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Increasing demand worldwide Oil price close to $ 100?

Status: 23.06.2021 3:10 p.m.

Oil is more expensive than it has been in two years. Experts warn of a supply crisis: The prices for crude oil and thus also gasoline, kerosene and heating oil could soon rise much higher.

From Angela Göpfert, tagesschau.de

Oil prices hit new multi-year highs this week. For the first time in two years, a barrel (159 liters) of the North Sea Brent cost more than $ 75 again. For a barrel of the US West Texas Intermediate (WTI) variety, more than 73 dollars were paid on the market – the highest amount since October 2018. Rising oil prices – something that businesses and consumers may need to get used to. According to some experts, the new multi-year highs in oil prices, which many consumers are already feeling painfully at gas stations or when buying heating oil, are just the beginning of a longer upward trend in the oil market.

Analysts predict rising oil prices

The experts at the US investment bank Goldman Sachs expect the Brent price to rise to $ 80 this summer. But that is not the end of the story. An oil price of $ 100 is a “real possibility”. Alex Sanna, top oil trader at Glencore, the world’s largest commodity trading group, also said, according to the Financial Times, that an oil price of $ 100 is becoming increasingly likely.

The experts at JPMorgan even see a new oil super cycle looming and recently renewed their forecast of an oil price of $ 190 in 2025.

Demand congestion as a price driver

Francisco Blanch, raw materials expert at Bank of America, may not look quite that far into the future. For this he has the most precise 100-dollar forecast ready: the oil price could crack the round mark as early as 2022. The market hardly changes on the supply side – and this in turn is offset by an immense backlog of demand. It is easy to explain where this backlog of demand comes from: Just as many private households restricted their consumption during the pandemic, so too many companies put the necessary investments aside. Now that the global vaccination campaign is gaining momentum, at least in the major industrialized countries, consumers, companies and economies have a lot to catch up on.

Delta variant is a risk factor

The more relaxed Corona situation and the awakening global economy are leading to higher demand for crude oil, gasoline, diesel – and kerosene. Oil expert Blanch sees the rising travel industry as a major price driver.

The delta variant of the virus from India, which could lead to a further tightening of the corona measures, is currently also posing a risk to the economy.

Signal of a shortage of supply

In search of signs of whether demand is actually exceeding supply at the moment, it is worth taking a look at the market for so-called oil futures. Current oil futures contracts are quoted there higher than contracts with delivery at a later point in time. Such a constellation, referred to by experts as “backwardation”, is rather unusual and a clear indication of fear of scarcity – “and thus for further rising prices”, as market expert Robert Rethfeld from Wellenreiter-Invest emphasizes.

A price corrective called fracking

The rising prices should actually make re-entry into the oil market attractive for the US shale industry. In the past, the US frackers acted as flexible price correctors on the oil market: If prices rose, more shale oil was drilled in the short term, supply increased, prices fell again.

As a reminder, the last time oil traded above $ 100 was in 2014, when a rapidly growing supply from the US fracking industry brought an abrupt end to the last oil super cycle.

Sustainability trend slows US oil industry

But this mechanism doesn’t seem to work that well anymore. This is due on the one hand to the new US President Joe Biden, who imposed a stop on oil and gas drilling on state-owned land in January, and on the other hand to the global trend towards sustainable investment.

“The number of active US oil wells is increasing only slowly,” emphasizes wave rider expert Rethfeld. “The investors do not want to see an expansion of the production capacities at the moment, but instead demand investments in renewable energies.”

Iran as a risk factor

The production countries of the OPEC + oil cartel, especially Saudi Arabia and Russia, could benefit from the West’s climate policy. It remains to be seen how willing they are to expand production to fill the void left by the US oil industry.

Especially since there are supply risks on the part of OPEC: “After the election of an ultra-conservative cleric as the new president, Iran will have a hard time overturning US sanctions and increasing oil exports,” said Eugen Weinberg, raw materials expert at Commerzbank .

Inflation Risks Before Revaluation?

Should the oil price actually rise further towards 100 dollars, this would inevitably lead to a reassessment of the inflation risks in the financial markets, since the oil price is one of the main drivers of consumer prices.

Just yesterday, Jerome Powell, head of the US Federal Reserve (Fed), told the House of Representatives budget committee again that the Fed was considering the current high inflation rates a temporary phenomenon considered. However, market expert Rethfeld emphasizes: “Any oil price above $ 100 would suggest to the public that Powell is wrong.”

Rising US prices Fed chief is dampening Inflation concerns

Status: 23.06.2021 9:39 a.m.

The head of the US Federal Reserve sees the reason for the current high inflation primarily in the recovery of the economy. The unexpectedly strong effects would soon fade, Powell said.

By Torsten Teichmann, ARD studio Washington

The demand in many industries is greater than the supply, meanwhile the prices for raw materials in the USA are rising, employers are having difficulties filling positions: All these effects of the economic upswing at the end of the corona pandemic are stronger than assumed, the head of the Federal Reserve (Fed), Jerome Powell, granted. Nevertheless, there will be no inflation, as in the 1970s, Powell said at a hearing in the US House of Representatives. “These factors will fade over time and we will get back to where we want to go. We are watching this carefully,” he said.

Interest rate hikes planned for 2023

The goal is an inflation rate of just over two percent. In May there was inflation at five percent . The Fed announced last week by the end of 2023, the key interest rate is expected to be increased in two steps to want. But in the short term it remains in the range between 0 and 0.25 percent. Powell had to defend his monetary policy at the hearing in the House of Representatives. Republican MP Steve Scalise accused a visibly annoyed Fed chief that the cheap money policy was harmful to hard-working families.

Steve Scalise criticized Fed policies as harmful to families. Image: REUTERS

Powell replied that lower income groups in particular have not yet benefited from the upswing in the United States. “Real incomes at the lower end of the spectrum are stagnating compared to those at the top,” he said. “Mobility across all income groups has decreased in the US and is now behind that in most other industrialized countries.”

Fed expects economic growth of 6.5 percent

These differences would hold back the US economy and the country as a whole. And that although the Fed is currently assuming that the US economy will grow by 6.5 percent this year with the help of the government’s trillion-dollar stimulus packages

Debate about opening times Shop on Sundays until Christmas?

Status: 19.06.2021 2:58 p.m.

Brick-and-mortar retail suffered a lot in the pandemic, while online retailing gained tremendously. DIW, Städtebund and the trade association HDE are now calling for more flexible opening times to help stimulate the economy. The union ver.di warns. The President of the German Institute for Economic Research (DIW), Marcel Fratzscher, calls for opening hours to be relaxed in view of the difficult situation of many retailers. “A liberalization of the shop opening times is urgently required so that the stationary retail trade can assert itself in the competition against the online trade and secure jobs,” said Fratzscher to the “Handelsblatt”.

Flexibility required until the end of the year

The economist stood by the side of the trade association HDE. He had suggested leaving the shops open on Sundays at least until the end of the year. This gives retailers the chance to make up at least part of the sales lost during the lockdowns and would also be a signal to people that the city centers are open again. In addition, there should be more reliable rules for a legally secure occasional Sunday opening.

The Association of Towns and Municipalities also spoke out in favor of it. “We now have to do everything we can to ensure that our inner cities and town centers do not become deserted,” said managing director Gerd Landsberg to the “Handelsblatt”. “It would be a positive signal to allow additional Sunday opening hours.” Landsberg referred to the threatening situation of the trade and the danger for hundreds of thousands of jobs.

“Small but important signal”

Over 100,000 retail stores could close or not open at all, Landsberg said. This would put almost 500,000 jobs at stake. The online trade, on the other hand, was open 24 hours a day, seven days a week, and was able to increase its sales to over 72 billion euros last year due to the pandemic. Additional Sunday opening hours would therefore be “a small but important signal that the city centers and town centers have a future”.

“Development cannot be reversed”

Fratzscher explained: “Due to the pandemic, there was a massive shift towards online trading, which will not be completely reversed even after the pandemic.” However, fair competitive conditions did not mean that people could shop online 24 hours a day, seven days a week, but stationary retail trade had a “tight corset” and had to be closed on Sundays.

“Instead of sanctions or charges for online trading, politics should make stationary retailing more attractive,” said Fratzscher. In addition to more flexible shopping times, this also includes modern urban concepts that make inner cities more attractive again. “This not only has an immediate economic value, it is also very important from a social and societal perspective that people meet and come into contact with one another.”

Ver.di sees “general attack”

The FDP already supported the HDE’s advance as a suitable economic aid for the retail sector. The trade union ver.di, on the other hand, rejected him as an overly short-sighted “general attack on the trade workers, their families, but also on the Basic Law”.

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Corona consequences for companies How much longer does the state have to help?

Status: 06/17/2021 10:18 a.m.

Today, the federal and state economics ministers are discussing how to proceed with corona aid for companies. Warnings against a permanent state economy are getting louder. But some industries are still deeply in crisis.

From Axel John, SWR

Tim Sandrock walks through the 3500 square meter hall of his event company. He points to huge loudspeakers, lighting systems or projectors that are piled up to the ceiling. “That would normally all be used outside in mid-June, at theater events, village festivals or music concerts”says Sandrock. “The camp could be swept through completely. We haven’t moved the technology for at least 15 months.”

He is one of the two managing directors of Flo-Service GmbH in Mainz. The company has 25 employees and six trainees. The company organizes up to 1500 events per year with a focus on the Rhine-Main area. “From the disco ball for the teenage party to the stage technology for a Sting concert, we cover everything”says Sandrock. Although the economy is taking off again across the country, Flo-Service still has few orders at major events due to the pandemic requirements. Most recently, among other things, the Oktoberfest was canceled. This sends a devastating signal to the industry.

Hope for further help

“We are broadly positioned and have thus been able to limit losses. The Federal Employment Agency helped us a lot through short-time work with around 31,000 euros per month. The bridging aids were also extremely important to us last year”says Sandrock. “However, our company has fixed costs of 150,000 euros every month.”

“I very much hope for further government aid” – Flo Service Managing Director Tim Sandrock. Image: Axel John, SWR

Flo-Service mainly draws on its operating reserves before Corona. In addition, there was a tough austerity course. Overall, sales have decreased by a good third. This means that Sandrock is still in a brilliant position in the industry. Other companies make a minus of 90 percent or are no longer there. “In the long run, of course, you can’t finance a company like ours. I therefore very much hope for further state aid”, he says. Cultural events have a pre-planning of three to nine months. In the uncertain Corona time, that’s half an eternity. “I am optimistic that the worst is behind us. But we still need support for a transition period. Otherwise all previous payments would be pointless”, says Sandrock.

Economics ministers discuss further aid

The federal and state economics ministers meet today in Düsseldorf – for the first time in attendance. One question is: what will happen next with the support for the economy? The bridging allowance and short-time work allowance were only recently extended to the end of September and even expanded. Now it is about a renewed extension until the end of the year.

The host of the meeting, the North Rhine-Westphalian Minister of Economic Affairs Andreas Pinkwart from the FDP, has already made a decision: “I am in favor of the aid being extended beyond the end of September until the end of the year”, he says. “Sectors such as the trade fair and event industry or the showmen will continue to suffer from a drop in sales in the fall. The Federal Ministry of Economics also sees it that way. I would also like to advocate this course at the federal government.”

NRW Minister of Economic Affairs Pinkwart is campaigning for a further extension of the corona aid. Image: dpa

North Rhine-Westphalia’s Minister of Economic Affairs also refers to legal constraints. “Unfortunately, to fight the pandemic, we had to restrict the freedom of trade. That is why the bridging aid is not subsidy, but compensation. Parts of the economy are only now gradually returning to normal”says Pinkwart. Now it is a matter of creating transitions for the companies concerned.

Share of businesses in need is falling

More and more companies seem to manage this transition. According to a study by the Institute for Employment Research (IAB), only eight percent of all companies saw their existence threatened by May. In April this value was still 13 percent. “The incidence values ​​are easing in many places, and at the same time private-sector companies in Germany are looking more optimistically into the future, “says IAB Director Bernd Fitzenberger. So far, the Federal Ministry of Economics has approved a total of more than 105 billion euros for the economy during the crisis. In addition, there is short-time work allowance of around 32.3 billion euros.

Criticism from economists

More and more economists are critical of the ongoing political assistance. Lars Feld is one of them. The 54-year-old economist is a proven regulatory politician, i.e. oriented towards the principles of market and competition. “The extension until the end of September is fine. But I do not believe in a renewed extension”, he says. “The upswing is in full swing. According to the Bundesbank, we will have growth of 3.7 percent in Germany this year. Next year it should be five percent. The need for an expansive fiscal policy that continues to be so strong is therefore decreasing.”

In addition, there are always deadweight effects at companies that find themselves in a difficult situation without this having anything to do with Corona. However, Feld limits his analysis with a view to the event industry. “If the state restricts certain companies in certain sectors of the constitutionally granted freedom of trade, then this must be compensated. But we will have to live with Corona in the long term. Therefore, I think it is questionable whether the events industry can continue as it did before the pandemic.”

Digital structural change also in the event area

Tim Sandrock in Mainz knows that too. In order to survive economically, Flo-Service had already digitized itself during the lockdown. “We have brought our analog offers into the digital space. Instead of a meeting with a projector, screen or interpreting service, we now also offer complete software solutions”says Sandrock. Corona has massively accelerated development. “There will be a growing digital share at events of all kinds in the future.”

In order not to complicate this structural change, Sandrock is also in favor of a foreseeable phase out of the aid. For the next few months, however, the company needs government aid again. If politicians decide in favor of renewed extension, Sandrock will submit an application. “But I am sure that the industry will recover quickly after Corona. I’m also counting on a catch-up effect. Man is a sociable being. That’s why we’ll be back.”

Tariff round 2021 The fight for the collective agreement

Status: 15.06.2021 12:43 p.m.

The economy in Germany will recover in 2021 after the slump as a result of the pandemic. The unions are now calling for some significant wage increases. Your goals and the collective bargaining agreements for 2021 at a glance. Falling numbers of new corona infections and the progress made in vaccination will lead to an economic recovery in Germany in 2021. The growing global economy supports the demand for goods “Made in Germany”. At the same time, inflation is rising significantly. With their sometimes high demands, the unions want all the more to ensure that the collective bargaining agreements in 2021 do not result in any real wage losses for employees.

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The trade unions and employers naturally assess the scope for wage increases differently in this situation. Collective bargaining is therefore programmed. You can find an overview of the major collective bargaining rounds in 2021 here:

* Source: WSI tariff archive; Note d. Red .: The table only shows the percentage wage claims and collective bargaining agreements. We have not listed special regulations such as one-off payments, profit sharing, wage increases by fixed sums (for all employees regardless of the respective income), vacation, etc. in order to keep the table clearer and comparable.

Hundreds of thousands of motorbike taxi drivers in Rwanda will be able to change petrol motorbikes into electric cars Bloomberg reported that the Rwandan government has partnered with a local company, Rwandan Electric Mobility, to deploy electric scooters in the country’s capital, Kigali. Rwanda has a population of more than 12.6 million people living in an area of ​​26,338 square kilometers, and is the most densely populated country in Africa. The motorbike taxi industry, motorbike taxi service, or delivery is a popular method of transportation and delivery in this country, thanks to its affordable prices and access to all corners of the country. Therefore, the initiative to convert gasoline-powered motorbikes that are nearing the end of their service life to electric ones, will help about 100,000 current motorbike owners to have new and zero-emission vehicles. This move not only reduces the overall carbon footprint but also effectively extends the life of these vehicles. It also greatly reduces maintenance costs, car owners don’t need to worry about oil changes and refueling their vehicles. To launch the project, the Rwanda Environmental Management Agency (REMA) signed a contract with Rwandan Electric Mobility, and technical and financial support from the United Nations Development Program (UNDP) was also secured to promote the project. project progress. The trial phase, which is expected to last for 6 months, will convert about 30,000 motorbike taxis currently using gasoline engines to electric motorbikes.

On June 14, local time, the Russian President’s website released Putin’s interview with NBC TV in the United States.

When answering questions about Sino-Russian relations, Putin said that the Sino-Russian strategic partnership has reached the highest level in history in recent years, and the two sides have maintained a high degree of trust and cooperation in political, economic, scientific and technological fields.

Putin emphasized, “We don’t think China is a threat to us. It is a friendly country. It does not declare us an enemy like the United States.” China’s development is obvious to all. China is a large and powerful country with a population of nearly 1.5 billion. In terms of purchasing power parity, China’s economy has surpassed that of the United States. Last year, China was Europe’s largest trading partner and the United States ranked second. But China’s strength will not worry Russia. One of the reasons is that Russia’s defense capabilities are at a very high level, but the most important thing is that the nature and level of Sino-Russian relations determines that Russia will not be wary of China’s development.

Putin also pointed out on the Xinjiang issue that he himself had the opportunity to meet with Uyghur representatives during his visit to China. He heard firsthand that the people generally welcome the Chinese government’s ethnic policies and affirmed that the Chinese government has done a lot of practical things for people living in Xinjiang in the economic and cultural fields.

Editor Zhou Yuhua of this issue

Computer technology A quantum leap for Germany?

Status: 15.06.2021 6:25 p.m.

Europe’s first quantum computer was inaugurated in Ehningen near Stuttgart. The ultra-fast computer from IBM is supposed to help the economy compete with China and the USA. From Michael Herr, SWR The “marvel of technology”, as Angela Merkel called it, is massive: the quantum computer, IBM and the Fraunhofer-Gesellschaft on Tuesday at the German headquarters, is supposed to have a footprint of three by three meters at a height of three meters of the IT group in Ehningen near Stuttgart has presented to the public. According to IBM, the “most powerful quantum computer in the industrial environment of Europe” has officially arrived in Swabia. It was set up in November last year. Because of the pandemic, the computer could only be inaugurated today. The expectations that many have placed on the system are even greater than the computer: some experts predict that quantum technology will be the starting point for the next industrial revolution. The quantum computer should also ensure that Germany is at the forefront when it breaks out.

03/09/2021

Favorite project of the Chancellor

The new computer in Ehningen is called “Quantum System One” – and is considered a kind of favorite project of Merkel. At least it could be switched on live at the opening. She arranged the project herself – on the sidelines of the World Economic Forum in Davos 2019, during a conversation with IBM boss Ginni Rometty. In the autumn of the same year the promise was made: the computer will come to Germany. The Fraunhofer researchers will initially use the facility exclusively until the end of 2023. Fraunhofer President Reimund Neugebauer said that computing power would be rented to research institutions and companies of all sizes. Companies should also make use of their research results. Only recently, a quantum alliance of leading corporations in the field was founded in Germany. On board are among others BASF, SAP and VW. A total of six projects have now been started with partners from science and industry to research quantum technology, possible application scenarios and algorithms. The computer is the first that the US corporation IBM is making available outside the USA.

October 24, 2019

Computer technology revolution

Now that the potential of supercomputers has largely been exhausted, quantum computers are seen as a new beacon of hope for industry and research. Wherever large amounts of data arise, for example in the simulation of molecules or in drug research with its innumerable variables, quantum computers have the edge. The reason for this lies in their special type of information processing. A normal computer calculates in bits. However, these can only assume two states, 1 or 0. The computing power that can be provided is therefore limited. Quantum computers, on the other hand, calculate with qubits, tiny quantum particles such as photons or electrons. To put it simply, these can not only alternately assume the states 1 or 0, but both at the same time. This enables you to carry out many calculations in parallel.

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Germany Developing country in quantum computing

So far, Germany and Europe have practically not appeared on the world map of quantum computing. This is shown not least by the fact that it first took a US company to bring the first commercial quantum computer to Europe. The big players in the business are in the USA; A total of 13 established companies are currently working there on computers or associated software, including names like Google and Microsoft. China has also invested huge sums in the technology. In order to catch up with the deficit of the German economy, the state has reached into its pockets: 40 million euros are provided for the system in Ehingen, financed by the federal government and the state of Baden-Württemberg. The Chancellor said it was a future technology that could achieve breakthroughs in medical technology and revolutionize materials research because the speed of computers would make very complex calculations possible. With its funding of two billion euros until 2025, the federal government wants to support market-oriented development. In addition, Germany wants to develop its own quantum computer demonstrator with a company consortium in the next two years. In Germany the results of quantum technology research must now be used “as quickly as possible”, also economically, said Merkel. In other words: New industrial applications for the technology are needed. Many possible uses of quantum mechanics have so far only been at the research stage.

