The eyes of the international business world are currently fixed on Vienna. At the OPEC headquarters in downtown Vienna, the oil cartel’s member states and its allies are currently haggling over production volumes, and thus the further development of oil prices, via video conference.
THIS AUTHOR'S POSTS
Turkey: Erdogan combats crisis with new economic programme after change of staff
After unexpected replacements of the head of the central bank and the finance minister, Turkish President Recep Tayyip Erdogan recently declared war on the inflation and currency depreciation in his country with a new economic programme. In doing so, Erdogan is radically turning away from his previous economic policy line by relying on foreign investment and monetary stability.
Global economic slump less severe than expected, but still the worst recession in decades, according to IMF
According to current forecasts by the International Monetary Fund (IMF), the global economy should be able to handle the consequences of the corona pandemic somewhat better than has been feared. In its eagerly awaited global economic outlook for this year, the IMF now expects global economic output to decline by only 4.4 per cent. The IMF has thus adjusted its last forecast from June by 0.5 percentage points.
US election campaign entering hot phase: decision in the midst of the crisis
In the midst of the corona crisis, following the first TV debate and US president Donald Trump’s infection with the corona virus, the race for the US presidential office enters its critical phase. In nationwide opinion polls, Democratic candidate Joe Biden is currently ahead of Republican incumbent Trump.
New Prime Minister Suga wants to lead Japan out of the crisis with an old team and reforms
Japan officially entered a new era on Wednesday: As was expected, Japan’s new head of government Yoshihide Suga was elected Prime Minister by the majority of his Liberal Democratic Party (LDP), succeeding Shinzo Abe.
Trump declares war on Chinese companies behind TikTok and WeChat
US President Donald Trump has escalated his fight against the Chinese-owned social media services TikTok and WeChat, and in the process also caused new tensions in the trade dispute with China.
Race for Corona vaccine: 25 vaccine candidates in clinical trials
The pharmaceutical companies and universities racing to develop a corona vaccine are making strides: according to the World Health Organisation (WHO), 25 candidates are currently undergoing clinical trials.
Corona crisis continues to weigh heavily on the aviation industry
Despite the recent border openings, the corona pandemic continues to impact the aviation industry.
Travel industry hoping for rapid recovery after border opening
With the opening of many European countries’ borders, the travel industry, which has been severely affected by the response measures to the coronavirus pandemic, is also hoping for a revival of travel and tourism, which has virtually come to a standstill.
German government approves EUR 130bn stimulus package to “emerge from the crisis with a bang”
Germany’s government wants to cushion the consequences of the Corona crisis with a massive economic stimulus package. This show of strength is intended to revive the economy and consumption of citizens and avert a severe recession.