There has been widespread condemnation in the international community of a series of Christmas Day bomb attacks in Nigeria that killed almost 40 people. The White House said the attacks were “senseless violence” and the UK foreign secretary called them “cowardly”. Militant Islamist group Boko Haram said it carried out the attacks. A blast outside [...]
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US banking giant, Citigroup, has said it is to cut 4,500 jobs around the world in an effort to reduce its costs. The group has put aside $400m (£250m) to pay for the cuts, according to its chief executive Vikram Pandit. The money will be written down in the company’s fourth quarter results. It [...]
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The Union Finance Minister Shri Pranab Mukherjee said that the Indo-UK Economic and Financial Dialogue which was established in 2005 has contributed successfully in strengthening our bilateral relationship. He said that this exchange of views will go a long way in improving our understanding of each other’s position on issues of mutual concern. Shri Mukherjee [...]
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How do you prepare your perfect morning cuppa? Well, scientists have developed a mathematical formula for the ideal cup of tea, which is best when drunk exactly six minutes after it’s made. The optimum brewing time is two minutes, and the ideal amount of milk is 10 ml, according to the researchers at the University [...]
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Picture: Shishir Hathwar. Spelling the word ‘Hippopotomonstrosesquipe-daliophobia’ could stump many, but not 25-year-old Guinness Book record holder Shishir Hathwar, who can not only do it without batting an eyelid but in the reverse order as well. It is not just this word (which means fear of long words) but a number of others including ‘grotesqueness’ [...]
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Visa rules for ordinary people are being tightened with an annual cap for non-European Union nationals set to kick in soon, the “super-rich” would be able to literally buy their way into Britain under new plans to attract wealthy investors. Industrialists, willing to invest millions of pounds in Britain, would be required to spend only [...]
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The International Monetary Fund (IMF) has said that the global economy will grow faster this year than expected. The IMF revised up its growth forecast from 4.2% to 4.4%, but warned of a two-speed recovery as advanced economies grow slower than emerging ones. It said Europe’s economic health was weak, and said the size of [...]
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The UK’s economy suffered a shock contraction of 0.5% in the last three months of 2010, figures have shown. The severe weather hit activity in the quarter, but the Office for National Statistics (ONS) said even if the weather impact had been excluded, activity would have been “flattish”. The Chancellor, George Osborne, said the numbers [...]
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The 7th meeting of the Indo-UK Joint Economic & Trade Committee (JETCO) took place here today. The Indian delegation was led by the Shri Anand Sharma, Minister for Commerce and Industry and the UK delegation was led by Dr. Vincent Cable, Secretary of State for Business Innovation and Skills, UK. The area of discussion is [...]
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UK inflation jumped in December with the Consumer Prices Index (CPI) rising to 3.7%, up from 3.3% in November. Retail Prices Index (RPI) inflation – which includes mortgage interest payments – rose to 4.8% from 4.7%. The rise will put further pressure on the Bank of England to lift interest rates to curb rising inflation. [...]
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The UK is to put £40m ($62m) into a UN fund set up to respond to natural disasters. The money will fill two-thirds of the shortfall in the fund in a year when more than 260 million people in the world were hit by natural disasters. International Development Secretary Andrew Mitchell has also called for [...]
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The amount of new public sector borrowing hit a fresh record high in November, according to the Office for National Statistics (ONS). Net borrowing totalled £23.3bn last month, up from £17.4bn a year ago, and more than analysts had expected. The borrowing figure was pushed higher by increased spending on health, defence and the EU. [...]
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Bank of America has stopped handling payments for whistle-blowing website Wikileaks, joining several other major financial institutions. It said it acted because “Wikileaks may be engaged in activities that are… inconsistent with our internal policies for processing payments”. In response, Wikileaks urged its supporters to stop doing business with the bank – one of the [...]
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Unemployment in the UK increased by 35,000 in the three months to October to 2.5 million, the Office for National Statistics (ONS) has said. It is the first time that the jobless measure has risen for six months. The surprise increase was driven by public sector job losses, and pushed the unemployment rate up to [...]
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European Union states have underwritten their financial sectors with 4.5 trillion euros ($5.9tn; £3.8tn) of aid since the banking crisis hit. Top of the league is the UK, which pledged 850.3bn euros of support between October 2008 and October 2010. The figures come from the European Commission, which must approve state aid to the EU [...]
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