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.
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Canadian Prime Minister Mark Carney announced that Canada plans to recognise the State of Palestine at the 80th United Nations General Assembly in September 2025, aligning with France and other nations advocating for Palestinian statehood.
U.S. President Donald Trump will meet with South Korea’s trade delegation in Washington as Seoul races to negotiate a deal before 1 August’s 25 percent tariffs on Korean exports, South Korean officials stated.
A radar fault in the UK’s air traffic control system caused major flight disruptions on 30 July, affecting operations at more than five major airports, including Heathrow, Gatwick and Birmingham.
Hackers used a security flaw in Microsoft SharePoint to target more than 90 state and local government organisations in the United States, cybersecurity researchers revealed this week.
The world’s biggest dance music festival faces an unexpected setback as a fire destroys its main stage, prompting a last-minute response from organisers determined to keep the party alive in Boom, Belgium.
Australian researchers have created a groundbreaking “biological AI” platform that could revolutionise drug discovery by rapidly evolving molecules within mammalian cells.
Australian researchers have pioneered a low-cost and scalable plasma-based method to produce ammonia gas directly from air, offering a green alternative to the traditional fossil fuel-dependent Haber-Bosch process.
A series of earthquakes have struck Guatemala on Tuesday afternoon, leading authorities to advise residents to evacuate from buildings as a precaution against possible aftershocks.
'Superman' continued to dominate the summer box office, pulling in another $57.25 million in its second weekend, as theatres welcome a wave of blockbuster competition following a challenging few years for the film industry.
The World Bank has announced that Tajikistan's medium-term outlook remains favourable, with growth projected to moderate to 7% in 2025 and converge toward a growth rate of 4.5% in 2026 and 5% in 2027.
Adidas saw its shares drop 7.5% in early Wednesday trading after second-quarter sales came in below expectations and the company warned of an added €200 million ($231 million) cost burden from new U.S. tariffs in the second half of 2024.
Spotify projected third-quarter profit below market expectations on Tuesday, citing increased tax expenses linked to employee compensation, despite strong demand for its premium subscription services.
Microsoft is reportedly in advanced negotiations to revise its agreement with OpenAI, aiming to maintain access to the startup’s cutting-edge AI technology even if OpenAI achieves artificial general intelligence (AGI), according to Bloomberg News, which cited sources familiar with the matter.
Türkiye is pressing Iraq to include a clause in a new energy deal that guarantees full utilization of the Kirkuk-Ceyhan oil pipeline, which has remained idle since 2023 due to legal disputes.
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