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TRANSCRIPT
Welcome to SBS News in Easy English.
The federal budget will produce $64 billion in savings, which the Treasurer says reflects a higher level of global economic uncertainty.
Around $34 billion of these savings will come from reform of the NDIS, while other savings will come from private health insurance and reducing external labour and non-wage spending.
Treasurer Jim Chalmers says the key focus areas will be around fuel security, cost of living and housing pressures, productivity and tax reform.
He has also flagged reform to modernise the superannuation performance test - which annually assesses performance for superannuation products - but insists the model will not be replaced.
Mr Chalmers says he wants the test to reconsider its tendency to discourage investment in housing, energy, venture capital and start-ups.
"What we heard from the sector, what we have heard from investors in the economy more broadly, is that the test as it's currently written unintentionally deters and discourages investment in those areas. We have absolutely no intention of directing superannuation investment, we have absolutely no intention of messing with the superannuation fund's primary responsibility to members to get the best return that they can."
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Iran's Ambassador to the UN has rejected the United States' 14-point peace proposal as the US and Iran exchanged renewed strikes.
The US military says it carried out retaliatory strikes on Iran on Thursday, targeting sites it said were responsible for attacking US forces in what it called unprovoked hostilities by Tehran.
Earlier, Iran's top joint military command said the US had violated a ceasefire by targeting an Iranian oil tanker and another ship entering the Strait of Hormuz, and by striking civilian areas.
Iranian Ambassador to the United Nations, Amir Saeid Iravani flatly rejected the US resolution, saying the only viable solution to end the war would be a lifting of the US naval blockade on Tehran.
"As you are aware, the United States and the Kingdom of Bahrain have jointly tabled a deeply flawed, one-sided and politically motivated draft resolution on the situation around the Strait of Hormuz. They claim that their actions are intended to protect freedom of navigation in the Strait of Hormuz and made some baseless allegation against my country."
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An Israeli air strike has killed the son of Hamas' chief negotiator in US-mediated talks over the Gaza Strip's future, as leaders of the militant group held talks in Cairo aimed at safeguarding their truce with Israel.
Senior Hamas official Basim Naim says Azzam al-Hayya, son of Khalil al-Hayya, was killed on Thursday after being struck in an Israeli attack on Wednesday night.
The Israeli military did not respond to a request for comment.
At least 830 Palestinians have been killed since the ceasefire deal took effect, according to local medics, while Israel says militants have killed four of its soldiers over the same period.
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And in sport,
World number one tennis player Jannik Sinner says players have threatened to boycott the French Open if their prize money is not increased because they do not feel respected.
Fellow top-ranked player Aryna Sabalenka and defending Roland Garros champion Coco Gauff have supported the drastic step, saying earlier in the week at the Italian Open that players will likely receive less than 15 per cent of tournament revenue, well short of the 22 per cent they demanded.
The dispute between the French Open organisers and players deepened after the tournament announced a 9.5 per cent increase in prize money to $100.3 million [[61.7 million euros]].
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