World
Brexit: Britain’s credit outlook cut to ‘negative’
London: Britian has had its credit rating outlook downgraded to “negative” by the ratings agency Moody’s after the UK voted to leave the European Union after a historic referendum.
Moody’s said the result would herald “a prolonged period of uncertainty”, BBC reported on Saturday.
Moody’s said the referendum result would have “negative implications for the country’s medium-term growth outlook”, and it lowered the UK’s long term issuer and debt ratings to “negative” from “stable”.
“In Moody’s view, the negative effect from lower economic growth will outweigh the fiscal savings from the UK no longer having to contribute to the EU budget,” the agency said.
It added the UK had one of the largest budget deficits among advanced economies.
The financial assessment came after the UK voted to leave the EU on Friday, and the defeated Prime Minister David Cameron said he would step down as leader by October.
Cameron had urged the country to vote Remain in Thursday’s referendum but was defeated by 59.1 per cent to 48 per cent despite London, Scotland and Northern Ireland backing staying in.
Pro-Leave MP and former London Mayor Boris Johnson is tipped as favourite to replace him.
The result of the referendum, which saw more than 30 million people turn out to vote on Thursday, hit the markets causing British bank shares to lose nearly a third of their value before rallying on Friday afternoon.
Retailers and the AA motoring organisation warned that petrol prices were likely to rise by 2p-3p a litre because of the pound’s fall against the dollar.
Protests have been held around the UK following the EU referendum.
A group of young people disappointed with the result chanted “No borders! No Boris!” outside Downing Street.
In east London, anti-racism demonstrators gathered to declare their support for refugees and migrants, before moving on to the London offices of News Corp, home to the Sun newspaper, which backed Brexit – Britain’s exit.
Similar rallies were held in Glasgow and Edinburgh.
The referendum result could also trigger a second independence referendum in Scotland, which wants to stay in the EU.
A meeting of 27 EU leaders has been scheduled for Wednesday to discuss Brexit – but Cameron is not invited.
Britain is set to be the first country to leave the EU since its formation – but the ‘Leave’ vote does not immediately mean Britain ceases to be a member of the 28-nation bloc.
That process could take a minimum of two years, with ‘Leave’ campaigners suggesting during the referendum campaign that it should not be completed until 2020 – the date of the next scheduled general election.
Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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