by admin | May 25, 2021 | World
London : Nearly a quarter of the pubs in Britain have closed over the past decade, according to data released on Monday from the Office for National Statistics (ONS).
The statistics show there were around 50,000 pubs in 2008, but the number decreased by 23 percent to around 39,000 in 2018, Xinhua news agency reported.
The main reason was due to more consolidation around bigger pubs, resulting in the disappearance of smaller venues.
Despite the huge number of closures, turnover doesn’t seem to have been impacted. Statistics show the overall turnover of pubs and bars in 2018 remained flat compared with 2008, with inflation taken into account.
Employment at pubs increased by 6 percent in 2018 from 2008 levels, though the number of jobs in pubs dipped during the economic recession.
The rise was largely attributable to a dramatic increase of employees in big pubs, especially those with 10 or more employees. The ONS said the reason is that the big pubs typically require more waiting and kitchen staff to serve food and drinks.
Pubs in Britain employed on average five workers in 2008, compared with eight in 2018, partly due to the closure of smaller pubs.
—IANS
by admin | May 25, 2021 | Opinions

James Corbyn
By Saeed Naqvi,
From Rome to London the contrast was sharp – from political despair to hope. A comprehensive conference on Afghanistan, superbly organised the NATO Foundation, was the only redeeming feature in Rome. Meetings with journalists and think-tanks on the margins were depressing.
The Far Right leader of the ruling coalition, Matteo Salvini of the League, whose early act as Deputy Prime Minister was to order a boat full of North African migrants to be allowed to drift towards Spain, is rising on the popularity charts. He is much the most popular leader in Italy with his anti-immigrant rantings. To firm up ideological bonds, Marine Le Pen, of France’s National Front, visited Salvini recently. If this was not a sufficient shot in the arm for Italian fascists, White supremacist, once President Trump’s soulmate, Steve Bannon, arrived to give a fillip to his plot – Brothers of Italy, they are called, under a title a canopy which Bannon calls “The Movement”. “Bannon is here frequently to confer with Salvini and meet some of us,” says Francesco Galieti, journalist who also advises investors.
Bannon is the spider in the web wherever ultra-nationalism, illiberal economics, leavened with dollops of racism rears its head. On Brexit too he is putting in his mite to accelerate the break with EU. Just as committed on the other side of the debate is the even more powerful, anti-Brexit billionaire, George Soros. They are both in convulsions to save the world from the curse of anti-capitalist headwinds.
There is a common anxiety but with distinct rightwing prescriptions.
Bannon must not be overdrawn but he does represent an impulse to navigate the leaky boat of capitalism away from any real or imaginary leftward lurch.
The desperation of this lot is manifest even as far as Brazil. Jair Bolsonaro, who romanticizes the likes of Pinochet, has support from the same interests who are stitching together fascism in Europe. Steve Bannon has been advising Bolsonaro’s media team. His appearance on a Nigel Farage radio show created a minor storm. Farage, of the former Independence Party, leads the anti-Brexit movement with a self-explanatory title – Leave Means Leave.
Removed from anti-Brexit extremism are countries like Austria, Poland, Hungary and the Nordic North, which are anti migrant, on occasion anti-Semitic. Bannon has no interests here; Soros does.
Against this broad canvas of despairing gloom, I would like to state, on the pain of being repetitious, that Britain provides relief. For many in Britain this relief is mingled with fear because the rightwing media has painted Jeremy Corbyn in lurid colours. The Conservative Party, not to be confused with the rightist aberrations stretches from European continent to Latin America and elsewhere is in convulsions over both Brexit and Corbyn. Prime Minister Theresa May is looking at the “Exit” door in a sort of daze. She does not quite know how to handle the several balls up in the air. A break with EU will prompt Scotland sewing up its own deal with Brussels. Also, since this will entail the border between Belfast and Dublin demanding visa clearances, the Democratic Unionist leader, Arlene Foster, will break with Theresa May, bringing down her government. The whole point about Unionism in Ulster is to be “exactly” like the rest of Britain, says Foster. Any arrangement exclusive to Northern Ireland will not be acceptable to the Unionists.
