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China’s gross domestic product saw a growth of 18.3 per cent year on year in the first three months of 2021, highlighting how the world’s second largest economy has controlled and recovered from the coronavirus pandemic.
The GDP grew by 0.6 per cent when compared with the fourth quarter of 2020 and 10.3 per cent over that in the first quarter of 2019, China’s National Bureau of Statistics said in a statement. The economy grew by 6.5 per cent in the last quarter of 2020.
“Generally speaking, the national economy in the first quarter presented continued momentum of stable recovery,” the National Bureau of Statistics said. “However, we must be aware that the Covid-19 epidemic is still spreading globally and the international landscape is complicated with high uncertainties and instabilities.”
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The UAE Cabinet s decision to extend taxpayers deadline to appeal for a waiver or reduction in penalties imposed by the Federal Tax Authority is a reprieve for businesses, according to tax experts.
Earlier procedures provided only 10 business days for a taxpayer to make an application for waiver to an FTA committee. This provision has now been modified to allow taxpayers 40 business days to submit their exemption or waiver request.
This was a much-awaited change because 10 business days is not sufficient to prepare the application for waiver/exemption citing proper facts, grounds of appeal, supporting provisions and historical records
Anurag Chaturvedi, managing partner, Chartered House Tax Consultancy
“The renewal of our partnership comes at a time when the world is facing unprecedented socio-economic challenges caused by the Covid-19 pandemic,” Mr Hajjar said.
The IFAD is a specialised agency of the United Nations that works to address poverty and hunger in rural areas of developing countries, while the IsDB is a multilateral development finance institution that is focused on Islamic finance.
The coronavirus pandemic has forced governments around the world to consider ways of re-building more sustainable economies and use the crisis as an opportunity to better tackle climate change challenges.
Countries must take action on climate change now to avert future disasters, accelerate the push for greener economies and boost the economic recovery from the Covid-19 pandemic, the International Monetary Fund’s managing director Kristalina Georgieva said.
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Africa grows most of the world’s raw cashews but only processes a fraction of them, missing out on opportunities offered by rising global demand, according to a report by the United Nations Conference on Trade and Development.
The global market for cashews is booming, but the African countries growing more than half the world’s supply aren’t cashing in due to their lack of processing industries, the UNCTAD report titled
“Countries that grow cashews but don’t process them at a significant scale retain only a small share of the value created as the nut travels from the farm to store,” Miho Shirotori, who leads UNCTAD’s work on trade negotiations and commercial diplomacy, said. “African farmers, exporters and workers are missing out on a wealth of opportunities.”