Economists would almost universally agree that fiscal discipline is a good thing. No government should aspire to live beyond its means. If it does, the consequences can be severe: higher inflation, higher interest rates, low private investment and lower growth. India’s current government has justly been praised for its fiscal restraint. It’s reduced the overall fiscal deficit and reoriented spending …

Bloomberg The euro extended gains and Spanish assets held their advance as the country’s government maintained a hard line on Catalonia’s independence bid. The dollar weakened as investors awaited minutes from the last Federal Reserve meeting. “Fed minutes could show a discussion on inflation, which the market is likely to take as dovish,” said Mark McCormick, North American head of …

Reuters Insurance stocks helped to drag down Saudi Arabia’s market on Wednesday because of fears of a shakeout in the industry, while bourses in the United Arab Emirates and Qatar rose, helped by a bullish global trend in equities. The main Saudi index sank 2.2 percent to 6,890 points, closing significantly below the 200-day moving average, now at 7,042 points, …