In the lead-up to France’s surprise parliamentary election, both far-right and leftist parties are gaining momentum, putting pressure on President Emmanuel Macron’s centrist administration. The far-right National Rally party, led by Marine Le Pen, is currently leading in opinion polls but is not expected to win an absolute majority. The party has hinted at policies
Economy
Italian Prime Minister Giorgia Meloni has managed to walk the fine line between pragmatism and conservatism since taking office in 2022. However, the recent G7 summit she hosted in southern Italy showcased her unwavering stance on issues close to her nationalist heart – particularly those related to family and reproduction rights. In the lead-up to
Brazil’s President Luiz Inacio Lula da Silva expressed his willingness to consider Finance Minister Fernando Haddad’s spending cut proposals. However, he made it clear that any fiscal adjustments should not come at the expense of the poor. This suggests that the president is cautious about implementing measures that could further burden vulnerable populations in the
U.S. Vice President Kamala Harris recently announced in Lucerne, Switzerland, more than $1.5 billion in aid for Ukraine, particularly focusing on the country’s energy sector and addressing the humanitarian crisis stemming from Russia’s 27-month invasion. This announcement came during a Ukraine peace summit, underscoring the significance of the aid package to assist Ukraine in these
Contrary to recent reports that have caused turmoil in Indonesia’s currency and bond markets, it has been clarified by senior aide Thomas Djiwandono that President-elect Prabowo Subianto has no intention of increasing the country’s public debt to 50% of GDP. The speculation that Prabowo aimed to raise the debt-to-GDP ratio to 50% has been denied,
French Finance Minister Bruno Le Maire has issued a warning that France could be on the brink of a financial crisis if the far-right party wins in the upcoming elections. Opinion polls suggest that Marine Le Pen’s National Rally (RN) is gaining traction, with promises to reduce living costs and increase public spending. Le Maire
The recent decision by the European Union to impose tariffs on Chinese electric vehicles has been met with opposition from China and various stakeholders. Despite the EU’s argument regarding overcapacity in China’s EV industry, Beijing and industry insiders are eager to de-escalate the situation and strike a deal to avoid additional costs for Chinese electric
On Thursday, Asian currencies showed strength against a weakened dollar due to softer-than-expected U.S. inflation. The yen, however, remained under pressure ahead of the Bank of Japan meeting as U.S. policymakers indicated that interest rates would remain high. The euro and Aussie dollar both saw significant gains, with the euro rising by 0.6% and the
The dollar has stabilized after reaching a four-week high against other major currencies, reflecting the anticipation among traders for vital U.S. inflation data and the Federal Reserve’s forthcoming interest rate projections. Following a robust jobs report last Friday, which hinted at persistent inflation alongside robust growth, the likelihood of the Fed reducing rates in the
Poland is facing increasing expenditure needs related to infrastructure, climate risks, and security costs due to the war in Ukraine. The IMF official emphasized the importance of setting a “very high bar” for further fiscal loosening in order to address these needs. Prime Minister Donald Tusk’s government has already implemented measures such as hiking public
The markets in Asia have been carefully monitoring the aftermath of the rise of right-wing parties in the European Union and how it might affect the unity of the bloc. Despite this uncertainty, EUROSTOXX 50 futures managed to increase by 0.2%, showing some stability after a slight decline on Monday. Similarly, the FTSE futures remained
China, as the biggest official sector buyer of gold, has been steadily increasing its gold reserves over the past 18 months. However, official data from the People’s Bank of China (PBOC) in May showed that their holdings remained unchanged. This news caused a sharp drop in global spot prices, but industry players believe that China