Finance

Flowers

The financial literacy report was presented on Monday. As a result, the financial knowledge of adults in Austria is above average.

On Monday, the Federal Ministry of Finance (BMF) presented the report on financial education in Austria. According to that, the financial knowledge in this country is above average. However, certain sections of the population still have significant residues. That should be changed in the future.

At a joint press conference with Andreas Treichl, Chairman of the Supervisory Board of the Erste Foundation as well as member and founder of the “Foundation for Economic Education” and Federal School Spokesperson Alexandra Bosek, Finance Minister Gernot Blümel described that financial education is the best pension plan and creates “added value for society and the economy” .

Therefore, one wants to increase the awareness, financial skills and understanding of the citizens in the area of financial education in the future. Accordingly, the BMF has been running a project to develop a national financial education strategy for Austria since May last year.

The project is also intended to promote better use of resources. The aim is also to support investor and consumer protection and to facilitate cooperation between the actors in the field of financial education. “We don't want to reinvent the wheel, we want to bring the existing together in a meaningful way,” explains Blümel.

In Austria, as he goes on to describe, there are numerous sensible and established initiatives, but the holistic view is lacking here.

“With our national strategy we want to close the existing gaps and become a global pioneer,” said Blümel.

And further: “The Austrians should be able to make good financial decisions.” This has a positive effect on individual provision and the location, explained the finance minister.

In a first phase, the Organization for Economic Cooperation and Development (OECD) worked together with the BMF to produce a so-called mapping report. This report collects existing national financial education measures and activities in Austria and analyzes international best practices. The report “Financial Education in Austria: Relevance, Findings and National Initiatives” makes an important contribution to the development of the national financial education strategy for Austria.

The OECD report shows that the financial knowledge of adults in Austria is above average in an international comparison, but that there are still significant shortfalls in certain population groups. The number of actors involved in financial education is remarkable. However, the provision of financial education offers is uncoordinated.

Against this background, the most important findings of the report include the need for stakeholder coordination, a good selection of target groups and a sustainable program evaluation. The report also shows that most financial education initiatives target young people in schools.

It is important, however, that all target groups have access to financial education.

For Andreas Treichl, “the lack of financial and economic education in Austria is not a new phenomenon, it is unfortunately a tradition. In my opinion, it also makes a significant contribution to widening the gap between rich and poor. It is encouraging that the willingness to do so In recent years – both in politics and in civil society – there has been an increase in taking action here. This report provides an important basis for broad-based initiatives and also shows us how important it is not to give up here “, clarifies the experienced, former bank manager.

seo2b online trading articles

Even in times of pandemic, online trading is quite safe. But is the online option suitable for every company?

It is good news from the economic sector that the Austrian Chamber of Commerce is announcing with a view to the Corona year 2020. Accordingly, even in the year of the crisis, no “significant anomaly” can be seen with regard to the start-ups in Austria. The increase in start-ups in 2020 was somewhat lower than in previous years, but company founders do not seem to be dissuaded from their plans by the crisis.

The conclusion of the experts: The founding spirit is unbroken. Companies with innovative ideas in particular are literally rushing ahead. Incidentally, as does the proportion of women among new founders, which has reached a record level of 54 percent (cf. wko.at). The statistics do not show whether these are regional start-ups with shops. How trade works safely in times of Corona is online – as the following best practice example shows.

The approach of the team behind MAKEUP, which offers perfume, make-up and other beauty and care products online at makeupstore.at, is a true best-practice example from many founder's guidebooks. There you can usually read this tip: “Find the problem of your target group and offer a solution.”

This is exactly what the MAKEUP team did a long time ago and thus explains the “beauty without limits” motto. MAKEUP is not one of the new founders in the country, but the shop and the idea behind it could well set an example.

The problem in the industry is namely the following: Anyone who has ever become a fan of a beauty or care product because it exactly matches the skin or hair type, usually remains loyal to the product and brand. However, this can also mean that a visit to the hairdresser is necessary for the beloved hair care product, that the favorite fragrance is only available on holiday abroad and that the skin care product can only be ordered from a dermatologist. The MAKEUP team would like to get rid of these circumstances – namely, having to target tens of places in order to receive proven products – and is doing this with an online shop (independent of Corona).

The team reveals that 2,000 cosmetic brands are listed there. For customers, this means that 82,000 items can be ordered easily and with a click of the mouse. Overall, the number of fans has already risen considerably, because the number of MAKEUP customers is in the three-digit (!) Million range; 45 million products are ordered every year. It is currently sold in 14 EU countries – including Austria, but also in the neighboring countries of Germany, Italy and Hungary. The strategy for success is online and simple, coupled with a high level of service. For MAKEUP customers, this means: It only takes a few simple clicks of the mouse to order original products at attractive prices and have them delivered to your home quickly.

