Relations between the UK and community clubs after divorce, in principle, are set for March 30, are still unknown. Despite their doubts, Brussels warns early on that there is a risk: that couples who are still the focus of unfair practices when they no longer comply with EU rules Spain has tried to limit this possibility in Gibraltar with an international agreement signed on Monday by the Spanish Foreign Minister, Josep Borrell, and the British Presidential Minister in charge of Brexit, David Lidington. Foreign sources have explained to EL PAÍS the main lines of this document.
The Government believes that the scheme will be implemented as soon as possible and within the framework of the UK withdrawal (with or without agreement). It must be approved by Congress because it is an international agreement. London has so far refused to make concessions in this area, but Brexit’s concern that it will leave its colony isolated from community clubs has served as an incentive to forge an alliance with Spain. In this context, the four memorandums signed last November between London and Madrid were also framed to soften the main dispute related to Rock (among them, the price of tobacco, which agreed to raise Gibraltar to limit smuggling).
The tax agreement establishes an objective scale to determine who is a tax resident in Gibraltar and who is not. Citizens who spend more than 183 days a year, have their spouse with a place to live in Spain, have a habitual residence or have two-thirds of their assets in Spanish territory must pay taxes to the Spanish Ministry of Finance. The rule affects those currently considered tax residents in Gibraltar.
The source consulted ensured that this type of deviation was, for the time being, not so large, but they warned that, without commitment between London and Madrid, they could grow after Brexit. “We have removed all incentives for residents of Spain who want to build their business in Gibraltar. We protect ourselves for the future, “predicted sources consulted.
More relevant than people chapter is that of a company. Spanish authorities calculate that there are around 55,000 companies based in this small region of 30,000 people, close to one of the poorest areas in Spain, Campo de Gibraltar. If the British colony were a country, it would be the third region with the highest GDP per capita in the world. And unemployment is 1%, compared to 35% for La Línea de la Concepcion.
Focus on the company
With this imbalance as the basis, Spain hopes to end unfair practices through a set of criteria for legal entities. These entities will be taxed by Spain when most assets are in Spain, when their income comes from the region, when the people managing it are tax residents in Spain or when most of the rights to capital are exercised by Spain.
For these very strict rules, some exceptions are made to accommodate companies that really have activities outside of Spain. All companies incorporated in Gibraltar before November 16, 2018 and who can demonstrate, among other requirements, that 75% of their income from Gibraltarian activities will escape the norm.
The success of this scheme will depend on the third leg contained in the agreement: the exchange of information. The Gibraltarian Administration will share tax data with the Spanish ones. There will even be several automatic transfers. They will be the ones who influence the data of workers in Gibraltar who live in Spain and vehicles, ships and aircraft registered in Rock. The same thing will apply to Gibraltarians who work in Spain or have assets in this country.
Asked about the pact, a British spokesman referred to a recent statement by Rock’s chief minister, Fabian Picardo: “I am very pleased that we can reach agreement on this historically complex issue.”
El Peñón will no longer be a tax haven if it fulfills what has been agreed
One of the main incentives to start the United Kingdom in these negotiations is to improve the reputation Gibraltar will get if the agreement is fulfilled. Spain was determined to remove the Stone from the list of tax sites when it discovered that the British colony adopted the provisions of this agreement. Initially, it was proposed that this commitment be included in the wording of the agreement. In the end the text has run out of references to that future.
However, sources consulted at the Ministry of Foreign Affairs guarantee that this is the goal and that several declarations, without binding value, might be made, reflecting the new situation.
Foreign authorities reject the name adopted by Spain and provide examples of information exchange agreements that they have signed with other EU countries, including Germany, France and Italy. Community clubs do not refer to Gibraltar as a tax haven (Brussels has so far tried to remain neutral in litigation involving two Member States).
To guarantee future information exchange and to prevent fraudsters, Spain has been inspired by the French-owned model with Monaco. Foreign negotiators have used this French scheme as a basis, which they consider very secure, and have tightened it in the case of Gibraltar, according to their interpretation.
El Peñón has a very attractive tax for the company and capital. Corporate tax has a maximum rate of 10% of company profits, compared to the general 25% in Spain.