Exclusive 02/04/2021

Quantum technology improves cancer diagnostics

You can already see the potential of the technology at the start-up “NVision” in Ulm. 30 employees from nine nations work here. They share knowledge and curiosity for quantum physics. They are making use of their principles for new diagnostic methods with which cancer can be detected better and earlier. To do this, they use a sugar-like active ingredient that makes cancer cells detectable in the magnetic resonance tomograph. “We make sugar visible by using quantum technology to magnify the signals it sends out ten thousand times.” explains Ilia Schwartz, one of the founders of “NVision” and one of the most renowned quantum scientists at all. With the new technology, tumor diagnoses could soon be made without the use of radioactive contrast media. And doctors would gain deep insights into diseased tissue like never before: Tumors could be detected earlier and the success or failure of therapies could be determined. The new computer should also ensure that such success stories of quantum technology become even more common in Germany. However, there is another problem to be resolved on the way there: So far, there has been a lack of a sufficient number of programmers in this country who can exploit the potential of the new machine.

Transparency International Germans concerned about economic influence

Status: 15.06.2021 09:26 a.m.

Many EU citizens perceive corruption as a major problem – this is evident from the current corruption barometer from Transparency International. Germany too has to do significantly more. From Philipp Eckstein, ARD capital studio Corruption: a problem across the European Union. The perception of the citizens is correspondingly critical. This is how the statements of the corruption barometer from Transparency International can be summarized. Between October and December 2020, more than 40,000 people were interviewed by telephone for the representative survey in the EU. Around a third of them said that they believe that corruption has increased in their country in the past year. The increase in Cyprus was particularly strong at 65 percent.

Corruption scandal in Cyprus

Last year, journalists there discovered that politicians had sold passports to criminals from abroad – probably for a fee. That is one reason why the perception of corruption in Cyprus has deteriorated so significantly, according to Transparency International. Almost two thirds of the EU citizens questioned said in the survey that corruption was a major problem in their government. There are clear differences within the EU.

Big differences between countries

While in Denmark and Finland only twelve and 16 percent perceive a corruption problem in their government, in Bulgaria it is 90 percent and in Croatia even 92 percent. Of the 4800 or so respondents in Germany, 34 percent said corruption was a problem in the federal government. Overall, according to the study, trust in government and politics in Germany is relatively high compared to many other European countries.

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Nevertheless: “We still have a problem with corruption,” says Hartmut Bäumer, Chairman of Transparency Germany. 62 percent of those questioned would say: “The government is essentially controlled in its decisions by large financial interests.” So it follows financially strong interest groups and not the interests of the general public. In addition, more than 38 percent have the perception that the federal government is doing too little against corruption. Taken together, “these are numbers that are really worrying,” said Bäumer, “because they feed those who are critical of the state and our liberal democracy anyway. And that is, so to speak, the breeding ground for everything that changes from lateral thinkers or right or left radicalism developed from. ”

Stricter requirements for lobby registers

The federal government urgently needs to do more to combat corruption and, above all, to ensure more transparency, according to Transparency International, for example through stricter rules for the lobby register. The anti-corruption organization is also calling for corporate criminal law to be introduced. Such measures can regain lost trust.

01/28/2021

This seems to be urgently needed, especially in the business sector. According to the survey, one in three respondents in Germany believe that all or most of the business leaders are involved in corruption. More than half believe companies use money or relationships to get public contracts.

Investors in high spirits Why the DAX rushes from record to record

Status: 14.06.2021 4:03 p.m.

While the economy is only slowly picking up pace after the Corona openings, the German stock market does not seem to be stopping. What are the main reasons for the price boom? From Lothar Gries, tagesschau.de The German leading index DAX rose by up to 0.7 percent in the morning and climbed to a record high of 15,802 points – the 23rd record this year. The index has risen by 15 percent since the beginning of the year. The stock exchanges are also in record-breaking mood at the European level. The Stoxx 600 index, comprising 600 values, also climbed 0.7 percent today and reached its 38th high this year with 460.51 points. The stock markets are fired from several sides. The most important driver is the expansionary monetary policy of the central banks in the USA and Europe. Since the European Central Bank (ECB) lowered the key interest rate to zero on March 10, 2016, i.e. more than five years ago, the returns on traditional savings offers from banks and savings banks have also shrunk to such an extent that even risk-averse German investors are looking for alternatives have looked around. In addition to real estate and precious metals, stocks are very popular.

More and more shareholders

In this country there were as many shareholders last year as last year in 2001, as determined by the German Stock Institute (DAI). According to this, 12.4 million people in Germany have invested in the stock market, i.e. they owned exchange-traded securities such as fund shares or stocks. Compared to 2019, that’s an increase of 2.7 million or 28 percent. The downward trend of previous years has thus been completely reversed. After the dot-com bubble burst in 2000, the number of equity investors in Germany steadily declined – until interest rates sank to virtually zero. But the ECB has not only boosted the number of shareholders and thus share investments, it is also active on the capital markets itself. In order to keep the economic effects of the corona pandemic as low as possible, the central bank is pumping many millions of euros into the market every day. To do this, it buys bonds issued by governments and companies. By the end of March 2022, she wants to spend the gigantic sum of 1.85 trillion euros, a number with twelve zeros. A considerable part of it flows into the stock market and drives prices to ever new heights.

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No end of the flood in sight

In the past few weeks, there have been repeated suspicions that the central banks in Europe and the USA will soon be able to turn the money off again because inflation is reporting back and price increases have shot far beyond the monetary authorities’ targets. But both Jerome Powell, the head of the US Federal Reserve (Fed), and ECB President Christine Lagarde initially gave the all-clear. Just today, Lagarde said in an interview with the magazine “Politico” that the time was not yet ripe for a discussion about an end to the crisis bond purchases by the central bank. “It is far too early to debate these issues,” said Lagarde. The economic recovery must be firm, solid and sustainable. Don’t take a patient’s crutches off until the muscles begin to build up sufficiently – so that the patient can move on their own two legs again.

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V-shaped economic recovery expected

In addition, investors are assuming that the pandemic-related restrictions will end soon. “The pandemic is no longer an issue at the latest with the now significantly lower number of new infections, and investors also seem to be able to come to terms more and more with the fear of inflation,” says market expert Milan Cutkovic from brokerage firm Axi. With the decline in Covid-19 restrictions, growth expectations are skyrocketing around the globe. The Organization for Economic Cooperation and Development (OECD) expects the global economy to grow by 5.7 percent this year. For Germany, the federal government expects growth of up to four percent. The prognosis from the beginning of the Corona crisis that there will be a V-effect in which the economy first collapses, but then quickly recovers, seems to be confirmed. This is rather good news for equity investors, because they hope that a growing economy will generate increasing profits and thus rising prices for listed companies.

Price turbulence ahead?

This combination of a zero interest rate policy, a glut of money from the central banks, a growing number of shareholders and the expectation of a rapid recovery in the global economy is driving share prices to ever new heights. But the air is getting thinner. Many investors are watching the Fed’s monetary policy deliberations this Wednesday. It is true that the Fed is not expected to deviate from its current course and end the boom in the financial markets. “But their projections on inflation, interest rates and the economy could cause price turbulence,” says Naeem Aslam, chief market analyst at the brokerage firm AvaTrade.

Economic recovery Is Germany’s upswing lagging behind?

Status: 11.06.2021 6:09 p.m.

The corona numbers are falling, economic life is normalizing and the economy is picking up again. Germany seems to be lagging behind its neighbors. Is it really like that? From Lothar Gries, tagesschau.de The British economy grew by 27.6 percent in April compared to the same month last year – a record as the National Statistics Office (ONS) announced. The strong growth figures reflect the economic recovery in the wake of the gradual opening of the economy, which crashed in spring 2020 after the start of the pandemic and the following protective measures. Projected over the year, the British central bank now expects an increase in gross domestic product (GDP) of 7.25 percent. That would be the highest growth rate since 1941. Other European countries such as France are also assuming a strong economic recovery of 5.5 to 5.7 percent for the current year. The Spanish government even expects an increase of 6.5 percent. In fact, in the opinion of most economists, the prospects for economic growth in the euro area have brightened significantly in view of the falling number of corona infections and the global economic recovery. According to the latest information, the European Central Bank (ECB) is therefore assuming an increase in GDP in the euro area of ​​4.6 percent this year.

06/11/2021

Germany far behind in terms of growth

After a strong upward trend, things should go up in the USA, which is still the largest economy in the world. There, the Federal Reserve (Fed) is expecting an increase in economic output of 6.5 percent with a view to the advanced vaccination campaign and the prospect of an economic stimulus package. In China, Germany’s most important trading partner, the economy is likely to grow by as much as 8.5 percent this year. And Germany? Lies far behind in one of the farthest places. The Bundesbank currently expects GDP growth of 3.7 percent for 2021. Federal Minister of Economics Peter Altmaier is even more optimistic. “Thanks to extensive government aid of almost 300 billion euros, the German economy survived the worst of the coronavirus crisis. This year, growth of three and a half to four percent would be possible,” said the minister.

05/12/2021

So is the recovery of the domestic economy lagging behind that of its most important trading partners? The economists of the Organization for Economic Cooperation and Development (OECD) give a differentiated answer. It is true that the economy in countries that quickly vaccinate their population against Covid-19 and that contain the infection rate through effective measures is recovering faster than elsewhere.

Already in the summer pre-crisis level

In South Korea and the United States, for example, per capita income is likely to have reached pre-pandemic levels by the end of this month. In large parts of Europe, however, this will only be the case after three years, in Mexico and South Africa it may take five years or more, the OECD fears. Seen in this way, Germany is in a much better position than when looking at the bare growth figures. The Bundesbank estimates that economic output could reach pre-crisis levels again this summer. The economists of the OECD expect that this will not be the case until the end of the year.

background 05/31/2021

Nevertheless, the recovery in Germany would still be faster than in Italy, France or Spain. In these countries, GDP per capita is unlikely to be above the level of the end of 2019 until the middle of next year, according to the forecast of the OECD. It looks particularly bleak for Spain, whose economy will not be above pre-crisis levels again until the summer of 2023. The experts predict that Great Britain will not return to pre-crisis levels until the middle of next year.

Fatal dependence on tourism

This shows the great dependence of these states on the service sector and especially on tourism. In Spain, for example, this industry slumped by 48.4 percent last year, in Italy by 35.1 percent, in Greece even by 55.4 percent, while in Germany it fell by almost 15 percent. Accordingly, GDP fell less sharply in Germany last year than in most of the neighboring countries. This is also due to the comparatively higher share of industry in the overall economy and its unchanged strong exports to China. “How strong the economic recovery will be in each country depends on the level of government support for businesses and vulnerable workers, the degree of dependence on certain industries such as tourism, and health and vaccination policies,” said a May report Study by the OECD. Despite the global economic recovery, global income is likely to be around three trillion dollars lower than before the pandemic by the end of 2022, the OECD estimates. This roughly corresponds to the performance of the French economy.

The Greens and the Economy relationship status complicated

Status: 11.06.2021 5:19 p.m.

For a long time eco-party and industry could not go together. In the meantime, both sides have grown closer. But the relationship remains difficult: many companies are critical of the election manifesto. By Björn Dake, ARD capital studio Leuna Chemical Park in Saxony-Anhalt. Robert Habeck is standing on a construction site wearing a white hard hat. A new system for epoxy resin is being built here – including for wind turbine rotor blades. The Green boss listens with interest and keeps asking questions. As a farewell, the boss of the chemical park operator Infraleuna, Christof Günther, gives him a book and says: “We would of course be happy if you might honor us again in a different role.” The chemical industry is looking for contact with the Greens. Who knows if they won’t be in the federal government in a few months and Habeck will be a minister?

End of an enmity

Habeck is still party leader of the Greens alongside Annalena Baerbock. And as such, he seeks proximity to industry: “Chemistry has to become climate-neutral. The best way to do that is to talk to chemistry.” When visiting the election campaign in Leuna, there was no sign of fear of contact. Not anymore, as Habeck emphasizes: “The old hostility, greens and chemistry, where it used to be said: Close everything so that the environment is clean – it has long since become a constructive, creative, searching relationship with one another.”

Lobbyists are lining up

Dieter Janecek is responsible for this relationship. He is the industrial policy spokesman for the Green parliamentary group in the Bundestag. As the MP from Munich reports, the lobbyists are standing in line with him. Almost 50 percent of the election campaign dates are company visits. Many companies also wanted to show what problems they have with the energy transition. According to Janecek, the relationship is not free of tension. For example, the will be discussed The amount of the CO2 price and the question of what the state and what the market regulates. However, he sees the networking between the Greens and business at a high point. Ex-Siemens boss Joe Kaeser will speak at the federal delegates’ conference on the weekend. So are the bosses campaigning for the Green Chancellor candidate Baerbock?

Industry is critical of the election program

Joachim Lang from the Federation of German Industries does not want to make an election recommendation. He also says that relations with the Greens have improved. According to him, the party leadership has begun to be interested in the economy. He is all the more astonished by the Greens’ party program. The BDI chief executive calls it “a tribute to the left party base”. Lang accuses the Greens of wanting to replace the social market economy with state control and redistribution. He means, for example, rent ceilings, a higher top tax rate and a wealth tax.

Economy demands faster climate decisions

The industry association thinks it is good that the Greens want to push investments. In the draft of the election manifesto, on which the Greens delegates will vote on the weekend, there is talk of investments amounting to 50 billion euros per year. The money is to be spent on fast internet, rail expansion, research and urban development. This is to be financed primarily through loans. Regardless of who will rule after the federal election – the industry wants planning security in climate policy. Lang says: “Every new federal government will have to find clear, new decision-making paths because we no longer have the time for the previous decision-making paths.”

Weak economic literacy in state elections

Back in Saxony-Anhalt. Habeck is campaigning in the beer garden on the Peißnitzinsel in Halle. He stands in the shade of some trees and reports on his visit to Leuna. His conclusion: The contrast between climate protection and the economy has always been “stupid”. Climate protection is economic policy and location policy. There is applause from around 100 listeners. But in the state elections in Saxony-Anhalt last Sunday, the Greens won only a few votes. The election analysis shows that the economy and jobs remain weak points for the party. The pollsters of Infratest dimap measure the lowest competence values ​​here.

Consumption around the EM Will football boost the economy?

Status: 11.06.2021 09:55 a.m.

Normally, major sporting events create a special boom in the economy. At the EM this year it will be a little different. From Notker Blechner, tagesschau.de Actually, the “Euro 2020” should stimulate Europe’s economy, especially tourism. For the first time, the European Football Championship will take place in several countries – so the organizers originally hoped that thousands of fans would travel across Europe, go out to eat, shop and stay in hotels. But because of the corona pandemic, this calculation no longer works. Most cities will have a limited number of viewers. Many fans refrain from traveling and prefer to stay at home in front of the television at home.

Only limited economic stimulus

The direct economic effects on the host countries of the EM are likely to be limited. The travel industry, gastronomy and hotel business are not expecting a large boost from foreign guests. Even in the only German European Championship host city Munich, the expectations are not too high. Especially since there was no special boom for the construction industry in the run-up to the tournament – unlike at previous events. Most of the stadiums have not been specially modernized for the European Championship, as is usually the case with major sporting events. The infrastructure in the host cities was also not extensively renovated. “Since the games are being played all over Europe, there was no need to invest heavily,” explains Gert Wagner from the German Institute for Economic Research (DIW) tagesschau.de .

No million investments in infrastructure and stadiums

It was different at the previous European Championships: For the Euro 2012 in Poland and Ukraine. Ukraine invested eleven percent of their gross domestic product and Poland seven percent in the expansion of the stadiums and infrastructure, as the Berenberg Bank has calculated. However, the hoped-for economic boom did not materialize afterwards – at least in Ukraine. The 2016 European Championships in France were more successful: hosting the tournament in their own country cost a good 200 million euros in public expenditure. This contrasted with 1.2 billion euros in revenue. According to an estimate by the European football association UEFA, half of these came from foreign visitors. Not included in the balance sheet, however, are the costs of 1.6 billion euros for the construction and modernization of the French stadiums. This time, the EM should bring the greatest impetus to domestic consumption. Many Germans are expected to spend more money on new televisions, beer, chips, grilled food and maybe a few fan items in June and July in order to watch the European Championship games in their own four walls or in the garden at home. “Basically, consumer goods companies that do a lot of advertising benefit, sporting goods outfitters, food manufacturers and of course beer brands that do particularly well when the weather is good. When there is a barbecue, more beer is drunk,” says capital market strategist Oliver Roth from banking house Oddo Seydler.

More business with TV sets?

According to a survey by the trade association HDE, 41 percent of electronics retailers expect higher sales. Because experience from past major sports events shows that “before and after the start of the tournament, particularly large TV sets are purchased”, according to the market watchers from Nuremberg-based GfK. Electronics retail chains such as MediaMarkt Saturn are already feeling “an increasing interest in large-format TV sets”. After the end of the corona lockdown, the Germans’ desire to consume is likely to reawaken anyway. During the pandemic, many German citizens had no way of spending their money on travel or expensive restaurant and concert visits.

Brewers increase their capacities

Other industries also believe in an EM effect. Every third grocer is hoping for more income from the European Championship, according to the HDE survey. The brewers in particular have increased their capacities and are hoping for good summer business. However, Corona continues to get in their way. Because public viewings, where the beer flows freely, will probably only take place on a small scale. So far, “our business has only been running with slowed-down foam,” explains Holger Eichele, General Manager of the German Brewers’ Association. The sporting goods manufacturers are traditionally considered to be the greatest beneficiaries of a European Football Championship. Adidas, Nike, Puma & Co have been preparing for months with extensive marketing and advertising campaigns for the sporting event of the year. The further the national team they have equipped goes, the better business with the jerseys is. Adidas and Nike deliver a duel here. The brand with the three stripes has three favorites for the title: Spain, Belgium and Germany. Nike can score with world champion and title contender France as well as with secret favorite England. Adidas also provides the official match ball, the Uniforia.

It depends on the cut

How big the consumption effect is in different countries ultimately depends on how well your own team performs. Should the kickers of the outgoing national coach Jogi Low manage a new edition of the “summer fairy tale” from 2006 or 2014, the consumer mood in Germany is likely to jump even stronger. In the betting offices, however, the Löw team is only considered an outsider this time. In the past, winning a World Cup or European Championship title not only boosted consumption, but also infected the stock markets. The stock market of the respective European or world champions usually developed better than the MSCI World Index after the tournaments. DIW economist Wagner, however, considers the psychological impulse to be the most important: “We will get a demonstration that we have the pandemic largely under control in Europe. That will be an important signal.”

Competition with china US Senate passed Billion program

Status: 09.06.2021 09:01 a.m.

With a $ 250 billion program, the US wants to make up economic ground against China. The aim is semiconductor production and the research area Artificial Intelligence. The US Senate has passed a huge investment program in research and technology. Across all parties, the senators voted in favor of the package of measures designed to strengthen the US economy in competition with China. One of the goals is to advance the production of semiconductors in the USA and research in the field of artificial intelligence. Senate Democratic Majority Leader Chuck Schumer said after the vote: “If we don’t do anything, our days as the dominant superpower could be numbered.” US President Joe Biden was satisfied with the Senate decision: “We are competing for victory in the 21st century and the starting shot has been fired.” The US would have to maintain its position as “the most innovative and productive nation in the world”, according to Biden.

Production capacities decreased

According to the White House, the proportion of semiconductor production capacity in the US has fallen from 37 percent to around 12 percent of global production over the past 20 years. US companies are dependent on foreign countries, in particular on countries in Asia, which is a risk in the supply chain. Currently, many automakers and electronics manufacturers are struggling with not enough chips on the market. Among other things, the surge in demand for notebooks and other computer technology during the pandemic led to the shortage of semiconductors.

Discover the technologies of tomorrow

President Biden said the bill will enable the US to discover, manufacture and improve tomorrow’s key technologies – from artificial intelligence to computer chips to lithium batteries used in smart devices and electric vehicles – in the United States United States. The House of Representatives must also give its approval for the Investment Act to come into force. According to the US media, it could meet with resistance there.

Protection of the world’s oceans Hope for the “Blue Economy”

As of: 06/08/2021 12:59 p.m.

