Cashless payments are becoming more popular in Europe

September 18, 2018 8:51 amComments Off on Cashless payments are becoming more popular in Europe
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

8:34 amComments Off on Peter Altmaier expects growth of the German economy by 2% this year
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 ›

Mario Draghi: The risks remain balanced, but uncertainty is growing

September 17, 2018 8:21 pmComments Off on Mario Draghi: The risks remain balanced, but uncertainty is growing
Mario Draghi: The risks remain balanced, but uncertainty is growing

The risks to the economic development of the Eurozone remain balanced and growth continues to support confidence in achieving target inflation. This was stated by the Governor of the European Central Bank Mario Draghi after the decision of the Eurozone monetary regulator was announced. However, he warned of growing uncertainty about protectionism, the vulnerability of emerging markets and the volatility of financial markets. “The Governing Council is ready to use […]

Read more ›

China reported better-than-expected figures on industrial production and retail sales

8:14 pmComments Off on China reported better-than-expected figures on industrial production and retail sales
China reported better-than-expected figures on industrial production and retail sales

China reported better-than-expected figures for industrial production and retail, although a key investment figure reached a new record low. It sheds light on the challenges faced by the Beijing authorities in their attempts to support the economy by fighting US duties. The new data confirm the consensus conclusions that the world’s second-largest economy is cooling down but is not yet under threat. The industrial production grew by 6.1% in August […]

Read more ›

Russian Central Bank unexpectedly raised interest rates

8:00 pmComments Off on Russian Central Bank unexpectedly raised interest rates
Russian Central Bank unexpectedly raised interest rates

The Russian Central Bank unexpectedly raised interest rates for the first time since 2014, following central bank policy in emerging markets, as inflationary risk is rising in conditions of devaluation and threat of the US sanctions. The key interest rate in the country was increased from 7.25% to 7.50%. The central bank even said they would “consider the need for further increases”. Given what is happening in the markets, the […]

Read more ›