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Britain and EU Clash Over Post-Brexit Fishing Rights in Hague Tribunal

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Britain and the European Union have taken their first legal dispute over post-Brexit fishing rights to the Permanent Court of Arbitration in The Hague. The case, which began on Tuesday, centers on whether Britain’s ban on fishing sandeels in its North Sea waters breaches the EU-UK Trade and Cooperation Agreement (TCA). A three-member panel of legal experts from France, New Zealand, and South Africa will hear arguments for three days and deliver a final ruling by late April. The ban, justified by Britain as necessary for ecological balance, has sparked tensions, with the EU calling it discriminatory and disproportionate.

Though the financial impact is minor, with Britain estimating a maximum revenue loss of £45 million for non-UK vessels, the political ramifications could be significant. A ruling against the ban may lead to EU retaliation, potentially straining Britain’s efforts to “reset” relations with the bloc under Prime Minister Keir Starmer. Environmental groups and Brexiteers have also urged the government to stand firm, creating further complications.

The case highlights broader tensions between the UK and EU, as both sides aim to resolve trade and regulatory disagreements post-Brexit. Britain is also exploring a veterinary agreement to ease food trade and closer defense cooperation with EU leaders. The fishing ban specifically affects Danish fleets that harvest sandeels for animal feed and oil production, while British vessels do not target the species.

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British Businesses Set to Cut Pay Awards Amid Tax Hikes and Economic Pessimism

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A majority of British businesses are planning to reduce staff pay awards in response to upcoming payroll tax increases, according to surveys published on Monday. Incomes Data Research (IDR) revealed that 69% of employers surveyed were moderately or extremely likely to slow pay rises to offset the tax hike announced by Finance Minister Rachel Reeves in her October budget. Over half of respondents said they were “extremely likely” to scale back pay increases, with one-third also considering redundancies. The survey, covering 168 employers and 1.2 million workers, found that 43% expect pay rises between 3.0% and 3.99%, while only 14% anticipate increases of 4% or more.

The Confederation of British Industry (CBI) added to the bleak outlook, reporting only a slight improvement in business sentiment for the next three months. The CBI’s growth indicator rose marginally to -22 in January from a two-year low of -24 in December, as businesses across sectors, including manufacturing, services, and retail, remained pessimistic. Alpesh Paleja, the CBI’s interim chief economist, warned that plans to cut staff and raise prices could exacerbate challenges for policymakers trying to balance growth and inflation control.

These findings come as the Bank of England prepares to announce its interest rate decision on February 6. Most economists expect a quarter-point rate cut, though the long-term trajectory remains uncertain. Meanwhile, Reeves has defended her tax increases as a one-off measure to stabilize public finances, ahead of an upcoming speech outlining her strategy to accelerate Britain’s sluggish economic growth.

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Irish Parliament Vote for Prime Minister Delayed Amid Opposition Protests

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The election of Micheál Martin as Ireland’s new prime minister was delayed by a day after chaotic scenes in the parliament, Dáil Éireann, on Wednesday. The disruption stemmed from protests by opposition lawmakers over speaking rights for independent legislators backing the incoming coalition government. The speaker was forced to suspend proceedings four times before adjourning the session to Thursday morning.

Martin, set to lead a coalition of Fine Gael, Fianna Fáil, and independents, criticized the opposition, particularly Sinn Féin, for what he called a “subversion of the Irish constitution.” He emphasized the importance of electing a taoiseach and forming a government, expressing dismay at the day’s events. Outgoing premier Simon Harris, who was poised to become deputy prime minister, described the disruptions as “stunt politics on speed.”

The delay has postponed Martin’s appointment of new ministers, with the government aiming to finalize the cabinet before the upcoming U.S. presidential inauguration. The opposition’s protest centered on government-supporting independents retaining extended speaking rights, a contentious issue that remains unresolved. Sinn Féin’s David Cullinane accused the coalition and independents of engaging in “stroke politics” that prompted the standoff.

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Lukashenko Set for Seventh Term as Belarus Holds Presidential Election

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Belarus is set for a presidential election on Sunday, with five candidates appearing on the ballot. However, Alexander Lukashenko, who has ruled for 31 years, is assured of victory in what the exiled opposition has labeled a sham election. Opposition leaders have urged voters to reject all candidates as Lukashenko, 70, claims he is too focused on governance to campaign. Critics argue the election lacks genuine competition, as independent media is banned, and around 1,250 political prisoners remain detained, according to human rights groups.

