Britain announced a major overhaul of its planning system to boost growth and build 1.5 million homes in five years. Prime Minister Keir Starmer called the current planning system a "chokehold" on growth and pledged bold reforms. “The housing crisis means the dream of homeownership feels distant for many,” Starmer said. “Our plan puts builders, not blockers, first. We’ll fix the broken system, provide homes for working families, and drive growth.” The new plan requires local authorities to set housebuilding timetables within 12 weeks or face government intervention. It also in
Prime Minister Narendra Modi will visit Prayagraj on December 13 for a three-hour tour, The Indian Express reported. During his visit, he will inaugurate and lay the foundation for projects worth ₹7,000 crore. He will also perform a puja at the Sangam. PM Modi is set to arrive around 11 am and will travel from Arail Ghat to Quila Ghat on a hybrid electric catamaran named after Nishadraj, which he previously launched in Varanasi. Most of the projects are linked to road and corridor development, with a key highlight being the Shringverpur Dham corridor. Known as the “Kingdom of Nishad
The Indian government will require clean energy firms to use locally made solar cells in government projects from June 2026. The Renewable Energy Ministry announced that only solar cells from an approved list of companies will be allowed. This move aims to reduce reliance on Chinese imports. India already mandates the use of locally made photovoltaic (PV) modules for government projects. The new rule now extends to solar cells as well. The government aims to boost non-fossil fuel capacity to 500 gigawatts (GW) by 2030, up from the current 156 GW. India’s current PV module-making capac
The 7th CICA Business Council Plenary Session and the 9th CICA Business Forum took place in Astana this November, bringing together representatives from India and other Asian nations. The event focused on strengthening regional economic ties and enhancing cooperation between businesses and governments. With participation from nearly 100 companies across Asia, the forum resulted in key agreements aimed at fostering growth and development. Major areas of focus included training programs, joint investment initiatives, and new formats for business-government interaction. These initiatives are
Abu Dhabi, the capital of the United Arab Emirates (UAE), announced new measures on Wednesday to simplify business processes as part of its economic diversification strategy away from oil. The emirate, which holds over 90% of the UAE's oil reserves, introduced the Abu Dhabi Registration Authority (ADRA). This centralized body will serve as the sole platform for business registration, according to an official statement. Like other oil-exporting regions, Abu Dhabi is accelerating its shift toward sectors such as tourism, logistics, manufacturing, and industry to achieve sustainable econom
The government has removed the windfall tax on domestically produced crude oil and exports of petrol, diesel, and aviation turbine fuel, addressing industry demands after falling international oil prices significantly reduced export values. The Department of Revenue announced the decision on Monday, rescinding the June 2022 notifications that imposed the tax, with immediate effect. “The industry had been urging the government to withdraw the tax, arguing it was no longer justified given the prolonged period of subdued international oil prices,” an official said anonymously. The wind
Saudi Arabia, the world’s top oil exporter, is likely to cut crude prices for Asian buyers in January to their lowest levels in years, according to traders. The January official selling price (OSP) for Arab Light could drop by 70 to 90 cents per barrel from December, marking at least a four-year low, a Reuters survey of six Asian refinery sources revealed. "The weaker Middle East benchmark prices in November are driving the cuts," said traders. Despite TotalEnergies purchasing 15.5 million barrels of crude in the S&P Global Platts window, the gap between front and third-month Dubai p
The Indian government is ramping up efforts to achieve its 6.5%-7% economic growth target for this fiscal year, despite slower-than-expected growth from July to September. Economic Affairs Secretary Ajay Seth expressed confidence that growth would pick up in the second half of the year. "Investor-friendly policies are in place, and tax rules have been simplified to attract more investments," Junior Finance Minister Pankaj Chaudhary told lawmakers on Monday. The government is also focusing on boosting domestic manufacturing with increased incentives for electric vehicle makers and plans to
India has exported organic food products worth nearly $450 million as of November 25 in the current fiscal year, according to government data. The exports totaled 2,63,050 tonnes, valued at $447.73 million, a statement revealed on Monday. Union Minister of State for Food Processing Industries, Navneet Singh Bittu, shared details in a written reply to the Lok Sabha, outlining organic export trends over the past five years. In 2019-20, India exported 6,38,998 tonnes of organic products worth $689.10 million. The following year, exports rose to 8,88,179.68 tonnes, earning $1,040.95 million
Saudi Arabia increased research and development (R&D) spending to $6.02 billion in 2023. This marks a 17.4% rise from 2022. Official data revealed the growth in R&D human resources as well. The workforce reached 49,337 by the end of 2023, up by 12.2%. The number of researchers increased to 36,832, showing a 22.1% annual rise. Vision 2030 prioritizes R&D in energy, technology, and sustainability. These efforts aim to reduce oil dependence and diversify the economy. R&D employees in higher education grew significantly, reaching 37,540 in 2023. This reflects a growing focus