The seas are at risk from climate change, pollution and overfishing. But gradually a rethink is also beginning in the economy – the protection of the oceans is recognized as a business. From Notker Blechner, tagesschau.de Sometimes an accident can lead to a complete change in life. For example with Emily Penn. The architect and passionate sailor had her aha experience on a boat trip from Great Britain to Australia. “One night all the passengers woke up to a loud bang,” she says. “Our ship had rammed a plastic mountain – in the middle of the ocean, away from any civilization.” Since then, Penn has been committed to protecting the oceans, giving lectures, organizing events and doing research expeditions to find solutions to the fight against the plastic flood in the oceans. Penn is known as the “advocate for the seas”.

Shoes, sunglasses and backpacks made from ocean trash

The marine activist is encouraged by increasing business initiatives against plastic waste pollution in the oceans. Several companies and start-ups have developed methods of making new products from marine litter. Adidas offers shoes and jerseys made from recycled “ocean plastic”. Other manufacturers are making new sunglasses, backpacks and skateboards out of marine plastic waste. Even the Dutchman Boyen Slat, founder of the start-up “Ocean Cleanup”, now sells sunglasses with frames made from recycled ocean plastic. “Ocean Cleanup” collects plastic waste on the open sea with ships. The Italian Giulio Bonazzi has managed to make a special fiber – Econyl – from old fishing nets, which is used for tights and bikinis. Bonazzi calculates that every ton of Econyl saves six tons of carbon dioxide.

Marketing gimmick?

Environmentalists warn against being misled. Products made from ocean plastic are often a marketing gimmick and misleading. In some of them there is hardly any plastic waste from the oceans, according to the WWF. Nevertheless: The fight against the mountains of plastic has now begun in business and politics. The G20 states have announced that they will ban plastic waste from the world’s oceans by 2050. It is currently estimated that around 13 million tons of plastic waste end up in the oceans every year.

14 coastal countries are leading the way in marine protection

The pictures of polluted beaches after tankers leaked like now back in Sri Lanka show how important global marine protection is. A total of 14 countries, including Australia, Canada, Japan, Indonesia, Mexico and Norway, have come together in a kind of “Ocean Panel” and have committed to sustainably managing their national waters in the future. “For too long we have made the wrong choice between marine protection and production,” admits Norway’s Prime Minister Erna Solberg, co-head of the Ocean Panel.

Danger to the species: A sea turtle that has become entangled in a drifting net. Image: picture alliance / AP Photo According to a study that was published in the journal “Nature” at the end of March, hundreds of millions of CO2 could be saved through marine protection. So far, not even three percent of the world’s oceans have been strictly protected. The study’s authors see the greatest potential in restricting bottom trawling. This controversial fishing method involves ships pulling a net across the ocean floor. The living beings on the ground are destroyed, plants are uprooted and spawning grounds for fish are destroyed. In addition, the agitation of the seabed releases organic carbon compounds and converts them into climate-damaging CO2.

Great potential for CO2 savings

The Ocean Panel has proposed several measures to promote marine and climate protection: In addition to carbon storage in the seabed, the panel recommends sustainable fishing and aquaculture, the expansion of offshore energy in the sea and ocean-compatible transport. According to calculations, this could reduce carbon dioxide emissions by a fifth, trigger investments of over 15 trillion dollars and create 12 million new jobs. Indeed, there is a gradual rethinking of the maritime economy. The International Maritime Organization has mandated stricter sulfur emissions values ​​in 2020. Instead of using heavy fuel oil, the ships now have to run on marine diesel. The only exception: ships with so-called scrubber exhaust gas cleaning systems are still allowed to use heavy fuel oil. Over 350 container and cruise ships as well as tankers have switched to liquefied natural gas (LNG). LNG contains no sulfur, hardly any nitrogen oxides and 20 percent less CO2. However, the greenhouse gas methane allegedly escapes. “The liquefied natural gas turns out to be a harmful wrong path,” says Nabu in the meantime. Shore power systems have been put into operation in Rostock-Warnemünde and Hamburg so that cruise ships do not need the ship’s diesel for power supply while they are in port.

“Blue Economy” becomes a billion dollar business

Investors such as the DWS fund company from Deutsche Bank have long been interested in the “blue economy”. According to the WWF, the ocean’s annual “gross sea product” is $ 2.5 trillion. This would make the “blue economy” the eighth largest economy in the world. DWS fund manager Paul Buchwitz predicts that the “blue economy” will grow twice as fast as the established economy by 2030. The “blue economy” includes companies that help to reduce marine pollution and curb ocean acidification – as well as those that deal with the sustainable use of marine resources, ecosystems and sustainable fisheries.

Ho Chi Minh City is the first locality in the country to announce the Digital Transformation Program under Decision No. 2393/QD-UBND; followed by the Implementation Plan of the Program “Digital Transformation of Ho Chi Minh City in 2021” issued by the City People’s Committee in early March 2021. In order to carry out the tasks to achieve the set goals, HCMC needs many tools to implement. In particular, leaders of Ho Chi Minh City said that they will prioritize the establishment of professional center models to promote digital transformation in key areas of the City. The first phase will establish DXCenter in the downtown area to focus on promoting digital transformation activities in the locality, acting as a bridge between different components of the digital economy, creating resonance brings the highest efficiency to digital transformation. 1 of the 5 basic functions of DXCenter are promote innovation startup ecosystem, support individuals and businesses to research and develop digital technology products (Artwork: Executive production at AA factory). DXCenter will have 5 basic functions. Firstly, promote activities to connect supply and demand, transfer technology, test digital technology products, act as an intermediary linking components of the digital economy. Secondly, implementing activities to renew thinking and awareness about digital transformation through events, training programs, coaching, communication programs on digital transformation. Third, promote the innovation startup ecosystem, support individuals and businesses to research and develop digital technology products. Fourth, implementing international cooperation programs on digital transformation, promoting cooperation with prestigious partners in the world; seek funding sources for Vietnam’s digital transformation projects. Fifth, evaluate and appraise the quality and effectiveness of technology products; supporting research, development, improvement and upgrading of technology products and solutions. In the near future, DXCenter’s leadership will quickly implement specific activities, focusing on working directly with a team of in-depth consultants in key digital economy fields. Along with that, connecting with the leading technology business community, especially with information technology associations; media agencies to develop communication topics to raise awareness about digital transformation to individuals and businesses of Ho Chi Minh City; deploying communication activities, events, training, consulting programs to connect supply and demand. At the same time, DXCenter will be built into a “common house” on digital transformation, including thematic spaces on digital economy, digital infrastructure, digital government, digital society; space to display and introduce digital technology products and solutions. Data about these products and solutions will also be digitized on the DX-eHub platform, integrated with evaluation and testing functions, etc. to help customers easily find suitable products.

An employee scans and checks products in a Tiki warehouse in Ho Chi Minh City. (Photo: Bloomberg) Crossing the crowded streets of Ho Chi Minh City in a Honda, Ho Duc Quang carries toys, books and other packages to deliver to Tiki.vn customers. Quang, 25, needs to be quick, as Tiki promises to deliver in 2 hours. He uses AirPods to notify customers of his arrival, but there is one thing that slows down this shipper: Quang has to wait for customers to open the package, confirm the correct goods before departing for the next trip. It is a mandatory operation for those who do not trust online sellers. Quang’s speedy deliveries between the city of 9 million people are just part of a campaign to win over customers, many of whom shop online for the first time due to the pandemic. Winning isn’t easy where only about a third of adults have a bank account and less than 5% have a credit card. Most shopping at convenience stores, traditional markets. Although Euromonitor International estimates that e-commerce will only account for 3% of Vietnam’s retail market in 2020, the lowest in Southeast Asia, the potential of the market is extremely attractive. According to a report by Google, Temasek, Bain & Co, Vietnam’s digital economy is predicted to reach US$52 billion by 2025, an increase of 29% compared to 2020. Competition for customers Startups backed by Warburg Pincus, Goldman Sachs, JD.com or Shopee, Amazon are all targeting the Vietnamese middle class. From 2016 to the first half of 2020, investors poured $1.9 billion into the domestic online sector. Mr. Ralf Matthaes, Managing Director of Infocus Mekong Research, assessed that Vietnam is in the early stages of becoming a digital society with a young and technology-loving population. Therefore, these companies have to compete with each other to provide services. The government has set a target of online shopping to account for 10% of Vietnam’s retail sales by 2025. The regulator wants to reduce cash payments to create a more transparent, modern economy through increased non-payment of transactions. cash for public services and improve the regulatory framework for electronic payments. The consortium led by Alibaba and Baring Private Equity Asia will invest $400 million in exchange for a 5.5% stake in CrownX of Masan retail group. Under the agreement, Masan will cooperate with Lazada – Alibaba’s e-commerce platform in Southeast Asia. Kenny Ho, Southeast Asia Investment Director of Alibaba, affirmed that the combination of Alibaba’s online retail expertise, Lazada’s Vietnam platform, and Masan’s offline network will be a powerful catalyst for the company’s success. modernization of Vietnam’s retail market. In January, M-Service, the startup behind the Momo e-wallet, raised more than $100 million from an investment group, including Warburg Pincus. For the first time in their shopping life, Vietnamese people are “encircled” by the form of customer-first retailing that is common in developed economies. Trust of customers Online retailers are trying to woo shoppers wary of scam stores that don’t offer return policies. According to economist Nguyen Tri Hieu, “Vietnamese people don’t trust what they can’t see. Usually, they need to know what they’re buying. They have to smell it and touch it.” So e-commerce sites raced to launch marketing campaigns, offering discounts on everything from AirPods to Samsung washing machines. E-wallet startup that offers coupons. Tiki applies a refund policy of up to 30 days. Nguyen Thi Kim Chi, 31, who works for an entertainment website, said that 70% off and customer-oriented items attract her. Buyers are empowered to evaluate products and services online. If normal, they often have to go to the store complaining about the low quality of the product and there may be quarrels but nothing is corrected. According to Mr. Matthase, the epidemic will boost digital retail as 30% more Vietnamese will shop for everything from food to electronics online in 2020. Retail shifting According to Jeffrey Perlman, managing director of Warburg Pincus in Singapore, Vietnam’s retail market changes faster than other markets. Tiki is currently the largest domestic e-commerce platform in the country. Software engineer Tran Ngoc Thai Son built Tiki in 2010 from $5,000. Mr. Son writes code, buys 100 English books from Amazon, and delivers it by himself by motorbike. Currently, Tiki has 3,100 employees and a state-of-the-art logistics operations system overseen by Henry Low, former head of Amazon and Coupang. Along with the company’s growth is the effort to attract customers. Mr. Son deployed a system to filter counterfeit goods and sided with customers. For example, if there is a defect in a newly purchased phone, the customer wants to return it, they will support 100%. If the seller is not okay with this decision, Tiki will shut down their account. From diapers to beer According to Crunchbase, investors like Sumitomo, JD.com have invested $192.5 million in Tiki. Mr. Son anticipates more rounds of funding and prepares for an IPO. According to Mr. Low, Tiki handles less than 2 million orders per month. Employees busy arranging everything from diapers and diapers to Corona beer in the 10,000-square-foot fulfillment center. Tiki applies artificial intelligence and robots capable of transporting 800kg products to speed things up. Thanks to the logistics system, Mr. Son aims to transport 500,000 products in 2 hours, up from 200,000 currently, helping Tiki achieve its profit target. Du Lam (According to Bloomberg)

“Will hug everyone who can” Most Britons will be free to hug, albeit with caution, have a few beers in pubs, sit down to eat in restaurants or visit the cinema after a series of strict lockdowns. Britain’s biggest public health crisis in a century has brought parties, gatherings and religious services to a halt, with fines of up to £10,000 ($14,000) for violators. The UK has begun to relax the anti-epidemic restrictions. (Photo: Reuters) British actress Joanna Lumley told The Telegraph: “I’ll literally hug everyone I can.” However, besides the excitement, there is also anxiety. Prime Minister Boris Johnson warned people to be cautious and suggested that the spread of the variant first identified in India meant the final reopening in the UK in June could be delayed. “Together, we have reached another important milestone in our path out of lockdown, but this next step must be taken with extreme caution.” he said. There is growing concern about the B.1.617.2 variant, which British scientific advisers say will become the dominant variant in the country, more contagious than B.1.1.7. From May 17 in the UK, gatherings of up to 30 people will be allowed outdoors, two families will be allowed to meet indoors; cafes, bars and restaurants will reopen for indoor service; nursing home residents will be allowed five visitors; and the use of masks will no longer be compulsory in schools. Clare Smyth, head chef of Core restaurant in London, who won her third Michelin star in January, said: “It’s been a long time.” Restrictions will be eased to varying degrees in different regions. The UK death toll from COVID-19 is 127,679 – the highest in Europe and the fifth highest in the world, behind the US, Brazil, India and Mexico, according to Johns Hopkins University. The UK economy last year suffered its worst contraction in three centuries. The government spends hundreds of billions of pounds saving jobs and companies. France opens the door cautiously Meanwhile, with vaccination being accelerated and the number of cases falling, the French are waiting for the anti-epidemic restrictions to be eased on April 19. Groups of up to six people will be able to dine together as restaurants with outdoor spaces open at 50% capacity, people get access to museums, theaters and cinemas, while curfews are in will be rescheduled from 7pm to 9pm. Locations in France will be opened to operate at partial capacity. (Photo: The Connexion) This is the latest step in a gradual reopening plan in France, starting with allowing travel between regions from the beginning of May. Public health official Jerome Salomon told JDD Sunday: “Continued social contact is one of the factors that make up public health” However, some restaurant owners are complaining about serving limits, especially in light of the risk of rain in May. “Imagine you restarting the whole machine, creating a new menu, bringing all the staff back, but then you have to destroy everything and throw away your merchandise because it rains.” Chef Philippe Etchebest told JDD. Furthermore, less than half of restaurants across France have outdoor dining spaces, he said. Movie theaters can open at up to 35% capacity. Museums, theatres, zoos, libraries and all shops will be allowed to reopen at partial capacity. In France, 20.3 million people have received the first dose of the vaccine to date, and 8.8 million have received both doses. The government aims to hit the first 30 million doses by mid-June and is currently rescheduling injection appointments for people over 50 to anyone over 18. However, President Emmanuel Macron warned that if infections flare up again, the government could “emergency brake” on reopening.

Users are increasingly preferring digital banking and payment applications… Based on data from 2,000 top apps and datasets from Fintech, Game and E-Commerce applications, Adjust, a global app marketing analytics platform, has just released its annual report on app trends. mobile apps in 2021. In the context of complicated epidemic developments worldwide, the rate of users downloading and opening applications increased sharply compared to previous years and was higher than expected. The report highlights that mobile apps will continue to grow strongly in 2021. Installs are up 50% across all industries in 2020 and up 31% in the first quarter of 2021. Meanwhile, number Visits increased by 30% in 2020 and now have increased by 4.5%. USERS FAVOR TO FINTECH APP Analytics reports from trends in installs and sessions to time spent on apps and app re-installs… The numbers recorded in the past year show that fintech continues to “encroach” into the mobile segment. Many traditional banks have cooperated with fintechs and neobanks (new-style digital banks, no transaction offices, no branches, all operations take place in cyberspace) are increasingly widely accepted. cobble. The banking app recorded $3.6 billion in revenue. By mid-2020, digital banking accounted for 25% of all banking apps downloaded, up from just 1% in 2017. The data shows that each user on average installs about 2.5 financial apps. The level of global payments last year reached 1.390 billion USD and is expected to increase to 1.680 billion USD this year. The adoption rate of mobile payments has increased sharply globally, with the highest rate in China with more than 81%, followed by India (37.6%), Japan (25.3%) and Italy (21.1%)… From the fintech growth numbers, users are increasingly preferring payment applications and digital banking. Taken as a whole, fintech has the strongest increase in installs of all industries, growing 51% in 2020 compared to the previous year. In the first months of 2021 alone, the number of installs increased by 12% compared to the average of 2020. The number of sessions of fintech applications also skyrocketed in 2020, with 85% year-over-year. The number of sessions increased steadily throughout 2020, with the strongest increase in early October (22% higher than average) and late November (24% higher than average). The data also recorded a peak in mid-July, when 15% higher than the annual average. In 2021, up to the present time, the number of fintech application sessions is increasing by 35%. These growth numbers show that users are increasingly preferring payment applications and digital banking. SPEND A LOT OF TIME GAME AND UP ONLINE SHOPPING Along with fintech, the complicated development of the Covid-19 epidemic has partly reflected in the growth figures of the e-commerce and gaming industries. Games hit new milestones in 2020, especially in the hypercasual (lightweight, instant play and unlimited replay) segment, with installs up 43% versus 26% for games. other games (non-hypercasual games). The number of sessions for hypercasual games increased by 36%, while the number of sessions for non-hypercasual games increased by 27% in 2020. The mobile game market is valued at $165 billion by 2020. Asia remains a large market, accounting for $41 billion of the total market value. The number of mobile game players increased by 46% during the year, from 1.2 billion to 1.75 billion. Statistics show that mobile games are the main source of 51% of revenue and hypercasual games are predicted to reach $ 2.5 billion by 2021. The overall market is forecasted to reach nearly $220 billion by 2023, of which revenue from Google Play accounts for 19.6%, continuing to be higher than the App Store (13.2%). Although the number of installs of e-commerce applications increased slightly, only 6%, the number of sessions increased by 44%. This clearly reflects the fact that users interact and shop high with e-commerce applications. Last year was also considered a successful year for e-commerce with the number of transactions on the application increasing by 58%, in which the strongest increase was at the beginning of the year when the epidemic broke out. The survey showed that the number of goods purchased online has increased by 24%, while the quantity in stores has decreased by 7%. Research predicts that by the end of 2021, 17% of global transactions will be done online. The number of installs and sessions in early 2021 is also positive, up 11% and 14% respectively compared to the average of 2020. The number of visits increased the most in late February and early. March 2021, an increase of 23% over the same period last year and 76% compared to 2019. With the above information and analysis data from gaming, e-commerce and fintech applications, experts say that developers and marketers can better understand the audience and the reality of the economy. based on the app (app economy) to have a suitable investment, development and market domination strategy. Based on information about users’ in-app behavior, when and why they return to the app, marketers can create a comprehensive strategy that incorporates a personalized campaign and communication activities, thereby building brand trust… Users are increasingly preferring apps and this is the time to attract new users, experts emphasized. Mr. Paul H. Müller, co-founder and CEO at Adjust, said that for marketers, the potential to reach new users is unprecedentedly high, but competitive pressure is also “hottest” than ever, so it is necessary Boost your marketing strategy through automation and understand user in-app behavior.

British tourists can’t hide their excitement for a trip to the sunny and warm seas of southern Portugal. “It was amazing. The feeling was unbelievable. We saw the sun again, the beaches and the bars” – British tourist Matthew Bolden said eagerly. Visitor John Thomson said that what he wants to experience right here in Portugal is the beautiful golf courses, but still need to maintain distance and stay safe. The sunny beaches of Portugal are in the favorite destination of British tourists. Source: Reuters A representative of a hotel in Portugal said that the facility had reached 50% of room capacity on the first day and will continue to increase in the next two weeks: “We have prepared very carefully and welcome guests. More special than usual. The hotel has a strict cleaning and disinfection program and provides information on the rules in Portugal so that guests can enjoy their stay. The most important thing is that visitors are safe.” Portugal has eased restrictions set in place over the past four months, reopening restaurants and shopping. However, restaurants are still limited in capacity and must close at 10:30 pm. On the beaches, visitors still have to wear masks. Nightclubs and indoor alcohol bars remain closed. Data from the website Skyscanner shows that bookings to Portugal increased by 616% in about a week after Britain published its “green list” of safe countries to travel. The Portuguese tourism industry hopes that the return of British tourists – a market that contributed 3.2 billion euros in revenue to the Portuguese economy in 2019 – will create a necessary impetus for the sector accounting for 15% of the country’s GDP.

