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Time of India
3 days ago
- Politics
- Time of India
Finance commission reviews devpt works in Varanasi
Varanasi: A 15-member delegation of the 16th Central Finance Commission, led by Chairman Arvind Panagariya, visited Varanasi on Thursday. Upon arrival at Babatpur Lal Bahadur Shastri International Airport, they were welcomed by commissioner S Rajalingam, police commissioner Mohit Agarwal, and district magistrate Satyendra Kumar. Subsequently, the delegation visited Shri Kashi Vishwanath Dham. After performing rituals at the temple, they received information about the corridor construction from authorities concerned. The chairman and members distributed material to the elderly at the Mumukshu Bhavan in the corridor area. The Central Finance Commission members visited the Banarasi Silk Centre, Panaya to learn in detail about the process of making Banarasi sarees. They observed the weaving of Banarasi sarees, stoles, rugs and other items on handlooms and interacted with artisans. They were shown various silk garments made on handlooms, including Banarasi sarees and ladies' suits. The delegation was impressed by the zari work on sarees made 250 years ago. Based on the suggestions from the chairman and members, manager of the Banarasi Silk Centre spoke about plans to establish a museum in Varanasi to display these ancient garments. The members also visited Rasulpur village in the Pindra development block to review the development work. During the inspection, the chairman and members inspected the Amrit Sarovar and the village secretariat. They interacted with the village head and residents to learn about the projects funded by the finance commission. Discussions were held on important tasks related to solid waste management, waste disposal and plastic waste management. The DM provided detailed information about the significance of Amrit Sarovars. The chairman and members also planted saplings by the Amrit Sarovar to convey an environmental message. They then inspected the Dr Sampurnanand Sports Stadium, reviewing new facilities like volleyball, badminton, basketball, swimming pool, tennis courts and athletics track. They expressed satisfaction with the work done at Rasulpur village and the sports stadium. The members also visited Namo Ghat and the Vishwanath Temple on the campus of Banaras Hindu University. Varanasi: A 15-member delegation of the 16th Central Finance Commission, led by Chairman Arvind Panagariya, visited Varanasi on Thursday. Upon arrival at Babatpur Lal Bahadur Shastri International Airport, they were welcomed by commissioner S Rajalingam, police commissioner Mohit Agarwal, and district magistrate Satyendra Kumar. Subsequently, the delegation visited Shri Kashi Vishwanath Dham. After performing rituals at the temple, they received information about the corridor construction from authorities concerned. The chairman and members distributed material to the elderly at the Mumukshu Bhavan in the corridor area. The Central Finance Commission members visited the Banarasi Silk Centre, Panaya to learn in detail about the process of making Banarasi sarees. They observed the weaving of Banarasi sarees, stoles, rugs and other items on handlooms and interacted with artisans. They were shown various silk garments made on handlooms, including Banarasi sarees and ladies' suits. The delegation was impressed by the zari work on sarees made 250 years ago. Based on the suggestions from the chairman and members, manager of the Banarasi Silk Centre spoke about plans to establish a museum in Varanasi to display these ancient garments. The members also visited Rasulpur village in the Pindra development block to review the development work. During the inspection, the chairman and members inspected the Amrit Sarovar and the village secretariat. They interacted with the village head and residents to learn about the projects funded by the finance commission. Discussions were held on important tasks related to solid waste management, waste disposal and plastic waste management. The DM provided detailed information about the significance of Amrit Sarovars. The chairman and members also planted saplings by the Amrit Sarovar to convey an environmental message. They then inspected the Dr Sampurnanand Sports Stadium, reviewing new facilities like volleyball, badminton, basketball, swimming pool, tennis courts and athletics track. They expressed satisfaction with the work done at Rasulpur village and the sports stadium. The members also visited Namo Ghat and the Vishwanath Temple on the campus of Banaras Hindu University. Get the latest lifestyle updates on Times of India, along with Eid wishes , messages , and quotes !
