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Bloomberg UK Chancellor of the Exchequer Rishi Sunak wants the US government to sign up to a global tax on technology companies such as Google and Facebook Inc, he said in an interview with the Mail. He urged President Joe Biden’s administration to discuss the new tax in time for Group of Seven meetings next month. The US has indicated ...

Bloomberg A full global deal to overhaul taxation rules and make multinationals pay more in countries where they operate may not be achieved until October, the chief of the Organisation for Economic Cooperation and Development (OECD) said on Monday. Speaking in Paris, Angel Gurria said a “180-degree change in the position of the US” has accelerated the talks, making an ...

Bloomberg Sweden’s economy returned to its pre-pandemic level in the first quarter as the recovery in the largest Nordic economy is outpacing most of its wealthy peers. The gross domestic product was unchanged in the first quarter from the year-earlier level, on a calendar-adjusted basis, according to the Stockholm-based statistics office. Swedbank’s analysts Pernilla Johansson and Maria Wallin Fredholm said ...

Bloomberg The US merchandise-trade deficit narrowed for first time this year as the value of exports surged to a record and imports fell from an all-time high. The deficit shrinks to $85.2 billion from $90.6 billion in March, according to Commerce Department data. The median estimate in Bloomberg survey of economists had called for a $92 billion shortfall last month. ...

ABU DHABI / WAM Under the patronage and in the presence of HH Sheikh Theyab bin Mohamed bin Zayed Al Nahyan, Chairman of Abu Dhabi Crown Prince’s Court and Chairman of the Abu Dhabi Early Childhood Authority (ECA), the authority has launched the Parent-Friendly Label (PFL), a new initiative that aims at promoting a parent-friendly workplace culture in Abu Dhabi. ...

Abu Dhabi / WAM Statistics Centre – Abu Dhabi (Scad) and the Abu Dhabi Investment Office (ADIO) on Sunday signed a Service-Level Agreement (SLA) to cooperate on exchanging data, promoting statistical collaboration, and building foundations for joint action. The partnership is aimed at achieving integration and supporting Abu Dhabi Government’s pursuits to build a comprehensive and sustainable statistical system that ...

NEW YORK / ABU DHABI / WAM Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation, and Omar Ghobash, Assistant Minister for Public and Cultural Diplomacy, have met virtually with members of the Group of Latin American and Caribbean Countries (Grulac) at the United Nations, to introduce the UAE candidacy for a non-permanent seat on the UN Security ...

Bloomberg Chinese food-delivery giant Meituan is working to address regulators’ concerns about its business, changing practices that sparked an antitrust probe while promising better treatment for its millions of drivers and restaurants. The Beijing-based company has set up a dedicated team to work with officials conducting the investigation and vowed strict compliance with new guidelines. It’s also providing insurance for ...

Bloomberg A decision by the US to ban imports of seafood from Dalian Ocean Fishing Co is based on “lies” that the Chinese company used forced labour, according to the Communist Party-backed Global Times. The paper cited experts who said the US is widening its move against Chinese industries after allegations of forced labour by companies in the Xinjiang region. ...

Abu Dhabi / WAM The Federal Tax Authority (FTA), confirmed that Cabinet Decision No. 49 of 2021 on amending some provisions of the Administrative Penalties for Violation of Tax Laws in the UAE, is designed to support tax registrants and help them fulfill their tax obligations, thereby enhancing the state’s competitiveness in the field of conducting business. In a press ...