Specifically, Germany will provide $9.72 billion (€8 billion) for 62 projects it has selected to reduce emissions in the transportation, steel and chemical sectors. According to Economy Minister Peter Altmaier, Germany wants to be a global leader in hydrogen technology, noting that the just announced investment is a step towards making the German economy neutral. with carbon. Mr. Altmaier said that, through the use of hydrogen, Germany could annually cut several million tons of carbon dioxide (CO2) emissions from the steel and chemical industries. Germany has ambitions to lead the world in green hydrogen production. Photo: DW. Transport Minister Andreas Scheuer added: “We are making Germany a hydrogen country. A total of 95% of road traffic still depends on fossil fuels, so Germany needs transport based on renewable energy… We have to push and want to accelerate the transition to mobility. climate-friendly transition”. The German Energy Ministry will oversee 50 of these 62 projects, including plans for more than 2 gigawatts (GW) of electrolytic capacity to produce green hydrogen. This is 40% of the 5 GW target in Germany’s national hydrogen strategy by 2030. The Ministry of Transport will finance the remaining 12 projects in the transport sector. These activities will include the development and production of fuel cell systems and vehicles, including cars, trucks and buses… Hydrogen has gained a lot of momentum in recent years. It is appearing in almost every major oil company strategy and can be seen in many government plans for industrial decarbonisation. Governments, international organizations and oil and gas companies say that blue hydrogen (hydrogen plus carbon is collected and stored) and blue hydrogen (hydrogen produced by electrolysis of water using electricity from energy) solar or wind) could be the key to helping industries decarbonize waste in the energy transition.

Cyprus requires travelers to have a negative Covid-19 test valid 72 hours prior to departure to the country. (Photo: AP) The world’s tourism-driven economy destinations are racing to open their borders and revive economies ravaged by the pandemic. The large-scale deployment of Covid-19 vaccination has given many places new confidence to welcome tourists back. But the moment is still really difficult. The World Travel and Tourism Council (WTTC) estimates that the global tourism industry lost nearly $4.5 trillion and lost 62 million jobs last year. The world aviation industry alone lost $126 billion last year and will lose another $48 billion this year. However, inconsistent regulations to reopen international travel globally could make it difficult for anyone planning to travel this summer. For example, in Cyprus there are restrictions on places considered higher risk, requiring arriving passengers to take a negative PCR test for Covid-19 valid 72 hours before departure and to do so. new test upon arrival. Travelers must also self-isolate until they receive their Covid-19 test results. Europe Europe is opening up gradually. Last week, the ambassadors of the European Union (EU) agreed to allow visitors who have had a full dose of the Covid-19 vaccine, one of the vaccines licensed by the European Medicines Agency or come from places located in the UK. on the EU safety list. But this is a non-binding mechanism, each country can still apply its own rules and it is not clear exactly when this mechanism will come into effect. Spain’s Prime Minister Pedro Sanchez on Friday announced that from the 24th, the country will allow fully vaccinated tourists from the UK and Japan to enter. Visitors from other countries will be welcome back to Spain from June 7. Restaurants and hotels in Greece are preparing to welcome international guests back (Photo: AP) Tourists have started showing up in Greece after authorities this month decided to accept vaccination and test certificates from the EU and 21 other countries. On the Greek island of Naxos, business owners have begun pulling furniture out of storage, cleaning stores and reopening once-stuck seaside pubs. “People here are very optimistic and in fact there have been a lot of bookings in the last two weeks,” said Naxos Mayor Dimitris Lianos, optimistic that visitors will return significantly even by the end of the year. Croatia has also reopened – one of the few places in Europe that Americans can visit this summer. Delta Air Lines and United Airlines have announced direct flights from New York to Dubrovnik this summer. Asia The Covid-19 epidemic is breaking out again in many parts of Asia, causing some countries and territories to pause cautious reopening steps. Hong Kong (China) and Singapore have postponed the “travel bubble” without quarantine for the second time after a new outbreak. Both Singapore and Hong Kong (China) have extended the mandatory quarantine period for many unvaccinated travelers. China has set up Covid-19 control points at toll booths, airports and train stations in Liaoning province, where new cases arose this month – travelers must present test results latest negative for Covid-19. Thailand may have to postpone its plan to welcome international visitors to Phuket this July (Photo: TheBangkokPost) Thailand, which closed its borders to control the outbreak for most of last year, is slowly starting to allow some foreign visitors to enter in the fall under tight control. However, the strong outbreak from the end of March until now has shown no sign of abating, prompting the country to re-impose strong measures such as closing entertainment venues and banning outdoor dining. The Phuket provincial government announced that the plan to reopen to international tourists who have been fully vaccinated from July 1 may not be able to go as planned if the daily number of Covid-19 cases does not exist. down to single digits. Middle East and Africa At the height of the pandemic last year, the United Arab Emirates (UAE) closed its borders and closed its airports to tourists. The capital, Abu Dhabi, still has strict measures including mandatory quarantine even for fully vaccinated citizens returning from certain countries. But the UAE’s largest city, Dubai, has been open to tourists since July last year with a few more restrictive regulations. Dubai – home to the world’s busiest airport for international travel – is drawing visitors from Europe to its beaches, bars, hotel pools, restaurants, cinemas, parks. leisure and spa. However, Dubai still applies social distancing regulations and requires mask wearing. Egypt is trying to attract more foreign tourists Meanwhile, the largest Gulf state Saudi Arabia does not allow tourists to enter the country. Saudi nationals from this month have been allowed to travel abroad if they have been vaccinated against Covid-19 or have recovered from Covid-19. Egypt is trying to attract more foreign tourists even as it faces a new wave of disease outbreaks. The country does not impose new restrictions on beaches, cafes and restaurants in hotels catering to tourists. Egypt even lowered the price of the tourist visa fee, although it still requires a negative test result for Covid-19 before entering. Latin America and the Caribbean The Caribbean region is largely dependent on tourism. In the last year, visitors to the area have dropped by two-thirds to levels not seen since the 1980s. Bermuda has been one of the hardest hit, with an 84% drop in arrivals. Some islands, including Bonaire, Martinique and Montserrat, remain closed to most countries. Elsewhere, return travelers are limited with epidemic prevention regulations including electronic trace management. Several islands, including St. Vincent and the Grenadines, created “bubble resorts” to attract tourists. Cruise lines are planning to bring tourists from the US to Caribbean ports this summer. Mexico remains open to international visitors (Image: AP) Mexico does not apply no-fly regulations, does not require travelers to be tested or quarantined upon arrival in the country. Therefore, although the number of visitors decreased, it remained stable, especially in coastal destinations. But, this has increased the rate of Covid-19 infection, forcing authorities in some places to impose restrictions in public places. USA and Canada The US currently still bans most travelers from Europe, China, India, Brazil and elsewhere. Guests, including US citizens traveling on international flights, must have a negative Covid-19 test before boarding the flight. The US State Department continues to advise citizens not to make unnecessary trips abroad. The border between the US and Canada remains closed to non-essential travel until June 21. In the US, domestic aviation has returned to near 2019 levels, but the smokeless industry is slowly showing patience with restrictive regulations. “As we’re seeing vaccination rates increase and Covid-19 incidence decline, from an economic standpoint, reopening,” said Tori Emerson Barnes, executive vice president of the American Travel Association. International travel is extremely important.”

Mobile Money serves up to 90% of small transactions Faced with this shortcoming, the Ministry of Information and Communications believes that Mobile Money will be an effective solution to add to the means of payment for Vietnamese people. If Mobile Money service is licensed to telecommunications companies, the coverage of e-payment services will quickly reach 100% of the population. This will promote e-commerce, agricultural commodity exchanges, especially in remote areas, promote online public services, promote Fintech companies, innovative startups, help economic growth. All countries that allow Mobile Money generate economic growth of up to 0.5%. According to calculations by major service providers, Mobile Money will probably serve up to 90% of small transactions. This is an opportunity for telecommunications companies to promote digital transformation of customers. Because, users can easily buy online goods services as well as digital content services in the telecommunications company’s ecosystem. On the contrary, this is also the driving force for telecommunications companies to digitally transform. This will bring great benefits to society to move towards a digital economy and digital society in the future. Commenting on this issue, Mr. Vu Hoang Lien, Chairman of Vietnam Internet Association, said that Mobile Money service will bring many benefits to consumers and society and promote non-cash payments. However, the Mobile Money service will also impact payment intermediary service providers as the service will share the market, customers and business algorithms. However, with the trend of technology, we need to further improve the payment environment to be a driving force for development. “If licensed soon, Mobile Money will be the Government’s first sandbox to create breakthroughs and create strong momentum for new technologies and new services to be introduced to society. If we look at the services If new services bring benefits to the people and the country, it will be very easy to put these sandboxes as a driving force for development. Whether the policy admits new things and new components to the market or does it still keep its own territory for the old ones Sandbox will create a breakthrough legal environment that dares to accept change, accept new things create new vitality of society in the trend of digital transformation,” said Mr. Vu Hoang Lien. Mobile Money: an opportunity for telecom companies The Chairman of Vietnam Internet Association emphasized that the opportunity for telecommunications companies for Mobile Money service is very clear when they have a customer base because most Vietnamese people use mobile phones. The telecommunications company’s services are also the foundation for connecting many essential services of society, so it will open up great opportunities for the development of Mobile Money services. Three major service providers, Viettel, VNPT, and MobiFone have also applied for permission to provide this service. In this race, the company that solves the management problem to bring benefits to customers will prevail. From Mr. Lien’s point of view, Viettel is slightly better than other service providers because of its large customer base and good management. However, telecommunications companies can take advantage of their strengths to attract customers, so this will be a hot market in the near future. Currently, the Government has agreed to test the Mobile Money service for 2 years, but service providers are still waiting for a license. Commenting on this delay, Mr. Mai Liem Truc, former Deputy Minister of Transport and Communications (now the Ministry of Information and Communications) said that Mobile Money was delayed by about 2 years. If this service is licensed early, it will bring many benefits to society and the economy. Mr. Truc also emphasized, Sandbox is the direction for the Government to vigorously test new technology services that bring benefits to the people and the country. “Sandbox” is a pilot institutional framework, allowing a small number of businesses, to test new technologies and new business models in a practical environment but with a defined scope and time, under the supervision of regulators and have appropriate hedging plans in place to prevent the consequences of failure without having a major impact on the national financial system. Following the government’s direction, the State Bank is currently building regulatory sandboxes for financial and banking services based on information technology, including Mobile Money.

More than half of adults in New York have had at least one dose of the vaccine. The number of Covid-19 cases and hospitalizations is plummeting. Museums reopen at 50% capacity, cinemas at 33%. Finally, people can sit at the bar to enjoy their favorite drink. The subway will operate 24/7 from May 17, New York Governor Andrew Cuomo said. Parks and outdoor areas get crowded. People are starting to take off their masks in public according to the guidelines of the US Centers for Disease Control (CDC). Rent seems to be stabilizing again. More and more tourists are booking outings. Mayor Bill de Blasio expects 80,000 workers to return to the office on May 4 and has set a target for the city to fully reopen by July 1. “We see a promising return. It feels great,” he said. People enjoy the warm weather in Central Park in New York. Photo: Ed Jones/AP. Optimism about the future While thousands of New Yorkers are suffering long-term health and economic impacts, and most offices are still empty due to the epidemic, things are returning to normal. This makes people optimistic about the future of the city – which suffered the hardest and earliest battle with Covid-19 in the US. After several months of scarcity and difficulty booking vaccination appointments, it is now easy for anyone to do so. By far, it’s the fun things that come back the fastest and most powerful. Over the past few months, Christina Hansen (40), a New York City coach driver for the past nine years, has picked up tourists from California, Texas, Florida and North Carolina. “There is still less work than before, but we are fine. New York is not dead and will never be dead,” Hansen said. MacDougal Street, with its many restaurants and bars in New York, is once again bustling with people. Christina Hansen (right) is delighted to welcome guests back. Photo: Paul Frangipane/Bloomberg. Tickets to next week’s Frieze New York Art Fair, which will bring together collectors from across the United States, are almost sold out. At the Reservoir bar and restaurant in Greenwich Village, locals have to wait about 30 minutes for a table. This place reopened in February, after being closed for almost a year. Another key factor to New York’s return is tourism. The city expects domestic tourism to recover in 2023. Total visitors will surpass the pre-pandemic level of 66.6 million/year by 2024. Devin Cooper (25 years old, living in Los Angeles) immediately booked a flight to New York when he learned that his company allowed employees to travel without being quarantined. He plans to come here in mid-May, when vaccinations are more complete. While it may not be possible to experience some of the city’s famous activities, Cooper says there’s still a lot to see and do. “New York doesn’t seem to have died. This time, I can’t watch Broadway shows and dine outside of restaurants, but it’s a small price to pay for safety during the pandemic,” he said. Slowly recovering Even as most of the art, dining and entertainment life that characterizes New York reopens, the future of work culture, as well as the fate of millions of square feet of office space, remains uncertain. . The subways are far from full, although they will reopen 24/7 hours from May 17, NBC New York news. Mayor Bill de Blasio said office workers would be “a key indicator” of New York City’s long-term return. Some are slowly returning to the workplace. New York will allow offices to increase capacity from 50% to 75% from May 15. Mohammad Naveed, 47, runs a coffee cart near Wall Street. This used to be a prime location that helped him sell about 500 cups of coffee a day. Now, he only sells about 30 cups. “This place is deserted, there are no people,” Naveed explained. During the pandemic, one store after another seemed to be empty. The sector is recovering fast, but it is still far behind. However, between May 2020 and February 2021, 67% of retail jobs, including restaurants, returned to New York state, according to the New York state executive’s office. Coffee carts near Wall Street struggled as offices closed. Photo: Paul Frangipane/Bloomberg. In the real estate sector, the rental market in the Manhattan area shows an early stage of recovery. According to real estate data firm UrbanDigs, new active listings have dropped, monthly leases are increasing, and prices appear to have bottomed out. The number of apartments for rent in New York City is more than double what it was before the pandemic, while maintaining low prices, data from real estate firm StreetEasy shows. StreetEasy economist Nancy Wu said: “The increase in remote work has changed the minds of many renters. Instead of seriously looking for apartments in Manhattan with a short drive to the office, they can afford to explore a host of other neighborhoods in boroughs that might not have been considered before.” Donovan Davis, 24, of Staten Island, waited in line in front of the Supreme store on Bowery Street for about 15 minutes to view the new spring collection and purchase the backpack. Davis was recently vaccinated. Stuck at home for the past year, he didn’t really want to shop until now. “The weather is warming up. I finally started going out and shopping.” Donovan Davis outside the Supreme store in New York on April 30. He only goes out shopping when he is vaccinated. Photo: Misyrlena Egkolfopoulou/Bloomberg. New Yorkers used to not appreciate the crowdedness of the city. The subway isn’t as busy as it used to be. But David felt the city was still alive and slowly returning to normal. “Every time I go out, it’s nice to see that there are still so many people there,” he said.

Research on recycling solar batteries contributes to boosting the weekly economy in Vietnam (Source: Internet). Solar power is an inevitable trend According to Decision No. 2068/QD-TTg issued by the Prime Minister on November 25, 2015 approving Vietnam’s renewable energy development strategy to 2030, with a vision to 2050, electricity produced from Solar power will reach about 35.4 billion kWh by 2030 and increase to 210 billion kWh by 2050. According to the Institute of Energy (Ministry of Industry and Trade), on average, a solar power source with a capacity of 1 MWp will generate nearly 70 tons of waste after about 20-25 years from the date the source starts generating electricity. Thus, according to forecasts, the amount of waste from these solar panels can reach millions of tons. Nguyen Van Hoi – Director of the Institute for Industry and Trade Policy and Strategy Research (Ministry of Industry and Trade) said that solar power is an inevitable trend of Vietnam’s energy industry, bringing many benefits to economic development. – society of the country and play an important role in reducing greenhouse gas emissions. In Resolution No. 55-NQ/TW on orientation of Vietnam’s national energy development strategy to 2030, with a vision to 2045, it is clear that it is necessary to develop synchronously, rationally and diversify types of energy. quality, prioritizing the exploitation, exhaustive and efficient use of renewable energy, new energy and clean energy; Use energy economically, efficiently, and protect the environment. Mr. Hoi said that the promotion of renewable energy development should be placed in the overall context of solutions, especially in the treatment of waste from the development of this energy source. Solar battery recycling solution Talking about the experience of processing and recycling solar panels of countries around the world, Mr. Dao Tran Nhan – Economic and Trade Advisory Association (VICETA) said, the Korean Government has issued new law “Extended Manufacturer Liability Program to take effect from 2023”. Accordingly, the Korean Government requires domestic manufacturers and importers to pay a recycling fee, which is expected to be US$1.04/kg. Meanwhile, Switzerland takes advantage of materials and components that are still valid to use and destroys those that are no longer worth using, using solar panels as a source of raw materials for making electric vehicle batteries (such as automobiles). , motorcycle). Proposing solutions for processing and recycling solar panels in Vietnam, Mr. Dao Tran Nhan suggested: For the group of policy solutions, it is necessary to develop regulations on downtime and storage. or recycle solar panels and have clear binding regulations between the parties. For the group of technological solutions, it is necessary to develop specific standards and regulations for each type of battery and develop a regulation to monitor and control the quality of solar cells. In addition, it is necessary to have a mechanism to encourage recycling as well as to develop sanctions to punish violations according to regulations. Dr. Le Huy Khoi – Institute for Strategic and Policy Studies of Industry and Trade also offered some solutions. Firstly, it is necessary to strengthen the inspection, examination and supervision of the collection and treatment of expired batteries. Second, the environmental protection responsibilities of owners of production, business and service establishments must “collect, classify, store, treat and dispose of solid waste in accordance with the law”. Third, research, develop and soon form a construction environment management department to regulate and supervise the final management of solar panels. Fourth, develop mechanisms and introduce policies to encourage investment in building solar panel recycling plants in Vietnam. Fifth, there should be financial and credit mechanisms and policies to support businesses in a practical way. Sixth, strengthen propaganda on the awareness of using, collecting and recycling solar cells effectively. Experts agree that, for Vietnam, the volume of waste from solar panels is quite small compared to the leading countries, however, to ensure sustainable development, the State needs to study soon to have appropriate policy and mechanism related to the collection and treatment of waste from solar cells. From a circular economy perspective, this can become an opportunity for Vietnam to develop the solar cell recycling industry in the future.

The new initiative aims to attract tourists to revitalize the Maldives economy, which largely depends on tourism. (Source: MTN) Maldives is an archipelagic country in South Asia, famous for its tropical climate and pristine waters, and depends heavily on tourism. About 67% of the country’s gross domestic product (GDP) is sourced directly and indirectly from the tourism industry. Currently, visitors to the Maldives must provide a negative PCR test for Covid-19 and proof of hotel reservation in order to be admitted. Maldives Tourism Minister Abdulla Mausoom recently said that the Maldives Health Protection Agency is about to announce the lifting of the entry restrictions for tourists who have completed the vaccination. In addition, the country is preparing to implement the 3V strategy – “Visit, Vaccinate, Vacation” to attract and facilitate international tourists. However, the Maldives has not decided on the time of implementing this program. The government will give priority to the people first and foremost, ensuring that all are vaccinated with 2 doses of Covid-19 vaccine. When that process is completed, the country will be ready to vaccinate foreign visitors to visit and travel. To date, 53% of the island nation’s approximately 530,000 residents have received the first shot of the Covid-19 vaccine, which includes 90% of frontline travel workers. It is not clear if tourists will have to pay for the vaccine, but the leader said vaccine supplies should not be an issue for the Maldives. The island nation receives vaccine funding from India, China and the World Health Organization (WHO) COVAX program; In addition, they also ordered more vaccines from Singapore. This year, the Maldives has welcomed 350,000 visitors, mainly visitors from neighboring country India. In addition, a large number of visitors come here under the “workation” model, with longer stays to work remotely. Minister Mausoom said these long-stay guests will also receive two doses of the vaccine. The target for the whole year 2021 of the Maldives is to welcome 1.5 million visitors and 10 million hotel nights. (according to VOV / CNBC)

Leaders of Hanoi Urban Environment Company Limited and Vietnam Packaging Recycling Union participated in the signing ceremony. Accordingly, the two sides will coordinate to develop specific plans to promote the sorting model at source, collection, transportation and treatment of recyclable waste in Hanoi city; Develop and implement a communication plan: Design, train, communicate to raise awareness, and guide the method of separating waste at source, thereby changing habits and behaviors for the community in the sorting and collecting recycled waste; Build network connection between collection and transport units – Recycling units in promoting a circular economy. Research and propose to policy makers and regulators to create incentives and favorable market conditions for recycled waste. Mr. Jahanzeb Khan – Vice Chairman of Vietnam Packaging Recycling Alliance (Pro Vietnam) said that through this cooperation, Pro Vietnam will carry out a project to raise public awareness, from there creating behavioral changes in the use and management of plastic waste. “Pro Vietnam will support Hanoi Urban Environment Company Limited to jointly carry out activities to increase the rate of collection and recycling of plastic, packaging and other recyclable waste. At the same time, identify, develop and implement initiatives on concerns and benefits in local plastic waste management, especially in recirculating economic projects ”- Mr. Jahanzeb Khan. It is known that Pro Vietnam includes members who are leading FDI and Vietnam companies in the field of consumer goods, packaging production, retail and import with the same desire to contribute to a green Vietnam, Clean, beautiful by promoting the circular economic model by making product packaging collection and recycling work in a more accessible and sustainable way.

