Economics

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Winter is coming: The price of independence

What would be the price for Europe to become independent from Russian energy? Since the end of February, the world’s most advanced economies have been imposing harsher and harsher sanctions against the Putin regime, and global brands have been leaving the Russian market of 144 million people. In addition, there is one measure that would hurt the Russians very much, that is the trade embargo on Russian energy. Over decades, there could be scenarios where the EU becomes independent from Russia.

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The economic shock of 2022: Is the global economy at risk of stagflation?

Last year, many economists were expecting 2022 to be a period of strong economic rebound. Instead, stagflation is again on the cards. After the double shock of COVID-19 and the Russian invasion of Ukraine, inflation rates have exceeded expectations, while economic growth forecasts are rapidly deteriorating. Therefore the prospect of stagflation’s return strikes fear – because there are few monetary tools to address it.
But what is stagflation?

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What Is a Non-Fungible Token (NFT) and How Can You Use Them In Your Business?

Non-fungible tokens (NFTs) are digital assets that are unique and can’t be replaced. What does this mean? Well, NFTs represent ownership of an individual object, person, or brand. Unlike cryptocurrencies like Bitcoin or Ethereum which are fungible (meaning one is interchangeable with another), each NFT is different and operates on the blockchain. There are many ways to take advantage of NFTs to create new business models.

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Global Minimum Tax Endorsed

The Organisation for Economic Cooperation and Development (OECD) announced that participants in October this year had agreed in Paris to apply a uniform corporate tax rate of 15 percent to multinational companies, including tech giants such as Google, Amazon, Facebook, Microsoft, and Apple, in order to make it harder for them to avoid taxation by setting up operations in and shifting their profits to low-tax countries.

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Happy Birthday Burgenland

The easternmost province of Austria is famous for its good wines, beautiful monuments as well as its friendly and hospitable inhabitants. Visitors are impressed by the regional and linguistic diversity, breathtakingly beautiful landscapes and gastronomic delicacies of the county. Burgenland, the region of sunshine, castles, chateaux, thermal waters and excellent wines is celebrating its 100th anniversary.

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