Uzbekistan expands privatisation drive and launches VAT refunds for foreign tourists
Uzbekistan is advancing plans to reduce the state’s role in the economy while introducing a VAT refund system for foreign visitors, as part o...
French Prime Minister Michel Barnier is expected to resign on Friday after far-right and leftist lawmakers voted to topple his government, plunging France into its second major political crisis in six months.
Barnier, a veteran politician who was formerly the European Union's Brexit negotiator, will be the shortest serving prime minister in modern French history. No French government had lost a confidence vote since Georges Pompidou's in 1962.
The hard left and far right punished Barnier for ramming an unpopular budget through an unruly hung parliament without a vote. The draft budget had sought 60 billion euros ($63.07 billion) in savings in a drive to shrink a gaping deficit.
Barnier's resignation will cap weeks of tensions over the budget, which Marine Le Pen's far-right National Rally said was too harsh on working people. It also further weakens the standing of President Emmanuel Macron, who precipitated the current crisis with an ill-fated decision to call a snap election ahead of the summer Paris Olympics.
Macron faces growing calls to resign, but he has a mandate until 2027 and cannot be pushed out. Still, the long-running political debacle has left him a diminished figure.
France now risks ending the year without a stable government or a 2025 budget, although the constitution allows special measures that would avert a U.S.-style government shutdown.
France's political turmoil will further weaken a European Union already reeling from the implosion of Germany's coalition government, and weeks before U.S. President-elect Donald Trump returns to the White House.
Trump is due to visit Paris on Saturday for the unveiling of the renovated Notre Dame cathedral, and Macron wants to name a prime minister before then, Reuters reported on Wednesday.
France now faces a period of deep political uncertainty that is already unnerving investors in French sovereign bonds and stocks. Earlier this week, France's borrowing costs briefly exceeded those of Greece, generally considered far more risky.
Any new prime minister would face the same challenges as Barnier in getting bills, including the 2025 budget, adopted by a divided parliament. There can be no new parliamentary election before July.
Israeli Prime Minister Benjamin Netanyahu says he has given an instruction for Israel to begin peace talks with Lebanon that would also include the disarming of Hezbollah.
Some geographies are small on the map yet immense in history. The Strait of Hormuz is one. About a quarter of global oil trade and a fifth of LNG flows pass through this narrow corridor - around 20 million barrels per day sustaining the global system.
Afghanistan and Pakistan have agreed to continue dialogue and avoid steps that could worsen tensions after China-hosted talks in Urumqi, with Kabul and Beijing saying the meetings focused on easing differences and improving relations.
Turkish President Recep Tayyip Erdoğan has said Türkiye aims to rank among the world’s top ten exporters of defence technology within the next two years.
Memorial events were held in Tehran’s main squares on Wednesday (8 April) to mark the 40th day since the killing of former Supreme Leader Ayatollah Ali Khamenei, who died during U.S.-Israeli attacks on 28 February.
The European Union and Washington are nearing an agreement to coordinate the production and security of critical minerals, Bloomberg News reported on Friday (10 April).
In a forceful rebuke to Washington’s foreign policy in the Americas, a senior Russian diplomat has declared that Moscow will never abandon Cuba, pledging ongoing support to help the Communist-run island overcome a severe energy crisis linked to the United States embargo.
Hungary votes on Sunday in a parliamentary election that could loosen Viktor Orbán’s 16-year hold on power. His ruling Fidesz faces a strong challenge from Péter Magyar’s Tisza party, which has led some polls, though many voters remain undecided.
While a fragile ceasefire in the Iran war may deliver badly needed relief to economies battered by the world’s worst-ever energy crisis, hopes it will quickly restore normal oil and gas flows from the Middle East are almost certainly misplaced.
Chinese President Xi Jinping has told Taiwan opposition leader Cheng Li-wun that “people on both sides of the Taiwan Strait are Chinese” and that the future of cross-strait ties should be decided by “the Chinese people themselves”.
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