Minister

Saudi stocks dive after finance minister vows ‘painful’ measures | Money

An investor walks past a screen displaying stock information at the Saudi Stock Exchange in Riyadh June 29, 2016. — Reuters pic
An investor walks past a screen displaying stock information at the Saudi Stock Exchange in Riyadh June 29, 2016. — Reuters pic

DUBAI, May 3 — Saudi shares slumped 6.8 per cent as trading opened today, a day after the finance minister announced “painful” measures to tackle the economic impacts of the coronavirus pandemic.

Almost all the listed stocks on the Arab world’s largest bourse were in the red just minutes after the start of trading.

Finance Minister Mohammed al-Jadaan said late yesterday that the kingdom would take “drastic measures” to face the double shock of the novel coronavirus and low oil prices.

“Some of these measures could be painful,” he said in an interview with Saudi-owned news channel Al-Arabiya.

He said the world’s leading crude exporter would borrow close to US$60 billion (RM257.8 billion) this year to plug a huge budget deficit.

Saudi Jadwa Investment, an independent think-tank, forecast

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Finance minister says Putrajaya will adjust spending if oil prices fall further | Malaysia

Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said the federal government has incorporated lower global oil price into its expected deficit this year. — Picture by Firdaus Latif
Finance Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz said the federal government has incorporated lower global oil price into its expected deficit this year. — Picture by Firdaus Latif

KUALA LUMPUR, April 21 — The federal government has incorporated lower global oil price into its expected deficit this year but will “reprioritise” its planned spending if the commodity declines further in value, said Datuk Seri Tengku Zafrul Tengku Abdul Aziz.

Oil price fell sharply on the international market after Saudi Arabia and Russia triggered a price war that came just ahead of the world-stopping coronavirus disease (Covid-19) pandemic.

The finance minister acknowledged the matter in his statement today, but sought to assure Malaysians that the government was prepared to adapt.

“The general preoccupation with oil is understandable, given that it is closely linked to global geopolitical influences. However, what is more important is to recognise how Malaysia has a

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Blockchain would be part of our state’s priority; French Minister of Finance Bruno Le Maire

In view of the Blockchain Week Summit scheduled for 16 – 17 of April, the Capital magazine aspect on “economic and business” had an interview with Bruno Le Maire a day before, 15th April. In the remarks of France’s Minister of Economy and Finance, he communicated that the government of France would make blockchain a priority.

To demonstrate the commitment of the French government to prioritize blockchain, a sum of four million and five hundred thousand euros (EUR 4.5m) have been set aside for all advance inventions with blockchain inclusive. The money is an equivalent of five million US dollars ($5 m). France aims to perform this to disrupt American and Chinese supremacy on technology.

Brune Maire also made remarks which underscored PACTE Act responsible for the regulatory process of blockchain. PACTE Act was just currently approved by the states’ National Assembly.

The interview with France’s Minister of Economy and

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UK finance minister Sunak, 39, next in line to lead country after Raab

FILE PHOTO: Britain’s Chancellor of the Exchequer Rishi Sunak poses with the red budget box outside his office in Downing Street in London, Britain March 11, 2020. REUTERS/Henry Nicholls/File Photo

LONDON (Reuters) – British finance minister Rishi Sunak would take responsibility for leading the country if Dominic Raab, currently standing in for hospitalised Prime Minister Boris Johnson, were also incapacitated.

Johnson spent a night in intensive care receiving oxygen treatment following his admission to hospital with a persistent high temperature and cough, more than a week after testing positive for the novel coronavirus.

Foreign minister Raab has taken over some of the British leader’s responsibilities, including chairing the government’s daily meeting on the coronavirus crisis, although the 55-year Johnson remains prime minister.

“There is an established order of precedence,” Johnson’s spokesman said. “In line with the order of precedence, the Chancellor (Sunak) would follow from the Foreign Secretary.”

Sunak was

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German State Finance Minister Commits Suicide After Expressing Concern About Economic Effects of Wuhan Coronavirus

A German state finance minister reportedly killed himself after he expressed “despair” over how to handle the economic fallout of coronavirus. 

The body of Thomas Schaefer, the finance minister of the country’s Hesse region, was found on train tracks near Frankfurt. 

Authorities interviewed witnesses about “their own observations” from the scene and concluded it was a suicide.  

According to state governor Volker Bouffier, Schaefer was concerned over “whether it would be possible to succeed in fulfilling the population’s huge expectations, particularly of financial help.”

“I have to assume that these worries overwhelmed him,” Bouffier said, reports AP. “He apparently couldn’t find a way out. He was in despair and left us.”

President Trump warned last week about the effects of a long economic shut down, including high suicide rates. 

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Germany’s Finance Minister Commits Suicide Over CoronavirusNaijaGists.com

Thomas Schaefer commits suicide

Germany’s Finance Minister Commits Suicide Over Coronavirus

The finance minister of Germany’s Hesse state, Thomas Schaefer, has committed suicide apparently after becoming “deeply worried” over how to cope with the economic fallout from the coronavirus, state premier Volker Bouffier said Sunday.

54-year-old Schaefer was found dead near a railway track on Saturday. The Wiesbaden prosecution’s office said they believe he died by suicide.

“We are in shock, we are in disbelief and above all we are immensely sad,” Bouffier said in a recorded statement.

Hesse is home to Germany’s financial capital Frankfurt, where major lenders like Deutsche Bank and Commerzbank have their headquarters. The European Central Bank is also located in Frankfurt.

A visibly shaken Bouffier recalled that Schaefer, who was Hesse’s finance chief for 10 years, had been working “day and night” to help companies and workers deal with the

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