The European Central Bank (ECB) is ready to adjust its plans if necessary, taking into account future inflation risks. This was announced by the President of the Bank Christine Lagarde at a conference in Frankfurt. “We are sure that in the medium-term inflation dynamics will not return to pre-pandemic levels, but we must manage the…
The European Union is preparing other sanctions against Russia. According to Bloomberg, Germany is the main opponent of tightening restrictions on Russia’s energy sector and the largest bank. The publication writes, citing several diplomats and documents, that Berlin is resisting Sberbank’s disconnection from SWIFT. Sberbank, which accounts for about half of Russia’s retail deposits, was…
The Russia-Ukraine war is likely to have a significant impact on the global economy and agriculture, as prices for fertilizer products have been rising worldwide, with Russia being the largest producer and supplier of fertilizer. According to US Secretary of Agriculture Tom Vilsack, the biggest challenge facing farmers is rising fertilizer prices, which in turn…
The European Union is imposing new sanctions on Russia over its attack on Ukraine. According to European Commission President Ursula von der Leyen, the package of sanctions includes the financial sector, the energy sector, the transport sector, and visa restrictions for members of the Russian elite. On 23 February 2022, the European Council decided to…
In January, air freight rates to usual destinations were 60% higher than in the same period last year. Despite the increase in tariffs, the demand for this type of transport does not decrease. The latest data from the Baltic Exchange Air Transportation Index show that tariffs from Hong Kong to North America in January were…
The World Bank is working on a new system to assess the global business environment after suspending its Doing Business rating. The news was published by the international organization at the beginning of this month. The organization’s website states that the working title of the new index will be the Business Enabling Environment (BEE) rating….
On February 1, maximum prices for several categories of food products entered into force in Hungary. There is no compensation for sellers, so they have to bear the cost of the increases in goods. At the same time, the first discount store introduced a limit on the number of products purchased. Each country is looking…
Automobile sales in Europe fell in December. The trend continues for the sixth month in a row, indicating the difficulties automakers face due to the chip supply crisis. According to the European Automobile Manufacturers’ Association, the number of passenger car registrations fell by 22% last month. New car sales fell 1.5% last year. This is…
1. BNP Paribas was formed by merging of Banque Nationale de Paris (BNP) and Paribas in 2000, though, its company identification descends from its basis in 1848 as a French financial institution. This French multinational banking organization is the most important in Europe, running in seventy-two nations throughout 5 continents. It transformed into additionally recognized…
Official European currency – The euro was first introduced 20 years ago on January 1, 2002. It was put into circulation in 12 EU countries, including Belgium. Although a long time has passed since then, 17 billion Belgian francs remain in the hands of the Belgians, which is equivalent to 426 million euros. “Every day…
