Oil Prices Drop Amid Mounting Concerns Over Fuel Demand - Jordan News
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Romanian Deputy PM resigns amid resurfaced corruption scandal
ALBAWABA- Romania's Deputy Prime Minister, Dragoș Anastasiu, announced his resignation on Sunday following the resurfacing of an old corruption scandal in which he was involved as a witness. According to Reuters, His departure comes as the country's fragile, one-month-old coalition government pushes ahead with controversial cost-cutting reforms aimed at reducing the EU's largest budget deficit. Anastasiu, who had been appointed by Prime Minister Ilie Bolojan to lead reforms of Romania's inefficient state-owned enterprises, stepped down after media reports revisited a corruption case involving his company and the national tax authority. According to the revived case, one of Anastasiu's firms was blackmailed by a tax inspector into paying bribes disguised as consultancy fees from 2009 to 2017 in order to avoid burdensome audits. The company eventually reported the inspector, who was convicted in 2023. Neither Anastasiu nor his business partner were charged with any wrongdoing. In a public statement, Anastasiu defended his company's conduct, saying it had paid all required taxes and that the payments were made 'for survival, not profit.' He urged fellow business owners to come forward with similar experiences. Also Read Cambodia–Thailand border clashes persist despite ceasefire talks 'I encourage every entrepreneur to speak out about the conditions under which business has been conducted in Romania. We must no longer tolerate what we once did, even when mistakes were made,' he said. The resignation adds pressure on the government as it prepares to raise several taxes in August, cut public sector bonuses, and lay off staff, measures that have already triggered street protests. Although Romania narrowly avoided a downgrade from the lowest investment-grade credit rating, market volatility continues to pose risks.
Jordan News
7 hours ago
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National Exports Grow by 9.2% in First Five Months of 2025 - Jordan News
National Exports Grow by 9.2% in First Five Months of 2025 Jordan's national exports rose by 9.2% during the first five months of 2025, while re-exports increased by 2.3%, compared to the same period in 2024, according to the monthly foreign trade report released by the Department of Statistics. اضافة اعلان The report indicated that total exports rose by 8.5% during the same period. This growth occurred alongside an 8.6% increase in imports, resulting in an 8.6% rise in the trade deficit during the first five months of 2025 compared to the same period in 2024. The total export value during this period reached 3.938 billion Jordanian dinars, with 3.578 billion dinars from national exports and 360 million dinars from re-exports. Meanwhile, imports totaled 8.135 billion dinars. As a result, the trade deficit (the difference between total exports and imports) reached 4.197 billion dinars in the first five months of 2025, up from 3.865 billion dinars during the same period in 2024. In May 2025 alone, total exports amounted to 901 million dinars, including 826 million dinars in national exports and 75 million dinars in re-exports. Imports for the same month stood at 1.581 billion dinars, resulting in a trade deficit of 680 million dinars for May. Compared to May 2024, total exports increased by 2.4%, with national exports rising 4.8%. However, re-exports fell by 18.5%, and imports decreased by 5.6%, leading to a 14.5% reduction in the trade deficit for the month. Export Coverage Ratio The export-to-import coverage ratio stood at 48% for the first five months of 2025—the same as in the same period in 2024. For May alone, the coverage ratio rose to 57%, up from 53% in May 2024—an improvement of 4 percentage points. Sectors Driving Export Growth The increase in national exports was primarily driven by sectors such as: Apparel and related accessories Nitrogen or chemical fertilizers Pharmaceutical preparations Raw potash These gains helped offset declines in: Precious jewelry Raw phosphate On the imports side, increases were recorded in: Precious jewelry Machinery and mechanical tools Electrical equipment Grains However, decreases in crude oil and derivatives and vehicles and motorcycles helped curb the overall rise in imports. Key Trade Partners Jordan's national exports rose to several key regions and countries, including: Greater Arab Free Trade Area countries (notably Saudi Arabia) North American Free Trade Agreement (NAFTA) countries, including the United States Non-Arab Asian countries, such as India European Union countries, including Italy Imports also increased from the same regions and partners, particularly: Saudi Arabia The United States China Italy This data reflects broader trends in Jordan's trade landscape and underscores the country's growing engagement with key global and regional markets.
Jordan News
a day ago
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Russia: Natural Gas Production Expected to Rise by 4.8% in 2025 - Jordan News
The Russian government announced on Friday that it expects natural gas production to increase by 4.8% this year, reaching approximately 668.2 billion cubic meters, as part of its baseline economic growth scenario. اضافة اعلان Despite ongoing Western sanctions and shifting export destinations, Moscow forecasts continued growth, projecting: 688.2 billion cubic meters by the end of 2025 729 billion cubic meters by 2027 The government highlighted a strategic pivot toward liquefied natural gas (LNG) exports to Asia, as Russia reduces its dependency on European markets, signaling a significant transformation in the country's energy export map.
