) headquarters is pictured in Paris, France.... OECD Secretary General Mathias Cormann welcomed the

PARIS: A total of 130 countries have agreed a global tax reform ensuring that multinationals pay their fair share wherever they operate, the OECD said on Thursday, but some EU states refused to sign up. The Organisation for Economic Co-operation and Development said in a statement that global companies, including US behemoths Google, Amazon, Facebook, and Apple would be taxed at a rate of at least 15 percent once the deal is implemented. The new tax regime is to add some$ 150 billion to governme

Britain's Prince Charles, left, is greeted by Italian President Sergio Mattarella as he arrives to attend a reception and dinner at the Quirinale presidential Palace in Rome, Saturday, Oct.... The move by the Group of 20 summit in Rome was hailed by U.S. Treasury Secretary Janet L. Yellen as benefiting American businesses and workers.... Yellen predicted in a statement that the deal on new international tax rules, with a minimum global tax," will end the damaging race to the bottom on corporat

“ This slowdown is directly attributable to Russia’s unprovoked and unjustifiable war of aggression, which is causing lower real incomes, lower growth and fewer job opportunities worldwide.” The euro area economy is expected to expand by just 1.6 per cent and the US by 1.2 per cent.... “ I really think we have a problem for the next six months？... once it gets to these parabolic states, markets can move and they can spike quite a lot.”....

The US President is pushing for a 15 percent rate as part of a plan to crack down on tax avoidance by multinational companies.... Initially, Mr Biden was aiming for a 21 percent rate.... One Biden administration official said the plan was an “ important moment to demonstrate the United States and democracies can deliver for the people ”....

TOKYO: The Bank of Japan should gradually raise short-term interest rates and make its bond yield control policy more flexible, if inflation stays around its 2% target and is accompanied by sustained wage growth, the OECD said on Thursday. While the BOJ made tweaks to its yield curve control( YCC) last year to loosen its tight grip on long-term interest rates, markets could challenge the policy again if inflation remains above its 2% target and global yields go up, it said. The central bank shou

Plans to force multinational companies to pay fairer tax by setting a global minimum have taken a step forward with the backing of 130 countries and jurisdictions, the Organisation for Economic Cooperation and Development announced on Thursday.... Collectively, countries that have agreed to the plan represent more than 90 per cent of the world’s GDP.... “ Today is an historic day for economic diplomacy, ” treasury secretary Janet Yellen said in a statement.“ For decades, the United States has