3 min.
Editorial Invest in Slovakia
Get information from a selection of articles from other media. Our summary of each of them will save you time. You'll find news from the worlds of finance, technology, and real estate.
Three scenarios of how the future economic and geopolitical situation could affect the markets - According to Amundi analysts, there are three possible scenarios for the markets over the next year to year and a half. They described a negative one, i.e. a slump towards stagflation, with a probability of 30 % being fulfilled. Neutral, i.e. a major divergence, with a probability of 60 %. And positive with inclusive and sustainable growth, which they believe can occur at 10 %. In the paper they outline both the likely evolution, and the market impact of each.
Will flying be a common mode of transport? Germans create 'skyways' for cities - Urban surface transport is becoming increasingly congested as the population grows. Innovation in air transport is the solution. Starting in 2019, Skyroads aims to make flying accessible to everyone with a new airspace management system that will allow automated and autonomous cars and trucks to fly over densely populated urban areas. In Munich, it is building the world's first flight test area equipped with traffic control and vehicle guidance infrastructure. The company's founder and CEO sees the viability of the whole concept in the timely implementation of the technology, "while traffic density is still relatively low." He adds that "[their] business case assumes that by 2026 there will be publicly visible pilot applications for urban air mobility for humans."
Even the pandemic hasn't changed the fact that young people are leaving their parents after they turn 30 - According to the analyst of the Slovak Savings Bank, the main reasons are property prices, the availability of mortgages and rental housing, but also the long-term higher unemployment rate of the young generation. The average young Slovak leaves home just before the age of 31, while the average European leaves at the age of 26.5. The Swedes are the best (19) and the Portuguese the worst (33.6).
The common European currency, the euro, is weaker than the US dollar again - A similar change occurred more than 20 years ago. While the USD is rising, the euro is falling for a number of reasons. These include the often-mentioned inflation, the effects of the war, problems in the supply chain and Russia's announcement that it will halt gas supplies via the Nord Stream 1 pipeline.
US new home sales fall to lowest in 7 years - "The sharp decline in new home sales is another clear indicator that housing [in the U.S.] is in a recession," said the NAHB assistant to the president. According to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau, sales of newly constructed single-family homes fell 12.6 % to a seasonally adjusted annual rate of 511,000 in July compared to the June figure, which was revised downward. New home sales were down 29.6 % from a year earlier.
Study shows US leading the way in crypto payments - A study by Merchant Machine ranked countries by overall cryptocurrency usage, with the United States coming out on top. But Nigeria is projected to use the most cryptocurrencies in the next three years. There, current trends suggest that every resident will be using cryptocurrencies by 2030.
The first Slovak skyscraper has already sold out most of its apartments. The remaining ones are not yet on offer - The Eurovea Tower by developer J&T Real Estate reached 125 metres in June, and is expected to reach 168 when completed next year, which is the equivalent of 48 floors. Currently, 90 % of the 500 residential units are already to be sold, but prices have not been released.
Unattractive, expensive and complicated reconstruction of historical buildings does not attract developers - The current trend is to demolish the old and build new. The decisive factor is usually the price and return on investment. Fortunately, some developers have a different view. Penta Real Estate says that "the aim of development companies should not only be to pursue their own interest, but the general public in particular should be taken into account. To its opinions and needs, and to try to satisfy it and the city to the extent possible in the implementation of the project." Ownership relations can cause further complications, as significant brownfield sites are largely privately owned.
On the cusp of the age of AI and robots, Hyundai invests $400 million - The Korean carmaker bought Boston Dynamics after it was divested by both Google and SoftBank. The initial investment of $400 million makes it clear to the world that Hyundai is serious about artificial intelligence. The carmaker announced that it has already started hiring researchers and engineers en masse in Cambridge. Machine learning is not only to be used in automotive applications, but also in the realm of humanoid robots.
Game studio boss Peter Nagy: Poles have significantly outpaced us in video game development - We use them to pass the time, strengthen social bonds, or have new experiences. Today, video games have their own world championships and the gaming industry is taking up an increasingly large share of the global economy. Revenues of the Slovak video game industry are growing by around 20 % per year, but we are lagging behind compared to other countries, even neighbouring ones. In Poland, developers have achieved global success with titles such as The Witcher and Cyberpunk 2077, where they have engaged names such as Keanu Reeves and Johnny Depp. In Slovakia, there are few opportunities to study in this field, even at university, so many young people go abroad to study. "It takes time to get results, people need to learn things, have experience with their own games, then they can pass on the know-how and develop the segment," says Nagy.
Pleasant reading!
