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Bloomberg The US called for a global minimum corporate tax of at least 15%, less than the 21% rate it has proposed for the overseas earnings of US businesses — a level that some nations had argued was excessive. The contrast between the new proposal, released by Treasury Department, and higher rate the Biden administration is seeking to be applied ...

Bloomberg Germany will impose fresh restrictions on travelers from the UK due to the rapid spread in Britain of the coronavirus strain first identified in India. Travelers from the UK will have to spend two weeks in quarantine upon arrival in Germany even if they test negative for the virus, according to the foreign ministry. In addition, transport companies will ...

Bloomberg The euro area’s economic recovery is increasingly being supported by a rebound in services as factories confront a supply squeeze that is pushing up costs. Surveys of purchasing managers by IHS Markit show the 19-nation region emerging from the pandemic crisis as infections drop and the lockdowns that dragged the bloc into a double-dip recession are eased. Service-sector businesses, ...

Bloomberg The UK economy is firing on all cylinders as it emerges from months of lockdown, with the private sector expanding at the fastest pace in at least 23 years and retail sales surging. IHS Markit said that its measure of private-sector growth this month hit the highest since the index began in 1998, with hotels, restaurants and other consumer-facing ...

Dubai / WAM Mohammad bin Abdullah Al Gergawi, Minister of Cabinet Affairs, has emphasised the UAE leadership’s keenness on enhancing cooperation and strategic partnerships to modernise government work with Arab and international governments, expand horizons for sharing experiences, success stories, and knowledge exchange aimed at raising levels of efficiency and government performance and improving living standards of societies. Al Gergawi ...

Sharjah / WAM Sheikha Bodour Al Qasimi, Founder and CEO of Kalimat Group (KG) and President of International Publishers Association (IPA), has launched her latest work in children’s literature, World Book Capital, at the 12th edition of the Sharjah Children’s Reading Festival (SCRF). Published simultaneously in Arabic and English by Kalimat Publishing, an imprint of the Kalimat Group that specialises ...

Dubai / WAM The Dubai’s Roads and Transport Authority (RTA) announced that the Dubai Investment Park Station and Expo 2020 Station on Route 2020 of the Dubai Metro, which runs from Al Rashidiya Station on the Red Line to Expo 2020 Station, would be opened on June 1. The opening of the two new stations comes six months after the ...

Bloomberg The first handful of trades in the UK’s new carbon market indicates that polluting will be more expensive for everyone from power plants to factories than it is under the European scheme. The launch of the UK’s own carbon system is a replacement for the country’s participation in a nearly identical EU program that’s been going since 2005. Putting ...

Bloomberg President Joe Biden said he would appoint a special envoy to address issues regarding North Korea and vowed to coordinate policy towards Pyongyang closely with South Korea’s government. Following meetings with South Korean President Moon Jae-in in Washington, Biden said he’s appointing Ambassador Sung Kim to be the special envoy and that the US and South Korea are willing ...

Abu Dhabi / WAM The Khalifa Fund for Enterprise Development (KFED), an independent entity of the government of Abu Dhabi mandated to develop and support the Small and medium-sized enterprises (SMEs) sector, launched the Abu Dhabi SME Hub, a new knowledge platform dedicated to supporting SMEs and startups in the UAE. Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi ...