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
It requires Commerce Department to deny any licence requests for AI chip buyers in China, Russia, Iran or North Korea. Published On 4 Dec 20254 Dec 2025 Click here to share on social media share2 Share A bipartisan group of United States senators, including prominent Republican China hawk Tom Cotton, has unveiled a bill that … Read more
Mehdi Hasan debates ex-FM Diana Mondino on Milei’s fitness to lead and his radical ‘chainsaw’ economics. In 2024, Argentina’s far-right President Javier Milei launched an economic overhaul that slashed public spending, gutted state institutions and triggered massive protests. The government dubbed it “chainsaw economics”. Critics say it’s deepening poverty and pushing the country into chaos, … Read more
Despite slowdown, data points to reliance of Chinese economy in the face of Donald Trump’s tariffs. China’s industrial output and retail sales growth have slowed amid trade tensions with the United States. Factory output grew 6.1 percent year-on-year in April, down from a 7.7 percent rise in March, data released by China’s National Bureau of Statistics showed … Read more
Slump comes after customers in Muslim countries boycotted brand over its perceived support for Israel. McDonald’s has cited Israel’s war in Gaza as a factor in the fast food giant missing its first quarterly sales target in nearly four years. McDonald’s CEO Chris Kempczinski said on Monday that the war had had a “disheartening” effect … Read more
Israel is dropping tonnes of bombs on Gaza. It wants to replenish its stock. Russia’s invasion of Ukraine spurred a global rush to buy military equipment last year. Defence spending across the world hit more than $2 trillion. That’s the highest level in inflation-adjusted figures since at least the end of the Cold War, according … Read more