According to the operators, the beauty universe includes well-known brands as well as newcomers in the beauty and care sector. Innovations and niche products as well as product premieres and international releases are available online. But doesn't it suffer from the advice that is so important in the area of beauty and care? No, because the team has found an online solution for this as well: In the blog area there are seasonal information, for example about caring for the skin in winter or dealing with special topics, such as the secrets of a perfectly manicured man's beard.

As early as 2020, retailers were calling for a click-and-collect solution. The idea behind this is to order online from regional retailers and to pick up the ordered goods in the store as contactlessly as possible. Just in time for the lockdown in December, this ordering principle was allowed – but disillusionment followed at the same time. The trade association explains at oestereich.orf.at that the principle cannot even eliminate ten percent of sales losses. The problem is that the click-and-collect model cannot work for every business and for all products, they say.

The costs and the effort to offer the products from the stationary trade online are enormous. Only those who have already created a digital trading strategy in advance can benefit now. These include mainly building materials dealers and companies that offer furniture online. Accordingly, the number of those who wanted to try click-and-collect to compensate for the income they lost due to the renewed lockdown is also low.

If you believe the representatives of the Chamber of Commerce in Burgenland, the situation is indeed a challenge, but the traders have mastered it perfectly. Despite the trade, the number of infections has not increased extraordinarily. This is also intended to underline the assumption, which has already been formulated more often, that trade is not a source of infection. As a result, according to Peter Nemeth, the WKO president in Burgenland, there should be no further forced closings.

Those who were allowed to resell – be it online or in brick-and-mortar stores – are among those who have even benefited from the crisis. Not only is online trading booming. REWE also set a sales record for the first time and cracked the magic mark of 75 billion euros.

Mukesh Ambani wants to build a Hyperloop-style transport system and get ahead of Tesla electric cars.

Mukesh Ambani

With “Mukesh versus Musk” a duel of the billionaires is conjured up. The reason for this is that the Indian billionaire Mukesh Ambani is now showing a great deal of interest in business areas that are also attributed to Elon Musk.

Mukesh Ambani is not only considered to be the richest man in India, but also the richest man in Asia. His company Reliance Industries recently bought the US company skyTran. This develops a transport system based on self-driving pod taxis.

Magnets

As with Elon Musk's Hyperloop, skyTran should also use magnets to accelerate self-propelled cabins. While Hyperloop moves these pods in tubes, with skyTran they are supposed to hang on a kind of rail that is set up above the streets. With Hyperloop, the tubes could also be built above ground, but the projects are currently more in the direction of underground tunnels.

Hyperloop already has 3 projects in India, Business Insider reports. A railway is to connect Mumbai and Pune. Another project aims to improve the accessibility of Bangalore Airport. The latest project is to connect Chandigarh with New Delhi.

Challenge

Ambani previously held shares in skyTran before he now took over the majority in the company. In 2017, skyTran applied for a tender from the Indian Ministry of Transport to test a pod taxi system. skyTran made it on the short list, along with 2 other companies. It is the only one of the 3 companies that uses a magnetic drive.

Hyperloop does not work with the government for its projects, but with the administrations of the Indian states. The fact that Ambani has now taken over skyTran, which is virtually an administrative level above the Hyperloop projects, is seen by analysts as a declaration of war.

Ambani recently announced plans to manufacture batteries for electric cars. Analysts assume that this will strengthen the Indian electric car industry. They do not rule out that Ambani will soon invest directly in Indian electric car manufacturers.

This is also seen as an attack on Elon Musk. Because according to rumors, he is planning to set up a Tesla Gigafactory in India to manufacture electric cars there. The announcement is said to be imminent as Tesla has already rented offices in India.

Purchasing Managers' Index rose in February to its highest level since February 2018

The US industry has surprisingly gained momentum. The purchasing manager index rose in February by 2.1 to 60.8 points, the highest level since February 2018, according to a company survey by the Institute for Supply Management (ISM). Experts had largely expected stagnation. With a value of well over 50 points, the index signals strong growth.

“The mood barometer in the industry is rising unexpectedly strongly and is at a high level, so that the friendly outlook in the industry remains,” explained Helaba economist Ralf Umlauf. The American central bank (Fed) will nonetheless stick to its expansionary monetary policy, because Corona mutations “carry the risk of a prolongation of the crisis”. This could particularly burden the service providers.

