European stocks fall as Trump tariff threats rattle markets
European shares dropped on Friday after President Donald Trump intensified tariff threats against the EU, casting doubt on trade talks and dampening i...
Romania's president to appoint Marcel Ciolacu as PM; new pro-European coalition to tackle budget deficit, tax hikes, and re-run elections after far-right meddling.
Romania's outgoing president Klaus Iohannis designated leftist Social Democrat Prime Minister Marcel Ciolacu to form a new government on Monday after three pro-European parties agreed details of a coalition that gave them a parliamentary majority.
The coalition government, which is expected to receive parliament's vote of confidence later on Monday includes Ciolacu's Social Democrats, centre-right Liberals and the ethnic Hungarian Party UDMR. Including minority representatives, the coalition controls about 54% of seats in the legislative.
Three consecutive ballots to elect a new president and parliament in the European Union and NATO state which shares the longest land border with Ukraine descended into chaos when a little-known far-right pro-Russian politician won the first presidential round on Nov. 24. Amid suspicions of Russian interference, the top court annulled the election.
The new government will need to approve a calendar for a new two-round presidential election. The three parties in the coalition agreed to back a single presidential candidate to prevent the far right from winning. Their candidate at the moment is Crin Antonescu, a former Liberal Party leader.
"I am aware it won't be an easy mandate, it is essential that this government regain investors' confidence," Ciolacu told reporters.
Romania's new cabinet will also have the daunting task of lowering the budget deficit from an expected 8.6% of economic output this year - the EU's largest - to around 7% in 2025 and ratings agencies and analysts expect tax hikes.
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.
A deadly mass shooting early on Monday (7 July) in Philadelphia's Grays Ferry neighbourhood left three men dead and nine others wounded, including teenagers, as more than 100 shots were fired.
The 17th Summit of the Economic Cooperation Organization (ECO) was successfully held in Khankendi, Azerbaijan, highlighting the region’s revival and the deepening economic cooperation among member states.
Dozens of international and domestic flights were cancelled or delayed after Mount Lewotobi Laki Laki erupted on Monday, but Bali’s main airport remains operational.
Washington and Ottawa are once again at odds, as President Trump unveils a sharp new tariff on Canadian goods—citing drug trafficking and trade disputes just weeks ahead of a key deadline.
France recorded over 100 drowning deaths in just one month — a 58% rise from last year — as unusually high temperatures drove more people to water, public health officials say.
Migration offset natural decline for the fourth consecutive year, pushing the European Union’s population to an historic high of 450.4 million in 2024, according to Eurostat figures released on Friday.
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 global oil market may be tighter than headline supply-demand figures suggest, the International Energy Agency (IEA) said Friday, citing rising refinery activity and seasonal summer demand as key drivers of short-term market pressure.
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