Page 7 - Rishi Sunak

Sudha Murty holds about Rs 5,600 crore worth of stocks in Infosys

Sudha Murty, who was on Friday nominated to the Rajya Sabha by the President, holds a 0.83 per cent stake in IT bellwether Infosys which at current prices is worth close to Rs 5,600 crore. The 73-year-old philanthropist is the wife of Infosys co-founder Narayana Murthy. She is the chairperson of the Murty Trust and has authored several books. According to the latest shareholding filed by Infosys with the BSE, she holds 3.45 crore shares of the company. At the last closing price of Rs 1,616.95 on the BSE, Murty's holding in Infosys is currently worth Rs 5,586.66 crore. Her husband Narayana Murthy owns 1.66 crore equity shares that are worth Rs 2,691 crore. Sudha Murty, who was awarded the Padma Shri in 2006 and Padma Bhushan in January this year, is also the mother-in-law of UK Prime Minister Rishi Sunak. While Padma Shri is the country's fourth-highest civilian award, Padma Bhushan is the second-highest civilian honour. Prime Minister Narendra Modi on Friday morning took to the

Former British PM Theresa May to stand down at next election after 27 years

Theresa May, who was the prime minister of Britain between 2016 and 2019, on Friday announced her exit from frontline politics after 27 years as a member of Parliament in the House of Commons. The 67-year-old, whose travails with getting a Brexit deal through Parliament in the wake of the June 2016 referendum ended in a forced exit from 10 Downing Street over four years ago, said she had taken the "difficult decision" to not contest in the next general election from her Maidenhead constituency in south-east England. She has been the Conservative MP for the Berkshire seat since 1997, having been elected seven times. "Since stepping down as prime minister I have enjoyed being a backbencher again and having more time to work for my constituents and champion causes close to my heart including most recently launching a Global Commission on Modern Slavery and Human Trafficking, said May in a statement to her local Maidenhead Advertiser'. These causes have been taking an increasing amount

Britain's governing Tories hope tax cuts can lift ailing election fortunes

In the run-up to the UK's general election that opinion polls show the governing Conservative Party losing, Treasury chief Jeremy Hunt will seek to regain the political initiative by announcing tax cuts Wednesday during his annual budget statement. With the British economy hitting one definition of recession and public finances stretched, he hasn't got much room for big tax cuts unless he lays out a plan for another period of austerity for already cash-starved public services. In comments released by the Treasury ahead of his budget, Hunt is set to tell Parliament that the British economy withstood the coronavirus pandemic and the sharp spike in energy prices following Russia's invasion of Ukraine, which sent inflation soaring and prompting the Bank of England to raise interest rates aggressively. Of course, interest rates remain high as we bring down inflation," he plans to say. But because of the progress we've made, because we are delivering on the prime minister's economic ...

UK's Jeremy Hunt plays down talk of big tax cuts in pre-election budget

'We don't have as much of a positive outlook as we had at the end of the Autumn Statement,' he said in an interview, referring to last November's fiscal update

Rishi Sunak warns of 'toxic' culture in UK politics amid threats to MPs

British Prime Minister Rishi Sunak has warned against a growing toxic culture in politics amid reports of members of Parliament facing security threats over their voting intentions in the House of Commons related to the Israel-Gaza conflict. The 43-year-old British Indian leader issued a statement on Saturday to condemn the hijacking of protests on the streets of the country by extremists to glorify terrorism. It came as a report in The Sunday Times' newspaper claims that three unnamed female MPs have been sanctioned additional security after concerns about their safety. "The explosion in prejudice and antisemitism since the Hamas attacks on the 7 October [2023] are as unacceptable as they are un-British. Simply put antisemitism is racism," said Sunak in his statement. "Legitimate protests hijacked by extremists to promote and glorify terrorism, elected representatives verbally threatened and physically, violently targeted and antisemitic tropes beamed onto our own Parliament ...

