Over half of Singapore's $19b fund for research, innovation committed to date

SINGAPORE – About $9.8 billion of the $19 billion sum earmarked for the Research, Innovation and Enterprise 2020 (RIE2020) plan has been committed as at the end of financial year 2018, with the five-year plan on track to meet its industry project target and having already exceeded its targeted number of start-ups. The remaining funds should be sufficient to see […]

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EU should revise fiscal rules to free up spending on climate: advisers

BRUSSELS (Reuters) – The European Union should revise its fiscal rules to allow governments to spend more on policies to fight climate change and infrastructure, an independent advisory body said on Tuesday. With the euro zone’s economy slowing, the rationale of fiscal rules that were hastily tightened after the EU debt crisis of 2010-12 is now widely questioned. In its […]

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Budget agency predicts trillion-dollar deficits for years to come, as red ink explodes

Fox News Flash top headlines for August 21 Fox News Flash top headlines for August 21 are here. Check out what’s clicking on Foxnews.com The Congressional Budget Office (CBO) released a grim update Wednesday to its economic outlook for the next decade, predicting average national deficits of $1.2 trillion every year through 2029, due in large part to recent budget and border […]

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Connecticut budget mistake? Tax hikes and lost business

United Technologies CEO on Raytheon merger: This will be a powerhouse of a company United Technologies CEO Greg Hayes and Raytheon CEO Tom Kennedy on the long-term impact of the merger deal. United Technologies is the latest company to announce its departure from Connecticut, after a tax rate increase appears to have contributed to the state’s multi-year corporate exodus. Continue […]

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UPDATE 1-Ethiopia forecasts 9% growth, plans higher spending in 2019/2020

(Adds details, background) ADDIS ABABA, June 11 (Reuters) – Ethiopia’s economy is projected to grow by 9% in 2019/2020, finance minister Ahmed Shide told lawmakers on Tuesday as he presented plans to raise spending. Ahmed proposed 386.9 billion birr ($13.48 billion) in government spending for 2019/2020, which if approved will be 12% higher than 2018/19’s 346.9 billion birr figure. Lawmakers […]

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Treasury signs off on budget fantasy forecasts

While we were preparing for the Easter-Anzac super long weekend, the secretary to the Treasury and the secretary of the Finance Department released the PEFO – pre-election economic and fiscal outlook – their official, once-every-three-years licence to tell us anything the government hasn’t told us but should have. And what was that? Not a sausage. They made trivial updates to […]

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Federal Budget 2019: Western Sydney Airport rail line, North South Rail Link included in NSW $7.3b infrastructure boost

More than 3.6 million NSW residents will receive immediate tax relief and the state's infrastructure boom will be further boosted with $7.3 billion for new rail and road projects. Funding to health and hospitals in NSW will also increase, while GST payments, which the state government has repeatedly said leaves NSW "short-changed" will also rise this financial year. A new […]

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Federal Budget 2019: Billions to woo Victorian commuters

Treasurer Josh Frydenberg has unleashed billions of dollars of spending on Victorian roads and railways, aimed squarely at commuters in Melbourne's sprawling outer suburbs and the state's growing regions. New spending of $6.2 billion for roads and rail in Victoria, which has emerged as a key battleground in the coming federal election, was unveiled in Tuesday night's budget. 2019 Federal […]

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