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Iran war casts pall over UK economic update

Editor March 4, 2026 0

London, Mar 3: With oil prices soaring and stocks tanking, the fast-evolving Iran war has cast a pall over the economic forecasts that British Treasury chief Rachel Reeves is set to unveil on Tuesday.

Reeves had hoped her statement to the House of Commons would be a relatively low-key affair, with the forecasts showing the key economic numbers broadly heading in the right direction.

However, economists are warning that the Iran war could upend the forecasts within her Spring Statement, depressing growth, stoking inflation and increasing debt. Perhaps most significantly, the price of Brent international oil standard has spiked by more than 15 per cent this week to over USD 80 a barrel, which if sustained would certainly lead to higher energy bills and inflation and keep a lid on growth.

“With the world plunged into fresh uncertainty, she is likely to strike a highly cautious tone, focusing on maintaining stability and sticking to fiscal rules amid heightened tensions,” said Susannah Streeter, chief investment strategist at Wealth Club, an investment service.

Ahead of her statement, the Treasury said Reeves will stress the importance of economic stability in an increasingly uncertain world.

Reflecting on the decisions the government has taken, Reeves is expected to point to already falling inflation and interest rate cuts, which are easing the cost of living pressures on family finances.

“This government has the right economic plan for our country, in a world that has become yet more uncertain," she is expected to tell lawmakers.

Britain's Labour government, which has lost significant support since it won the general election in 2024 , has been hoping that 2026 would be the year that it was clear the British economy was on a sounder footing than it has been for years.

Some recent economic indicators have pointed to a pickup in growth in the early part of 2026. Inflation is also set to fall sharply in the coming months, prompting the Bank of England to cut interest rates further. Last month, the bank kept its main rate unchanged at 3.75 per cent. (PTI)

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Sopore scientist gains global recognition for black hole research

Suhail Khan Baramulla, Jan 6: A young aerospace engineer from Sopore in north Kashmir’s Baramulla district is proving that dedication and ambition can propel one to global heights. Munaf-ul-Raquib who holds a B.Tech in Aerospace Engineering, has gained international recognition for his research on black holes and cosmology. Munaf-ul-Raquib revealed that his paper on the thermodynamics of black holes was recently published in the International Journal of Science and Research (IJSR). “About a year ago, I conducted research on the gravity of black holes and cosmology, which has now been published in IJSR,” he said. He said that since his research was published in the international journal, he has been receiving opportunities from various countries to participate in research dialogues. Raquib added that in the coming months he is scheduled to participate in international conferences in Paris on April 16 and later in Amsterdam, the Netherlands. The Sopore aerospace engineer noted that he is also participating in various conferences across different countries. Speaking about his research, Munaf-ul-Raquib addressed a fundamental paradox in astrophysics: how black holes can appear to violate thermodynamic laws, particularly concerning entropy.“If we observe a black hole, it seems to contradict thermodynamic principles,” he said. Using the frameworks of Anti-de Sitter space (AdS) and Conformal Field Theory (CFT), Raqeeb’s research proposes a theoretical model that reconciles black hole mechanics with thermodynamics. “In this paper, I have explained how a black hole can function without violating thermodynamic laws,” he said. He described the achievement as both personal and symbolic. “It is a proud moment for me to represent my state, especially Sopore, on an international platform,” he said. Raqeeb shared that Astrophysics was his childhood dream, and his grandfather encouraged me immensely. "After my grandfather passed away during the Covid-19 pandemic, my parents continued to champion my aspirations. My parents left no stone unturned in helping me pursue my dreams,” he said. He said that his academic path included taking the JEE and later the AME CET entrance exams, through which he secured a seat in aerospace engineering at the Nasik Research Centre. “My parents not only supported me morally but also created an environment where I could pursue my dreams freely,” he said. He emphasized the role of family in nurturing talent. “Just as my parents supported me, it is the responsibility of all parents to help their children follow their dreams.” “Young people should avoid wrong practices. They must dream of a beautiful tomorrow but work hard today to make their parents proud,” he further added.

