EVIAN: Leaders of the Group of Seven (G7) have pledged to strengthen Ukraine’s air defences and intensify economic pressure on Russia, including new sanctions targeting its oil and gas sector, according to a joint statement issued at the end of their summit in France. The statement reaffirmed what leaders described as their “unwavering support” for […]
G7
Australia, India invited to G7 meeting on critical minerals: US Treasury
WASHINGTON: Australia, India, and several other countries have been invited to a G7 finance ministers’ meeting on critical minerals, US Treasury Secretary Scott Bessent said, amid growing Western efforts to reduce dependence on China for rare earths and other strategic resources. Read More: Modi unlikely to attend G7 summit in Canada amid ongoing diplomatic tension The […]
Trump’s Tariff Threats Overshadow IMF
WASHINGTON– Finance ministers and central bankers gathering in Washington this week for the IMF and World Bank annual meetings are facing renewed global uncertainty after Donald Trump reignited the US-China trade war, threatening 100% tariffs on Chinese imports. The move has rattled markets and overshadowed what was expected to be a week focused on the […]
Johnson warns Macron off settling Ukraine war ‘now’
GERMANY: British Prime Minister Boris Johnson and French President Emmanuel Macron said on Sunday that they saw an “opportunity to turn the tide” in Ukraine, as London warned against trying to “settle” the conflict now. A Downing Street spokesman said the leaders, meeting at the G7 summit in Germany, “agreed this is a critical moment […]
G7 leaders to hold video conference with Zelensky on Sunday
Berlin: Leaders of the world’s top industrialised nations will hold video talks with Ukrainian President Volodymyr Zelensky on Sunday, a spokeswoman for the German government as acting G7 chair said. “The German chancellor (Olaf Scholz) will hold the third video conference since the start of the year with his G7 partners,” Christiane Hoffmann told reporters […]
Seismic’ tax policy reforms announced by G7 face aftershocks, says ACCA
New tax policies announced recently by G7 communiqué will face hurdles as the proposals are yet to be agreed by the G20 and other jurisdictions, says ACCA today, asserting that the three foundations for a sound tax system are simplicity, certainty and stability. Jason Piper, head of tax and business law at ACCA says: ‘Committing […]
G7 pandemic pledges not nearly enough: global health leaders
The G7’s vow to share a billion Covid vaccine doses with poorer nations is too little too late, according to the WHO and global health leaders, as experts warned Monday more than 11 billion shots are needed. Faced with outrage over disparities in access to jabs, the Group of Seven industrialised powers pledged during a […]
G7 adopts global infrastructure plan in riposte to China
G7 leaders on Saturday adopted a rival plan to oppose China’s Belt and Road Initiative by helping build infrastructure in poorer nations in a “values-driven, high-standard and transparent” partnership. The adoption of the US-inspired “Build Back Better World” (B3W) project came after President Joe Biden and leaders met to address “strategic competition with China and […]
UK hails G7 declaration on preventing future pandemics
British Prime Minister Boris Johnson on Saturday acclaimed a “historic” action plan by G7 nations to prevent future pandemics, after Covid-19 wrecked economies and claimed millions of lives around the world. The “Carbis Bay Declaration” — named after the seaside town in Cornwall, southwest England, where world leaders are currently holding their summit — comprises […]
G7 leaders target one billion jabs and climate drive
G7 leaders gathered Friday for their first in-person talks in nearly two years, with an expected pledge to donate one billion Covid vaccine doses to poor countries on the agenda in a show of Western democratic cohesion. The club of leading economies — Britain, Canada, France, Germany, Italy, Japan and United States — say a […]