Free world united with Ukraine, says Sunak on Russian conflict anniversary

Prime Minister Rishi Sunak marked the second anniversary of the Russia-Ukraine conflict on Saturday with a pledge to renew the UK's determination to support the Ukrainians and declared the free world united in its response to President Vladimir Putin's illegal invasion of Ukraine. The British Indian leader reflected upon his recent visit to the Ukrainian capital of Kyiv when he announced a major package of defence aid to Ukraine, taking the UK's total support to GBP 12 billion. It comes as the UK Foreign, Commonwealth and Development Office (FCDO) pledged GBP 8.5 million in humanitarian funding allocations to the Red Cross Movement and the Ukraine Humanitarian Fund. When Putin launched his illegal invasion two years ago, the free world was united in its response. We stood together behind Ukraine. And on this grim anniversary, we must renew our determination, said Sunak in a statement from 10 Downing Street. I was in Kyiv just a few weeks ago and I met wounded Ukrainian soldiers. Eac

UK economy puts recession behind it but price pressures rise: PMI survey

That is likely to be a relief for Prime Minister Rishi Sunak who has had to endure taunts of "Rishi's recession" from the opposition Labour Party which is riding high in opinion polls

UK voters deliver double blow to Sunak, elect Labour lawmakers in polls

Voters in two districts in England delivered new blows to beleaguered Prime Minister Rishi Sunak, electing opposition-party lawmakers in seats that Sunak's Conservatives had held for years. Labour Party candidate Dan Egan won the House of Commons seats of Kingswood in southwest England, and Labour's Gen Kitchen took Wellingborough in the country's center, results announced Friday showed. The Conservatives won both by large margins at the last national election in 2019. The hard-right Reform Party came third, putting more pressure on the Conservatives. Labour leader Keir Starmer said the results show people want change. The results will likely worsen fears among Conservatives that, after 14 years in power, the party is heading for defeat when a national election is held in less than a year. The Tories consistently lag between 10 and 20 points behind Labour in opinion polls.

UK economy slips into recession; Japan loses third-largest economy title

Rishi Sunak, who came into power in October 2022, had made five major promises after assuming office, including taming down inflation and growing the United Kingdom economy

Totally up for the fight to win UK general election: PM Rishi Sunak

British Prime Minister Rishi Sunak has said he is totally up for the fight of pitching his policies to the electorate to win another term for the governing Conservative Party as he prepares for a general election expected to take place in the second half of the year. In an interview with The Times this weekend, the 43-year-old British Indian leader said he had reasons to be optimistic because the economy was pointing in the right direction and that the future is going to be better. At the beginning of this year there is a sense that the country is pointing in the right direction, he told the newspaper. Because economic conditions have improved, because the plan is working, you are starting to see mortgage rates come down and we have been able to cut taxes. I do believe those pressures are starting to ease and that hopefully over the course of this year, we can continue to make even more progress, he said. In a message as much for the voters as for the rebels within his own Tory ran

UK PM Rishi Sunak paid over half a million pounds in personal tax

British Prime Minister Rishi Sunak paid over half a million pounds in personal tax for the financial year 2022-23, Downing Street revealed on Friday as part of its transparency data release. The 43-year-old Indian-origin leader had indicated his plans to publish his tax returns. His tax assessment document shows he paid a tax bill of GBP 508,308, around GBP 75,000 more than what he paid in the previous financial year (2021-22). The tax documents show that Sunak made nearly GBP 1.8 million through capital gains up from GBP 1.6 million in 2021-22 as well as GBP 293,407 in other interest and dividends. All of the investment income and capital gains came from a US-based investment fund listed as a blind trust, according to the summary. He also earned GBP 139,477 during the year from his roles as a member of Parliament and Prime Minister including allowances for the use of 10 Downing Street. Prepared by accountancy service Evelyn Partners, the tax summary follows the publication of h

Parents wanted me to speak without an accent to fit in: UK PM on racism

Rishi Sunak, the UK's Indian-origin Prime Minister, has said that he experienced "racism" when he was a child and his parents sent him for extra drama lessons so that he could "speak properly" without an accent to "fit in". In 2022, Sunak scripted history when he was appointed by King Charles III as Britain's first Indian-origin Prime Minister after being elected unopposed as the new leader of the governing Conservative Party on Diwali. The 43-year-old former Chancellor of the Exchequer, a devout Hindu, is the youngest British prime minister in 210 years. He is also the first Hindu Prime Minister of Indian heritage in the UK. Speaking to ITV News, Sunak shared how his parents were so determined he should fit in and speak without an accent that he was sent for extra drama lessons. You are conscious of being different, he said. It's hard not to be, right, and obviously I experienced racism as a kid. Sunak also recalled the pain of hearing slurs directed at his younger siblings, add