LAHORE: The idea that the elite is pushing for lockdown in Pakistan disregards the fact, because lockdown is imposed to protect the poor from the capture of the corona virus. Elites have the means to protect themselves and treat workers as fodder. Elite pressure is the opposite.
A few decades ago, Dr. Ishrat Hussain stated that Pakistan is an elitist economy and even today. Strong entrepreneurs are members of trade associations who advise the government on economic policies.
These elite members never liked closure, because it literally closed their business. They never worry about the health or safety of their workers.
In fact, even under normal circumstances workers on the factory floor mostly operate in inhuman conditions especially during the summer and humid weather. The sponsor or business owner never visits the factory floor directly, but monitors the process from their post office through technology.
Workers do not have adequate sanitation facilities, safety equipment and most work is well below the minimum wage. The export industry are a few exceptions which are forced to meet the welfare of workers by international buyers through stringent audits.
There is no dearth of workers in this country. If there are workers who are disabled due to an accident or in poor health, there are 10 workers waiting to replace them immediately.
Workers are animal feed which keeps the wheels of the manufacturer running with their living and safety costs. This is the reason that all trade associations oppose locking.
The owners know that they can take appropriate steps to avoid contracting the disease. Most of them will never give their workers the cheapest protection equipment such as gloves, masks, and sanitizers.
They will not bother to ensure social distance. This is evident from the operations of several industries and trade that are not locked.
The reason why the elite do not support lockdown is because they are afraid that the state will force them to bear workers’ salaries when locked up. So it’s better if they run their business and generate income for their expenses and workers’ salaries.
This is the reason that all elite trade associations have demanded that the government ignore business lockouts. Now that the government has decided to relax the lock on economic activity, we can see all trade agencies gratefully thanking the government for this action.
If we go back to the period just before the pandemic we will find that the manufacturing sector in Pakistan is in dire condition. Almost all large-scale industries recorded negative growth.
The automotive industry is sluggish and it is impossible to continue productivity even if the seller’s industry is permitted to operate. The textile factory also expressed excitement at being allowed to operate normally.
These factories, after the pandemic hit the world, appealed for government assistance on the pretext of delaying exports. Now that the government has facilitated them in various ways, they are ready to continue their activities.
Has the pending order been restored? Have they thrown away the large unsold stock that they claim has lied with them?
Normalcy has not returned worldwide and continuing export of goods produced by Pakistan will not be their priority. Every economy looks for food and health gadgets.
Most manufacturing facilities will remain closed until they find a market for the disposal of their manufactured goods (both in the domestic and export markets).
The state must have the courage to recognize that locking is not enforced by the elite. Some might support it to get concessions from the countries they get.
The lockout was planned by the relevant bureaucracy, health officials and security forces who were truly worried that the situation would get out of control if social distance was not established.
Even today the most severe pandemic faced by health officials, bureaucracy and security forces. That’s because it’s locked that everything is still under control, even though the health system has been fully stretched.
Bureaucratic and security forces are overworked. If there is a surge in coronavirus cases, the three pillars of the war against this pandemic might not be able to overcome it.
The panic created cannot be managed. Asad Umar has warned that one million small and medium-sized businesses have gone bankrupt forever.
According to his estimates, around 18 million workers are likely to lose their jobs due to the virus. Poverty also increased sharply.
Millions of people were allowed to return to work in Italy on Monday because Europe’s longest lockdown began to subside, while countries from Iceland to India took steps to relax the coronavirus restrictions. Businesses, including hairdressers in Greece and restaurants in Lebanon, open their doors under new conditions.
With increasing pressure in many countries for further steps to restart the economy, politicians are also trying to increase funding for VCO-19 vaccine research. There is hope that someone can be available in a few months, but a warning that it can take longer.
Italy, the first European country to be hit by a pandemic and a country with one of the highest death tolls in the world, began to move after the closing two months. In all, 4.4 million Italians can return to work, and restrictions on movement are reduced.
Traffic in downtown Rome was picked up, construction sites and manufacturing operations resumed, the park reopened and florists returned to the Campo dei Fiori market for the first time since March 11.
“This is something that brings happiness and excitement, and people have been missing it lately,” vendor Stefano Fulvi said. He doesn’t expect to break even in the near future, “but you have to take risks at some point.”