25 pieces have been ordered. The handover is planned for 2023.

After the re-registration of Boeing's 737 Max aircraft, the US aviation giant has booked another large order. The US airline United Airlines announced an order for 25 machines on Monday, which are to be handed over in 2023. In addition, the company has preferred to deliver a number of models that have already been ordered, so that the fleet will be strengthened with a total of 94 new 737 Max over the next two years.

There is no doubt that the past year was extremely difficult, but one is emerging stronger from the crisis and is now preparing for a comeback, United manager Andrew Nocella said in a memo to employees. The prospect of an end to the ordeal gave United Airlines and Boeing shares a strong boost on the stock market at the beginning of the week. Both companies posted price increases of over five percent in early US trading.

Tailwind since the end of the flight bans

The extensive lifting of the worldwide flight bans, which had been imposed for the 737 Max because of two crashes with 346 deaths, had already given Boeing a tailwind in recent months. Not only did the order situation improve, Boeing can finally deliver its most important model series again. In January, the US group managed to get rid of more aircraft in a month for the first time in two years than its arch-rival Airbus.

Gastronomy in Austria will remain closed for the time being.

At the moment the corona numbers are still too high, but the long-awaited perspective for the catering industry is there. There is an appointment for the opening of the garden

Until the end it was not clear how things should go on for the catering trade. After it was leaked on Sunday evening that there would be no further opening steps in the catering trade for the time being, the celebrity restaurateur Martin Ho caused speculation on Monday again. The reason: It was possible to reserve a table on the Dots Group's homepage from March 15th.

Due to the high numbers, it was ultimately not possible to open the catering trade on this date. A “worrying trend reversal” has been observed in Austria in the past few weeks. Even before the summit, epidemiologist Eva Schernhammer announced that she would advise the government not to open it now. In addition, the highest level of new infections since December was registered by the authorities on Sunday. The increasing spread of virus mutations is also currently causing concern.

As “Today” found out, the gastronomy with the Schanigarten operation can start on March 27th! This soft start in Holy Week is at least the first perspective that is vehemently demanded by the economy; a first signal. An indoor schnitzel isn't supposed to play again until April.

➤ Even before that (namely on March 15th) the “Ländle” should become a test region. This “island solution” for Vorarlberg looks like this: Because of the low incidence in Vorarlberg (73.3 according to the dashboard on Monday), the comparatively low spread of the British mutation and the geographically favorable location (isolated by the Arlberg), one should be here Test region for the gastro opening on 15.3. be created.

As reported, Health Minister Rudolf Anschober (Greens) was vehemently on the brakes when announcing opening steps. He doesn't want to “stick his head out”, he thundered in the meeting with the country chiefs. You can read the backstage story HERE >>

EU Commission President Ursula von der Leyen announced an imminent legislative proposal.

EU Commission President Ursula von der Leyen wants to present a draft law for a “digital green passport” for people who have been vaccinated against corona this month. This makes it clear what the European vaccination certificate should look like, said von der Leyen in a speech to the CDU / CSU members in the European Parliament on Monday.

“We want to create the technical prerequisites in the next few months,” confirmed von der Leyen after making appropriate arrangements at the EU summit last week. And she added: “For the digital green passport to be a success, we need the support of all member states. You in Germany must also create the conditions for it.”

Last week, at the EU summit, the EU states agreed in principle on a common approach to the introduction of a vaccination card valid throughout Europe and commissioned the European Commission with the technical development. However, a number of questions are still open.

The aim is that corona-vaccinated persons can prove their immunization in a forgery-proof way. This could be done using a uniformly readable document with a QR code that you could carry with you on paper or on your smartphone, similar to a train ticket. To this end, the national systems of the 27 EU countries must be designed or linked in a comparable manner.

Especially holiday countries like Austria, Greece, Cyprus and Spain are putting pressure on things to happen quickly. According to the schedule, the technical preparations should take three months, i.e. until the end of May. Technically, you would be ready to go before the summer season.

The EU countries still disagree on the question of what the vaccination certificate should then enable. Countries like Austria want a clear link with advantages for people who have been vaccinated against corona: easier travel, but also access to restaurants or theaters. Germany and other countries are slowing down. On the one hand, because it is still unclear whether you can pass the coronavirus on despite being vaccinated. On the other hand, because so far only a small minority in the EU has been vaccinated. It is also argued that this will introduce compulsory vaccination through the back door.