Signing of a cooperation agreement on waste collection and recycling. Accordingly, URENCO and PRO Vietnam cooperate to develop a specific plan to promote the model of sorting at source, collecting, transporting and treating recyclable waste in Hanoi; building and implementing communication plans: Designing, training, communicating to raise awareness, guide the method of garbage classification at source; thereby changing the habits and behaviors for the community in the classification and collection of recycled waste. At the same time, the two sides build a network to connect between collection and transport units – recycling units in promoting a circular economy … PRO Vietnam currently has 18 members who are the leading brand owners and packaging manufacturers, importers, distributors and retailers in the food and beverage industry. Speaking at the signing ceremony, Mr. Zahanzeb Khan, Vice President of PRO Vietnam shared: “Through this cooperation, we wish to create a connection between PRO Vietnam and members of the Urban Environment Association. Vietnam market and industrial park in implementing environmental protection activities, for a green – clean – beautiful Vietnam; at the same time, making packaging recycling more accessible and sustainable, towards the goal All packages of PRO Vietnam members put on the market are collected for recycling. According to URENCO’s statistics on the results of the implementation of waste management, classification and collection at sources deployed in 4 districts (Hoan Kiem, Ba Dinh, Dong Da, Hai Ba Trung) in Hanoi, from mid-August Until now, URENCO has purchased more than 150 tons of recycled waste. Of these, plastic accounts for 35%, paper 55% and 10% are metals.

For the first time, launching special economy class on the routes to Con Dao and Dien Bien. Photo: Vietnam Airlines With premium economy class, passengers will have their own check-in counter and priority tag baggage. Passengers will receive a service voucher at the airport restaurant before boarding time. Notably, before departure, ordinary passengers are given priority to board the train after and after landing, and have priority to get off the train first, which saves waiting time. On the flight, passengers are served snacks and drinks. Aircraft are fitted with separating curtains at the end of the aircraft to increase the sense of privacy and comfort for special economy passengers. Lotusmiles members of Vietnam Airlines enjoy a mileage factor of up to 120 – 130%, much higher than normal class, from only 10 – 100%. These are all additional benefits that outweigh the regular fare class, providing a new and engaging experience for passengers. Currently, Vietnam Airlines operates 80 flights / week between the city. Ho Chi Minh – Con Dao, 5 flights / week between Can Tho – Con Dao and 21 flights / week between Hanoi – Dien Bien. Besides transporting tourists, these are the routes of Vietnam Airline to ensure traffic connection, socio-economic development in mountainous and island areas. Flights are being operated by VASCO, a member airline of Vietnam Airlines./.

(Artwork by: VNA) Up to now, Vietnam Airlines is the first and only airline operating a special economy class on these routes. With premium economy class, passengers will have their own check-in counter and priority tag baggage. Passengers will receive a service voucher at the airport restaurant before boarding time. Notably, before departure, ordinary passengers are given priority to board the train after and after landing, and have priority to get off the train first, which saves waiting time. On the flight, passengers are served snacks and drinks. Aircraft are fitted with separation curtains at the end of the aircraft to increase the sense of privacy and comfort for special Economy passengers. Lotusmiles members of Vietnam Airlines enjoy a mileage factor of up to 120% – 130%, much higher than the normal class of only 10% – 100%. Currently, Vietnam Airlines operates 80 flights / week between the city. Ho Chi Minh – Con Dao, 5 flights / week between Can Tho – Con Dao and 21 flights / week between Hanoi – Dien Bien. Flights are operated by VASCO, a member airline of Vietnam Airlines. In addition to transporting tourists, these are also Vietnam Airlines routes to ensure traffic connection, socio-economic development of mountainous and island areas.

The porter is sending the boxes of vaccines to Jumla (Nepal). Photo source: UNICEF The corona virus has spread to every continent, now infecting at least 128 million people worldwide. How widespread the epidemic was, devastating economies there. Many people in Africa, Asia and Latin America are waiting to be vaccinated. So far, nearly 600 million doses of the vaccine have been used around the world, but two-thirds of them are in just six countries. About 60% of Israelis have been vaccinated once, 50% of Britons have been vaccinated, and 1 out of 10 Germans get it. In Namibia, where a population of more than 2 million people, less than 1500 people are vaccinated. Aside from Namibia, no African country has received the vaccine. To prevent that, the COVAX project was born. WHO started COVAX a year ago, and the Vaccine Coalition (GAVI) and the Alliance for Epidemic Preparation Innovation (CEPI) are participating in nearly every country in the world. The goal is to have the 92 poorest members receive as many vaccines as the 98 richest members. It is expected that by the end of 2021, each country will receive the vaccine for 1/5 of the population. UNICEF wants vaccines to reach their destination, making them available to people regardless of race or wealth. So how can COVAX achieve its ambitious goals? Project 2 billion doses of vaccine to reach poor countries Mr. Benjamin Schreiber, COVAX Coordinator in Connecticut (USA) affirmed that the biggest challenge for countries is “preparing to vaccinate in a short time”. COVAX’s stated goal is to ship 2 billion doses of vaccine by the end of 2021, equivalent to 850 tons of vaccine / month and 1 billion syringes. Thousands of vaccine containers will reach the remotest corners of the earth by means of vehicles: Jeeps, boats, drones, and rickshaws. Countries receiving vaccine aid are diverse, some with developing economies, some with underdevelopment. Mr. Benjamin Schreiber, COVAX Coordinator in Connecticut (USA). Photo source: Katharina Poblotzki / Der Spiegel. Countries were required to send documents to UNICEF on how they plan to manage vaccine aid logistics: Which part of the population needs the vaccine most; Vaccine distribution plans from the airport to the rest of the country. On February 24, 2021, the first COVAX shipment landed in Ghana. By the end of March 2021, UNICEF had shipped 20 million doses of the vaccine to 47 countries. The strength of manufacturers The Indian Serum Institute (SII) is headquartered in Pune (West India), the world’s largest vaccine factory with 2.4 million doses of vaccine per day. SII is the creation of the vaccine that is being used to reach many parts of the world and its cost cannot be replicated right now. Of the more than 39 million doses of vaccine shipped by COVAX to date, 28 million have come from the Pune laboratories. India is a major supplier of COVAX. Currently, the country mainly produces vaccine AstraZeneca. But at the end of March 2021, the Indian government decided to stop the export of vaccines to a minimum when the number of new corona virus infections increased rapidly in this country. The New Delhi government’s decision to stockpile vaccines means COVAX will delay delivery of 90 million doses of vaccine to 63 receiving countries. There is currently no alternative manufacturing solution outside of India. The plane was carrying carton boxes containing COVID-19 vaccine at Mumbai airport in Maharashtra state (India) on 24 February 2021. Photo source: UNICEF / UN 0421823 / COVAX. Mr. Mounir Bouazar (head of the logistics division of COVAX in Copenhagen) has been preparing for 3-4 months for the first shipments of vaccines. By the end of 2020, Bouazar is certain that half a billion syringes will be distributed to four UNICEF warehouses in Copenhagen, Dubai, Panama and Shanghai. Now COVAX will deliver thousands of vaccines to their destination every day. But a pandemic makes it more difficult, with few or no flights due to limited travel. No flights to East Timor or the Pacific island nation have been requested by UNICEF. Vaccines and syringes moved to Yemen had to go to Nairobi, where Bouazar rented a small plane to carry vaccines and syringes. Bouazar hopes to ship more vaccines by mid-2021. There is an idea to make Bouazar’s work smoother right now: Suspend intellectual property rights to vaccines in a limited way during a pandemic. India and South Africa have filed requests to the World Trade Organization (WTO) to suspend the COVID-19 vaccine and drug patents, which are supported by 100 countries. Then other companies can also make vaccines. COVAX coordinator Benjamin Schreiber is deploying COVID-19 vaccine to the poorest and most isolated countries in the world. Connecting with him are 2 colleagues of UNICEF branches in Panama and Haiti – 2 countries with immunization delays. In Haiti, the vaccination team is ready, but problems are hampering vaccine shipments. Fuel in Haiti is quite expensive, roads are poor … Schreiber persistently connects with people in Haiti every day. Nguyen Thanh Hai ( (According to spiegel, April 24, 2021) )

Despite increased lockdown and persistently high incidence rates, the federal government expects higher economic growth this year than before. In his spring projection presented in the morning, Federal Minister of Economics Peter Altmaier is now assuming an increase in gross domestic product (GDP) of 3.5 percent. In January he had estimated a mere 3.0 percent. An increase of 3.6 percent is expected for 2022. “We will have regained our old strengths by 2022 at the latest,” said Altmaier. “Our economy is strong, robust and ready for a new start.” Last year it fell by 4.9 percent because of the Corona crisis.

Export is the mainstay

Nevertheless, Germany lags behind the USA and most of its European neighbors. The US economy is likely to grow by 6.5 percent this year, while France, Italy and Spain each expect an increase of between five and six percent. The recovery in Germany is said to be supported primarily by exports. These are expected to grow by 9.2 percent in view of the rapid recovery in important sales markets such as the USA and China. As a result, the ministry expects higher investments. “Catch-up effects also play a role, as investments have been postponed because of the crisis,” it said. The construction boom is also likely to continue, “due to the low interest rate environment and high demand for housing”.

Export expectations at a ten-year high

The hopes for the export industry in particular are justified. German exporters are currently as optimistic as they were last in January 2011. The barometer for industry’s export expectations climbed by 0.8 to 24.6 points in April, according to a recent survey by the Munich Ifo Institute. “In many countries, industry is hardly affected by the pandemic,” said Ifo President Clemens Fuest. “The demand for German export goods will benefit significantly from this.” The upswing in the USA and China, the most important export customers, is providing a boost. According to the ifo data, the outlook has improved across almost all branches of industry. In the electrical industry, expectations are very optimistic. In mechanical engineering, too, the indicator rose to its highest value in more than a decade; the chemical industry is also on the upswing. “The only problem children are manufacturers of clothing and other vehicle construction,” it said. “You are expecting a decline in foreign sales.”

The domestic economy is only slowly gaining momentum

The gradual easing of the corona restrictions should also gradually give the domestic economy and private consumer spending a boost. After the difficult start to the year, the labor market is expected to gradually pick up. Nevertheless, there is likely to be a decrease in the number of people in employment by 60,000 in 2021. An increase in employment of 290,000 is to follow in 2022. Altmaier’s optimism about the economy is shared by Finance Minister Olaf Scholz. “The third corona wave is currently requiring all of us to make another great effort,” said the SPD candidate for chancellor. “Nevertheless, it is clear: things are slowly improving and the aid policy is working.” The council of experts for assessing macroeconomic developments, colloquially known as the “economic methods”, is significantly more pessimistic than the government. The committee had only revised its forecast downwards two weeks ago and is only expecting an increase in gross domestic product of 3.1 percent for 2021. In the autumn, the economic wise men had assumed 3.7 percent.

From Axel John, SWR After more than a year of the Covid crisis, much of what was taken for granted in Germany is crumbling. In view of the problems with vaccination orders and the slow pace of vaccination, politicians are fighting against a loss of confidence. Public administration is seen by many as inefficient in times of crisis. And the pandemic has also brought structural problems to light in the economy. Doubts are mounting in many places behind the appearance of an actually self-confident industrial nation.

“We have become full and lazy”

The company is one of the hidden champions in Germany: deep in the west of Rhineland-Palatinate, Bernhard Clemens runs his family business, which produces special equipment for wine and fruit growing and exports it all over the world. His company is based in the unadorned industrial area II in Wittlich. Berlin and the federal government are very far away here. That fits with Clemens’ feeling towards politics. The longer the corona crisis lasts, the more worried the entrepreneur – about the future of the location.

From the point of view of the entrepreneur Bernhard Clemens (left), the Corona crisis has exposed many fundamental problems. Image: Axel John “We overestimated ourselves during the upswing. We have become full and lazy,” says Clemens. “The pandemic revealed the deficits of the Federal Republic in the economy as well. I don’t see any suggestions for improvement, only the management of the deficiencies. And that goes on and on.” His company got through the crisis without any losses. He didn’t even have to register short-time work. Only a few employees went into quarantine as a precaution. Nevertheless, the medium-sized company has many points of criticism. “What about a standardized, rapid exchange of information between the health authorities? Can federalism continue in an emergency? Why is digital teaching not running in schools? There are many fundamental problems behind this.” Even after more than a year, politicians still do not provide any answers. Clemens also heard this from many other entrepreneurs in the region.

Fax number instead of email address

Jens Pohlmann walks five kilometers further through the production halls of his company ProContur. Pohlmann points to huge production machines that manufacture sheet metal and plastic products. “After a crisis, we turned things around together. After a ten percent increase in the past year, it could even be 30 percent in 2021. But the increasing weaknesses of the location are driving me. Why don’t politics and administration finally tackle?” Asks the company boss. The economic consequences of Corona are a wake-up call for him. He initially fully understood the first lockdown in the spring of last year. “We did everything on our own: home office, working remotely, quick tests at our own expense. But to this day I still don’t see any substantial help or a well-thought-out political plan.” Instead, he was asked about the number of employees in the home office in a letter from the authorities. “There wasn’t even an email address given, but a fax number,” complains Pohlmann. “How are we supposed to tackle deficits such as a lack of digitization, a decaying infrastructure or the growing weaknesses in the education system? We have been seeing this for a year now. So we will fall behind and miss the boat internationally.”

Progress in vaccination helps the economy

The impressions from the Eifel are supported by several international studies. The Mannheim research institute ZEW has come to the conclusion that Germany as a location for family businesses has been pushed back further and further over the years. Compared to competitors from the USA or the Netherlands, the Federal Republic is now clearly lagging behind. Rising electricity costs, high taxes and poor infrastructure are criticized. The latest growth report by the International Monetary Fund (IMF) also shows disappointing results for Germany. The Federal Government repeatedly declares that the Federal Republic is coming through the crisis economically well. According to the IMF study, Germany is at the bottom of the list with a forecast growth of 3.6 percent for this year. Almost all other industrial nations achieve significantly higher values. One reason: the better the vaccination progress in the countries concerned, the better the economy develops.

“Missed future investments”

The economist Daniel Stelter deals with questions of location policy and the economic consequences of the pandemic. After his book “Coronomics” from last year, the economic expert has now published “A dream of a country”. In it, Stelter proposes far-reaching reform steps to get out of the Corona crisis. The former management consultant can understand the lawsuits of the two medium-sized companies from the Eifel. “The boom of the past few years was partly due to the cheap money from the European Central Bank. This also meant that German exports became significantly cheaper. The location, however, became increasingly unattractive,” Stelter analyzes. Companies would therefore have invested less. Productivity has stagnated. The state has also invested too little money in streets, schools or in the cellular network. “During this time, investments in the future were missed. This is another reason why we no longer have any sweeping innovations. We still live today on industries from the imperial era.” At the same time, there are great challenges ahead of Germany. The so important auto industry is facing a change – the exit is open. In addition, demographic change will change society in the next few years. Many skilled workers retire and are then absent from the job market. This is likely to further slow down economic development. All of these are additional burdens, according to Stelter. And what does that mean for the future federal government and also for society? “There is a lot of need for action. After the very expensive Corona programs, the rude awakening will come in two years at the latest,” predicts Stelter. “In my opinion, it is questionable whether politicians will have the strength and the courage to tackle the necessary structural reforms in the upcoming distribution struggles.”

Waiting for the “boom”

In Wittlich, company boss Bernhard Clemens is now sitting in his company’s office. He’s on the phone with a business friend in the USA. After the conversation, he hangs up in exasperation and shakes his head. “So far we have been seen as organizational world champions everywhere. I’ve just been asked again whether the coverage of the corona vaccination campaign in this country is fake news. Unfortunately, I couldn’t deny that. We have already lost our reputation.” Nothing remains of the announced “boom” of the Federal Minister of Finance in the reality of the corporate world. The location still has every chance, according to Clemens. “You have seen how quickly a country can switch out of the crisis – the USA with Biden. When are we going to switch?”

In Germany, business sentiment improved slightly in April, but the data from the Ifo Business Climate is not a real step forward: the index rose by 0.2 points compared to the previous month to 96.8 points, according to the Munich institute. After all, this is the highest value since June 2019. However, experts had expected a stronger increase to an average of 97.8 points. Nevertheless, the third rise in the leading indicator in a row is usually interpreted by economists as an economic turning point. The data also shows that the companies rated their current business situation better. The prospect of the coming six months, however, has clouded over.

Ifo Business Climate Index April 2021

The effect of the third wave

“The third wave of infections and bottlenecks in preliminary products are dampening the recovery of the German economy,” commented Ifo President Clemens Fuest. As in the past few weeks, the results vary depending on the sector. Things are still going very well for the industry, but optimistic expectations have been dampened. “45 percent of the companies reported bottlenecks in preliminary products – that is the highest figure since 1991,” emphasized Fuest. In manufacturing, however, the business climate improved to its highest level since May 2018. Capacity utilization increased significantly to 86.2 percent and is thus above the long-term average for the first time in almost two years. The industry is booming, but the bottlenecks in intermediate products such as semiconductors are the downside, said Ifo economic expert Klaus Wohlrabe. There is sand in the gears when it comes to procurement, across almost all industries.

Service sector worries

In the service sector, the mood clouded over again somewhat. The companies were less satisfied with their current situation. “Even the optimism that had recently emerged has disappeared again.” While the logistics sector is benefiting from the upswing in industry, the hospitality and tourism sectors in particular suffered from the lockdown. In the retail sector, the business climate picked up slightly – not least because of the better location at car dealerships, for example. With a view to the coming months, however, pessimism has noticeably increased again. According to the Ifo, the mood among companies also deteriorated in the construction industry.

Bottlenecks and delivery problems

“The catching-up process is stalling a bit,” commented Jens-Oliver Niklasch, economist at LBBW. Probably this has to do with the uncertain development of the pandemic and the response of politics to it – keyword “Easter rest”. Michael Holstein, chief economist at DZ Bank, said the current survey shows that the export-driven boom in German industry is continuing. “Due to the global demand for industrial goods, the bottleneck is noticeable in important intermediate products such as memory chips. It could take months to overcome the delivery problems, which is why the outlook is somewhat gloomy.” “The recovery should only gain real momentum when the lockdown is noticeably relaxed, which we expect from the end of May,” commented Jörg Kramer, chief economist at Commerzbank. Then consumers would probably dissolve part of the forced savings, which, according to our estimates, now amount to seven percent of their annual income.

