Connect with us

Economic Indicators

Chancellor Scholz’s SPD party faces test in key state vote

Published

on

2/2

© Reuters. FILE PHOTO: Social Democratic Party (SPD) German Chancellor Olaf Scholz attends an election campaign rally of top candidate for North-Rhine Westphalian federal state election Thomas Kutschaty in Cologne, Germany, May 13, 2022. REUTERS/Benjamin Westhof

2/2

By Riham Alkousaa

BERLIN (Reuters) – An election in Germany’s most populous state on Sunday poses an early test for Chancellor Olaf Scholz’s Social Democrats five months after he took office with a domestic policy focus that was quickly eclipsed by the war in Ukraine.

“North Rhine-Westphalia always sends an important signal for federal politics,” said Nico Siegel, the executive director of pollster Infratest dimap.

The centre-left Social Democrats (SPD) dominated North Rhine-Westphalia (NRW) — home to more than a fifth of Germany’s population and to the rust-belt Ruhr region — for most of the past half century.

But the party lost to former Chancellor Angela Merkel’s conservatives (CDU) in its worst state election in 2017, under attack for its failure to tackle traffic jams and a rising crime rate. A few months later, it also suffered a record defeat at the federal level.

Ahead of Sunday’s vote, the two parties were very close in the polls, with the CDU having a slight lead at 32% versus 28% for the SPD in a survey published by INSA on Thursday.

“An election victory would radiate, in a positive sense, into discussions about the SPD’s strength in the federal government and Olaf Scholz’s popularity,” Siegel said

The NRW election is also seen giving a boost to Germany’s environmentalist Greens party, which could become kingmaker.

The CDU has governed the state in a coalition with business friendly FDP since 2017. But even with its slight lead over the SPD, it might not be able to secure a majority with just the FDP, which stood at 8% in the polls.

The Greens most recently polled around 16%, which means either party is likely to need the Greens to form a state government.

LOCAL ISSUES

Last week, the CDU won by a landslide in the considerably smaller northern state of Schleswig-Holstein, but in NRW it will have a much harder time securing votes.

Local issues such as affordable rents and public transport are usually what determines voters’ decisions in state elections.

Siegel said there was no dominant topic determining voters’ behaviour across parties. In 2017, the CDU won the vote by focusing its campaign on traffic jams, rising crime and an underperforming education system.

Manfred Guellner, head of pollster Forsa, told Reuters that job security and the impact of structural change from the dismantling of the coal-fired power plants were important issues on voters’ minds.

The CDU’s win in Schleswig-Holstein was seen partly driven by the popularity of state premier Daniel Guenther. In NRW, its candidate Hendrik Wuest only just took office in October and has not had time to build a following.

Wuest is running against Thomas Kutschaty, the SPD candidate, who served as a minister of justice in the state from 2010 until 2017.

The fact that the state is the home turf of CDU leader Friedrich Merz is also not expected to help the party win the election. A Forsa survey published on Wednesday showed that only 13% of Germans believe that Merz would be a better candidate for chancellor than Scholz.

“To put it bluntly, Merz does not help at all, on the contrary,” Forsa’s Guellner said.

Economic Indicators

Mexico to suspend import duties on food staples to tackle inflation

Published

on


© Reuters. FILE PHOTO: Customers buy tomatoes at a street market, in Mexico City, Mexico December 17, 2021. REUTERS/Luis Cortes

MEXICO CITY (Reuters) – Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said in its official gazette on Monday.

The products on the government list included corn oil, rice, tuna, pork, chicken, beef, onions, jalapeño peppers, beans, corn flour, wheat flour, eggs, tomatoes, milk, lemons, white corn, apples, oranges, wheat and carrots.

Bread, potatoes, pasta for soup, sardines, sorghum and hand soap were also listed in the decree.

Duties would also be suspended on imports of live cattle, pigs, sheep, goats and chickens, the government said.

The government said the waiver on the household staples would take effect from Tuesday and be in force for a year. The waiver on livestock would enter force pending the approval of Mexico’s foreign trade commission, it added.

The measures could be extended for another year, it added.