The Viennese Marc Elsberg has sold millions of copies of his science thrillers. Now he's putting on a courtroom thriller. “For 'The President's Case' I wanted to put a US president behind bars,” he says in an APA interview, in which he also dares a prognosis about Donald Trump: He “will be convicted by a court, but for business Things that won't stop him from running for the presidency again “.

Image: APA

APA: At the center of your new novel is an ex-US president with the initials DT. That sounds very familiar. When did you start working on your book?

Marc Elsberg: I've been dealing with the topic for a long time. More concretely, the idea came up in the course of 2018. In 2019 I started to design and write, the intensive work was in the first half of 2020. The – fictional – figure of this ex-president bears the initials DT, but is younger and slimmer and fitter than Donald Trump, he is inspired by the last three US presidents and their actions: George W. Bush, Barack Obama and Donald Trump.

APA: You became known for thrillers on science and technology topics. Why are you now entering the field of law?

Elsberg: I always understood my novels as thrillers on current topics. Technology and science are fundamental to our modern society, so they have to play a role in contemporary novels – sometimes a bigger one, sometimes a smaller one. Like in “The President's Case” when you think of the fake news, deep fakes and drones that appear in it. For “The President's Case” I wanted to put a US president behind bars – of course, justice and law are the main focus.

APA: What new challenges did you face with this unusual subject?

Elsberg: To understand international criminal law only in a rudimentary way – a very complex topic. Fortunately, I had very knowledgeable support.

APA: How much real probability did the experts you spoke to give your scenario, namely the arrest of a former US president by the International Court of Justice?

Elsberg: Admittedly, not very much.

APA: How did your research for the novel go?

Elsberg: In times of the Internet, research has become much easier on the one hand because you can find practically everything online if you know – and that makes it difficult again – where to look. So on the one hand I do research online and on the other hand I talk to experts.

APA: How much are or were you involved in the film adaptations of your novels “Blackout” and “Zero”?

Elsberg: The scriptwriters consulted me while they were writing and I was able to give my comments. But there weren't many, because I liked the scripts very much! The authors even had an idea that made me think: Great, I would have loved to have had that for the book!

APA: Due to the recent near blackout in the Central European power grids, you were again a sought-after interviewee on the subject. Would you wish more politicians would read your books and take them to heart? Or would you prefer that you were wrong about the developments you describe?

Elsberg: As I hear, my books are read by politicians anyway. The concepts for cooperation and growth optimization from my last novel “Gier” brought me lectures at the SPÖ and the Europaforum Wachau organized by the ÖVP, as well as a discussion with the German “economic wise man” Lars Feld, who later took over the chairmanship of this body that the Economic policy of the German federal government appraised. The German SPD chairman Saskia Esken recommended “Gier” several times and even read it live on Twitter once. But it is precisely these concepts that should be talked about more: In “Gier” I already described a gigantic economic crisis in 2019 that, oops, occurred in 2020, but also provided new scientific knowledge that can help to overcome such crises.

And I find some of the scenarios I have designed quite positive. I would not mind seeing them in reality if I were thinking of a broad discussion about the concepts of “greed”, or of the fact that the West really represents those values that it attaches to its chest and holds even high-ranking personalities from politics and business to account.

APA: Your books are millions of sellers. How are your connections and contacts to the “conventional” literary scene? Are there any exchanges and overlaps?

Elsberg: Of course, again and again. In 2019, for example, I was invited to the European Literature Days in the Wachau, a few months ago a conversation with colleagues Vea Kaiser, Ursula Poznanski and colleague Clemens Berger appeared in the German literary magazine “Allmende”, to name two examples. And in Vienna, when it's not lockdown, I meet a small group for a drink every now and then.

APA: We started with DT, let's end with DT: What do you think is more likely at the moment: Donald Trump will be convicted in a court – or will he run again in the next election? Additional question: If there is a conviction, will his business or political machinations be more responsible for it?

Elsberg: Both and. He will be tried in a court of law, albeit for business matters, which will not prevent him from running again for the presidency. It is to be feared that the Republicans will allow this a second time. Let's hope the US electorate doesn't go along with this.

(The questions asked by Wolfgang Huber-Lang / APA)

ABOUT THE PERSON: Marc Elsberg was born in Vienna in 1967. He worked as a strategy consultant and creative director for advertising in Vienna and Hamburg. Starting in 2000, he published a number of novels under his real name Marcus Rafelsberger. He celebrated his breakthrough as a thriller author in 2012 with “Blackout – Tomorrow is too late”. The book, which has so far been translated into over 20 languages, has sold over 1.8 million copies in German-speaking countries alone. This was followed by the thrillers “Zero” (2014), “Helix – They Will Replace Us” on the subject of gene manipulation (2016) and “Greed – How Far Would You Go” (2019). Film adaptations of “Blackout” and “Zero” are to be broadcast in 2021. Elsberg teaches storytelling at the University of Applied Arts Vienna.

