Denys Schmygal is the new Prime Minister

Presidential office in Kiev President Selenski has reshaped the government. (Photo: AP) Kiev As the new Prime Minister of Ukraine, 44-year-old Denys Schmygal is to lead the country out of the crisis. The economist received 291 votes in the Kiev parliament on Wednesday. 226 were necessary for his election. 59 MPs voted against him. Schmygal, […]

Canada’s central bank cuts key interest rates significantly

Bank of Canada The central bank signaled its willingness to cut interest rates further if necessary to support the economy. (Photo: AFP) Ottawa After the key rate cut in the United States in the wake of the virus crisis, Canada’s central bank follows suit. It lowered the key monetary policy rate on Wednesday by half […]

Altmaier wants to ensure that companies have scope for liquidity

Berlin Minister of Economic Affairs Peter Altmaier has promised federal government support for companies affected by the consequences of the corona virus. “We do everything so that this virus does not affect the economy in Germany nationwide,” said the CDU politician on Tuesday evening, according to the message. “To do this, we will ensure the […]

Industry mood drops to record low due to corona virus

Peking China’s industry has contracted even more than expected as a result of the corona virus. The official purchasing manager index for manufacturing (PMI) fell in February to 35.7 points, as the Chinese statistics office announced on Saturday – and thus to a record low. Even during the 2008/2009 financial crisis, it hadn’t fallen that […]

Fed wants to support the US economy in the face of the corona virus

Jerome Powell “We will use our tools and act as it is appropriate to support the economy.” (Photo: AP) Washington Fed Fed leader Jerome Powell said the Fed will act appropriately to support the economy in the face of the coronavirus outbreak. “The fundamentals of the US economy remain strong,” Powell said on Friday. “However, […]

Italy wants to incur more debt

Finance Minister Roberto Gualtieri Italy wants to convince the EU that new debts are appropriate in the current situation. (Photo: AFP) Rome The government in Rome is still working on its two decrees, which it intends to use to limit the economic damage caused by the Corona virus. The first, with measures for people and […]

States want to protect their economy

Container ship in Hong Kong The crown colony had to struggle with economic problems before the virus because of the trade war. (Photo: Bloomberg) Berlin, Beijing, Tokyo, Rome Hong Kong Finance Minister Paul Chan announced the billion-dollar stimulus package this Wednesday: Every Hong Kong citizen who is at least 18 years old will receive 10,000 […]

What the government should do for the economy

Berlin Starting from China, the corona virus spreads to entire economies worldwide. “The spread of the corona virus will have a major impact on the German economy this year,” says DIHK foreign trade chief Volker Treier. However, it is not yet possible to predict how much the epidemic will dampen economic growth in 2020. The […]

Gloomy economic prospects are slowing down lending

ECB headquarters in Frankfurt Because of the meager growth prospects, the ECB intends to stick to its extremely low key interest rates for the time being. (Photo: AP) Frankfurt Given the gloomy economic outlook, lending to companies in the euro area remained without much momentum at the start of the year. Banks only extended 3.2 […]

Ifo barometer sags like last time in 2008

Berlin At the beginning of the year there was still optimism on the job market, but it has evaporated. Companies are more reluctant to hire than they have been for a long time. This is indicated by the crash of the Ifo employment barometer. The indicator that the Munich-based economic researchers calculate monthly exclusively for […]