistribution of tax rights on multinationals, won't be greenlit before next year amid congressional opposition. Eight nations including Ireland, Barbados, Hungary and Estonia are refusing to sign up to the minimum tax.īut there are other hurdles: US lawmakers could still prevent the country from taking part in the accord, which requires Congressional approval to be finalized. Holdout states are being pressed to sign up:The G20 is urging all countries holding out to sign up to the global corporate tax pact before the meeting of G20 leaders, according to the Financial Times. The plan, backed by G7 nations last month and agreed by some 130 countries last week, would impose a minimum global corporate tax rate of 15% on large corporations in every country they operate in. Ministers also signed off on the global tax pact: G20 finance ministers yesterday signed off on an agreement that would levy an international tax on multinational corporations, Reuters reports. IMF Managing Director Kristalina Georgieva said that the rapidly spreading delta variant means that the virus remains the “fundamental risk facing the world,” while ministers pledged to maintain economic support to prevent recoveries from faltering. THE BIG STORY INTERNATIONALLY- Covid variants + vaccine inequality threaten global economy -G20: G20 finance ministers warned yesterday that the spread of new variants of covid-19 and uneven vaccination rollouts across the developing world could jeopardize the global recovery. The story got a lot of digital ink in the global press over the weekend: Reuters | Associated Press | Washington Post I New York Times I BBC. The BBC also took note of the former first lady’s passing, as well as her contribution to advancing women’s rights in Egypt where she pushed for laws granting women the right to custody of children after divorce. The former first lady was married to late president Anwar El Sadat from 1949 until his assassination in 1981.
The widow of late president Anwar El Sadat had reportedly been struggling with illness for some time.
Her military funeral service was attended by President Abdel Fattah El-Sisi and dozens of governmental officials.
All that and more in the news well, below.īut before we get to it, we open the issue with more sombre news…įormer Egyptian first lady Jehan El Sadat passed away at the age of 88 last Friday, an Ittihadiya statement announced at the weekend. This coincided with the biggest non-story of the weekend, which saw a lot of talk and equal amounts of hand-sitting at the UN Security Council’s chamber in New York, leaving the way forward through the GERD crisis as uncertain as ever. The biggest news over the weekend came to us courtesy of Moscow, which finally announced that it had lifted its ban on direct flights to Egypt’s Red Sea resorts after six long years (though we’re still none the wiser about when airlines will have their routes up and running). Though we’re expecting the vacation to run through Thursday, the government, banks, and the EGX are yet to announce the official days off. Good morning, ladies and gents - we start the new week with the official news that Eid El Adha will begin next Tuesday, 20 July after Dar Al Iftaa yesterday evening came out with a statement confirming the news.
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