Kingdom announces sharp rise in budget shortfall amid the effective closure of the Strait of Hormuz. Published On 6 May 20266 May 2026 Saudi Arabia has posted a sharp rise in its budget deficit amid declining oil revenues due to the effective closure of the Strait of Hormuz. The kingdom’s budget shortfall widened to 125.7 … Read more
Norway, as well as other NATO countries, has been under pressure from the US to boost defence spending. Published On 27 Mar 202627 Mar 2026 Norway is set to raise defence spending by 3.5 percent of its gross domestic product to compensate for rising military equipment costs and to adjust to lessons learned from the … Read more
“S&D has achieved the inclusion of ESF+ [European Social Fund] in next MFF [the EU’s long-term budget, known as the multiannual financial framework] ― a major win for people across Europe,” said a group spokesperson. “Yesterday the ESF+ was out of the MFF. Today it is in it, thanks to the firmness of the S&D … Read more
TAIPEI, Taiwan (AP) — China said Wednesday it will increase its defense budget 7.2% this year, as it continues its campaign to build a larger, more modern military to assert its territorial claims and challenge the U.S. defense lead in Asia. The budget, which adds up to about $245 billion, was announced at the National … Read more
As Britain’s Labour Party government prepares to deliver its first budget this week, the message to Britons for the past few months has been a dispiriting warning that they may not like what they hear. The budget, which will be announced in Parliament on Wednesday, will be “painful,” Prime Minister Keir Starmer said. The Treasury, … Read more
Britain is cutting taxes for workers again ahead of elections. Britain slipped into recession late last year, and many people and businesses are struggling with a high cost of living. The Conservative Party is battling for its electoral future against a bleak economic backdrop.Britain’s spring budget of 2024 was seen as a chance for Chancellor … Read more