California passes partisan redistricting plan to counter Texas maps
California lawmakers have fast-tracked a redistricting plan giving Democrats a potential five-seat gain in Congress, with Governor Gavin Newsom signin...
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 powerful eruption at Japan’s Shinmoedake volcano sent an ash plume more than 3,000 metres high on Sunday morning, prompting safety warnings from authorities.
According to the German Research Centre for Geosciences (GFZ), a magnitude 5.7 earthquake struck the Oaxaca region of Mexico on Saturday.
The UK is gearing up for Exercise Pegasus 2025, its largest pandemic readiness test since COVID-19. Running from September to November, this full-scale simulation will challenge the country's response to a fast-moving respiratory outbreak.
Honduras has brought back mask mandates as COVID-19 cases and a new variant surge nationwide.
Kuwait says oil prices will likely stay below $72 per barrel as OPEC monitors global supply trends and U.S. policy signals. The remarks come during market uncertainty fueled by new U.S. tariffs on India and possible sanctions on Russia.
British American Tobacco is preparing to sell its first disposable vape in the U.S. reversing years of opposition to unauthorised devices amidst a booming $8 billion market for synthetic nicotine products.
Large investors, wary of September’s traditional seasonal downturns, moved to lock in profits on Tuesday, according to traders and research firms – a sign that the sell-off in technology shares may reflect a broader retreat from risk.
Pop Mart has posted stunning interim results for the first half of 2025, riding on the explosive popularity of its breakout character Labubu.
Estee Lauder (EL.N) said on Wednesday that its annual profit forecast has come in below Wall Street expectations, as the cosmetics giant continues to face weakness in the United States and China alongside uncertainty over tariffs.
The U.S. Commerce Department has expanded steel and aluminium tariffs on Tuesday, to include more than 400 products, aiming to protect domestic industries.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment