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Reuters
05-05-2025
- Business
- Reuters
Israel debates 80% tax on foreign donations to NGOs
JERUSALEM, May 5 (Reuters) - An Israeli parliamentary committee on Monday began debate on a law that would impose an 80% tax on non-government organisations that receive the majority of their funding from foreign entities in a bid to reduce foreign influence on the state. Under the proposed law, these NGOs would not be able to petition Israeli courts, including the Supreme Court. Israel's finance minister, though, would be able to grant an exemption from the tax. The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. Organisations funded by the Israeli state and those with an annual turnover of below 100,000 shekels ($27,668.64) would be exempted. The debate in the Knesset's Constitution, Law and Justice Committee was at times heated and divided along coalition lines. The panel is preparing the bill for a first reading in the main plenum. "This law will preserve a Jewish state and a democratic regime, and will block improper foreign interference," said Ariel Kallner, the bill's sponsor, during the debate. Kallner noted that between 2012 and 2024, 1.3 billion shekels was transferred from overseas to 83 Israeli organisations, or an average of about 300,000 shekels per day. "These funds are not designated for social, educational, or peripheral development projects, but primarily for influencing Israeli policy through the judicial system, media, and international arena," he said, adding "the future of the State of Israel should be shaped by Israeli citizens, not foreign governments." Opposition lawmakers criticised the proposed law, saying the state was trying to stifle voices, including the media, that don't agree with Israel's policies. Some said that if the government sought to prevent foreign influence, then companies should also be targeted. Adalah, the Legal Center for Arab Minority Rights in Israel, sent a letter signed by nine NGOs to the head of the committee, urging the bill be halted. "This bill is a direct assault on civil society, the rule of law, and the basic constitutional structure of Israel's democracy," the letter said. "It threatens the rights of individuals and communities and seeks to silence legitimate dissent under the guise of sovereignty." ($1 = 3.6136 shekels) ($1 = 3.6142 shekels) Reporting by Steven Scheer Additional reporting by Nuha Sharaf; Editing by Sharon Singleton Our Standards: The Thomson Reuters Trust Principles., opens new tab
Reuters
02-05-2025
- Sport
- Reuters
Reports: Rangers zero in on Mike Sullivan as next head coach
May 2 - Mike Sullivan, who led the Pittsburgh Penguins to back-to-back Stanley Cup titles in the 2015-16 and 2016-17 seasons, is deep into contract negotiations to become the next head coach of the New York Rangers, according to multiple media reports on Thursday. The Penguins parted ways with the 10-year coach on April 28, nine days after the Rangers dismissed coach Peter Laviolette. Both teams missed the playoffs as the postseason drought for the Penguins reached three consecutive campaigns. The Rangers, a preseason favorite in the Eastern Conference, missed the playoffs for the first time since the 2020-21 season. Their next coach will be the 38th in franchise history. Sullivan spent four seasons (2009-13) as an assistant coach for the Rangers, serving under John Tortorella. The two could work together again, as Tortorella left his post as coach of the Philadelphia Flyers late this season. The duo served on the staff of Team USA in the recent 4 Nations Face-Off. Sullivan, a Marshfield, Mass., native, served as the head coach of the Boston Bruins for the 2003-04 and 2005-06 seasons and was hired by the Penguins midway through the 2015-16 season. His first two squads in Pittsburgh finished second in the Metropolitan Division, but went on to capture the Stanley Cup each time, defeating the San Jose Sharks and Nashville Predators, respectively. Sullivan is 21 wins shy of 500 in his 12-year career, with a mark of 479-311-112. He is the winningest coach in Penguins' history with 409. --Field Level Media Our Standards: The Thomson Reuters Trust Principles., opens new tab
Reuters
26-04-2025
- Business
- Reuters
India urging firms to acquire overseas iron ore, coking coal assets, official says
