Global debt rose by around $7.5 trillion in the first three months of the year to hit a record high of over $324 trillion, data from a banking trade group showed on Tuesday.
The Institute of International Finance (IIF) said China, France, and Germany were the largest contributors to the global debt increase, while debt levels declined in Canada, the UAE, and Turkey.
"While the sharp depreciation of the U.S. dollar against major trading partners contributed to the increase in the USD value of debt, the Q1 rise was more than quadruple the average quarterly increase of $1.7 trillion observed since the end of 2022," the IIF said in its Global Debt Monitor.
The global debt-to-output ratio continued to slowly crawl lower, standing just above 325%. However, in emerging markets the ratio hit a record high at 245%.
Total debt in emerging markets rose by over $3.5 trillion in the first quarter to a record high of more than $106 trillion. China alone accounted for over $2 trillion of the rise according to the IIF. China's government debt to GDP is at 93% and expected to hit 100% before the end of the year.
Police in Stuttgart say a car plowed into a group of people, injuring eight, though early findings suggest it was accidental.
Iranian Foreign Minister Abbas Araghchi will meet diplomats from the European troika—France, Germany, and the United Kingdom—in Rome on Friday, ahead of a scheduled fourth round of indirect talks with US Special Envoy for the Middle East, Steve Witkoff.
Lars Klingbeil, Germany’s incoming finance minister, is set to reshape fiscal policy with a sharp focus on defense spending, marking a shift from austerity as Berlin boosts military investment amid global tensions.
Germany edged out of recession with 0.2 % growth in the first quarter, but the recovery looked shaky as unemployment climbed to its highest level since the pandemic and looming U.S. tariffs threatened to stall momentum.
Political directors from France, Britain, and Germany are scheduled to meet with Iranian officials in Rome on Friday, according to two diplomatic sources who confirmed the meeting to Reuters.
A dramatic surge in Asian currencies is signaling a shift in global financial flows, with analysts warning of a potential erosion of long-standing U.S. dollar supremacy.
U.S. President Donald Trump stated on Tuesday that the U.S. will stop airstrikes against Yemen's Houthi rebels after the group agreed to cease attacks on key shipping routes in the Middle East.
U.S. President Donald Trump has hinted at a major announcement later this week, without offering any details, during a wide-ranging Oval Office exchange with Canadian leader Mark Carney.
The European Commission is preparing to propose legal measures next month to phase out the EU's imports of Russian gas and LNG by 2027.
Uber said it would buy a majority 85% stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.
Kremlin spokesperson Dmitry Peskov has announced the upcoming release of a documentary film about Russian President Vladimir Putin.
ChatGPT has rapidly emerged as one of the most influential artificial intelligence tools, transforming how we interact with technology through natural language.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
New Tesla registrations in Denmark collapsed 67 % in April to 180 vehicles, industry data showed Thursday, underscoring a sharp demand drop for the EV maker in one of its once-strong European markets.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Uber said it would buy a majority 85% stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.
China’s Dongfeng Audi Motors will invest $50 million to establish a vehicle manufacturing facility in Afghanistan, a move expected to create hundreds of local jobs and boost industrial growth.
Japanese retailers Aeon and Sumitomo are set to significantly expand their operations in Vietnam, with plans to increase their presence and tap into the country's growing consumer market.
Turkey's Halkbank asked the U.S. Supreme Court to review a lower court ruling saying it can be prosecuted for allegedly helping Iran evade American sanctions, a U.S.-based lawyer for the bank said on Monday.
Europe needs to invest trillions of dollars to modernize its outdated electricity grids and expand energy storage, as green energy use rises and demand surges, analysts and industry leaders say.
A dramatic surge in Asian currencies is signaling a shift in global financial flows, with analysts warning of a potential erosion of long-standing U.S. dollar supremacy.
U.S. President Donald Trump stated on Tuesday that the U.S. will stop airstrikes against Yemen's Houthi rebels after the group agreed to cease attacks on key shipping routes in the Middle East.
U.S. President Donald Trump has hinted at a major announcement later this week, without offering any details, during a wide-ranging Oval Office exchange with Canadian leader Mark Carney.
The European Commission is preparing to propose legal measures next month to phase out the EU's imports of Russian gas and LNG by 2027.
Uber said it would buy a majority 85% stake in Turkish food and grocery delivery platform Trendyol Go for $700 million, as the ride-hailing giant looks to tap new growth markets amid signs of saturation in its mainstay North American business.
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