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The American Recovery Revives Travel And Reduces Remote Communication

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Although Americans and others around the world became accustomed, during the pandemic year, to applications that allow meetings to be held via video conferencing technology, and the companies owning these applications made huge profits during the past months, in addition to the assertion of many analysts that companies continue to hold this type of meetings Americans have received new signals that their economy is returning to recovery, especially sectors related to travel and work.

Last Tuesday, The Wall Street Journal quoted Alison Taylor, a customer service officer at American Airlines, as saying that with the economy returning to full opening, 47 of the 50 largest companies dealing with American Airlines announced their intention to allow their employees to travel on business during current year.

At a time when companies’ reservations for their employees did not exceed 30% of what they were before the emergence of the virus and its spread on American soil, many institutions, especially financial institutions, specifically investment banks and wealth management companies, have recently begun preparing for the return of their employees to meet their customers face to face, and establish Real conferences away from video conferencing technology that bored many.

The share prices of Zoom, which specializes in holding virtual meetings, fell sharply, after announcing the intention of an American bank to cancel all its meetings scheduled to be held through the company’s application.

A few weeks ago, Jamie Dimon, CEO of JPMorgan Chase, the largest US bank, caused the Zoom share price to fall sharply, after announcing his intention to cancel all his meetings scheduled through the company’s application.

Dimon, the bank’s only remaining president after the global financial crisis hit world markets in 2008-2009, called on his employees to have the courage to “go out and travel to meet their customers.”

On Tuesday, investors and businessmen, as well as wealth managers and financial advisors, began flocking to Miami, Florida, USA, to attend an annual two-day conference on the most popular cryptocurrency “Bitcoin”.

While this year’s conference has been called “the largest Bitcoin event in history”, hundreds of major investors and their advisors are expected to participate in its work, who flock from all over to listen to the advice of a group of the largest cryptocurrency specialists.

Over the course of the four days following this conference, there will be other meetings, this time related to cryptocurrencies as a whole, all of which will be sponsored by more than twenty platforms on which they are traded.

In the first holiday that Americans celebrate after easing restrictions on requiring them to wear face masks, and during the long weekend due to Memorial Day, it was estimated that nearly 37 million travelers traveled from American airports, in one of the most popular days of the year. The last crowded, after Americans felt reassured for the first time since the outbreak of the deadly epidemic in their lands.

All of this coincided with oil prices recording their highest levels in two years, in a sign of the growing demand for fuel with the start of the economic recovery in the country.

The increase in travel traffic in recent weeks has led to an increase in demand for fuel, and a rise in global oil prices. In the first days of the last months of the first half of the year, the price of a barrel of the benchmark Brent crude rose by 1.3% to record more than $ 70 for the first time since May of 2019, and the price of a barrel of US West Texas crude rose by 2.1% to exceed 67.72 dollars, close to its highest level in nearly three years.

With HIV infection rates under control in many Asian countries and China, the largest consumer of oil in the world, and the increasing number of people receiving vaccine doses in the countries of Europe and the United States, the “OPEC +” alliance, which includes members of the Organization of the Petroleum Exporting Countries, OPEC and some of its exporters, saw Outside, such as Russia, world markets may be ready for the time being to absorb more supply, without the price collapse that occurred in the middle of last year.

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