logo
Guest list for G7 summit tells of global challenges

Guest list for G7 summit tells of global challenges

Time of India6 days ago

The G7 may be a small, elite club, but when its leaders gather in Canada, several other national heads will attend as guests -- highlighting the group's efforts to adapt to a fast-changing world.
The leaders of India, Ukraine, Mexico, South Africa and South Korea are among a carefully selected guest list drawn up at a time of global turmoil and a radical new US approach to world affairs.
Summit invitations have become part of the G7 routine, and the host nation often likes to make a "welcome-to-this-exclusive-club" gesture, Ananya Kumar, of the Atlantic Council's GeoEconomics Center, told AFP.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Mogi Guaçu: Sofás não vendidos vendidos para próximo de nada, dê uma olhada!
Liquidação de Sofás | Links Patrocinados
Saiba Mais
Undo
"The leaders want to meet each other, and you'll see the guests being a part of most of the work that happens."
Some hosts "really want certain guests there to show their significance in the global economy," she added.
Live Events
This year's summit in the Canadian Rockies comes as the G7's share of world GDP has fallen from 63 percent in 1992 to 44 percent today, and as member nations deliberate on troubled relations with China and Russia.
"It's important to think of who will be there in the room as they're making these decisions," Kumar said ahead of the three-day event that mixes leadership meetings with "the nitty-gritty ministerial work."
Fifty years ago, Britain, France, Germany, Italy, Japan and the United States formed the G6, first meeting at a French chateau, before Canada joined the following year.
Russia itself was a guest in the early 1990s, becoming a full member of the G8 in 1998 before being expelled in 2014.
Notable guests for the summit that starts Sunday include:
Ukraine
President Volodymyr Zelensky's presence in Canada is a sign of continuing broad G7 support for Ukraine in its fight against Russia's invasion -- despite
Donald Trump
's skepticism.
The US president regularly criticizes Zelensky and has upended the West's supply of vital military, financial and intelligence assistance to Ukraine.
Zelensky aims to use the summit to press for more US sanctions on Moscow, saying last week "I count on having a conversation" with Trump, who wants a quick peace deal.
India
Prime Minister
Narendra Modi
attended the last
G7 summit
as India -- the most populous nation in the world -- takes an evermore important role in geopolitics. But his invitation this year was far from certain.
Relations between India and Canada have turned sour over accusations of New Delhi's involvement in the assassination of a Sikh activist in Canada. Modi and new Canadian Prime Minister
Mark Carney
will have a chance to reset ties.
India is also a leading member of
BRICS
-- a more fractured bloc that includes Russia and China, but which has growing economic clout and is increasingly seen as a G7 rival.
Mexico
President Claudia Sheinbaum's invitation means Canada has ensured that all three members of the
USMCA free trade agreement
will be present.
Trump is seeking to transform the deal when it is up for review next year, as he pursues his global tariff war aimed at shifting manufacturing back to the United States.
Enrique Millan-Mejia, of the Atlantic Council's Adrienne Arsht Latin America Center, said he expected Mexico to use the summit to touch base with United States on tariffs and the USMCA, but he forecast no major breakthroughs.
South Africa
President
Cyril Ramaphosa
can expect a friendlier welcome than he got from Trump last month, when their Oval Office meeting included a surprise video alleging the South African government was overseeing the genocide of white farmers.
Ramaphosa may hope he can make progress repairing badly strained ties via a quiet word with Trump away from the cameras.
The former anti-apartheid activist is attending the summit as South Africa holds the current presidency of the wider G20 group, and he said he plans to push its agenda in Canada.
South Korea
Carney appears keen to expand the event to bring in other partners that hold views generally aligned with core members.
South Korea fits the bill and has emerged since the Ukraine war as a major defense exporter to Europe, although it has stopped short of directly sending arms to Kyiv.
Newly elected President Lee Jae-myung, who comes from the left, will attend after winning a snap election triggered by his predecessor's disastrous martial law declaration.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Houthis threaten to resume attacks on US vessels in Red Sea if US joins Israel's war with Iran
Houthis threaten to resume attacks on US vessels in Red Sea if US joins Israel's war with Iran

