World Welcome to Vienna: Wandering through Austria's capital
Austria back to everyday life: Kurz wants "common sense and few clear rules"
© Provided by Euronews Austria's Chancellor Sebastian Kurz announced further easing after a visa conference with representatives of countries less affected by the coronavirus. Several ministries are currently preparing them. Your browser does not support this video "Our access is as much freedom as possible, but as much restriction as necessary," said the 33-year-old in Vienna.
According to a World Bank report, the pandemic is throwing economies, especially emerging and developing countries, back years. There are several reasons for this.
Thecaused the deepest economic crisis in the post-war period - in all countries around the world. However, while the rich industrialized countries are already overcoming the consequences, the virus is likely to set the emerging and developing countries economically back for years. In any case, the World Bank fears this in its new report on global economic prospects.
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© DANIEL RAMALHO Dominic Thiem will host seven players in Kitzbühel, Austria, for an unofficial tournament from July 7 to 11 Dominic Thiem will host seven tennis players in Kitzbühel (Austria) for an unofficial tournament July 7 to 11, the organizers announced on Saturday.
According to this, the corona crisis is likely to plunge at least 60 million people into absolute poverty this year. "There could be more," said World Bank President David Malpass in Washington on Tuesday.
It is now a matter of how quickly the industrialized countries get their economies going again - and whether they take the situation in developing and emerging countries into account. Since March, more than 100 countries have received relief loans from the International Monetary Fund (IMF). The G20 countries have adopted debt relief for the poorest countries.
While most economists expect industrialized countries to return to growth in the second half of the year at the latest, the World Bank believes it is likely that the recession will be followed by a period of stagnation or very little growth in many poorer countries.
Coronavirus: F1 season set for July 5 start in Austria
The 2020 Formula One season is primed to start with an Austrian Grand Prix double-header in July.Austrian health minister Rudolf Anschober said the Red Bull Ring would host back-to-back races without fans present on consecutive weekends.
Over a five-year period, the recession combined with a financial crisis could cost an average emerging and developing country eight percent growth. If such a country is an additional oil exporter, it could be up to eleven percent, according to the report.
Thek hits poorer countries particularly hard for several reasons: Investments from richer countries are being cut back, international investors are withdrawing their capital. The states themselves are unable to raise funds for economic stimulus programs and emigrants send less money to their countries of origin.
In addition, many parents who work as day laborers can no longer afford the school fees for their children: The setback in the education sector prevents development over a longer period of time, the report says.
facing major problems
For oil exporters such as Nigeria and Ghana, there is also the lack of income due to the fact that the oil price is likely to be lower for a longer period of time. Other commodity prices have also fallen due to weaker demand from the industrialized countries and China. In many African countries, this is exacerbating the recession.
Czech Republic opens border for Germans
Czech Republic opens its border again for citizens from Germany, Austria and Hungary after almost three months. The decision will come into effect on Friday noon (June 5) at 12 noon, as the cabinet decided on Friday morning at a special session in Prague. © Photo: Sebastian Kahnert / dpa-Zentralbild / dpa After almost three months, the Czech Republic is once again giving visitors from Germany, Austria and Hungary free travel. A negative corona test no longer has to be submitted.
The Institute for the World Economy (IfW) is also afraid that those countries in Africa that are not yet part of the global value chain will be excluded from globalization - "even if some African countries generally have the potential to be integrated", write the IfW economists.
The Africa Association of German Business is encouraging companies to consider the neighboring continent if, as a result of the crisis, they want to reduce their dependence on individual suppliers from Asia. "African countries can also become interesting for preliminary products," said the chairman, Stefan Liebing, the Handelsblatt.
First of all, however, the German economy, which had only just begun to discover Africa for investment, switched to withdrawal. "Almost all activities of German companies are being postponed in Africa," said Liebing. Many African countries have introduced sharper shutdown measures than Germany, and employees who are not allowed into the office are hard to reach.
“At any rate, 75 percent of the companies involved in Africa say that their projects are under pressure. We are therefore concerned that everything that Germany has built there over the past five years could be eaten up by the crisis and that we will have to start all over again after Corona, ”said Liebing.
Austria's central bank chief does not rule out ECB share purchases - "Never say never"
Vienna / Berlin, Jun 7 (Reuters) - Austria's central bank chief Robert Holzmann does not rule out that the European Central Bank (ECB) could also buy shares in the future. "Never say never. If there is a need, you will have to have this discussion," said the Governing Council member in an interview published in the newspaper "Die Presse" on Sunday. But there is currently no debate about it.
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Tausendkind: Insolvent online retailer is taken over by Weltbild .
© Tausendkind / t3n Weltbild parent company Droege Group takes over Tausendkind. The children's online shop Tausendkind is taken over by the Weltbild owner. Even if the brand remains, Weltbild wants to integrate a lot of the thousand children. In March of this year, Tausendkind had to file for bankruptcy. Now the Droege Group, the parent company of the Weltbild group, takes over the online shop. The group, which also includes Jokers and Bücher.de, wants to continue to operate Tausendkind as an