Articles by: Silvia Hristovamm

Germany’s consumer confidence expectations deteriorate next month

August 30, 2018 9:57 amComments Off on Germany’s consumer confidence expectations deteriorate next month
Germany’s consumer confidence expectations deteriorate next month

Germany’s consumer confidence might fall next month amid worries about the outlook for the economy, according to a study by the Nuremberg research firm GfK. GfK said its preliminary consumer confidence index was down to 10.5 points in September from 10.6 in August. “People see they get low interest rates on their financial assets, and at the same time they have to cope with 2% inflation”, said Rolf Burkl from […]

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Business climate in Germany improved in August

August 28, 2018 7:44 amComments Off on Business climate in Germany improved in August
Business climate in Germany improved in August

Business climate in Germany improved in August more than initially expected, shows the Ifo Institute’s data. The business climate index in the largest economy in Europe rose by 2.1 percentage points in August to 103.8, thus exceeding the consensus forecast of the market for growth to 101.9 points The sub-index measuring future business expectations grew by 3 points to 101.2 points. Regarding the current business conditions, there is also an […]

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French budget deficit in the public sector is likely to be higher than expected

August 27, 2018 10:24 amComments Off on French budget deficit in the public sector is likely to be higher than expected
French budget deficit in the public sector is likely to be higher than expected

The French budget deficit in the public sector is likely to be worse than expected this year at about 2.6% of economic output. This was stated by French finance minister Bruno Le Maire. In his words, the slower than expected growth will increase the deficit to 2.5% instead of the expected 2.3%. The government’s decision to take over the public rail company SNCF will add further pressure on the deficit, […]

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Government Pension Fund of Norway meets resistance on the plans to drop its oil and gas assets

August 26, 2018 7:10 amComments Off on Government Pension Fund of Norway meets resistance on the plans to drop its oil and gas assets
Government Pension Fund of Norway meets resistance on the plans to drop its oil and gas assets

The Government Pension Fund of Norway, worth 1 trillion USD, meets resistance on the plans to drop its 40 billion USD oil and gas assets. A commission appointed by the government published its recommendation against such sale. According to it, such a measure would have little effect on protecting Norway from the cheaper prices of “black gold”, and will also change the successful investment philosophy of the fund. “This investment […]

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Angela Merkel gives new impetus to the Southern Gas Corridor project

August 24, 2018 8:49 amComments Off on Angela Merkel gives new impetus to the Southern Gas Corridor project
Angela Merkel gives new impetus to the Southern Gas Corridor project

The German Chancellor Angela Merkel will visit Azerbaijan this week, with the main purpose to increase supplies of Caspian gas to Europe. According to a top German official, Berlin is “very interested” in the development of the so-called Southern Gas Corridor connecting Azerbaijan with Europe through Turkey. Its development is an important part of European efforts to diversify gas supplies to the continent and secure alternative imports from Russia. The […]

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