Latest news with #bilateralagreement
Wall Street Journal
15-07-2025
- Business
- Wall Street Journal
Canada PM Carney Signals U.S. Tariffs May Be Here to Stay
OTTAWA–Canadian Prime Minister Mark Carney said Tuesday it may not be possible to escape U.S. tariffs even with a bilateral agreement to resolve the current tariff row. 'There is not a lot of evidence right, with regards to negotiations, of any country or jurisdiction' escaping U.S. tariffs, Carney told reporters in French ahead of a cabinet meeting in the capital.
Mail & Guardian
11-07-2025
- Politics
- Mail & Guardian
Somalia celebrates 65th Independence Day
Congrats: SA's Narend Singh, Ambassador Reyad Al-Akbari and Foreign Affairs Minister Abdisalam Abdi Ali. On 3 July, the Embassy of Somalia commemorated its 65th anniversary of independence as well as the inauguration of the new chancery in Pretoria. Back in 1960, on 26 June, the Northern Region gained independence from British rule, and on 1 July of the same year, the Southern Region achieved independence from the Italian colonial administration, culminating in the birth of modern Somalia. Freedom is a cornerstone of Somalis' identity, enabling them to express themselves, pursue prosperity and uphold justice. Somalia's ambassador to South Africa, HE Mohamed Sheikh Issak, remarked on the long-standing relationship between Somalia and South Africa that dates back to the apartheid era. Formal diplomatic ties were established in 2012 and the embassy in Pretoria was inaugurated in 2013. A bilateral agreement was signed in September 2023 on general cooperation, paving the way for collaboration in key sectors such as agriculture and the ocean economy. HE Issak said: 'Let us reaffirm our commitment to strengthening diplomatic ties, fostering economic partnerships and promoting cultural exchanges between Somalia and South Africa.' The minister of foreign affairs and international cooperation of Somalia, HE Abdisalam Abdi Ali, who travelled a day earlier to officiate the opening ceremony of the new embassy, thanked South Africa for the warm hospitality and unwavering support of the Somali community. 'South Africa's commitment to regional stability and economic prosperity is commendable, and Somalia stands ready to deepen our engagement and expand our areas of collaboration.' He said that through its seat at the United Nations Security Council, Somalia is committed to representing African and Arab collective interests. These include advocating for peace, security and sustainable development, while ensuring that African and Arab voices are heard in addressing global problems. In closing HE Ali said: 'Thank you, South Africa, for your friendship. Thank you Somalia, for your courage. May our nations continue to build a future of shared prosperity and lasting peace.' South Africa's Deputy Minister Narend Singh, of the department of forestry, fisheries and the environment, congratulated Somalia on its Independence Day, stating that South Africa is proud of the cordial bilateral relations between the two nations. 'The Somali diaspora in South Africa has been a vibrant force across the country, contributing to this great nation's cultural and economic tapestry.' The deputy minister went on to say that South Africa remains concerned about the continuing violence and loss of life in Somalia. South Africa takes cognisance of the significant strides made by the African Union in terms of peace and security efforts in Somalia through various AU missions, he noted. 'We reiterate our view that lasting peace in Somalia can only be realised through negotiations,' he said. Deputy Minister Singh wished the government and people of Somalia a happy Independence Day, good health and prosperity.
Zawya
07-07-2025
- Business
- Zawya
Kuwait-Saudi tax law takes effect, prevents double taxation
Kuwait - The Government of Kuwait has officially issued Decree-Law No. 80 of 2025, approving a significant bilateral agreement with the Kingdom of Saudi Arabia aimed at avoiding double taxation on income and curbing tax evasion and avoidance. The agreement, originally signed in Riyadh on December 4, 2024, represents a key step in strengthening economic and financial cooperation between the two neighboring Gulf states. The decree, which took effect upon its publication in the Official Gazette on Sunday, provides a comprehensive framework to ensure that individuals and entities operating across both countries are not unfairly taxed twice on the same income, while enhancing transparency and compliance with international tax standards. Article One of the agreement outlines the individuals and entities to whom the provisions apply. It includes specific measures for income generated through entities or arrangements, ensuring that income is taxed appropriately according to its source and nature. Article Two details the types of taxes covered under the agreement. It is not limited to existing tax regimes but extends to any future taxes imposed by either government after the agreement's signing date, providing flexibility for evolving fiscal policies. Articles 6 through 20 cover a wide range of income sources, detailing the tax treatment for: Income from immovable propertyn Business profitsn Maritime, air, and land transportationn Joint venturesn Dividends and interest on debt claimsn Royalties and technical service incomen Capital gainsn Independent and dependent personal servicesn Fees for board members, artists, and athletesn Pensions and remuneration from government servicen These articles establish clear rules on how income derived from cross-border activities will be taxed, thereby reducing the risk of legal uncertainties or double tax burdens for taxpayers in both nations. Articles 21 and 22 of the agreement provide exemptions for specific categories. Teachers, researchers, students, and trainees from either country will not be subject to income taxes under this agreement, supporting educational and cultural exchanges and professional development. The issuance of this decree reflects Kuwait's continued commitment to aligning with international tax practices and fostering regional cooperation. By formalizing this agreement with Saudi Arabia, both countries aim to create a more predictable and transparent tax environment that benefits individuals, businesses, and investors operating across their borders. Arab Times | © Copyright 2024, All Rights Reserved Provided by SyndiGate Media Inc. (
Zawya
18-06-2025
- Business
- Zawya
Saudi Arabia, Panama sign air services agreement
President of the General Authority of Civil Aviation (GACA) Abdulaziz Al-Duailej signed a bilateral air services agreement between the governments of Saudi Arabia and the Republic of Panama during Saudi Arabia's participation at the 55th Paris Air Show, held from June 16 to 19, reported SPA. The agreement establishes a regulatory framework for safe, efficient, and orderly air transport between the two countries, adhering to the principles of the 1944 Chicago Convention. It demonstrates a mutual commitment to advancing civil aviation by strengthening regulations on air safety, aviation security, and fair competition. The agreement also supports Saudi Arabia's civil aviation sector strategy, which aims to forge global partnerships, expand air connectivity to 250 destinations, and increase passenger transport capacity to 330 million annually by 2030.
