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Can Nikki Haley Break Trump’s Grip?

Trump’s absolute dominance in the Iowa primary, narrow win in New Hampshire, seems to have instilled an aura of invincibility around his primary campaign. …writes TN Ashok

Nikki Haley, the fiercest challenger to ex-president Donald Trump in the GOP 2024 primary, banks on the most unlikeliest of ally, Democrats, who might flip, to vote for her on her home turf South Carolina, to stop Trump’s bull run in the presidential race.

Nikki Haley, the former UN ambassador appointed by Trump himself, will try to slow down Trump’s seemingly inevitable march toward the GOP nomination. Haley is banking on a bloc of home state voters she’s never needed to court before, the Democrats, media reports said.

Trump’s absolute dominance in the Iowa primary, narrow win in New Hampshire, seems to have instilled an aura of invincibility around his primary campaign. Haley hopes to pierce that and salvage an sense of viability past South Carolina, and she is planning to expand her coalition beyond anti-Trump Republicans and independent-minded voters – a task that would almost certainly include at least small pockets of Democrats not sold on re-electing President Joe Biden or those willing to switch sides to try to stop Trump from getting the GOP nomination, NBC reported.

The political maths is being made more complicated by the incentive for Biden and Democrats to generate a “monster turnout” after making South Carolina the party’s first sanctioned nominating contest, and there is less evidence of any cross voting in the Palmetto State.

“Democrats do not vote in Republican primaries here, just like Republicans won’t vote in Democratic primaries,” said former South Carolina Republican Party Chairman Katon Dawson. “We tried and tried and tried, I spent money doing it. We found there was not much there.”

Haley says she does not “have to win” her home state of South Carolina but needs “momentum”. In both New Hampshire and Iowa, Haley faced criticism from opponents that she was targeting Democrats to offset her disadvantage with Republican primary voters, an idea her campaign has rejected. Officials have not, however, disputed that they are trying to expand the Republican base.

“The Republican Party has to be a story of addition again, not subtraction. Trump lost races we should have won in 2018, 2020 and 2022,” Haley spokeswoman Olivia Perez-Cubas said. “If Republicans want to start winning again, we have to start bringing in new voters, including conservatives, independents and Democrats who are fed up with Joe Biden.”

Some Republicans feel there are still three weeks between the Democrats’ primary on Saturday and the Republicans’ February 24 primary that creates a unique opportunity for Haley to pick up voters who might not ordinarily vote in a GOP primary.

In South Carolina, people can vote to take part in either party’s primary. So if a voter does not cast a ballot in the Democratic primary, Haley’s team will have three weeks to crunch the numbers and come up with a plan to target the exact set of voters who have yet to vote in the state, NBC said.

“Haley should absolutely look to turn out every voter possible in the primary, and with the democratic Presidential Primary being held three weeks prior, there should be ample time to identify those who did not vote in the primary and encourage them to vote in the Republican Primary,” said Alex Stroman, a former executive director of the South Carolina GOP.

He said South Carolina not requiring party registration “gives us the best candidates to win general elections.” Haley needs to juice turnout among those independents, moderates and true Republicans to improve on her results in New Hampshire and launch her into Michigan and then Super Tuesday states,” Stroman said referring to the March 5 round of primaries in 16 states.

Jay Parmley, executive director of the South Carolina Democratic Party, said they have heard from some Democrats planning to vote for Haley. “Yeah, we have heard that is happening. It might be smart for Haley, but it’s stupid for Democrats to vote in the Republican primary,” he said.

“She is just as bad as Donald Trump. My call to Democrats is, ‘If you didn’t vote for her as governor, why you would vote for her as the nominee.?”

“We are doing everything we can to talk to Democrats and get them to vote. Now we have some saying they may vote for Haley to try and stop Trump,” Parmley added. “That’s just stupid’.”

Haley has portrayed herself as the eager beaver politician ready to take head on the establishment in both political parties, an opportunity she has in her home state. Both the Biden and Trump camps have signalled to Haley to drop out so that they can turn their focus to a general election matchup they view as already set. On the night of the New Hampshire primary, Biden said in a statement that it is “now clear” that Trump will win the GOP nomination.

