Category: ECONOMY

eu

Taxation: Council adopts new rules to strengthen administrative cooperation and include sales through digital platforms

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The European Council adopted new rules to improve administrative cooperation in the field of taxation and address the challenges posed by the digital platform economy. A large and growing number of individuals and businesses use digital platforms to sell goods or provide services. However, income earned through digital platforms is often unreported and tax is […]

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Pololikashvili

UNWTO recognizes world’s best innovators facing up to COVID-19

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The top solutions for accelerating the recovery of tourism have been celebrated in the ‘Healing Solutions for Tourism’ Challenge. Launched by the World Tourism Organization (UNWTO) with the support of the World Health Organization (WHO) and with the aim of identifying start-ups with ready-to-implement ideas for mitigating the impact of COVID-19 on the sector, the […]

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IMF: COVID-19 Crisis Poses Threat to Financial Stability

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The COVID-19 pandemic has caused an unprecedented human and health crisis. The measures necessary to contain the virus have triggered an economic downturn. At this point, there is great uncertainty about its severity and length. The latest Global Financial Stability Report shows that the financial system has already felt a dramatic impact, and a further intensification of the crisis […]

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IMF: Fiscal Policies to Contain the Damage from COVID-19

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In its recent publication, the IMF suggests the appropriate Fiscal Policies to contain and mitigate the damage from COVID-19. In times of pandemic, fiscal policy is key to save lives and protect people. Governments have to do whatever it takes. But they must make sure to keep the receipts. So far, countries have taken fiscal actions […]

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IATA: COVID-19 Puts Over Half of 2020 Passenger Revenues at Risk

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The International Air Transport Association (IATA) released an updated analysis showing that the COVID-19 crisis will see airline passenger revenues drop by $314 billion in 2020, a 55% decline compared to 2019. On 24 March IATA estimated $252 billion in lost revenues (-44% vs. 2019) in a scenario with severe travel restrictions lasting three months. […]

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wttc

WTTC: EU Travel & Tourism sector will be critical to the EU’s economic recovery

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A major new report by WTTC has revealed Travel & Tourism’s crucial contribution to help re-energise the EU’s economic recovery once the COVID-19 pandemic has been successfully combatted. The publication by the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, of its annual Economic Impact Report (EIR), shows […]

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European Commission approves €1.2 billion Greek scheme providing grants for SMEs to support economy in coronavirus outbreak

editor657Leave a Comment on European Commission approves €1.2 billion Greek scheme providing grants for SMEs to support economy in coronavirus outbreak

The European Commission has approved a €1.2 billion Greek aid scheme to support the Greek economy in the context of the coronavirus outbreak. The scheme was approved under the State aid Temporary Framework adopted by the Commission on 19 March 2020, as amended on 3 April 2020. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “Small and […]

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wttc

WTTC Implores G20 to take immediate action in order to save the tourism sector

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World tourism leaders have been urged by WTTC to execute crucial measures to save the Travel & Tourism sector, ahead of a special meeting of the G20 hosted by the Kingdom of Saudi Arabia today. The call was made by the World Travel & Tourism Council (WTTC), which represents the global Travel & Tourism private sector, […]

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WTTC: 75 million jobs at risk | Losses up to 2.1 trillion dollars

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Up to 75 million jobs are at immediate risk in global Travel & Tourism due to the coronavirus pandemic, according to the World Travel & Tourism Council (WTTC). The alarming figure, based on research from WTTC, shows a punishing Travel & Tourism GDP loss to the world economy of up to US$2.1 trillion in 2020. […]

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Pololikashvili

UNWTO: Calling on Innovators and Enterpreneurs to accelerate tourism recovery

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In the face of an unprecedented challenge, the World Tourism Organization (UNWTO), with the support of the World Health Organization (WHO), calls on innovators and entrepreneurs to put forward new solutions to help the tourism sector recover from COVID-19. With millions of jobs at risk as the pandemic hits tourism harder than any other sector, […]

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