Briefly

EUROPE

Russia, Ukraine agree to extend grain deal

Russia and Ukraine agreed on Thursday to extend a deal on the export of grain and fertilizers from Black Sea ports for 120 days. The deal, known as the Black Sea Grain Initiative, will be extended without any change in its terms and scope, said the Russian Foreign Ministry in a statement. "The decision has just been made in Istanbul. The United Nations and Turkiye remained guarantors of the initiative," said Ukrainian Infrastructure Minister Oleksandr Kubrakov on Facebook. The Russian ministry stressed the "package" nature of the deal, including efforts to facilitate the export of Russian food and fertilizers to global markets, and demanded that obstacles in this area must be removed within the next four months.

UNITED KINGDOM

Budget unveiled amid 'global headwinds'

Britain faces "unprecedented global headwinds", Treasury chief Jeremy Hunt said on Thursday as he announced an emergency budget aimed at restoring Britain's economic credibility and patching up the nation's battered finances. Hunt unveiled tax increases and spending cuts in a bid to tame double-digit inflation and rein in a growing deficit. He said the budget will "tackle the cost-of-living crisis and rebuild our economy". Just three weeks after taking office, Prime Minister Rishi Sunak's government faces the challenge of balancing the nation's budget while helping millions of people slammed by a cost-of-living crisis as the Ukraine conflict pushes up energy prices and slows economic growth.

Agencies - Xinhua