| |
Read More
- An Afghan government ceasefire with the Taliban was extended on 16 june despite a suicide bombing killing at least 26, which marred an otherwise remarkable Eid holiday that has seen militants hugging security forces and civilians in celebration of the unprecedented truce.
- President Ashraf Ghani made the announcement in a rare televised address to the nation, in which he also asked the Taliban to extend their three-day ceasefire, which is due to end Sunday night. So far the group has not responded. "I order the security forces to remain on their defensive positions," Ghani said, adding details of the extension would be released later.
- The government's ceasefire was due to end 19june. Ghani's comments came on the second day of Eid, the Muslim holiday that caps the fasting month of Ramadan. It has been marked by incredible scenes of Taliban fighters greeting, embracing and even praying with security forces, politicians, and civilians across the war-battered country, including on the outskirts of the capital Kabul, in a mass outpouring of emotion over the first nationwide ceasefire since the 2001 US invasion.
- 16 june's attack in Rodat district in the eastern province of Nangarhar was the first major incident of violence since the start of Eid. There was no immediate claim of responsibility for the assault on a crowd celebrating the ceasefire, which provincial governor spokesman Attaullah Khogyani said in a statement killed at least 26 people and over 50 were injured.
- In the contested district of Bati Kot in Nangarhar, Taliban fighters carrying assault weapons and rocket-propelled grenade launchers travelled openly by car and motorbike, waving Afghan and Taliban flags. Afghan forces manning checkpoints offered Eid greetings to the fighters, embracing and posing for photos with the same people they are usually trying to kill. Villagers also flocked around the insurgents, hugging them and happily taking selfies with the fighters as they celebrated Eid.
|
Read More
- Companies and trade groups in the US and China have expressed concern over how the escalating trade spat between the world's two biggest economies could affect operations.
- Beijing retaliated immediately to tariffs on tens of billions in Chinese imports imposed by US President Donald Trump yesterday, igniting a trade war that threatens to cut into the pair's massive bilateral trade potentially harming exporters and US multinationals keen on China's huge market.
- Top among American products hit with duties by China are agricultural exports, with soybeans, sorghum, oranges, pork, poultry and beef included in the USD 34 billion in goods targeted for higher border taxes starting next month.
- Agricultural trader Cargill, the largest US private company, called for dialogue between Beijing and Washington so businesses, farmers and consumers would not be caught up in an all-out trade war. "Trade conflict... will lead to serious consequences for economic growth and job creation and hurt those that are most vulnerable across the globe," said Devry Boughner Vorwerk, a vice president at Cargill.
- A spokeswoman for grain trader Archer Daniels Midland also said bilateral dialogue should be pursued, adding that China "continues to be an important export market for American food and agriculture". The announcements cap months of sometimes fraught shuttle diplomacy between Washington and Beijing, in which Chinese offers to purchase more US goods failed to assuage Trump's grievances over a soaring trade imbalance and the country's industrial development policies.
- Beijing has left the door open to negotiations, even as it matched Washington with tariffs and bellicose rhetoric. "The Donald Trump administration has once again proved inconsistent and precarious," state-run newspaper China Daily said in an editorial Saturday. It added that given the "frequent flip-flopping" in the US, "it is still too early to conclude that a trade war will start".
|
Read More
- Donald Trump told Japan's Prime Minister Shinzo Abe he could ship 25 million Mexicans to his country and make him lose an election one of several odd statements he made at last week's acrimonious G7 meet, The Wall Street Journal reported 15 june.
- The Group of Seven summit gathering of top industrialized democracies finished in disarray after the US president abruptly rejected its joint statement and bitterly attacked Canada's Prime Minister Justin Trudeau.
- Behind the scenes, Trump's counterparts were dismayed by his verbal jabs on topics ranging from trade to terrorism and migration, the WSJ said, quoting European officials who were present. At one point, he described migration as a big problem for Europe and said to Abe: "Shinzo, you don't have this problem, but I can send you 25 million Mexicans and you'll be out of office very soon," creating a sense of irritation in the room, according to an EU official.
- The source added that when the topic turned to Iran and terrorism, Trump took aim at French President Emmanuel Macron, saying: "You must know about this, Emmanuel, because all the terrorists are in Paris."
- On 16 june, Macron's office denied the report, saying: "It's all untrue." European Commission President Jean-Claude Juncker also came under fire and was repeatedly described by Trump as a "brutal killer" in reference to the bloc's antitrust and tax fines against US tech companies that have run into billions of dollars.