Class 10th, 12th result on Wednesday: Govt

Srinagar, Jan 12: The Jammu and Kashmir Board of School Education (JKBOSE) will declare the result of class 10th and 12th examination on January 14 of, 2026 (Wednesday), minister for education Sakina Itoo said on Monday. Minister for education Sakina Itoo said the government has decided to declare the result of both the classes-10th and 12th on the same day. "We understand that students have been waiting for the results. So we decided that result of both the classes will be declared on Wednesday (January 16 of 2926)," Sakina Itoo said. She said the meeting of the Result Declaration Committee (RDC) will be convened by the Secretary JKBOE along with the members-Director School Education (DSE) Kashmir and Jammu division besides the joint secretaries as well. "We will give the administrative approval to the result instead of getting approved by the chairman," she said. The announcement comes amid the delay in appointment of chairman JKBOSE as the position is lying vacant for the last one year. "After declaration of the results, we will also appoint the permanent chairman for JKBOSE as well," education minister said. An official from JKBOSE said the class 1oth result will be declared on Wednesday morning followed by the declaration of result of class 12th students in late afternoon on the same day. As per the official figures, 94783 students- 68804 from Kashmir and 25,224 students from winter zone areas of Jammu division besides 660 students from Kargil and 95 from Leh district registered for the class 10th JKBOSE examination this year. Also, the examination for class 11th and 12th students was scheduled from November 19 and November 8 of 2025 respectively. Approximately, 81622 students – 64001 from Jammu and 17621 from winter zone areas of Jammu have registered for class 11th examination while 70117 students—56423 from Kashmir and 13694 from winter zone areas of Jammu have registered for class 12th examination.

Class 10th results soon after appointment of new Chairman: JKBOSE

'Results likely to get delayed in absence of Chairman' Jammu, Jan 7: The Jammu and Kashmir Board of School Education (JKBOSE) on Wednesday said the result of the class 10th examinations will be declared soon after the appointment of the Chairman of the Board. The statement comes amid the uncertainty about the declaration of the results by JKBOSE. In an official handout issued here, JKBOSE has advised students not to pay heed to fake links and websites announcing declaration of class 10 results. "Result of class 10th will be declared within few days soon after the appointment of new Chairman," the statement reads. The JKBOSE has stated that the results of annual examination of class 10 of Kashmir valley and winter zone areas of Jammu Division are almost ready. "But its approval by Result Declaration Committee headed by BOSE Chairman is a pre- requisite before its declaration. In absence of the Chairman the results are likely to get a little delayed," it reads. The JKBOSE officials have advised the students to wait for the formal declaration on the official website of the Board- www.jkbose.nic.in. "Students should not get misled by scamesters and fake narratives circulated by some mischievous elements, whose sole aim is to create confusion in the innocent student community," the statement reads.

College contractual faculty seek pay hike, regularisation

Srinagar, Jan 8: Contractual faculty members working in government degree colleges of Jammu and Kashmir Higher Education Department (HED) have expressed strong resentment over what they term as a glaring disparity in salaries, demanding revision of their pay in line with University Grants Commission (UGC) norms and regularisation of their services. The faculty, many of whom hold PhDs and are qualified through NET, SET and JRF, said they have been denied UGC-recommended pay scales despite discharging academic responsibilities equivalent to their regular counterparts. “Hundreds of highly qualified scholars have been pushed into silent suffering. For years, we have been assured that our pay revision is under consideration, but nothing has materialised so far,” said Dr Ishfaq Gowhar, a contractual faculty member. Earlier, Director Colleges J&K had acknowledged the legitimacy of the faculty’s demand, stating that while the issue was genuine, its implementation involved significant financial implications due to the large number of contractual appointments. “We are aware that they deserve salary enhancement, but the number of contractual faculty is huge and it has financial implications,” he earlier said. Dr Gowhar pointed out that contractual lecturers, who form the backbone of the higher education system, continue to work on a fixed monthly honorarium of Rs 28,000, which has remained unchanged for nearly a decade. “The irony is that a Class IV employee with a Class 10 qualification draws a salary exceeding Rs 50,000, while doctorate-holding teachers engaged in teaching, mentoring and academic research are paid a fraction of that,” he said. He added that institutions such as SKUAST-K, University of Kashmir and Islamic University of Science and Technology (IUST) have implemented revised UGC pay scales, but the Higher Education Department has failed to extend similar treatment to its contractual faculty. Dr Gowhar said the demand for “equal work, equal pay” gets prominently featured in election campaigns, raising hopes among contractual teachers. “Promises were made and slogans echoed during elections, but once the process ended, our voices were reduced to silence. Even meeting officials now feels impossible,” he said. He said contractual faculty were not seeking privileges but dignity, fairness and recognition for their service. The faculty appealed to the Jammu and Kashmir Lieutenant Governor Manoj Sinha, Chief Minister Omar Abdullah and the Education Minister to intervene and take concrete steps towards addressing their long-pending demands. “This issue is not merely about salaries. It is about survival, justice and dignity in the classrooms of Jammu and Kashmir,” he said.