Toronto Star
4 days ago
- Business
- Toronto Star
Bank of Canada hearing less ‘catastrophic' tariff talk from businesses
OTTAWA - Trade-sensitive businesses are telling the Bank of Canada that they're broadly less worried about their 'worst-case tariff scenarios' coming true compared to earlier in the year, a senior central bank official said Thursday. Deputy governor Sharon Kozicki was speaking to the C.D. Howe Institute in Toronto a day after the Bank of Canada held its benchmark interest rate steady at 2.75 per cent. Bank of Canada governor Tiff Macklem on Wednesday said ongoing high levels of uncertainty tied to the trade dispute with the United States are a big factor keeping the central bank on hold while it waits for more information on the looming economic and inflation impact. ARTICLE CONTINUES BELOW Kozicki spoke about how the Bank of Canada is leaning more on non-traditional sources of data to make those decisions, including surveys of businesses and consumers. Heading into Wednesday's rate decisions, she said the central bank's consultations with businesses in sectors particularly affected by trade were informative. While those businesses still broadly expect economic activity to weaken in the months ahead, Kozicki said that, 'overall, firms believed that their worst-case tariff scenarios were much less likely to materialize than they reported earlier this year. 'While uncertainty remains high, there was less talk of catastrophic outcomes.' The Bank of Canada started to lean on non-traditional data sources such as restaurant reservations and credit card transactions for more timely insights during the onset of the COVID-19 pandemic, Kozicki said, when backwards-looking retail data failed to capture the disruption. In today's situation, tracking more granular data such as the volume of trucks crossing the Canada-U.S. border can give monetary policymakers a nuanced look at how the tariffs are impacting imports and exports between the nations, she said. ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW 'Today, in the face of a global trade conflict, we've continued to use – and even expand our reliance on – non-traditional data,' Kozicki said. Heading into Bank of Canada's March interest rate decision, which landed in the early days of tariffs before broad exemptions offered both clarity and confusion, she said the central bank 'relied heavily' on survey data to inform its decision to cut the policy rate by a quarter point. Kozicki said that while traditional macroeconomic data can paint a 'high-level picture,' that could mean the central bank misses 'how economic conditions are affecting different households and businesses.' 'While those data give a good view of the forest, they're not necessarily providing as clear a sightline to the trees. We want to be able to see both,' Kozicki said. More recently, the Bank of Canada has foregone publishing a single, central forecast for the economy in its monetary policy report, instead providing two illustrative 'scenarios' for how the tariff situation might unfold. Macklem said Wednesday that he still expects the Bank of Canada will be less forward-looking than normal as it charts a path for monetary policy. The central bank's next interest rate decision and monetary policy report are due on July 30. This report by The Canadian Press was first published June 5 2025. Politics Headlines Newsletter Get the latest news and unmatched insights in your inbox every evening Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. Please enter a valid email address. Sign Up Yes, I'd also like to receive customized content suggestions and promotional messages from the Star. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy. This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Politics Headlines Newsletter You're signed up! You'll start getting Politics Headlines in your inbox soon. Want more of the latest from us? Sign up for more at our newsletter page.
