President Yoon Seok-yeol visits the traditional market in the eastern part of Seosan, South Chungcheong Province on the 26th and greets citizens and traders as the government and banks implement a ‘small business financial support package’ worth a total of 2.9 trillion won. [사진=연합뉴스]
The Office of the President announced on the 26th, “On the 29th, the government will refund a total of 300 billion won in interest, up to 1.5 million won, to 400,000 small business owners who received high interest loans from institutions secondary financial institutions such as savings banks and mutual financial institutions.”
Spokesperson Kim Soo-kyung issued a written briefing on this day and said, “President Yoon Seok-yeol’s first promise in the presidential election is to revive small business owners and self-employed people,” and added, “Our government’s first national task is also recovery and progress for small business owners and self-employed people affected by the coronavirus.” He added, “Moving forward, the government will strive to become a warm government that supports small business owners and a government that acts to solve people’s livelihood problems.”
According to the Office of the President, President Yoon attended the ‘Korea Small Business Convention’ in November last year for the first time as a sitting president and instructed the relevant ministries to quickly prepare special support measures to reduce the financial burden of small high interest .
The German Economy Has Contracted 2024-02-26 11:01:35
Germany’s GDP in the fourth quarter of 2023 decreased by 0.3% compared to the previous three months, according to final data from the statistical agency, Day.Az reports with reference to Interfax.
According to the results of the second and third quarters, a zero change in the volume of the economy was recorded; in the first quarter it grew by 0.1%.
The final data coincided with the previously announced ones. Analysts also did not expect a revision.
Business capital investments in the fourth quarter decreased by 1.9%, including in the construction sector – by 1.7% and mechanical engineering – by 3.5%.
Meanwhile, consumer spending increased by 0.2%, government spending by 0.3%.
Exports decreased by 1.6%, imports by 1.7%.
German GDP, adjusted for the number of working days, decreased by 0.2% in October-December compared to the same period in 2022. Thus, the German economy contracted in annual terms for the second quarter in a row, which corresponds to the technical definition of a recession, Trading Economics notes. The last time a recession was recorded in Germany was in 2020-2021.
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Breakthrough Weight-Loss Drug Propels Zealand Pharma To 32%…
The Pharma Industry’s Weight-Loss Drug Gold Rush
Vials move along a conveyor at the Novo Nordisk A/S production facilities in Hillerod, Denmark, on Monday, June 12, 2023. The success of Novo’s bestsellers Ozempic and Wegovy, drugs that help people lose significant amounts of weight, has sparked a frenzy in the pharma industry with approximately 40 companies developing products to ramp up competition.
Bloomberg | Bloomberg | Getty Images
Zealand Pharma’s Breakthrough in Liver Disease Treatment
Shares of Denmark’s Zealand Pharma surged following positive results from a trial of a liver disease treatment that could rival the booming weight-loss drug market.
The Phase 2 trial of the survodutide drug revealed that 83% of adults experienced positive outcomes for a form of liver inflammation known as “MASH,” the company announced on Monday.
Survodutide’s Potential in Obesity Research
The drug has shown effectiveness in individuals with obesity and is currently undergoing five Phase-3 trials in a clinical program for overweight or obese individuals. It has received fast-track designation from the U.S. Food and Drug Administration.
Analysts are optimistic about the drug’s efficacy in obesity research following recent test results, highlighting the safety of the highest dosage tested in the trial.
BCB: The State Denounces The Agreement Creating The…
2024-02-26 09:20:34
We know more about the state of health of the Commercial Bank of Burkina (BCB). During the holding of the 5th Burkina Faso-Libya joint cooperation commission, the Burkinabe government denounced the agreement creating the bank.
“After 36 years of operation, the BCB is still faced with major difficulties which do not allow it to adequately achieve its objectives and comply with the requirements of the regulations in force at the national and sub-regional level,” we can say. read in the press release from the Ministry of the Economy.
We learn that since 1988, the State has supported 7 recapitalization operations for the benefit of the bank. Amount injected, 50 billion CFA francs. In addition, 177 billion FCFA of term deposits were operated by Burkinabè state companies as of December 31, 2023, to allow the BCB to operate.
“Faced with the status quo, many other functional difficulties and having not obtained any efforts from its partner, the Burkinabè State which holds 50% of the shares, in the same way as the Libyan party represented by the Libyan Foreign Bank, decided on December 12, 2023, to denounce the convention,” the press release continued.
As a reminder,
Customs Invests In Human Capital
Customs is equipped with new equipment.
Customs claims to be more committed to developing its human capital, as highlighted in its strategic plan. This orientation which “takes shape through initiatives aimed at improving the working conditions of its agents and modernizing its infrastructure across the country”.