Democratic strategists say they expect many of their party’s voters to cast ballots for Biden on Saturday, making them ineligible to participate in the Republican primary three weeks later. Moreover, there’s little love lost between Haley and Democrats in the state she governed from the political right.

“There is no major effort by Democrats to vote for Nikki Haley. She was not good for us when she was governor. So there’s no need to think she would be good for us as president,” said Clay Middleton, a long-time Democratic operative who is serving as a senior adviser to the Biden campaign in South Carolina.

‘Our goal as a campaign is to make sure that we contact voters and show them, remind them, what the president has done for South Carolinians and for African Americans, in particular, and show that appreciation by voting on February 3.”

Middleton noted that Biden, Vice President Kamala Harris and “a slew” of top surrogates have visited the state in recent weeks, a group that includes Democratic National Committee Chairman Jaime Harrison, a South Carolina native, California Gov. Gavin Newsom and Rep. Ro Khanna, D-Calif. Biden spoke at a ‘First in the Nation’ dinner Saturday in Columbia, which highlighted his decision to make South Carolina’s primary the opening contest on the party’s calendar.

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-Top News UK News

UK Mortgage Rates Fall For First Time Since 2021

Net mortgage approvals for house purchases rose from 49,300 in November to 50,500 last month — the highest reading since June…reports Asian Lite News

UK average mortgage rates fell for the first time in over two years, according to data from the Bank of England, suggesting that the burden on homeowners is easing as lower borrowing costs filter through.

The data, released on Tuesday, adds to signs of stabilisation in the property market as mortgage approvals rose for the third consecutive time to a six-month high in December.

The BoE data also showed the “effective” interest rate — the actual interest paid — on newly drawn mortgages fell by 6 basis points to 5.28 per cent in December, marking the first drop since November 2021.

“There are green shoots of a recovery in the housing market and perhaps the wider economy,” said Ashley Webb, economist at the consultancy Capital Economics. 

Net mortgage approvals for house purchases rose from 49,300 in November to 50,500 last month — the highest reading since June.

Meanwhile, net approvals for remortgaging also increased from 25,700 in November to 30,800 in December, in a further sign that activity is returning to the property market.

Mortgage approvals offer an early indication of the health of the housing market. The latest figures will be closely monitored by policymakers ahead of the upcoming BoE Monetary Policy Meeting on Thursday.

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-Top News Arab News UAE News

Investopia, London Stock Exchange explore fintech ties

Bin Touq emphasised the strong historical ties between the UAE and the UK…reports Asian Lite News

Abdulla bin Touq Al Marri, Minister of Economy and Chairman of Investopia, participated in the market close ceremony at the London Stock Exchange (LSE). He visited the LSE headquarters in the British capital to discuss partnership opportunities, exchange experiences, and promote investments in financial services and cutting-edge fintech.

Julia Hogget, CEO of the London Stock Exchange, received him in the presence of Michael Mainelli, Lord Mayor of the City of London, and several representatives from government bodies, the private sector, and financial services companies from both countries.

Bin Touq emphasised the strong historical ties between the UAE and the UK. These relations have been continuously evolving across various fields in light of the commitment of both leaderships to driving them to new heights of prosperity and advancement.

He highlighted that the fintech and financial services sectors are key components of the economic cooperation agenda between the two nations.

The visit to the London Stock Exchange strengthens opportunities for collaboration in activities and businesses related to financial markets and cutting-edge digital solutions. It also served as a platform to exchange best practices in these crucial areas and facilitate access for business communities in both countries to promising prospects, particularly in new economy sectors.

The UAE economic delegation, headed by the Minister of Economy, visited the London Stock Exchange as part of their official visit to the United Kingdom. During this visit, a new edition of Investopia Global Talks titled ‘Investopia London’ will be held in cooperation with the HM Treasury, under the theme “UAE-British Financial Services: Partnership for the Future,” in collaboration with the HM Treasury.

In October 2023, the UAE and the UK entered into an agreement to strengthen collaboration and partnership in financial services. The aim is to enable the private sector, startups, and entrepreneurs from both countries to access market opportunities and exchange expertise in financial market activities. These include innovative and cutting-edge financial services, green finance, and more.

