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Budget News

Portugal government adopts 2016 draft budget without EU's approval

Lisbon - The Portuguese cabinet on Thursday adopted its 2016 draft budget without waiting for EU Commission approval, a government spokesman said.

Germany urges strict budget policy to cope with refugees

Frankfurt - Germany's top priority at the moment is taking in and integrating the huge influx of refugees, but that will require a very strict handling of the country's public finances, finance minister Wolfgang Schaeuble said in a newspaper interview Thursday.

Pentagon chief unveils extra funds to bomb IS, counter Russia

Washington - US forces have fired so many smart bombs at Islamic State targets that stocks of the sophisticated weapons are dwindling, Defense Secretary Ashton Carter said Tuesday as he previewed the Pentagon's enormous budget.

Russia announces new budget cuts amid oil slide

Moscow - Russia will cut its spending by 10 percent this year, the finance minister said Wednesday, as prices for Moscow's key export commodity slumped to new lows."We have agreed that ministries and (government) agencies...

Stung by low oil prices, Saudi makes unprecedented cuts

Riyadh - Long accustomed to cheap utilities and some of the lowest petrol prices in the world, Saudis woke to a shock Tuesday as authorities made massive subsidy cuts after falling oil prices caused a record deficit.

German states budget 17 bn euros for refugees in 2016: Report

Berlin - Germany's federal states plan to spend about 17 billion euros in 2016 for the country's record refugee influx, said a newspaper survey Tuesday of their finance ministries.

Ukraine approves IMF-backed austerity budget

Kiev - The Ukrainian parliament on Friday adopted a budget for 2016 with a deficit of 3 percent of GDP, crucial for unlocking much needed aid from the IMF and Western countries.

Rio governor declares health sector emergency ahead of Olympics

Rio De Janeiro - The governor of the Brazilian state of Rio de Janeiro has declared a health sector emergency after public hospitals began limiting services due to funding shortfalls amid wider state budget woes.

Japan PM Abe's cabinet approves largest defence budget

Toukyo - Prime Minister Shinzo Abe's cabinet on Thursday approved Japan's biggest ever annual defence budget, as the country bolsters its military amid territorial rows and concerns over China's expanding naval reach.The cabinet approved 5.05 trillion yen ($41....

Saudi to diversify economy away from oil: King Salman

Riyadh - Saudi King Salman on Wednesday said he has ordered economic reforms to diversify sources of income and reduce high dependence on oil following a sharp drop in crude prices.

Emerging powers rise in IMF as U.S. unblocks reforms

Washington - China, India and Russia will soon speak with a louder voice at the International Monetary Fund.

Austerity cuts challenge European police facing terror threat

London - Europe is facing the spectre of attacks by Islamic State (IS) jihadists with police numbers in some countries hit by austerity cuts, raising questions about whether this is making it easier for assailants to slip through the net.

French new anti-terror spending 'a few hundred million euros'

Paris - Fresh French spending on security in response to the Paris attacks will amount to "a few hundreds of millions of euros (dollars)", a lawmaker said in remarks published Wednesday.

French protest in growing movement against tampon tax

Paris - About 100 people gathered in Paris on Wednesday to protest a French tax on tampons and sanitary pads, as anger grows among women worldwide over high taxation of the essential items.

Op-Ed: Republicans' best trick yet — Making Paul Ryan seem reasonable

Washington - Just when you thought the U.S. Congress couldn't get more out-of-touch with the American people they're supposed to be representing comes this: the House of Representatives has picked Rep. Paul Ryan to be speaker.

U.S. Senate passes budget deal to avert default

Washington - The US Senate passed a bipartisan, two-year budget deal early Friday that boosts federal spending by $80 billion, reduces a government shutdown threat and raises the debt ceiling through the end of Barack Obama's presidency.

The OnePlus X is a budget but 'powerfully beautiful' smartphone

Chinese smartphone brand OnePlus has officially taken the wraps off a new budget handset targeted at people who want a premium phone but can't afford a flagship device. The OnePlus X costs only $249 but still boasts a very respectable spec sheet.

Obama vetoes $612 bn defense bill citing Gitmo, 'gimmicks'

Washington - US President Barack Obama vetoed a $612 billion defense spending bill Thursday, saying it prevented the closure of Guantanamo Bay prison and wasted money on unwanted programs.

Spain eases spending constraints ahead of elections

Madrid - Spain's lower house on Tuesday approved a 2016 budget designed to ease some spending restrictions after years of austerity, ahead of legislative elections due on December 20.The budget provides for increases of 9.3 percent for education, 3.

