Runaway inflation, an unfolding debt crisis, and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen in several decades, prompting a third of G20 countries to identify rising prices as their…
Xi, Putin to Attend November G-20 Summit in Bali: Indonesian President’s Adviser
Chinese and Russian leaders Xi Jinping and Vladimir Putin will attend November’s Group of Twenty (G-20) summit on the resort island of Bali, a longtime adviser to the Indonesian president said on Friday. Andi Widjajanto, former cabinet secretary and unofficial adviser to President Joko Widodo, who is known as Jokowi, told Reuters the two leaders…
Russia’s Lavrov Walks out of G-20 as West Denounces Ukraine War
NUSA DUA, Indonesia—Group of Twenty (G-20) foreign ministers called for an end to the war and grain blockade in Ukraine on Friday, as Russia’s top diplomat walked out of a meeting and denounced the West for “frenzied criticism” and squandering a chance to tackle global economic problems. Russia’s invasion of Ukraine and its impact on…
Freeland Says Russia Should Be Booted From G20, but No Movement Yet
Finance Minister Chrystia Freeland says Russia should be booted from an international forum to manage global economic concerns. Freeland says removing Russia from the G20 was a key topic of discussion during meetings this week of finance ministers and central bankers from the group of nations. She says Russia doesn’t have a place at the…
China Disagrees With US on Russia’s Exclusion From G20
U.S. President Joe Biden said, after attending an emergency NATO summit on March 25, that he believes Russia should be expelled from the G20 due to its invasion of Ukraine, and that he has discussed this issue with some nation leaders. China said it would back Russia staying in the G20. Poland said on March…
G20 Summit Kicks Off With Ukraine Warning: Crisis Threatens Economic Recovery, World Peace
Finance ministers and central bank governors of the G20 group of nations kicked off a two-day meeting on Feb. 17 with a stark warning that the Russia–Ukraine tensions pose a threat to the post-pandemic economic recovery and to world peace. The Group of 20 meeting is being held in Jakarta, the capital of Indonesia, with…
Yellen to Participate Remotely in February G20 Meeting
WASHINGTON—U.S. Treasury Secretary Janet Yellen will participate in a February meeting of the G20 remotely because of a rise in the Omicron variant of the coronavirus, the U.S. Treasury Department said in a statement. The secretary will attend virtual sessions with her counterparts as well as hold bilateral meetings to discuss the world economy, taxation…
COP26: Trudeau’s Heightened Climate Demands on Oil & Gas Sparks Criticism Back Home
Trudeau increased the pressure on Canada’s energy sector with talk of a hard cap
Experts Fear Biden’s Global Minimum 15 Percent Tax Rate on Big Corporations Could Harm Small Businesses
Experts are concerned that President Joe Biden’s new global minimum tax rate of 15 percent on large multinational business will harm the small businesses that support them. Treasury Secretary Janet Yellen confirmed on Saturday that leaders of the world’s 20 biggest economies (G-20) have endorsed the “historic agreement” on new international tax rules, including a global…
Biden: Pushing OPEC to Boost Oil Output ‘Not at All Inconsistent’ With Climate Goals
President Joe Biden said on Sunday that it was “not at all inconsistent” for him to push energy-producing countries to ramp up production of fossil fuels while also urging others to lower emissions in line with his climate goals. Speaking at a press briefing following days of negotiations in Rome between leaders of the Group…
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