Investopia plays a key role in implementing the outcomes of this agreement by fostering cooperation between the UAE and the UK, with a specific focus on stimulating global investments in sectors of new economy such as finance, banking, and advanced financial technology.

Investopia remains committed to fostering stronger connections between the global investment community, government entities, business leaders, thought innovators, and experts. This collaboration aims to expedite the flow of capital and broaden investment prospects in emerging sectors, ultimately enhancing economic growth at regional and global levels.

The third edition of Investopia Summit will be held in Abu Dhabi on 28th and 29th of February 2024. It will feature various events and activities, including bilateral meetings and discussion sessions between representatives of global and regional governments, investors, private sector companies, and research and academic institutions.

The summit aims to explore investment opportunities in the UAE market and regional and global markets. Additionally, it aims to highlight the economic shifts that have occurred globally, prompting countries to invest in new sectors of the economy. It also seeks to foster cooperation in areas such as sustainability, the green economy, circular economy, talent investment, clean energy, and new technologies for financial services.

ALSO READ: ‘Systematic campaign’ against UNRWA: Arab League

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-Top News UAE News UK News

UAE, UK explore strengthening economic partnership

The meeting took place during a UAE delegation’s visit to the UK to participate in Investopia London, which will be held on January 31, 2024…reports Asian Lite News

In a bid to enhance economic ties between the UAE and the United Kingdom, Abdulla bin Touq Al Marri, Minister of Economy, recently met with Greg Hands, British Minister of State (Department for Business, Energy Industrial Strategy). The bilateral meeting explored new opportunities for economic and investment cooperation, as well as new avenues for deepening collaboration at the private sector level.

The meeting took place during a UAE delegation’s visit to the UK to participate in Investopia London, which will be held on January 31, 2024. The event, organised by Investopia, will bring together over 200 participants, including the UAE and UK leaders, businessmen, investors, and entrepreneurs.

Bin Touq emphasised that the UAE-UK relations serve as a prime example for advanced strategic ties and exceptional economic partnership, thanks to the visionary leadership in both countries. He highlighted the UAE’s commitment to strengthening economic cooperation with the United Kingdom, particularly in emerging sectors that drive the transition towards the future economy. These sectors hold significant importance since both nations share common visions and economic strategies aimed at driving expansion and investment in these future sectors.

The minister said: “The meeting marks a significant milestone in boosting efforts to explore more opportunities and broaden the scope of existing cooperation between the UAE and the UK, particularly in relevant economic sectors. The UAE has a vital role as the UK’s primary economic partner in the region, thanks to its strategic geographic location. Likewise, the UK serves as a promising economic hub for UAE businesses in Europe.”

The two sides discussed strengthening prospects for economic partnerships and facilitating dialogue between the UAE and British private sectors. This will open up new avenues for cooperation, especially given the diversity of economic opportunities in both markets and the possibility of providing more facilities and incentives to exporters and importers in the two countries, thereby supporting the growth and sustainability of both economies.

Bin Touq highlighted the UAE’s vision to promote economic openness and build fruitful partnerships with leading regional and global strategic markets. He also underscored its vital role in supporting major economic clusters, which will shape the future of the global economy. These efforts are supported by the UAE’s position as a competitive and vibrant economic hub, which offers direct connectivity to more than 400 cities around the world and boasts extensive shipping lines connecting 88 ports worldwide.

To this end, the Minister of Economy held a bilateral meeting with Bim Afolami, Economic Secretary to the Treasury, to discuss strengthening cooperation in the sectors of fintech, digital transformation, entrepreneurship, circular economy, financial services and renewable energy.

During their meeting, the two sides shared views on leading global entrepreneurship practices. They also discussed ways to strengthen bilateral cooperation and support SMEs in the markets of the two countries, empowering them with possibilities to enhance growth, financing mechanisms and competitiveness in various UAE-British economic activities and to expand into foreign markets.

Moreover, the meeting saw the exchange of experiences in the development of flexible economic policies and their role in promoting the growth and sustainability of the two countries’ economy. Bin Touq reviewed the UAE’s advanced economic legislative system and its role in enhancing the competitiveness of the national business environment and consolidating its leadership regionally and globally. These include the promulgation and development of new legislation for the sectors of cooperatives, commercial transactions, commercial registry, and family businesses; the granting of 100% foreign ownership to companies; facilitating business establishment procedures; and promoting openness to the world by establishing international partnerships with targeted strategic markets. In addition, he drew attention to the UAE’s promising investment opportunities in the sectors of tourism, family businesses, e-commerce, manufacturing, sustainable transport, and technology.

