India now has the fourth-largest defence budget, according to the 2016 Jane’s Defence Budgets Report, released by research firm IHS Markit on Dec. 12. While Russia was at the fourth place last year, in 2016, it slipped to the sixth spot. The US, China, and the UK remain the top three. Source: Quartz
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Black-clad activists protesting U.S. President-elect Donald Trump’s inauguration smashed store and car windows in Washington on Friday and fought with police in riot gear who responded with pepper spray and stun grenades. Source reuters
France’s finance minister has cautioned incoming U.S. President Donald Trump against taking unilateral steps to deregulate the U.S. financial industry, stressing the need for international coordination. Source Reuters
U.S. oil producers, optimistic that higher crude prices are here to stay, have issued 2017 budgets that call for dramatically greater spending to tap new wells. Source: WSJ