Over the past year the EUR USD exchange rate was quite stable at around 1.10 with ups and downs to 1.12 or 1.08. Since June however, the EUR steadily gained against the USD and reached a two-year high of 1.1965 this Tuesday.
On the one hand the Euro is getting stronger, mainly because the European economy seems to find a better way out of the Covid crisis. On the other hand the USD faces losses against almost every currency recently. Since beginning of July it dropped 6.4% against Swedish Krona, 2.5% against the Japanese Yen and even against emerging market currencies such as the Brazilian Real or the Mexican Peso it fell 6.0 and 4.9%.
In case the United States will struggle to contain the pandemic in near future, financial experts predict that the EUR further gains against the USD, going beyond the psychological mark of 1.20 very soon.
Every year around this time we feel business activities going down. Some clients shutdown completely for several weeks, others just go on holidays individually. This year it seems even quieter because of COVID. Some of our colleagues are taking annual leave, but most of them stay home or at least don’t fly to other countries.
Why don’t use the time and saved money to renovate your house or garden? That’s what many people are doing these days. Do-it-yourself chains like Hornbach or OBI report sales records in the last months. Number of swimming pools sold are on a record high in many European countries.
If you can’t go on holiday to your favorite country, why not investing in your house or apartment to make life at home more enjoyable.
Photo: Petrex GmbH garden
Petrex code of conduct is a set of rules which is written to protect our business and inform customers, suppliers and employees about the company’s expectations.
A well-designed code of conduct is a foundation for an effective ethics and compliance program. It should foster a dialogue among employees and business partners concerning the company’s code and its culture.
You will find our Code of Conduct in the Imprint section on our website or here
UK Minister Rebecca Pow confirmed earlier this month that the United Kingdom will end the participation in REACh, the central system of the European Union to regulate and improve the protection of human health and environment from the risks that can be posed by chemicals.
The UK will activate its independent REACh regime from 1 January 2021 when the Brexit transition period ends. According to the Confederation of British Industry (CBI) the chemical sector is amongst the industries that benefits the least from the Brexit scenario. Main reason is the fact that the chemical industry is already heavily regulated and 60% of the chemical exports in the UK are going into the EU. Leaving the ECHA REACh and starting an independent REACh system means more complexity and work on documentation and regulation for all players participating in the supply chain of UK chemicals.
Petrex will monitor regulative changes closely and do everything possible to assure a reliable delivery performance to our UK business partners according to applicable regulations like in the past.
In case you would like to learn more about REACh topics, please do not hesitate to contact us.
In 2018, President Xi Jinping visited Hunan province to check on environmental protection measures. Decades of industrial development had a bad influence on the water quality of the world’s third-longest river. The Yangtze River is the main source of drinking water for nearly 400 million people. To recover the water quality and nearby nature, more than 1600 companies from different industries with insufficient waste water treatment have been closed since 2018. Until end of 2020, all remaining companies located within 1 km distance to the river have to prepare an environmental report. However, there are still around 400.000 small companies located in that area. The “greening” of the industry is a tough battle for the Chinese government, as those 400.000 companies make up 46% of the total chemical industry in China. The main goal now is to relocate factories to chemical parks where environmental protective measures can be better controlled.
Despite the challenging period we are currently in with the Covid crisis, the weather is wonderful. And in most European countries people are still allowed to leave the house for exercising. Our employees use the late afternoons for a run, cycling trip or a walk through the forest. Since there is no vaccine or treatment for Covid-19 yet, maintaining a strong immune system increases your chances of developing only mild symptoms if you happed to contract the virus. So if your local regulations allow, we strongly recommend to exercise outside. It is not just good for your immune system, but also provides mental stability.
Such a crisis breaks routines. A forced slow down, a new way of working, the joy of an empty schedule, all this is a great opportunity to be more mindful and reflect where we are stuck in a rut, come up with new ideas and start powerful into the next chapter.