Lukashenko’s tenure has been marked by protests and international condemnation, especially after mass demonstrations against alleged election fraud in 2020. Security forces cracked down on dissent, jailing opposition leaders or forcing them into exile. While recent prisoner releases suggest an attempt to mend ties with the West, opposition figures like Sviatlana Tsikhanouskaya say these moves are strategic, aiming to secure sanctions relief amid the ongoing Russia-Ukraine conflict.

As a close ally of Russian President Vladimir Putin, Lukashenko allowed Belarus to serve as a launchpad for Russia’s 2022 invasion of Ukraine. Analysts suggest that a potential end to the war could open opportunities for Lukashenko to balance relations between Russia and the West, as he has done in the past. However, exiled opposition leaders, including Ivan Kravtsov, admit to struggling to remain relevant as Belarusians prioritize survival over politics.

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Prince Harry’s Legal Battle Against Murdoch’s Newspaper Group Begins in High Court

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Prince Harry’s legal fight against Rupert Murdoch’s News Group Newspapers (NGN) commenced at the High Court in London on Tuesday. The royal, alongside former senior lawmaker Tom Watson, is suing NGN over allegations of unlawful activities, including phone-hacking and private investigator misconduct, carried out by journalists for its publications, The Sun and the defunct News of the World, between 1996 and 2011. Harry seeks accountability, claiming that senior figures within the organization were aware of, and covered up, widespread wrongdoing. His legal team intends to prove that top executives misled police and destroyed crucial evidence to conceal unlawful actions.

In a mission described by Harry as being driven by the pursuit of truth rather than financial gain, he aims to hold the media giant responsible for its actions. The prince’s older brother, Prince William, previously settled his own case against NGN in 2020. Although NGN has paid millions of pounds in previous settlements, the publisher has firmly denied the claims and intends to fully defend its position in court. The trial, which is expected to last for eight weeks, will initially focus on the extent of phone-hacking and other unlawful activities carried out by the newspaper group.

Witnesses set to testify include former Prime Minister Gordon Brown, actors Hugh Grant and Sienna Miller, singer Lily Allen, and Heather Mills, former wife of Paul McCartney. As the case progresses, Harry is set to take the stand himself in February. NGN, which closed News of the World in 2011, denies the allegations, with a spokesperson stating that the claims are “wrong” and will be vigorously contested through testimony from experts and senior staff.

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Iranian Singer Tataloo Sentenced to Death for Blasphemy

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Iranian singer Amir Hossein Maghsoudloo, widely known as Tataloo, has been sentenced to death on blasphemy charges by the Supreme Court, overturning a prior five-year jail term. Reformist newspaper Etemad reported that the court reopened his case after a prosecutor’s objection, with the death sentence issued for insulting Islam’s Prophet Mohammed. The verdict is not final and remains subject to appeal.

Tataloo, a 37-year-old underground musician renowned for his fusion of rap, pop, and R&B, had been living in Istanbul since 2018 but was extradited to Iran in December 2023. He has been in detention since then, facing additional sentences, including 10 years for promoting “prostitution” and accusations of spreading anti-government propaganda and publishing “obscene content.”

Previously, Tataloo garnered attention for his controversial public persona and political ties. He met with ultra-conservative figures, including the late Iranian president Ebrahim Raisi, and once released a pro-nuclear program song in 2015. His sentencing marks a dramatic turn in a career that straddled both underground music and political intrigue.

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Noyb Files Privacy Complaint Against Chinese Firms Over EU Data Transfers

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Vienna-based privacy advocacy group Noyb (None Of Your Business) has filed a landmark privacy complaint against six Chinese companies, including TikTok, Shein, Xiaomi, and AliExpress, alleging unlawful transfers of European Union (EU) user data to China. The complaints, filed across four European countries, seek to halt data transfers and impose fines of up to 4% of global revenues under the EU’s General Data Protection Regulation (GDPR). The companies reportedly admitted to sending user data to China or undisclosed third countries suspected to be China, raising concerns over inadequate data protection in the authoritarian state.

This marks Noyb’s first complaint against Chinese firms, though it has previously targeted U.S. tech giants like Apple, Alphabet, and Meta, resulting in significant fines and investigations. According to Noyb, GDPR prohibits data transfers to countries that fail to meet EU privacy standards. “China is an authoritarian surveillance state, and transferring Europeans’ personal data there is clearly unlawful,” stated Kleanthi Sardeli, a Noyb data protection lawyer. Companies implicated include TikTok, AliExpress, Shein, Temu, Xiaomi, and Tencent’s WeChat.

