The News Journal

Sethurathnam Ravi (S Ravi) is the former Chairman of Bombay Stock Exchange Limited (BSE) and Founder and Managing Partner of Chartered Accountants’ firm Ravi Rajan & Co., an advisory and accountancy firm, headquartered in New Delhi, India. S Ravi is a Post Graduate in Commerce and holds a diploma in Information System Audit (DISA). He is an Associate Member of Association of Certified Fraud Examiners (CFE), USA and is also registered as an Insolvency Resolution Professional. Sethurathnam Ravi  on his latest talk on 5 years of GST with Tarun Nangia, presents his views on the journey of GST in India since its introduction 5 years ago. According to him, the Goods and Services Tax has been a major reform across India and so far, it has been a successful journey. He also makes four suggestions on how to make GST friendly, for most of the people to abide by the tax paying mechanisms. Sethurathnam Ravi “First of all, on the platform side, what happens is one person makes a wrong entry and

The chairman of Heathrow Airport, Lord Paul Deighton, has laid the blame for travel chaos on airlines failing to recruit enough baggage handlers. He said wages were not being paid at market rate and that had led to a shortage of staff. He said the whole travel industry was "grappling" with the legacy of surviving during the pandemic with no income. European airports, particularly Heathrow, have struggled to get into gear since Covid-19 travel restrictions were dropped. Passengers have endured last-minute flight cancellations, huge queues at check-in and security, and missing luggage. It was given an ultimatum by the UK government to fix the problems swiftly. Last week, Heathrow introduced a 100,000 daily passenger limit in an attempt to manage the disruption and ordered airlines to rip up their schedules. Read More : https://www.thenationalnews.com/world/uk-news/2022/07/19/heathrow-chairman-lord-deighton-blames-slasher-airlines-for-travel-chaos/

Tom Tugendhat was eliminated from the Conservative party leadership race on Monday night after failing to secure enough votes from MPs. The former army officer was removed after securing only 31 backers despite giving a widely praised performance during the leadership debates. The departure of the moderate One Nation Tory means that there only right-wing candidates, although Rishi Sunak, the former chancellor, and Penny Mordaunt will be regarded as more centrist contenders. Kemi Badenoch increased her support significantly getting to 58 votes and Mr Sunak had 115 backers, which is five short of the 120 needed to get into the final pair. Ms Mordaunt, who suffered a weekend of media scrutiny and smear stories, lost one vote, going back to 82, but remains in second place. Liz Truss went from 64 to 71, showing a slight increase but not as big as she had hoped. It could still prove that some of Ms Badenoch's supporters go to her rather than Ms Mordaunt. Read More : https://www.thenati

Former British prime minister Tony Blair feared his government would face a backlash over its failure to remove Islamist extremists from the UK in the aftermath of the 9/11 terrorist attacks. Newly released cabinet papers from the UK's National Archives in Kew reveal concerns Mr Blair had over copycat attacks and public concern that action had not been taken to deport known extremists. The cache of documents reveal the government had raised concerns within two days of the atrocities, which saw passengers planes flown into buildings killing almost 3,000 people. "The government could in due course face pressure to explain why it did not expel from the country certain prominent supporters of Islamic fundamentalism," the cabinet discussion notes said. Read More : https://www.thenationalnews.com/world/uk-news/2022/07/19/tony-blairs-government-feared-backlash-over-failure-to-expel-uk-extremists-after-911/

Hub71, Abu Dhabi's global technology ecosystem, launched its second Outliers programme as the capital continues to support start-up companies broadening their roles in the economy. The new leg of Outliers — Hub71's annual programme that invites start-ups worldwide to solve actual challenges presented by participating organisations — will focus on Web3 to help companies future-proof their operations and give them an opportunity to gain up to Dh100,000 ($27,229.40) to fund their proofs of concepts. Web3 is the emerging new concept of the World Wide Web, with blockchain, decentralisation, openness and greater user utility among its core components. The challenges will be presented by top government and corporate entities, including Abu Dhabi's Department of Culture and Tourism and Department of Health, real estate developer Aldar Properties, Thales French technology company Thales and Dubai-based used vehicles platform Cars24. Read More : https://www.thenationalnews.com/busin

Ukraine's first lady, Olena Zelenska , met with Secretary of State Antony Blinken on Monday as she began a series of high-profile appearances in Washington that will include a session with US counterpart Jill Biden. Blue and yellow Ukrainian flags flew alongside American ones on Pennsylvania Avenue as Zelenska headed for her first announced event in the United States, the meeting with Blinken. State Department spokesman Ned Price said the secretary of state assured Zelenska of the United States' commitment to Ukraine. Blinken also commended her for her work with civilians dealing with trauma and other damage from the war. The first lady also met Monday with Samantha Power, head of the US Agency for International Development. Power's agency has given billions of dollars to support Ukraine's government and to humanitarian needs, and is working to ease a global food shortage aggravated by Russia's war. Read More : https://www.firstpost.com/world/ukraines-first-lady-ol

