Although governments are spending billions to protect people from the energy crisis, European households are still paying more for natural gas and electricity this year than ever. In October, the average price of natural gas in the European Union and Great Britain amounted to almost €0.18 per kilowatt hour, which, according to the information of…
Portugal may end its “Golden Visa” program, which granted residency to wealthy foreigners in return for investment. Prime Minister Antonio Costa announced the news at the Web Summit held in Lisbon. According to the Prime Minister, the program launched in Portugal in 2012 has already fulfilled its purpose, and the government will review the current…
The European Central Bank tightened monetary policy again and raised interest rates to the highest level in a decade for the third consecutive meeting. The bank, which sets monetary policy for the 19 countries that use the EUR, raised the deposit rate by 75 basis points to 1.5%, which is a record rate since 2009….
The German economy will not be able to avoid recession next year. However, this does not imply that the country will fall into a deep financial crisis. The prediction was announced by the head of the largest German financial institution – Deutsche Bank, Christian Sewing, at the annual meeting of the International Monetary Fund and…
The European Bank for Reconstruction and Development (EBRD) has moved its headquarters from the London Stock Exchange to Canary Wharf, – the information was written on the official website of the EBRD. According to reports, more than half of London’s 2,800 employees have already moved into the top 13 floors of the state-of-the-art Five Bank…
The giant blue statue of the euro in the heart of Frankfurt’s financial district has a new sponsor. According to Reuters, the future of the statue was endangered when the banks responsible for its maintenance refused to finance it. The statue’s owner, the Frankfurt Cultural Committee, has identified a new sponsor, saving the 14-meter-tall object…
At the end of September, a meeting of EU energy ministers is planned. They will discuss the current energy crisis. The European Commission is pushing forward the idea of imposing the so-called windfall tax, i.e. tax on windfall profits. This idea has been criticized by experts. On September 30, an extraordinary meeting of EU ministers…
The European Central Bank (ECB) raised interest rates unprecedentedly and hinted at further increases in the future. The ECB raised the rate on deposits from 0 to 0.75%, and the refinancing rate to 1.25%, the highest level since 2011. Rates are expected to rise in October and December as well. Although the EU economy is…
Most of the branches of Credit Suisse, the leading Swiss investment bank, are at risk of collapse due to a drop in income in the first half of this year. Bloomberg reports that up to 2/3 of the bank’s branches may be closed in the worst case. According to it, the investment bank could not…
The list of crises threatening businesses is growing every day. As it turned out, among the future crises that business leaders must prepare their companies and organizations to deal with, the economic impact caused by climate change was included. Moreover, experts call on leaders to take immediate action. However, in addition to climate change, the…