Glasgow Times
12-05-2025
- Business
- Glasgow Times
5 easy ways to save money on travel money exchange rates
But, there's always a huge amount to do before we go away, so Ban Mahsoub, future partnerships and money services director at Tesco Insurance and Money Services has put together some easy ways to save money when buying your travel money. Ban says it's worth taking physical cash, as well as cards on holiday: 'While paying with a card is becoming more and more popular, there are several benefits to keeping cash on you whilst travelling abroad. "Whether it's tipping, avoiding foreign transaction fees, or simply making everyday purchases, having cash on hand can make life easier. It's also invaluable in emergencies. "Unlike cards or contactless payments, cash doesn't rely on electricity or internet access and is accepted in most places abroad. Keeping a few notes in your wallet ensures you're covered if you come across cash-only spots or face unexpected power outages.' Five holiday money tips from the experts Exchange your currency before you go on holiday Forgetting to change money into the local currency is something almost all of us have done, but it can leave you out of pocket, especially if you leave it so late you need to do it at the airport. Exchanging before you travel means you can shop around for the best deals. A lot of travel bureaus offer a click and collect service and some will price match the best deals. Stores with a bureau can have your order ready as quickly as the following day. Customers with a Tesco Clubcard are eligible for Clubcard Prices discount on travel money when buying their currency in a Tesco store or online. For even more convenience, Tesco Travel Money also offers home delivery. Why you should exchange money before your holiday Airport exchange rates are notoriously poor, and exchange bureaus abroad often come with high transaction fees. Sorting your currency in advance not only means you're likely to get a much better exchange rate, but also gives you peace of mind in case you arrive and can't immediately access an ATM or bureau. It also means you won't get caught out abroad without cash when you need it most or stung by unexpected ATM fees. Check your fees and exchange rates when paying with cards Before you use your debit or credit card abroad to make purchases, it's important to check with your bank whether you'll be charged any fees for making purchases or withdrawing cash. Remember, when paying, choose the local currency as it will usually be cheaper than paying in your own currency. Even if your card is your preferred method of payment, it's always a good idea to carry some cash with you to pay for taxis, excursions, tipping and general expenses that might come up during the first few days of your holiday. Think carefully when withdrawing cash If you don't like the idea of carrying too much cash with you but want to avoid card fees for withdrawing cash abroad, a Multi-currency Cash Passport could be a good option. This is a prepaid travel money card that you can buy in store at Tesco's Travel Money Bureaux or online and load with up to 10 currencies before you go. If you have cash left over at the end of your holiday, Tesco Travel Money buys back most foreign banknotes in the currencies it sells – even if you bought them elsewhere. Customers who also purchase Tesco's Buy Back Promise when ordering their travel money through them can return the currency at the rate they bought it, which may save them money. Recommended reading: How to carry your money while exploring Keep your cards, along with your passport and other vital documents as close to you as possible when you're out and about. Ban recommends recommend always having them on you, so you may want to buy a small cross body bag or a money belt to wear under your clothes, so that if you are carrying other things, you can put them down safely when eating or lounging, knowing that your most important belongings are still carried. This can depend on your location though, so follow local advice. Stay safe on holiday - don't carry all your money on you When possible, ensure your cards and cash are split evenly between several people, so more than one adult carries cards and cash, rather than one person looking after all the cards and another after all the cash. This way, if one person loses their wallet, you still have access to both means. Whether you're travelling alone or with a group, avoid carrying all your cash with you every day and leave some at your accommodation, in a safe. This can be your backup plan if you lose access to your money during a day out.
