A salesman waits for customers on a farmer’s market in the northern German town of Hamburg. Reuters
The German government’s council of economic advisers more than halved its growth forecast for Europe’s largest economy on Wednesday and flagged a “substantial” recession risk as a result of Russia’s invasion of Ukraine.
Businesses across the eurozone stumbled into the second quarter as demand remained weak despite more modest price rises, surveys showed on Thursday. Growth stuttered in Germany and forward-looking indicators in its Purchasing Managers’ Index suggest a contraction among manufacturers
The euro languished near a 22-month low on Thursday, weighed down by ailing growth in Germany and the spectre of political uncertainty in Spain. A surprise drop in German business morale has highlighted the divergence between economic data in the United States and the eurozone.
The company announced two weeks ago that it would cancel 900 connections in July. Now it will take out of the system a further 2,200 of a total of 80,000 flights, Lufthansa said, dpa news agency reported.
According to data from hotel management analytics firm STR, Dubai ranked No.1 globally in hotel occupancy, ahead of other international destinations including New York, London and Paris for the January-April 2022 period.
A day after endorsing Ukraine’s candidacy to join the European Union, the bloc’s leaders turned their attention on Friday to the severe economic turbulence looming over