India hosts G20 finance ministers in first major meeting of its presidency

India will from Friday host finance ministers and central bank governors of G20 members for two days of talks on global economic challenges, health and international taxation.

The meetings in Bengaluru, India's IT capital and the main city in the southern state of Karnataka, will be the first of more than 200 G20 events the country will host this year after assuming the presidency of the group from Indonesia.

The G20 is an intergovernment forum of the world’s major economies — 19 countries and the EU — that addresses issues related to the economy, financial stability, climate change and sustainable development.

India’s Finance Minister Nirmala Sitharaman and Shaktikanta Das, governor of the Reserve Bank of India, will jointly lead the first meeting.

Ms Sitharaman will also hold talks with representatives of more than 10 countries, including the US, Italy, Spain, Indonesia and the UK.

India's Finance Minister Nirmala Sitharaman in New Delhi. EPA

Seventy-two delegates will attend the meetings, which will be held over three sessions. The G7 countries — Canada, France, Germany, Italy, Japan, the UK and the US — will be taking part under the leadership of Japan.

Jeremy Hunt, the UK's Chancellor of the Exchequer, is expected in Bengaluru on Thursday and will meet the heads and founders of Indian tech companies for talks on boosting partnerships with Britain.

The start of the G20 event coincides with the first anniversary of Russia’s invasion of Ukraine, and the global effects from the ongoing conflict are expected to be part of the talks.

Delegates will also discuss strengthening multilateral development banks; leveraging digital public infrastructure for advancing financial inclusion and productivity gains; and financing for resilient, inclusive and sustainable “cities of tomorrow”, the Indian government said.

Anurag Thakur, Minister for Information and Broadcasting, said India was seeking to facilitate the G20's contribution to finding "pragmatic global solutions" to the problems facing the world.

The five pillars of Islam

1. Fasting

2. Prayer

3. Hajj

4. Shahada

5. Zakat

ORDER OF PLAY ON SHOW COURTS

Centre Court - 4pm (UAE)
Gael Monfils (15) v Kyle Edmund
Karolina Pliskova (3) v Magdalena Rybarikova
Dusan Lajovic v Roger Federer (3)

Court 1 - 4pm
Adam Pavlasek v Novak Djokovic (2)
Dominic Thiem (8) v Gilles Simon
Angelique Kerber (1) v Kirsten Flipkens

Court 2 - 2.30pm
Grigor Dimitrov (13) v Marcos Baghdatis
Agnieszka Radwanska (9) v Christina McHale
Milos Raonic (6) v Mikhail Youzhny
Tsvetana Pironkova v Caroline Wozniacki (5)

What the law says

Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.

“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.

“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”

If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.