Iraq's Cabinet signs off on $67 billion budget for 2010, well below projected spending needsOctober 14th, 2009 Iraq Cabinet approves $67 billion budget for 2010BAGHDAD — Iraq's Cabinet has signed off on a $67 billion draft budget for 2010 that is well below what officials have said is needed, raising concerns that the shortfall will derail the progress of Iraqi security forces just as they are taking over from withdrawing American troops. Low oil prices have forced Iraq to curtail spending for the second year, complicating efforts to rebuild the country after years of war and construct a military capable of self-defense.
Pa. Legislature finally approves budget, moves state closer to ending longest stalemate in USOctober 9th, 2009 Pa. close to ending longest budget stalemate in USHARRISBURG, Pa. — The Pennsylvania Senate approved a $27.8 billion spending bill, moving the state closer to ending the nation's longest budget stalemate.
Venezuela predicts 2010 economic growth at 0.5 percent, inflation at 22 percent or lessOctober 3rd, 2009 Venezuela predicts 0.5 percent growth in 2010CARACAS, Venezuela — President Hugo Chavez said Friday that Venezuela will base its 2010 budget on expectations of 0.5 percent economic growth and inflation no higher than 22 percent, despite depressed world prices for oil, the nation's biggest export. Venezuela's economy contracted 1 percent in the first half of the year — down from 6 percent growth a year earlier.
Cabinet approves Japanese aid for freight corridorSeptember 17th, 2009 NEW DELHI - The cabinet Thursday approved a proposal to avail Japanese assistance to create the western arm of a dedicated freight corridor costing Rs.26,124 crore.
In the first phase, Japan will provide a soft loan of Rs.17,700 crore to cover the Rewari-Vadodara section, Information and Broadcasting Minister Ambika Soni told reporters here after a cabinet meeting chaired by Prime Minister Manmohan Singh.
Taiwan's Cabinet approves $3 billion typhoon reconstruction budgetAugust 20th, 2009 Taiwan earmarks $3B storm reconstruction budgetTAIPEI, Taiwan — Taiwan's Cabinet approved a NT$100 billion ($3 billion) reconstruction budget Thursday after the island's worst typhoon in more than 50 years killed 500 people and wiped out roads and bridges in the mountainous south. Typhoon Morakot hit nearly two weeks ago and caused more than $2 billion in property damage.
EU approves German plan to purchase banks' troubled assetsJuly 31st, 2009 EU approves German bad bank programBRUSSELS — Germany won European Union approval Friday for a program that purchases troubled assets from banks to encourage them to keep lending. Many banks have curbed new loans when they were forced to put aside large amounts of capital to cover huge potential losses from the sliding value of risky securities and other investments such as those based on U.S.
Putin: Russia to run 7.5 percent budget deficit next year _ the most it can affordJuly 30th, 2009 Russia to run 7.5 pct budget deficit next yearMOSCOW — Russia will next year run a budget deficit equivalent to 7.5 percent of annual economic output, the highest deficit the country can afford, Prime Minister Vladimir Putin said Thursday. Russia is facing its biggest economic test in a decade and is this year running a budget deficit of 9.4 percent of gross domestic product — its first deficit in a decade.
Putin: Russia to run deficit of 7.5 percent of GDP next year, says most country can affordJuly 30th, 2009 Russia to run 7.5 pct deficit in 2010MOSCOW — Russia will next year run a budget deficit equivalent to 7.5 percent of annual economic output, the highest deficit the country can afford without hurting economic stability, Prime Minister Vladimir Putin said Thursday. Russia is facing its biggest economic test in a decade and is this year running a budget deficit of 9.4 percent of gross domestic product — its first deficit in a decade.
Porsche approves $7.1 billion cash infusionJuly 23rd, 2009 BERLIN - The supervisory board of German carmaker Porsche early Thursday approved a 5 billion euro ($7.1 billion) capital increase that could clear the way for a takeover by Volkswagen. The announcement came after a several-hour closed-door meeting to reach an agreement on the future of the iconic sports car maker.
Budget deficit sets May record of $189.7 billion; total for year close to $1 trillionJune 10th, 2009 Budget deficit hits record for May of $189.7BWASHINGTON — The federal budget deficit soared to a record for May of $189.7 billion, pushing the tide of red ink close to $1 trillion with four months left in the budget year. The rising deficit reflects increased government spending due to the recession, and billions of dollars spent on bailouts for banks and other troubled companies.
German gov't approves plan to help state banks offload bad securities; against restructuringJune 10th, 2009 German government approves state bank planBERLIN — Germany's government has approved a plan to take over troubled assets from state-owned banks in exchange for agreements to restructure and merge their operations. Government spokesman Thomas Steg said Wednesday that Chancellor Angela Merkel's cabinet had approved a plan to allow the nation's seven public sector banks to move up to euro600 billion ($846 billion) worth of bad assets off their balance sheets.
German minister: Fiat wants Opel deal without increasing own debt, would keep 3 German plantsMay 4th, 2009 Minister: Fiat bid would keep 3 German Opel plantsBERLIN — Germany's economy minister says Fiat Group SpA wants to take over General Motors Corp's Opel unit without running up debt and would preserve the three main German assembly plants if successful. Economy Minister Karl-Theodor zu Guttenberg says after meeting Fiat CEO Sergio Marchionne that the deal would require short-term financing estimated by Fiat at some €5-7 billion ($6.6-9.3 billion) Europe-wide.
Adding up the numbers in Obama's 100 daysApril 28th, 2009 Doing the math on Obama's 100 daysPresident Barack Obama marked his 100th office on Wednesday, but it's hardly the only digit that matters to the new administration. Some highlights of Obama's first 100 days, by the numbers:
$3.6 trillion — Total spending in Obama's proposed federal budget for 2010.
German Cabinet approves new law to ban child pornography Internet sitesApril 22nd, 2009 German Cabinet approves ban on child porn sitesBERLIN — Chancellor Angela Merkel's Cabinet approved a new law Wednesday to require the vast majority of the country's Internet service providers to block child pornography sites. The new law obliges all providers with more than 10,000 customers — 97 percent of all the providers — to block porn sites identified by the German Federal Criminal Office that feature minors.
Deficit of Rs.84.6 bn in Maharashtra interim budgetMarch 18th, 2009 MUMBAI - The Maharashtra government's interim budget for the current year, presented Tuesday, shows a yawning deficit of over Rs.84.6 billion (Rs.8,462 crore), but no new taxes have been imposed and there has been no cut on developmental expenditure. State Finance Minister Dilip Walse-Patil, unveiling the interim budget in the legislative assembly, emphasised that the Ashok Chavan-led Democratic Front government has earmarked funds to step up power generation, minimise load shedding, augmenting irrigation facilities and focussing on the social sector.
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