Da Nang street dance is one of the vibrant nightly arts activities of the city by the Han River There is no shortage of places to play When the sun goes to sleep, everyone rushes in the daytime to make room for a sparkling Da Nang at night. Bridges across the Han River begin to hold visitors’ legs. Along the streets, the coast, each row of shops is crowded with customers. Da Nang has a place where almost no night is “dull”; Both locals and tourists flock to this popular destination. It is the Helio night market in Hai Chau district. This place keeps customers longer than other night markets because there are stages with singers performing every night. Weekends, guests here are crowded. The Western Quarter in Ngu Hanh Son district seemed to be starting up later. When the epidemic did not happen, this was a crowded place for foreigners. There is no shortage of luxury restaurants here; the bars are open until the clock turns to the new day. Dieu Linh, owner of the Crazy Cats bar on An Thuong 6 street, My An ward, said that most of the guests coming to her bar are foreigners, they come to drink beer, listen to music until after 0 o’clock and almost every night. also crowded. These are places that serve the needs of young people to play late at night and play late. Visitors who like to enjoy a colorful Da Nang night can choose to climb a yacht to surf between the Han River. On the yacht, visitors can both listen to singing and be served with food. On days with street dance, visitors will be spoiled for adventure with dancers in eye-catching costumes, dancing to the bustling music. Ms. Nguyen Thu Huong (36 years old, from Nghe An) shared: “It is true that Danang allows people to enjoy a lot of values ​​at night. I go to Danang a lot, but I cannot go all the shopping and entertainment. Every time I come to this city, there is a new feeling ”. Mr. Dang Quang Man, Director of the Helio Da Nang entertainment area, said that Da Nang at night is an interesting program. The coordination of units on the same major theme will create product brand “Danang By Night”, which increases the spending efficiency of guests at night. Add products, extend the time Talk to PV Tien Phong, Mr. Cao Tri Dung, Chairman of Da Nang Tourism Association, acknowledged that the city had night activities to serve diverse needs of tourists, but it still needs to be improved. City leaders should pay attention to special tours, organize food streets, shopping, shows … to avoid duplication and boredom. Next May, a program “Da Nang at night” (Danang By Night) will present visitors with a new and more attractive look. The city has prepared a longer, more methodical way, focusing on 10 key activities to make Da Nang’s night economy different. During this time, visitors will enjoy the “River of Light” through artistic lighting on the Han River, bridges, administrative buildings, high-rise buildings on both sides of the river. Coming to My An night sea, not only sit and enjoy the wind, eat simply, visitors also enjoy very new services: massage – therapy, watching movies on the sand. This outdoor cinema is expected to be very attractive to visitors. In the central streets, the city has also built many places to check-in, eat, shop, and at the same time weave music shows, dance … enriching spiritual values ​​for the people. , traveler. Guests enjoy food at Da Nang night market. Photo: Thanh Tran Mr. Le Minh Hoa, Head of Economic Department of Ngu Hanh Son District, shared that when Danang By Night is deployed, it will increase the demand for tourists to use night services. Ngu Hanh Son district alone has 6 activities to participate in this program such as night food, night sea, An Thuong tourist street … “We are advocating tourism service establishments, bars, pubs. (bars selling drinks, alcohol) … prolong the operation time; advise district leaders to deploy products to experience music and cuisine, seafood neighborhood … ”, he said. Ms. Dieu Linh, owner of the Crazy Cats bar, said that when the program was implemented, she hatched a plan to open a number of new service and entertainment models. “I really hope the city will loosen some rules so that we can better serve our customers’ nightlife needs. For example, loosening the regulation of noise, or after 0 o’clock can allow business households to add a few sets of tables and chairs on the sidewalk in front of the restaurant to serve foreigners, because they like to enjoy the outdoor atmosphere at night. more, ”said Linh. Mr. Cao Tri Dung further information, Da Nang Tourism Association has proposed to change some regulations on night business. The city has agreed to a number of proposals, such as extending the operation time of yachts on the Han River, karaoke, discotheques … He acknowledged that when Danang By Night is deployed, it will have a significant impact on tourism, contributing to the economic development and education. Moreover, the program launched when the epidemic has been well controlled, and right at the beginning of the summer, it might be a boost to the night economy and tourism in Da Nang. “Happy Hour” will stimulate shopping demand Da Nang Department of Industry and Trade has a plan to organize the program “Happy Hours” to stimulate shopping demand and promote economic activities at night. “Happy hour” takes place from 20:00 to 21:00 from Friday to Sunday every week, starting from April 30 to December 31. Promotional activities apply to business both in-store and online. During the “Happy Hour”, the business units will offer discounts on goods and services as low as 50%, and the highest is 100%. Da Nang Department of Industry and Trade also encourages business units to increase the opening time of service from after 22:00 on weekends and major holidays.

By Klaus-Rainer Jackisch, MR New money to stimulate the ailing economy is generated by the European Central Bank rather silently and unspectacularly. To combat the crisis, the central bank does not buy meters high paper or tons of paint to use to print new banknotes. Their delivery vans also do not transport cash from the catacombs of the Eurotower. And there is no printing press in the cellar that rattles, runs hot and steams vigorously. No, central bank money is usually created with a few clicks of the mouse on the computer – and in times of Corona even in the home office. The ECB thus produces book money, writes it in its books and distributes it on the markets.

Almost two trillion just for PEPP

1.85 trillion euros are generated almost incidentally in this way to combat pandemics alone. For this huge sum, the ECB buys bonds on the international financial markets in its PEPP program, which was set up especially for the coronavirus pandemic: government bonds, for example, with which the euro countries raise money for their budgets. Municipal bonds, the proceeds of which municipalities use to finance a new waterworks or the renovation of their town hall. And corporate bonds, which companies use to finance the development of new e-cars, economical washing machines or unusual chocolate creations, for example. Some of these bonds have excellent credit ratings and sell like hot cakes. You shouldn’t have others in your depot. The ECB will buy them anyway if they do not fall below certain criteria. The large amount of money that flows into the cycle is supposed to keep the economy going. It enables banks to lend companies cheaply so that they can continue to exist and hopefully expand again soon. Overall, it lowers interest rates because the central bank buys almost everything and the issuers can easily get rid of their bonds: So you only have to pay low interest. And finally, it provides the entire system with sufficient liquidity so that there are no bottlenecks. Since the financial crisis, the ECB, like other central banks, has seen bond purchases as a panacea for getting the economy going again. She didn’t really succeed. But at least the economy was able to recover a little for a while and did not slide down completely.

Risks and Side Effects

The side effects of this monetary policy are visible everywhere: the stock markets are exploding as if there is no tomorrow. Because of a lack of returns, the money flows to the stock exchanges. In the real estate markets, the home is becoming a barely affordable luxury property. After all, the sheer mass of liquidity also produces inflation in the long term, so it devalues ​​the money if it is not collected again in time. The first signs are already noticeable in real life. Another phenomenon that has so far received little attention is developing more in the dark. Experts call it the “zombization” of parts of the economy – a development that causes great damage in the long term and is likely to further reduce the level of welfare. The somewhat creepy term describes companies for which the large amount of cheap money from the ECB ensures their survival, although under normal circumstances they would have been bankrupt long ago. Either because your business idea is out of date or you cannot adapt to new circumstances. Or finally, because they are simply working inefficiently. So there are companies that can no longer pay their interest from current profits and would therefore have to file for bankruptcy. But given the current conditions, they can easily get more loans to service their interest.

Thousands of “zombie” companies in Germany alone?

The Cologne Institute of the German Economy estimates that around 5000 such “seemingly dead” companies have emerged in Germany alone in the wake of the pandemic. Their processing is also prevented because the obligation to report bankruptcy is currently suspended in this country. Worldwide, the share of such “zombie” companies is now around 18 percent, estimates the Bank for International Settlements in Basel (BIS), the central bank of the central banks and, so to speak, the mother of the entire central banking world. This value is the highest ever measured. Before the crisis it was twelve percent. This is partly due to the corona crisis. But the BIS experts have calculated that around 70 percent of these companies have no chance of getting back on their feet even without the virus. Instead, they would be artificially kept alive with the cheap money. The BIS has viewed this development with great concern for years. That is why it repeatedly calls on its members to end the loose monetary policy and return to reasonable interest rates. From an economic point of view, dragging sick and unproductive companies through is fatal in the long term because it lowers the welfare of societies and thus widening the gap between rich and poor.

Innovation slowed down, dynamism paralyzed

The structural problems of the European economy, which have at least been aggravated by the ECB policy, can be seen in bare figures: The productivity of workers in Europe has stagnated for years and continued to decline during the crisis. The number of start-ups, particularly in Germany, is also falling. In the land of inventors and inventors, the volume of patent applications is also stagnating. In fact, the monetary policy of the ECB is also causing economic dynamism in the euro zone to slacken because the “seemingly dead” companies are clogging the system. Because they occupy market areas and thus make it more difficult for new, innovative companies to enter. “Zombie” companies tie up capital, expertise and skilled workers that are lacking elsewhere in order to get new developments off the ground. The OECD has been warning of these developments for years and has repeatedly made it clear that Europe in particular is falling behind in global competition. Because in order to be able to keep up with an aggressive China and the self-conscious USA, functioning, dynamic economies are needed in Europe that are characterized by high innovative strength. Otherwise, they will not be competitive in the long run. However, this is exactly what the current monetary policy prevents.

ECB fears turbulence in the financial markets

The ECB is well aware of these connections. But when it comes to choosing between plague and cholera, it is better to stick to current politics. Even the appearance of a change in monetary policy immediately triggers unrest in the financial markets, as the rise in bond yields a few weeks ago as a result of higher inflation rates showed. The ECB is not primarily concerned with the welfare of the financial markets. But severe turbulence there always has very negative consequences for the real economy – especially for the labor market. ECB boss Christine Lagarde will probably also assure this week after the council meeting that the ultra-loose monetary policy will be continued. In fact, as announced in March, the pace of bond purchases has increased significantly in recent weeks. The ECB regards this monetary policy as a blessing. But how much it will become a curse for the economy in the long term will only be able to be assessed in years.

An image of polluted air was taken on February 13, following the outbreak of the Covid-19 pandemic, in Beijing, China. Photo: Reuters. On April 20, the International Energy Agency said that global CO2 emissions from electricity use will increase by nearly 5% this year. This suggests that an economic recovery from Covid-19 could bring many benefits, except for climate sustainability. The IEA’s 2021 Global Energy Assessment predicts that carbon dioxide emissions will rise to 33 billion tons this year, 1.5 billion tons higher than in 2020, the highest increase in more than a decade. IEA Executive Director Fatih Birol said this year’s increase in emissions this year could be increased by the recovery of coal use in the power sector, which is forecast to be particularly strong in Asia. It will also put pressure on governments to take action on climate change. US President Joe Biden will hold an online summit involving dozens of world leaders this week to discuss climate change ahead of global negotiations in Scotland at the end. this year. Last year, as electricity usage fell due to the Covid-19 pandemic, energy-related CO2 emissions fell 5.8% to 31.5 billion tons, after reaching a peak in 2019 of 33, 4 billion tons. The IEA’s annual review analyzed the latest country data from around the world, economic growth trends and new energy projects. Global energy demand is expected to grow 4.6 percent by 2021, led by developing economies, pushing it above 2019 levels, the report says. Demand for fossil fuels is on the rise in 2021, with both coal and gas rising above 2019 levels. IEA said more than 80% of its forecast for coal demand growth by 2021 will come from Asia, led by China. Coal use in the US and the European Union is also on the rise but will remain below pre-crisis levels.

On average, consumers spent at least 1250 euros less on consumer spending last year. This is the result of calculations by the Institut der Deutschen Wirtschaft (IW). In total, this corresponds to a decrease of 116 billion euros, according to a study by the employer-related research institute. The percentage decline in spending was 6.1 percent compared to 2019, the biggest slump in 70 years. “Short-lived consumer goods” such as clothing or shoes were particularly hard hit by the decline, according to the study. The purchase of durable consumer goods such as cars or furniture also declined in the course of the first lockdown, but demand in the second half of 2020 increased by five percent compared to the previous year. The temporary VAT cut could also have had a stimulating effect on consumption.

Service providers hit particularly hard

The service sector was hit particularly hard by the lockdown measures in 2020. In 2020 as a whole, the decline totaled 78 billion euros, according to the IW. That is more than two percent of the German gross domestic product. “The state-decreed closure of body-related services, restaurants, hotels, leisure and event facilities have made many consumer wishes impossible,” said IW scientist Hubertus Bardt. The data confirm a study by the Federal Statistical Office in March. This had also indicated that the development in the Corona crisis differs significantly from that in the financial and economic crisis of 2008/2009. At that time, private consumption was less affected and even proved to be a pillar of the German economy.

It will continue to save

The researchers do not yet see a fundamental recovery in the propensity to consume in German private households. For the first quarter of 2021 they put the consumption shortfall at a further 40 to over 60 billion euros. According to a survey carried out by the IW together with other research groups, 43 percent want to save the part of their income that remains after basic expenses. Usually it is less than 30 percent. In addition, only a third of those surveyed stated that they currently plan to spend on vacation – usually 45 to 50 percent.

A corner of the urban area west of Hanoi. Photo: DUY LINH The 17th Hanoi City Party Committee has just issued the Program No. 03-CTr / TU on “Urban embellishment, urban development and urban economy in Hanoi in the period of 2021 – 2025”. The program identifies the goals of rapid and sustainable development of the Capital towards a green city, a smart and modern city; ensure the harmonious link between urban and rural areas. Notably, the program sets out the task of developing the urban economy, developing Hanoi into a major trade and economic center of the region and Asia. Build modern and synchronous infrastructure Program No. 03-CTr / TU on “Urban embellishment, urban development and urban economy of Hanoi in the period of 2021 – 2025” is built on the basis of inheritance and promotion of achieved results. Program No. 06-CTr / TU on “Synchronous development, gradual modernization of urban infrastructure, strengthening management of construction order, land, environment, building a civilized city, modernization period 2016 – 2020 ”. Noting the results achieved in the period 2016 – 2020, but the city also admits some limitations such as the low urbanization rate, the uneven urban development and the potential; the uniformity of the urban infrastructure system is not high; The renovation and reconstruction of the old apartment building still has many problems … This is the basis for the Hanoi City Party Committee to offer solutions and tasks to make breakthroughs in urban construction and development. the period of 2021 – 2025. The program aims to quickly and sustainably develop the Capital towards a green, smart and modern city; ensure the harmonious link between urban and rural areas; to raise the quality and efficiency of urban embellishment, development and modernization in association with the sustainable development of the urban economy; to build typical works, architectural and landscape architectural spaces with the characteristics of the Capital. Ensuring the sustainability of the urbanization process, solving challenging problems posed in the urban development process. To accomplish the above-mentioned goals, the program sets out key tasks, in which priority is given to reviewing and implementing synchronous plans; to enhance urban embellishment and modernization towards modernization and improve living quality; to synchronously and modernize and expand the scale of the system of urban infrastructures, increase the proportion of land funds for urban traffic, quickly develop road and urban railway transport infrastructure; green, smart, modern and sustainable urban development; investment in expanding urban areas and satellite urban areas; urban management strengthened; urban economic development; strive to build Hanoi by 2025 into a major trade and economic center of the country and the Southeast Asia region. The program has outlined six key solutions. First of all, building and perfecting the system of mechanisms and policies; bring into full play potentials and resources, attach special importance to investment for in-depth development, promote investment socialization; to speed up the implementation of urban infrastructure construction projects and works, urban embellishment and development; to step up administrative procedure reform and consolidate the apparatus; improve the quality of the contingent of cadres and civil servants to meet their tasks; enhance the application of science – technology in embellishment, urban development and urban economy … Expeditiously deploy the tasks The successful implementation of the Program No. 03-CTr / TU of Hanoi City Party Committee will determine the appearance of the city and the quality of life of the people in the coming time. Departments: Construction, Transport, Industry and Trade play a key role in implementation. Currently, the Department of Construction is assigned by the Hanoi City Party Committee as the Program Standing Committee. Director of the Hanoi Department of Construction Vo Nguyen Phong said that the Department is urgently coordinating departments, branches and units to advise and build plans of the City People’s Committee to soon implement the program from the beginning of the second quarter to 2021. Regarding specific jobs, the Department of Construction will focus on completing the housing development plan in the area in the period 2021 – 2025, with a vision to 2030, with emphasis on social housing; focus on renovating and embellishing urban areas, developing technical infrastructure, improving the quality of life of people; completing the construction of a specific framework and mechanism project to accelerate the renovation and reconstruction of the old apartment building; embellishment of valuable architectural works; Deploying underground electrical and telecommunications cables on 300 streets in the old town area … For transport development – one of the most important issues of the program, the tasks are very heavy, especially raising the proportion of traffic land in urban areas to about 12 to 15%; to complete the system of ring roads and radial axes; solve the problem of urban traffic congestion. According to Director of the Department of Transport of Hanoi Vu Van Vien, recently, the Department has proposed a list of important traffic works that need priority in the period of 2021 – 2025. In which, there are six urban railway projects. Marketing; five ring roads; nine big bridges crossing the Red and Duong rivers; five highway improvement projects connecting the capital with neighboring provinces. If implemented on schedule, the traffic situation in Hanoi will see many positive changes in the coming time. Ba Dinh, Hoan Kiem, Hai Ba Trung and Dong Da districts focus on the task of implementing six urban planning projects; towards the relaxation of the population, building more public works, renovating the old apartment building, focusing on building architectural planning management regulations; organizing the urban design of new open roads and some important roads … For district blocks, especially districts preparing to go to the district, they will promote the planning and construction of infrastructure to shape a modern city in the future.

The National Online Book Fair 2021 takes place from April 17 to May 15 at book365.vn Compared with the first year organized in the online form, the 2021 Book Association has many new and more attractive features. In which, there are about 70 publishing and publishing units in the country (an increase of nearly 20 units compared to 2020), nearly 30 foreign units, bringing nearly 20,000 good books, newly provided books over 30,000. printed book titles, e-books (an increase of nearly 15,000 book titles compared to 2020) for readers. All books are beautiful and copyrighted publications. Especially, at this year’s event, the Ebook book space and the copyright exchange were piloted to connect domestic online publishers with readers; as well as creating a space for cross-border exchanges between domestic and foreign publishers, creating opportunities to connect, search and transact valuable book copyrights through the application of the latest online 4.0 technology. . This year’s online book fair has made many improvements to its interface as well as technology to create a space for readers to search and select books, and create conditions for units to participate in book exchanges and exchanges. copyright translation is more favorable. In addition, many seminars, online exchanges between authors, researchers, publishers and readers aim to spread the love of books to readers. According to Mr. Nguyen Nguyen, Director of the Publishing – Printing and Publishing Department (Ministry of Information – Communication), Head of the Organizing Committee of the National Online Book Association 2021, this year’s event continues to be an important stepping stone to bring culture. reading activities as well as publishing activities step by step step into digital transformation, apply technology, create habits for readers to experience books on a digital platform. At this same point of view, many publishers believe that while translating COVID-19 has many potential risks, as well as the strong development of the 4.0 technology revolution, the organization of the Online Book Association is the right direction. appropriate, in accordance with the trends and needs of the reader. For publishers, book publishers, book companies … joining the Online Book Association helps them save on site and human costs, and at the same time, promote books more widely to the community. Meanwhile, readers in all parts of the country, especially in places where there is a shortage of books have the opportunity to access, experience digital books, buy useful books without wasting time, instead It only takes a “click” on the computer screen or smart phone, then you have owned the book you want to buy. Up to now, the National Book Association has taken place for the 7th time, annually held to celebrate Vietnam Book Day April 21. This event was jointly organized by the Ministry of Information – Communications, the Central Propaganda Department, the Ministry of Culture, Sports and Tourism and other units to encourage and develop the reading movement in the country. In 2020 and 2021, the National Book Association will be organized in the online form, on the e-floor https://book365.vn of the Ministry of Information and Communications. Over the past 7 years, whether taking place on the electronic floor or on the field, the National Book Association has also received the attention of book lovers and the community, contributing to enhancing the position and role of books in social life. This is also an opportunity to honor readers, participate in composing, publishing, collecting and storing books; to uphold the responsibilities of all levels and branches for the construction and development of reading culture.

Recently, the local area announced three phased measures for the hotel industry, including:

Phase 1: April 29

The open objects are large hotels for local tourists in Greece, such as hotels in Chalkidiki and Sounion in northern Greece. Some hotels that are open throughout the year will also be open during Easter.

Tourists can book hotels after obtaining travel permits from their home country, and then receive confirmation from the hotel. Some seasonal hotels will also open. These hotels mainly receive Greek tourists, but also foreign tourists in accordance with relevant bilateral agreements.

The second stage: May 15

Including B&Bs and hotels in Crete, Dodecanese and Cyclades. At that time, Greece will be open to international tourists, accepting three types of tourists who have been vaccinated against the new crown, or have developed antibodies, or have tested negative for the virus.

The third stage: the end of June is expected

The hotel industry will welcome the peak tourist season with the largest scale!

As for the catering industry, the local area is also studying the feasibility of allowing the catering industry to allow outdoor operations from May 4th or May 10th!

This is the first stage of the opening up of tourism in Greece. During this period, Greece will lift restrictions on flights to EU countries and five other countries (the United States, the United Kingdom, the UAE, Serbia, and Israel).

