European Union countries could call on Monday for a global phasing out of polluting coal power and an end to fossil fuel subsidies as the bloc makes climate change a central part of its foreign policy, according to a draft document seen by Reuters.
Britain’s government will extend by a month its costly coronavirus wage subsidies to ensure workers who are temporarily laid off receive 80% of their pay, Prime Minister Boris Johnson said on Saturday as he announced a new England-wide lockdown.
The transitional government in Sudan is planning a set of economic and political reforms, including removing fuel subsidies gradually in 2020, Reuters reported, citing Finance Minster Ibrahim Elbadawi.
A World Trade Organization panel ruled that the European Union has not complied with an order to end illegal subsidies for plane maker Airbus, which prompted the Trump administration to impose tariffs on nearly $7.5 billion US worth of EU goods in October.
Angola and the International Monetary Fund have agreed that the oil producer won’t scrap fuel subsidies before a new cash-transfer program is in place to protect vulnerable households from the impact of higher prices.
Egypt will remove subsidies on most energy products by June 15, it told the International Monetary Fund in a January letter released by the IMF on Saturday as part of a review of Cairo’s three-year, $12 billion loan program with the lender.
China is considering a further reduction in electric-vehicle subsidies next year as the government pushes automakers to innovate rather than rely on fiscal policy to spur demand for alternative-energy cars, people familiar with the plan said.
Poor countries are feeling “the boot of climate change on their neck”, the president of the World Bank has said, as he called for a carbon tax and the immediate scrapping of subsidies for fossil fuels to hold back global warming.
Since the Iranian legislature has required that the government discontinue monthly cash subsidies to the affluent, the administration might have to check the bank accounts to identify the rich whose allowances must be eliminated.