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Kenya eyes budget deficit with new tax hikes
Kenya eyes budget deficit with new tax hikes
by  AFP

Kenya's finance minister on Thursday presented the East African nation's biggest ever budget, alongside contentious tax proposals to help plug a hole in the public finances. Finance Minister Njuguna Ndung'u presented the four-trillion-shilling ($31.1-billion) budget for 2024/25 to parliament, up from 3.75 trillion shillings it approved last June for the current fiscal year.

Russians shrug off sanctions on dollar, euro trading
Russians shrug off sanctions on dollar, euro trading
by  AFP

Russians on the streets of the capital shrugged off new US sanctions on dollar and euro trading Thursday, claiming they had no need for Western currencies in their heavily targeted economy. The move cuts the group off from Western financial architecture and forced it to suspend trading in both the dollar and euro.

UK's Labour pitches for power with 'wealth creation' pledge
UK's Labour pitches for power with 'wealth creation' pledge
by  AFP

Britain's Labour party launched a "manifesto for wealth creation" Thursday, pledging to get the economy firing again if it wins power in next month's election after 14 years in opposition. The manifesto launch came two days after the Tories promised voters more tax cuts, in a campaign where the affordability of the main parties' spending plans have come under close scrutiny.

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