News
The UK will host an international AI developers’ conference in November 2024, ahead of the 2025 AI Action Summit. The event aims to strengthen global AI safety frameworks and reduce risks of AI misuse, involving key global developers.
News
UK inflation remains steady at 2.2% in September, with lower petrol prices offset by rising air fares. The Bank of England faces pressure to balance inflation control and economic growth. Households benefit from cheaper fuel but feel the pinch from higher travel costs.
News
Since the Brexit trade deal, UK goods exports to the EU have fallen by 27% and imports by 32%, significantly impacting small businesses due to increased regulations and non-tariff barriers
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UK Trade Secretary Jonathan Reynolds and Trade Policy Minister Douglas Alexander visit the Gulf to enhance trade and investment. They aim to secure a high-quality trade deal, boost economic growth, and showcase the UK as a prime investment destination.
Brand Success story
Tiffany Chang, known as the “Taiwanese culinary goddess,” finds her identity through cooking Taiwanese dishes. She gained fame on Netflix’s Crazy Delicious, where her innovative dishes showcased a blend of Taiwanese and Western flavours, winning over judges.
News
Amazon Web Services (AWS) has announced an £8 billion investment in the UK, creating 1,400 jobs and contributing £14 billion to the UK’s GDP by 2028. AWS aims to boost digital infrastructure and support local innovation and skills development.
News
Since 2019, UK apartment prices have underperformed other property types due to a shift in buyer preferences towards larger homes post-pandemic and safety concerns about cladding.
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Taiwan launched its “Waves of Wonder” tourism brand in London, highlighting its year-round attractions like the Lantern Festival and hot springs, aiming to boost tourism from Europe and America in late 2024.
Government Policies
The UK government has extended the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) until April 2035. This move continues to offer up to 30% tax relief and capital gains tax exemptions, supporting start-ups and boosting economic growth.
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On 3rd September 2024, the UK government awarded nine offshore wind farm contracts, marking a significant boost in renewable energy. These projects will generate 9.6GW, enough for 11 million homes, following last year’s unsuccessful auction.
analysis
The UK aims to boost FDI through a clear strategy, prioritising key sectors and improving the business environment. Efforts are underway despite recent declines in FDI projects
News
The UK plans to raise the windfall tax on oil and gas companies, sparking fears of reduced investment and economic losses. Offshore Energies UK warns that the tax hike could threaten 35,000 jobs by 2029, denting business confidence and growth prospects.