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The US budget deficit hit $779 billion (Dh2.8 billion) in the fiscal year ending September 30, the highest since 2012 and $113 billion more than in the prior year, the Treasury announced Monday.
The deficit is equivalent to 3.9 per cent of gross domestic product (GDP), up from 3.5 per cent in the 2017 fiscal year, according to the report.
Receipts increased in part due to higher tax payments, while total government borrowing increased by $1 trillion to $15.75 trillion, including $779 billion to finance the deficit.
Japan’s economy shrank in the three months to September, official data showed Wednesday, after a string of natural disasters hit consumer spending and exports, and China’s slowing economy cast a shad
Fertiliser producer EuroChem said it would produce less potash than originally planned this year and would delay the launch of its second plant to the first half of 2019, making its entry into the co
The Gulf Today
US stocks crumbled on Monday, with a sell-off initially sparked by fears of weakening demand for Apple’s iPhone spreading to the rest of the market.
The losses compounded declines from the
Chinese Premier Li Keqiang said on Monday Beijing will further open up its economy in the face of rising protectionism, as he headed for meetings with Asia-Pacific leaders in Singapore that are expec
Around $57.83 billion worth of deals were agreed for the year ahead at the China International Import Expo (CIIE), the official China Daily said on Saturday.
The Nov. 5-10 CIIE, which brin
The Gulf Today