The German government will temporarily reduce VAT on gas consumption by three times

The German government plans to reduce the value added tax on gas consumption from 19% to 7%. Benefits will be valid until March 31, 2024. German Chancellor Olaf Scholz announced this. “Today the federal government decided to temporarily reduce VAT on gas to 7%,” he said at a press conference in Berlin (TASS quote). According … Read more

Tinkoff will halve the commission on foreign currency accounts

Tinkoff-Bank announced that from August 2 it will halve the commission for servicing foreign currency accounts. Now it will be 0.5% per month if there are more than 10 thousand conventional units on the account. If there is a smaller amount on the account, the service remains free. On June 9, Tinkoff announced that from … Read more

RIA Novosti: Russian banks will reduce deposit rates by 1-1.5%

Against the background of the decision of the Central Bank to reduce the key rate, Russian commercial banks will reduce rates on savings accounts and deposits by an average of 1-1.5%, showed the results of a survey of credit institutions conducted by RIA Novosti. Some banks expect the minimum value of deposit rates over the … Read more

2023 is not the same as before // EC revised the macro forecast for the eurozone and the European Union

The European Commission (EC) on Thursday, July 14, again worsened the macroeconomic forecast for the countries of the European Union and the euro area. The main revision concerned the growth rates of economies in 2023: they are now expected to be almost one percentage point lower. Inflation expectations have been adjusted upwards – the peak … Read more

VTB will reduce the mortgage rate to 10.5%

VTB, following Sberbank, will lower mortgage rates from June 20. Loans for individual housing construction will be available at a rate of 10.5%, for the purchase of parking spaces and storage rooms – from 10.9%. The conditions apply to both new buildings and the secondary market. The minimum rate will be available, taking into account … Read more

Coinbase to cut staff by 18%

American Coinbase Global Inc. will cut its workforce by 18% as part of a reorganization of operations to keep the business stable during the economic downturn, said chief executive officer and co-founder of the company Brian Armstrong. According to him, the cryptocurrency market after the “economic boom” now. appears to be entering a recession. In … Read more

Reduce to single digits // Falling inflation with a strong ruble and a reduction in income turned out to be not affordable for everyone

The Bank of Russia lowered the key rate to the pre-war level – to 9.5%. At the same time, the government canceled the mandatory sale of foreign exchange earnings by exporters, introduced on February 28. Without taking into account sanctions restrictions, the operation of financial markets within the Russian Federation is now freer than at … Read more

Macron expects the EU to cut Russian oil imports by 92% by the end of 2022

The European Union, as part of the sixth package of sanctions against Russia, will reduce oil imports from Russia by 92%, said French President Emmanuel Macron. According to him, the “common decision” of the EU and the individual commitments of Germany and Poland will make it possible. After agreeing on the package, the head of … Read more