Citizens of non-EU countries outside the EU regulations cannot enter Greece temporarily. Citizens of non-EU countries currently allowed to enter Greece include: Britain, Australia, New Zealand, South Korea, Thailand, UAE, Russia, Israel, Rwanda and Singapore. Rwanda and Singapore have returned to the “white list”.

Starting from March 25, Israeli tourists who have completed the vaccination do not need to be quarantined for 7 days after entering Greece. At the same time, international flights can only land at airports in Athens, Thessaloniki, Rhodes, Kos, Chania, Heraklion, Santorini, Mykonos and Corfu. By May 14, the epidemic in Greece is expected to improve, and international flights will be able to land at any international airport in Greece.

In addition, the current restrictions on Greek citizens in terms of catering and trade are also applicable to foreign tourists. Under the premise that interstate travel is prohibited, visitors must present the voucher for the hotel reservation when going from the airport to the hotel.

In terms of land transportation, the two entry points from Bulgaria to Promahonas (Προμαχώνα) and Nephia (Νυμφαία) were operating normally during the first phase of the opening of the tourism industry. When Greece officially opens on May 14, tourists can also enter Greece from other border checkpoints.

Starting from April 16th, entering Greece will need to present a vaccination certificate issued by the relevant department of the traveler’s country of origin, a negative nucleic acid test report 72 hours before the trip, and the “Passenger Location Form” filled out 24 hours before the trip.

After entering Greece, tourists are required to undergo relevant inspections. If a tourist is found to be infected with the new crown virus during the test, he needs to be temporarily placed in an isolated hotel. If you enter Greece from the land border and are detected to be infected with the new crown virus, the tourist cannot enter Greece.

So the most critical question is, can Chinese tourists enter Greece? ? ? This is also the most concerned issue of our investor customers!

There have been various rumors about the entry into Greece as long as they provide a certificate of negative nucleic acid or a certificate of vaccination. Many Chinese people have misunderstood that they can enter Greece in May.

However, after reconfirmation with our lawyers, there is no official statement that Chinese tourists can enter Greece in May. No matter whether the certificate of nucleic acid or vaccination is provided, they cannot enter Greece.

The Greek government has always followed the EU’s unified requirements and implemented the principle of equality and reciprocity with China. Before China opens its borders to the EU, it will not open its borders to China.

Therefore, we remind investors once again not to believe in rumors! Up to now, if you want to come to Greece, you still need more patience. At the same time, we will also update the entry policy information in a timely manner. Whether the EU and Greece will update entry information after May 14 or whether they will include China in the entry list is still unknown. Everything is possible.

The restart of the “tourism season” will not only bring tourism revenue, but also continue to pick up local homestays, hotels, and rents, which will drive the local real estate market to rise, and will also usher in a new momentum for real estate investment in Greece. Interested investors should hurry up and buy their favorite real estate!

With the issuance of national debt and economic recovery, Greece has once again become a “little sweet” in the capital market

On March 17, Greece announced the issuance of a batch of 30-year treasury bonds with an interest rate of 1.9%, raising a total of about 2.5 billion euros. International financial giants such as Goldman Sachs, HSBC and JP Morgan Chase acted as the underwriters of this treasury bond issuance. International media have reported on this, saying that the successful issuance of the 30-year treasury bond indicates that the Greek economy has been fully on track and has regained the trust of the international capital market.

Since the outbreak of the debt crisis in 2009, Greece seems to have become the “Mrs. Bull” in the international capital market, and everyone regards it as a mess. However, Greece, after all, has a splendid history and culture and a sound economic foundation. With the joint efforts of the government and people, as well as the help of the European Union and the international community including China, the Greek economy has gradually emerged from the quagmire and has become an international one again. “Little Sweets” sought after by the capital market.

The Greek economy recovers steadily, and the 10-year bond yield breaks 1% for the first time

The “Golden Visa” program launched by the Greek government in 2013 has attracted a large number of international investors to invest, travel and live in Greece. It has achieved great success and played an important role in the recovery of the Greek economy.

According to the OECD forecast, affected by the epidemic, Greece’s GDP will shrink by 10% in 2020, but it will return to the upward trend and grow by 0.9% in 2021, and it will increase by 6.6% in 2022.

In addition to the high quality and low price of a livable life in Greece, in recent years, with the continuous economic recovery, Greece has attracted many well-known companies such as Microsoft, Xiaomi, Alibaba, Fosun Group, and COSCO Shipping!

Greece’s launch of the home-buying immigration program is extremely competitive. Compared with other European countries that issue golden visas, the terms of the Greek golden visa are more investor-friendly, and the investment cost and threshold are low. With an investment of 250,000 euros, you can get a Greek green card, enjoy three generations of immigration, high-quality education, comprehensive medical care, high welfare and EU status, and start a romantic slow life in the Mediterranean!

European policies are gradually tightening, and when the amount of investment in Greece will be adjusted is still unclear. It is certain that the “window period” left for everyone is limited, and visionary investors have already taken the lead and grabbed the Greek housing market. If you still need overseas status, asset allocation, children’s education, vacation and retirement, etc., come and contact the immigration help to act in advance!

· Application conditions:

1. Applicants must be at least 18 years old, have no criminal record, have no academic qualifications and language requirements;

2. Greece buys real estate of 250,000 euros or more,

   · Project Benefits:

3. Cost-effective: Europe is cost-effective, with green cards for house purchases;

4. Investment quota: only 250,000 euros to buy a house, get a green card in one step;

5. No residency requirements: No residency requirements after obtaining the green card;

6. Fast approval speed: The immigration process in Greece is simple, the approval speed is fast, and it can be completed within 3 months at the earliest;

7. High status of gold: Greece is a member of the Schengen countries, with Greek status, you can travel to 26 Schengen countries;

8. Simple application requirements: no need to prove academic qualifications, management experience, source of funds and physical examination;

9. Great potential for house price appreciation: Greece’s economy is picking up, the housing market has bottomed out, and housing prices have much room for recovery.

   If you need to consult the Greek immigration program , Application conditions, immigration advantages, processing cycle For related questions, you can directly send me a private message.

By Ruth Kirchner, ARD studio Beijing China’s gross domestic product soared more than it has done in 30 years. As the national statistics office in Beijing announced, the economy grew by 18.3 percent in the first quarter compared to the same period last year. “We see a sustained and stable recovery in the first quarter,” said spokeswoman Liu Aihua. But she also warned of uncertainties in view of the global corona pandemic. The situation is not stable.

Economic stimulus programs are having an effect

The unusually strong growth in the first three months can be explained by the starting position a year ago. At the beginning of 2020, China came to an almost complete standstill due to the corona pandemic, and the economy collapsed. This is why the recovery is now being reflected all the more clearly in the growth figures. The government’s economic stimulus programs are also having an effect. China’s economic growth looks more modest when you compare the first quarter with the last quarter of 2020 – then the growth is 0.6 percent – and thus fell short of the expectations of many analysts. They used this number as evidence that China’s economic recovery is slowing down.

Products for the home office in demand

The spokeswoman for the statistics office also warned against expectations that are too high: the foundations for a recovery in the domestic market are not yet very solid, said Liu Aihua, and some service sectors and smaller companies are continuing to grow only very slowly. China’s export economy, on the other hand, is benefiting from the strong demand for products that are currently needed in the pandemic – including medical equipment or laptops and monitors for the home office.

A good sign for Germany

For the year as a whole, the Chinese leadership is targeting growth of more than six percent, the International Monetary Fund is even predicting more than eight percent. Germany’s export-oriented economy also benefits from this. German carmakers were recently able to post substantial profits in China.

The third corona wave is massively inhibiting the growth of the German economy this year. The leading German economic institutes, the RWI in Essen, the Berlin DIW, the Ifo Institute in Munich, the Kiel IfW and the IWH in Halle have reduced their forecast from 4.7 percent in autumn 2020 to 3.7 percent.

Risk from new mutations

“The new wave of infections and the associated containment measures lead to a downward revision of the forecast for the year 2021 by one percentage point compared to the autumn report 2020,” says the joint report. The first quarter of the current year in particular is weighing on the economy. “Due to the ongoing shutdown, economic output is likely to have fallen by 1.8 percent in the first quarter,” said Torsten Schmidt, Economic Director of RWI. “The development of the pandemic continues to be the most significant downside risk for the forecast,” warn the institutes. There could still be bottlenecks and delays in the delivery of vaccines and tests. New virus mutations could also stop the economy from opening up, which would slow the recovery again.

Better prospects from summer

The forecast is based on the assumption that the current shutdown will continue for the time being and that the last easing will largely be reversed. The institutes do not expect further easing steps until the middle of the second quarter, and the restrictions will then be lifted by the end of the third quarter. “In the course of the easing, we expect a strong expansion in economic activity in the summer half of the year, especially in the service sectors particularly affected by the pandemic,” said Schmidt. The experts emphasize that a strong recovery will set in as soon as the risk of infection has been averted, especially through vaccination. They forecast that the economy should return to normal capacity around the beginning of next year. In the course of the easing from May, the number of unemployed will also decline.

Increase retirement age?

In view of the rising national debt, the institutes are in favor of increasing the retirement age. It would be a challenge to get the state finances back on a solid footing after the pandemic, it said. As the population is getting older, pension insurance plays a major role. A higher retirement age could support the state finances. So far, the federal government has assumed economic growth of three percent. Recently, three industry associations had expressed their cautious optimism about the current economic development in their sectors . The service sector in particular is suffering from the lockdown measures.

Economic Daily-China Economic Net, Beijing, April 13 (Reporter She Ying) The State Administration for Market Regulation, together with the Central Cyberspace Administration of China, and the State Administration of Taxation, held an Internet platform enterprise administrative guidance meeting on the 13th. The meeting implemented the Central Economic Work Conference and the ninth meeting of the Central Finance and Economics Committee. It affirmed the positive role of the platform economy, analyzed the outstanding problems, asked to give full play to the warning role of the Ali case, and clearly stated that Internet platform companies must be respectful and obey the rules. The issue was fully rectified within a time limit and a new order of platform economy was established. Representatives of 34 Internet platform companies participated. The meeting pointed out that the overall situation of my country’s platform economy is improving. However, in the rapid development, risks and hidden dangers have gradually accumulated. The harm should not be ignored, and the legal regulations should not be delayed. Force the implementation of “choice one between two”, abuse of market dominance, implement “pink-point mergers and acquisitions”, burn money to seize the “community group buying” market, implement “big data cracking”, ignore “counterfeit and shoddy”, “information leakage” and implement related Issues such as tax violations must be severely rectified. Among them, the forced implementation of the “two alternatives” issue is particularly prominent. It is a prominent reflection of the willful and disorderly expansion of capital in the platform economy, and it is a flagrant trampling and destruction of the market competition order. The forced implementation of “choose one” behavior restricts market competition, curbs innovation and development, and harms the interests of operators and consumers on the platform. It is extremely harmful and must be resolutely cured. In response to the forced implementation of the “two alternatives” and other outstanding issues, the meeting clearly stated that platform companies must grasp the right direction, enhance their sense of responsibility, insist on giving priority to national interests, insist on operating in accordance with laws and regulations, insist on fulfilling social responsibilities, and achieve the “five strict preventions”. “And “Five Guarantees”: Strictly prevent the disorderly expansion of capital to ensure economic and social security; Strictly prevent monopoly disorder and ensure fair market competition; Strictly prevent technological stifling and ensure industry innovation and development; Strictly prevent the abuse of rules and algorithms to ensure the legitimate rights and interests of all parties; Strictly prevent the system Closed to ensure that the ecology is open and shared. The meeting required that all platform companies should conduct a comprehensive self-inspection and self-inspection within one month, complete rectifications one by one, and disclose to the public the “Commitment on Operating in Compliance with Laws” and accept social supervision. The market supervision department will organize follow-up inspections of the platform’s rectification. After the rectification period, if platform companies are found to have forced the implementation of “two alternatives” and other illegal activities, they will all be severely punished in accordance with the law. The meeting emphasized that the bottom line of policy is insurmountable, and the legal red line cannot be touched. Strengthening the normative governance of platform companies’ violations of laws and regulations does not mean that the state’s attitude to support and encourage the platform economy has changed. Rather, it must adhere to the “two unshakable”, respect the law of platform economic development, and further develop the platform economy’s Important role. Baidu, Alibaba, Tencent, Meituan, ByteDance, Didi, iQiyi, Shell Search, Dangdang, Multipoint, JD, Kuaishou, Daily Youxian, Qihoo 360, Qunar, Sogou, Weidian, 58.com, Sina Weibo, Bilibili, Dingdong Shopping, Are you hungry, Gome, Hema Xiansheng, Pinduoduo, Ctrip, Xiaohongshu, Read Wen, Suning.com, Beibei.com, Mushroom Representatives from 34 Internet platform companies such as Street, Netease (strictly selected), Yunji, and Vipshop, as well as relevant persons in charge of the market supervision bureaus of Beijing, Shanghai, Jiangsu, Zhejiang, Guangdong, and Shenzhen, attended the meeting. Source: Economic Daily

New Minister of Culture, Sports and Tourism Nguyen Van Hung. (Photo: Xuan Mai / Vietnam +)

Member of the Party Central Committee, Secretary of the Party’s Civil Affairs Committee, the new Minister of Culture, Sports and Tourism Nguyen Van Hung clearly affirms the goals and solutions for Vietnam’s smokeless economy to soon surpass. “Storm COVID-19.”

The Minister said that the domestic market is an important “battlefield” that the whole industry needs to focus on exploiting in the period of “new normal.”

What resources support businesses?

– Minister, Vietnam tourism has determined to focus on Internal Market next time. So in your opinion, what is an overall strategy to create a common strength in exploiting this potential market?

Minister Nguyen Van Hung: The Vietnam tourism development strategy issued by the Government in 2020 has clearly affirmed the strategy of domestic tourism development. In which, priority must be given to organizing well tours and routes to areas of historical and cultural landmarks of Vietnam.

In order to implement the above policy, over the past time, the Ministry of Culture, Sports and Tourism has implemented the program Vietnamese people travel to Vietnam. In particular, after the effects of the COVID-19 epidemic, the tourism business community has calculated to redirect and exploit potential customers in the new context and is currently implementing this content under the direction of the set.

Vietnamese tourists visit historic sites in Ninh Binh. (Photo: Xuan Mai / Vietnam +)

There are a number of approaches, firstly, travel businesses, accommodation establishments and tourism service providers are restructuring their operations, moving from welcoming large groups of tourists, making tours / services. route to small, safe family groups.

The second is to build tourism products based on historical relics, landscapes and indigenous cultures of regions and strengthen propaganda and advertising to bring tourism products closer to citizen.

In the short term, the tourism industry should focus in these two directions. However, even though it is small-scale tourism, it is not subjective to disease prevention, minimizing the risk of infection in the community that can happen again, affecting the overall economy of the country. society.

– Tourism businesses are currently extremely difficult after the continuous “blows” of COVID-19, so the Ministry of Culture, Sports and Tourism has proposed solutions to the Government to have policies Supporting businesses to have more health “overcoming storms” and entering a new phase of the tourism industry is to focus on exploiting the domestic market, Minister?

Minister Nguyen Van Hung: Currently, the Ministry of Culture, Sports and Tourism is working with the Tourism Association to research and consider and submit to the Government policies to support businesses. However, it will only focus on the issue of mechanism, but in fact the State’s resources are also very difficult to immediately support the activities of tourism businesses. Therefore, the Government is studying a plan to support in the direction of exemption and reduction of land use tax and electricity bill exemption and reduction.

A corner of Bai Dinh pagoda seen from above. (Photo: Xuan Mai / Vietnam +)

As for long-term policies, the ministry needs to listen from the business community and the State appraisal agencies to submit to the Government a basic and balanced policy among other economic sectors.

Central solution in the context of “new normal”

– In 2020, the Ministry of Culture, Sports and Tourism has implemented many domestic stimulus campaigns such as Vietnamese traveling to Vietnam, safe and attractive Vietnam tourism … So in the context of “new normal. “In 2021, according to the Minister of the tourism industry, should such campaigns continue? How do you evaluate the effectiveness of those stimulus programs?

These campaigns have shown to initially meet the needs of people, contributing to domestic tourism growth. I think that these campaign models have been working and are being promoted, they need to continue to be strengthened and multiplied, because the reality is only piloted in a few localities.

To restore and develop tourism, we have to travel on both feet, focusing on welcoming international visitors and giving priority to developing domestic tourism. Only when standing with this “two legs” will tourism develop stably.

Recently, due to the “hot” development, we are paying attention to exploiting the number of international tourists but not paying much attention to domestic tourism. The impact of the COVID-19 pandemic forced the entire industry and business community to re-look at this open market, to see that domestic tourism is a radical direction and a pillar for sustainable tourism development. firm.

Therefore, the ministry has suggested businesses to restructure, change their approach, instead of focusing on international visitors, now focus on building plans to welcome domestic guests; shifting from serving foreign guests to serving domestic customers. As such, Vietnamese customers will inherit and experience high-value products that are intended for international customers.

Tourists come to Tam Chuc Pagoda. (Photo: Xuan Mai / Vietnam +)

As the data we know, on this 30/4 holiday, airlines have sold out tickets to many destinations across the country … Thereby to see that the domestic tourism demand of the people is quite high. The problem is that we need to create a unique product, pay attention to marketing and learn from the stimulus package first to achieve high efficiency and sustainability.

– So to build strong Vietnam tourism in a new context, according to the Minister, what solutions should the Minister focus on?

Minister Nguyen Van Hung: It can be said that the tourism industry is facing many difficulties. If tourism previously contributed 10% of the country’s GDP to the budget, from 2020 to Q1 / 2021, revenue from the whole industry decreased deeply; Last quarter 1, domestic tourists only reached nearly 18 million, down up to 50% over the same period last year …

From there, the tourism industry is facing difficulties because COVID-19 is still complicated. In particular, Vietnam has not yet been able to open its international market due to the lack of safety measures against epidemics.

We believe that the State management task is to develop a tourism development plan for the period 2021-2026 under new normal conditions and with the solution groups that we are focusing on building.

First, the tourism businesses, especially Travelers it is necessary to restructure soon, have solutions to manage human resources and resources; The second is to research the domestic market, restructure the tourist market to regulate the market, build products to meet the needs and the strategy must be long-term calculated for the development of the domestic tourism market. geography.

Third, tourism linkage must be based on special, distinctive and attractive tourism products and promote promotion and promotion. Branding products, connecting the values ​​and spreading the values ​​of the product to stimulate tourism demand of visitors; The fourth is to associate tourism, tourism products with cultural factors.

– Yes, thank you very much for your sharing!

Deputy Minister of Agriculture and Rural Development Tran Thanh Nam speaking and directing the conference. Photo: Quang Yen.

The number of cooperatives operating exceeded the set target

According to the report, by the end of March 2021, the country had nearly 17,600 agricultural cooperatives and 68 cooperative unions operating in the agricultural sector. Basically completing the target of 15,000 effective agricultural cooperatives assigned by the National Assembly and the Government.

Currently, 56/63 provinces and cities have issued a Resolution of the Provincial People’s Council on policies to encourage production and consumption of agricultural products; 48/63 provinces issued a list of key key products and commodities that need to be encouraged for development; 16/63 provinces have approved projects and joint projects of the province with 359 projects approved. In which there are 271 scientific organizations, 586,585 farmer households, 4,028 agricultural cooperatives participating in association with 1,867 enterprises. Out of more than 4,500 OCOP products, nearly 40% are owned by cooperatives and agricultural cooperatives.

According to statistics, there are 30,026 agricultural production and business farms nationwide, using 35,904 ha of land, 3.1 ha / farm on average; 3.7 employees / farm on average. The farm’s investment capital for production is VND 1,042 billion; average revenue reached 1,478 billion.

By the end of 2020, the country has 165 traditional occupations and 1,951 craft villages and traditional craft villages which have been recognized. The total number of establishments engaged in production and business in the rural industry is over 817,000, creating jobs for over 2.3 million workers, the total revenue from rural activities is over 236,000. billion VND, average income is 4 to 4.5 million VND / person / month.

In recent years, the level of mechanization of agricultural production in some stages has increased, especially for rice production. Targets for agricultural mechanization in some stages by 2020 will increase by 2-8% compared to 2019.

