U.S.-Azerbaijan Strategic Working Group to begin operations soon
According to Report, the U.S.-Azerbaijan Strategic Working Group is set to begin its work soon, the press service of the U.S. Department of State said...
Germany's parliament approved on Thursday the nation's first annual budget since sweeping reforms to loosen fiscal rules were passed earlier this year, securing record investments to revive the economy while committing to an increase in defence spending.
The 2025 budget allows for total investment of almost 116 billion euros ($136.94 billion), made possible thanks to a 500-billion-euro infrastructure fund and an exemption from debt rules for defence spending approved in March.
"It is a huge paradigm shift in German fiscal policy," Finance Minister Lars Klingbeil told lawmakers ahead of the vote in the Bundestag, Germany's lower house of parliament.
BOOSTING THE ECONOMY, BOLSTERING DEFENCE
Germany has thrown off decades of fiscal conservatism in the hope that public investment can kickstart the lagging economy, while a boosted defence budget aims to secure future military support for Ukraine and meet more ambitious spending targets for NATO allies.
Under pressure from U.S. President Donald Trump to become more self-reliant in the wake of Russia's invasion of Ukraine, NATO leaders agreed in June to up the defence alliance's spending target to 3.5% of each member's GDP from a previous 2%.
LOOMING BUDGETS GAPS, DIFFICULT DISCUSSIONS
With the 2025 plan secure, the focus of new Chancellor Friedrich Merz's coalition government shifts to budgets for the coming years, with difficult discussions ahead as Merz's conservatives push for savings in welfare, prompting pushback from their Social Democrat partners.
The coalition currently faces a 30-billion-euro hole in its financial plan for 2027.
"We will have to deal with huge challenges there," Klingbeil said, adding, however, that he was confident a solution would be found.
Parliament is set to begin debating the draft 2026 budget next week, with final approval expected in November.
A small, silent object from another star is cutting through the Solar System. It’s real, not a film, and one scientist thinks it might be sending a message.
At least 69 people have died and almost 150 injured following a powerful 6.9-magnitude earthquake off the coast of Cebu City in the central Visayas region of the Philippines, officials said, making it one of the country’s deadliest disasters this year.
A tsunami threat was issued in Chile after a magnitude 7.8 earthquake struck the Drake Passage on Friday. The epicenter was located 135 miles south of Puerto Williams on the north coast of Navarino Island.
The war in Ukraine has reached a strategic impasse, and it seems that the conflict will not be solved by military means. This creates a path toward one of two alternatives: either a “frozen” phase that can last indefinitely or a quest for a durable political regulation.
A shooting in Nice, southeastern France, left two people dead and five injured on Friday, authorities said.
Nokia announced on Tuesday that chipmaker Nvidia will acquire a $1 billion stake in the company.
Türkiye’s main stock index, BIST 100, closed on Friday at 10,941.79 points, recording a 3.14% increase.
Türkiye has emerged as Europe’s largest steel producer and the world’s seventh largest in the first eight months of 2025, producing 36.9 million tonnes last year, according to sector officials.
Germany’s Adidas increased its full-year profit guidance, saying it managed to cushion some of the extra expenses resulting from higher U.S. tariffs.
Germany’s Adidas on Tuesday raised its full-year operating profit forecast, saying it had successfully offset part of the additional costs caused by higher U.S. tariffs.
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