UK Government Announces Funding for Local Growth Projects in Scotland The UK Government has pledged nearly £1.4 billion for local growth projects across Scotland over the next decade. Scottish Secretary Ian Murray confirmed the investment, which will benefit all 32 local authorities directly. This funding package mainly aims to boost local economies, create new…
UK Economy Benefits as UKEF and Indonesia Eximbank Sign Landmark MoU UK Export Finance (UKEF) has signed a landmark Memorandum of Understanding (MoU) with Indonesia’s Eximbank to promote trade between the two countries. The agreement focuses on essential sectors such as clean energy, healthcare, and infrastructure across the Indo-Pacific and Africa. With Indonesia being one…
Canada-UK Alliance for Supercomputing and AI Ties Develop Further Today, artificial intelligence (AI) and supercomputing are reshaping industries globally, prompting more investments and attention from governments. The UK Government has also been highly active in the exploration and innovations in these sectors, including forging AI ties. Recently, it has announced an international collaboration with…
United Kingdom on Its Way to Revolutionise Energy with Fusion Power The United Kingdom is making significant strides in fusion energy. The Spherical Tokamak for Energy Production (STEP) programme, is on its way to develop the UK’s first prototype fusion plant. The plant is expected to transform fusion into a commercially viable energy source. Fusion…
UK Gains Membership in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) The United Kingdom is set to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by 15 December 2024, following the final ratification of the treaty by Peru. The agreement spans over five continents and will allow the UK greater access…
UK Economy Grows By 0.6% in the Second Quarter According to the official data from the Office of National Statistics, the UK economy continued its recovery in the second quarter of 2024, rising by 0.6% between April and June. This comes after a 0.7% increase in the first quarter, signifying the economy’s gradual comeback after…
UK International Investment Summit 2024 to Be Organised to Attract Investors The United Kingdom is preparing to host an International Investment Summit on October 14, 2024, aiming to attract global investors. Led by Prime Minister Keir Starmer, the event will highlight the UK’s dedication to growth, innovation, and a business-friendly environment. Key government figures like…
UK Signs Groundbreaking Digital Trade Agreement with 90 Nations The UK has officially joined 90 other nations in signing the World Trade Organization (WTO)’s E-Commerce Joint Initiative. After five years of negotiations, this landmark agreement aims to transform global digital trade, making it faster, cheaper, and more secure. With digital trade currently valued by the…
Progress Being Made on the Implementation of the Economic Crime and Corporate Transparency Act 2023 The first progress report for the implementation and operation of the Economic Crime and Corporate Transparency Act 2023 has been published by the Department for Business and Trade. This act received Royal Assent in October 2023, serving to fight illicit…
The National Wealth Fund Supporting Unicorn Startups in the United Kingdom The UK Government recently announced a new National Wealth Fund to drive economic growth and attract large private sector investments. The fund has targeted investments for inducing high growth of industries, along with investments in creating an environment where most unicorn startups will thrive.…
