UK ECONOMIC

Tuesday, February 11, 2014

Nick Clegg visits flooded areas and promises government support

The Deputy Prime Minister met with the flood action group at their headquarters in Stoke St Gregory to thank volunteers for all the important work they are doing, and saw the effects of the floods on homes in the Burrowbridge area.

East Village homes handed over approach 700 mark

This brings the number of apartments and townhouses completed and transferred by the Olympic Delivery Authority to East Village’s long-term legacy owners to 684 – with an additional 98 homes in the latest to be completed (N26 North).

Army band in 'farewell' fanfare

For more than 250 years, Woolwich in south east London has been home to the Royal Artillery Band. The Royal Artillery regiment left Woolwich back in 2007 and, under new restructuring of army music, the Royal Artillery Band is to reunite with their regiment in Wiltshire.

Armed forces help flood relief efforts

As the floods continue to cause disruption across the UK, personnel from the Royal Marines, Royal Navy and Army Reserve have been working hard to provide flood relief assistance.

Latest position on the UK floods

As evident from the dark skies outside, we continue to face extraordinary and sustained wet weather.

Severe flood warnings in Southern England

Areas along the Thames and across parts of the South East, South West and central England are at risk of flooding this week, due to rising river levels and risk of flooding from groundwater.

UK winter storms 2014: government response

Prime Minister David Cameron has been visiting areas in the South West affected by the storms and flooding. Speaking as he met emergency workers and soldiers at Chesil Beach in Dorset, he said government was doing everything it can to help residents, businesses and farmers.

"2013 was indeed a year of significant political progress in Kosovo"

I thank the Secretary General’s Special Representative for Kosovo, Mr Farid Zarif, for his briefing today. I am also delighted to welcome to the Council His Excellency Prime Minister Hashim Thaci of Kosovo, and His Excellency Prime Minister Ivica Dacic of Serbia.

Before considering surrogacy overseas do your research, advises FCO

The Foreign and Commonwealth Office (FCO) is today encouraging prospective parents to seek professional legal advice before entering into surrogacy arrangements abroad.

Tuesday, February 04, 2014

Crude Prices Drops Amid Chinese Oil Demand Concerns

Crude oil prices were seen trading lower on the last day of the trading week while oil traders express their worries over oil demand from China as reports revealed a contraction in China’s manufacturing sector.

Australian Dollar Strengthens Ahead RBA Rate Decision

The Australian dollar rose against the greenback on Monday, before members of the Reserve Bank of Australia’s (RBA) board assemble on

WTI Crude Prices Declines on Concerns Over China Demand

Prices for West Texas Intermediate (WTI) crude oil dropped for a second day on the first day of the trading week, as investors express their worries over the oil demand from China and the slow growth in the world’s second-largest oil consumer due to the weak manufacturing data.

Another H7N9 death in E China

One new human H7N9 case has been found in east China's Jiangsu Province, the provincial health department confirmed on Tuesday.

Forest fire breaks out in SW China

A forest fire broke out on Fenghuang Mountain, Jinning County in southwest China's Yunnan Province at around 11:30 a.m. Tuesday, local authorities said.

The cause of the fire is unknown. Over 300 people are working to put the fire out.

To change the child for the better, change the parent

Where Are We Going, Dad is the hottest reality show to hit China television recently, and its attraction speaks of the growing awareness of the father's role in raising a child.

Australian Reserve Bank keeps rate on hold at 2.5 pct

The Reserve Bank of Australia announced on Tuesday it had decided to leave the cash rate unchanged at 2.5 percent.

Spanish Royal Household reduces 2014 budget

The Spanish royal family have reduced their annual budget by 2 percent this year, according to details made public Monday.

British ambassador urges Japan to admit historical wrongs: report

British ambassador to Japan Tim Hitchens urged the country to admit historical mistakes and create better environment for improving ties with neighboring countries, local media reported on Monday.

New Zealand offers home to Syria's most desperate refugees

Up to 100 refugees in need of urgent protection in Syria will be resettled in New Zealand, the New Zealand government announced Tuesday.

