This Saturday, an emergency measure was announced by the United States Senate, called a “continuing resolution” (CR) to avoid a government shutdown for the next 45 days.

According to the announcement, the continuing resolution consists of a provisional draft of expenses and funds to help the population affected by catastrophes.

It was feared that the government shutdown would occur this October 1, with the start of the new fiscal year in the United States. However, the approval of the continuing resolution addresses multiple problems for the Biden administration, who signed the document on Saturday.

The official statement states: “Tonight, the bipartisan majorities of the House of Representatives and the Senate voted to keep the Government open, avoiding an unnecessary crisis that would have inflicted unnecessary pain on millions of working Americans.”

Biden expressed his satisfaction with the approval of this emergency measure and added that they are immersed in an unnecessary crisis, which “should not have occurred,” pointing the responsibilities towards the radical Republicans in the lower house.

It is important to clarify that the closure of the US Government, whether partial or total, occurs when “Congress fails to approve 12 bills that constitute the discretionary spending budget for the fiscal year, which begins every 1st of October, nor reach a provisional agreement.”

Among the reasons for this outcome is the fact that government agencies face a prohibition on spending or committing funds without the permission of the legislative branch, which must subsequently be endorsed by the president.

The signing of the draft bill this Saturday puts the government of the North American country safe for the next 45 days, during which internal discussions will continue to find the long-awaited stability.

M.Pino

Source: eluniversal

(Reference image source: Alejandro Barba, Unsplash)

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Nintendo announced on Tuesday a cut in its forecasts at the end of the corresponding fiscal year due to the global shortage of chips and semiconductors, which is affecting the production of video consoles.

The entertainment company’s annual net profit has been affected by a reduction in the sales forecast for its next Switch console, from the expected 19 million to 18 million.

Added to this crisis is the 21 % drop in console sales in the period between April and December 2022. This reflected in the 4 % year-on-year drop in video game sales.

Nintendo had estimated net profit for the 2022-23 fiscal year of 400 billion yen. However, with the reduction in provisions, the amount has been recalculated to 370 billion yen.

M.Pino

Source: swissinfo

(Reference image source: Alvaro Reyes, Unsplash)

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The Panama Canal plans to collect revenues of 4,215.4 million dollars in fiscal year 2022 and make a contribution of 2,497.2 million dollars to the public coffers of the Central American country, the largest in its history.

This is reflected in the Canal budget approved this week by the plenary session of the National Assembly in the third debate.

The budget anticipates that, for the first time, the Panama Canal will handle 536.6 million tons CP/SUAB (Panama Canal Universal Vessel Tonnage System) in the next fiscal year, which represents an increase of 3.9 % compared to what is projected at the close of the 2021 fiscal year, which ended this September 30.

Based on this tonnage, the Canal estimates that between October 1st, 2021 and September 30, 2022, toll revenues will total $ 3,108 million, in addition to other revenues from maritime services.

On the other hand, the budget includes necessary resources amounting to 1,408.8 million dollars for the operations of the Panama Canal and the maintenance of its equipment and infrastructure.

The president of the board of directors and minister for Canal Affairs, Aristides Royo Sánchez, and administrator Ricaurte Vásquez Morales, detailed that it is expected to deliver 2,497.2 million dollars in direct contributions to the National Treasury, the largest contribution to the country in the history of the Canal.

It also includes other payments to the Panamanian State in the amount of 238.4 million. The projected figures for fiscal year 2022 are based on the pricing strategy implemented by the Canal, the additional capacity offered by its new locks, which generate 54 % of the toll revenue, and the expectation of a robust demand for the service of transit.

K. Tovar

Source: Notiamerica

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