ALSO READ: ‘Systematic campaign’ against UNRWA: Arab League

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-Top News Arab News UAE News

Sheikh Mohammed tours Arab Health 2024

H.H. Sheikh Mohammed also highlighted public-private partnerships as a major contributor to the enhanced efficiency of the country’s healthcare sector….reports Asian Lite News

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai today toured the 49th edition of Arab Health, the largest healthcare exhibition in the Middle East and North Africa (MENA) region.

During the tour, His Highness said that a comprehensive medical system and collaboration between local and federal government entities in the UAE, as also the private sector, have ensured that citizens and residents alike enjoy access to the best healthcare services.

His Highness also highlighted public-private partnerships as a major contributor to the enhanced efficiency of the country’s healthcare sector, bolstering its overall competitiveness and supporting its growth with cutting-edge technologies, advanced facilities and highly qualified personnel. These advancements contribute to the overall well-being of society, ensuring the best of health and quality of life for one and all.

Sheikh Mohammed said that providing best-in-class healthcare services ranks high among the UAE’s development priorities along with the happiness and wellbeing of its people, with these plans serving not only UAE residents but people from all around the region and, indeed, every corner of the world. Arab Health provides an ideal platform to share successful experiences and practices in this regard, His Highness said welcoming exhibitors and attendees who have flocked to Dubai to share ideas and learn about the latest advancements in the medical field.

Being held at the Dubai World Trade Centre from 29 January until 1 February 2024, the exhibition features over 3,400 exhibitors, more than 40 international pavilions, and over 180 participating countries. Visitors to the event have an incomparable opportunity to network, learn about cutting-edge healthcare technology and new medical insights, and strike up meaningful business connections.

His Highness visited pavilions of Siemens Healthineers, Cleveland Clinic, Canon, and Pure Health where he was briefed about the latest services and products offered by the companies. He also visited the Italian pavilion at the exhibition.

Arab Health 2024 features nine distinct sectors, namely Medical Equipment Devices, Disposables Consumer Goods, Orthopaedics Physiotherapy, Imaging Diagnostics, Healthcare General Services, IT Systems Solutions, Healthcare Infrastructure Assets, Wellness Prevention and Healthcare Transformation.

Arab Health advances healthcare sustainability

The Smart Hospital and Interoperability Zone at Arab Health 2024 began this morning with a high-level panel discussion on environmental sustainability in Middle Eastern healthcare. This pivotal session brought together industry leaders and experts to explore strategies for integrating sustainability into the region’s healthcare systems.

In 2023, the Department of Health – Abu Dhabi (DoH), the regulatory authority for healthcare in the Emirate, set out ambitious healthcare sustainability goals. These objectives aim to reduce carbon emissions by 20 percent by 2030 and achieve Net Zero emissions by 2050. The initiative aims to establish a clear roadmap for sustainable healthcare progress, fostering alignment across the ecosystem.

During the session, Jacqui Rock, Chief Commercial Officer of the National Health Service (NHS) England, said, “It is about working hand in hand with innovative suppliers, and embracing the phenomenal MedTech out there. While the new technology coming out is mind-blowing, we must always ask how this technology will affect sustainability and the greener agenda. This is something in the NHS we are pushing hard for.”

Con McGarry, Senior Consultant, Arcadia Health, said, “How do you demonstrate to people that the actions they are putting in have a visible impact? We should be collecting all the data into a central performance management system to enable meaningful conversations about what we are doing and whether we are doing it correctly and taking the correct actions.”

Richard Cantlay, Global Healthcare Leader, Mott MacDonald, stated, “This is a cycle that needs to be broken. When you stand back and think about the narrative, which is that health systems are leading to climate change, which is giving people poor health, which is, in turn, increasing demand – it is obvious that healthcare systems need to deal with the issue of sustainability.”