One of the recent examples of this commitment is the inauguration of the withdrawal room at the Ivato customs office, marked by the presence of Ravinala Airports, manager of the premises. This new facility includes two separate dormitories and an equipped kitchen. These arrangements aim to offer employees a more comfortable working environment conducive to relaxation, thus promoting their well-being and productivity. This project, described as innovative, is not limited to Ivato, because Customs plans to replicate these developments in all its offices across the country. This approach, it was argued, demonstrates the administration’s continued commitment to its agents and its concern to offer optimal working conditions to all of its staff.
In addition, the General Directorate of Customs has set up a health center in Nanisana. According to the explanations provided, this initiative strengthens the support and services available to staff. During the official inauguration ceremony, the Director General took the opportunity to present computers donated by the African Development Bank (AfDB) as part of the Corridor Development Project to the Ivato Airport office and Mamory.
Waiting For A Decade Breakthrough
Mr. Nguyen Dang Quang (born 1963, in Quang Tri) graduated with a PhD in Nuclear Physics from the Belarusian Academy of Sciences. After finishing his studies, he stayed in Russia and started his business in the 1990s by selling instant noodles to Vietnamese people living here, then investing in soybeans, fish and chili sauce. In 2002, Mr. Quang returned home and developed products such as Chinsu soy sauce, Chinsu chili sauce, Nam Ngu fish sauce, Omachi noodles, Ponnie sausage, Vinacafe coffee…
Masan Group is one of the largest enterprises in the consumer and retail segment, after buying the Vinmart chain from billionaire Pham Nhat Vuong and changing its name to Winmart.
Mr. Quang is the person who spent billions of dollars to continue the dream of billionaire Pham Nhat Vuong, developing a retail system of Vietnamese goods, which was once overwhelmed by many foreign retail corporations.
Recently, many foreign retailers such as AEON of Japan, GO of Thailand… have developed quite strongly, but the Winmart system continues to restructure and expand strongly. This is a channel that sells many types of Vietnamese goods, including Masan’s own consumer goods.
In 2023, Masan recorded a positive growth in net revenue compared to the previous year to nearly 78.3 trillion VND even though consumption in the domestic market decreased.
Russia Empties Its Coffers With War In Ukraine.…
#Russia #empties #coffers #war #Ukraine #long #hold
The war in Ukraine is emptying Russian coffers. The Russian sovereign wealth fund (NWF) has lost 50% of its reserves to $55 billion since February 24, 2022, when Russian tanks invaded Ukraine.
The priority has been to use this money to finance the State Budget and public companies. Part of the revenue from the sale of oil and gas goes to this fund, which aims to serve as a lifeline for the country in times of need.
In February 2022, this fund held 113 billion dollars (equivalent to 6.6% of the country’s GDP), having dropped to 55 billion (2.7% of GDP) since then. At the same time, the country has US$300 billion in reserves held abroad.
There is more spending on the way: the State Budget for this year foresees spending of 1.3 billion rubles (12 billion euros), with a further 900 billion rubles (8.9 billion euros) for projects and companies , according to “”. In 2023 alone, the Government took 3.46 billion rubles from the NWF to cover OE expenses and another billion for other expenses.
Asian giants buy everything
Russia sold almost all of its oil exports to China and India in 2023.
Cinema Operators And Film Studios Struggle Post-New Year:…
The period after the New Year is a nightmare for cinema operators and film studios. As is often the case, many experts predicted the situation in advance, especially as a result of last year’s Hollywood strike, which caused the postponement of many attractive blockbusters to the later months of this year. While we will be inundated with one spectacular film after another in the spring, there is practically nothing to go on at the moment. For that reason, global and also Czech attendance at cinemas has fallen to historic lows comparable to the period of lockdowns a few years ago. They don’t even go to Prachar in droves anymore
Compared to the summer season, the winter season is almost every year poor in interesting news and is mainly filled with Oscar candidates. Nevertheless, every now and then there is a hit with the audience that takes full advantage of the combination of zero competition and the cold weather outside. From a global point of view, it should have been Sony’s comic book Madam Web this year. You could already guess from the advertising campaign that, on the contrary, a giant flop is rushing to the cinemas, which will burn out both among the audience and financially,
Raw Material Deposits And Poverty Poverty Despite Resource…
Contents
Large reserves of raw materials can mean that a country ends up worse off than without the raw materials. How come?
What is meant by resource curse? Resource curse or resource trap describes the phenomenon that a country is rich in raw materials, but this wealth can lead to negative consequences for a country. A country can end up worse off than without the valuable raw materials.
What are the risks associated with a new raw material deposit? When large reserves of raw materials are found in a poor country, great hopes are raised. But the occurrence also comes with risks. The development economist Fritz Brugger from ETH Zurich names possible risks in three areas:
Access: How is access to these raw materials regulated? What contractual conditions are negotiated with the mining companies?The mining: W hat are the environmental impacts? How will local communities living in the resource-rich area be treated? What is particularly important for appreciation is how closely the raw materials companies are connected to the local economy. Do they use local suppliers? Are the raw materials processed in your own country?The income: Does all the revenue that the country is entitled to really end up in the state treasury?