June 2022

Hamza Abdi Barre appointed as PM of Somalia 

Hamza Abdi Barre appointed as PM of Somalia 

Somalia’s President Hassan Sheikh Mohamud has appointed a former chairman of the Jubbaland state election commission, Hamza Abdi Barre as the Prime Minister. The 48-year-old Hamza Abdi Barre from the semi-autonomous state of Jubaland replaced Mohamed Hussein Roble. Barre served in a number of public and political roles and from 2011 to 2017 was secretary-general of the Peace and Development Party

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Ministerial meeting on GST rationalisation fails to reach agreement 

Ministerial meeting on GST rationalisation fails to reach agreement 

According to insiders, a group of state ministers working on GST rate rationalisation was unable to achieve an agreement because some members were opposed to modifications to tax slabs and rates. They stated that the Group of Ministers will provide a status report to the GST Council on the consensus reached at the Group of Minister’s previous meeting on November 20, 2021.

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Since 1980s, world’s central banks launch their most hawkish campaign 

Since 1980s, world’s central banks launch their most hawkish campaign 

Central bankers around the world are enacting what could be the most dramatic tightening of monetary policy since the 1980s, risking recessions and upsetting financial markets as they try to deal with an unexpected spike in inflation. The week began with a surprise move on Wall Street to price in a Federal Reserve rate hike of 75 basis points. Chairman Jerome

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Piyush Goyal: After several years, India able to win favourable WTO outcome

Piyush Goyal: After several years, India able to win favourable WTO outcome

Despite a strong global campaign against Indian farmers and fishermen, India was able to secure a favourable outcome at the WTO after many years, commerce and industry minister Piyush Goyal told the media after the conclusion of the 12th ministerial conference — the WTO (World Trade Organisation)‘s highest decision-making body . Piyush Goyal described the conference as a ‘outcome-oriented success’, saying

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RBI raises limit of e-mandates for transactions up to Rs 15,000 

RBI raises limit of e-mandates for transactions up to Rs 15,000 

The Reserve Bank of India (RBI) has raised the Additional Factor of Authentication (AFA) limit from Rs 5,000 to Rs 15,000 per transaction for e-mandates on cards, Prepaid Payment Instruments (PPIs) and Unified Payments Interface (UPI) for recurring transactions. It implies, additional authentication will not be need for payment of Rs 15,000 per transaction. The Reserve Bank of India (RBI) has, over the past

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