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EU countries mull call for global coal power phaseout, end to fossil fuel subsidies: Draft
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.
UK extends 80% wage subsidies as England goes back into lockdown
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.
Sudan to lift fuel subsidies in 2020, increase wages
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.
WTO ruling says EU has failed to end illegal Airbus subsidies
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 will only scrap subsidies when cash transfers are ready
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 to slash fuel subsidies as it nears end of IMF program
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 weighs further cuts in electric-car subsidies
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.
Cost of bread doubles in Jordan as subsidies lifted
Jordan on Saturday increased the price of bread by up to 100 percent after lifting subsidies on the staple in a bid to redress its debt-riddled economy.
Insurers call on G20 to phase out fossil fuel subsidies by 2020
Insurers with $1.2 trillion under management called for the Group of 20 to set a timetable to phase out subsidies for fossil fuels by 2020 when they meet at a summit in China this weekend.
US removes subsidies from F-16 deal with Pakistan
The United States has backed away from financing Pakistan’s purchase of US F-16 fighter jets, saying Islamabad needs to pay for the warplanes itself following objections by members of the US Congress.
Saudi Arabia posts record $98b deficit, cuts fuel subsidies
Saudi Arabia announced a record budget deficit and cuts to fuel and utility subsidies as the oil powerhouse suffers from a drastic fall in global crude prices.
Eliminating cash subsidies essential
By Asadollah Asgaroladi
World Bank: Scrap fossil fuel subsidies
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.

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