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Trade pact with Japan ruled out by Brexit deadline

Trade pact with Japan ruled out by Brexit deadline

Business
By James Sillars, business reporter The government has admitted it has run out of time to roll over existing trade pacts with Japan and Turkey in the event of a no-deal Brexit.A document released on Thursday by the Department for Trade showed it was seeking to continue deals with 40 trading partners currently covered by EU membership, accounting for 11% of all UK trade. But it confirmed that in the case of Japan - whose trade pact with the EU only came into force this month - "it is unlikely that we will reach an agreement prior to exit day". Japan...
US shutdown looms as border talks stall ahead of deadline

US shutdown looms as border talks stall ahead of deadline

World
Media playback is unsupported on your device US congressional talks over a border security deal have stalled raising the chances of another government shutdown.Negotiators were hoping for a deal by Monday to give Congress time to pass legislation by Friday, when the federal funding agreement runs out.They remain divided on how many undocumented immigrants can be detained and funding for President Trump's promised border wall with Mexico.The previous shutdown, lasting 35 days, was the longest in US history. Hundreds of thousands of workers were furloughed while others in essential services, such as hospital care, air traffic control and law enforcement, worked without pay.The cost to the US economy was estimated at $ 11bn (£8.5bn).It was ...
Germany sets 2038 deadline to end coal use

Germany sets 2038 deadline to end coal use

Technology
In a pioneering move, a German government-appointed panel has recommended that Germany stop burning coal to generate electricity by 2038 at the latest, as part of efforts to curb climate change. The Coal Commission reached a deal early Saturday following months of wrangling that were closely watched by other coal-dependent countries. "We made it," Ronald Pofalla, the head of the commission, told reporters in Berlin. "This is a historic effort." Germany gets more than a third of its electricity from burning coal, generating large amounts of greenhouse gases that contribute to global warming. The 28-member panel, representing mining regions, utility companies, scientists and environmentalists, suggests a review in 2032 could bring forward the coal deadline to 2035. The plan foresees billio...
CBDT extends deadline for filing ITRs with audit reports to Oct 31, 2018

CBDT extends deadline for filing ITRs with audit reports to Oct 31, 2018

Finance
NEW DELHI: The government today extended by a fortnight till October 31 the deadline for filing Income Tax return (ITR) and audit report for financial year 2017-18. This is the second extension within a fortnight of the Central Board of Direct Taxes (CBDT), earlier extending the deadline for tax payers whose accounts have to be audited from September 30 to October 15. Tax audit is a review of accounts of taxpayers with business or profession from an income tax point of view such as incomes, deduction, compliance with tax laws, etc. Taxpayers with turnover exceeding Rs 1 crore in business (not opted for presumptive taxation scheme) or whose gross professional income is over Rs 50 lakh need to get a tax audit done. Tax audit report needs to be filed on or before the 30 September of the subse...
UIDAI extends deadline to deploy Virtual ID system to July 1

UIDAI extends deadline to deploy Virtual ID system to July 1

Finance
NEW DELHI: UIDAI has extended by one month to July 1 the deadline for service providers and agencies like banks and telecom companies to fully deploy Virtual ID system and accept these IDs in lieu of Aadhaar number. The Virtual ID (VID) feature is aimed at giving users the option of not sharing their Aadhaar number at the time of authentication. UIDAI - which had earlier said it will be compulsory for all agencies that undertake authentication to accept VID from their users from June 1, 2018 - has decided to give one more month after the user agencies said they needed more time to switch to the new system. "We are ready but the agencies wanted some more time to switch to the VID system. We have, therefore, given one more month till July 1," UIDAI CEO Ajay Bhushan Pandey told PTI. The exten...