Kazakhstan to boost BTC pipeline oil exports to 1.7 million tonnes in 2025
Kazakhstan is preparing to raise oil exports through the Baku–Tbilisi–Ceyhan (BTC) pipeline to 1.7 million tonnes next year, Interfax-Kazakhstan r...
Germany’s public debt is projected to climb from 62.5% to 74% of GDP by 2030, driven by record defence and infrastructure spending, according to a report by the European rating agency Scope.
The report highlights the long-term fiscal impact of Berlin’s shift away from its traditional austerity stance. In March, the German parliament approved sweeping spending plans, including a €500 billion ($584 billion) infrastructure fund and a significant boost to defence expenditure.
Scope analyst Julian Zimmermann warned that growing outlays on interest payments, pensions, and healthcare would erode fiscal flexibility. “Despite rising borrowing, the pressure to consolidate the government’s core budget will increase over time,” he said.
According to Scope, the share of freely available funds in the federal budget could plummet from 24% to just 3% by 2035 unless structural reforms in areas such as pensions and the labour market are implemented.
While the infrastructure fund could lift Germany’s long-term growth potential from 0.7% to 1%, the economic stimulus from defence spending will be more limited.
For every euro invested in defence, only 50 cents is expected to directly benefit the domestic economy, the report noted.
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.
Israeli Prime Minister Benjamin Netanyahu met with US President Donald Trump’s Special Envoy for the Middle East, Steve Witkoff, in a meeting held at Netanyahu’s office. Details of their discussions were not disclosed.
The United States has imposed sanctions on officials from the Palestinian Authority (PA) and members of the Palestine Liberation Organisation (PLO), accusing them of undermining peace efforts with Israel.
Germany’s Foreign Minister Johann Wadephul met with Israeli Prime Minister Benjamin Netanyahu in Jerusalem on Thursday, July 31.
A lightning strike measuring 829 kilometres observed in the United States in October 2017 has been confirmed by the World Meteorological Organization (WMO) as the longest recorded lightning event.
In a sharp policy shift, Slovenia has suspended all arms-related trade with Israel, deepening its stance on the Gaza conflict and aligning with its earlier recognition of a Palestinian state.
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