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The Latest Breaking News from Finance

G7 commits to $32 billion in budget support for Ukraine in 2023

The Group of Seven (G7) wealthy nations has mobilised up to $32 billion in budget and economic support for Ukraine next year, their finance ministers said in a joint statement on Thursday, adding that they are prepared to give more if needed.

Reuters

Economy can withstand global risks, says finance minister

The Thai economy is still on the recovery path and should grow 3.4% in 2022 and 3.8% next year, supported by a rebound in the vital tourism sector, Finance Minister Arkhom Termpittayapaisith said on Wednesday.

Bangkok Post

Nirmala Sitharaman, 5 other Indians among Forbes' world's 100 most powerful women

NEW YORK: Finance Minister Nirmala Sitharaman, Biocon Executive Chairperson Kiran Mazumdar-Shaw and Nykaa founder Falguni Nayar are among six Indians who have made it to the Forbes' annual list of The World's 100 Most Powerful Women.

The Times of India

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Arkhom defends imposition of tax on SET share sales

The end of the waiver of the financial transaction tax will not affect stock trading, but should ensure fairness in the tax system, according to Finance Minister Arkhom Termpittayapaisith.

Bangkok Post

Kishida specifies 2% of current GDP target for defense, security spending

Prime Minister Fumio Kishida has instructed the defense and finance ministers to boost Japan's defense and security-related spending in fiscal 2027 to 2% of the current gross domestic product.

The Japan News/Yomiuri

Putin, Kudrin touch on future of Yandex in late-night meeting - sources

Russian President Vladimir Putin and former Finance Minister Alexei Kudrin touched on the future of internet giant Yandex in a late night meeting, three people familiar with the matter told Reuters on Friday.

Reuters

Nicola Sturgeon: Scotland to pledge extra cash for countries hit hard by climate change

During last year’s COP26, Scotland became the first developed nation to pledge finance towards the contentious issue.

The National (Scotland)

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Lebanon Steps Back from Plan to Slash Official Exchange Rate

Lebanon has stepped back from plans to slash its 25-year-old official exchange rate with one closer to the market rate, ministerial and political sources said Thursday, amid fears of a backlash from the public. Caretaker Finance Minister Youssef Khalil told Reuters on Sept. 28 the state would re-peg the dollar…

Asharq Al-Awsat

Brazil's Lula may seek more than $39 billion in extra 2023 spending, says aide

Brazilian President-elect Luiz Inacio Lula da Silva will negotiate in the coming weeks an increase in 2023 government spending that could exceed 200 billion reais ($39 billion), said his former Finance Minister and close aide Guido Mantega.

Reuters

Michael Pascoe: The budget without reply

Next Thursday the Sydney Liberal Party faithful are being invited to pay $880 a seat for lunch and to listen to a budget reply.

The New Daily

Pacific Rim finance leaders mull ways to curb inflation

Finance ministers of major Pacific Rim economies have pledged to combat inflation and seek sustainable growth at a meeting in Bangkok ahead of a summit next month

The Independent UK

India will come out of current global turmoil, move on path of sustained growth: Finance minister

WASHINGTON: Finance minister Nirmala Sitharaman has exuded confidence that India will come out of the current global turmoil and move on the path of sustained recovery on the back of rapid digitisation and steps taken by the government.

The Times of India

Why India Inc. is not taking a Hanuman leap

The one lever that the government could have pulled as it watched private investment decline was to step up public investment

The Hindu

Book release on October 10

Finance Minister K.N. Balagopal will release ‘Post Truth Television’, a book authored by T.K. Santho

The Hindu

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The Hindu

Andhra Pradesh: Buggana blames TDP for State’s tight financial position

The previous government had made massive borrowings, and threw FRBM and other norms to the winds, says the Finance Minister

The Hindu

A.P. Finance Minister to lay foundation for water supply works at Orvakal today

VIJAYAWADA

Bangkok Post

Economy seen up 3.0 to 3.5% this year, says finance minister

The Thai economy is still expected to grow 3.0 to 3.5% in 2022, while a weak baht is helping exports, Finance minister Arkhom Termpittayapaisith said on Wednesday.

AAP

Record tax take improves NZ accounts

A surge in government revenue has improved the New Zealand government's books, delighting Finance Minister Grant Robertson.

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Reuters

Russia has funds to support four regions being annexed - Finance Minister

Russia has funds to support four Ukrainian regions which President Vladimir Putin began annexing last week and these funds are part of the country's budget, Finance Minister Anton Siluanov told parliament.

Asharq Al-Awsat

Saudi Arabia Expects Sustainable Surplus Budgets until 2025

The Saudi Ministry of Finance disclosed estimates of its budgets until 2025, showing positive trends and expectations of sustainable financial surpluses during the medium term. The preliminary statement of the state’s general budget for the fiscal year 2023 expected total expenditures to reach about 1.11 billion riyals ($296 billion), and…

Asharq Al-Awsat

Lebanon: Govt Seen Backtracking from FX Move

The Lebanese finance ministry seemed on Thursday backing away from a Nov. 1 start date to slash the official exchange rate. The ministry said on Wednesday the official exchange rate of 1,507 pounds per dollar would be replaced with one of 15,000, calling this a step towards unifying multiple rates…

Asharq Al-Awsat

Lebanon to Slash Official Exchange Rate from Nov. 1, Finance Min Says

Lebanon plans to slash its official exchange rate, replacing the 1,507 per dollar rate adopted 25 years ago with a rate of 15,000 in a step towards unifying numerous exchange rates, the finance minister told Reuters on Wednesday. The pound has plunged by more than 95% from the official rate…

Reuters

Russia could make asset purchases under budget rule in 2023 -Ifax cites Finance Minister

Russia could make asset purchases under its budget rule next year, when oil prices are above the base level, the Interfax news agency cited Finance Minister Anton Siluanov as saying on Tuesday.

Dublin Live

Budget 2023: All the big winners in €11bn package announced by Government

Finance Minister Paschal Donohoe and Public Expenditure Minister Michael McGrath addressed TDs at lunchtime today and released the highly anticipated details of next year's Budget

Bangkok Post

Govt plans B820bn in new borrowing in 2023 fiscal year

The cabinet on Tuesday approved new borrowing of about 820 billion baht in the 2023 fiscal year starting Oct 1 to help finance a budget deficit, the Finance Ministry said.

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