EU orders Spain to submit new budget as election nears

Brussels - The European Commission on Monday ordered Spain to submit a new draft budget with lower deficit estimates to avoid violating the bloc's tough spending rules, in a blow for the government ahead of Spanish elections.

Obama signs bill averting US government shutdown

Washington - Congress and President Barack Obama steered the US government clear of a shutdown hours before a midnight deadline, approving temporary federal spending that does not defund a women's health care provider as Republicans hoped.

Slovakia to dispute EU migrant quotas in court: PM

Bratislava - Slovakia's leftist Prime Minister Robert Fico said Wednesday his country would take legal action to dispute mandatory quotas adopted by the European Union to relocate 120,000 refugees amid an unprecedented migrant crisis.

Obama urges Congress to approve U.S. budget

Washington - President Barack Obama used his weekly radio and online address Saturday to urge the Republican-controlled Congress to pass a budget in a timely fashion.

Amazon announces surprisingly capable $50 Fire tablet

Amazon has unveiled a new 7-inch Fire tablet that will retail for just $50. It features modest but respectable hardware specifications and the option of purchasing a family-equipping six-pack at reduced cost.

Review: Asus Eeebook X205TA – the £180 laptop with a 12-hour battery

The Asus Eeebook X205TA is an 11.6-inch Windows laptop that costs less than £180. Despite the ultra-low price, it is a surprisingly capable machine that sports a 12hr battery, solid build quality, and enough power to manage any general computing tasks.

Mobile ads are dramatically under-priced, says marketing leader

Last week, the leader of the Mobile Marketing Association advised advertisers that they were being dramatically under-charged for ad videos on mobile platforms. He suggests that supply outweighs demand and that the current low prices cannot last long.

Sweden raises defence budget amid Russia concerns

Stockholm - Sweden will raise defence spending by 10.2 billion kronor (1.09 billion euros, $1.18 billion) for the period 2016 to 2020, the government said Friday amid concerns over Russia's military resurgence.

Microsoft could be building a new budget Surface for Windows 10

Microsoft is reporting to be building a new variant of its popular Surface Pro 3 tablet that will be a lower-end replacement to the Windows RT Surface 2 of September 2013. The new tablet will run full Windows though and is designed to fill a range gap.

Greece hits out at EU opposition to 'humanitarian' law

Atenas - Greece has responded sharply to apparent pressure from the EU not to pass Wednesday a "humanitarian crisis" law that would provide free electricity and food stamps for the poorest households.

Protests blamed as Hong Kong misses growth targets

Hong Kong - Hong Kong's leadership Wednesday blamed months of pro-democracy protests as the economy fell well short of predicted growth in 2014, and said "prolonged political bickering" could do more damage to investor confidence.The growth rate was just 2.
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The dinner shown cost less than $5.45.
The dinner shown cost less than $5.45.
President Barack Obama delivers remarks on the budget negotiations  in the James S. Brady Press Brie...
President Barack Obama delivers remarks on the budget negotiations, in the James S. Brady Press Briefing Room of the White House, Sept. 30, 2013.
White House photo
ARRIVAL: New Jersey Gov. Chris Christie (left) greets U.S. President Barack Obama and FEMA Administr...
ARRIVAL: New Jersey Gov. Chris Christie (left) greets U.S. President Barack Obama and FEMA Administrator Craig Fugate on the tarmac at Atlantic City International Airport after the two federal officials arrived to tour storm damage from Hurrican Sandy in 2012.
White House photo by Chuck Kennedy
Fiscal Year 2009 U.S. Federal Spending – Cash or Budget Basis
Fiscal Year 2009 U.S. Federal Spending – Cash or Budget Basis
CBO 2010 Federal Budget. Notice that Social Security  Medicare and Medicaid amount to 43 percent of ...
CBO 2010 Federal Budget. Notice that Social Security, Medicare and Medicaid amount to 43 percent of total expenditures for FY 2010.
The Indiana House of Representatives.
The Indiana House of Representatives.
Associated Press
Cascade Complex  Idaho  2007.
Photo taken: Sep 11  2007
Cascade Complex, Idaho, 2007. Photo taken: Sep 11, 2007
Altogether Fool
Pie chart showing breakdown of expenditures for 2010 federal budget. Notice Social Security  Medicar...
Pie chart showing breakdown of expenditures for 2010 federal budget. Notice Social Security, Medicare and Medicaid spending amount to 46 percent of total spending.
New Jersey s baboon is finally captured.
New Jersey's baboon is finally captured.
Home baked bread can be a healthy  tasty  inexpensive alternative to store-bought loaves.
Home baked bread can be a healthy, tasty, inexpensive alternative to store-bought loaves.
Couple on couch  working through their budget.
Couple on couch, working through their budget.
Big Stock Photo