German economic sentiment continues to fall in August
August 11, 2021, 6:18 am

German economic sentiment continues to fall in August

According to the Xinhua, the Leibniz Centre for European Economic Research (ZEW) announced on Tuesday that its indicator of economic sentiment in Germany continues to fall, dropping by 22.9 points from July to 40.4 points in August. German

ZEW President Achim Wambach said, the third consecutive monthly decline in economic sentiment points to "increasing risks for the German economy," such as from a possible fourth wave of COVID-19 starting in the autumn.

However, the current economic situation in Germany was assessed as better than in the previous month, with an increase of 7.4 points from July to 29.3 points in August.

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Wambach said, this improvement, "which has been ongoing for months, shows that expectations are also weakening due to the higher growth already achieved."

The indicator for the current economic situation in the eurozone climbed to 14.6 points in August, 8.6 points higher than in July, but expectations regarding economic development decreased for the third time in a row, falling to 42.7 points.

Lower expectations in Germany's industry are also driven by global material shortages. Last week, the forward-looking ifo indicator for industry production fell from 27 to 22 points.

"Supply bottlenecks for important intermediate products are now making themselves felt," said Klaus Wohlrabe, head of surveys at ifo Institute.

Source: xinhua

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, has sponsored the BuildHer CityHack 2025 Hackathon, a two-day event spearheaded by the College of Engineering and Technology at the Royal University for Women (RUW).
Aimed at secondary school students, the event brought together a distinguished group of academic professionals and technology experts to mentor and inspire young participants.
More than 100 high school students from across the Kingdom of Bahrain took part in the hackathon, which featured an intensive programme of training workshops and hands-on sessions. These activities were tailored to enhance participants’ critical thinking, collaborative problem-solving, and team-building capabilities, while also encouraging the development of practical and sustainable solutions to contemporary challenges using modern technological tools.
BENEFIT’s Chief Executive Mr. Abdulwahed AlJanahi, commented: “Our support for this educational hackathon reflects our long-term strategic vision to nurture the talents of emerging national youth and empower the next generation of accomplished female leaders in technology. By fostering creativity and innovation, we aim to contribute meaningfully to Bahrain’s comprehensive development goals and align with the aspirations outlined in the Kingdom’s Vision 2030—an ambition in which BENEFIT plays a central role.”
Professor Riyadh Yousif Hamzah, President of the Royal University for Women, commented: “This initiative reflects our commitment to advancing women in STEM fields. We're cultivating a generation of creative, solution-driven female leaders who will drive national development. Our partnership with BENEFIT exemplifies the powerful synergy between academia and private sector in supporting educational innovation.”
Hanan Abdulla Hasan, Senior Manager, PR & Communication at BENEFIT, said: “We are honoured to collaborate with RUW in supporting this remarkable technology-focused event. It highlights our commitment to social responsibility, and our ongoing efforts to enhance the digital and innovation capabilities of young Bahraini women and foster their ability to harness technological tools in the service of a smarter, more sustainable future.”
For his part, Dr. Humam ElAgha, Acting Dean of the College of Engineering and Technology at the University, said: “BuildHer CityHack 2025 embodies our hands-on approach to education. By tackling real-world problems through creative thinking and sustainable solutions, we're preparing women to thrive in the knowledge economy – a cornerstone of the University's vision.”