Australia to face Lithuania in Group D of 2014 FIBA Basketball World Cup

The Australian men's national basketball team, known as the Boomers, will face European powerhouse Lithuania after being drawn in Group D in the 2014 FIBA Basketball World Cup Official Draw in Spain's Barcelona on Tuesday morning, Basketball Australia confirmed.

Yellen takes oath as Fed Chair

Janet Yellen on Monday took the oath of office to lead the U.S. Federal Reserve System, becoming the first woman to sit on the post in history.

Australian Reserve Bank keeps rate on hold at 2.5 pct

The Reserve Bank of Australia announced on Tuesday it had decided to leave the cash rate unchanged at 2.5 percent.

Chinese Lunar New Year celebrations held in London

February 2nd was the first Sunday of the Year of the Horse - and as usual, London put on a big celebration to mark the Chinese New Year. The activity attracted 500,000 residents and tourists, drumming up a festive atmosphere across the British capital.

Truck overturns, injuring 86 in eastern Cambodia: police

Some 86 garment workers got injured when a truck carrying them overturned on Tuesday morning in Cambodia's eastern Svay Rieng province, a police chief confirmed.

Asian log demand starving New Zealand industry: timber federation

New Zealand's timber industry is being driven out of business by log exporters seeking to meet demand in China and other Asian markets, the New Zealand Timber Industry Federation warned Tuesday.

Since 2008, log exports had increased by 240 percent and international forestry commentators were saying the level of demand for logs in China, which accounted for 70 percent of New Zealand's log trade, would continue for the foreseeable future, said a statement from the federation.

Many federation members were frequently experiencing downtime and production losses because they were unable to buy logs or log supply was stopped.

"New Zealand sawmills are often paying top international rates for logs, so price is not an issue. It simply appears that some forest owners value their international customers more highly than domestic processors."

An estimated 3,000 jobs had been lost in the New Zealand wood processing sector since 2008 and more companies would close if the situation continued.

"This could lead to a shortage of product for the domestic market requiring timber to be imported into New Zealand," it said.

"We believe there has to be a serious discussion at government level about the on-going situation with log supply to the domestic wood processing industry," opposition Green Party forestry spokesperson Steffan Browning said in a statement.

"We also need to ensure that exporters of raw logs are paying its full environmental and social costs, including urgent methyl bromide recapture for log fumigations. When those costs are borne by raw log exporters, the balance will tip more in favor of processing and manufacturing wood products here, rather than sending unprocessed logs overseas."

Philippine infrastructure spending up 20.5 pct in January-November

The Philippine government's infrastructure spending rose by 20.5 percent on year to 223.3 billion pesos (4.91 billion U.S. dollars) from January to November 2013, the Department of Budget and Management (DBM) said Tuesday.

SW China spree killer's gun found

One day after a man alleged to be the New Year's Eve spree killer of six was captured in southwest China's Yunnan Province, the gun and 40 bullets have been found.

New Zealand military branches out as global equipment provider

The Last Post the iconic bugle call still heard in parts of the former British Empire to commemorate the military dead might soon be telling navy divers around the world that they've just failed an exercise in seabed mine training.

Two killed, one wounded in Moscow school shooting

A teacher and a policeman were killed and one more policeman injured when a teenage gunman opened fire in a Moscow public school, the Interior Ministry said Monday.

U.S. cyber commander visits S. Korea to discuss response to DPRK threats

The chief of the U.S. Cyber Command visited South Korea Monday to discuss ways on how to tackle possible cyber threats from the Democratic People's Republic of Korea (DPRK), Seoul's Defense Ministry said Tuesday.

Convoy of journalists bombed in S. Philippines

Suspected members of the rogue group Bangsamoro Islamic Freedom Fighters (BIFF) attacked a convoy carrying television journalists on Tuesday afternoon in southern Philippines.

