Latest news with #2015Act
Korea Herald
4 days ago
- Business
- Korea Herald
US keeps S. Korea on its 'monitoring list' for FX policy
The United States has kept South Korea on its list of countries to monitor for their foreign exchange policies, a Treasury Department report showed Thursday, as currency policy has been a topic in trade talks between Seoul and Washington. The department released the updated "monitoring list" in the semiannual "Report to Congress on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States." South Korea was put back on the list in November last year after it was excluded in November 2023 for the first time since April 2016. The latest monitoring list comprises South Korea, China, Japan, Taiwan, Singapore, Vietnam, Germany, Ireland and Switzerland. All except Ireland and Switzerland were on the list in the November 2024 report. The report ascribed South Korea's inclusion on the list to its bilateral trade surplus and material current account surplus. It pointed out that Korea's current account surplus increased considerably during the report period, reaching 5.3 percent in 2024, up from 1.8 percent a year prior -- a rise driven by the goods trade. It also said that Korea should continue to limit currency intervention to exceptional circumstances involving disorderly foreign exchange market conditions. The department vowed to use "all available tools" to implement strong countermeasures against "unfair" currency practices. "President Trump is committed to pursuing economic and trade policies that will spur an American revitalization marked by strong economic growth, the elimination of destructive trade deficits, and countering unfair trade practices," the report read. "This includes combating unfair currency practices that facilitate competitive advantage, such as unwarranted intervention in currency markets." US trading partners are put on the list when they meet two of the three criteria set by the US Trade Facilitation and Trade Enforcement Act of 2015, also known as the 2015 Act. The criteria are a bilateral trade surplus with the US of at least US$15 billion, a material current account surplus of at least 3 percent of gross domestic product and persistent, one-sided intervention in the foreign currency market for at least eight months during a year and with net purchases totaling at least 2 percent of an economy's GDP over a 12-month period. (Yonhap)
New Indian Express
20-05-2025
- Politics
- New Indian Express
'Order appointing KTU temporary V-C unsustainable': Kerala HC
KOCHI: The Kerala High Court on Monday declared unsustainable in law a notification issued by the Chancellor appointing K Sivaprasad, Professor, Department of Ship Technology, CUSAT, as temporary V-C of APJ Abdul Kalam Technological University. Justice Gopinath P, while allowing a petition filed by the state government, however, made it clear that the declaration will not have the effect of dislodging Sivaprasad from the office as his tenure is to expire on May 27. Besides, the court observed that it need not at present interfere with the appointment as frequently changing persons holding the office may not be conducive to the interest of the university and its students. The court directed the government to take steps to recommend to the chancellor the names of persons possessing the qualifications prescribed by the UGC, who can be appointed as a temporary V-C of the university pending the selection of a V-C on a regular basis. The government should take steps to fill the post of V-C of the university in accordance with the provisions contained in Section 13 of the 2015 Act on a regular basis, keeping in mind the provisions of the UGC Regulation on Minimum Qualification for Appointment of Teachers in Universities and Colleges, 2018. The court clarified that the UGC Regulation on Minimum Qualification for Appointment of Teachers in Universities and Colleges, 2018, will govern the method of appointment of the V-C of the university, notwithstanding any contrary provision in the 2015 Act.
Hindustan Times
12-05-2025
- Politics
- Hindustan Times
Rajasthan HC fines two officials for ignoring lake survey orders
The Rajasthan high court has imposed a fine of ₹50,000 each on two bureaucrats for failing to comply with its directions regarding district-wise lake surveys under the Rajasthan Lakes (Protection and Development) Authority Act, 2015. Hearing a suo moto writ petition pending since 2016, the division bench of Justice Shree Chandrashekhar and Justice Chandra Shekhar Sharma on Friday took serious note of continued non-compliance and observed that no sincere effort had been made by the state authorities apart from filing 'half-baked affidavits'. Also Read: Panchkula: Shoddy probe leads to acquittal in railway theft case In its earlier order dated November 18, 2024, the high court had granted three months to complete the survey of lakes across all districts. The order had underlined that while nine lakes had been notified so far, the real task was to conduct a district-wise survey to identify other lakes that must be notified under the 2015 Act. The bench had then specifically directed, 'Let the exercise towards completion of survey be undertaken and all endeavor be made to complete the process of survey within a period of three months.' The order also recorded that the State Level Committee had held a series of meetings with district authorities and required financial assistance from the government to carry out the survey. A phased release of funds was also ordered by the court. However, despite the time given, no compliance affidavit was filed and no application seeking extension was submitted prompting the court to impose costs while observing, 'This must be made known to the State authorities that the Court's order must be complied within the stipulated time and non-compliance of the Court's orders shall be viewed very seriously in the matter like the present one which pertains to public interest.' The court said it saw no justification for the non-compliance. 'It is clear on a glance at the order dated November 18, 2024, that the survey was already ongoing and some meetings were held by the State Level Committee for obtaining survey reports and therefore this Court directed the respondents to complete the survey within three months' time.' The additional advocate general informed the court that the survey was still ongoing, which the bench found unsatisfactory. The court directed both officials to deposit the ₹50,000 each within two weeks with the Registrar (Administration) of the High Court. The amount will be drawn in favour of Government Blind School, Mata ka Than, Jodhpur, and Government Blind School, Jaipur. The matter is now listed for further hearing on May 23, 2025.
RTÉ News
28-04-2025
- Business
- RTÉ News
Minister for Justice to seek significant reform of Irish asylum laws
Minister for Justice Jim O'Callaghan will seek Government approval this morning to progress legislation which will lead to the most significant reform of Irish asylum laws in the history of the State. The minister is expected to tell Cabinet that the current international protection system is not working effectively, with decisions taking far too long. This new legislation which would take effect in the middle of next year would set a three-month time limit for international protection decisions. It would also considerably limit the use of oral hearings for appeals as part of efforts to deliver final decisions quicker. The new the International Protection Bill 2025 will replace the 2015 Act and it will for the first time allow officers to directly issue decisions on returns. This will replace the current system, where international protection officers make recommendations to the Minister for Justice. There have been 42% fewer International Protection applications in the first three months of 2025 compared to the first three months of last year. Tánaiste and Minister for Defence Simon Harris will update the Government on plans to install Ireland's first ever military radar programme. Mr Harris is expected to inform colleagues that his Department has identified four countries with which it will now enter into formal negotiations with a view to beginning the roll-out of the radar programme from 2026. The discussions will involve bilateral discussions at an official level with all four countries before a preferred bidder is selected later this year. Proposals to amend National Training Fund The Minister for Further and Higher Education, Research, Innovation and Science James Lawless will bring a memo to Cabinet outlining proposals to amend the National Training Fund (NTF) Act. This will allow new expenditure commitments announced in Budget 2025 to be delivered from 2026 onwards. A €1.485 billion NTF investment package for the Higher Education sector, spanning a six-year period to 2030, was announced in the last budget. For the first time, NTF resources will support areas not previously eligible for funding such as capital investment, core funding for higher education, and research. The plan includes €650 million for Higher Education and this will increase core funding by an additional €150 million annually by 2030. There will be a €600 million capital programme, with €150 million earmarked for essential training facilities in veterinary, medicine, nursing, pharmacy, and dentistry. Some €150 million has been allocated for upgrading and decarbonising buildings along with €150 million for investment in the Further Education and Training (FET) sector. €150 million will be made available for research, including increased PhD stipends and €235 million in one-off current funding for skills development and apprenticeships.