UK's ruling party chairman hints at tax cuts in March and later in year

Finance minister Jeremy Hunt is due to set out his fiscal plans in an annual budget statement scheduled for March 6

UK to benefit from India's progress, says Indian Dy High Commissioner

Urging the UK to shed its "old lenses" and "see India for what it is", India's Deputy High Commissioner, Sujit Ghosh, on Wednesday said that London is "uniquely positioned" to benefit from New Delhi's rise. Ghosh was addressing the annual UK-India Parliamentary Lunch organised by the London-headquartered India Global Forum (IGF) here. The annual event brings together "leading figures from politics, business, finance, and culture over an informative sit-down lunch to celebrate the growing ties between our two great democracies," according to the IGF website. Ghosh spoke extensively about the growing UK-India ties, the vibrant digital economy, and opportunities in India, the IGF said in a post on the social media platform X. He said, India is not just creating opportunities for its people but also for the rest of the globe. The UK is uniquely positioned to benefit from India's rise." "The time has come for our friends in the UK to shed their old lenses and see India for what it is,"

Rishi Sunak's Rwanda migration bill suffers blow in Britain's Parliament

The upper house of Britain's Parliament has urged the Conservative government not to ratify a migration treaty with Rwanda. It's a largely symbolic move, but signals more opposition to come for the stalled and contentious plan to send some asylum-seekers on a one-way trip to the African nation. The House of Lords voted by 214 to 171 on Monday evening to delay the treaty that paves the way for the deportation plan. The treaty and an accompanying bill are the pillars of Prime Minister Rishi Sunak 's bid to overcome a block on the deportations by the UK Supreme Court. Members of the Lords, who are appointed rather than elected, backed a motion saying Parliament should not ratify the pact until ministers can show Rwanda is safe. John Kerr, a former diplomat who sits in the Lords, said the Rwanda plan was incompatible with our responsibilities under international human rights law. The considerations of international law and national reputation... convince me that it wouldn't be right to

India-UK FTA: 'Majority of issues closed or at advanced stage of talks'

Majority of the issues in the proposed free trade agreement (FTA) between India and the UK are either finalised or at an advanced stage of talks, a government official said on Monday. Additional Secretary in the Department of Commerce L Satya Srinivas said that the 14th round of negotiations between the officials of the two countries is underway here. "The majority of the chapters are either closed or at an advanced stage of negotiation. Discussions are being held at the higher level as well as at the team level to iron out differences," he told reporters here. The talks for the pact began in January 2022. The current round of talks is expected to be the final one. Talks are also progressing on the proposed Bilateral Investment Treaty (BIT). There are 26 chapters in the agreement, which include goods, services, investments and intellectual property rights. Issues from both goods and services are pending for conclusion. The bilateral trade between India and the UK increased to US

Sunak will face UK lawmakers over decision to join US strikes on Yemen

Four Royal Air Force Typhoon jets took part in last week's US-led strikes on sites used by the Iran-backed rebels, who have been attacking commercial ships in the Red Sea

RAF conducted 'targeted strikes' against Houthi rebel sites: UK PM Sunak

Sunak noted that Houthis in recent months have conducted a series of "dangerous and destabilising attacks against commercial shipping in the Red Sea

Ongoing India-UK FTA could be brought to successful conclusion: PM Sunak

Rajnath Singh and Rishi Sunak agreed on the need for the two nations to work together in trade, defence and technology sectors, Ministry of Defence said in a press release

Rajnath Singh meets Rishi Sunak in London during his first official visit

The Defence Minister is currently on an official visit to Great Britain. The visit marks the first visit by a sitting Indian Defence Minister to the UK in more than 20 years