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The DAX began weakly, weighed down by concerns over the outcome of the state election in Saxony-Anhalt and rising oil prices. German production fell in July, while the ECB anticipates an interest rate hike.
Global EconomyClimate ChangeWeather & Natural Disasters
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The World Meteorological Organization (WMO) predicts with almost 100% certainty that El Niño will continue until February 2027. This weather phenomenon, which raises global temperatures, could intensify further and have far-reaching climatic impacts until 2027, including droughts and floods.
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Turkey has raised its inflation forecast for the end of the year to 28.4%. The Middle East war is cited as the main reason for the adjustment, with estimated impacts of around seven percentage points on inflation.
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The EU plans a massive investment offensive in Greenland to strengthen Arctic security. €530 million will be provided for the 2028-2034 budget period, with an additional €200 million announced.
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The crisis in Iran has led to a price increase for recycled plastic in Cairo's garbage city, with one kilogram now fetching five instead of one pound. This allows some waste pickers, who informally handle disposal for over 20 million residents, to achieve higher profits.
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Following an eruption of the Anak Krakatau volcano, Soekarno-Hatta International Airport in Indonesia was temporarily closed. Over 22,000 passengers and 209 flights were affected by the closure due to volcanic ash in the airspace.
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Following a dispute over political freedom of expression, the band Alphaville was initially uninvited from a festival but then reinvited. The band ultimately declined to perform, while other artists expressed solidarity and advocated for diversity.
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US national debt has surpassed 40 trillion dollars, with interest payments now exceeding defense spending. Economists warn this comes at the expense of future investments, though an immediate default is unlikely.
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Numerous artists protested at the Glücksgefühle festival against the exclusion of the band Alphaville, which was initially removed from the program due to political statements. The band and its supporters warned of right-wing tendencies in Germany.
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Football fans can serve as role models for democracy, despite negative headlines about riots and far-right incidents. They successfully mobilize against investor decisions and strengthen the sense of community within clubs, which is significant in times of social isolation and psychological strain.
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