Saturday, July 2

Day: October 1, 2016

PM May urged to speed up Brexit by ex-ministers
ENGLISH, United Kingdom

PM May urged to speed up Brexit by ex-ministers

    Theresa May is to make a major speech on Brexit at the Tory conference in Birmingham Tory former Cabinet ministers have ramped up pressure on Theresa May by presenting her with a "Brexit Blueprint" to take the country out the EU in less than two years. The plan, which presses for a "take it or leave it" approach to Brussels, was circulated ahead of the Prime Minister making a speech on quitting the bloc at the Tory party conference on Sunday. Mrs May has previously said she would not rush to show "rapid progress" in Brexit negotiations, insisting the process should be "sober and considered". She has already stated that Article 50, the formal mechanism for Britain leaving the EU, will not be triggered this year. However, the so-called Route Map for Brexit, proposed by ex-mi...
Why politics in trade is a bad deal
Asia, ENGLISH

Why politics in trade is a bad deal

    PM Modi has called a meeting on MFN status today. Business has always been hostage to India-Pak politics. If it isn’t mere noora kushti — the popular expression in both India and Pakistan for scripted wrestling matches with predetermined outcomes — it would seem odd that New Delhi should threaten to withdraw the Most Favoured Nation (MFN) status it granted to Pakistan back in 1996 — might as well go the whole hog and block all trade? But don’t rush to conclude that withdrawing MFN status will be a very potent — or even smart — pressure tactic. Not only does such a step seem hasty and unbecoming of a G20 country which, along with China, contributes the most to global economic growth, it also doesn’t make much economic sense. Pakistani imports are a minuscule 0.1% ($ 441 mil...
UN chief calls for urgent de-escalation about India and Pakistan war
ENGLISH, United Nation

UN chief calls for urgent de-escalation about India and Pakistan war

    The secretary-general has offered to play the role of mediator between the two nuclear-armed neighbours. UN secretary general Ban Ki-moon on Friday, 30 September, has called for urgent de-escalation of tensions between India and Pakistan. He has also offered to play the role of mediator between the two nuclear powers. A statement issued by Ban Ki-moon's spokesperson at the United Nations said that the secretary-general "is deeply concerned over the significant increase in tensions between India and Pakistan in the wake of the recent developments, in particular the reported cease-fire violations along the Line of Control (LoC) following an attack on an Indian army base in Uri on September 18." It also added that the UN chief has asked both the nations to "exercise maximum r...
New bedroom tax: Poor people lose hundreds of pounds a year
ENGLISH, United Kingdom

New bedroom tax: Poor people lose hundreds of pounds a year

    Poorest pensioners to lose hundreds of pounds a year in ‘new bedroom tax’ Thousands of poorer pensioners will be hit by a new “bedroom tax”, despite the Government’s promises to protect the elderly from the hugely controversial benefit cuts. They are poised to lose at least £300 a year because their homes will be deemed to be “underoccupied”, slashing their incomes or forcing them to move – away from family and friends, or to flats that are unsuitable for older people. In some cases, the financial pain will be greater – one housing association has identified pensioners in part of the North who are set to lose a staggering £1,700 a year. Over time, hundreds of thousands of pensioners will be affected by the little-noticed measure, which extends tough benefit restrictions in...
Foreign investment could from black money, inquiry start about property ownership as says London Mayor
ENGLISH, London

Foreign investment could from black money, inquiry start about property ownership as says London Mayor

    London Mayor Sadiq Khan has pledged to launch an investigation into foreign ownership of London property, amid worries that it is causing rising house prices and falling home ownership among Londoners. Sadiq Khan told the Guardian: “It’s clear we need to better understand the different roles that overseas money plays in London’s housing market, the scale of what’s going on, and what action we can take to support development and help Londoners find a home." Mr Khan campaigned on this issue of foreign ownership during the election campaign for mayor, arguing that developers should give Londoners "first dibs" on homes. He argued that the increase of foreign buyers was pushing up prices for Londoners, and many of these flats were "buy-to-leave" properties, acting as a safety d...