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UK trade official begins India visit to boost economic ties

UK’s Director General of International Trade and Investment Catherine Raines started three-day India visit today to discuss ways to further strengthen economic ties between the two countries.

The British High Commission in a statement said she will meet officials of the ‘Invest India’ to discuss “how the UK and India can partner most effectively, and how the UK’s companies can contribute to and support the Make in India campaign”.


It added that the Director General will also meet representatives of the country’s tech giants such HCL, Wipro, Tech Mahindra and Genpact.

“Raines will meet the UK India Business Council (UKIBC) to discuss the best ways to identify and build new trade partnerships and investment opportunities between the two countries,” the statement said.

Later in the week, she will visit Kochi to inaugurate ‘Innovate 2020’, a new platform to help startups from Kerala.

The platform will encourage technology, engineering and electronics entrepreneurs from South India to join their billion pound growth vision for 2020, focusing on technologies from wireless and embedded engineering to cognitive software.

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UK house price growth slows to 0.3 per cent in October.

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UK house price growth slows as buyers delay decisions ahead of budget

Highlights

  • Average UK house price rose 0.3 per cent in October to £272,226, down from 0.5 per cent growth in September.
  • Annual house price growth edged up to 2.4 per cent, with market remaining resilient despite mortgage rates being double pre-pandemic levels.
  • Buyers delaying purchases amid speculation that November budget could introduce new property taxes on homes worth over £500,000.
British house prices grew at a slower pace in October as buyers adopted a wait-and-see approach ahead of the government's budget announcement on 26 November, according to data from mortgage lender Nationwide.

The average house price increased by 0.3 per cent month-on-month in October to £272,226, down from a 0.5 per cent rise in September. Despite the monthly slowdown, annual house price growth accelerated slightly to 2.4 per cent, up from 2.2 per cent in the previous month.

Robert Gardner, Nationwide's chief economist, said the market had demonstrated broad stability in recent months. "Against a backdrop of subdued consumer confidence and signs of weakening in the labour market, this performance indicates resilience, especially since mortgage rates are more than double the level they were before Covid struck and house prices are close to all-time highs".

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