Indian industry welcomes Rishi Sunak s Budget, plan for new special visa
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Last Updated: Mar 03, 2021, 11:47 PM IST
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Synopsis
Besides the measures put in place to help businesses with grants and loans, the minister s announcement of consultations related to the visa regime were also hailed as a step in the right direction by both the Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Indian Industry (CII).
Agencies
The Budget, which marks Sunak s first since the pandemic hit last year, has largely received positive industry reactions for its support initiatives but the Confederation of British Industry (CBI) struck a note of concern for the future.
The UK Chancellor Rishi Sunak has extended the 5% reduced rate of VAT for the hospitality for six months and has frozen alcohol duties for a second consecutive year.
TOP NEWS SUMMARY: Prudential plans equity raise amid shift to Asia
Wed, 3rd Mar 2021 11:10
(Alliance News) - The following is a summary of top news stories Wednesday.
COMPANIES
Prudential reported a rise in annual profit despite a fall in revenue, mitigated by narrowed charges, but cut its final payout to a sliver of what it once was as the company faces challenges in the short-term. The insurer also announced an equity raise as it expands in Asia, and a renewed bancassurance partnership between its Vietnamese business Prudential Vietnam Assurance Private Ltd and Maritime Commercial Joint Stock Bank. Prudential posted IFRS pretax profit for 2020 of USD2.42 billion, rising 5.7% from USD2.29 billion a year prior, off of reduced total charges net of reinsurance of GBP54.07 billion, having been GBP91.85 billion in 2019. The reduced total charges mitigated a 40% fall in total revenue net of reinsurance to USD55.97 billion from USD93.74 billion, as earned premiums net of reinsurance su