Mandela leaves 4 mln USD estate

The details of the final will and testament of Nelson Mandela have been made public. A 40-page summary of the late former South African president's will was released at the Nelson Mandela Center of Memory in Johannesburg. It states that his estate is worth an estimated 4 million US dollars, excluding the assets in three Mandela Trusts.

One dead in Chinese tour group crash in New Zealand: reports

A least one person is dead and three are badly injured after a van carrying 10 Chinese tourists plunged into a river in the far south of New Zealand's South Island, according to reports Tuesday.

Sri Lanka slams critics at independence celebrations

Sri Lanka on Tuesday slammed critics accusing the country of committing human rights abuses as the island nation celebrated 66 years of independence from British rule.

Australia to face Lithuania in Group D of Basketball World Cup

The Australian men's national basketball team, known as the Boomers, will face European powerhouse Lithuania after being drawn in Group D in the 2014 FIBA Basketball World Cup Official Draw in Spain's Barcelona on Tuesday morning.

Victims of Mount Sinabung eruption remain optimistic about their future

The eruption of Mount Sinabung in the western island of Sumatra that started in September last year has already killed 15 people and forced the evacuation of more than 30,000 local villagers within a 5- kilometer exclusion zone around the volcano's crater.

Arms, ammunitions discovered in northern Afghan town

Police raided a house in the northern Takhar province and discovered huge quantity of arms and ammunitions on Tuesday, police spokesman in the province, Abdul Khalil Asir said.

Nikkei plunges more than 600 points

Tokyo stocks tumbled on Tuesday, with the Nikkei index ending 610.66 points lower.

Seoul shares end lower

Seoul shares ended lower on Tuesday with the benchmark Korea Composite Stock Price Index (KOSPI) plunging 33.11 points, or 1.72 percent, to close at 1,886.85.

Trading volume stood at 246.73 million shares worth 4.43 trillion won (4.1 billion U.S. dollars).

Sharp raises operating profit forecast to nearly 1000 million dollars for fiscal 2013

Japan's Sharp Corp. on Tuesday raised its operating profit forecast to 100 billion yen (about 987.9 million U.S. dollars) from an earlier projection of 80 billion yen for the fiscal year to March, local media reported.

S. Korea to support working moms to raise employment rate

South Korea planned to support working mothers through diverse programs devised in accordance with women's life cycle as part of efforts to raise hiring rate to 70 percent, the women's ministry said Tuesday.

Careers with YouTube and Google through Jobcentre Plus

Young people have got their foot on the career ladder with YouTube, Disney and Google through working with their local Jobcentre Plus (JCP) adviser, Minister for Employment Esther McVey announced today (4 February 2014).

Human Rights and Democracy Fund in Malaysia: Call for Bids

Human Rights and Democracy Programme
The Human Rights and Democracy Programme (HRDP) is the FCO’s dedicated fund

Monday, February 03, 2014

HMRC sees record-breaking year for tax returns

The record for the number of online returns, set last year when 7.93 million people filed over the internet, was also broken, as 8.48 million were sent online to HM Revenue and Customs (HMRC). This represents 84.5% of all returns received – a record-breaking percentage.

First day of business for new LIBOR administrator

Today (3 February 2014), ICE Benchmark Administration Ltd took responsibility for administrating the London Inter Bank Offered Rate (LIBOR).

FCO consular services web forum

Do you have experience of seeking help from a British Embassy, Consulate or High Commission when travelling or living overseas? Did you get the support you were looking for? The House of Commons’ Foreign Affairs Select Committee is

New non-executive director at the Department of Energy and Climate Change

Tom Kelly starts today as a non-executive director to the department. He is currently the corporate communications director at Network Rail.

Nick Clegg brings business delegation to Latin America

Nick Clegg will be the most senior British government minister to visit Colombia since 1992.

1 in 3 breast cancers are in women over 70

One in 3 women diagnosed with breast cancer in England each year are aged 70 or over. This age group also accounts for more than half of all breast cancer deaths annually, latest figures show. This age group also accounts for more than half of all breast cancer deaths annually, latest figures show.

Flooding – health advice on floodwater

Media reports today have highlighted levels of bacteria present in sampled floodwater.