The organisers of Arab Health, Informa Markets, have made several additions to the exhibition to make it more sustainable, including utilising renewable electricity, notably decreasing the event’s carbon footprint. Additionally, a range of eco-friendly practices have been introduced, such as endorsing public transportation through marketing channels and implementing digital solutions like digital badges and paperless registration to minimise material waste. The introduction of the Better Stands programme has further incentivised exhibitors and partners to embrace reusable stand structures.

Arab Health 2024, which continues until Thursday 1st February 2024 at the Dubai World Trade Centre, will showcase groundbreaking technologies at the Smart Hospital and Interoperability Zone, offering immersive demonstrations highlighting the seamless integration of cutting-edge medical equipment and various technologies. Partnering with Cleveland Clinic Abu Dhabi, the Zone features four demonstration rooms spotlighting advancements in labour and delivery, intensive care, and more.

Among the innovative exhibitors at the Zone is e4life, a joint venture between Italian ELT Group and Australian Lendlease, showcasing a device that protects against respiratory viruses with over 90 percent efficacy by instantly sanitising the surrounding area. Additionally, CareCloud is showcasing a therapy solutions suite that streamlines the entire therapy workflow, enhancing patient engagement and boosting operational efficiency.

Arab Health 2024 anticipates a global audience with over 3,450 exhibitors and over 110,000 healthcare professional visitors from 180 countries.

The event is supported by various government entities, including the UAE Ministry of Health and Prevention, the Government of Dubai, the Dubai Health Authority, the Department of Health, and the Dubai Healthcare City Authority.

ALSO READ: ‘Systematic campaign’ against UNRWA: Arab League

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-Top News UK News

UK shop price inflation drops sharply

Despite increasing from 3.9 per cent in November, December’s inflation rate was still well below the multi-decade high of 11.1 per cent reached in October 2022…reports Asian Lite News

UK shop price inflation eased sharply in January to its lowest rate in almost two years as retailers heavily discounted goods during a weak sales period, industry data showed.

The British Retail Consortium said on Tuesday annual shop price inflation slowed to 2.9 per cent in January, down from 4.3 per cent in December. It is the seventh consecutive monthly decline and the lowest rate since May 2022.

Separate data also released on Tuesday by the research company Kantar showed grocery inflation declined more slowly to 6.8 per cent in January, from 6.9 per cent in the previous month.

The BRC index includes all retailers, while Kantar tracks supermarkets. The BRC said non-food prices were the primary drivers of the decline in January, and recorded a figure for food inflation of 6.1 per cent in January, down from 6.7 per cent in the previous month.

Both indices provide early indications of pricing pressures ahead of the publication of official data on February 14, and raise some hopes that underlying inflationary pressures are continuing to ease despite the uptick in the headline measure to 4 per cent in December.

The drop in shop inflation resulted from retailers offering “heavily discounted goods in their January sales to entice consumer spend amidst weak demand”, said BRC chief executive Helen Dickinson.

Despite increasing from 3.9 per cent in November, December’s inflation rate was still well below the multi-decade high of 11.1 per cent reached in October 2022.

Markets have been pricing in that the Bank of England will hold the benchmark interest rate at its 15-year high of 5.25 per cent on Thursday, but will start cutting rates in June as inflation is expected to slow towards the central bank’s 2 per cent target.

Dickinson noted that the price of milk and tea also fell in January compared with the previous month, while increased alcohol duties kept the cost of drinks elevated.

Non-food prices fell 1.4 per cent month on month, driving an overall annual decline across all categories, the BRC said. Annual non-food inflation slowed to 1.3 per cent in January, from 3.1 per cent the previous month, marking the lowest rate since February 2022.

Mike Watkins, head of retailer and business insight at NielsenIQ, who helped to compile the data, said: “Shoppers are seeing savings at the checkout with non-food retailers on promotion and food retailers continuing to reduce prices when the costs of goods fall.”

ALSO READ-UK population to hit 70 mn by mid-2026

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Sport Sports Woman

Checkmate Misogyny!

Young Indian prodigy Divya Deshmukh slams focus on looks and clothes over talent in Chess …reports Asian Lite News

Indian chess star Divya Deshmukh has called out the issue of sexism and misogyny in the sport following her participation in the Tata Steel Chess Tournament in Wijk aan Zee, the Netherlands.

