Page 18 - Britain

India, UK ministers to address annual IGF at election inflection point

Recently re-appointed Union Minister for Railways, Information & Broadcasting, Electronics & IT Ashwini Vaishnaw will make his first intervention on an international stage at the annual India Global Forum (IGF) in London starting on Monday. His virtual address will outline the Modi 3.0 government's immediate priorities and the opportunities for global partners to participate in the Viksit Bharat initiative of becoming a developed nation by 2047. On the UK side, Foreign Office Minister in charge of South Asia Lord Tariq Ahmad will lay out the Conservative Party led government's highlights of the bilateral partnership. The week-long event comes at an inflection point, soon after the Indian general election and at the peak of the UK's campaign for the July 4 general election. In keeping with the non-partisan outlook of IGF London, Opposition shadow foreign secretary David Lammy is set to lay out his vision for strategic ties between India and the UK under any future Labour Party .

Incredibly angry over election date betting accusations: British PM

British Prime Minister Rishi Sunak has said that anyone involved in using inside information to bet on the date of Britain's July 4 national election should be expelled from his Conservative Party. Sunak said on the BBC on Thursday that he was "incredibly angry, incredibly angry" to learn of allegations that Conservative politicians betted on the election date, and that they "should face the full force of the law" if they were found to have broken the law. "It's right that they are being investigated properly by the relevant law enforcement authorities," he said. "If anyone is found to have broken the rules, not only should they face the full consequences of the law, I will make sure that they are booted out of the Conservative Party." Two weeks ahead of the general election, it was an uncomfortable experience for Sunak, whose Conservative Party is trailing the main opposition Labour Party by 20 points by many polls ahead of the vote. Earlier, asked about reports that the UK's ..

Bank of England to keep rates at 16-year high of 5.25% before UK election

Last month the central bank forecast inflation would rise to around 2.6 per cent by the end of the year

UK takes top spot in Europe, Israel for GenAI startups, says Accel

Accel analysed 221 GenAI startups and found that 30 per cent were founded in the UK, 14 per cent in Germany, and 13 per cent in Israel

JLR to licence Freelander to develop EVs on Chinese JV partner's platform

Tata Motors-owned Jaguar Land Rover on Wednesday said it has signed a letter of intent with its Chinese joint venture partner Chery to license the Freelander brand to their JV for development of electric vehicles in China. Under the proposed new licensing agreement, CJLR -- a 50/50 joint venture of Jaguar Land Rover Ltd and Chery Automobile Company Ltd - - will pivot to produce an advanced portfolio of electric vehicles based on Chery's EV architecture, exclusively under the Freelander name, the company said in a statement. JLR's Freelander brand was a Land Rover vehicle which was produced between 1997-2015. It was succeeded by the Discovery Sport in 2016. "In reborn CJLR form, Freelander will offer a range of mainstream electric vehicles, initially sold in China through a distinct network but over time destined for global export," the statement said. The vehicles will be designed in collaboration with both Chery and JLR's creative teams to create a new positioning in the rapidly .

Children were sent to distillery by school bus: NCPCR chief on MP case

Police in the state of Madhya Pradesh launched an investigation into Som after the National Commission for Protection of Child Rights last week found 39 boys and 19 girls working at the factory

UK approval of arms exports to Israel plunged sharply at start of Gaza war

The United States and Germany increased arms sales to Israel after the start of the war with the Palestinian group Hamas in October last year

Gatwick Airport aims to double India traffic in 5 yrs: CCO Jonathan Pollard

Currently, a total of 24 flights per week are being operated between India and Gatwick Airport. Air India has been operating all 24 services since April last year

StanChart fails to cut US sanctions breach claims from London lawsuit

The lawsuit comes after the London-based bank agreed to pay $1.1 billion in 2019 to US and British authorities

Ship evacuated, ablaze after attack by Yemen's Houthis, says UKMTO

The Houthi campaign in the Red Sea region has disrupted global shipping, cascading delays and costs through supply chains

