Page 15 - Uk

The Truss factor: Economy the biggest challenge for UK's new PM

Gargantuan challenges await her after the prolonged policy paralysis of the Boris Johnson era

Why Liz Truss is visiting Scotland to formally pledge as UK Prime Minister

Liz Truss, a onetime accountant who has served in Parliament for the past 12 years, will become Britain's prime minister on Tuesday when Queen Elizabeth II formally asks her to form a government. The ceremony, which will take place at a royal residence in Scotland, follows a bruising two-month contest to succeed Boris Johnson, who will formally offer his resignation to the queen shortly before Truss arrives to take up the mantle. The handover of power is governed by rules and traditions built up over the centuries, as the U.K. evolved from an absolute monarchy to a modern parliamentary democracy where the sovereign plays an important but largely ceremonial role as head of state. Here is a brief description of Tuesday's events and how Britain arrived at this point. HOW DID LIZ TRUSS BECOME PRIME MINISTER? Boris Johnson announced his intention to step down as prime minister and leader of the ruling Conservative Party on July 7, after dozens of Cabinet ministers and lower-level offic

Windfall profit taxes are pure economic populism and thus bad policy

Germany's government just became the latest to ingratiate itself with angry voters by promising a windfall tax on energy companies

Surpassing UK as 5th largest economy is a pleasure to behold, says PM Modi

Addressing the gathering, the Prime Minister paid homage to former President of India Sarvepalli Radhakrishnan, whose birthday is commemorated as Teachers Day across the country

Goan-origin Suella Fernandes Braverman to be next UK Home Secretary

She was Chairman of Cambridge Conservatives whilst studing at the University there. She was a post-graduate student at the Paris Sorbonne and speaks fluent French and Spanish

UK PM contender Truss promises to address energy bill problems if elected

UK PM contender Liz Truss promised to address energy bill problems right away if elected

UK approves second 'bivalent' booster for Omicron and Covid strain

The UK health authorities on Saturday approved a second bivalent vaccine to be used as a booster vaccine to target both the Omicron and original strain of COVID-19. The Medicines and Healthcare products Regulatory Agency (MHRA) said the updated booster vaccine made by Pfizer/BioNTech was found to meet its standards of safety, quality and effectiveness. The jab targeting two coronavirus variants has been approved for use in individuals aged 12 years and above. In each dose of the booster vaccine called Comirnaty bivalent Original/Omicron, half of the vaccine (15 micrograms) targets the original virus strain and the other half (15 micrograms) targets Omicron (BA.1). The clinical trial of the Pfizer/BioNTech bivalent vaccine showed a strong immune response against the Omicron BA.1 variant as well as the original strain, said Dr June Raine, MHRA Chief Executive. Bivalent vaccines are helping us to meet the challenge of an ever-evolving virus, to help protect people against COVID-19 ...

60% of British factories at risk of going under as energy bills soar

MakeUK, the lobby group for UK factories, said that nearly half of manufacturers have experienced a jump in electricity bills of more than 100% in the past year

SoftBank Group Corp to drop at least 20% staff at Vision Fund operation

The cuts will mostly be in the UK, US and China operations, which have the most headcount, said the people

UK PM race: Liz Truss rules out new taxes, energy rationing in last pitch

Truss made the commitments at the last Conservative Party leadership hustings in London on Wednesday, ahead of the victor being announced Sept 5

Rishi Sunak closes campaign on personal note with parents, wife Akshata

Rishi Sunak struck a personal note in the final hustings event before the election for a new Conservative Party leader and British Prime Minister concludes, as he thanked his parents and wife Akshata Murty for their support. Addressing a teeming concert venue at Wembley in London on Wednesday night, the Indian-origin former Chancellor could have been mistaken for a rockstar amid the loud cheers and screams of Rishi, Rishi. Given the sharp contrast between his booming welcome and that of his rival, Foreign Secretary Liz Truss, it was clear that at least for this audience Sunak was the winning candidate in the race to succeed Boris Johnson. This final hustings is special for me because the two people who inspired me to enter public service are actually here tonight my mum and dad, opened Sunak, as the cameras panned to the front row where his general practitioner father Yashvir and pharmacist mother Usha were seated with his wife Akshata. It was their example of service and what the

Rishi Sunak pledges to work 'night and day' as UK PM race enters finale

Rishi Sunak pledged to work "night and day" for the best country in the world as the election campaign to take over from Boris Johnson as the Conservative Party leader and the new British Prime Minister entered its final stage on Wednesday, with the very last hustings event set for London. Sunak reiterated his vision statement as the first British Indian to run for the top job at 10 Downing Street ahead of the final campaign event scheduled at a popular concert venue in Wembley on Wednesday evening. The former Chancellor will go head-to-head with his rival Foreign Secretary Liz Truss for one last time as they fight it out for any remaining Tory members yet to cast their ballots before voting closes on Friday evening. The 42-year-old former finance minister, who has focussed his campaign message on the urgency of getting a grip on inflation and countered 47-year-old Truss' claims that tax cuts are the answer to address the cost-of-living crisis crippling the UK economy, made a ...

Shop price inflation in the UK rises to 5.1%, highest rate on record

Food price increases hit 9.3% with milk, margarine and crisps seeing the biggest rises

Goyal reviews ongoing FTAs; deliberates ways to fast track negotiations

India is currently negotiating trade deals with developed nations such as the United Kingdom (UK), Canada and the European Union (EU).

Liz Truss cancels key interview saying she couldn't 'spare the time'

Liz Truss, the frontrunner in the race to be the UK's next Prime Minister, has pulled out of a key interview which was due to air as she could "no longer spare the time"

More UK energy aid to come under incoming leader, says Nadhim Zahawi

Zahawi's remarks come as economic headwinds build against the UK, with the Bank of England predicting a recession lasting more than a year amid surging inflation

24 foreign firms show interest in petroleum business in Sri Lanka: Minister

Twenty-four companies from India, the United Arab Emirates, Saudi Arabia, the US, China, Russia, the UK, Malaysia, Norway, and the Philippines are interested in the petroleum business in Sri Lanka

UK's Liz Truss considers 5% cut in VAT if she becomes PM: Report

The govt has been facing growing calls to provide immediate financial support to households struggling with squeezed budgets as energy bills jump 80% to an average of 3,549 pounds a year from Oct

UK to announce new support measures for population in September: Johnson

Outgoing UK Prime Minister Boris Johnson said on Friday that the government will announce new measures to support the population next month amid the pressure of rising energy bills

Indian industry welcomes UK's timely Scale-up Visa to attract professionals

Indian industry on Thursday welcomed the UK's new Scale-up Visa, which is aimed at attracting more skilled professionals from around the world, including India. The Federation of Indian Chambers of Commerce and Industry (FICCI) said the UK Home Office announcement directed at high-growth businesses to access a worldwide talent pool to boost their scale-up ambitions are well timed and likely to benefit many Indian businesses and also help UK companies tap into the vast Indian talent pool. Companies, including small businesses and those in the tech and financial services sectors that have achieved growth of 20 per cent or more in either employment or turnover year-on-year for at least three years and employed a minimum of 10 people at the start of those three years are eligible to sponsor workers under the new route. In the last few years, India has seen a large number of rapidly growing businesses from tech and financial services expand into the UK, said FICCI Director General Arun .