Bali, Indonesia, 15-16 November 2022 1. Fourteen years ago, the Leaders of the G20 met for the first time, facing the most severe financial crisis in our generation. We recognized, as large global economies, that collectively we carry responsibilities and that our cooperation was necessary to global economic recovery, to tackle global challenges, and lay a foundation for strong, sustainable, balanced, and inclusive growth. We designated the G20 the premier forum for global economic cooperation, and today we reaffirm our commitment to cooperate as we, once again, address serious global…
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Netanyahu wins fifth term as Israel’s PM as rival concedes defeat
Outgoing Israeli Prime Minister Yair Lapid has congratulated Benjamin Netanyahu on his victory in Tuesday’s general election. Mr Lapid said he had called his rival to wish him luck and tell him he would ensure an orderly transition of power. Mr Netanyahu’s Likud party and its far-right and religious allies won 64 of the 120 seats in parliament, according to final results released on Thursday. Prime Minister Benjamin Netanyahu’s main rival conceded defeat Wednesday, promising to wage a robust battle from the opposition after the ruling Likud party and its…
Read MoreElon Musk buys & takes control of Twitter in $44bn deal
The world’s richest man, Elon Musk, has completed his $44bn (£38.1bn) takeover of Twitter, according to a filing with the US government. Mr Musk tweeted “the bird is freed” and later said “let the good times roll”. A number of top executives, including the boss, Parag Agrawal, have reportedly been fired. Mr Agrawal and two other executives were escorted out of Twitter’s San Francisco headquarters on Thursday evening, said Reuters. The completion of the deal brings to an end months of legal wrangling but it has prompted questions over the…
Read MoreRishi Sunak, A Devoted Hindu, Who Took Oath On Gita,Will Be Britain’s 1st PM Of Colour
Rishi Sunak, Who Took Oath On Gita, Bids To Be Britain’s 1st PM Of Colour Rishi Sunak represents the constituency of Richmond in Yorkshire London: Before his spectacular falling-out with Boris Johnson, Rishi Sunak was on a rapid rise that could still end with him installed as Britain’s first prime minister of colour. It would be a historic landmark if the Hindu descendant of immigrants from India and East Africa were to take command of the world’s fifth-largest economy. But after making the final run-off following a series of votes…
Read MoreRishi Sunak becomes Britain’s first Indian-origin Prime Minister
Rishi Sunak on Tuesday became Britain’s third prime minister this year and the first person of colour to lead the former imperial power, vowing to mend the “mistakes” of Liz Truss’s calamitous 49-day tenure. Sunak addressed the nation outside 10 Downing Street after his appointment by King Charles III, capping the latest extraordinary twist in UK politics following Boris Johnson’s demise in July. “I will unite our country — not with words, but with action,” the former finance minister said, pledging also unstinting support for Ukraine even while warning of…
Read MoreLiz Truss announces exit; U.K. to get its third PM in three months
Liz Truss announced her resignation amid a political crisis, making her 45-day tenure, the shortest in Britain’s history. Spoke to King Charles III on intent to resign, says Tory leader; a ‘leadership election’ will be completed next week, she says Liz Truss said on Thursday she would resign as British prime minister, brought down just six weeks into the job by an economic programme that roiled financial markets, pushed up living costs for voters and enraged much of her own party. The Conservative Party, which holds a big majority in…
Read MoreTrouble for Liz Truss? UK PM battles inflation as she faces possible sacking
With just over a month in the office, UK PM Liz Truss is finding it difficult to stay in power. Her proposed plans have failed to calm the inflation-stricken markets or assuage lawmakers’ concerns. On September 5, Conservative Party leader Liz Truss won the UK PM race, defeating her rival Rishi Sunak to win the Tory leadership contest. With her election promises of immediate action on energy prices and reforms to stabilise economy, many believed in Liz Truss’s bold post-poll proclamation of “we’ll deliver, we’ll deliver, we’ll deliver”. However, after…
Read MorePM Liz Truss sacrifices finance minister Kwasi Kwarteng in the fight to survive
British Prime Minister Liz Truss fired her finance minister Kwasi Kwarteng on Friday, shortly before she is expected to scrap parts of their economic package in a desperate bid to survive the market and political turmoil gripping the country. Kwarteng said he had resigned at Truss’s request after rushing back to London overnight from IMF meetings in Washington. Truss, in power for only 37 days, will hold a news conference later on Friday, Downing Street confirmed. “You have asked me to stand aside as your Chancellor. I have accepted,” Kwarteng…
Read More‘It was really, really important’: Truss on UK’s mini-budget amid economy woes
British Prime Minister Liz Truss said on Friday she recognised there had been some financial market disruption following the government’s so-called mini budget and that it was important monetary and fiscal policy are coordinated. Truss has so far argued market turbulence following the announcement of planned tax cuts a week ago is a result of global problems caused by the Russian invasion of Ukraine, and that she would stick to her plan to try to boost growth. The Bank of England’s chief economist, Huw Pill, said on Thursday there was…
Read MoreLiz Truss appointed as UK PM and will take oath along with first all Non-white cabinet
London: UK Foreign Secretary Liz Truss was on Monday announced the victor of the contest for the Conservative Party leader, defeating former Chancelllor of Exchequer Rishi Sunak, and paving the way for her to become the next Prime Minister. Truss, who succeeds Boris Johnson, will be the third woman Prime Minister of the United Kingdom after Margaret Thatcher and Theresa May, all of from her Conservative Party. Announcing the results, 1922 Committee chief, Sir Graham Brady said Truss won 81,326 votes, or over 57 per cent, compared to Sunak’s 60,399 votes….
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