Reliance Industries reduced Russian oil imports in April, while Saudi Arabia advances digital sovereignty with data center investments. Japan's government plans a 3 trillion yen supplementary budget, raising fiscal concerns.
Japanese PM Fumio Kishida announced a supplementary budget of over ¥3 trillion to address rising prices due to the Middle East situation. The plan includes a ¥500 billion subsidy for electricity and gas bills, aiming to keep rates below last summer's levels. Additional funds will support LPG users and gasoline subsidies, with issuance of deficit-covering bonds to fund the measures.
Reliance Industries reduced Russian oil imports in April, while German companies urged their government to push China for fair competition. Japan's government announced an extra budget of 3 trillion yen, raising concerns about its already strained finances.
Japan plans a new extra budget funded by debt to offset economic impacts from the Middle East war, potentially raising interest rates and straining finances. Long-term bond yields have hit record highs.
