Germany's finance ministry is pushing forward with its 2025 and 2026 budget plans, focusing on fiscal savings while addressing security and economic challenges, according to a recent government document.
Germany's new finance minister Lars Klingbeil has initiated preparations for the 2025 and 2026 budgets, emphasizing cost-cutting across ministries despite recent fiscal flexibility created by a €500 billion infrastructure fund and defense spending exemptions.
The finance ministry document outlines three priorities: modernizing infrastructure, implementing structural reforms to enhance competitiveness, and consolidating the budget. Finance ministry state secretary Steffen Meyer emphasized the urgency of addressing security threats, and revitalizing Europe's largest economy.
The 2025 draft budget is set for cabinet approval on June 25, with parliamentary discussions in July and final approval by September. Similarly, the 2026 budget will follow the standard approval timeline, with final adoption in December.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
The Kremlin on Tuesday expressed concern over what it described as a rapidly worsening conflict between Israel and Iran, stating that Israel appears unwilling to engage in mediation efforts.
U.S. President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent had remained at the G7 summit in Canada to continue discussions, while he returned to Washington to address Middle East developments.
US President Donald Trump said he is seeking a complete end to Iran’s nuclear ambitions, dismissing ceasefire prospects and warning Tehran against targeting American forces amid escalating conflict with Israel.
Pyongyang has strongly condemned Washington's push for "strategic flexibility" of US forces in South Korea, warning it could spark regional conflict and accusing the US of pursuing hegemony in the Asia-Pacific.
Tajikistan's President Emomali Rahmon met with Chinese counterpart Xi Jinping on the sidelines of the 2nd Central Asia–China Summit in Astana. President Rahmon noted that Tajikistan places great importance on its "comprehensive strategic partnership" with China.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
Due to recent airspace closures, travellers departing from the United Arab Emirates (UAE) are likely to experience flight disruptions due to the suspension of multiple regional routes. Dubai-based carriers Emirates and flydubai have cancelled multiple flights, as well.
The Kremlin on Tuesday expressed concern over what it described as a rapidly worsening conflict between Israel and Iran, stating that Israel appears unwilling to engage in mediation efforts.
U.S. President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent had remained at the G7 summit in Canada to continue discussions, while he returned to Washington to address Middle East developments.
Pakistan will begin its first freight train service to Russia from Lahore on June 22. The route is part of the INSTC and aims to connect Pakistan's rail network with Central Asia, establishing a new trade corridor via Iran, Turkmenistan, and Kazakhstan.
Peace is no longer a dream. It is a discussion. On the streets of Baku and Yerevan, it is also a question, of trust, of foreign interests, and of who truly wants it.
Israeli strikes have reportedly targeted areas near the residences of Iran’s Supreme Leader Ayatollah Ali Khamenei and President Masoud Pezeshkian, according to the New York Times, citing local witnesses.
Azerbaijan Airlines (AZAL) has cancelled certain flights scheduled for 13th and 14th June amid recent escalation of situation in the Middle East and the closure of airspace in several countries for security reasons.
The Israeli military has issued an evacuation advisory for Iranian civilians living near weapons production sites and associated infrastructure within Iran. The message was shared on the social media platform X in both Arabic and Farsi by an official military spokesperson.
Global oil demand will continue rising until around 2030, even as China’s consumption peaks in 2027, driven by low U.S. gasoline prices and slower EV adoption, the International Energy Agency (IEA) said on Tuesday.
Oil prices rose on Tuesday, with analysts saying that uncertainty would keep prices elevated, even as there were no concrete signs of any production losses stemming from the Iran-Israel conflict.
Central banks around the world expect their gold holdings as a proportion of their reserves to increase over the next five years while expecting their dollar reserves to be lower, a survey by the World Gold Council (WGC) showed.
Donald Trump's media company has filed for a Bitcoin and Ethereum exchange-traded fund (ETF), prompting fresh concerns over potential conflicts of interest as the U.S. President remains active in both politics and cryptocurrency ventures.
Dozens of public companies, including one founded by Donald Trump, are adding bitcoin to their balance sheets, betting big on crypto amid soaring prices and political backing from the U.S. President.
Tajikistan's President Emomali Rahmon met with Chinese counterpart Xi Jinping on the sidelines of the 2nd Central Asia–China Summit in Astana. President Rahmon noted that Tajikistan places great importance on its "comprehensive strategic partnership" with China.
The 2025 G7 Leaders’ Summit was held June 15–17 in Kananaskis, Alberta, under Canada’s presidency. Prime Minister Mark Carney framed the meeting around priorities of protecting communities, energy and climate security, the digital transition, and future partnerships.
Due to recent airspace closures, travellers departing from the United Arab Emirates (UAE) are likely to experience flight disruptions due to the suspension of multiple regional routes. Dubai-based carriers Emirates and flydubai have cancelled multiple flights, as well.
The Kremlin on Tuesday expressed concern over what it described as a rapidly worsening conflict between Israel and Iran, stating that Israel appears unwilling to engage in mediation efforts.
U.S. President Donald Trump said on Tuesday that Treasury Secretary Scott Bessent had remained at the G7 summit in Canada to continue discussions, while he returned to Washington to address Middle East developments.
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