Meanwhile, the right wing of the Conservatives, say, former Foreign Secretary Boris Johnson and his cohorts are threatening to throw a ginger fit if Brexit is “softened” a means of placating the urge to “remain”, which is noticeable on both sides of the aisle.
Ambiguity afflicts the Labour Party too but it has the advantage of being in the opposition. It is under no compulsion to show its hand. It is simply waiting for an embattled Prime Minister to trip up. That would mean fresh elections which Labour is expected to win easily.
His opponents would not accept it but Labour Party has a charismatic leader in Jeremy Corbyn who has emerged even more firmly in control after the annual Party conference in Liverpool last month.
During his speech, Corbyn made an offer to Theresa May. “Labour MPs would vote for a soft Brexit deal which keeps Britain in the Customs Union with the EU.”
What would be the Labour Party’s position on a growing demand for a fresh referendum on Brexit? I had put this question to Corbyn two months ago. His response was very political. “The people have voted for Brexit in a referendum. Let the government negotiate a deal with Brussels which is acceptable to the British public.”
Corbyn was very conscious of the many inconsistencies among Labour voters, constituency to constituency, during the referendum. But as an opposition leader and Prime Minister in-waiting, his job was to wait for May to make mistakes.
With Corbyn as Prime Minister looming large on the horizon the media, which has placed him consistently in a negative searchlight, has a huge challenge on its hands: how to begin to adjust to the reality of Corbyn.
He continues to say things which make those elements of the Conservative Party who are wrapped in a very Anglaise-Britishness very uncomfortable. For instance he would like schools to have in the text books those aspects of British history which illuminate negative aspects of colonialism. This when the centenary of the Jallianwala Bagh massacre in April 2019 may well be a high profile event during the Indian election season.
Little wonder a magazine like the Economist still makes Corbyn look like Che Guvera, a beret and the revolutionary leader’s trademark beard et al.
(Saeed Naqvi is a commentator on political and diplomatic affairs. The views expressed are personal. He can be reached on saeednaqvi@hotmail.com)
—IANS
by admin | May 25, 2021 | Economy, News
By Arul Louis,
New York : India will “leapfrog” Britain and France to become the world’s fifth largest economy in 2018, ahead of an oncoming major global economic shift towards Asia, according to a British research organisation.
The World Economic League Table (WELT) 2018 released on Monday by Centre for Economics and Business Research (CEBR) said that in dollar terms India will rise from its seventh rank to overtake those European economies next year despite the stumble of demonetisation and the introduction of Goods and Services Tax (GST).
“The World Economic League Table shows that despite temporary setbacks from demonetisation and the introduction of the new GST tax, India’s economy has still catch up with that of France and the UK and in 2018 will have overtaken them both to become the world’s fifth largest economy in dollar terms,” said CEBR Deputy Chairman Douglas McWilliams.
The CEBR projections give India the fifth spot a year ahead of the International Monetary Fund estimates, which move it up in 2019.
According to the IMF, the size of India’s economy is currently $2.439 trillion. With an annual growth rate of 6.7 per cent in 2017 and 7.4 in 2018, it expects the size of India’s economy to be $2.926 trillion in 2019, when it will pull ahead of France and Britain according to its projections.
The world’s largest economies now are the US ($19.362 trillion), China ($11.937 trillion), Japan ($4.884 trillion), Germany ($3.652 trillion), France ($2.575 trillion), Britain ($2.565 trillion) and India, according to the IMF.
CEBR charts a trend of global economic shift to Asia.
“The interesting trend emerging is that by 2032, five of the 10 largest economies will be in Asia, while European economies will be falling down the ranking and the US will lose its top spot,” CEBR Senior Economist Oliver Kolodseike said.