Time of India

time23 minutes ago

  • Time of India

Houthis threaten to resume attacks on US vessels in Red Sea if US joins Israel's war with Iran

Tel Aviv: The Iranian-backed Houthi rebels in Yemen have threatened to resume attacks on US vessels and warships in the Red Sea if the Trump administration joins Israel's military campaign against Iran. Saturday's threat came in a prerecorded video statement by Houthi military spokesman Brig Gen Yahya Saree. "In the event of the American involvement in the attack and aggression against Iran with the Israeli enemy, the armed forces will target its ships and warships in the Red Sea," Saree said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villa For Sale in Dubai Might Surprise You Villas in Dubai | Search ads Learn More Undo US President Donald Trump is weighing active US military involvement in the war .

Income Tax Return: Are capital gains from MFs taxed differently under new & old regime? What taxpayers should know about new LTCG, STCG rules
Income Tax Return: Are capital gains from MFs taxed differently under new & old regime? What taxpayers should know about new LTCG, STCG rules

Time of India

time29 minutes ago

  • Time of India

Income Tax Return: Are capital gains from MFs taxed differently under new & old regime? What taxpayers should know about new LTCG, STCG rules

Capital gains from sale of mutual funds (MFs) are taxable In India, under both the old and new income tax regimes. (AI image) Income Tax Return Filing AY 2025-26: One important aspect of income tax return filing, apart from reporting income from salary, is also filling in details of any capital gains - short-term or long-term - that you have made during the financial year. If you are wondering whether taxation of capital gains made from mutual funds differs between the new and the old income tax regime, we have you covered. Capital Gains From MFs: How Does Taxation Work? Capital gains from sale of mutual funds (MFs) are taxable In India, under both the old and new income tax regimes. The categorization of the MF, method of computation of capital gains, is not impacted by the choice of the income tax regime by an individual. 'All the deductions available while computing the capital gains, including towards reinvestment in the specified new asset, continue to be equally available under both the new and old income tax regimes,' says Parizad Sirwalla, Partner and Head, Global Mobility Services, Tax, KPMG in India. Also Read | ITR e-filing FY 2024-25: What is the benefit of pre-filled ITR forms on the income tax portal? Top points In general, from a taxability perspective, MFs are broadly categorized into equity MFs and non-equity MFs. There is also a special category of specified MFs within the non-equity MFs. Parizad Sirwalla tells TOI, 'Effective 23 July 2024, gains from sale of equity MFs, if held for more than 12 months, are classified as Long-term (LTCG) and gains (exceeding Rs 1.25 lakh) are taxable at 12.50%. Short Term Capital Gains (STCG) from sale of equity MFs are taxable at 20%.' by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch vàng CFDs với sàn môi giới tin cậy IC Markets Tìm hiểu thêm Undo Gains from sale of non - equity MFs, held for more than 24 months, are considered LTCG and taxable at 12.50%. STCG from sale of non-equity MFs are taxable as per the income tax slab rates. Further, gains from specified MFs are deemed to be STCG irrespective of the holding period and taxable as per the tax slab rates. Applicable surcharge and cess apply on the above tax rates 'The tax slab rates, surcharge rates and applicable rebates, will apply qua the tax regime chosen. The maximum surcharge under the old tax regime is 37% (triggers beyond income of Rs 5 crore) while under the new regime it is restricted to 25% (triggers beyond income of Rs 2 crore). It may be noted that under both tax regimes, surcharge is restricted to 15% on all LTCG and STCG on equity MF,' Parizad Sirwalla adds. Also Read | ITR e-filing AY 2025-25: What is Annual Information Statement (AIS) and how is it different from Form 26AS? Top points for taxpayers Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

