Wednesday , April 21 2021

International News

UK seeks consultations on new post-Brexit subsidies system

Bloomberg The UK is launching a consultation on its post-Brexit subsidies system, which the government has hailed as a “significant milestone” in the country’s future outside the European Union (EU). The new UK-wide “subsidy control system” will replace the EU’s state aid regime, which was a major stumbling block in ...

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India’s half-a-trillion dollar budget aims to spur growth

Bloomberg India unveiled a spending plan of almost $500 billion as the government of Prime Minister Narendra Modi seeks to dig Asia’s third-largest economy out of its pandemic-induced slump. His government’s plan relies on taxes, including higher levies on some imports to boost self-reliance, selling state assets and dividend income ...

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Companies mull excluding HK from legal contracts

Bloomberg International companies operating in Asia are considering leaving Hong Kong out of legal contracts amid concerns about China’s growing control, the Financial Times reported, citing people it didn’t identify. Lawyers in the region have received a surge of queries from clients about excluding Hong Kong from governing law and ...

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AIA, China Strategic among bidders for BEA life insurer

Bloomberg Hong Kong insurance giant AIA Group and China Strategic Holdings, an investment firm backed by billionaire Henry Cheng, are among final bidders for Bank of East Asia (BEA)’s life insurance unit, according to people with knowledge of the matter. The companies have submitted binding bids for the asset, proceeding ...

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Virus controls impact China’s holidays, economic recovery

Bloomberg China’s efforts to control a recent resurgence of Covid-19 are undercutting a recovery that’s been one of the bright spots in the global economy. Travel has collapsed ahead of the Lunar New Year holidays after recent lockdowns were imposed in northern China to curb outbreaks and the government took ...

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EU calls $15.8 billion Apple tax ruling ‘contradictory’ in appeal

Bloomberg The European Union (EU) is seeking to overturn Apple Inc.’s victory in a 13 billion-euro ($15.8 billion) tax dispute, saying judges used “contradictory reasoning” when they found that the company’s Irish units weren’t liable for huge payments. A summary of the appeal published on Monday shows the EU’s determination ...

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