According to WELT estimate, by 2032 three out of the world’s four largest economies will be Asian – China, India and Japan.
Korea and Indonesia are expected to join list of the world’s top 10 economies, with Taiwan, Thailand, Philippines and Pakistan making the top 25 list.
Construction activities are expected to get a tremendous boost, mainly because of India and China, according to CEBR.
“Construction’s share of world GDP is to reach its highest level ever, driven by ultra large global transformational projects,” Graham Robinson, director of Global Construction Perspectives, said.
“The Chinese Belt and Road Initiative and the Indian infrastructural project will boost construction’s share of world GDP to 15 per cent by 2032, probably the highest share of world GDP construction has seen since the pyramids or Great Wall of China were built.”
(Arul Louis can be reached at arul.l@ians.in)
—IANS
by admin | May 25, 2021 | World
London : A call has been made for priority to be given to more direct airlinks between Britain’s northern England and China, a media report said.
It follows new research which shows how direct flights between Beijing and Manchester have delivered significant benefits to the north, Xinhua news agency reported.
The study showed that trade and tourism between Britain’s North and China has boomed since 2015 thanks to the direct flight service.
The report has called for the prioritisation of further direct links to China and other key growth markets to help drive Northern prosperity and balance the British economy.
The study “The China Dividend: One Year On” by economic consultants Steer Davies Gleeve is the most comprehensive analysis ever undertaken into the economic and social impact of a brand new direct, long haul route between two countries.
The study revealed the Manchester-Beijing air route, operated by Hainan Airlines, has driven a significant increase in exports, inward investment and international student numbers into the north.
It also delivered a substantial increase in inbound tourists to the north, with many lured by the region’s natural and historic attractions, luxury shopping sites and Premier League football teams.
“In just one year the Hainan route has brought such significant rewards to the Northern Powerhouse that I feel there is a real appetite in exploring launching airline routes from Manchester to other regions in China,” said Jake Berry MP, Minister for the Northern Powerhouse and Local Growth.
—IANS
by admin | May 25, 2021 | World
Chicago:(IANS) Gold futures on the COMEX division of the New York Mercantile Exchange advanced sharply on Friday as Britain voted to exit the 28-nation European Union (EU).
The most active gold contract for August delivery gained $59.30, or 4.69 per cent, to settle at $1,322.40 per ounce.
Gold advanced to its highest level since July 11, 2014, when gold closed at $1337.40 per ounce, datas collected by Xinhua reports showed on Friday.
US investors displayed fear, triggering a rush to the precious metal as a safe haven after Britain voted to leave the European Union.
The referendum has been dubbed the “Brexit” by investors and is largely seen as a highly destabilising move. Analysts noted that the potential for a Brexit has caused volatility in the market, driving investors to gold to seek refuge from the Brexit vote.
An extensive fall in equities also gave extensive support to the precious metal as the US Dow Jones Industrial Average fell sharply on Friday.
Analysts noted that when equities post losses, the precious metal usually goes up, as investors are looking for a safe haven, while the opposite is true when US equities post gains.
On the US economic front, new orders for manufactured durable goods in May decreased $5.3 billion, or 2.2 per cent, to $230.7, the Commerce Department said on Friday.
Meanwhile, the Thomson Reuters/University of Michigan index of consumer sentiment showed on Friday that the final reading of the consumer sentiment for June fell to 93.5 from 94.7 in May.
On Thursday, gold futures fell for fifth trading days in a row as investors bet that Britain would remain in the European Union after the Brexit referendum.
Analysts believe that the market will be dominated by the Brexit vote in the coming days, and fear will add additional support to the precious metal.
Analysts note that the last US financial crash in 2008 was spread over several days, and that if conditions worsen, the precious metal will likely increase in value due to its safe haven properties.
Silver for July delivery rose 43.60 cents, or 2.51 per cent, to close at $17.789 per ounce. Platinum for July delivery added $20.80, or 2.15 per cent, to close at $987.10 per ounce.