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    Dark thoughts haunt Ukrainians in shadow of nuclear crisis

    Dark thoughts haunt Ukrainians in shadow of nuclear crisis

    Parl’t renews confidence in Madbouli’s gov’t, endorses reshuffle

    Parl’t renews confidence in Madbouli’s gov’t, endorses reshuffle

    Parliament approves Cabinet reshuffle

    Parliament approves Cabinet reshuffle

    Sisi calls on par’lt to convene to probe cabinet reshuffle

    Sisi calls on par’lt to convene to probe cabinet reshuffle

    Egypt reaffirms full support for Saudi Arabia’s security, stability

    Egypt reaffirms full support for Saudi Arabia’s security, stability

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    Dark thoughts haunt Ukrainians in shadow of nuclear crisis

    Dark thoughts haunt Ukrainians in shadow of nuclear crisis

    Taiwan thanks US for maintaining security in Taiwan Strait

    Taiwan thanks US for maintaining security in Taiwan Strait

    How ‘pinkflation’ is sending women’s fashion prices soaring

    How ‘pinkflation’ is sending women’s fashion prices soaring

    Broad swathe of China swelters in high temperatures

    Broad swathe of China swelters in high temperatures

    Ex-leader Schroeder sues German Bundestag for removing perks

    Ex-leader Schroeder sues German Bundestag for removing perks

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    Schneider Electric evolves mySchneider IT partner program

    Schneider Electric evolves mySchneider IT partner program

    Telecom Egypt signs a national roaming agreement with Orange Egypt

    Telecom Egypt signs a national roaming agreement with Orange Egypt

    LG Egypt: Virtual brand shop provides unique shopping experience

    LG Egypt: Virtual brand shop provides unique shopping experience

    Wadi Degla selects Freshworks to delight members off the field

    Wadi Degla selects Freshworks to delight members off the field

    ICT Minister witnesses signing of MoU between ITIDA, Valeo

    ICT Minister witnesses signing of MoU between ITIDA, Valeo

    Nokia, EAI sign pact for manufacturing Nokia phones in Egypt

    Nokia, EAI sign pact for manufacturing Nokia phones in Egypt

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      Cabinet approves new decisions to improve business climate

      Cabinet approves new decisions to improve business climate

      Military production min., Egyptian amb. to Sudan confer on boosting co-operation between Egypt, Sudan

      Military production min., Egyptian amb. to Sudan confer on boosting co-operation between Egypt, Sudan

      Saudi Egyptian Company acquires minority stakes in 4 companies

      Saudi Egyptian Company acquires minority stakes in 4 companies

      Egypt’s monthly inflation rate increases by 0.9% in July: CAPMAS

      Egypt’s monthly inflation rate increases by 0.9% in July: CAPMAS

      Analysis: Streamlining business for luring direct investment

      Analysis: Streamlining business for luring direct investment

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      Arab Developers Holding contracts with Incomercial to lease Park Mall in New Cairo

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        Dortmund stage late comeback to claim 3-1 win at Freiburg

        Dortmund stage late comeback to claim 3-1 win at Freiburg

        Liverpool will only sign the ‘right’ players despite injuries, says Klopp

        Liverpool will only sign the ‘right’ players despite injuries, says Klopp

        Kyrgios produces another showstopper to down compatriot de Minaur

        Kyrgios produces another showstopper to down compatriot de Minaur

        Fifa: Start of 2022 World Cup brought forward by one day

        Fifa: Start of 2022 World Cup brought forward by one day

        Fowler, Day make early bid in Memphis to keep season going

        Fowler, Day make early bid in Memphis to keep season going

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        How ‘pinkflation’ is sending women’s fashion prices soaring

        How ‘pinkflation’ is sending women’s fashion prices soaring

        African wildlife parks face climate, infrastructure threats

        African wildlife parks face climate, infrastructure threats

        Egypt conducts hearing screening for 3.4 million children as part of presidential initiative

