Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
BRITISH prime minister’s trade envoy to Uganda Lord Dolar Popat led a successful trade mission to the country last week to boost bilateral relations with the region, a statement said.
Following the visit, a record £2.5 billion coverage was made available by UK export finance to help industrialise Uganda, the statement added.
Lord Popat met Uganda president Yoweri Museveni during the visit to discuss bilateral interests in health, investment, energy, transport and agriculture between Uganda and the United Kingdom.
Lord Popat said: “I recognise the immense potential of Uganda, but now is the time to turn that potential into tangible commercial outcomes. The aim of my visit was to turn opportunities into deals, but I need the support of the government of Uganda, business, and most importantly, the people of Uganda if we are to strengthen trade relations to grow our mutual prosperity”
Uganda celebrates the 60th year of independence in 2022 and the 50th anniversary of the expulsion of Ugandan Asians, of which Lord Popat is one, according to the statement.
President Museveni said that Uganda and the UK should be taking advantage of their shared values and history to further their business and trading links.
“The commonwealth is the only international organization where we don’t speak through translators. So, your coming back is a good thing. We should even work more," he said.
Last year, British company McDermott signed a £1.5bn deal to construct an oil pipeline across the country.
During the visit, Lord Popat discussed the Africa Free Trade Agreement. It is estimated the agreement will be able to lift an additional 30 million people out of extreme poverty by 2035 and increase exports by 8 per cent.
Lord Popat speaks during the meeting
UK Government has committed £35m to support negotiations and implementation of the deal.
The delayed introduction of the new Uganda Airlines service between Heathrow and Entebbe was also discussed during the meeting. Lord Popat first spearheaded it in 2018, after he helped negotiate the deal with the Ugandan government and Airbus to purchase two new aircraft which had Rolls Royce engines made in the UK.
However, the service has still not commenced with the new Uganda Airlines airbuses sitting on the tarmac in Entebbe. Lord Popat met with the minister of works and Transport to discuss progress and offer UK support to start the service.
Ugandan president promised to push both Uganda Airlines and the Civil Aviation Authority (CAA) to work together to ensure all legal requirements were met.
British high commissioner to Uganda, HE Kate Airey emphasised the need to have direct flights to the UK to promote tourism and links with the UK during the discussions.
“The UK does not believe in short term gain, instead we want to ensure that any investment made in Uganda will have long term sustainable outcomes that will deliver for generations to come. The UK is partnering with Uganda using our unique prosperity offer to support Uganda to catalyse economic growth and boost UK and Uganda’s mutual prosperity," the high commissioner said.
Lord Popat discussion with British envoy
Uganda’s flagship Namanve Industrial Park project, constructed by the British Lagan Group, a deal worth £200m was also brought up at the meeting. The project is almost complete, the statement further said.
Other construction projects included the Kabaale International Airport in Hoima, which represented the largest ever UK Export Finance (UKEF) loan (£270 million) to an African government to help finance the construction of a new international airport.
The campaign for recruiting Ugandan nurses, a collaboration to invest in the Hoima Hospital to serve the development in the area around the new airport, as well as setting up a Moorfield Park Hospital in the region were also discussed.
Lord Popat met with Francis Mwebesa, minister of trade, industry and cooperatives, Ruth Nankabirwa Ssentamu, minister of energy and mineral development, Robert Mukiza, DG Uganda investment authorities, Dr Diana Atwine of the ministry of health and Equity Bank CEO Dr James Mwangi, to explore opportunities.
RELIANCE Industries plans to take its telecom and digital arm, Jio Platforms, public by mid-2026, chairman Mukesh Ambani said on Friday. The announcement sets a new timeline for the long-awaited IPO of a business analysts value at over $100 billion.
At its annual general meeting (AGM), Reliance also announced the launch of an artificial intelligence unit in partnership with Google and Meta.
Ambani had first indicated plans in 2019 to list Jio within five years. On Friday, he told shareholders the company is preparing to file for an IPO next year.
Reuters reported in July that Jio decided against launching an IPO in 2025. Analysts at the time valued the company at over $100 billion.
Jio Platforms includes India’s largest telecom operator, Reliance Jio Infocomm, with more than 500 million users. Backed by investors such as Meta, Google and KKR, the business is central to Ambani’s move to diversify Reliance beyond oil and chemicals into retail, consumer and technology. AI and international expansion are now key areas of growth.
Reliance is also investing $8.8 billion in its chemicals business. It expects retail to grow sales by nearly 10 per cent a year on a like-for-like basis and plans to add 2,000–3,000 new stores annually.
