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US budget deficit drops by half in 2022 on pandemic recovery
US budget deficit drops by half in 2022 on pandemic recovery
by  AFP

The US budget deficit fell by half in the past year to $1.4 trillion on the back of a pandemic recovery and as relief spending eased, the government said Friday. The drop in the budget deficit marks the "largest one-year decrease," said the Treasury Department and White House budget office on Friday.

India's Reliance reports mixed results as taxes hurt oil business
India's Reliance reports mixed results as taxes hurt oil business
by  AFP

Indian conglomerate Reliance Industries reported mixed quarterly results on Friday, with weakness in its core oil-refining business hurting profits even as its retail and telecom arms posted strong earnings. Reliance's multi-billion-dollar fortune has been powered by oil and petrochemicals businesses, but the company has diversified into new areas including telecom and retail in recent years.

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