Chinese firms have been increasingly scrutinized by global regulators, with TikTok particularly under fire. The app faces a federal ban in the U.S. and is under European Commission investigation for allegedly failing to limit election interference, notably in Romania’s presidential elections. The case underscores mounting global concerns about data privacy and foreign surveillance risks tied to Chinese technology companies.

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British Financial Services Minister Tulip Siddiq Resigns Amid Corruption Allegations

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British Minister for Financial Services Tulip Siddiq resigned on Tuesday following weeks of scrutiny over her financial ties to her aunt, Sheikh Hasina, the former prime minister of Bangladesh. Siddiq, 42, denied any wrongdoing but acknowledged her position could become a distraction to the government. While the ethics adviser cleared her of breaching the ministerial code, he noted her lack of vigilance regarding the reputational risks posed by her family’s associations.

Siddiq’s resignation comes as Prime Minister Keir Starmer faces political pressure following the departure of a second minister in two months. Starmer swiftly replaced Siddiq with former pensions minister Emma Reynolds. The resignation is linked to allegations of corruption and money laundering involving Hasina, who was ousted in 2023. Bangladeshi authorities claim financial irregularities tied to infrastructure projects and a $12.65 billion nuclear power contract may have benefited Siddiq’s family.

Documents revealed Siddiq lived in a property gifted by a lawyer associated with Hasina and acquired another from a developer linked to the Awami League. Bangladesh’s interim government, led by Muhammad Yunus, vowed to recover stolen funds and urged Siddiq to seek forgiveness for her actions. Despite Siddiq’s denials, her ties to properties and financial transactions connected to Hasina remain under investigation.

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Zoran Milanovic Secures Second Term as Croatia’s President

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Zoran Milanovic has been re-elected as Croatia’s president, winning nearly three-quarters of the vote in the presidential election. His opponent, Dragan Primorac, backed by the ruling Croatian Democratic Union (HDZ), managed just 25% of the vote, marking the party’s worst-ever electoral performance. The outcome reflects a resounding endorsement of Milanovic despite his frequent critiques of the government.

Prime Minister Andrej Plenkovic, leader of the HDZ, offered a muted response, refraining from congratulating Milanovic and criticizing him as offering “nothing.” Milanovic, in contrast, extended an olive branch, stating he would “offer a hand” to the prime minister. As a ceremonial head of state, Milanovic’s role is constitutionally non-partisan, yet his presidency has been marked by outspoken criticism of the government on issues such as corruption, inflation, and healthcare.

A seasoned politician, Milanovic served as prime minister from 2011 to 2016 and led the centre-left Social Democratic Party (SDP) for nearly a decade. His presidency has also seen controversy, including a failed attempt to run for prime minister last year, ruled unconstitutional by the courts. While Milanovic has condemned Russia’s invasion of Ukraine, his criticism of Western military support for Kyiv has drawn international attention.

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True Legacy: CA. Sreejith Kuniyil’s Approach to Securing Wealth and Protecting Futures

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CA. Sreejith Kuniyil’s presence alone—marked by a warm smile and a firm handshake—instills confidence and ease in any business conversation. As a dynamic entrepreneur with a diverse skill set, he has ventured into paths less explored, crafting an extraordinary journey. His visionary efforts have led to the creation of one of the country’s most harmonious and efficient business ecosystems, setting a benchmark for innovation and success.

From Humble Beginnings to Global Expertise

Growing up in a family that ran a small business, Sreejith quickly learned the value of hard work and ambition. However, he realized that true growth would come from professional education. Driven by this belief, he pursued a career in Chartered Accountancy. His journey took him through renowned global firms like EY, KPMG, Deloitte, and Grant Thornton, where he gained invaluable experience working with multinational clients and large Indian corporations. His expertise spanned complex areas such as restructuring cross-border operations, crafting mergers and acquisition strategies, business restructuring, and handling tax litigation. These experiences laid the foundation for his successful entrepreneurial path.

Forging a Legacy in Business Consulting

With over two decades of experience in consulting and advisory roles at Big Four firms, Sreejith embarked on a transformative journey in 2018 by co-founding CAPITAIRE alongside two partners. The firm was established with a clear vision: to deliver integrated value to the business community. By 2020, Sreejith took the helm independently, propelling CAPITAIRE to prominence as a trusted name among business leaders.

