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News about Economy & Business

HANDOUT - 24 February 2022, Belgium, Brussels: Sweden's Prime Minister Magdalena Andersson arrives to attend the Special meeting of the European Council on the situation in Ukraine. Photo: Alexandros Michailidis/EU Council/dpa - ATTENTION: editorial use only and only if the credit mentioned above is referenced in full.

INFLATION

Sweden set to cut fuel tax for car owners amid market turmoil

The Nomad Today/dpa 3/14/22

Additionally, car owners will get a one-off payment of between 1,000 and 1,500 krona while families with kids will see a boost in their living allowance

11 March 2022, Baden-Wuerttemberg, Freiburg im Breisgau: A board displays the prices for different types of fuel at a gas station. Fuel prices are at a record high due to the war in Ukraine. Photo: Philipp von Ditfurth/dpa.

ENERGY

France to knock 15 cents off per litre of petrol to fight price hikes

The Nomad Today/dpa 3/13/22

Speaking to the Le Parisien newspaper, he said the subsidy would be delivered directly at the pump

10 March 2022, France, Versailles: French President Emmanuel Macron (R) receives Dutch Prime Minister Mark Rutte at the Palace of Versailles for the meeting of European Union EU leaders at an informal two-day meeting. The topic is the current development after the Russian attack on Ukraine. Photo: Eric Lalmand/BELGA/dpa.

ENERGY

Netherlands cuts taxes on fuel and energy amid record high costs

The Nomad Today/dpa 3/11/22

In addition, people with low incomes will receive subsidies to compensate for high electricity and gas prices

10 March 2022, Baden-Wuerttemberg, Stuttgart: A customer at a gas station fills his car with diesel fuel. The war in Ukraine has caused fuel prices to rise above the two-euro threshold for the first time. Photo: Marijan Murat/dpa.

CONSUMER PRICES

Electricity, fuel and food raise Spanish inflation to 7.6%

The Nomad Today 3/11/22

This is the largest annual increase in consumer prices since December 1986, according to the Spanish statistics office

28 February 2022, Spain, Barcelona: A view of a hall at the Mobile World Congress mobile communications trade fair. This year's fair is the first major edition of the most important industry gathering in three years in view of the Corona crisis. The organizers expect 40,000 to 60,000 visitors. Photo: Andrej Sokolow/dpa.

ECONOMY

Spain industrial production rises at faster pace

The Nomad Today 3/9/22

Within five sectors, four sectors posted positive annual growth rates in January

WAR IN UKRAINE

Oil prices surge as US bans Russian crude oil imports

The Nomad Today/dpa 3/8/22

Earlier on Tuesday, the US banned all imports of crude oil from Russia

TELECOMMUNICATIONS

Spain's Masmovil and France's Orange announce Spanish joint venture

The Nomad Today 3/8/22

Orange Spain's enterprise value is at €8.1 billion, and Masmovil's enterprise value is at €11.5 billion

WAR IN UKRAINE

Netflix suspends services in Russia

The Nomad Today/dpa 3/7/22

It will now no longer be possible to sign up for a new account in Russia

WAR IN UKRAINE

US, Europe mull Russian oil import ban amid energy supply fears

The Nomad Today/dpa 3/6/22

However, Washington is worried about petrol prices, which have already reached staggering heights

06 March 2022, Russia, Saint Petersburg: The logos of various payment systems with Sberbank written on them are pasted on a window of a store. Russia's largest bank - Sberbank - wants to ensure that people can pay and withdraw money with their cards even after Visa and Mastercard credit cards are switched off. Photo: Igor Russak/dpa.

WAR IN UKRAINE

Credit card companies Visa and Mastercard suspend business in Russia

The Nomad Today/dpa 3/6/22

Russia's largest bank - Sberbank - wants to ensure that people can pay and withdraw money with their cards even after Visa and Mastercard credit cards are switched off

WAR IN UKRAINE

Spanish fashion giant Inditex temporarily closes 502 Russian stores

The Nomad Today/dpa 3/5/22

The parent company of Spanish fast fashion retailer Zara, is set to leave the country, which will mean the temporary closure of 502 stores across Russia

20 June 2020, Spain, Barcelona: People wearing face masks walk along the shopping street Portal del Angel after they were allowed to move freely again as Spain is no longer in a coronavirus emergency. Photo: Jordi Boixareu/ZUMA Wire/dpa

CONSUMER PRICES

Spanish inflation rises to 7.4% in February, a record since 1989

The Nomad Today 2/28/22

Prime Minister Pedro Sanchez and experts have warned that Russia's invasion of Ukraine will likely push energy prices even higher

24 February 2022, Japan, Tokyo: A man walks past an electronic stock exchange board displaying Japan's Nikkei stock index in downtown Tokyo. Japan's Nikkei index fell below 26,000 points on Thursday for the first time since November 2020 after Russian troops attacked Ukraine in the morning. Photo: Rodrigo Reyes Marin/ZUMA Press Wire/dpa.

WAR IN UKRAINE

World markets dive, oil soars as Russia invades Ukraine

The Nomad Today/dpa 2/24/22

The rouble currency meanwhile fell to a record low against the US dollar, losing 6% of its value

A woman shopping for groceries. Photo: Pexels.

TAXATION

VAT rates in Spain: Products with reduced or super-reduced taxes

The Nomad Today 2/17/22

Most of the goods and services sold in Spain are subject to the general VAT rate of 21%

28 October 2021, Ukraine, ---: Facebook CEO Mark Zuckerberg is seen on a video displayed on a smartphone screen as he announces the new name for Facebook. Facebook changed its corporate name to Meta in a nod to the "metaverse." Photo: Pavlo Gonchar/SOPA Images via ZUMA Press Wire/dpa

BUSINESS

US state of Texas sues Meta for facial-recognition without consent

The Nomad Today/dpa 2/15/22

Attorney General Ken Paxton alleged that the social media giant has been storing millions of biometric identifiers, defined by statute as "a retina or iris scan, fingerprint, voiceprint, or record…