The International Master finished 12th with a score of 4.5 out of 13 in the tournament that had players like Hans Niemann and Harika Dronavalli.

In her social media post on Sunday, Deshmukh expressed her disappointment at the way female players are often treated by spectators. She revealed that despite her strong performance and pride in her games, the focus of the audience was diverted to irrelevant aspects such as her clothes, hair, and accent.

“I have been wanting to address this for a while but was waiting for my tournament to be over. I got told and also myself noticed how women in chess are often just taken for granted by spectators,” Divya wrote in her Instagram post.

“I played a few games which I felt were quite good and I was proud of them. I got told by people how the audience was not even bothered with the game but instead focused on every single possible thing in the world: my clothes, hair, accent, and every other irrelevant thing.

“I was quite upset to hear this and I think is the sad truth that people when women play chess they often overlook how good they actually are, the games they play and their strength. I was quite disappointed to see how everything was discussed about in my interviews (by the audience) except my games, very few people paid attention to it and it is quite a sad thing.

“I felt it was unfair in a way because if I go to any guy’s interview there would be way less judgment on a personal level, actual compliments about the game and the player. I feel women are underappreciated, and every irrelevant thing is focused on and hated on while guys would probably get away with the same things.”

Addressing the broader issue faced by women in the chess community, she called for equal respect, emphasizing that women should not be judged based on irrelevant criteria but rather acknowledged for their skills and achievements.

“I think women face this on a daily basis, and I’m barely 18. I have faced so much judgment, including hatred over the years for things that don’t even matter. I think women should start getting equal respect,” Deshmukh concluded, shedding light on the need for a more inclusive and fair treatment of female chess players in the sport.

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-Top News Economy UK News

IMF warns Hunt against tax cuts

The IMF said it was forecasting UK growth of 0.5% in 2023 and 0.6% in 2024 – both unchanged from October – and with only Germany of the leading G7 industrialised economies expanding more weakly…reports Asian Lite News

The International Monetary Fund has issued a strong warning to Jeremy Hunt against cutting taxes in his budget in March, stressing the need to boost key areas of public spending instead.

In updated forecasts for the UK and the rest of the global economy, the Washington-based fund doubted whether the widely anticipated tax cuts would be possible without extra borrowing or post-election spending cuts.

The IMF said the chancellor should be focusing on repairing the public finances after the damage caused by the pandemic and the war in Ukraine in order to meet growing spending pressures.

An IMF spokesperson said: “Preserving high-quality public services and undertaking critical public investments to boost growth and achieve the net zero targets, will imply higher spending needs over the medium term than are currently reflected in the government’s budget plans.

“Accommodating these needs, while assuredly stabilising the debt/GDP ratio, will already require generating additional high-quality fiscal savings, including on the tax side.”

Hunt is expected to cut income tax in the budget, but the IMF called on the chancellor to increase carbon and property taxes, take steps to eliminate loopholes in the taxation of wealth and income, and overhaul the pensions triple lock. “It is in this context that [IMF] staff advises against further tax cuts,” the IMF said.

Hunt rejected the IMF’s call. “The IMF expect growth to strengthen over the next few years, supported by our introduction of the biggest capital investment tax reliefs anywhere in the world, alongside national insurance cuts to improve work incentives,” the chancellor said.

“It is too early to know whether further reductions in tax will be affordable in the budget, but we continue to believe that smart tax reductions can make a big difference in boosting growth.”

The IMF said it was forecasting UK growth of 0.5% in 2023 and 0.6% in 2024 – both unchanged from October – and with only Germany of the leading G7 industrialised economies expanding more weakly.

With lower inflation likely to boost consumer spending power, the IMF said it was pencilling in UK growth of 1.6% in 2025 – slower than forecast three months ago. “The markdown to growth in 2025 of 0.4 percentage points reflects reduced scope for growth to catch up in light of recent upward statistical revisions to the level of output through the pandemic period,” the IMF said.

Last year, the Office for National Statistics revised up its estimates of UK growth in 2020 and 2021 by 1.8 points in total across the two years.

The IMF said the global economy was gliding towards a “soft landing” after coping with the impact of tough central bank interest-rate action to reduce inflation.