From 2017 to now, the Ministry of Agriculture and Rural Development has advised the Government to issue two important documents, namely Decree No. 40/2017 / ND-CP on management of salt production, processing and trading and Decision No. 1325 / QD-TTg of the Prime Minister on August 31, 2020 approving the salt industry development project for the period of 2021-2030. Salt production reaches about 1,350,000 tons, basically meeting the demand for salt in the country. To initially form industrial salt production zones in three provinces of Khanh Hoa, Ninh Thuan and Binh Thuan.

However, despite strong changes in both quantity and quality, the scale of revenue and the size of members of the agricultural cooperative remains small. Leadership capacity of cooperatives is still limited.

The implementation of agricultural mechanization still lacks strategy and is not synchronous. Important policies such as investment in supporting infrastructure, especially infrastructure for production and business, land policy and especially credit are still the bottlenecks.

Therefore, at the conference, many opinions said that the key point for cooperative development is human, so it is necessary to pay attention to support and improve the cooperative management capacity for the board of directors and the president of the society. board.

Deputy Minister Tran Thanh Nam and leaders of Dak Lak province chair the conference.

In addition, delegates also said that relevant ministries should continue to review and complete the legal system, mechanisms and policies on collective economic development, agricultural cooperatives (land, tax, credit). use …), promptly remove difficulties and problems, create conditions for the collective economy and agricultural cooperatives to develop stably.

Especially when the Free Trade Agreements take effect, the issue of product safety, quality and food security; Commodity competition will take place very fierce. With its advantages and potential, economic cooperation through cooperatives and cooperative groups will contribute to increase product value.

Main mission

Speaking at the conclusion of the conference, Deputy Minister of Agriculture and Rural Development Tran Thanh Nam asked localities to continue developing cooperative economies in the direction of mechanization of production, cooperation in investment in processing technology. to develop agricultural products in the direction of multidisciplinary and multi-occupations, adapting to the market economy, renewing production and business modes, in order to step by step improve the competitiveness of goods.

Deputy Minister Tran Thanh Nam emphasized that the task in 2021 is to continue perfecting the system of legal documents in violation of the industry law, promoting synchronous mechanization in agricultural production. Develop a rural career development strategy to 2030; Project to develop agricultural cooperatives to respond to climate change; Development of collective economy and cooperatives.

Conference scene. Photo: Quang Yen.

According to Deputy Minister Tran Thanh Nam, MARD is preparing to issue a circular guiding the functions, powers and tasks of the agricultural sector. Therefore, the organization of the local apparatus, depending on the situation of each locality, is structured and arranged properly, and at the same time, the local Departments of Agriculture and Rural Development advise to develop key programs and plans to help support and develop agricultural cooperatives.

“Currently, the cooperative infrastructure is very weak. Therefore, industries need to have mechanisms to support the development of cooperatives. The Ministry of Agriculture and Rural Development has tried to develop cooperative infrastructure for the past time, but it has not been as expected. We will try our best in the New Rural Program and make points in a number of projects ”, emphasized Deputy Minister Tran Thanh Nam.

At the end of the conference, Deputy Minister Tran Thanh Nam launched the 2021 Typical Handicraft Products Contest. Accordingly, the contest will receive works from September to October and summarize the awards at the Craft Village Fair. later.

“Now we must have a new mindset, that is to develop agriculture in the direction of combining multiple professions and associated with rural services. The second trend is that the OCOP Program is very effective, the rural industries are also attached to it, so we have to do research to promote this program. This is the task of the Department of Economic Cooperation and Rural Development to coordinate with localities in building long-term strategies ”, Deputy Minister Tran Thanh Nam.

At the General Meeting of Shareholders in 2021, the leader of VietinBank said, continuing to solve difficulties for businesses affected by natural disasters, epidemic COVID-19.

The results are positive

Information from the State Bank showed that: The credit flow is mainly focusing on production areas, priority areas, for example credit growth in agriculture, forestry and fisheries reached 2.42%; industry 3.04% … Credit in securities in the first quarter of 2021 reached VND 45,300 billion, down 1% compared to the end of 2020; credit in real estate reached 1.85 million billion, up 3%.

Credit growth is also evident in the business results of some banks. At the 2021 Annual General Meeting of Shareholders (AGM) of VietinBank that took place on the morning of April 16, Mr. Le Duc Tho – Member of the Party Central Committee, Chairman of VietinBank’s Board of Directors said: Quarter I / 2021, the safety and operational efficiency indicators of VietinBank are much better than the same period last year, of which the main operating income categories all grew by over 25% over the same period last year. 2020, operating costs will be managed effectively, cost-to-income (CIR) ratio will be maintained at a reasonable level; Asset quality is well managed, NPL ratio is managed below 1%.

With credit growth in the first quarter of 2021 reaching 3.69%, Vietcombank continued to lead the credit growth system. Vietcombank is assigned a credit growth limit of 10.5% in 2021. According to Mr. Nghiem Xuan Thanh, Member of the Central Committee of the Party, Chairman of the Board of Directors (BOM) of Vietcombank, the State Bank assigns a high credit target to Vietcombank based on many factors: ability to increase credit; capital is mainly poured into priority areas; low bad debt; Loan to deposit ratio (LDR) of the bank is only 71% while most other banks are over 90%. “With the result of credit increase in the first quarter of 2021, if the State Bank adjusts its growth target, Vietcombank can increase credit by 14% in this year 2021”, said Mr. Nghiem Xuan Thanh.

Representatives of LienVietPost on the morning of April 16 said: In the first quarter of 2021, Lien Viet Post Bank (stock code LPB) had a pre-tax profit of 1.112 billion dong, nearly doubling the same period last year. By the end of March 31, 2021, LienVietPostBank’s total assets reached more than 245,200 billion, an increase of over 20% over the same period last year. Capital mobilization from economic organizations and individuals continued to grow well, reaching nearly 206,300 billion VND. Market 1 outstanding loans reached over VND 183,100 billion, an increase of more than VND 6,100 billion compared to the end of 2020. Notably, the proportion of retail growth in credit growth in the first quarter of 2021 was more than 80%, shows the bank’s consistent orientation towards the retail segment.

On the HoSE stock exchange, stock LPB was in the group of stocks with the highest market price growth in the first quarter of 2021, up nearly 40%, from 12,400 VND / share in the trading session on December 31. / 2020 to 17,350 VND / share in the session on 31/03/2021. And currently reaching the price of nearly 19,000 VND / share. According to the plan on April 29, LienVietPostBank will hold an annual shareholder meeting, it is expected that this year, the bank will set a pre-tax profit target of 3,200 billion dong. Thus, with the results of the first quarter of 2021 reaching VND 1,112 billion, LienVietPostBank has completed about 35% of the profit target in this year’s business plan.

“The COVID-19 epidemic that broke out in some localities across the country continued to negatively impact production and business, especially the accommodation, catering, transportation and tourism industries; the consumption of agricultural products in some localities in epidemic areas has many difficulties …, affecting production and business, revenue and cash flow to repay debts of customers, thereby affecting bank credit activities ” , Mr. Nguyen Tuan Anh, Director of Credit Department for Economic Sectors (SBV).

In the difficult context of the economy, credit institutions (CIs) have implemented solutions to support people and businesses to overcome difficulties caused by the COVID-19 epidemic, by the end of March. / 2021 has restructured the repayment term for nearly 263 thousand customers with outstanding loans of more than VND 353 trillion; interest rate exemption, reduction and reduction for more than 660 thousand customers with outstanding debt balance of over VND 1.27 million. In particular, credit institutions have provided new loans with lower interest rates than before, with accumulated sales from January 23, 2020 up to now reaching over VND 3 million billion to over 452 thousand customers.

Maintain growth, support businesses

According to Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong, positive information on the first quarter business index of the banking system is the basis for forecasting credit growth this year will reach about 12%. This number will also be adjusted to suit the actual situation.

According to Dr. Vo Tri Thanh, a member of the National Financial and Monetary Policy Advisory Council, said that at present, the State Bank still operates a credit policy based on the total credit growth, but is flexible in the face of developments. try to both contribute to the economic recovery process but also have to be skillful so as not to cause “break-up” in the macro. “The credit growth rate in recent years has been slower, but the growth rate is not low compared to the previous years. The scale of credit balance / GDP is getting bigger and bigger (currently about 140%), so it is reasonable for the credit control to increase at 12% in 2021. If the economy recovers well, the credit for the whole economy can increase by 11-13% this year and is expected to grow stronger from the second quarter, “said Dr. Can Van Luc, economist. BIDV’s chief forecasted.

“VietinBank continues to proactively implement solutions to balance capital effectively, reduce capital costs to create resources to continue strongly implementing preferential policies, reducing lending interest rates and service fees, maintain the level of lending interest rates and service fees at the lowest and most reasonable level, support and accompany people and businesses affected by the COVID-19 epidemic, ”said Mr. Le Duc Tho.

Outstanding loans of VietinBank in 2021 are expected to grow by 7.5%, complying with the credit limit approved by the State Bank; capital mobilized from economic entities and individuals grew by 8-12%, adjusted in accordance with credit growth, and ensured prudential ratios as prescribed by the State Bank of Vietnam. NPL / credit balance is controlled below 1.5%.

From now to the end of the year, VietinBank continues to grow strongly in business activities, accompanied by dramatic improvements in quality and efficiency; implementing appropriate credit growth solutions while balancing effective capital sources; improving the quality of risk management, quality of growth, effectiveness and efficiency of internal control inspection; accelerating debt collection, handling risks, bad debts, improving asset quality. “Continuing to implement solutions to help remove difficulties for customers affected by natural disasters and epidemics, especially the COVID-19 epidemic under the direction of the Government and the State Bank of Vietnam,” said Mr. Le Duc Tho. .

The export business of Chinese companies experienced a strong boost in March. The increase was 30.6 percent compared to the previous year, as the statistics office in Beijing announced. That is a little less than experts had forecast. By contrast, imports climbed 38.1 percent faster than expected. Overall foreign trade increased by 34.2 percent in March – the ninth consecutive month of growth. For the entire first quarter, this results in an increase in exports of 49 percent. Imports increased by 28 percent. Regarding the growth rates, however, it should be taken into account that the previous year’s level was very low due to the Corona crisis. In addition, the pace of growth is slowing compared to the first two months of the year.

“A positive signal”

Nonetheless, experts are optimistic: “The strong foreign demand is likely to continue in the second quarter as the global economy continues to recover,” said economist Nie Wen of the Hwabao Trust. “But as global vaccination efforts accelerate, industries in other countries will gradually start up again.” The numbers are “a positive signal that global economic and trade activity is recovering and market confidence is growing,” said a spokesman for the customs office, Li Kuiwen. However, he warned that the global economic situation remained complex and serious.

Engine of the world economy

But the world economy is benefiting from the buoyant economic recovery in China. According to the customs authorities, imports from Germany rose by 28.4 percent in the first quarter. China delivered 60.5 percent more goods to Germany. Experts see the demand from the Chinese economy as a major reason for the relative robustness of German industry in recent weeks. Trade with the US is also flourishing. Despite the trade war and punitive tariffs, Chinese exports to the USA rose by as much as 74.7 percent in the first three months of the year. Imports from the USA increased by 69.2 percent. Germany is back in growth The world’s second largest economy after the USA will grow by a strong 7.8 percent this year, according to a forecast by the industrialized nations organization OECD, after being the only large country to grow in 2020 despite the corona crisis. For comparison: The Federal Reserve is forecasting economic growth in the US of 6.5 percent for the current year. Optimism is growing: in December, the Fed had only expected an increase of 4.2 percent. The federal government is currently forecasting an increase of only three percent. A few weeks ago, important economic institutes in Germany revised their forecasts downwards in view of the corona situation. On Monday, the three major industrial associations in Germany expressed their cautious optimism about the economic development. As a result of strong Chinese economic data, oil prices are rising today as China is one of the largest oil importers in the world. The prospects for a global economic recovery could also prove to be a driver for prices on the commodity markets in the future. That, in turn, could cause inflation rates to rise, as experts keep saying.

The Covid-19 epidemic has profoundly changed consumers’ culture, choosing products, seeking information and making more online shopping decisions. This drives traditional industries to leverage digital to reach and serve customers’ needs.

Number of internet and social network users in Vietnam as of January 2021.

In statistics from the Digital Vietnam in 2021 report, users’ online time from 3.1 hours peaked at 4.2 hours during the pandemic and remains at 3.5 hours per day. The world currently has 7.83 billion people, of which 5.22 billion are mobile phones, 4.66 billion are Internet users and 4.2 billion (53.6%) use social networks.

Meanwhile in Vietnam, there are about 68.17 million Vietnamese online (accounting for 70% of the population) through different platforms and applications. Notably, up to 65 million of them are active social media users (67% of the population) and 99% of them regularly use mobile phones.

97% of Vietnamese have the habit of accessing the Internet every day, of which 95% are watching videos. This figure underlines the importance of using video as a new age marketing form.

Time using the internet on Vietnamese devices.

The coverage of social networking sites in Vietnam is becoming stronger. In 2019, the number of social media users in Vietnam is 62 million. But as of January 2021, the number was 72 million. Of which, 61 million customers can be accessed through advertising on Facebook, 5.4 million on Instagram, 3.3 million on LinkedIn and 1.27 million via Twitter ”.

It is not too much to say that this is the flourishing period of video on social networks, video has become the “king of content” on interactive platforms. According to statistics, every day, there are more than 4 billion video views on YouTube, while the number in Facebook is 5 billion. According to experts: By 2020, 80% of traffic will come from videos and in the near future, video will account for the largest amount of traffic on the Internet.

The data shows that videos with high experience will be more interested in audiences. DIY videos (Do it Yourself), founders’ stories, self-made videos that tell relevant stories … will help brands get closer to their audience, indirectly improve sales and building the brand’s long-term reputation.

In response to Tiktok, Facebook also launched the Instagram Reels platform with similar functionality. The competition between social networks will become increasingly fierce in the coming years.

In addition, the applications on mobile devices make up a small part of consumers’ spending habits. Therefore, retailers take advantage of this advantage to advertise their products. Worldwide, mobile phone transactions are estimated to account for nearly 75% of all e-commerce transactions by 2021. Adoption of marketing strategies on mobile devices is also being used by businesses. step up in 2020 to gain more advantages in the market. Currently in Vietnam, high-traffic applications such as Shopee, Grab … have started implementing advertising activities on their platforms and promise to explode in 2021.

Co-operate

In one way or another, all the basic elements of the World Order have been reshaped. Covid-19 easily crosses international borders; Countries have worked together on strategies to stop the virus. The World Health Organization (WHO) has played an important role in linking countries in modern health. The WHO is an organization that is underperforming when the US, under President Trump, has withdrawn from it.

Bringing the US back to WHO was one of the first orders President Biden made. Some scholars see this thoughtful US cooperation on the international arena as a move to unite against the rise of China. Trump’s “America First” approach means American protectionism, and Biden is said to have taken advantage of the opportunity created by the Covid-19 pandemic to match with allies in Asia.

Security

Countries rarely lean heavily towards human security standards defined by the United Nations in the 1994 United Nations Development Program (UNDP) Human Development report. Food security, economics and Health is one of the important components of human security. The pandemic has facilitated demonstrating the important nature of international institutions and cooperation. Security, therefore, has been redefined; Priorities have been shifted to health security.

The balance of strength

One might say that, in times of pandemic, nations have come together to counter this common challenge. However, this claim has not been endorsed by tough political thinkers. Disruption in the global economy tends to destabilize international politics, so conflict is likely to increase in the post-Covid world. For example, the ongoing economic competition between the US and China is likely to continue to intensify as the two great powers begin to engage in the “New Cold War”.

Covid-19 will reshape the world order; Source: yalibnan.com

The US has blamed China for the spread of SARS-CoV-2, and Trump has repeatedly called SARS-CoV-2 “the Chinese virus”. To neutralize the cause, China is actively researching and developing the Covid-19 vaccine. The crisis has enabled China to prove itself to the world. In the long run, this can shake the balance of power. However, neither China nor the US is in a position to emerge as a “victorious” party in a way that could dramatically alter the balance of world power in favor of either nation.

Vaccine race

Mass production of the Covid-19 vaccine is no less than a space order race or an arms race. Vaccine production Covid-19 is not only a matter of saving lives, an economic and commercial problem, but also a matter of saving the face of some world leaders. Russia, the US, the UK, Germany, India and China are the top competitors in the vaccine race.

Russian President Putin is eager to introduce the vaccine to the world. It would be a sign of prestige in international society and help Russia impose the new world order it contests with. Likewise, China has its own ambitions to lead the world. The redistribution of power in the post-Covid world will depend on the performance of states in containment of the virus.

World financial order

The World Bank estimates a 5.2% decline in the global economy due to the Covid-19 pandemic. Both the US and China are eager to revive Covid-affected economies in one way over the other. Basically, the US is leading the world economy, accounting for a quarter of the world economy; 80% of world trade is in USD.

China aims to change this payment method in international trade. The country is creating competition with the US for global trade by building its own banks. The speed of economic recovery of these two economies will determine the post-Covid financial world order.

Dependence

Both the US and China need allies to compete in the “New Cold War”. The Covid-19 pandemic gave them the opportunity to become allies through medical assistance. The Covid-19 Global Access Facility (COVAX) plans to distribute a large portion of the vaccine to low- and middle-income countries.

The race against coronavirus is exciting due to a variety of causes; Source: reddit.com

In July 2020, China promised to lend Latin America and the Caribbean 1 billion USD. America is also interested in this practice because President Biden is a strong advocate of global institutionalism. COVAX could be a new kind of bailout. If so, the Third Period’s dependence on the First Period would probably increase.

Technology

As an agent with a latent function, Covid has helped drive innovation. Nations with better technology are likely to impose their World Order. During the Covid-19 crisis, there was an exponential growth in technology adoption. This implies that the military will have better strategic equipment than it did in the pre-Covid era. In modern international relations, military power is the core determinant of state power.

Health is an element of national strength

Before the Covid-19 pandemic, elements of state power were military or economic strength. Health has also been shown to be an indirect factor in national strength, the pandemic indicates. Countries with better health have a higher chance of control; Their economies have better prospects for recovery. As a result, “healthy” states have an advantage over others in implementing policies based on their strengths.

Climate Change

Due to the industrial sector restriction during the shutdown, the global economy collapsed. In the first phase, it was thought that the shutdown would be a blessing for climate change. However, to revive the economy, governments of both developed and developing countries have no choice but to reopen their industries. This means more carbon emissions.

Immigration and, as a result, globalization, is perceived as increasing in the post-Covid-19 world; Source: internationalbanker.com

Climate deals are likely to be postponed until the economy resumes operations. Falling oil prices due to the pandemic will make it easier for poorer countries to revive their industries. This is another stumbling block to the way a global economy is carbon-free. As such, the post-Covid world will have negative effects on the climate.

Threats to political rights

The pandemic proved to be unfortunate for the rising Right Wing. Populism, nationalism, and nationalism do not seem to work on right-wing leaders. The Covid-19 pandemic required performance and output rather than speeches and slogans. This is evident from the 2020 US presidential election, which has been widely criticized for being a populist leader. Handling pandemic is one of the main factors that cost him the price in the recent election. Likewise, in other parts of the world, people are asking for better governance, not letting power fall into the hands of the madman.

End of globalization?

Globalization has been severely affected by the pandemic. However, globalization slowed long before the pandemic hit, even before the election of the former US President that the anti-internationalist Trump won. Some scholars predict the end of globalization due to the pandemic; others believe that the pandemic shows how the world is interconnected. They see the potential for development of globalization and cooperation between countries, especially in relation to COVAX.

Jobs are an important part of globalization. Historical data shows that the crises tend to strengthen globalization. Globalization has also helped boost the declining economy. Unemployment has increased dramatically due to a ban in place to stop the spread of the virus. To fix the damage, people will tend to cross international borders. Immigration, as a result, globalization, is likely to increase in the post-Covid world.

The Covid-19 pandemic alone may not completely change the World Order, but the transitions brought about by the pandemic in the international system have the potential to determine the leader of the global political order. The post-Covid world order depends on how and at what speed the world comes out of a pandemic. If the US or China fails to resist vaccine nationalism – restricting the dosage of the Covid-19 vaccine for domestic use, it will be difficult to ally with other countries on their vision of the New World Order. ./.