Growth Network

Shell posts loss of nearly $22bn in an ‘extraordinary’ year

Royal Dutch Shell posted an unprecedented loss of $21.7bn in 2020, compared with net profit of almost $16bn in 2019, the oil giant confirmed on Thursday. Shell, like all oil and gas companies, has been hit by a combination of the oil crisis and the coronavirus pandemic, which has hammered the sale of petrol, diesel and airline fuel.

Chief executive Ben Burden described 2020 as ‘extraordinary’ and said in a statement that the company had ‘taken tough but decisive actions and demonstrated highly resilient operational delivery.’

Earlier this week, ExxonMobil announced it had made a loss of $22.4bn while BP lost $5.7bn.

https://www.dutchnews.nl/news/2021/02/shell-posts-loss-of-nearly-22bn-in-an-extraordinary-year/

Shell posts loss of nearly $22bn in an 'extraordinary' year - DutchNews.nl Royal Dutch Shell posted an unprecedented loss of $21.7bn in 2020, compared with net profit of almost $16bn in 2019, the oil giant confirmed on Thursday. Shell, like all oil and gas companies, has been hit by a combination of the oil crisis and the coronavirus pandemic, which has hammered the sale o...

Startups get tax holiday, capital gains exemption by one more year

The India Union Budget for 2021-22 seems to be in favour of the Indian startup ecosystem by announcing tax incentives for startups and an extension in capital gains exemption by one year, which comes as a relief for startups as they were looking for some support from the Union Budget after the COVID shock of March 2020 devastated most industries.

"In order to incentivise startups in the country, I propose to extend the eligibility for claiming tax holiday for startups by one more year - till March 31, 2022. Further, in order to incentivise funding of the startups, I propose to extend the capital gains exemption for investment in startups by one more year - till March 31, 2022," the Finance Minister said.
The government announced this under the Startup Up India plan, a tax holiday for startups in a block of 7 years.

Under the current regulations, a startup incorporated after April 1, 2016, is eligible for getting 100 percent tax rebate on profit for a period of three years in a block of seven years, given that the annual turnover does not exceed Rs25 Cr in any financial year.

https://www-startupnews-fyi.cdn.ampproject.org/c/s/www.startupnews.fyi/amp/startups-get-tax-holiday-capital-gains-exemption-by-one-more-year

First coronavirus vaccine in the Netherlands to be given on Jan. 8

A day after the Dutch government was criticized for not being ready to quickly start vaccinating the public against the SARS-CoV-2 coronavirus, Health Minister Hugo de Jonge said the country will administer its first vaccine dose on January 8. The date would rely on the European Medicines Agency giving its approval to the Pfizer/BioNTech vaccine which has already received the green light in the United Kingdom and the United States.

In a statement, the Ministry of Health said people will be invited to get the vaccine starting on January 4. Those who receive the first invitations can then call to book an appointment. The first group to be inoculated will be care home staff, people who provide care to those with disabilities, in-home nurses, and home healthcare support workers.

"The GGD will vaccinate at three locations in the country by Monday, 11 January at the latest. Vaccinations will take place at 25 central locations from Monday 18 January," the ministry stated. Vaccinations will be carried out daily, and locations will have extended opening hours.

https://nltimes.nl/2020/12/17/first-coronavirus-vaccine-netherlands-given-jan-8?

First coronavirus vaccine in the Netherlands to be given on Jan. 8 A day after the Dutch government was criticized for not being ready to quickly start vaccinating the public against the SARS-CoV-2 coronavirus, Health Minister Hugo de Jonge said the country will administer its first vaccine dose on January 8. The date would rely on the European Medicines Agency giv...