        Egypt conducts hearing screening for 3.4 million children as part of presidential initiative

        John Hopkins: Coronavirus cases worldwide exceed 586m

        John Hopkins: Coronavirus cases worldwide exceed 586m

        As Spider-Man turns 60, fans reflect on diverse appeal

        As Spider-Man turns 60, fans reflect on diverse appeal

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          3 Egyptian airports among top 10 in Africa

          Fighter jets accompany President Sisi during his visit to Serbia

          Robots used this year to serve pilgrims at Grand Mosque

          Robots used this year to serve pilgrims at Grand Mosque

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          Google faces internal battle over research on AI to speed chip design

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        Dark thoughts haunt Ukrainians in shadow of nuclear crisis

        Dark thoughts haunt Ukrainians in shadow of nuclear crisis

        Parl’t renews confidence in Madbouli’s gov’t, endorses reshuffle

        Parl’t renews confidence in Madbouli’s gov’t, endorses reshuffle

        Parliament approves Cabinet reshuffle

        Parliament approves Cabinet reshuffle

        Sisi calls on par’lt to convene to probe cabinet reshuffle

        Sisi calls on par’lt to convene to probe cabinet reshuffle

        Egypt reaffirms full support for Saudi Arabia’s security, stability

        Egypt reaffirms full support for Saudi Arabia’s security, stability

        • Local
        • Features
      • World
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        Dark thoughts haunt Ukrainians in shadow of nuclear crisis

        Dark thoughts haunt Ukrainians in shadow of nuclear crisis

        Taiwan thanks US for maintaining security in Taiwan Strait

        Taiwan thanks US for maintaining security in Taiwan Strait

        How ‘pinkflation’ is sending women’s fashion prices soaring

        How ‘pinkflation’ is sending women’s fashion prices soaring

        Broad swathe of China swelters in high temperatures

        Broad swathe of China swelters in high temperatures

        Ex-leader Schroeder sues German Bundestag for removing perks

        Ex-leader Schroeder sues German Bundestag for removing perks

        • National Day
      • Technology
        Schneider Electric evolves mySchneider IT partner program

        Schneider Electric evolves mySchneider IT partner program

        Telecom Egypt signs a national roaming agreement with Orange Egypt

        Telecom Egypt signs a national roaming agreement with Orange Egypt

        LG Egypt: Virtual brand shop provides unique shopping experience

        LG Egypt: Virtual brand shop provides unique shopping experience

        Wadi Degla selects Freshworks to delight members off the field

        Wadi Degla selects Freshworks to delight members off the field

        ICT Minister witnesses signing of MoU between ITIDA, Valeo

        ICT Minister witnesses signing of MoU between ITIDA, Valeo

        Nokia, EAI sign pact for manufacturing Nokia phones in Egypt

        Nokia, EAI sign pact for manufacturing Nokia phones in Egypt

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        • BUSINESS
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          Cabinet approves new decisions to improve business climate

          Cabinet approves new decisions to improve business climate

          Military production min., Egyptian amb. to Sudan confer on boosting co-operation between Egypt, Sudan

          Military production min., Egyptian amb. to Sudan confer on boosting co-operation between Egypt, Sudan

          Saudi Egyptian Company acquires minority stakes in 4 companies

          Saudi Egyptian Company acquires minority stakes in 4 companies

          Egypt’s monthly inflation rate increases by 0.9% in July: CAPMAS

          Egypt’s monthly inflation rate increases by 0.9% in July: CAPMAS

          Analysis: Streamlining business for luring direct investment

          Analysis: Streamlining business for luring direct investment

          Arab Developers Holding contracts with Incomercial to lease Park Mall in New Cairo

          Arab Developers Holding contracts with Incomercial to lease Park Mall in New Cairo

          Trending Tags

            • Real State
          • SPORTS
            Dortmund stage late comeback to claim 3-1 win at Freiburg