But the freedom of newly discovered Europeans was limited because officials feared it would trigger a second wave of infections.
In Italy, mourners can attend the funeral, but services are limited to 15 people and there is still no word on when the Mass will continue. The restaurant scrubbed their floors in preparation for take-out service, but the service sat a few more weeks.
Southern Italy prepares for the return of students and workers trapped in the north who were hit hard when the lockout was put in place. Some regional governors said they would ask anyone who arrived home to be quarantined for two weeks.
“This is a new page that we must write together, with trust and responsibility,” Prime Minister Giuseppe Conte said in his message to the Italians.
Belgium allows several companies to open offices for employees, although remote work is still recommended. Like the Italians, Greeks, Spaniards and many others in Europe, Belgians were told to wear masks on public transportation.
The Italians still have to carry a certification that explains why they left. Greece, which began lifting locks seven weeks on Monday, dropped the same conditions for people to send text messages or bring written permission that justifies being outside the room.
Greek hair salons and shops such as those that sell books and sporting goods are reopened, with strict hygiene and measures to keep their distance.
Athena hairdresser Konstantina Harisiadi has installed a plastic glass barrier in the reception and at the manicure station. The new sign, “Silence is security,” is intended to prevent chatter and limit the potential for virus transmission. On the first day of its opening, all of his clients wore masks.
Harisiadi was ordered through the end of the month but, being forced to operate with clients was far less than usual, meeting the needs would be a struggle.
“We will try our best,” he said, adding that he did not want to use any method of firing staff. “As a small family business owner, I will avoid it. And with my colleagues, I will find a solution to be managed.”
But he also regrets the way the atmosphere will change.
“Everything is different. There is no spontaneity – we can’t greet each other, talk, laugh. We are entering a new era, “he said.
People in Spain who were hit hard came out for the first time to cut their hair or take food, but many small shops were still closed because the owner worked to meet strict health and hygiene guidelines. The neighbor of Portugal also reduced his containment measures and allowed small shops to open.
At the western tip of Europe, Iceland is also reopening a hair salon – along with high schools, dentists and other businesses – after the country has plagued the virus outbreak.
In the Middle East, Lebanon allows restaurants to open at 30% capacity during the day starting Monday. But many business owners say they will not reopen because they will lose more money if they operate under such restrictions in a faltering economy. Cafes, clubs and bars have been ordered to remain closed until June.
India allows some economic activity to continue after a five week shutdown, even when the rate of infection rises slightly. The locking has slowed the spread of the virus but has caused great difficulties for the poor people of India.
An estimated 1.5 million South Africans return to work after five weeks in captivity. Certain mining, manufacturing and retail sectors are reopening with up to 30% of their workforce. Private trains, buses and minibus taxis are back operating with lower occupancy rates, and all South Africans must wear masks in public.
Russia reports a steady increase in infections, fueling fears the country’s hospitals will be overwhelmed. Authorities say that wider testing has contributed to the surge. Russia’s economy has been partially closed since the end of March, and lockdowns have been extended until May 11.
Governments around the world have reported 3.5 million infections and more than 247,000 deaths, including more than 67,000 deaths in the United States, according to a count by Johns Hopkins University. Deliberately concealed outbreaks, low testing rates and severe pressure of the disease on the health care system mean that the true scale of the pandemic is undoubtedly much larger.
Developing a vaccine will be the key to returning to everyday life that is not too restricted. On Monday, an alliance of world leaders held a virtual summit in hopes of raising about 4 billion euros ($ 4.37 billion) for vaccine research, around 2 billion euros for treatment and 1.5 billion euros for testing. Officials say that number is only the beginning.
Leaders of France, Germany, Italy, Norway and top European Union officials said that the money collected would be channeled largely through recognized global health organizations. The EU executive commission hopes that the United States will take part, but it is still unclear what role, if any, Washington might play in the donor conference.
The German Minister of Health said there were “promising” developments but warned that developing vaccines was one of the biggest challenges in medicine.
“I would be happy if we succeeded in a few months, but I think we must remain realistic,” Jens Spahn told ARD television on Sunday. “This can also take years, because of course there will be setbacks – we’ve seen it with other vaccines.”
Moulson reports from Berlin. Associated Press reporters around the world contributed to this report.
