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74 countries are at risk of bankruptcy due to the pandemic

The World Bank warns of the possibility of defaults of the poorest countries of the world due to debts that arose against the background of the pandemic. In 2022, payments on loans and credits taken by a group of 74 states from international financial organizations and individuals will amount to about $35 billion. This is 45% more than they paid last year. Experts attribute the growth in loan ...

Austrian manufacturer of chocolates Mozart is driven to bankruptcy by pandemic

... everything necessary will be done so that on the Christmas Eve, the employees do not have to worry about the current financial situation. The head of the company Christian Schuegerl, in his address to the public, said that the reason for the bankruptcy was a pandemic, which caused significant logistics costs and a drop in demand. Reduced tourist flows and the Austrians' savings on organizing holidays and other celebrations led to the fact that shops selling sweets in Salzburg and the capital Vienna were temporarily ...

COVID-19 PANDEMIC LED TO THE INCREASE IN THE NUMBER OF LARGE BANKRUPTCIES IN JAPAN

... the beginning of the year, experts from Tokyo Shoko Research noted a decrease in the number of 2020 bankruptcies. The rating agency then stated that the number of small businesses with debts of less than 10 million yen, which went bankrupt due to the pandemic, increased by 23%. This was due to the action of government support measures provided to the small and medium-sized businesses. Self-isolation and the shift to remote forms of business have resulted in the telecommunications and retail industries ...

SERVICE OF BUSINESS INSURANCE AGAINST RISKS OF PANDEMIC MAY BE INTRODUCED IN RUSSIA

The insurers proposed to introduce a new insurance product - the client's property interests associated with the risk of losses from entrepreneurial activity when the conditions for its implementation change. In this case, the occurrence of a pandemic of a disease unknown to science may become an insured event. Small and medium-sized businesses are offered to be insured in this way. It was noted that the occurrence of an insured event takes place when the Russian Government or regional authorities ...

IMF PROPOSED TO INTRODUCE A TAX ON PANDEMIC WINNERS AND PROFITABLE COMPANIES

The International Monetary Fund has announced an initiative to introduce a "solidarity tax" that could be applied to high earners that made huge profits during the pandemic. It is assumed that this will not only provide additional income, but also improve the situation with social inequality. The IMF published a statement in its April Fiscal Monitor. The organization proposes to introduce a temporary tax on excess ...

42 VICTIMS OF PANDEMIC: WHAT AIRLINES HAVE BEEN DRIVEN INTO BANKRUPTCY

Aviation has undoubtedly been one of the main victims of the COVID-19 pandemic. Only the sector of tourism can boast of comparable data on the amount of financial damage. However, as evidenced by the data presented by the specialists of the analytical company Cirium, the number of air carriers that went bankrupt turned ...

The Most contagious: WHO warns of a new subvariant of Omicron

The World Health Organization has warned of the spread of what is probably the most contagious strain of the coronavirus. This is a subvariant of Omicron XE, which is more infectious than the previously identified Omicron BA.2. It is now increasingly dominant in the United States. According to the preliminary estimates, the new sub-variant may be 10% more infectious than its predecessor, but it is difficult to say for sure. XE was discovered in the UK in mid-January this year. Then about 700...

Stray cats saved Japanese restaurant from bankruptcy

An unusual ‘cat cafe’ appeared in Japan as a result of compassion for homeless animals, shown by the owner of a small restaurant in Osaka. A railroad-themed catering establishment that had been successfully operating before the pandemic, began to collapse. Its owner Naoki Teraoka began to consider liquidation of his business as financial aid from the state dwindled. But then a case intervened in the life of the owner in the face of a sickly kitten, wandering near the restaurant....

Companies of what industries were more likely to go bankrupt in 2021?

... number of bankruptcies in 2021 exceeded the same indicator in 2020 by 3.4%. At the same time, in 2020, there was a government moratorium on initiating insolvency proceedings for companies of industries that were the most affected by the coronavirus pandemic. Experts attribute relatively low increase in the number of bankruptcies to the increased level of income of companies compared to 2020. In the first nine months of 2021 alone, almost 3 times more was earned than in the same period of 2020. However,...

About 100 thousand people may get infected daily due to the spread of Omicron strain in Russia

A new strain of coronavirus called Omicron, which has been discovered not so long ago, has already reached Russia. According to the Russian Federal State Agency for Health and Consumer Rights, cases of infection were recorded in different regions of the country, including both capitals and their regions, as well as in the Republic of Bashkortostan, Perm Territory, Rostov, Orenburg, Murmansk and Oryol regions. According to the head of the department Anna Popova, under an unfavorable set of circumstances...

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