Response to story on empty homes

“We’ve supported councils so they can tackle the blight of empty homes on their streets. This includes our reforms on council tax flexibilities and

Saturday, February 01, 2014

NT Advisors loses £100m offshore tax avoidance bid

Matthew Jenner devised the complex scheme, branded Project Corbiere, for NT Advisors and pitched it to the wealthy. It involved transferring millions of pounds of UK government bonds, known as gilts, backwards and forwards

£4 million awarded to English museums

40 museums and galleries across England will benefit from grants worth over £4.6 million, Culture Minister Ed Vaizey announced today.

UK centre for remote handling proposed at Culham

The Oxford City Deal investment into hi-tech research laboratories and businesses in Oxfordshire, announced this week, was particularly good news for Culham Centre of Fusion Energy, operated by the UK Atomic Energy Authority.

Dambusters final flight

More than 70 years after its creation, the RAF’s 617 Squadron, known as ‘The Dambusters’, has completed its last operational mission as a Tornado squadron with a flight in the skies over Afghanistan.

Defence minister visits cadets in Scotland

During a visit north of the border, Dr Murrison visited Glasgow and Strathclyde Universities Officer Training Corps to see for himself what goes on at the unit, which is made up of 150 officer cadets from the 4 universities in and around Glasgow, and 20 staff.

Self Assessment deadline

If someone has registered for our Online Service, or existing customers have lost their User ID or password and realise they have left it too late,

Redesigning Regulatory Architecture - the UK Experience

Thank you very much for the opportunity to address you this afternoon, and to set out what I hope will be some useful insights from our recent experience.

Good news for employers and staff as improved TUPE rules come into force

Changes have been made to the Transfer of Undertakings (Protection of Employment) Regulations (TUPE), which protect the employment terms and conditions of

UK and France sign declaration on nuclear energy and agree cooperation on ambitious climate change action

The declaration, which comes ahead of national leaders’ discussions over the EU’s 2030 energy and climate policy framework, reiterates the two Governments’ shared view that nuclear power has a critical role to play in a cost-effective low carbon transition.

UK provides airlift support to UN Mission in South Sudan

Her Majesty’s Government today announced that the UK is providing airlift support to the UN Mission in South Sudan in order to transport much-needed equipment. An RAF C-17 has departed from RAF Brize Norton carrying blast wall protection. The C-17 flight follows the departure of 3 charter aircraft carrying similar equipment.

Air cadets' gliding school opens

The new school, which houses the world’s largest fleet of gliders, will be headed up by a reservist for the first time.

Chinese New Year 2014: message from the Deputy Prime Minister

The Deputy Prime Minister said:

I want to wish everyone celebrating, across the UK and world, a Happy Chinese New Year. And let me join you in welcoming the Year of the Horse.

FCO Minister to answer questions on Burma via Twitter

Burma has seen remarkable progress over the past two years, and the UK is committed to supporting a successful transition to democracy and human rights for all the people of Burma. But we are clear

UK and France agree closer defence co-operation

A communiqué signed by UK Prime Minister David Cameron and French President Francois Hollande sets out plans for closer ties between the 2 countries.

On the rink of success

Scotland Office Minister David Mundell has spoken of the source of pride and inspiration our Olympians provides for the whole country ahead of the Winter Olympics which begin in Sochi, Russia next week.

Foreign Secretary holds talks with French Foreign Minister

At today’s UK – France Summit in Oxfordshire, Foreign Secretary William Hague met his counterpart Foreign Minister Laurent Fabius.

Minister Swire concludes visit to Burma and Cambodia

Hugo Swire has spent this week in Burma and Cambodia. On the conclusion of his visit to Phnom Penh of 30-31 January, Hugo Swire said;

Foreign Secretary calls for urgent progress on Syrian humanitarian crisis

Speaking today, the Foreign Secretary said:

There is only one way of ending the Syrian conflict and that is through a political settlement. The fact that these talks have taken place raises some hope, for the Syrian people, that a negotiated end to