Follow the AP pandemic coverage at http://apnews.com/VirusOutbreak and https://apnews.com/UnderstandingtheOutbreak
KARACHI: Hub Power Company Limited announced Tuesday its profit had increased by 22 percent to Rs7,389 billion for the quarter ended March 31, 2020, translated into EPS (earnings per share) of Rs5.55.
Electric producers have produced Rs3,288 billion (EPS: Rs2,64) in the same period before.
Analyst at broker Arif Habib said during 3QFY20, Hub Power’s net sales witnessed a 12% YoY decline to Rs11,820 million, due to lower shipments. “Sales also dropped 18% year on year to 9MFY20, for the same reason mentioned above”. Due to lower electricity demand and the availability of relatively cheaper resources (coal and hydel), the fuel load factor of oil-fired generators remains very low, the broker said in his research note.
The report said the electricity company’s gross margin during 3QFY20 increased 19 pps YoY to 63 percent due to 10.5 percent depreciation rupees coupled with a lower load factor.
The company recognized a portion of CPHGC’s earnings of Rs3,807 million (Rs2.93 / share) during 3QFY20, which was the main reason for increasing the company’s profitability, brokers said.
New South Wales will relax the closure of its coronavirus this week to allow people to see their friends. From Friday, a group of two adults – and their children if there are – will be able to visit other households for social gatherings.
The beaches at Waverly Council, including Bondi Beach, have been reopened for locals to swim or surf.
This story is updated regularly throughout Tuesday. You can also stay informed with the latest episodes from Coronacast Podcast.
Tuesday’s main news
Bondi Beach reopened because NSW eases restrictions
It has now been reopened for people living in the Waverly Council area, with rules about the time limit in water and physical distance being enforced.
Seventh resident died in West Sydney nursing home
A seventh resident has died of COVID-19 in an old West Sydney nursing home where one is employees work six shifts even though they exhibit mild viral symptoms.
In a statement, Anglicare Sydney said it was “saddened” by the death of the 89-year-old woman, who happened at Newmarch House in Caddens last night.
The woman’s death was 84th in Australia and 37th in NSW.
The announcement of the death came when NSW Health confirmed five new cases of corona virus, bringing total countries to 3,009.
New Zealand begins to reduce COVID-19 restrictions
New Zealand has moved from level four to level three restrictions, opened several businesses that are not important and continued some health and education activities.
Around 400,000 people will return to work today and New Zealanders will be able to leave fishing, surfing, hunting and hiking for the first time in more than a month because some of the toughest restrictions in the world began to subside.
While shops and restaurants will remain closed, takeaway and delivery services will continue.
But most people will still be asked to stay home at all times and avoid social interaction.
Prime Minister Jacinda Ardern said New Zealand has stopped transmitting COVID-19 from the community.
“We must ensure that we do not let the virus escape again to us,” he said.
“To succeed, we need to hunt down the last few cases of this virus.”
Coronavirus forces postponed the US extradition case against Assange
The litigation is against WikiLeaks founder, Julian Assange will not resume in the UK next month as planned due to the locking of the coronavirus.
The 48-year-old man is in prison in London where he is fighting extradition to the US where authorities want him to be tried on charges conspiring to hack computer and government espionage.
Assange was dragged from the Ecuadorian embassy in London in April last year after seven years of clashes.
In February, the trial lasted for a week and the case was adjourned until May 18 for another three weeks of contention, but Britain has since imposed restrictions to curb the spread of the corona virus.
“The distant presence of the parties in this case will not be appropriate. Mr. Assange and lawyers on both sides will need to be physically present in the courtroom,” Judge Vanessa Baraitser said.
He delay the case until May 4 when the new date will be fixed.
Three million cases worldwide
More than 3 million cases of COVID-19 have been detected worldwide.
According to figures complied by Johns Hopkins University, almost one third of the cases are in the United States.
The latest 1 million cases have been detected in the past two weeks.
Officials in countries throughout the world believe that the true number of global infections can be higher than has been detected.
More than 207,000 people are known to have died after COVID-19, while nearly 880,000 have recovered.
The UK is investigating possible links between COVID-19 and other diseases
Britain is examining whether there is a link between COVID-19 and inflammatory diseases that seriously affect children, a health official said.
