Dec 17, 2016

Japan mulls raising tax grants to local governments

The government is considering raising the amount of tax grants to local governments for the first time in seven years in fiscal 2017 starting next April, informed sources said. The central government plans to boost the amount of grants by nearly ¥300 billion from ...

Dec 6, 2016

Pentagon buried study that found $125 billion in wasteful spending: report

A Defense Department study that proposed cutting $125 billion in administrative waste from the Pentagon budget was buried amid concerns the findings would give Congress an excuse to further slash defense spending, The Washington Post reported Monday. The report, issued in January 2015, identified ...

China names new finance minister to replace veteran Lou Jiwei

Nov 7, 2016

China names new finance minister to replace veteran Lou Jiwei

China has replaced veteran reformer Lou Jiwei with a new finance minister who will be tasked with juggling fiscal stimulus and efforts to rein in excess leverage in the world’s second-largest economy. Xiao Jie, previously a senior aide to Premier Li Keqiang, will replace ...

U.S., Israel to sign record military aid deal

Sep 14, 2016

U.S., Israel to sign record military aid deal

The United States and Israel have agreed on a record $38 billion package of U.S. military aid and will sign the pact on Wednesday, enshrining defense funding for Washington’s closest Middle East ally for the next decade, officials said. The deal will represent the ...

Aug 20, 2016

U.S. Army fudged accounts by trillions of dollars, auditor finds

The United States Army’s finances are so jumbled it had to make trillions of dollars of improper accounting adjustments to create an illusion that its books are balanced. The Defense Department’s inspector general, in a June report, said the army made $2.8 trillion in ...