Labourers load coal onto a supply truck on the outskirts of Jammu April 6, 2017. REUTERS/Mukesh Gupta/File Photo Purchase Licensing Rights, opens new tab MUMBAI, April 26 (Reuters) - India is encouraging companies to acquire iron ore, coking coal, and other key raw material assets overseas, Steel Secretary Sandeep Poundrik said on Saturday, as the country ramps up its steelmaking capacity to meet rising demand. "We are encouraging our companies to acquire assets abroad, right from iron ore to coking coal to even limestone and dolomite," Poundrik said at an industry event in Mumbai. "Raw material securitisation is the most important aspect of steelmaking." The Reuters Tariff Watch newsletter is your daily guide to the latest global trade and tariff news. Sign up here. India, the world's second-largest producer of crude steel, aims to boost its overall steelmaking capacity to 300 million tons by 2030, up from about 200 million tons currently. To support this expansion, coking coal imports are projected to rise to 160 million tons by 2030 from around 58 million tons now, Poundrik had projected on Friday. Despite an uptick in steel output, India's coking coal imports dipped 0.7% in the fiscal year ended in March due to lower shipments from Australia and the United States, said commodities consultancy BigMint. India relies on imports to meet 85% of its coking coal needs, with Australia supplying more than half of those shipments. In a bid to diversify supply, India has also been exploring partnerships with Mongolia. However, logistical challenges remain in sourcing material from the landlocked country, Poundrik noted. India's state-run miner NMDC ( opens new tab is exploring coking coal assets, in Indonesia and Australia, Chairman Amitava Mukherjee said on Thursday. Our Standards: The Thomson Reuters Trust Principles., opens new tab Neha Arora Thomson Reuters Neha reports on metals and mining in India. In her time at Reuters, she has reported on the pandemic when she was a finalist in the Breaking News of the Year category for Journalists of the Year Awards. She has also reported on India's trade policy, central bank's monetary policy, FX/debt markets, as well as done a brief stint with the desk and edited stories. She is a postgraduate with a diploma in journalism from Mumbai's Xavier Institute of Communications, and a graduate in English literature from University of Delhi.
Reuters
10-04-2025
- Business
- Reuters
Prada's crisis-era Versace deal still looks pricey
LONDON, April 10 (Reuters Breakingviews) - The Italian group paid $1.4 bln for the ailing brand from Michael Kors-owner Capri, less than expected. It helps CEO Andrea Guerra square up to bigger French rivals LVMH or Kering. Even so, the return on investment looks low, even before factoring in a tricky turnaround. Full view will be published shortly. Prada said on April 10 it will buy smaller Italian rival Versace from Capri for 1.25 billion euros, which includes its debt. 'The acquisition of Versace marks another step in the evolutionary journey of our Group, adding a new dimension, different and complementary,' Prada's Chief Executive Officer Andrea Guerra said in a statement. Our Standards: The Thomson Reuters Trust Principles., opens new tab Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Reuters
05-04-2025
- Sport
- Reuters
Maryland hero Derik Queen enters NBA draft
Mar 26, 2025; San Francisco, CA, USA; Maryland Terrapins center Derik Queen (25) shoots the basketball during NCAA Tournament West Regional Practice at Chase Center. Eakin Howard-Imagn Images/File Photo Purchase Licensing Rights, opens new tab April 5 - Maryland big man Derik Queen is saying good-bye to the school after one season and declaring for the NBA draft. The 6-foot-10 Queen made his announcement on ESPN, saying "I'm entering the 2025 NBA Draft." The star freshman from Baltimore averaged 16.5 points and 9.0 rebounds in 36 games for the Terrapins. The first-team All-Big Ten selection is projected to be a lottery pick and could move into the top 10. Queen's ability to handle pressure was on display in the second round of the NCAA Tournament when he made the decisive game-ending bank shot in a 72-71 victory over Colorado State that vaulted the Terrapins into the Sweet 16. Queen finished his season with 27 points in an 87-71 loss to Florida. Asked for his top memories at Maryland, just one exploit was mentioned. "Of course, the Colorado State shot," Queen said. "Then me and my teammates being around each other all the time, those are my guys and I'm going to miss those moments." --Field Level Media Our Standards: The Thomson Reuters Trust Principles., opens new tab
