The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax of at least 15% to deter multinational companies from avoiding taxes by stashing profits in low-rate countries. G-7 finance ministers meeting in London also endorsed proposals to make the world’s biggest companies – including U.S.-based tech giants – pay taxes in countries where they have lots of sales but no physical headquarters.
At least 30 people have been killed after two express trains collided in southern Pakistan. Rescuers and villagers have been working to pull injured people and bodies from the wreckage, and as many as 20 passengers are feared to be trapped. Railway officials said about 1,100 people were on board the two trains when they crashed before dawn on Monday in Ghotki, a district in Sindh province.
Major Indian states that have been virus hotpots are easing restrictions as Covid case numbers continue to fall. National capital Delhi and financial hub, Mumbai, are among the cities that are opening partially. This comes in the wake of a crushing second wave that saw hospital beds, medicines and even oxygen run short as cases spiked and deaths rose.
Russian President Vladimir Putin signed a law on Monday that formalizes Russia’s exit from the Open Skies arms control treaty, a pact that allows unarmed surveillance flights over member countries. Russia had hoped that Putin and U.S. President Joe Biden could discuss the treaty when they meet later this month at a summit in Geneva. But the Biden administration informed Moscow that it would not re-enter the pact.
The Delta variant of the coronavirus is estimated to be 40 percent more transmissible than the Alpha variant that caused the previous wave of infections in the United Kingdom, Britain’s health minister has said. People who have received two doses of a coronavirus vaccine should be equally protected against either variant, he added. The Delta variant, which was first detected in India, is now the dominant strain in the UK, according to Public Health England figures.