- Bitter differences over trade dominated the summit hosted by Canada, with leaders lining up against Trump's threats to impose stiff tariffs on imported steel and aluminum. After rejecting the joint statement, Trump and his top aides assailed Trudeau, accusing him of dishonesty and betrayal.
- Trump on 15 june rejected reports of discord, blaming the "Fake News Media" on Twitter for portraying his G7 participation as negative while posting several photos of himself appearing to get along well with his fellow leaders.
|
Read More
- The Life Insurance Corporation of India, the country's largest insurance company, has received a Rs 2,050-crore service tax notice from the Directorate-General of Goods & Services Tax Intelligence (DGGI).
- Tax officials said the notice was issued by the DGGI's Kolkata zonal office for alleged "suppression of facts with intent to evade payment of service tax" on forfeited policies (policies discontinued because of non-payment of premium). The DGGI notice to LIC was for non-payment of service tax on forfeited policies since July 2012.
- LIC officials admitted getting the DGGI notice "based on tax officials' interpretation of certain provisions of the Finance Act" but added that they had replied to the notice and there was no suppression of facts. "We have already replied to the notice, presenting our side. We have provided, through documents and depositions, every piece of information sought by the DGGI.
- As one of the highest tax-paying and most tax-compliant institutions in the country, we would like to categorically state that, on our part, neither is there any suppression of facts nor any intention to evade tax," the LIC said in an mailed response to TOI
- The Kolkata DGGI notice can become a precedent in an industry that has 23 life insurance companies besides LIC, say GST officials. GST expert Sanjib Kothari said companies could go for adjudication in such cases but felt it would be better to pay the tax after asking for waiver of the penalty and interest portions. "Defaulters may have to pay the entire amount if they opt for adjudication and their plea is dismissed," he said.
|
Read More
- People, including retailers, will be penalized for carrying banned plastic material from June 23 Rs 5,000 on the first occasion and Rs 10,000 the second time. Third-time offenders will be prosecuted.
- Suresh Jagtap, head of the Pune Municipal Corporation (PMC)’s solid waste management department, told TOI, “Citizens got an exemption of three months from the ban from the high court. From June 23, the ban will be implemented if the court order on June 22 does not bring in any changes. Besides imposing penalty on people possessing the banned items, we will undertake search operations to check from where the plastic is coming into the garbage bins.”
- The civic body will deploy a team of 120 inspectors in all its wards to check the use of plastic from June 23. Officials stated that citizens or NGOs could inform PMC about the use of plastic in their areas, after which it would send inspectors to the spot to fine the defaulters.
- Jagtap said though PMC was not authorized to conduct searches in houses of citizens, their inspectors would conduct raids in the city’s markets to seal banned plastic items. The defaulters would be penalized subsequently, and a challan would be issued.
- “Establishments like retail shops, clubs, cinemas, theatres, marriage halls, restaurants and malls among others would be under the scanner. Though the retailers and other people were expected to hand over the banned plastic items to the civic body for scientific disposal or recycling. But we have received just around six tonnes of the banned products so far. The rest are expected to be sealed during inspections,” he said.
- He said NGOs, environment groups, mohalla committees and citizens in favour of the ban were roped in to help the civic body in the implementation of the ban.
|
Read More
- India has now submitted a revised list of 30 items including motor cycle, certain iron and steel goods, boric acid and lentils to the WTO on which it proposes to raise customs duty by up to 50 percent.
- As duties hiked by the US on certain steel and aluminium products would have implications of about $241 million on India, the raise in tariffs proposed by New Delhi too would have an equal implication on America.
- Earlier in May, India proposed to raise duties by up to 100 per cent on 20 products such as almonds, apple and specific motorcycles imported from the US. The additional duty proposed to be hiked on these items ranges from 10 per cent to 100 per cent.
- "The revision is being provided to adjust the products and the tariff rates in accordance with India's rights reserved vide its notification to the Council for Trade in Goods contained in the WTO document...of May 18, 2018. "India hereby reiterates its decision to suspend concessions or other obligations notified to the Council for Trade in Goods on May 18, 2018...of the General Agreement on Tariffs and Trade 1994 and Article 8.2 of the Agreement on Safeguards, that are substantially equivalent to the amount of trade affected by the measures imposed by the United States," according to a communication by India to WTO.
- It said that the proposed suspension of concessions or other obligations takes the form of an increase in tariffs on selected products originating in the US, based on the measures of the America.
- "India reserves its right to further suspend substantially equivalent concessions and other obligations based on the trade impact resulting from the application of the measures of the US," it added.
|