            Dortmund stage late comeback to claim 3-1 win at Freiburg

            Liverpool will only sign the ‘right’ players despite injuries, says Klopp

            Liverpool will only sign the ‘right’ players despite injuries, says Klopp

            Kyrgios produces another showstopper to down compatriot de Minaur

            Kyrgios produces another showstopper to down compatriot de Minaur

            Fifa: Start of 2022 World Cup brought forward by one day

            Fifa: Start of 2022 World Cup brought forward by one day

            Fowler, Day make early bid in Memphis to keep season going

            Fowler, Day make early bid in Memphis to keep season going

          • ENTERTAINMENT
            • All
            • Arts
            • Health
            • Lifestyle
            • Travel
            How ‘pinkflation’ is sending women’s fashion prices soaring

            How ‘pinkflation’ is sending women’s fashion prices soaring

            African wildlife parks face climate, infrastructure threats

            African wildlife parks face climate, infrastructure threats

            Egypt conducts hearing screening for 3.4 million children as part of presidential initiative

            Egypt conducts hearing screening for 3.4 million children as part of presidential initiative

            John Hopkins: Coronavirus cases worldwide exceed 586m

            John Hopkins: Coronavirus cases worldwide exceed 586m

            As Spider-Man turns 60, fans reflect on diverse appeal

            As Spider-Man turns 60, fans reflect on diverse appeal

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              3 Egyptian airports among top 10 in Africa

              Fighter jets accompany President Sisi during his visit to Serbia

              Robots used this year to serve pilgrims at Grand Mosque

              Robots used this year to serve pilgrims at Grand Mosque

              Google faces internal battle over research on AI to speed chip design

              Google faces internal battle over research on AI to speed chip design

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          Home Business

          Omicron leaves Germany on brink of recession as growth dips

          by News Wires
          January 15, 2022
          in Business, Health
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          Omicron leaves Germany on brink of recession as growth dips

          A shop advertises more reduced prizes in the city center of Essen, Germany on Jan. 12, 2021.

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          FRANKFURT, Germany – The risk of recession is looming for Germany after Europe´s biggest economy shrank at the end of 2021 and as it faces a bumpy start to this year, with the rapid spread of COVID-19’s omicron variant deterring people from shopping and travel and supply bottlenecks holding back manufacturers.

          Output in Germany fell by between 0.5% and 1% in the fourth quarter, the state statistics agency Destatis said according to AP. Forecasts are also shaky for the first three months of 2022, and two straight quarters of falling output would leave Germany in recession, according to one commonly used definition.

          Germany helps set the pace for the entire eurozone, the 19 European Union countries that use the euro currency and one of the world’s largest economies. Many German companies have suppliers or factories in other European countries, so Germany’s business activity can boost growth for its neighbors.

          For all of last year, the German economy grew 2.7%, rebounding from a plunge of 4.6% in 2020 when pandemic lockdowns were at their most severe.

          One company – vaccine maker BioNTech, which is based in Mainz – contributed a full 0.5% to 2021 economic output from licensing income on the COVID-19 vaccine it developed with Pfizer.

          “It is extremely unusual that one company lifts GDP so much,” said economist Nils Jannsen at the Kiel Institute for the World Economy, referring to gross domestic product, the common measure of a country´s economic output.

          He said the jump was due to the complete absence of BioNTech licensing income the year before.

          German growth remains below its pre-pandemic level and lags the estimated eurozone figure of 5% as performance was less robust than several other major economies such as France, Spain and Italy.

          Germany’s manufacturing and export-heavy economy was hit hard by global difficulties in getting parts and raw materials, leaving companies unable to sell goods despite strong demand from customers as the economy roared back from the depths of the pandemic, said Carsten Brzeski, global head of macro at ING bank.

          “No other eurozone country suffered as much as the German economy amid a series of supply chain frictions,” he wrote in a research email. “Industrial production has basically stagnated since spring last year, despite richly filled order books and very low inventories.”

          Tags: GermanyGrowthOmicronRecession
          News Wires

          News Wires

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