Trump pledges U.S. military support to protect Qatar
U.S. President Donald Trump has signed an executive order pledging U.S. military support to defend Qatar if it comes under attack, following last mont...
Germany’s cabinet has approved a draft 2026 budget on Wednesday featuring record investments and a borrowing level nearly three times higher than last year’s, aiming to strengthen infrastructure and defence while efforts to revive growth.
The country’s borrowing will rise to €174.3 billion ($200 billion) in 2026, up from €50.5 billion ($57.7 billion) in 2024 under the previous government, while investments will reach an unprecedented €126.7 billion ($144.9 billion).
Finance Minister Lars Klingbeil said this shift is important. “It is right that we invest in our security and that we address our investment backlog that has built up over many years.”
The draft budget is part of a medium-term plan through 2029, with total spending of €520.5 billion ($595.6 billion). Interest costs are expected to rise to €66.5 billion ($76 billion) by 2029, above earlier forecasts.
Despite strong investment, Germany faces a €172 billion ($196.7 billion) deficit from 2027 to 2029, prompting strict spending discipline across ministries to limit new expenses and reassess current budgets.
Klingbeil acknowledged the challenges ahead. “Everyone knew that things would get serious in 2027. That’s why I made it really clear in the cabinet, so that no one could say they didn’t know. Now it’s time for everyone to start saving properly.”
The investment increase is supported by a €500 billion ($572.3 billion) infrastructure fund and a March reform that exempts defence spending from Germany’s strict 'debt brake' rule, which caps borrowing at 0.35% of GDP.
Following cabinet approval, parliamentary discussions will begin at the end of September, with final budget approval expected by the end of the year.
A day of mourning has been declared in Portugal to pay respect to victims who lost their lives in the Lisbon Funicular crash which happened on Wednesday evening.
Video from the USGS (United States Geological Survey) showed on Friday (19 September) the Kilauea volcano in Hawaii erupting and spewing lava.
At least eight people have died and more than 90 others were injured following a catastrophic gas tanker explosion on a major highway in Mexico City’s Iztapalapa district on Wednesday, authorities confirmed.
A powerful 7.4-magnitude earthquake struck off Russia’s Kamchatka Peninsula on 13 September with no tsunami threat, coming just weeks after the region endured a devastating 8.8-magnitude quake — the strongest since 1952.
Authorities in California have identified the dismembered body discovered in a Tesla registered to singer D4vd as 15-year-old Celeste Rivas Hernandez, who had been missing from Lake Elsinore since April 2024.
U.S.-based aviation company Boeing is preparing to produce a new narrow-body, single-aisle aircraft to replace its 737 Max model, sources report.
The Organization of Petroleum exporting countries OPEC+ is likely to consider a larger oil production increase of 411,000 barrels per day for November at its meeting next Sunday as rising oil prices encourage the group to try to regain more market share, said sources familiar with the talks.
Chinese electric vehicle manufacturer BYD Co expects exports to account for around 20% of its global sales this year, supported by the launch of new models, the South China Morning Post reported on Monday.
Italy’s ruling League party has said domestic banks should contribute around €5 billion ($5.85 billion) towards the 2026 budget.
U.S. stock markets ended higher on Friday, following largely in-line inflation figures, although indices recorded losses over the week.
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