Indian-origin steel magnate Lakshmi N Mittal, until now based in Britain and a regular on the country's richest billionaires tally, has decided to quit the UK as the Labour Party-led government's feared tax shake-up for the super-rich nears, according to a UK media report on Sunday.
'It was diminishing even before Trump came to power.' 'The US was at the centre of the global economy. That position is going to become less and less important and less central.'
Iranian state media reports that Ayatollah Ali Khamenei's son, Mojtaba Ali Khamenei, has been appointed as Iran's new Supreme Leader by the Assembly of Experts, a move criticised by US President Donald Trump.
Indian refiners have access to only limited Iranian volumes compared with Russian oil, and even the barrels on offer come with 'too many hassles'.
A Bangladesh court has convicted former Prime Minister Sheikh Hasina and British MP Tulip Siddiq in a land scam case, sentencing them to imprisonment. The verdict also includes other government officials and Hasina's sister, raising questions about extradition and political motivations.
The deal shifts the US posture towards India from hostile to neutral, and that matters for growth, points out T T Ram Mohan.
Gold and silver prices are poised to maintain their record-setting rally in the coming week as investors focus on global inflation data and key macroeconomic indicators that shape central bank policy paths, analysts said.
Yunus will meet King Charles and see Keir Starmer in Downing Street during his four-day visit to the UK from June 10-13.
Sanctioning Russian oil would have led to a sharp surge in oil prices to above $80 per barrel levels, which would impact pump prices in the US ahead of midterm elections next year.
Whether Trump will actually press ahead with the oil sanctions remains unclear, since keeping Russian oil out of the world market risks high oil prices which could boomerang on the US economy and be damaging politically for Trump, points out Ambassador M K Bhadrakumar.
The statement did not name any country. But the US has often blamed India and China for purchasing Russian oil even when there are no tariffs on Beijing for it.
The rupee has held its ground against the US dollar in the 2025 calendar year so far, but depreciated significantly against the euro and pound. It fell by 6.83 per cent, and 5.44 per cent against the euro and pound respectively, as the two currencies strengthened significantly against the greenback during the period.
The UK government announced on Monday that it has facilitated London-based banking major HSBC to buy the embattled UK arm of Silicon Valley Bank for 1 pound, securing the deposits of more than 3,000 customers worth around 6.7 billion pounds. Santa Clara, California-based Silicon Valley Bank - which specialised in lending to technology companies - was shut down by US regulators on Friday in what was the largest failure of a US bank since 2008. According to experts, although the UK arm of SVB was small with only around 3,000 business customers, its collapse would have presented a risk for the tech sector which is seen as crucial to Britain's economic growth.
Commerce and Industry Minister Piyush Goyal on Tuesday expressed hope that India will conclude the proposed bilateral trade agreement (BTA) with the US by the fall or November this year. He said that "a little bit" of geopolitical issues overtook the trade matters in the negotiations for the pact between the two countries.
'Things may get much worse before they get better,' predicts Ajay Chhibber.
Communication channels between India and the US are open to resolve the ongoing tariff issues, and the glitch in trade ties is only temporary, given the long-term relationship between the two nations, government sources said on Wednesday. The US' 50 per cent tariffs on Indian exports to America came into effect from August 27, barring a few sectors.
An anti-graft panel in Bangladesh has launched an investigation against former prime minister Sheikh Hasina and her family in connection with the allegations of embezzling $5 billion in the Rooppur nuclear power plant, according to a media report.
India would neither succumb to the Americans on issues of national security, such as its defence ties with Russia, nor cede ground on its domestic interests in the agriculture and dairy sectors.
Hasina was set to travel to London from India but is now contemplating other options after the British government indicated she may not get legal protection in the UK against any possible investigation, they said.
The Mumbai-born gangster's nationality is listed as "Indian", with a recorded Indian passport which was subsequently revoked by the government of India and then goes on to list a string of Indian and Pakistani passports acquired by him and misused.