“Jio is not being fully valued within Reliance's broader petrochemicals and retail portfolio, and a separate listing would help unlock higher value for the telecom and digital unit,” said Saurabh Parikh, senior analyst at ICRA Ltd.
AI Unit with Meta and Google
Reliance and Meta announced a new AI joint venture with an initial investment of around $100 million. Meta CEO Mark Zuckerberg told the AGM the venture will provide Meta’s open-source AI models to Indian businesses.
Google will partner with Reliance to deploy AI across energy, retail, telecom and financial services. It will also set up a Jamnagar Cloud region dedicated to Reliance, Google CEO Sundar Pichai said at the meeting.
The partnerships come as India-US relations face tensions following US President Donald Trump’s decision to impose 50 per cent tariffs on Indian exports in response to India’s purchase of Russian oil.
Reliance runs the world’s largest refining complex in Gujarat and is India’s biggest buyer of Russian oil.
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Asda sales fell 0.2 per cent in the three months to June 30, 2025 (AFP via Getty Images)
THE chairman of Asda has admitted the supermarket chain still faces challenges after sales slipped again over the summer, but said the completion of a major IT overhaul was crucial for its recovery.
Allan Leighton told the Times that the long-delayed technology project, called Project Future, had finally been finished after years of setbacks and costs exceeding £1 billion. The work involved separating more than 2,500 systems inherited from former owner Walmart, following Asda’s 2021 takeover by TDR Capital.
Describing the programme, he said it might be “the biggest IT systems change, certainly in Europe, maybe ever”. He added: “The cost is material, but largely that is now behind us.”
The supermarket acknowledged that the switchover had caused “temporary disruption with product availability” both online and in stores, which would weigh on sales through to September.
Leighton explained: “We’ve been doing 50 stores a week, every week, for 10 weeks. The collective scale of that does cause some friction… so that’s where the impact has been.”
Leighton, who rejoined Asda last November after previously leading the business in the 1990s, has focused on price cuts and improving stock levels. He said he did not expect “any miracles” but stressed that completing the IT work and reducing distractions was “very critical” for the turnaround.
Asda has been pouring money into a Rollbackprogramme of price reductions to compete with Tesco, Sainsbury’s and the fast-growing discount chains Aldi and Lidl. The grocer said its average reduction under the scheme was about 22 per cent.
He also voiced concern about government policy, warning that chancellor Rachel Reeves’s approach could push up prices. “There’s no doubt all of this is hitting the pocket of the consumer. And when that happens, that’s not particularly good for anybody. I think there’s more gloom than we’ve seen for a long time,” he was quoted as saying. He added that Reeves risked driving up food bills by “taxing everything in some way shape or form.”
Sales at Asda fell 0.2 per cent in the three months to June 30, excluding fuel, while turnover edged down to £5.3bn. Earlier in the year, sales had fallen nearly 6 per cent.
Data from research firm Kantar showed the supermarket’s market share dropped further over the summer, with sales down 2.6 per cent. Aldi is now close to overtaking Asda as the UK’s third-largest grocer.
Leighton pointed to other parts of the business as bright spots. George, Asda’s clothing and homeware arm, posted 2.5 per cent like-for-like growth, while its convenience format Asda Express rose 8.6 per cent, outpacing the wider market. “We’re more than just a supermarket,” he said, highlighting its clothing stores, cafés and opticians.
Retail analyst Clive Black of Shore Capital said, “Asda’s Q2 performance is not yet at a stage of putting up the bunting, but we are pleased to see for all those in Leeds the signs of improvement, which we anticipate will now follow through into forthcoming quarters.”
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A logo is pictured outside a Jaguar Land Rover new car show room in Tonbridge, south east England. (Photo: Getty Images)
UK VEHICLE exports to the United States rose in July after a new trade deal between London and Washington reduced tariffs, industry data showed on Thursday.
According to the Society of Motor Manufacturers and Traders (SMMT), exports increased 6.8 per cent in July to nearly 10,000 units, following three consecutive months of decline.
The SMMT had earlier reported that exports to the US dropped 55.4 per cent in May compared with the same month last year, with smaller falls recorded in April and June.
"The US remains the largest single national market for British built cars, underscoring the importance of the UK-US trade deal, and July's performance illustrates the impact of this deal," the SMMT said.
The agreement, finalised in May and effective from June 30, cut tariffs on UK car exports to 10 per cent on up to 100,000 vehicles a year.
In April, US President Donald Trump had imposed a 27.5 per cent tariff, reducing demand and forcing manufacturers, including Jaguar Land Rover (JLR) and Aston Martin, to scale back or suspend shipments.