Yahoo
12-05-2025
- Business
- Yahoo
5 easy ways to save money when buying your travel money
As holidays draw closer - with many planning May half term or bank holiday getaways - it's time to think about travel money, and how to make it work for you. But, there's always a huge amount to do before we go away, so Ban Mahsoub, future partnerships and money services director at Tesco Insurance and Money Services has put together some easy ways to save money when buying your travel money. Ban says it's worth taking physical cash, as well as cards on holiday: 'While paying with a card is becoming more and more popular, there are several benefits to keeping cash on you whilst travelling abroad. "Whether it's tipping, avoiding foreign transaction fees, or simply making everyday purchases, having cash on hand can make life easier. It's also invaluable in emergencies. "Unlike cards or contactless payments, cash doesn't rely on electricity or internet access and is accepted in most places abroad. Keeping a few notes in your wallet ensures you're covered if you come across cash-only spots or face unexpected power outages.' Forgetting to change money into the local currency is something almost all of us have done, but it can leave you out of pocket, especially if you leave it so late you need to do it at the airport. Exchanging before you travel means you can shop around for the best deals. A lot of travel bureaus offer a click and collect service and some will price match the best deals. Stores with a bureau can have your order ready as quickly as the following day. Customers with a Tesco Clubcard are eligible for Clubcard Prices discount on travel money when buying their currency in a Tesco store or online. For even more convenience, Tesco Travel Money also offers home delivery. Airport exchange rates are notoriously poor, and exchange bureaus abroad often come with high transaction fees. Sorting your currency in advance not only means you're likely to get a much better exchange rate, but also gives you peace of mind in case you arrive and can't immediately access an ATM or bureau. It also means you won't get caught out abroad without cash when you need it most or stung by unexpected ATM fees. Before you use your debit or credit card abroad to make purchases, it's important to check with your bank whether you'll be charged any fees for making purchases or withdrawing cash. Remember, when paying, choose the local currency as it will usually be cheaper than paying in your own currency. Even if your card is your preferred method of payment, it's always a good idea to carry some cash with you to pay for taxis, excursions, tipping and general expenses that might come up during the first few days of your holiday. If you don't like the idea of carrying too much cash with you but want to avoid card fees for withdrawing cash abroad, a Multi-currency Cash Passport could be a good option. This is a prepaid travel money card that you can buy in store at Tesco's Travel Money Bureaux or online and load with up to 10 currencies before you go. If you have cash left over at the end of your holiday, Tesco Travel Money buys back most foreign banknotes in the currencies it sells – even if you bought them elsewhere. Customers who also purchase Tesco's Buy Back Promise when ordering their travel money through them can return the currency at the rate they bought it, which may save them money. Recommended reading: Easy phone mistakes on holiday could cost you hundreds Martin Lewis says 'don't pay to pay' on holiday Martin Lewis shares key advice for mobile phone users Keep your cards, along with your passport and other vital documents as close to you as possible when you're out and about. Ban recommends recommend always having them on you, so you may want to buy a small cross body bag or a money belt to wear under your clothes, so that if you are carrying other things, you can put them down safely when eating or lounging, knowing that your most important belongings are still carried. This can depend on your location though, so follow local advice. When possible, ensure your cards and cash are split evenly between several people, so more than one adult carries cards and cash, rather than one person looking after all the cards and another after all the cash. This way, if one person loses their wallet, you still have access to both means. Whether you're travelling alone or with a group, avoid carrying all your cash with you every day and leave some at your accommodation, in a safe. This can be your backup plan if you lose access to your money during a day out.
CBC
07-05-2025
- Politics
- CBC
Canada's allies are wondering if they can still shelter under the U.S. nuclear umbrella
