Humanities-based organizations eligible for up to $10,000; applications accepted from May 1 to 15, 2020.

The post CARES Act Recover Grants available for coronavirus relief appeared first on Division of Historical and Cultural Affairs - State of Delaware.

The regulations under the EPF will be amended to include “pandemic” as a reason to allow non-refundable advance of 75% of the accumulated amount or three months of the wages, whichever is lower, from their accounts.

Borrowers who opt for the moratorium on repayments will have to pay an additional interest charged on simple interest basis. Thus, those who have the capacity to repay should continue to make the payments regularly

The due date for depositing statutory contributions, aggregating one-fourth of one employee’s monthly wages, towards provident fund, to be deposited by an employer, falls within the first 15 days of the next month.

In its status report submitted earlier, the Centre had said that all the steps were being taken for the welfare and benefit of migrant workers.

The letter has urged, mainly for wage subsidy to large employers, on the lines of the Netherlands and Australia .

According to the June 7, 2019, circular of the RBI, banks had to make additional 20% provisioning for the cases where resolution could not be reached over a period of 210 days, after signing the inter-creditor agreement.

Prior to RBI’s announcement on Friday, three-month moratorium was limited to accounts whose installments were falling due after March 1, 2020.

The stock of products with retailers currently is just about sufficient and distributors have been directed to supply them with quantities that will last for about four days or so.

The unprecedented situation created by Covid–19 pandemic and lockdown announced by both the Union and state governments from March 24 has led to severe disruptions affecting the economy and impacting people at large and the MSME spinning mills.

The e-way bill generated on or before March 24 and expiring during the March 20-April 15 period would now be valid till May 31.

A US court provided temporary relief to many Indians who live in America, and also has rejected the striking down, for now of the rule brought in by President  Obama – allowing the spouses of visa holders in H-1B category to work in the country. A…

The labour ministry has started mapping details of such workers from April 8. Along with basic details such as name, age, gender, occupation, residential address and native district/state, details of their bank accounts and Aadhhar cards are also being collected.

Indian cricketer Rohit Sharma has joined the list of celebrity donors who have donated money to tackle the onslaught of the Coronavirus. Sharma donated Rs 45 lakh to the PM Cares fund and sent Rs 25 lakh to the Maharashtra CM Relief fund.

Guidelines on refunds for flight ticket cancellations during the lockdown period have been issued!

The concert will spotlight the brave stories of healthcare workers working tirelessly on the frontlines of the COVID-19 outbreak, through the special live event.

Current relaxations, prospective exemptions, and time taken to restore normalcy may depress tax collections. An increase in the tax rate of certain goods can compensate for losses.

In the wake of the flooding in Colorado, the National Credit Union Administration has activated its disaster relief policy to help protect consumers and ensure the continuity of credit union services in affected areas.

(1) SHB Realisations Ltd and (2) GB Europe Management Service Ltd v (1) Cribbs Mall Nominee (1) Ltd and (2) Cribbs Mall Nominee (2) Ltd. The County Court recently considered a claim for relief from forfeiture involving premises previously occupied b...

Westmark (Lettings) Limited v Elizabeth Peddle and others [2017] UKUT 449 (LC) Here, the Upper Tribunal had to decide on the issue of when “relevant costs” are incurred for the purposes of Section 20(B)(1) of the Landlord and Tenant Act ...

The Government introduced tax reliefs and extended deadlines The Government decided on the tax reliefs previously announced, postponing the deadlines in connection with the annual report to 30 September. The payment of health services contribution b...

Corona tax deferrals in the light of the applicable law Since the publication of the guideline from the German Federal Ministry of Finance ("Bundesfinanzministerium", BMF) published 19 March 2020 (cf. our ...

  On 26 March 2020, the Chancellor Rishi Sunak proposed a package of tax measures relevant to UK businesses, large and small to help ease the pressures we face from the impact of COVID-19.  One of the measures in force, is the deferral of ...

Tax relief for volunteers and donations in the Corona crisis The Corona crisis poses enormous challenges for the whole society. In order to mitigate the spread of the pandemic, a wave of helpfulness and solidarity has been raised to assist the fello...

Introduction In the recent case of Trafigura v Navigazone Montanari, the Commercial Court was asked to decide whether, on its true construction,  an amended Trafigura In-Transit Loss clause (the “ITL Clause”) (as inserted into a Bee...

Employers, the leasing industry, professional advisers and many government departments including the DTI, were taken by surprise when withdrawal of the tax relief on computers supplied to employees was announced in the recent Budget. Numerous re...

The Chancellor has announced some important changes to the capital gains tax (CGT) regime. These changes may have a significant impact on the tax payable by your employees holding shares in your company traded on the full list. Abolition of taper r...

Précis: The Courts have adopted a new test to assess applications for relief from sanctions, which demonstrates a more reasonable approach than used recently.  However, it remains important to ensure compliance. What? During litigation, ...