(SERVICE – Marc Elsberg: “The President's Case”, blanvalet, 608 pages, 24.70 euros)

The Czech Republic, which has been extremely affected by the corona pandemic, has massively restricted the freedom of movement of its citizens for at least three weeks. People are only allowed to leave their district in exceptional cases. On Monday morning, the police began strict controls on streets and trains. “We will be everywhere, even on the smallest county roads,” said a police spokesman. More than 25,000 police officers and up to 5,000 soldiers take part in the controls.

Image: APA (AFP)

In cases of doubt, the officials want to be lenient at the beginning. But if someone obviously disregards the rules, that will of course be punished, emphasized the spokesman. That has already happened, but it is still too early to take stock. There is a threat of fines equivalent to just under 400 euros. In some places there were traffic jams because of the controls.

It is possible to travel to work, to the doctor and to authorities across district boundaries if written evidence is carried with you. It is still allowed to leave the Czech Republic. More than 25,000 police officers and up to 5,000 soldiers are involved in the controls. There was criticism in online comments. Many users wrote that this did not exist even under communism.

The background is that the Czech Republic has the highest rate of new corona infections of all EU countries. On Monday, authorities reported 4,557 new cases within 24 hours. There have been more than 1.2 million infections and 20,469 deaths since the pandemic began. The country has around 10.7 million inhabitants. According to the latest figures from the EU health agency ECDC, there were 1,120 new infections per 100,000 inhabitants in the Czech Republic within 14 days.

According to critics, the measures taken by the government under Prime Minister Andrej Babis do not go far enough. The trade union umbrella organization CMKOS called for a one-week break in the factories over Easter. The cabinet is only planning regular testing for companies with more than 250 employees.

Queues in front of the shops: March attracts buyers with discount campaigns.

Many dealers start March with discounts and perks. The special thing about it is that, unlike usual, there are campaigns in almost all categories.

The furniture chain Ikea is offering “offers to look forward to” in its branches until March 7th. Many products are reduced from drinking cups to bathroom cabinets. In addition to the general discount offers, each individual furniture store also has its own special offers. According to the website, upholstery and blankets are on offer at Ikea Wien Nord, plus -50% off selected refrigerators and dishwashers. Sofas, boxes and chairs are cheaper in Vösendorf.

The electronics retailer MediaMarkt is also running a cheap promotion until March 2nd. “Club members and those who want to become one now receive a 5%, 10% or even 15% discount on thousands of products,” says the website. 15 percent is spent on large and built-in household appliances, TV and satellite systems, hi-fi, headphones, etc. 10 percent can be saved on many smartphones, smartwatches and tablets, but also on coffee and kitchen utensils.

The online giant Amazon has set up its own category with “top offers”. Each with a countdown, the offers count down for a limited time. You can find just about everything, from garden tools to power drills, but also laptops, lamps, carpets, books and kitchen appliances. The discounts are sometimes up to 50 percent, and Prime members can also reserve the offers in advance.

A “super sale” is currently running at Libro while stocks last. Many of the offers revolve around school and family, from rucksacks and folder systems to board games. But there is also a special discount campaign for the Nintendo Switch. Both the Switch console and some Nintendo games and accessories for the device are at least a small amount discounted, the online page of Libro shows.

The discount store Hofer has 34 new products on offer on Monday. This includes: stands, dishes and decorations for Easter, but also vacuum cleaners, broom sets and cleaning utensils for Easter cleaning. In the “Permanently cheaper” category, there is also a range of chocolate decorations with different types, and with the “Superdeal” numerous groceries are greatly discounted in the branches.

Regardless of whether Möbelix, XXXLutz, Mömax, Leiner or Co .: Almost every furniture store in the country offers discounts of up to 75 percent and sometimes even more to create space in the warehouse. Often on offer: bedrooms, living spaces, but also garden tools. In most cases, the products can not only be bought in stores, but also ordered online.

Most fashion chains in Austria such as H&M, C&A, P&C or Kik also start such sales. While the “big ones” can also browse online, smaller fashion stores and boutiques also offer big discounts on site to boost sales again. You can also save money when shopping in the country's many shoe stores, which also started selling in March.