US President Joe Biden has announced that an agreement has been brokered with Republican House Speaker Kevin McCarthy to raise the government's debt ceiling This pivotal piece of legislation, now poised for a vote in Congress, requires a simple majority for its enactment. If passed, it would circumvent an unprecedented debt default potentially looming as early as June 5. President Biden characterises the proposed legislation as a "compromise", outlining a two-year budget plan which, in essence, holds non-defence spending steady for 2024.
Russia has started selling its growing reserves of the Chinese currency to fill a budget deficit caused by falling oil and gas revenues and the costs of war. For how long will the yuan shore up Putin's ailing economy?
17 Aug 2022
Officials of the Nigeria Social Insurance Trust Fund (NSITF) currently being questioned by the Nigerian Senate have claimed that some of the payment vouchers relating to the transfer of the sum of 17.16 billion in 2013 have been eaten up by termites.
14 Aug 2022
The European Commission said that Greece had delivered on the bulk of its fiduciary commitments, marking a formal end to the debt crisis that began in 2010 and led to friction between Athens and European creditors.
24 Apr 2022
President Macron's economic manifesto doesn't enthuse every French voter. But when it comes to the plans of his opponent Marine Le Pen, economists have said they could have severe financial consequences.
6 Feb 2022
India's government has announced billions of euros worth of investment in infrastructure, as part of the country's recovery from the economic slump linked to the Covid-19 pandemic. The finance minister unveiled a public spending package totalling more than €470 billion for the next financial year, including money for roads and railways. Also today, we look at the New York Times' deal to buy the popular online game Wordle.
2 Feb 2022
India's budget 2022 plans to ramp up infrastructure spending to support the economy's post-pandemic recovery. Key announcements include a state-backed "digital rupee" and tax on gains from digital currencies.
27 Nov 2021
Dwayne Johnson, the action star whose films pull in big bucks at global box offices, is aiming to entertain viewers in their living rooms with his next movie spectacle, the globe-trotting Netflix heist caper "Red Notice." Johnson stars in the movie with Gal Gadot and Ryan Reynolds about a race to locate and steal three valuable artifacts. The movie will stream on Netflix starting Friday after playing for a week in a limited number of movie theaters. The film ranks among the most expensive ever made by Netflix with a pricetag of roughly $200 million.
7 Nov 2021
The budget was key to helping Naftali's Bennett's fragile coalition remain stable until at least 2023, when he plans to pass the prime ministerial reins to his foreign minister, Yair Lapid.
4 Nov 2021
The passage of the first budget in three years saves the country from facing its fifth election in two years.
30 Oct 2021
It is the first time a budget has been rejected in Portugal since the country's transition to democracy in 1974. The move ends six years of relative stability under Prime Minister Antonio Costa.
10 Sep 2021
Japan's military is looking into developing a new fighter jet and boosting its online and space-related defense systems amid fears of North Korea and China.