The Federal Employment Agency (BA) doubts that the new allowance under the title “citizen’s income” can start in January next year, as planned by the federal government, according to Handelsblatt. Renaming the IT systems alone – the terms “Arbeitslosengeld II” (unemployment benefit II) and “Sozialgeld” (social benefit) will be replaced by the term “Bürgergeld” (citizen’s […]
Tag: International financial news
Russia: Central bank eases currency restrictions
Russia’s central bank said today that a small easing of currency restrictions on banks, which took effect this week, will boost the supply of cash in dollars and euros in the local market. Under current rules, banks were only allowed to sell foreign currency cash bought by individuals after April 9. But starting this week, […]
Credit Suisse questions China’s ambitions in renewing its strategy
Credit Suisse Group AG is reviewing long-term plans for its mainland China operations as part of a broader overhaul of its strategy after the lender posted billions of dollars in losses, Bloomberg reports. New chief executive Ulrich Koerner and Asia-Pacific head Edwin Low are among the top bankers who will meet in Singapore next week […]
Handelsblatt: The big central banks must not show any weakness
It is perhaps the event of the year for anyone even remotely interested in monetary policy and its consequences for capital markets and the real economy, comments Handelsblatt. Around the world, trading rooms were on high alert as Fed Chairman Jerome Powell began his speech at the central bankers’ traditional meeting in Jackson Hole on […]
Britain is not yet completely weaned off Russian diesel
Britain is not yet completely weaned off Russian fuel, according to data cited by Bloomberg that contradicts an official report earlier this week which said the UK had succeeded in zeroing in on Russian fuel purchases. The Office for National Statistics said on Wednesday that the UK imported no fuel from Russia for the first […]
China’s industrial profits fell 1.1% in the first seven months of 2022
Profits at industrial firms in China fell in the first seven months of the year as the economy continued to struggle with Covid disruptions and the ongoing downturn in the real estate sector, Bloomberg reports. Earnings in the January-July period fell by 1.1% compared to a year earlier, the National Statistics Service announced on Saturday. […]
The Chinese Tesla that threatens Elon Musk
Performance – editing: George D. Pavlopoulos After PK Saxena moved from the South Australian city of Adelaide to the small town of Booleroo Center in January, the 36-year-old secondary school teacher was faced with a daily commute of about 75 kilometers to and from his new school in rural Orroroo. So, he decided to switch […]
Zelensky: Ukraine has exported 1 million tons of agricultural products under the grain agreement
LAST UPDATE: 23.49 Ukraine has exported one million tons of agricultural products from its Black Sea ports under the terms of a grain deal agreed in Turkey, Ukrainian President Volodymyr Zelensky said on Friday, according to Reuters. In his evening speech, Zelensky stated that 44 ships have been sent to 15 states. Another 70 applications […]
US – China: Landmark agreement on controls on Chinese listed companies
Beijing and Washington on Friday took a major step toward ending a dispute that had threatened to drive Chinese listed companies such as Alibaba off the U.S. stock market, signing a pact that allows U.S. regulators to audit accounting firms in China and the Hong Kong. US regulators have been demanding access to audit documents […]
Europe – Britain: No ironing, daily shower, food in the oven – Millions of households threatened with energy poverty
Forget ironing, turn off the oven and take a shower at work – Europeans are trying to cut down on energy use, but their electricity bills are getting higher and higher. As wholesale gas and electricity prices have soared, millions of people in Europe now spend a very large proportion of their income on energy. […]