Former Chancellor Rishi Sunak on Monday topped the latest round of voting among the Conservative Party members of Parliament as the race to replace Boris Johnson as Prime Minister narrowed down to four, with Tom Tugendhat out of the contest after receiving the lowest votes. The British Indian former finance minister received 115 votes in the third round of voting, with Trade Minister Penny Mordaunt holding on to the second spot with 82 votes followed by Foreign Secretary Liz Truss with 71 votes, and former equalities minister Kemi Badenoch at 58 votes. Tom Tugendhat, Tory backbencher and House of Commons Foreign Affairs Committee Chair, dropped his tally from the previous 32 to 31 votes and was knocked out of the contest. While the top tier of the voting tally remains largely unchanged, Mr. Sunak has picked up 14 more votes from the previous round of 101, however, Mr. Mordaunt has dropped one from 83 in the second voting round last week. Read More : https://www.thehindu.com/news/inter

 Southwest Europe continues to battle devastating wildfires with sweltering temperatures and extreme heat forcing thousands out of their homes and sending holidaymakers scurrying for safety. Britain and France went on heatwave alert on Monday bracing for record temperatures as southwest Europe wilted under a scorching sun and ferocious wildfires devoured more forests. This after Portugal and Spain and France saw armies of firefighters battle blazes and Irish forecasters predicting a taste of blistering Mediterranean-style summer temperatures. Read More : https://www.firstpost.com/world/explained-how-and-why-wildfires-are-scorching-europe-10925821.html

Three women will likely face the lone remaining male candidate fighting to become the next leader of Britain's ruling Conservative Party following vote results announced late on Monday evening. With Rishi Sunak close to securing enough votes to get him into the final round of two, Foreign Secretary Liz Truss, Trade Minister Penny Mordaunt and former local government minister Kemi Badenoch will compete for the remaining votes to go head-to-head with the former chancellor. Their teams are mounting intense campaigns to win over the 358 Tory MPs voting today in a ballot that will reduce the candidates from five to four. Despite running an effective campaign and performing well in the weekend’s two leadership debates, the remaining one- nation Tory, Tom Tugendhat, is likely to be eliminated, leaving just four candidates. However, it is the 27 votes of right-winger Suella Braverman, eliminated on Thursday, that the three remaining women are chasing, with the majority expected to go to Ms

Global aviation's Farnborough International Airshow opened on Monday, the first in four years after a Covid-enforced hiatus. More than 80,000 visitors from 96 countries are expected to attend this week's five-day event, with aviation bosses aiming for a display of confidence after the devastation of the pandemic. The show will this year focus on green themes of decarbonisation and sustainability, as many carriers seek to replace ageing fleets with modern, fuel-efficient aircraft that emit less carbon dioxide. US titan Boeing and its European arch-rival Airbus will battle for supremacy as they declare their latest multi-billion-dollar jet orders. Airbus and Boeing will also showcase their latest twin-aisle passenger aircraft, the A350-900 and the 777X. It comes as the sector has been aided by a modest recovery in air traffic and with Ukraine boosting defence budgets. The show, which is held south west of London, comes as weather forecasters warn of scorching record temperatures

Morgan Stanley cut its forecast for India’s annual growth to 7.2 percent for this year, as tighter financial conditions and a slowdown in global trade have pressured major economies around the world. The brokerage’s forecast, down from its previous projection of 7.6 percent, comes after India’s economic growth slowed to the lowest in a year in the first three months of 2022 at 4.1 percent. The revised target is in line the Reserve Bank of India’s view. For the next year, Morgan Stanley expects the annual GDP to touch 6.4 percent. Global central banks have moved to sharply tighten monetary policies to curb surging inflation, increasing worries of a possible recession. The Reserve Bank of India, too, last month raised the key interest rate by 50 basis points. India’s annual consumer inflation, which touched multi-year highs in the past few months, eased marginally to 7.01 percent in June. The brokerage expects more respite ahead. “Building in the moderation in commodity prices and swifte

Oil prices edged higher on Monday after losing steam last week due to tight market conditions and material takeaways for the energy industry from US President Joe Biden’s visit to the Middle East. Both Brent, the benchmark for two thirds of the world's oil, and West Texas Intermediate, the gauge that tracks US crude, recovered from steep declines Tuesday last week when Brent plunged nearly 7 per cent and WTI plummeted 8 per cent. Brent was up 2.78 per cent at $104 at 12.11pm UAE time on Tuesday. WTI, the gauge that tracks US crude, gained 2.57 per cent to $100.1 a barrel. "Crude oil prices continue to remain unfazed by Biden’s visit to Saudi Arabia," said Naeem Aslam, chief market analyst at Avatrade. "Last week’s sell-off became an opportunity for many as investors are still betting that oil prices are unlikely to drop significantly anytime soon. Traders got one clear message from Biden’s recent visit to Saudi Arabia ... the message is that it is Opec+ that makes th