Pakistan's Interior Minister Rana Sanaullah on Tuesday said that former prime minister Imran Khan was arrested for causing loss to the national treasury in a corruption case.
The documents also alleged that Ibrahim's right-hand man Muhammed Iqbal 'Mirchi' Memon amassed huge properties in the UK.
It is high time the Indian government signalled discomfort with the UK providing refuge to those accused of financial crimes in India, states Jaimini Bhagwati.
A Pakistani court sentenced jailed former prime minister Imran Khan and his wife Bushra Bibi to 14 and 7 years in prison respectively after finding them guilty of corruption in the 190 million pounds al-Qadir Trust case. The verdict was announced in a makeshift court set up in Adila jail where Khan is currently lodged. Khan has been convicted for "corrupt practices" and "misuse of authority", while his wife has been convicted for "involvement in illegal activities". The court also ordered the confiscation of the land of Al-Qadir University set up by them. Supporters of Khan's Pakistan Tehreek-e-Insaf (PTI) party staged a protest outside Parliament House, demanding his release. Khan claims all cases against him were politically motivated.
Sunak joins fellow Indian-origin candidate Suella Braverman, the UK Attorney General who is among the early Tory MPs to announce her plan to contest.
A 2008-style bank run seems unlikely, but if it did happen, the sector is much better prepared.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
But there are fears that any reform could be reduced to tweaking because the tax is so lucrative.
The poll found that among those who voted for the Conservatives at the last election, 62 per cent said that party members had made the wrong choice when the race was shortlisted between Truss and Sunak.
Sharma was the president of the conference, the first since the Paris Agreement of COP21 that expected parties to make enhanced commitments towards mitigating climate change.
In a Twitter post last Friday, the 39-year-old son-in-law of Infosys co-founder Narayana Murthy is seen holding a bag of Yorkshire Tea along with the message: 'Quick Budget prep break making tea for the team. Nothing like a good Yorkshire brew.' It attracted a host of trolls and negative reactions, largely directed against the ruling Conservative Party but also targeted at Yorkshire Tea -- one of the UK's oldest tea brands.
A new chair in the memory of former Reserve Bank of India Governor IG Patel will be created at the London School of Economics and Political Science.
Rishi Sunak, the former UK chancellor of the exchequer, on Friday formally launched his leadership bid to succeed Boris Johnson as the new Conservative Party leader and future British prime minister.
Of the eight RBI governors who have held office since the 1991 economic liberalisation, Bimal Jalan had the longest stint and S Venkitaramanan, the shortest. Current Governor Shaktikanta Das will overtake Bimal Jalan before completing his second term in December, points out Tamal Bandyopadhyay.
The MP for Richmond in Yorkshire, married to Murthy's daughter Akshata, first entered the UK Parliament in 2015 and has fast risen up the Conservative Party ranks as a staunch Brexiteer who had back Johnson's strategy to leave the European Union.
Rishi Sunak on Monday is all set to make history on Diwali as Britain's first Indian-origin prime minister after being elected unopposed as the new leader of the governing Conservative Party, following Penny Mordaunt's withdrawal from the race.
Rajya Sabha proceedings were adjourned for the day as amid uproarious scenes with the opposition and treasury benches shouting slogans.
Following is the chronology of the main events illustrating Sunak's second shot at UK prime minister's post.
Britain's most high-profile Indian-origin woman Cabinet minister has demanded the sacking of her Labour election rival for posting "misogynistic" and "racist" tweets directed at her in which she was dubbed as a "village idiot" and "sexy bond villain".
Global trends, trading activity of foreign investors and movement of oil benchmark Brent crude would dictate terms in the domestic markets this week, analysts said. Equity markets, which fell nearly 3 per cent last week, may face volatile trends amid the monthly derivatives expiry on Thursday. "This week marks the September month Futures and Options (F&O) expiry, which is expected to bring about volatility in the market," said Santosh Meena, Head of Research, Swastika Investmart Ltd.
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