Almost 80 per cent of cars made in the UK last year were exported, mainly to the European Union.
The UK auto industry is largely made up of foreign-owned brands such as Japan’s Nissan and India-owned JLR.
The US is also a major market for UK-produced luxury models from Bentley and Rolls-Royce, both owned by German groups.
THE family of Christian Michel, the British businessman accused of acting as a middleman in the AgustaWestland VVIP helicopter deal, has appealed to the UK government to push for his release from Delhi’s Tihar Jail.
Michel’s relatives met Foreign Office minister Catherine West in London on Tuesday (26). The Foreign, Commonwealth and Development Office (FCDO) said the minister listened to their concerns and updated them on ongoing steps being taken.
The case was also raised by prime minister Keir Starmer with his Indian counterpart, Narendra Modi, during his recent visit to London for the signing of the India-UK free trade agreement.
“The UK government is committed to seeing Christian Michel’s case resolved as soon as possible,” an FCDO spokesperson said. “We continue to provide consular assistance to Mr Michel and his family and have consistently raised his case with the Indian government.”
British officials at the High Commission in Delhi regularly meet Michel in detention, most recently on August 14.
Michel’s son, Alois, said: “An Indian court has recently rejected my father’s appeal for release from prison, even though he has already served the maximum sentence of seven years for the charge on which he was extradited. I have requested the UK government to approach the International Court of Justice because India is not respecting its obligation to the rule of law.”
Indian courts have ruled that Michel still faces charges, including forgery, which could carry a life sentence. He was extradited from Dubai in December 2018 and arrested by the CBI and Enforcement Directorate (ED).
The ED claims Michel received £25.8 million in kickbacks from AgustaWestland, allegations he denies. According to investigators, the helicopter deal signed in February 2010 caused losses of around £341m to the Indian exchequer.
In February this year, the Supreme Court of India granted Michel bail in a CBI case, followed by a Delhi High Court order granting bail in the ED case. However, he has yet to furnish bail bonds. His family fears that accepting bail terms may lead to further charges.
ASIAN entrepreneurs Mohsin and Zuber Issa are moving the headquarters of their global forecourt company, EG Group, from Blackburn to the US in preparation for a major stock market listing in New York.
The firm confirmed that its main office will relocate to Charlotte, North Carolina, while a new base in Bolton, Greater Manchester, will handle its remaining UK operations, the Telegraph reported. The change brings an end to almost 25 years of the company being run from Blackburn.
According to the BBC, Blackburn will retain about 300 jobs, less than half of the current 700 staff.
The move is seen as a milestone for the Issa brothers, who rose from running a small family shop to building one of the world’s largest petrol station businesses.
Despite the shift overseas, the family has continued to invest in Blackburn, with projects including a mosque, luxury homes near their childhood area of Brookhouse, and plans for one of the country’s biggest cemeteries.
Quesir Mahmood, Lancashire County council’s cabinet member for economic development, said, “While this represents a change for the company, our understanding is Blackburn will remain a key base for EG Group, with around 300 staff continuing to work from the borough. This is a significant and ongoing commitment to our borough and one we greatly value.”
However, Conservative councillor Paul Marrow warned the decision could leave the modern building underused. He said, “This is a massive blow to Blackburn. EG Group has been a flagship business headquartered here for many years, and it is particularly sad to see such a reduction in its presence.”
EG Group is preparing for a $13 billion (£9.7bn) flotation on the New York Stock Exchange. The US has become its most important market, generating most of its income.
The company no longer runs any petrol stations in Britain. Last year, Zuber separated its remaining forecourts into a new venture, EG On The Move, which continues to operate from Blackburn.
At present, the brothers each own 25 per cent of EG Group, while private equity firm TDR Capital controls the remaining half. TDR is also the main backer of supermarket chain Asda, which the Issas bought into with the firm in 2021.
EG said its Bolton office would help the company “maintain roots in the north-west” while reflecting its smaller UK and European presence. It did not confirm if the shift would affect jobs.
Earlier this year, Mohsin stepped down as chief executive, handing over the role to former finance chief Russell Colaco. Both brothers are understood to still live locally and remain connected to the community.
Reports have suggested that Zuber had preferred selling the US arm, valued at around $5bn (£3.7bn), instead of pursuing a public listing.
The company, founded as Euro Garages, grew rapidly after acquiring fuel sites from brands such as Esso. A merger with the European Forecourt Retail Group in 2016, backed by TDR, helped it become a global player and later expand aggressively in the US.
That growth relied heavily on cheap borrowing during the years of low interest rates. Rising costs after the pandemic forced EG to cut back and sell assets to reduce debt.