Continue Reading

Economic Indicators

Brazil’s govt debt falls to 78.5% of GDP in March

Published

on


© Reuters. People walk in front the Central Bank headquarters building in Brasilia, Brazil March 22, 2022. REUTERS/Adriano Machado/File Photo

BRASILIA (Reuters) – Brazil’s government debt as a share of gross domestic product fell to 78.5% in March from 79.2% in February, central bank figures showed on Monday.

The public sector recorded a primary surplus of 4.3 billion reais ($846.54 million) in March, posting a surplus equivalent to 1.37% of GDP in the 12 months. The data was released late due to an ongoing strike by central bank employees.

($1 = 5.0795 reais)

Continue Reading

Economic Indicators

Mexico to suspend import duties on foods to help curb inflation

Published

on


© Reuters. FILE PHOTO: Customers buy tomatoes at a street market, in Mexico City, Mexico December 17, 2021. REUTERS/Luis Cortes

MEXICO CITY (Reuters) -Mexico will waive import duties for one year on a range of household staples, most of them foodstuffs, in a bid to curb inflation, the government said in its official gazette on Monday.

The products on the government list https://www.dof.gob.mx/nota_detalle.php?codigo=5652070&fecha=16/05/2022 included corn oil, rice, tuna, pork, chicken, beef, onions, jalapeño peppers, beans, corn flour, wheat flour, eggs, tomatoes, milk, lemons, white corn, apples, oranges, wheat and carrots.

Bread, potatoes, pasta for soup, sardines, sorghum and hand soap were also listed in the decree.

Duties would also be suspended on imports of live cattle, pigs, sheep, goats and chickens, the government said.

The government said the waiver on the household staples would take effect from Tuesday and be in force for a year. The waiver on livestock would enter force pending the approval of Mexico’s foreign trade commission, it added.

The measures could be extended for another year, it added.

Continue Reading

News

Cryptocurrency27 mins ago

Do Kwon proposes Terra hard fork to save ecosystem

Do Kwon proposes Terra hard fork to save ecosystem On Monday, Do Kwon, co-founder of the troubled Terra Luna blockchain,...

Cryptocurrency27 mins ago

Brazilian Stock Exchange set to launch Bitcoin and Ethereum futures

Brazilian Stock Exchange set to launch Bitcoin and Ethereum futures The Brazilian Stock Exchange, B3, is set to launch its...

Stock Markets27 mins ago

Abbott, FDA enter deal over reopening of baby formula facility in Michigan

© Reuters. FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in...

World27 mins ago

California law requiring women on company boards struck down

© Reuters. FILE PHOTO: A view of the skyline of downtown Los Angeles, California, U.S., March 22, 2022. REUTERS/Mike Blake...

Stock Markets27 mins ago

Take-Two Shares Gain 3% Following Q4 Earnings Beat

© Reuters. Take-Two Shares Gain 3% Following Q4 Earnings Beat Take-Two Interactive Software (NASDAQ:TTWO) shares were trading around 3% higher...

Stock Markets27 mins ago

Retail Sales, Walmart Earnings, Home Depot: 3 Things to Watch

© Reuters. By Liz Moyer Investing.com — Stocks wobbled on Monday ahead of a key economic data report and amid...

Commodities28 mins ago

After fires and floods, climate-conscious independents could determine Australian election

3/3 © Reuters. Local residents Fiona and Ian Stuart stand near blackened trees on their property, burnt during the bushfires...

World57 mins ago

California church shooter was motivated by hate, politics

4/4 © Reuters. The Geneva Presbyterian Church is seen after a deadly shooting, in Laguna Woods, California, U.S. May 15,...

Stock Markets57 mins ago

Tencent Music quarterly revenue falls as competition heats up

© Reuters. FILE PHOTO: The logo of China’s Tencent Music Entertainment Group is seen next to an earphone in this...

Stock Markets57 mins ago

S&P 500 ends lower as Tesla falls, while energy rallies

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May...

World57 mins ago

Steelworks defenders appear to signal end of Mariupol siege

2/2 © Reuters. FILE PHOTO: A local resident rides a bicycle past a charred armoured vehicle during Ukraine-Russia conflict in...

