The US seeks to change the wording focusing on 'fair' trade
Finance ministers from the G20 concluded talks in the German city of Baden-Baden last Saturday without agreeing on a joint position that would have explicitly renewed their long-standing pledge to free trade, news wires reported. Following pushback from US officials, led by US Treasury Secretary Steve Mnuchin, the G20 finance ministers' communique backtracked on past commitments, such as promoting open trade and an outright rejection of protectionism.
Angela Merkel and Shinzo Abe opened Germany's largest digital trade fair
The CeBIT, Germany's largest digital trade fair, was last Sunday officially opened in the northern German city of Hanover with the main aim to showcase the technologies of the future. The fair lasted for five days with more than 3,000 exhibitors from 70 different countries presenting their latest achievements.
 
The companies signed a deal to widen supplies from Russia to Europe
Italian oil and gas company Eni and Russian state giant Gazprom signed last Tuesday a memorandum of understanding to jointly develop the so-called Southern Gas Corridor from Russia to Europe.
 
Climate deal to boost world economy
Stopping global war­ming would boost the global economy by $19 trillion, the International Renewable Energy Agency (IRENA) said last Monday in a report commissioned by the German government for G20 climate talks, Bloomberg wired. Investing heavily in renewable power and energy efficiency to keep warming below 2 degrees Celsius, in accordance with the landmark Paris Agreement, will increase the global economy around 0.8% by 2050.
Rich people more than ever in 2017
For the first time ever, the list of the richest people on earth made by Forbes each year contains more than 2,000 billionaires. The 2017 number has jumped 13% to 2,043, up 233 of the 2016 list. Their total net worth rose by 18% to $7.67 trillion, also a record.
Brazilian meat scandal prompts import ban
The EU, China, South Korea and Chile curtailed meat imports from Brazil last Monday after a meatpacking industry scandal erupted in the world's biggest exporter of beef and poultry.
Marriott to add up to 300,000 rooms by 2019
Marriott International hotel chain announced last Tuesday it would accelerate its global growth strategy by adding up to 300,000 rooms worldwide by 2019, as part of a three-year growth plan, news wires reported.
Deutsche Bank opens innovation lab in New York
Deutsche Bank is opening the door to Wall Street startups with a new innovation lab it had opened last week in New York, news wires reported.
In Brief
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OECD warns China on rising corporate debt in some sectors
 
The OECD's fresh Eco­nomic Survey of China warned on 21 March Tuesday that financial risks were mounting considerably in the Asian nation on the back of rising enterprise debt and overcapacity in some sectors. The report said debt owed by non-financial firms in China had reached 170% of GDP, the highest level among leading economies. The development had been driven by implicit state guarantees to state-owned companies and public entities. OECD researchers urged Chinese authorities to gradually reduce such guarantees and restrict leveraged investment in asset markets.

Russia to extend Turkish food ban, angry on higher tariffs
 
Russia will extend the import ban on Turkish vegetables, fruit, and meat, in response to heavy tax on Russian agriculture, Russiaн media said. A week ago they reported that Turkey had imposed a 130% tariff on wheat, corn and sunflower meal. Turkey's Trade Ministry denied the reports, but a representative of the Russian trade mission in Ankara said Turkey had excluded Russia from a list of countries with zero rates of customs duties. Russia banned food imports from Turkey after the downing of a Russian jet in Syria in November 2015. Some other restrictions were lifted later. 

Goldman Sachs to move jobs out of London
 
Goldman Sachs will start moving hundreds of people out of London before any Brexit deal is struck, Richard Gnodde, CEO of Gol­dman Sachs International, the European arm of the Wall Street bank, told CNBC last Tuesday. The bulk of Goldman's European operations are in Britain, where it has around 6,000 employees. Gnodde declined to say which locations would benefit the relocation, though he stated that the firm had banking licences in France and Germany and offices in several European cities.

Vodafone, Idea to form India's largest telecoms company
 
British mobile phone giant Vodafone has announced it will merge its Indian unit with Idea Cellular to create the Asian nation's largest telecoms operator, demoting current market leader Bharti Airtel to second place. The combined company will have almost 400 million customers, 35% client market share, and 41% revenue market share, the companies said in a joint statement. Current leader Bharti Airtel has 269 million subscribers. The joint venture was said to have a combined value of $23.2bn (€21.57bn), with the merger expected to be finalised within two years.

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