Health Minister Matt Hancock said he was “very worried” reports of children struggling with severe symptoms which might have a link to COVID-19.
“We have known in recent days reports of severe illness in children which may be diseases such as Kawasaki,” said Stephen Powis, national medical director for the UK, saying, referring to the rare syndrome that causes inflammation of the arteries.
The Director General of the World Health Organization, Tedros Adhanom Ghebreyesus, meanwhile, expressed his concern that the coronavirus pandemic had a major impact on children’s vaccination programs.
British citizens can ask politicians for COVID-19 answers
The British government said it would provide the opportunity for the public to ask questions to ministers and health experts during a brief briefing on the corona virus.
Just hours after Prime Minister Boris Johnson promised to give it to the public “maximum possible transparency” for the ministers’ thoughts on steps to facilitate the locking of the coronavirus, the Government called on the public to get involved.
“Coronavirus is the biggest health crisis the British community has ever faced in a generation. We know people throughout the UK are making significant sacrifices every day to stay at home,” said a Johnson spokesman.
Only one question from community members will be chosen every day.
The government says anyone over the age of 18 can ask questions.
Adidas suffered a decrease in sales of 611 million Euros
The sportswear and shoes company Adidas has recorded a sharp decline in first-quarter profit The pandemic forced the closure of 70 percent of its stores.
Net profit from ongoing operations fell 97 percent to 20 million euros ($ 33 million) from 631 million euros in the same period last year.
E-commerce increased when the shutdown was implemented, up 55 percent in March.
“Our results for the first quarter talk about the serious challenges posed by the global outbreak of coronavirus even for healthy companies,” said Adidas CEO Kasper Rorsted.
The company said the pandemic caused so much uncertainty that it could not provide a full-year income outlook.
“Regardless of the current situation, I am confident about the exciting long-term prospects of this industry for Adidas,” Rorsted said in a statement.
“Consumers develop an increased appreciation for well-being. They want to stay fit and healthy through sports.”
Controversy revolves around the French search application
MPs from the ruling party in France accuse their own government of withdrawing votes on the planned corona virus tracking application, saying they have robbed of opportunities to increase privacy concerns.
The government last week bowed to pressure by promising parliamentary debate and voting StopCovid mobile software, which is designed to warn users if they make contact with an infected person.
But over the weekend, Prime Minister Edouard Philippe wrote to the Lower House, saying he wanted to expand the debate scheduled for April 28-29 to cover the entire Government’s strategy to end the locking of the coronavirus virus.
“Marginalizing and removing the debate about digital search shows how illegal it is to use it,” Sacha Houlie, an MP from President Emmanuel Macron’s party, wrote on Twitter.
Government sources defended the decision on Monday (local time), telling Reuters that the government needed to move quickly with its plans. Commentators said the move would avoid a public display of the division in the ruling party over the application.
Some of the French political divisions say the software raises serious problems about state surveillance and privacy. Civil liberties groups have raised similar questions about applications being considered and used throughout the world.
Mystery of Yemen’s 19th COVID
Mystery surrounds how a Yemeni port official – the nation’s only coronavirus – became infected.
Health officials have struggled to identify more than 150 people who met and dealt with a 60-year-old man known only as Saleh in the two weeks before his diagnosis.
“All close contacts are monitored and some show some symptoms but are negative when they are tested,” Ali al-Walidi, head of the national coronavirus committee, said.
This information gap reflects Yemen’s inability to detect, let alone expel, infections that demean much wealthier countries.
The country was split into a center of rival power and its medical infrastructure was destroyed by the war.
Russia counts more cases than China
Russia overtook China in the number of confirmed corona virus cases on Monday when the count rose above 87,000, due to increasing pressure on the Government to consider easing lockout restrictions for businesses to help prop up the chaotic economy.
Russia, the largest country in the world by region, has been locked since President Vladimir Putin announce clost most of the public space on March 25.
These steps will end on April 30 and Putin has not said if he plans to extend them, but the chief safety watchdog said lockdown will continue until May 12.
On Monday, authorities reported 6,198 new cases of coronavirus, bringing the total to 87,147 794 deaths.
Mainland China, where the virus first appeared, reported a total of 82,830 cases on Monday. China is now struggling to increase the number of new cases coming from Russia.