AIP condemns Mehbooba Mufti’s remarks, rejects profiling of religious places

Srinagar, Jan 17: Awami Itihaad Party (AIP) Chief Spokesperson Inam Un Nabi on Saturday strongly condemned PDP Chief Mehbooba Mufti’s statement suggesting that if religious places are to be “profiled”, the process should start with temples and Hindu priests, instead of mosques and Imams. Inam Un Nabi said AIP was categorically against profiling of any religious place, irrespective of faith or community and such statements only deepen mistrust and polarisation in society. “Let it be Masjids and Imaams or temples and priests, profiling of religious institutions is unacceptable. AIP rejects it completely. Had the issue involved only temples or priests, AIP would have shown the same resentment and protest as we do for Masjids and Imaams,” he said. The AIP spokesperson said faith is a matter of personal conscience and religious belief and it should not be dragged into a culture of surveillance or administrative interference. “We do not want policing of faith. The role of the administration is to ensure peace and law and order, not to monitor religious identity or religious spaces,” Inam Un Nabi added. He appealed to all political parties to act responsibly and avoid statements that pit one community against another, stressing that Kashmir has a long history of communal harmony which must be protected. “AIP stands for dignity, equality and justice for all. We will oppose any attempt that targets places of worship, whichever religion it belongs to,” he said.

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Iran war casts pall over UK economic update

London, Mar 3: With oil prices soaring and stocks tanking, the fast-evolving Iran war has cast a pall over the economic forecasts that British Treasury chief Rachel Reeves is set to unveil on Tuesday. Reeves had hoped her statement to the House of Commons would be a relatively low-key affair, with the forecasts showing the key economic numbers broadly heading in the right direction. However, economists are warning that the Iran war could upend the forecasts within her Spring Statement, depressing growth, stoking inflation and increasing debt. Perhaps most significantly, the price of Brent international oil standard has spiked by more than 15 per cent this week to over USD 80 a barrel, which if sustained would certainly lead to higher energy bills and inflation and keep a lid on growth. “With the world plunged into fresh uncertainty, she is likely to strike a highly cautious tone, focusing on maintaining stability and sticking to fiscal rules amid heightened tensions,” said Susannah Streeter, chief investment strategist at Wealth Club, an investment service. Ahead of her statement, the Treasury said Reeves will stress the importance of economic stability in an increasingly uncertain world. Reflecting on the decisions the government has taken, Reeves is expected to point to already falling inflation and interest rate cuts, which are easing the cost of living pressures on family finances. “This government has the right economic plan for our country, in a world that has become yet more uncertain," she is expected to tell lawmakers. Britain's Labour government, which has lost significant support since it won the general election in 2024 , has been hoping that 2026 would be the year that it was clear the British economy was on a sounder footing than it has been for years. Some recent economic indicators have pointed to a pickup in growth in the early part of 2026. Inflation is also set to fall sharply in the coming months, prompting the Bank of England to cut interest rates further. Last month, the bank kept its main rate unchanged at 3.75 per cent. (PTI)

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'India-Canada AI Dialogue 2026' highlights bilateral cooperation for responsible AI

