Israel's remarkable economic performance continued in 2022, a new government coalition led by Mr. Netanyahu took power last December and the country marked its 75th anniversary in April. Yet, instead of celebrations, Israel faces a crisis.
King Charles and Queen Camilla were crowned in Westminster Abbey on May 6th, with a sumptuous ceremony that delighted the planetary watching crowd. Britons who were celebrating the bestowal of the crown upon Charles III with coronation quiche, scones and booze, paid 25 percent higher prices for food since 2019. Economists at the London School of Economics (LSE) estimate that in the absence of Brexit this figure would be about 8 percent lower, meaning that since 2019 British households overall paid an extra GBP 7bn for food, according to the study.
MBaer Merchant Bank AG is pleased to announce a new collaboration with the China Construction Bank Corporation (CCB) as a custodian for the RQFII/QFII program.
Individuals and families are increasingly responsible for their own savings and investment decisions. We will enjoy longer lives and life expectancies are expected to increase. At the same time, the standard of living provided by a given amount of income is likely to fall over time due to inflation, as prices of goods and services more commonly increase rather than decrease. Hence, we need to supplement public and private retirement benefits with additional savings. Retirement readiness requires an intelligent management of money over our lifetimes - saving during our working years and then drawing down assets when we retire, as predicted by the life-cycle model.
History is replete with epic changes of heart. Last December, China stunned the world by announcing the exit from the zero-COVID policy, which had been in place since 2020, when Wuhan declared a full-scale lockdown and COVID was known as SARS-CoV-2. Households and businesses no longer should be worried about lockdowns, but the confidence of consumers and entrepreneurs is fragile and sentiment remains shaky. Hardly a surprise after three years of lockdowns.
Europe's gas and power concerns have been fading recently, driven by a fortuitous combination of a mild winter and lower demand for energy. This is good news. But the current gas prices are not low and Europe's gas supply remains fragile. Elevated energy prices are a significant contributor to inflation and a large drag on European growth for this year, at least.
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