Concerns about China’s economy are causing oil prices to collapse

Oil production Brent is the most important oil for Europe. The WTI variety comes from the USA. (Photo: dpa) Frankfurt Oil prices fell sharply on Friday due to economic concerns. The price of a barrel (159 liters) of the North Sea type Brent fell in the morning by up to six percent to below $ […]

Turkish central bank cuts key interest rate and wants to support the economy

Turkish lira The key interest rate in Turkey was 24 percent less than a year ago. (Photo: Reuters) Istanbul The Turkish central bank is helping the economy suffering from the coronavirus pandemic with a rate cut. The key rate will be lowered by 50 basis points to 8.25 percent, the central bank said on Thursday. […]

Economic miracle in Europe: Eastern trade grew despite the crisis

Berlin Without the east of Europe, the situation in Germany would be even worse economically than it already is because of the corona crisis. Because while the German gross domestic product (GDP) in the first quarter with a minus of 2.2 percent has fallen more sharply than ever since the international financial crisis in 2008 […]

Japan’s exports have seen the sharpest decline since 2009

Container terminal in Tokyo Japan’s economy has slipped into recession again. (Photo: dpa) Tokyo Japan’s exports recorded the sharpest decline since the global financial crisis in 2009 as a result of the corona virus pandemic in April. Data from the Ministry of Finance (MOF) showed a 21.9 percent year-on-year slump in foreign trade on Thursday. […]

Why Argentina is at risk of default

Argentine President Alberto Fernandez The President has little leeway to avoid another default. (Photo: dpa) The investors are used to this from Argentina: Negotiations on debt rescheduling are carried out until the very last moment. But then the government announces at the last moment that it will not pay. This has happened twice since 2001 […]

Corona crisis is causing worst recession in decades

Jerome Powell The head of the US Federal Reserve has said that the Fed will continue its emergency measures and leave the key interest rate close to zero. (Photo: AP) Washington The coronavirus pandemic has plunged the US economy into the worst recession since World War II, according to central bank chief Jerome Powell. There […]

This is how Germany can take off after the pandemic

Holger Schmieding The chief economist of Berenberg Bank warns in his column against repeating the mistakes of the 1990s. (Photo: dpa) Hamburg With luck and reason, Germany has so far come through the pandemic better than many other countries. But the damage will also be enormous for us. Even if the upswing then begins as […]

Gold price rises to its highest level in seven years

gold bar The gold price rose at the beginning of the new week and reached a new high. (Photo: dpa) Frankfurt The gold price has climbed to its highest level in seven years at the start of the week, according to economic warnings from the US Federal Reserve. On Monday morning, the troy ounce of […]

Japan’s economy is plunging deeper into recession

Scoreboard in Tokyo Japan’s economy is slipping into recession as a result of the corona crisis. (Photo: dpa) Tokyo At first glance, Japan’s economy was hit relatively lightly by the corona crisis in the first quarter of the year. The gross domestic product was 0.9 percent lower than in the previous quarter because both consumption, […]

The recovery in the US economy could take until late 2021

Jerome Powell Assuming that there is no second wave of the corona virus, he expects a steady recovery in the second half of this year. (Photo: AP) Washington A full recovery in the US economy could take until late next year, according to Fed Reserve chief Jerome Powell. “The economy will recover,” Powell told CBS […]