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World

Thursday, July 16, 2020

IMF did not recommend Saudi Arabia VAT tripling, official says
Middle East

IMF did not recommend Saudi Arabia VAT tripling, official says

  • Saudi Arabia tripled VAT this month to 15% as it seeks to bolster state finances badly hurt by a drop in oil prices.
  • It's not wise at this stage to increase tax on consumption, especially in countries where the level of income is low, because this will create additional regression and additional pressure.
Published 16 Jul, 2020 08:32pm
Zimbabwe economy to shrink by 4.5pc this year on COVID-19, drought
Currency

Zimbabwe economy to shrink by 4.5pc this year on COVID-19, drought

  • Ncube added that inflation was expected to gradually decline to 300% by December, compared with 737.36% currently.
  • Exports, however, seemed to remain resilient, despite the COVID-19 shock, declining only slightly to $1.53 billion in first five months of this year against $1.56 billion in the same period of last year.
Published 16 Jul, 2020 08:15pm
Shelling between Azerbaijan and Armenia ends brief ceasefire
South Asia

Shelling between Azerbaijan and Armenia ends brief ceasefire

  • The Azeri defence ministry said one of its soldiers died, while Armenia's defence ministry said a civilian was wounded in Chinari village from an Azeri drone strike.
  • International concern is heightened because of the threat to stability in a region serving as a corridor for pipelines taking oil and gas from the Caspian Sea to global markets.
Published 16 Jul, 2020 07:53pm
Russia trying to hack and steal COVID-19 vaccine data, says Britain
World

Russia trying to hack and steal COVID-19 vaccine data, says Britain

  • We condemn these despicable attacks against those doing vital work to combat the coronavirus pandemic.
  • While others pursue their selfish interests with reckless behaviour, the UK and its allies are getting on with the hard work of finding a vaccine and protecting global health.
Published 16 Jul, 2020 06:41pm
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