Scorpio, Weekly Horoscope, June 22 to June 28: Strengthen Bonds, Embrace Patience, and Communicate with Care
Scorpio, Weekly Horoscope, June 22 to June 28: Strengthen Bonds, Embrace Patience, and Communicate with Care

Time of India

time29 minutes ago

  • Time of India

Scorpio, Weekly Horoscope, June 22 to June 28: Strengthen Bonds, Embrace Patience, and Communicate with Care

This week, Scorpio, balance determination with patience, focusing on partnerships and communication. Professional growth and potential legal advancements are highlighted midweek, requiring flexibility. The week concludes with success in various forms, from academic achievements to financial gains, emphasizing the importance of nurturing relationships and maintaining well-being through mindful practices. Scorpio, this week you are called to blend your signature determination with patience and compassion. The beginning of the week centers on partnership and support—your spouse or close allies will play a vital role in your life. Romantic inclinations are high, but you may also face minor setbacks or misunderstandings, especially if you are not careful with your words or actions. Midweek, your attention is drawn to professional growth and the potential for legal or contractual progress. New partnerships in business are favored, and offers may come your way if you remain open and flexible. There may be some hurdles in communication or in your personal circle, but with your sharp intuition and self-control, you can smooth over tensions. As the week ends, success arrives in many forms. Students and professionals alike find fulfillment and achievement; investments, particularly in speculation or new ventures, are favored. The home environment becomes harmonious, and you are likely to receive honor or support from respected figures or superiors. Nurture your relationships and focus on your strengths; your resilience will be rewarded. Love and Relationship Love is a powerful theme for Scorpios this week, with emotional highs and a few important lessons. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Memperdagangkan CFD Emas dengan salah satu spread terendah? IC Markets Mendaftar Undo Early days are sweet—your spouse or partner may offer invaluable support, and unmarried Scorpios could attract romantic interest. However, be careful not to let pride or stubbornness create unnecessary drama. Midweek, you might need to work on communication within your relationship. Differences in opinion or minor disputes can arise—resolve them quickly with empathy. Singles might experience moments of doubt or hesitation; trust your instincts but don't rush into decisions. The weekend and closing days are filled with harmony and renewed intimacy. Lovers and spouses reconnect with warmth, and those seeking new relationships may find luck in social or family circles. Take the opportunity to build trust and share your feelings openly. Education and Career For Scorpio, this week brings progress, provided you act with careful planning. Early in the week, academic and professional endeavors are blessed by strong support networks—teachers, mentors, and business partners offer guidance and resources. Midweek, you may encounter obstacles—delays in work or unexpected critiques from colleagues. Don't let this deter you. Stay focused and diplomatic, and you'll soon turn the tide in your favor. For students, this is a time to double down on studies, as efforts now lead to meaningful success later in the week. By the weekend, expansion and achievement are highlighted. Recognition, new contracts, or business expansion are likely, and students can expect positive results in examinations or projects. Let your passion and determination guide you. Money and Finance Financial matters are a mixture of opportunity and caution. At the week's start, savings are favored, but risky investments should be postponed. By midweek, new proposals or business partnerships may open avenues for gains—consult advisors and act prudently. The weekend brings financial windfalls, possibly from past efforts or speculative ventures. Just remember to plan for the future and avoid overspending; consistency in saving will secure your position for months to come. Health and Well-being Health is stable for Scorpio, though minor issues may crop up due to stress or dietary irregularities. Early in the week, avoid overeating or neglecting your physical well-being. Regular exercise and mindful eating are important. As the week progresses, your spirits lift, and physical energy returns. Joyful interactions and successes in work or studies further enhance your well-being. If you experience fatigue by week's end, rest and recuperation will help restore your vitality. Avoid unnecessary conflicts to keep your mind and body in balance. Discover everything about astrology at the Times of India , including daily horoscopes for Aries , Taurus , Gemini , Cancer , Leo , Virgo , Libra , Scorpio , Sagittarius , Capricorn , Aquarius , and Pisces .

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store