Bulgarian president proposes referendum on euro adoption
Rumen Radev, Bulgaria's president, indicated on Friday that he will propose to parliament a countrywide referendum on euro adoption in 2026.
In a public address, Radev stated that Bulgaria, as a full member of the European Union since 2007, is facing a key strategic decision regarding the adoption of the single European currency. He underlined that other EU countries had held referendums on joining the Eurozone, according to Xinhua.
Under the Bulgarian constitution, the president can set a date for a referendum only after the National Assembly approves the proposal.
Finance Minister Temenuzhka Petkova recently stated that Bulgaria has completed all of the requirements for Eurozone membership and is awaiting assessments from the European Commission and the European Central Bank. She expressed hope for a positive outcome, Xinhua reported.
Mark Zuckerberg overtakes Jeff Bezos as world’s second-richest person
Meta CEO Mark Zuckerberg has overtaken Amazon founder Jeff Bezos to become the world’s second-richest person, according to The Times of India. A recent surge in Meta’s stock, driven by investor optimism around AI and tech innovation, significantly boosted Zuckerberg’s net worth.
Bezos, now ranked third, has long been a major contender among the world's elite. The move highlights the unpredictable nature of tech-driven wealth, in which fortunes fluctuate in response to market trends and corporate performance.
Zuckerberg’s rise reflects Meta’s renewed momentum, while Bezos continues to lead through Amazon and his broader business interests. The latest reshuffle marks another chapter in the ongoing rivalry among tech’s wealthiest figures, The Times of India reported.
Fed holds interest rates steady amid tariff concerns
The US Federal Reserve left its benchmark interest rate constant at 4.25%-4.50%, citing inflation and employment risks associated with President Trump's recent tariffs.
The Fed observed a rise in imports ahead of the tariffs, but concluded it had no major impact on overall GDP. Tariffs imposed on China and other countries have caused market volatility, but execution will be delayed until July to allow for trade discussions, Reuters reported.
Despite low unemployment and stable inflation, early indicators suggest a possible economic slowdown. The Federal Reserve reaffirmed its independent role in regulating inflation and employment.
Despite Trump's tariff war, China's exports to US rose 4.5% in March
China’s exports jumped 12.4 per cent in March from a year earlier as companies rushed to beat increases in US tariffs imposed by US President Donald Trump.
The customs administration said that imports declined 4.3 percent, according to ABC News.
It claimed exports from the world's second largest economy increased by 5.8 percent in the first three months of the year compared to the previous year, while imports sank 7 per cent.
China's trade surplus with the United States was $27.6 billion in March, as exports increased by 4.5 percent. It has a $76.6 billion trade surplus with the United States in the first quarter of this year.
China is facing 145 per cent tariffs on most exports to the United States as of the most recent revisions in Trump’s trade policies, ABC reported.
However, the biggest increases in exports were to China’s Southeast Asian neighbors, which saw exports from China jump nearly 17 per cent in March from a year earlier. Exports to Africa increased by more than 11 percent.
