Page 2 - Uk Govt

UK minister reiterates backing for India UNSC seat, praises PM Modi

The UK wants India to be among the new permanent members of the United Nations Security Council, alongside Brazil, Japan, Germany and African representation, British Foreign Secretary James Cleverly said on Monday. In his first major foreign policy speech since taking charge in the Rishi Sunak-led government, Cleverly praised Prime Minister Narendra Modi for his categorical anti-war message to Russian President Vladimir Putin as he went on to commit himself to working with India during its G20 presidency. "The UK wants to welcome Brazil, India, Japan and Germany as permanent members of the UN Security Council, alongside permanent African representation. Our aim is to uphold a historic shared achievement that benefits everyone," Cleverly said in his keynote speech entitled British Foreign Policy and Diplomacy' at the Foreign, Commonwealth and Development Office (FCDO) in London. "Putin's goal is to turn back the clock to the era when might was right and big countries could treat thei

UK, Italy, Japan team up to build sixth-generation fighter by 2035

Reports indicate the UK held talks with India on joining the coalition

UK to ease financial rules in post-Brexit shakeup to attract investments

Britain is easing banking rules brought in after the 2008 global financial crisis in a bid to attract investment and secure London's status as Europe's leading finance centre. Treasury chief Jeremy Hunt said Friday that the changes, which follow Britain's departure from the European Union in 2020, will make the UK one of the most open, dynamic and competitive financial services hubs in the world. The package of more than 30 changes includes lifting a cap on bankers' bonuses and easing capital requirements for smaller lenders. The government also said it will review regulations that hold bankers accountable for their decisions and will relax ringfencing rules intended to separate risky investment banking from retail operations. Hunt said the government was using Brexit freedoms to make Britain more competitive. But many economists point out that the U.K.'s departure from the EU has erected barriers to trade and led some firms to shift offices and jobs to other European cities. Last

European sanctions on Russian oil lead to a traffic jam on Turkey's coast

The government in Ankara is insisting the ships have a letter from their insurer guaranteeing cover while in Turkish waters -- something that's yet to happen

E-Visa facility resumes again for UK nationals travelling to India

For the first time since March 2020, India is all set to resume the e-Visa facility for UK citizens travelling to India, the High Commissioner of India to the UK announced in a video message on Monday

New UK govt examining our proposal, promised to come back soon: Narendran

We have highlighted to them our financial situation given the way things are in Europe, and we have been promised that they will come back soon

Force multiplier: Meet Lord Karan Bilimoria, India's voice in the UK

'An Indian living in London; but an Indian born and brought up in India: not a second generation Asian but a first generation immigrant - who's totally Indian but feels at home in both countries'

UK firms expect to raise prices 6% in 12 months, see inflation lingering

Inflation pressures in the UK economy showed only limited signs of abating in November, with companies expecting to raise prices by 5.7% in the coming 12 months

As British voters cool on Brexit, UK softens tone towards European Union

The British government on Sunday denied a report that it is seeking a Swiss-style relationship with the European Union that would remove many of the economic barriers erected by Brexit even as it tries to improve ties with the bloc after years of acrimony. Health Secretary Steve Barclay told Sky News I don't recognise the Sunday Times report, insisting the U.K. was still determined to use the Brexit freedoms we have by diverging from the EU's rules in key areas. Switzerland has a close economic relationship with the 27-nation EU in return for accepting the bloc's rules and paying into its coffers. The U.K. government said Brexit means we will never again have to accept a relationship with Europe that would see a return to freedom of movement, unnecessary payments to the European Union or jeopardise the full benefit of trade deals we are now able to strike around the world. But despite the denials, the new Conservative government led by Prime Minister Rishi Sunak wants to restore .

