Skip to content
Search

Latest Stories

India's ailing finance minister Arun Jaitley quits government

INDIA'S influential but ailing finance minister Arun Jaitley announced today (29) that he would not serve in prime minister Narendra Modi's new government because of his poor health.

Modi is set to be sworn in Thursday (30) after winning a second landslide election and should name his new cabinet shortly after.


Jaitley, 66, a key member of the last government, said in a letter to Modi he released on Twitter that he would "like to keep away from any responsibility" so he could concentrate on his health and treatment.

Jaitley underwent a kidney transplant in May last year and in February travelled to the US for surgery after being diagnosed with cancer.

"I am writing to you to formally request you that I should be allowed a reasonable time for myself, my treatment and my health and therefore not be a part of any responsibility, for the present, in the new government," he added in the letter.

Jaitley also hailed the "spectacular win" of Modi's right Bharatiya Janata Party (BJP) in the six-week election that ended last week.

The BJP swept 303 of the 542 contested parliamentary seats to win a second five-year term.

A lawyer-turned-politician, Jaitley guided the government's rollout of a complex nationwide tax and often acted as a spokesman on contentious issues.

Railways minister Piyush Goyal, who stepped in for Jaitley to present an interim budget in February, and BJP president Amit Shah are in contention for Jaitley's job, media reports said.

India is the world's sixth largest economy and although it has been growing at about seven per cent a year, it is showing signs of a slowdown.

Modi, 68, has invited the heads of countries who are in the Bay of Bengal Initiative for Maritime and Economic Co-operation (BIMSTEC) to the swearing-in.

India's neighbour Pakistan is not a part of the alliance and so Modi avoided inviting Pakistan prime minister Imran Khan.

(AFP)

More For You

India’s diamond exports hit 20-year low amid weak US and China demand

India handles nine out of every 10 diamonds processed globally

India’s diamond exports hit 20-year low amid weak US and China demand

INDIA’S exports of cut and polished diamonds plummeted to their lowest level in nearly two decades in the 2024-2025 fiscal year, which ended in March, on sluggish demand from the United States and China, a leading trade body said on Monday (14).

India is the largest cutting and polishing hub, handling nine out of every 10 diamonds processed globally. But it is sensitive to economic uncertainty – particularly in the US, its biggest market.

Keep ReadingShow less
UK financial watchdog opens first offices in US and Asia

The international expansion forms part of the FCA's new strategy (Photo: Reuters)

UK financial watchdog opens first offices in US and Asia

BRITAIN's Financial Conduct Authority (FCA) has established its first-ever international presence with new offices in the US and Asia-Pacific region, the watchdog announced on Tuesday (15).

Former investment banker Tash Miah began working at the British Embassy in Washington DC in April. In her role, Miah will collaborate with the Department for Business and Trade to improve UK-US financial services policy and help American firms navigate British regulations.

Keep ReadingShow less
UK Inflation

The Consumer Prices Index (CPI) stood at 2.6 per cent in March, down from 2.8 per cent in February, the Office for National Statistics (ONS) said.

Getty

UK inflation eases to 2.6 per cent ahead of US tariff impact

THE UK’s annual inflation rate dropped more than expected in March, according to official figures released on Wednesday. The latest numbers come as US president Donald Trump’s new tariffs add to global economic uncertainty.

The Consumer Prices Index (CPI) stood at 2.6 per cent in March, down from 2.8 per cent in February, the Office for National Statistics (ONS) said. Analysts had expected a decline to 2.7 per cent. The rate was 3.0 per cent in January.

Keep ReadingShow less
Bestway-wholesale

Bestway launches Easter campaign with 200 deals and new product reveals

BESTWAY Wholesale has launched a four-week Easter campaign offering nearly 200 promotional deals across categories both in depots and online.

The campaign includes branded displays with spring-themed packaging and features new product launches from Red Bull’s Peach Summer Edition and Pepsi’s Strawberry and Cream flavour, which Bestway says will be seen first at its outlets.

Keep ReadingShow less
What UK TV licence changes could mean for Netflix and Prime Video users

The current funding structure relies heavily on the TV Licence fee, but this model is under review

iStock

What UK TV licence changes could mean for Netflix and Prime Video users

The TV Licence fee in the UK has recently increased, and future changes to the system may also affect people who watch content solely through streaming platforms like Netflix, Amazon Prime Video, or Disney+.

As of now, UK residents are required to pay the TV Licence fee if they watch live television or use BBC iPlayer. The fee rose by £5 on 1 April 2025, increasing from £169.50 to £174.50 per year. This equates to approximately £14.54 per month. Those who watch only on-demand content via streaming services remain exempt from paying the fee under current rules.

Keep ReadingShow less