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Business News7 September 22, 12:11 am IST

INDIA IS TRUSTED PARTNER OF THE WORLD

Piyush Goyal also said that growth rates in India suggest that the country will become a $30 trillion economy in 30 years

Floods, economic crisis and political bickerings: A saga of Pakistan’s mismanagement & insensitivity

Business News6 September 22, 1:01 am IST

Heavy rainfall pounds B’luru

Bengaluru reeled under severe waterlogging, as incessant heavy rainfall lashed the city. Waterlogging led to traffic jams and disruptions in the lives of normal people in...

Business News6 September 22, 1:00 am IST

K’taka pontiff found dead at his Mutt, suicide note found

Allegedly pained at his name being dragged into an audio linked to sex scandal of Chitradurga Murugha mutt seer, Guru Madivaleshwara Mutt pontiff Basava Siddalinga Swamiji...

Liz Truss has been named as the new Conservative leader on Monday afternoon — and she will become UK PM on Tuesday. Truss takes the helm of a country in the grip of a cost-of-living crisis after seeing off the former chancellor’s challenge with support from 81,326 party members, compared to Rishi Sunak’s 60,399, Daily Mail reported. The 57 per cent to 43 per cent result — closer than some had expected — was announced by 1922 committee chair Sir Graham Brady in a glitzy ceremony at the QE2 Centre in Westminster, the report said. Truss said it is an ‘honour’ to be the leader of ‘greatest political party on Earth’. “I know that our beliefs resonate with the British people, I campaigned as a Conservative and I will govern as a Conservative... I will deliver a bold plan to cut taxes and grow our economy,” she said. She added: “We will deliver a great victory for the Conservative Party in 2024.” PM Modi congratulated Liz Truss on being chosen to be next PM of UK with resounding support. In a tweet, PM Modi expressed confidence that the India-UK Comprehensive Strategic Partnership will be further strengthened. Modi tweeted, Congratulations @trussliz for being chosen to be the next PM of the UK. Confident that under your leadership, the India-UK Comprehensive Strategic Partnership will be further strengthened. Wish you the very best for your new role and responsibilities. Truss also paid tribute to Boris Johnson, who will formally hand over power to her on Tuesday, saying he “got Brexit done, crushed Jeremy Corbyn, rolled out the vaccine, and stood up to Vladimir Putin”. But the new premier faces one of the toughest in-trays in decades, with inflation fears mounting as gas prices soar again and the Pound slides further. Speculation is growing that Truss will opt for a bold furlough-style move to freeze energy bills - possibly by loaning companies money to hold down costs. Wholesale gas prices rocketed by around 30 per cent today, following Russia’s decision to shut down a key gas pipeline, Daily Mail reported. Truss got “frustrated” after she was “compared to Margaret Thatcher”. When asked whether she models herself on the former Tory prime minister, she disagreed with the accusation, saying: “I don’t accept that, I am my own person”. Aged nine, she played Thatcher in a mock election at school, the BBC reported. She apparently got “zero votes — I didn’t even vote for myself”. Truss has worked for three former prime ministers. She was promoted by David Cameron to environment secretary and worked as justice secretary under Theresa May. She was eventually made foreign secretary by Boris Johnson in 2021. Truss will become the third female Prime Minister of UK. All female prime ministers so far have been Conservative. Truss is 47, married and has two daughters. After university she worked as an accountant for Shell, and Cable & Wireless, and married fellow accountant Hugh O’Leary in 2000. The family lives in Thetford, Norfolk, the BBC reported. Before she entered the leadership contest, many knew her from a speech to the Tory Party Conference in 2014 where she enthusiastically promoted British cheese and pork. • During a hustings in Gloucestershire, Truss insisted that she was in Derbyshire. • At a TV debate, Truss first said she would “continue to stand up for Vladimir Putin”, only to quickly correct herself to say, “to Vladimir Putin”. • Truss raised many concerned eyebrows when she said she was “ready” to hit the nuclear button if needed. • In barbs directed at the Scottish First Minister, Nicola Sturgeon, Truss described her as an “attention seeker”. • Sunak’s personal ratings shot up immediately after he resigned, but Conservative members turned against him as the contest progressed – 22% of them viewed him as a backstabber for causing Boris Johnson to resign. • Last month, a video of Sunak admitting to taking money from deprived urban areas dented his reputation.

Business News6 September 22, 12:57 am IST

SUNAK FAILS TO GRAB UK TOP POST

PM-in-waiting Liz Truss garnered 81,326 votes as compared to Sunak’s 60,399 votes

Business News6 September 22, 12:43 am IST

WHY CHINA IS WARY OF ‘INS VIKRANT’

Commissioning of the largest ship India had ever built in its maritime history, is a clear message to China and Pakistan that its Navy is all...

Business News6 September 22, 12:38 am IST

India provided $4 bn financial assistance to Sri Lanka

India on Sunday highlighted its constructive and significant role in human-centric globalisation at the United Nations General Assembly and said that it had provided nearly USD...

Housing finance firms’ AUM to grow 10-12 pc

Business News6 September 22, 12:38 am IST

Indiabulls to raise Rs 1K cr via public issue of bonds

Indiabulls Housing Finance Ltd plans to raise up to Rs 1,000 crore, which includes Rs 900 crore through issue of public issue bonds. The Tranche II...

India’s Aatmanirbhar policy is worth its cost

Business News6 September 22, 12:35 am IST

SBI to raise Rs 7K cr via Basel-III AT1 bonds

State Bank of India (SBI) plans to raise up to Rs 7,000 crore, which includes Rs 5,000 crore in greenshoe through Basel-III Additional Tier-I bonds, market...

Business News6 September 22, 12:34 am IST

Crypto exchanges to report sanction breaches

Crypto exchanges are now required to notify the UK authorities of any suspected sanctions violations under new regulations introduced in response to concerns that bitcoin and...

Business News6 September 22, 12:33 am IST

Rel Power to raise debt of Rs 1,200 cr

Reliance Power along with its subsidiary entered into a Memorandum of Understanding (MoU) with Varde Partners for availing debt of up to Rs 1,200 crore (around...

Business Guardian

INDIA IS TRUSTED PARTNER OF THE WORLD

Heavy rainfall pounds B’luru

K’taka pontiff found dead at his Mutt, suicide note found

SUNAK FAILS TO GRAB UK TOP POST

WHY CHINA IS WARY OF ‘INS VIKRANT’

India provided $4 bn financial assistance to Sri Lanka

Indiabulls to raise Rs 1K cr via public issue of bonds

SBI to raise Rs 7K cr via Basel-III AT1 bonds

Crypto exchanges to report sanction breaches

Rel Power to raise debt of Rs 1,200 cr

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