AI boom will be no free pass for debt-laden major economies
A government watchdog announced a sweeping reform plan aimed at improving transparency in public procurement, with new reporting requirements and independent audits to reduce conflicts of interest. Officials said the measures would apply to all levels of government and be phased in over the next 12 months.
In other news, a major earthquake struck a coastal region, triggering widespread power outages and emergency evacuations. Rescue teams reported rescuing dozens of people from collapsed buildings as aftershocks continued to ripple through the area.
Economists warned of potential volatility as markets reacted to the policy changes and ongoing geopolitical tensions, but some analysts predicted a gradual stabilization as the reforms took effect and investor confidence returned.