Today, CAPITAIRE stands as Kerala’s premier business and capital consulting firm, renowned for its innovative and impactful solutions. Known as a hub for entrepreneurial brainstorming, it has become the go-to destination for transformative ideas and strategic growth. CAPITAIRE’s core mission is simple yet profound: to protect entrepreneurs and empower their businesses to thrive.

Redefining Business Growth

Years of market experience revealed a key challenge for entrepreneurs: capital. But capital isn’t just about funding—it encompasses building robust systems, processes, and resources. CAPITAIRE has been instrumental in helping businesses prepare for capital investment, structuring organizations to enhance share value, and developing systems that ensure sustainable growth.

Beyond growth, CAPITAIRE focuses on safeguarding entrepreneurs’ assets, implementing succession planning to protect both their capital and their families. Unlike traditional consultants who often work solo, CAPITAIRE takes a collaborative approach. Its core team comprises seasoned Chartered Accountants and finance professionals with deep expertise in tax and regulatory frameworks, ensuring strategies are not only innovative but also actionable.

Breaking New Grounds

In 2020, Sreejith launched PravasiTax, a pioneering tax advisory platform tailored for Non-Resident Indians (NRIs). Having lived as an NRI himself, Sreejith recognized the gap in understanding the complexities of tax regulations, especially regarding banking, real estate investments, stock markets, and income generation for NRIs. Consultants specialized in International Taxation, FEMA, Tax Treaties, Inheritance Laws, and Income Tax Law were in high demand. This need for a focused, expert approach became evident as penalties increased from mishandled notices and tax-related communications. Drawing on his international tax expertise, Sreejith and his team of Chartered Accountants were able to provide secure, comprehensive tax and regulatory solutions for NRIs, ensuring compliance and peace of mind.

Securing Wealth and Legacy

Many individuals, no matter where they live, strive to create a better life for their families, often sacrificing their own well-being in the process. However, in the pursuit of wealth, they frequently overlook securing their assets and ensuring they are passed down as intended. Recognizing this gap, Sreejith founded True Legacy, a platform dedicated to developing and executing succession planning strategies for business owners and High Net-Worth Individuals (HNIs). Through True Legacy, he created tailored solutions for structuring Family Private Trusts, Family Offices, and Wills, ensuring that assets and income are smoothly transferred to the rightful heirs. Furthermore, to empower business leaders and reduce their dependency on consultants, he introduced FINTAXMAN. Through this initiative, he offered masterclasses that equipped entrepreneurs with the knowledge of financial and tax management, helping them gain control over their businesses.

Nurturing Human Capital

Sreejith holds a firm belief that people are the most valuable asset for any organization. Despite the rise of AI, he continues to prioritize human potential, aiming to grow his team and help others build their own. Recognizing the shortage of skilled financial professionals for his ventures and clients, Sreejith created the AFM (Ascent to Finance Manager) module under the Special 40 initiative. This program aims to upskill 40 students in 60 days, equipping them with essential financial knowledge for business success. Sreejith’s dedication to addressing problems head-on is clear through his proactive approach in shaping the next generation of financial leaders.

Additionally, Sreejith is working on his upcoming book, Why Commerce?, set for release in the coming months. This guide explores post-Class X educational options, focusing on the commerce stream, and provides valuable career guidance by evaluating the pros and cons of various professional fields.

Roots and Growth

Although many questioned his decision to base his operations in Kochi, Sreejith takes immense pride in establishing his roots in Kerala. Despite the allure of more lucrative markets in other states, he remained committed to ensuring that his home state benefited first from his entrepreneurial journey. Today, his ventures have expanded into the GCC countries, including the UAE, Qatar, Kuwait, and Saudi Arabia. A firm believer in solo leadership, Sreejith values the flexibility it provides, enabling him to seize opportunities and bring ideas to life swiftly.

The Pillars of His Strength

At the heart of Sreejith Kuniyil’s success is the unwavering support of his family. His wife, Sowmya, formerly a teacher, now serves as a Director at PravasiTax. Recently, she was one of the contestants in the Mrs. Kerala 2024 beauty pageant, where she won the Best Smile award. Their son, Nakul, currently a Class 1 student, has a keen interest in quizzes and trivia, and his enthusiasm adds joy and energy to the family’s journey.

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