Revising up its growth estimates for 2024, the IMF said a number of big economies – including the US, China, Russia and India – had posted stronger than expected performances in 2023 and it was surprised by the resilience shown.

ALSO READ-IMF upgrades 2024 global growth forecast to 3.1%

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-Top News UK News

Cleverly underlines commitment to cut net migration

From 4 April, the increase to the minimum salary required for those arriving on the Skilled Worker visa, from £26,200 to £38,700, will come into force…reports Asian Lite News

Measures to transform the UK’s legal migration system, bolster border security and drive down unsustainable and unfair levels of migration will come into force within weeks, the Home Secretary has announced today.

It comes after the Prime Minister and Home Secretary set out a major new package of reforms in December, delivering the biggest ever reduction in net migration and tackling exploitation across the immigration system.

The robust changes, which will curb abuse of the migration system, and ensure those choosing to make the UK their home can afford to do so, will begin to come into effect as early as March and will mean 300,000 people who came to the UK last year would now not be able to come.

The measures will crack down on rising migration, help curb the abuse of the Health and Care visa route, where we have seen people come to the UK for care worker jobs that do not exist or are paid significantly less than the required salary for a migrant worker on this route, and ensure British labour is not undercut by overseas workers.

Home Secretary James Cleverly said, “I’ve been clear that migration is too high and we must get back to sustainable levels. Last year I set out robust measures to reduce the numbers coming into our country – tightening the rules on care workers, skilled workers, and making sure that people can support their family members that they bring over. It is a firm approach, but a fair one, and gives those affected time to prepare whilst ensuring that migration comes down. The British people want to see action, not words. We are delivering the change we promised and which they expect, lifting pressure on public services and protecting British workers with the utmost urgency.”

Tom Pursglove MP, Minister for Legal Migration and the Border, said, “Our comprehensive plan to tackle net migration will not only bring numbers down substantially, but also tackles the inherent unfairness of a system which, if left untouched, would reward employers seeking to recruit cheap labour from overseas at the expense of the British worker. Delivering change on this scale and at such a pace is hard and challenging work, but we’re making strong headway, with further improvements to modernise and enhance the security of the UK border continuing throughout 2024.”

From 4 April, the increase to the minimum salary required for those arriving on the Skilled Worker visa, from £26,200 to £38,700, will come into force. This 48% rise will drive down numbers, reduce pressure on public services and prevent the undercutting of British workers by employers who look to recruit cheap labour from overseas. Workers on a Health and Care visa and on health and education national pay scales will be exempt from this specific threshold.

Meanwhile, the laying of the new Immigration Rules on 14 March will include the removal of the 20% going rate discount for occupations on the Shortage Occupation List, which will be abolished in favour of a new Immigration Salary List from early April. This follows a recommendation from the Migration Advisory Committee (MAC), which will now advise government on which occupations should be temporarily added to the new list initially, in time for March. 

ALSO READ-UK Lawmakers Pass Rwanda Bill as Part of Immigration Plan

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Business Tech Lite Technology

Real Estate Awaits Budget Boost

Pandemic Threat Looms, Income Drop May Dampen Demand, Impacting Affordable Segment & Tier II/III Real Estate….reports Asian Lite News

Following the robust recovery observed in the real estate sector in 2023, the industry, while still contending with challenges like elevated input costs and increasing interest rates, is eagerly awaiting the upcoming budget presentation by Finance Minister Nirmala Sitharaman.

Despite the prevailing optimistic sentiments, it is crucial to acknowledge specific challenges. The lingering threat of the pandemic persists, and a decline in income could potentially affect demand, especially in the price-sensitive affordable segment and real estate development in tier II and III cities.

Vidush Arya, Head – Strategy, Orris Infrastructure Pvt. Ltd. said, “We anticipate favorable norms aimed at lowering interest rates and introducing tax rebates, encouraging sustained development and investment. Additionally, we hope for increased budget allocation towards new infrastructural developments. This dual strategic focus aligns with the positive momentum already witnessed, further elevating the quality of life for the home buyers and investors.”

Amish Bhutani, Managing Director of Group 108 said, “A pressing need exists to stimulate the affordable segment. Incentivizing purchases through measures like income tax rebates is suggested. Commercial realty, aligning with the government’s entrepreneurship promotion vision, requires policy-level support. Streamlining interest rates and approval processes, akin to a single-window clearance system, is crucial to meeting the escalating demand in the real estate sector.”