The Low Carbon Contracts Company (“LCCC”), the counterparty for the UK’s Contracts for Difference (“CFD”) scheme, issued an advice note on 7 April 2020 confirming that COVID-19 is capable of constituting a Force Majeure...

On Thursday 2 April 2020, the FCA issued draft guidance and Handbook changes to address the impact of Covid-19 on consumer credit customers who have credit cards, store cards and catalogue credit, personal loans and overdrafts. There is a short win...

As COVID-19 continues to cause far reaching disruption, the Cayman Islands’ Ministry of Financial Services issued two Press Releases on 25 and 26 March, putting forward a package of measures designed to mitigate the neg...

On Thursday 9 April, the FCA confirmed measures to support consumer credit customers facing financial difficulty as a result of COVID 19 on personal loans, credit cards and overdrafts. Measures introduced by the new rules became applicable on Tuesda...

The next match involving Tiger Woods and Phil Mickelson involves a $10 million donation for COVID-19 relief efforts, along with plenty of bragging rights in ...

Small firms whose income has been halved by the contagion can get ¥2 million and independent businesspeople can get ¥1 million.

The Bugwere cultural institution, the business community and different leaders, inculding MPs, have all donated to support vulnerable locals

[Nation] Eliud Kipchoge, the legend, is leading from the front in distributing relief food to vulnerable athletes in the Rift Valley.

Sixty eight needy sports men and women are set to benefit by the end of the exercise.

Islamabad : It has been rather unfortunate that despite a huge relief package of Rs50 billion for Utility Stores Corporation and a cut in POL products by almost 31 rupees in a month by the federal government, its impact has not trickled down to the grassroots level, as the general public is still...

KARACHI: The State Bank of Pakistan (SBP) on Friday allowed subsidised financing for setting up of new plants and expansion of existing units while the maximum amount for a single unit has been set at Rs5 billion to boost economic activities in the manufacturing sector.

The SBP on Friday said it has opened up its subsidised Temporary Economic Relief Facility (TERF) for Balancing, Modernization and Replacement (BMR) and expansion of existing projects.

Under this scheme, the SBP provides refinance to banks for their onward extension of financing at maximum end-user rate of seven per cent for 10 years.

“The maximum financing for a single project under the scheme is Rs5bn. The objective of this facility is to boost economic activity through investments in manufacturing units,” said the SBP.

While allowing the BMR and expansion of existing projects, the SBP has permitted financing for purchase of new-imported and locally-manufactured plant and machinery against foreign letter of credit (LC) and inland LC.

“The funding under the facility cannot be used for procurement of second-hand machinery, land or carrying out civil works,” said the SBP.

According to the circular issued by the central bank, in addition to new projects, existing projects and businesses are being allowed to avail financing under these facilities for BMR and expansion of their projects or businesses.

“This measure has been taken to provide further stimulus to the economy in the context of Covid-19’s impact on the economy, to support investment in the country for modernising or expanding manufacturing and production units, and in response from feedback from stakeholders,” said the SBP.

The central bank said that, it has taken several measures since the outbreak of Covid-19 to safeguard economic activity in the country. On Mar 17, the SBP introduced TERF and its shariah-compliant version to stimulate new investment in the manufacturing sector.

With expansion in scope of the facility, the SBP expects that existing businesses will avail subsidised funding to improve productivity leading to higher economic activity and employment generation.

The banks and development finance institutions will be required to make disbursements to their customers on the basis of certificates of their internal audit confirming that financing is within the terms and conditions laid down in the facilities.

Borrowers will be required to submit a report from the Pakistan Banks Association-approved surveyors with regard to confirmation that the newly-purchased plant and machinery has been installed as per their initial request or proposal for BMR and expansion. In case of installation and fixation in part, this report will be required at first and final installation of the plant and equipment.

Published in Dawn, May 9th, 2020

ADB today announced a $400,000 grant to the Government of Fiji to help fund priority recovery activities following Tropical Cyclone Harold, which hit Fiji's western, central, and eastern divisions on 8 and 9 April.

ADB today approved a $200,000 (460,000 pa’anga) grant to the Government of Tonga to help restore life-sustaining services following the damage from Tropical Cyclone Harold.

Alastair Hughes, CEO (Asia Pacific) of Jones Lang LaSalle (JLL), who was in Bangalore to hold a board meeting of the Asia Pacific region comprising China, Japan, Australia, South East Asia and India, spoke to BusinessLine to share the real estate market sentiment and key issues on corporate leasing. How is the realty market in India as compared to other countries in Asia Pacific ? India has seen a dramatic recovery. The hangover did not last very long as it had in 2010-2011. The market is very dynamic here right now. While Asia-Pacific began to recover in 2012-2013, India went through a lull, largely due to lack of business confidence, […]

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