Gone, it seems, are the days when the phrase "going nuclear" was meant figuratively. Since the beginning of the year and the inauguration of the second Trump administration, an increasing number of Washington's closest allies have begun to throw quiet — and sometimes not so quiet — fits about whether they can still count on the decades-old nuclear deterrent capability of the United States. Few places feel that uncertainty more keenly than South Korea. Faced with an erratic, often hostile, nuclear-armed neighbour in North Korea's Kim Jong-un, it probably shouldn't be surprising that recent polling has shown almost three-quarters in the democratic south are in favour of their country acquiring nuclear weapons. While the notion of Canada acquiring nuclear weapons to guard its sovereignty is extremely remote and nowhere on the public policy radar, some of the country's key allies are actively debating what might have seemed unthinkable a few years ago. People in Seoul watch a TV broadcasting a news report on North Korea firing multiple short-range missiles in January. (Kim Hong-Ji/Reuters) Polish Prime Minister Donald Tusk said in early March that his country was looking at gaining access to nuclear arms — more than likely through negotiated security guarantees with France. South Korea, which is in the midst of a presidential election campaign, doesn't have the luxury of a nearby nuclear-armed alternative to the U.S. "As of right now, South Korea is fully reliant on an extended deterrence provided by the United States," said Ban Kil Joo, a former South Korean naval officer, at the Korea National Diplomatic Academy in Seoul. Change in North Korean posture Aside from Washington's mercurial approach to allies, the Korean republic has other reasons to be edgy. Russia and North Korea have signed a strategic partnership that Seoul is worried includes high-tech transfers that could be used in missile technology. And North Korean troops are gaining critical battlefield experience fighting alongside Russian soldiers against Ukraine. More significantly though, Ban said, Pyongyang quietly changed its nuclear posture recently, and that means its weapons are no longer purely defensive. The U.S. and South Korea co-operate to contain North Korea through a bilateral agreement known as the Nuclear Consultative Group, which meets twice a year at the level of senior officials, including defence, military and intelligence. Ban said his country would not simply and unilaterally begin pursuing nuclear weapons and he's personally doubtful it would be a wise policy, regardless. While "all options would still need to be on the table," Ban said, "I don't think nuclear is an option [to pursue] — or be selected as an eligible or relevant policy in the government." Ban Kil Joo, a former South Korean naval officer, does not think pursuing a nuclear weapons program is right for the country. (Murray Brewster/CBC) The enormous cost of maintaining a nuclear arsenal is one drawback, but Ban said his country doesn't want to go down that road and doesn't like the international message it sends in terms of nuclear non-proliferation. "It is not a good sign or not a rational behavior, if South Korea is just going to make nuclear weapons without any negotiation," he said. Having said that, South Korea has not yet signed or ratified the Treaty on the Prohibition of Nuclear Weapons, according to the International Campaign to Abolish Nuclear Weapons. That is likely a calculated strategy on the part of the government in Seoul. Ban said diplomacy needs to be front and centre. "If the United States is willing to provide an upgraded nuclear deterrence to deter any type of North Korea's nuclear threat, there is no reason for South Korea to be armed with nuclear weapons," he said. Even still, the notion of acquiring nuclear weapons does have political traction in Seoul. Former president Yoon Suk Yeol, who was removed from office last month by the country's constitutional court after a failed attempt to declare martial law, openly endorsed the idea. Yoo Yong-won, a member of Yoon's conservative People Power Party (PPP), launched an initiative in the National Assembly known as the Mugunghwa Forum, which aims to boost support for laying the groundwork to quickly go nuclear should the need arise. In negotiations with Washington, much would depend on the demands the Trump administration places on South Korea. Like Canada, the first iteration of Donald Trump's presidency saw demands that Seoul shoulder more of the burden and cost of its defence. The government did raise defence spending, but not as much as Trump wanted, South Korea's deputy defence minister Hyunki Cho told CBC News in a recent interview. Talks have resumed. South Korean deputy defence minister Hyunki Cho said the country is currently in talks with the United States about defence spending. (Murray Brewster/CBC) "I'm limited in what I can say," Cho said. "We are currently in the process of going through these negotiations, but I think I can say that I am pretty confident that President Trump will fully consider what we have done thus far as well as the position the Korean Peninsula has in the Indo-Pacific region." At this point in the discussion, Cho said, the U.S. "has not explicitly asked" South Korea to increase defence spending. The country allocates roughly $50 billion annually — or 2.8 per cent of its gross domestic product — to defence. Researchers at the Washington-based Center for Strategic and International Studies recently noted that the Trump administration has remained silent about whether the U.S. nuclear deterrent is in question. Much of the uncertainty is driven by Trump's threats not to protect allies that don't meet his expectations and spending threshold. Oddly enough, this is where Canada enters into the conversation in South Korea, which has watched the U.S. annexation bluster and economic bullying with a mixture of dismay and alarm. The taunts to Canadian sovereignty are cause for concern, senior officials — at defence and the foreign ministries in Seoul — told CBC News during background briefings. The sense they get is if Canada can be thrown over the side, what does that mean for them and — what do they do about it?
