Search Result for : Brexit

The Dollar Business Bureau India looks set to overtake the economies of France and Britain in 2018 to become the fifth largest economy in the world in dollar terms, according to a report by one of the leading economics consultancies in the UK. The World Economic League Table 2018 by Centre for Economics and Business Research (Cebr) consultancy painted a positive view of the world’s economy, supported by cheap prices of energy and technology. India’s rise is a part of the trend that will witness economies in Asia increasingly dominate the 10 biggest economies in the coming 15 years. Douglas McWilliams, Deputy Chairman, Cebr said, “Despite temporary setbacks, India's economy has still caught up with that of France and the UK and in 2018 ...

The Dollar Business Bureau Britain’s food and drink exports increased 8.5% to £10.2 billion during the first six months of this year, supported by sales in British salmon and decline in the value of pound after Brexit vote last year. Fish exports surged more than 53% in terms of value to £408 million, said Food and Drink Federation (FDF) – a representative body of manufacturers in UK. Whisky continued to be the top exporting item, followed by salmon fish. The beer comes at the third place after taking over the chocolate. Since the Britain voted to exit the EU in June 2016, the pound has dropped sharply against the euro and dollar, giving push to the exports as they became comparatively cheaper. However, the weaker ...

The Dollar Business Bureau  The Chief Executive of Royal Bank of Scotland (RBS), Ross McEwan, revealed today that they are in discussions with the Dutch Central Bank to use it as a base after Britain exits the European Union.  McEwan revealed today that RBS plans to build its Amsterdam unit which was acquired after RBS bought ABN-Amro in 2008. Though presently the staff at Amsterdam are only a handful, the bank plans to increase the staffing size to 150. McEwan told reporters, "Setup costs will be in the low tens of millions, running costs also in the low tens of millions.”  RBS in its half-year report said, "NatWest Markets has reviewed ways to minimise disruption to the business and continue to serve its ...

The Dollar Business Bureau  UK’s Immigration Minister Brandon Lewis said on Thursday that after the Brexit deadline, nationals from European Union (EU) countries will have to face same visa requirements as the migrants from non-EU nations. Freedom of movement is an aspect of the UK’s EU membership and this will end once the country exits the bloc, Lewis said. This would mean that migrants from the 27-member bloc will face similar visa restrictions as Indian nationals, as soon as Britain leaves the EU - the deadline for the same is March 2019. “Free movement of labour ends when we leave the EU in the spring of 2019. I’ll be very clear about that,” Lewis told a leading international news agency. “Obviously, there’s a period of ...

By Sheela Mamidenna The UK – on June 24th, 2016 – decided to test the depth of the water with both legs though a referendum. And the Brexit as expected is blowing things out of proportion. Ever since the Brexit, EU members have been huddling to strengthen the trade bloc And while Brexit talks are underway in Brussels, the latest test is on London’s might as the financial global empire! And this – the recent governmental news that leaked – has put Londoners on the edge. It revealed that London as a ‘financial powerhouse’ may not rest on its laurels for long as the freshly elected Emmanuel Macron-led France sought to usurp that position. Well, Global Financial Centres Index, a report ...

By Sheela Mamidenna UK and India share an age-old history of common interests and values and with India’s rapid rise to fame as the ‘fastest growing large economy’ in the world, the relations between the two countries could ‘reboot’ as Theresa May had expressed during her visit to India in November last year. UK is India’s 5th largest trading partner and a great place for Indian businesses and will remain so post-Brexit for many reasons. However, trade bodies like FICCI voiced a negative sentiment saying that trade between India and UK is likely to suffer due to the Brexit vote and a decline in sterling. There are over 800 Indian businesses operating in the UK and serving as a gateway to Europe. Experienced ...

The Dollar Business Bureau  Britain’s largest car manufacturer Jaguar Land Rover (JLR) will employ 5,000 people in order to boost the company’s skills in electric and autonomous technology, a welcome corporate endorsement as UK’s Prime Minister Theresa May begins Brexit negotiations after the election. JLR said that it would be hiring 1,000 electronic and software engineers and an additional staff of 4,000 in the manufacturing division. Most of the employees will be based in the UK. The company employs over 40,000 people worldwide. The recruitment will be done over the next one year, just as Britain begins talks to exit European Union (EU). Car manufacturers in UK have asked the May government to ensure that the talks result in a pact that holds free and unfettered trade in order to ...

The Dollar Business Bureau UK and US leaders met on the sidelines of the G7 meet and reaffirmed to complete a bilateral trade agreement after UK's exit from the European Union. The two leaders met at Sicily and decided to forge their trade relationship. A spokesperson told the media that the two leaders agreed on the importance of free trade while ensuring that the citizens of both the countries are not left behind due to globalization. "The president and the prime minister reaffirmed their commitment to increasing trade between the UK and the U.S., including a post-Brexit trade deal," the spokesman said. Theresa May was the first leader of a State to visit the White House after Donald Trump became the President. It was ...