House prices in London reported their biggest decline in July in nearly a decade, according to the data from the National Statistics Service. The house prices fell by 0.7% yoy, which is the biggest decline since September 2009. The average property price in the British capital in July is 485,000 GBP. This sliced off around 2,500 GBP per home. A separate one-off ONS analysis of the London property market concluded […]
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Brexit deal is still a long way off
European Commission President Jean-Claude Juncker said that the Brexit agreement with the UK is still far away. The officials from...
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The EU presented its ideas for reforming the World Trade Organization
The European Commission publishes its ideas for a reform of the World Trade Organization (WTO) to overcome market distortions such...
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Rapid population growth in Africa could jeopardize progress towards reducing poverty
Rapid population growth in some of the Africa’s poorest countries could jeopardize progress towards reducing world poverty and...
Other Economics News
China will not start competitive devaluation of its currency to stimulate exports
China will not start competitive devaluation of its currency to stimulate exports. This was stated by Chinese Prime Minister Li Keqiang after another episode of the escalating trade war between Beijing and Washington. Speaking at an event at the World Economic Forum, he did not comment on the growing tensions, but pointed out that the deliberate devaluation of the yuan was “groundless”. “One-day devaluation of the yuan brings more damage […]
Read more ›Lagarde: The world has to spend more to meet its development targets
The world needs to increase its spending if wants to meet its ambitious goals of poverty reduction and environmental protection adopted by the UN. This was stated by the director of the International Monetary Fund (IMF) Christine Lagarde in a speech in London. “For the low-income countries in particular, meeting the additional spending needs will require a strong partnership between all stakeholders – countries themselves, but also official donors, philanthropy, […]
Read more ›Bundesbank expects expanding of the German economic activity
Despite the unexpectedly weak start of the year, the German central bank (Bundesbank) expects the country’s economy to accelerate in the second half of the year. “The upturn in Germany will remain unaffected last but not least due to the continuing positive internal situation”, says the institution’s monthly report. In July, sinking industrial orders, declining output and declining exports raised doubts about that. “The German economy started weak during the […]
Read more ›Cashless payments are becoming more popular in Europe
Cashless payments are becoming more popular in Europe. Last year, the total number of payments by electronic means (card, money transfer from one account to another, checks and etc) made in the European Union (EU) grew by almost 8% and reached 134 billion EUR, according to data from the European Central Bank (ECB). The Europeans used cards transactions more than ever. The card payments jumped by 11% last year and […]
Read more ›Peter Altmaier expects growth of the German economy by 2% this year
German Economy Minister Peter Altmaier expects the German economy to grow by about 2% this year, predicting a difference of 0.1 percentage point. “We could also have a 3% growth”, said Peter Altmaier, but added that companies are not investing enough to achieve higher growth because they lack a sufficient workforce to increase production. Earlier this month, the Ifo economic institute increased its growth forecast for German gross domestic product […]
Read more ›Other News
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House prices in London declined sharply in July
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Brexit deal is still a long way off
-
The EU presented its ideas for reforming the World Trade Organization
-
Rapid population growth in Africa could jeopardize progress towards reducing poverty
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China will not start competitive devaluation of its currency to stimulate exports
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Lagarde: The world has to spend more to meet its development targets
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Bundesbank expects expanding of the German economic activity
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Cashless payments are becoming more popular in Europe