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Ukraine beats off mass drone attack
RUSSIA / FSU POLITICS · In Brief · 08 May 2023

On May 8 Russia launched 60 Iranian-made Shahed kamikaze drones on several cities in Ukraine. Ukraine said it shot down almost all the drones and casualties were minimal and only among civilians. Russia claims to have hit Ukrainian troops with its attack. This is the 4th attack in 8 days. Ukraine...

Uzbekistan announces presidential election is coming early
RUSSIA / FSU POLITICS · In Brief · 08 May 2023

On May 8 the announcement did not set a date for the election. However, the law says that the election must be held within 2 months of the announcement. The President said the election is to be held so he can implement the constitutional reforms. Others believe it is so the opposition has minimal...

Car bomb in Russia targets pro-war activist
RUSSIA / FSU POLITICS · In Brief · 08 May 2023

On May 6 a car in which Zakhar Prilepin was traveling was bombed, but he survived. His driver was killed. The attack took place in Nizhny Novgorod, 850 km from the Ukraine border. A suspect has been arrested. Prilepin is a former soldier and hardline nationalist novelist. He has often been to Eas...

Lula once again criticized the Central Bank while in London, Deputy Cajado will submit his report on the fiscal framework on Wednesday, May 10, and Arthur Lira is in New York this week
BRAZIL POLITICS · Report · 08 May 2023

President Lula said that the basic interest rate (Selic) at 13.75% inhibits investment and economic growth. He is expected to appoint two new directors to the Central Bank in the next few days. Deputy Cláudio Cajado (PP-BA), rapporteur for the new fiscal framework, will submit his report on the t...

Important gains in early 2023
INDIA · Report · 08 May 2023

The labor market has long been intractably stuck, with the number of persons working at about 400 million. In April 2023, this jumped by 22 million persons to about 430 million. This is first suggestion of an important change in the labor market in many years. Perception-based measures of how ...

Chile's Constitutional Council Elections
CHILE · In Brief · 08 May 2023 · 1 response

Chileans voted yesterday for the fifty members of the Constitutional Council which will spend the coming months designing the constitutional proposal that will be presented to voters in a referendum on 17 December. This is the second attempt at approving a new constitution after Chileans rejected...

The business sector is increasingly pessimistic
ISRAEL · Report · 08 May 2023

1. The Business Tendency Survey reflects growing pessimism in the coming months. 2. Headline GDP growth in Q123 is likely to be weak. 3. Markets will await the S&P rating report regarding Israel’s outlook on Friday; the stable outlook is likely to be maintained.

The business sector is increasingly pessimistic
ISRAEL · In Brief · 07 May 2023

The business sector is increasingly pessimistic The Business Tendency Survey reflects fairly steady growth in April, but the expectations three months ahead declined sharply to reflect basically no growth. The expectations for employment also declined. The high-tech service sector is expecting a ...

Russia evacuating nuclear power station area in Ukraine
RUSSIA / FSU POLITICS · In Brief · 07 May 2023

On May 6 authorities in the Russian-occupied district of Ukraine ordered thousands of civilians to evacuate. The Russian-appointed administration announced that over 1,500 have been evacuated already. The region contains the largest nuclear power station in Europe. The International Atomic Energy...

Alea iacta est
TURKEY · Report · 07 May 2023 · 1 response

The politics author admits his essays contain little new information except a modest revision to his scenarios for the Grand Assembly. In brief, he expects the opposition candidate Kemal Kilicdaroglu to declare victory in the second round, with an uneasy coalition of the Nation and Green-Left All...

Hypersonic missile downed for the first time, early signs of unfolding counter-offensive
UKRAINE · In Brief · 06 May 2023

Today, we received official confirmation of a groundbreaking development: for the first time since the full-scale invasion began, Ukraine's air defense successfully intercepted and destroyed a Russian Kinzhal hypersonic missile. Russia possesses only a limited number of these hypersonic missiles ...

Wagner Group withdrawing from Bakhmut
RUSSIA / FSU POLITICS · In Brief · 06 May 2023

On May Wagner owner Yevgeny Prigozhin said that his organization will withdraw its men from the Ukrainian city on May 10. He blamed a severe shortage of munitions, which he said had led to unnecessarily high losses. He publicly ranted a week ago that those who decided not to furnish Wagner with s...

Weak industry and retail sales data reported for March
HUNGARY · In Brief · 05 May 2023

Industrial output, on seasonally adjusted basis, rose by 0.2% mom and fell by 3.8% yoy in March. This also meant a 3.8% yoy reduction of the production volume in Q1. The following chart shows the monthly development of the relationship between output, the EURHUF exchange rate and producer prices,...

GULF WEEKLY: Oil slips further, rates hiked, PMIs show strong non-oil growth, Kuwait sets election date
GULF COUNTRIES · Report · 05 May 2023

A skimmable summary overlaid with our analysis and links. Headlines: * Brent crude is down about -$5 this week to $75 and touched a mid-week low of $71. * All Gulf states except Kuwait mirrored the Fed’s 25bp rate hike. * The IMF sharply lifted its fiscal breakeven oil price forecasts for Sa...

Webinar replay: Sub-Saharan Africa - A region poised for growth
NIGERIA · Report · 05 May 2023 · 1 response

With Sub-Saharan Africa's economic and political landscape changing and developing, get insight into the region's macro outlook and a closer look at Nigeria, Ghana, Angola, Kenya, and Zambia's economies and politics. Visit our calendar page to watch the replay of our webinar featuring Kingsley M...

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