G20 Summit LIVE News: World leaders from across the planet, including Prime Minister Narendra Modi, US President Joe Biden, and Chinese President Xi Jinping, have converged in Indonesia, for the 17th Group of 20 (G20) Summit, taking place in the city of Bali. The two-day summit starting Tuesday is themed "Recover Together, Recover Stronger" and focuses on global economic recovery, global health architecture, digital transformation, sustainable energy transition and climate change, among other topics.
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Two-day G20 Summit begins today in Bali
World leaders from across the planet, including Prime Minister Narendra Modi, US President Joe Biden, and Chinese President Xi Jinping, have converged in Indonesia, for the 17th Group of 20 (G20) Summit, taking place in the city of Bali. The two-day summit starting Tuesday is themed "Recover Together, Recover Stronger" and focuses on global economic recovery, global health architecture, digital transformation, sustainable energy transition and climate change, among other topics.
China reports 17,909 new COVID cases for Nov 14 vs 16,203 a day earlier
China reported 17,909 new COVID-19 infections on Nov. 14, of which 1,661 were symptomatic and 16,248 were asymptomatic, the National Health Commission said on Tuesday.
U.S. says six airlines issue $622 mn in refunds
The U.S. Transportation Department said Monday that six airlines were slapped with $7.25 million in penalties and agreed to issue $622 million in passenger refunds as the agency vows to aggressively enforce consumer protections. Transportation Secretary Pete Buttigieg said under the settlements ultra-low-cost carrier Frontier Airlines was required to pay $222 million in refunds and will pay a $2.2 million penalty, while Tata Group-owned Air India will pay $121.5 million in required refunds and a $1.4 million fine.
Pakistan's remittances drop amid widening exchange rate gap
Amid the widening exchange rate gap in the country, overseas Pakistanis sent home USD 2.2 billion in the month of October, a decrease of 9.1 per cent from the preceding month. "In Oct 2022, workers' remittances recorded an inflow of USD 2.2 billion indicating a 9 per cent decrease over last month," the State Bank of Pakistan (SBP) said in a tweet, last week.
Cambodia PM cancels meetings at G20 in Bali after testing positive for Covid-19
Fed's top financial regulator urges 'guardrails' for crypto
The top U.S. banking regulator at the Federal Reserve is urging Congress to pass legislation that would impose regulation on crypto currencies in the wake of the swift collapse last week of FTX, a leading crypto exchange. Michael Barr, the Fed's vice chair for supervision, said in prepared testimony released Monday that “recent events in crypto ... have highlighted the risks to investors and consumers associated with new and novel asset classes and activities when not accompanied by strong guardrails.”
Japan's economy shrinks in third quarter on import costs
Japan's economy shrank in the three months to September, official data showed Tuesday, due to high import costs and weak private consumption despite the end of Covid-19 restrictions. It follows three consecutive quarters of growth, after an initial negative reading in the first quarter was revised upwards.
UK PM announces five new Navy ships, citing Russian threat
Britain will spend £4.2 billion ($4.9 billion) on five new Navy ships to bolster security "in the face of increased Russian threats", Prime Minister Rishi Sunak said Tuesday in a Downing Street statement. "The UK and allies are taking steps to bolster their security in the face of increased Russian threats," the statement said.
EU's Michel: No plan to meet with Russian foreign minister in Bali
European Council President Charles Michel said on Tuesday he had no plan to meet with Russian Foreign Minister Sergei Lavrov on the sidelines of the G20 leaders' summit. "We should try to use the G20 meeting to try to convince all the partners to put more pressure on Russia," Michel told a news conference.
G20 statement to show 'most' members strongly condemn Russia's Ukraine war: US
The G20 will issue an end-of-summit statement in which "most" members will strongly condemn Russia's war against Ukraine, a senior US official said Tuesday in Bali.