Stock Markets57 mins ago

Musk tells conference a lower price for Twitter might be appropriate

© Reuters. FILE PHOTO: A 3D-printed Twitter logo on non-3D printed Twitter logos is seen in this picture illustration taken...

Stock Markets58 mins ago

FDA to soon authorize Pfizer’s COVID booster shot for younger kids – NYT

© Reuters. FILE PHOTO: Empty vials of the Pfizer-BioNTech coronavirus disease (COVID-19) vaccine are seen at The Michener Institute, in...

Cryptocurrency58 mins ago

Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB

Price analysis 5/16: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, AVAX, SHIB The selling in Bitcoin (BTC) is showing...

World1 hour ago

New York congressional map deals blow to Democrats’ midterm hopes

© Reuters. FILE PHOTO: A “Vote” sign is pictured on election day in the Manhattan borough of New York City,...

Coronavirus1 hour ago

FDA declines to authorize common antidepressant as COVID treatment

© Reuters. FILE PHOTO: Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland,...

Stock Markets1 hour ago

Wall Street ends lower as Tesla falls, while energy rallies

© Reuters. Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., May...

Coronavirus1 hour ago

Coronavirus may be linked to cases of severe hepatitis in children

© Reuters. A firefighter from the Marins-Pompiers of Marseille (Marseille Naval Fire Battalion) administers a nasal swab to a child...

Stock Markets1 hour ago

Take-Two Earnings Miss, Revenue Beats In Q4

© Reuters. Take-Two Earnings Miss, Revenue Beats In Q4 Investing.com – Take-Two (NASDAQ:TTWO) reported on Monday fourth quarter earnings that...

World1 hour ago

Biden approves redeployment of under 500 ground troops to Somalia

© Reuters. U.S. President Joe Biden delivers remarks at the annual National Peace Officers’ Memorial Service at the U.S. Capitol...

World2 hours ago

Factbox-Buffalo shooting victims included deacon, retired cop, grocery worker

© Reuters. Roberta Drury, who was among those who lost their lives in the TOPS supermarket shooting in Buffalo, New...

Stock Markets2 hours ago

Explainer-What happened with Abbott baby formula that worsened a U.S. shortage?

© Reuters. FILE PHOTO: Abbott Laboratories logo is displayed on a screen at the New York Stock Exchange (NYSE) in...

Cryptocurrency2 hours ago

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS

Top 5 cryptocurrencies to watch this week: BTC, MANA, MKR, ZEC, KCS Bitcoin (BTC) has been relatively calm during the...

Politics2 hours ago

U.S. Supreme Court backs Ted Cruz, dumps campaign finance curb

© Reuters. FILE PHOTO: Sen. Ted Cruz (R-TX) speaks during a hearing of the Senate Foreign Relations to examine U.S.-Russia...

Stock Markets2 hours ago

Musk Says Twitter Deal at Lower Price ‘Not Out of the Question’

© Reuters By Yasin Ebrahim  Investing.com — Elon Musk said Monday that a cut-price deal for Twitter wouldn’t be “out...

Sports & General2 hours ago

Amber Heard says she feared she would not survive Johnny Depp marriage

3/3 © Reuters. FILE PHOTO: Actor Johnny Depp reacts as he leaves for a recess during a defamation trial against...

Economy2 hours ago

Dollar slips from 2-decade highs; yuan falls on weak China data

© Reuters. FILE PHOTO: U.S. dollar banknotes are displayed in this illustration taken, February 14, 2022. REUTERS/Dado Ruvic By Sinéad...

Economy2 hours ago

Taliban dissolve Afghanistan’s Human Rights Commission, other key bodies

© Reuters. FILE PHOTO: An Afghan woman walks on a street in Kabul, Afghanistan, May 9, 2022. REUTERS/Ali Khara/File Photo...

Cryptocurrency2 hours ago

Crypto capital gains one of four key areas for Australian Tax Office

Crypto capital gains one of four key areas for Australian Tax Office The Australian Taxation Office (ATO) has outlined crypto...

Economy2 hours ago

U.S. SEC chair says much to be done to protect crypto investors

2/2 © Reuters. FILE PHOTO: Representations of virtual cryptocurrencies are placed on U.S. dollar banknotes in this illustration taken November...

Trending