Ashwinder R Singh, CEO Residential, Bhartiya Urban said, “The real estate scene had a defining moment in 2023, setting the stage for what’s expected to be an even more dynamic 2024. With a strong economy and potential adjustments in home loan interest rates, the sector anticipates a surge in demand. To align with the government’s vision of housing for everyone, crucial issues need attention. The upcoming budget is crucial, with the top wish being industry status for real estate. Key measures like simplified clearances, tax breaks, and GST adjustments are essential. There’s a call for a thoughtful plan for affordable housing, tapping into untapped potential and unmet demand. As we await the budget, all eyes are on the government’s proactive steps, hoping for a roadmap that boosts growth and resilience in the real estate sector.”

Rajjath Goel, Managing Director of MRG Group said, “The much-awaited industry status award would launch the real estate market into a new phase of expansion. Simultaneously, we hope that the government takes action to resolve significant problems such as the unchecked increase in input costs, particularly for basic materials like steel and cement. A streamlined clearance system is a paramount need for enhancing the operational efficiency of the real estate sector. This reform would help us cut through various levels of bureaucracy, ensuring faster project approvals and benefiting developers and prospective homebuyers.”

Rajesh K Saraf, MD, Axiom Landbase said, “NITI Aayog’s forecast of the Indian real estate sector reaching a $1 trillion market size by 2030 highlights its long-term prospects. The sector looks to the government for intervention in reducing input costs, specifically for steel, cement, and fuel. We also request the government to consider reducing the GST rate on cement and initiatives to promote affordable housing through tax incentives.”

Ajendra Singh. Vice President Sales and Marketing, Spectrum Metro, “2023 not only brought the real estate sector into the limelight but also highlighted the role of commercial realty as a growth driver. We have huge expectations from the forthcoming budget. One of the foremost demands is the availability of GST input tax credits for commercial real estate. We would also like the government to consider conferring infrastructure status to the sector, allowing us easier access to credit and lower financing costs. Decreasing the input costs, such as steel and cement, revising depreciation rates for commercial buildings that align with current market realities, and tax incentives for investments in green buildings and sustainable development projects are other expectations from the forthcoming budget.”

According to Ankit Kansal, Managing Director AXON Developer, “2024 will be an eventful year for Indian real estate, as, after a steady run, the market is set for a further jump. Meanwhile, the government and regulatory bodies need to play a more constructive, accommodating, and facilitating role. It needs to take steps, to reduce regulatory roadblocks, fuel market demand, and support the developer fraternity with fiscal and non-fiscal impetus. Meanwhile, GOI also needs to give attention to green and sustainable real estate in India, as its time has come. There have been a few prudent steps in the past in the form of lower tax rates, fast-tracking approvals, and reduced stamp duties to support sustainable realty. However more needs to be done in terms of bigger tax breaks, supporting green financing, and allocating larger funds towards sustainable infrastructure developments.”

Prateek Mittal, Executive Director of Sushma Group, expressed, “We believe that the forthcoming budget will include income tax benefits for our sector, with high hopes and expectations for the return of the CLSS scheme. Anticipating a stronger real estate market, we foresee fiscal support that recognizes the industry’s critical role in economic recovery. Affordable housing remains the focal point for inclusive growth, and we eagerly await government initiatives that promote and incentivize such projects. By addressing diverse housing needs, these initiatives are expected to transform the real estate landscape, contributing significantly to the nation’s social and economic fabric.”

Tejpreet Singh Managing Director of Gillco Group said, “As real estate’s contribution to India’s GDP is expected to rise to 13% by 2025, the forthcoming budget is eagerly awaited for sectoral rejuvenation. Key expectations include redefining affordable housing criteria, increasing carpet area limits, and significantly boosting affordable housing.”

According to Mukul Bansal, Managing Director, Motiaz, “2023 marked a successful year for real estate, showcasing the positive impact of low prices, low interest rates, and abundant supply. In the upcoming budget, initiatives such as raising the deduction limit under section 80C, addressing the industry status demand, and implementing a single window clearance system are crucial for realizing the country’s housing aspirations.”

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