Toronto, Jan 21: The Consulate General of India in Canada’s Toronto hosted the “India-Canada AI Dialogue 2026”, emphasising the significance of bilateral cooperation for shared economic and societal benefits.  The event underscored India’s significant role in inclusive, responsible, and impact-driven artificial intelligence (AI). The high-level dialogue was organised in partnership with the University of Waterloo in Ontario, Canada India Tech Council, and Zoho Inc. According to the Indian Consulate General in Toronto, this dialogue is one of the few pre-summit events organised globally as a precursor to one of the biggest AI Summits in the Global South — the ‘India AI Impact Summit 2026’ in New Delhi from February 19–20, designed to gather diverse perspectives and build momentum. The AI Dialogue was attended by over 600 senior leaders, including C-suite executives, policymakers, and researchers from government, industry, academia, and the innovation ecosystem across Canada, who gathered to advance bilateral collaboration in artificial intelligence. Speaking on the significance of the dialogue, Dinesh K. Patnaik, High Commissioner of India to Canada, said, “The India-Canada AI Dialogue 2026 reflects our shared vision for shaping the future of artificial intelligence responsibly," he said. "As we build momentum toward the India AI Impact Summit 2026 in New Delhi, this engagement highlights how trusted partners like Canada can collaborate with India to drive innovation that is inclusive, ethical, and globally relevant.” Addressing the “India-Canada AI Dialogue 2026”, Evan Solomon, Canadian Minister of Artificial Intelligence and Digital Innovation, said, “AI is no longer an abstract or future-facing conversation — it’s shaping how we work, govern, and relate to one another." He said what makes the India-Canada AI Dialogue so important was that it puts impact, accountability, and human outcomes at the center of the discussion. "India and Canada bring different strengths, but a shared responsibility: to make sure this technology serves people, strengthens societies, and delivers real economic value," he said. Additionally, Doug Ford, Premier of Ontario, shared his views on the importance of India-Canada AI Dialogue 2026, stating, “India and Canada share a deep and long-standing partnership, one built on robust trade and investment, people-to-people ties, and research partnerships in emerging technologies such as artificial intelligence.” He also appreciated the Indian Consulate General in Toronto for convening the important gathering and for its continued leadership in fostering collaboration between the two nations. The event also underscored Toronto’s role as a global AI hub and its growing importance as a bridge between North American and Indian AI ecosystems. Highlighting the local ecosystem, Kapidhwaja Pratap Singh, Acting Consul General of India in Toronto, noted, “Toronto is one of the world’s most dynamic AI ecosystems." He said hosting this Dialogue here enabled meaningful connections between India’s rapidly expanding AI landscape and Canadian innovators, creating a strong foundation for continued engagement ahead of the India AI Impact Summit 2026. (IANS)

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PM Modi, German Chancellor Merz share festive moments at International Kite Festival

Ahmedabad, Jan 12: Prime Minister Narendra Modi and German Chancellor Friedrich Merz on Monday participated in the International Kite Festival at the Sabarmati Riverfront in Gujarat's Ahmedabad, witnessing the colour, energy and cultural vibrancy of the annual event.  The International Kite Festival is held every year in Gujarat during January to mark Uttarayan, a significant period in the Hindu calendar that symbolises the sun's northward journey and the beginning of the summer season. The festival attracts participants and visitors from across India and around the world. PM Modi and Chancellor Merz were accorded a warm reception on their arrival at the venue and were presented with traditional Gujarati scarves as a mark of welcome. The atmosphere was festive as artists and performers from different parts of the state showcased traditional dance forms and folk music to greet the visiting German leader and celebrate the spirit of the occasion. Both leaders later joined the celebrations by flying kites, fully immersing themselves in the festivities. The Prime Minister was seen flying a specially designed kite bearing the message 'Bharat -- Vasudhaiva Kutumbakam', reflecting India's philosophy of the world as one family. Some kites also featured the tricolour, Hindu deities and motifs of both leaders. Large crowds gathered along the riverfront to catch a glimpse of the two leaders. Many were seen waving Indian and German national flags, underlining the long-standing friendship and growing partnership between the two countries. Several international participants who had travelled to Gujarat to take part in the festival were also present, and PM Modi and Chancellor Merz interacted with some of them during the event. The Prime Minister was also seen explaining to the German Chancellor the significance of the decorations, customs and traditions associated with the vibrant Uttarayan celebrations, highlighting the cultural importance of the festival in Gujarat. Chancellor Merz arrived in India early on Monday on a visit aimed at further strengthening bilateral relations between India and Germany. Earlier in the day, PM Modi and Chancellor Merz visited the Sabarmati Ashram to pay homage to Mahatma Gandhi, where they viewed an exhibition showcasing Gandhi's life and legacy. The German Chancellor also recorded his remarks in the visitors' book. Later in the day, the two leaders are scheduled to hold bilateral talks at the Mahatma Mandir Convention Centre in Gandhinagar, with discussions expected to focus on enhancing cooperation across various sectors. The India-Germany strategic partnership has recently completed 25 years. In a statement, the Prime Minister's Office said the two leaders will review the progress made in the India-Germany Strategic Partnership, which has recently completed 25 years. "Their discussion will also focus on further intensifying cooperation in trade and investment, technology, education, skilling and mobility, while also advancing collaboration in important domains of defence and security, science, innovation and research, green and sustainable development, and people-to-people ties," the statement reads. The two leaders will also exchange views on regional and global issues, as well as engage with business and industry leaders from India and Germany. (IANS)

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