UK govt increases windfall tax on profits of oil, natural gas companies

Britain's Treasury chief says he's increasing the windfall tax on the profits of oil and natural gas companies as he announced an emergency budget aimed at restoring the nation's economic credibility and patching up its battered finances. Jeremy Hunt said Thursday that the windfall tax will rise from 25% to 35% from January 2024 to March 2028 and that electricity generators will have to pay a new temporary levy of 45%. He said the taxes combined would raise 14 billion pounds next year. Energy companies such as London-based BP and Shell have reported huge profits in recent months as Russia's war in Ukraine pushes up energy prices worldwide. Britain's government has faced pressure to increase taxes on oil and gas companies to help fund support for millions of Britons struggling to cope with soaring energy prices. Prime Minister Rishi Sunak, a former Treasury chief, introduced a 25% energy profits levy earlier this year but that was limited to profits made from extracting U.K. oil an

Deal activity has spiked in India despite global issues: Goldman Sachs MDs

In a Q&A, Rajat Sood and Som Krishna say their company isn't absolutely return-focused, but is a relative value investor that is looking out for bogh buyouts and minority stakes

Britain and Rishi Sunak

The new PM faces unenviable challenges ahead, but he is a testament to the progress Britain has made towards becoming a multi-racial society

Senior member of Rishi Sunak's govt resigns amid bullying allegations

A senior member of Prime Minister Rishi Sunak's government announced his resignation Tuesday night after mounting allegations that he bullied colleagues. Gavin Williamson announced his resignation as minister of state without portfolio in letter posted on Twitter, four days after the Times of London published expletive-laden text messages he sent to another member of Parliament. After that, a senior civil servant alleged that Williamson subjected them to sustained bullying, telling the individual to slit your throat on one occasion and jump out of the window" on another. In his resignation letter, Williamson said he had apologized for the text messages and was cooperating with an investigation of that conduct. But he rejected suggestions that the second incident involved bullying. I refute the characterization of these claims, but I recognize these are becoming a distraction for the good work this government is doing for the British people,'' Williamson wrote. I have therefore deci

Ukraine's President Zelensky wants Iran punished for helping Russia

"If it was not for the Iranian supply of weapons to the aggressor, we would be closer to peace now," Zelensky said Sunday evening in his daily address

UK PM Rishi Sunak to pledge accelerated renewables plan at COP27 summit

Sunak made a last-minute decision on Nov. 2 to participate in the climate talks, reversing a plan much criticised by environmental activists and political opponents to skip the annual gathering

United Kingdom to declare bank holiday May 8 to honour King Charles III

The United Kingdom will have another reason to celebrate the coronation of King Charles III, for the government has declared a special public holiday to mark the occasion. The holiday will be on Monday, May 8, capping a three-day weekend that will begin with the coronation. The coronation of Charles' late mother, Queen Elizabeth II, was also marked with what is known as a bank holiday in Britain. The coronation of a new monarch is a unique moment for our country. In recognition of this historic occasion, I am pleased to announce an additional bank holiday for the whole United Kingdom next year,'' new Prime Minister Rishi Sunak said. I look forward to seeing people come together to celebrate and pay tribute to King Charles III by taking part in local and national events across the country in his honor. Charles will be crowned on May 6 at Westminster Abbey in London. His ceremony will be designed to preserve the historical traditions of the monarchy while looking to the future followi

What to expect in UK Chancellor Jeremy Hunt's plan to fix fiscal hole

Prime Minister Rishi Sunak's finance minister is trying to identify £50 billion ($56 billion) of spending cuts and tax increases to get debt falling as a proportion of gross domestic product

UK govt has 'no plans' to relocate Israel embassy to Jerusalem, says report

The United Kingdom has "no plans" to relocate its Israel embassy to Jerusalem, Al Jazeera reported citing a spokeswoman for Prime Minister Rishi Sunak

Bank of England raises rates by most since 1989 even as recession looms

Central bank raises bank rate to 3% from 2.25%

Rishi Sunak more than 6,000 times richer than average Indian in UK

With a fortune worth £730 million, Sunak's wealth far exceeds that of Indians living in the UK