Kate Middleton makes first public appearance since cancer diagnosis

Britain put on a display of birthday pageantry Saturday for King Charles III, a military parade that marked the Princess of Wales' first public appearance since her cancer diagnosis early this year. The annual event was also a show of stability by the monarchy after months in which both the king and Kate, wife of heir to the throne Prince William, have been sidelined by cancer treatment. Kate joined other members of the royal family on a Buckingham Palace balcony at the end of the King's Birthday Parade. The family and crowds outside the palace watched a flyby of military aircraft to cap ceremonies marking the monarch's official birthday Kate announced Friday that she would attend the royal birthday celebrations after making progress in her treatment. She disclosed in March that she was undergoing chemotherapy for an unspecified form of cancer. It was her first public appearance since December. I am making good progress, but as anyone going through chemotherapy will know, there are

Sri Lanka economic recovery hinges on sustaining ongoing reforms: IMF

The key to Sri Lanka's transition from stabilisation to full economic recovery is sustaining the ongoing reform momentum, the IMF said on Friday after it decided to release the third tranche of USD 336 million from the USD 2.9 billion four year bailout package to the island nation. While releasing the third tranche, the IMF on Thursday noted that Sri Lanka's economy has started recovering, inflation remained low, revenue collection was improving, and reserves continued to accumulate but warned that despite these positive developments, the economy is still vulnerable and the path to debt sustainability remains knife-edged. We encourage the (Sri Lankan) authorities to continue to build on these hard-won gains and remain steadfast with their reform commitments, Peter Breuer, the head of the Sri Lanka IMF mission, told reporters here on Friday. In April 2022, Sri Lanka declared its first-ever sovereign default since gaining Independence from Britain in 1948. The unprecedented financial

Tax burden in UK highest since 1949; election pledges won't bring relief

Election pledges not to raise tax have been common since 1997, when Tony Blair promised not to raise income tax or VAT

Super-wealthy may quit UK over Labour plans for inheritance taxes on trusts

Economists say overall tax levels are likely to approach an all-time high whoever wins the election, despite promises by both main parties not to increase major tax rates

UK economy flatlines in April in blow to Conservatives ahead of elections

The British economy failed to grow in April, official figures showed Wednesday, in a blow to Prime Minister Rishi Sunak who has made the return of growth and a generally calmer economic backdrop a central pillar of the Conservative Party's election campaign. The Office for National Statistics said wet weather dampened consumer spending and construction during the month. The flat monthly reading came after a 0.6 per cent increase during the first quarter of the year, which Sunak has made much of on the campaign trail following a period of muted growth. Though monthly figures are vulnerable to short-term factors, the flat reading is likely to be used by opponents of the Conservatives in the run-up to the election on July 4. While Treasury chief Jeremy Hunt insisted the economy is turning a corner, his opposite number in the Labour Party Rachel Reeves said the economy has stalled. The latest growth figures come a week before the next round of inflation data and the Bank of England mak

Oxfam urges G7 to tap fraction of military spend to resolve hunger, debt

The G7 - comprising the United States, Japan, Canada, Germany, France, Italy and Britain - is set to meet in Italy this week where leaders will discuss issues such as climate change, migration, debt

Rise in Britain's jobless rate muddies PM Sunak's message to voters

Official data on Tuesday showed the jobless rate for the three months to April rose to 4.4 per cent from 4.3 per cent

After EU jolt, Macron's decision to snap parliamentary polls shock markets

The euro fell by as much as 0.6 per cent to a one-month low of $1.0733 and hit a 21-month trough against sterling of 84.49 pence

UK job market on its way to recovery after downturn, say recruiters

Billings for temporary staff dropped by the least since January

RBI brings gold reserve to India; nothing more should be read into it: Das

The Reserve Bank of India has brought 100 metric tonnes of gold reserve from the UK to India as there is enough domestic storage capacity, and nothing more should be read into it, Governor Shaktikanta Das said on Friday. The RBI moved 100 metric tonnes of its gold stored in the UK to domestic vaults in FY24. This is one of the biggest movements of gold undertaken by the country since 1991, when pledging a substantial part of the gold holding to tide over a foreign exchange crisis resulted in its movement out of vaults. The quantum of gold stored outside was static for a long time, Reserve Bank of India Governor Das said here. "In recent years, the data shows that the Reserve Bank is buying gold as a part of its reserves, and the quantum was going up. We have domestic (storage) capacity," he said. Therefore, it was decided to move part of the reserve outside India to be stored within the country, he said, adding, "That's it. Nothing more should be read into it". The country's overa