Services

COUNTRY INSIGHTS

This is the last week of activity in Congress before the recess, a session of Congress was scheduled to vote on presidential vetoes, and President Lula will travel to Brussels on Saturday to attend a meeting between the CELAC and the EU
BRAZIL POLITICS · Report · 10 Jul 2023

This is the last week of activity in the National Congress before the recess. Since the Budget Guidelines Law (LDO) was not put to a vote, members of Congress will have an informal recess. A session of Congress is scheduled for Wednesday, July 12, to analyze presidential vetoes. An agreement betw...

Difficulties after restoring pre-pandemic conditions
INDIA · Report · 10 Jul 2023

We are now able to assemble a picture of the post-pandemic recovery based on four business cycle indicators: listed company net sales, listed company operating profit, exports and bank credit. At first, there was a powerful post-pandemic recovery, but after February/March 2022, there has been a s...

We are leaning towards a rate hike today
ISRAEL · Report · 10 Jul 2023

1. We see a 60% probability of a rate hike today. Sticky service price inflation, a tight labor market, wage pressure, a weaker shekel and fairly steady growth will support further tightening. 2. Politics continue to impact markets, as the coalition presses forwards with cancelling the “reas...

China and the Wagner coup
CHINA ADVISORY · Report · 10 Jul 2023

The Wagner coup in Russia was an awkward, embarrassing, and potentially destabilizing moment for China. China’s quiet support for Russia—while adhering to the letter of U.S. sanctions—was a balancing act that has thus far played in China’s favor. As Alexander Gabuev of the Carnegie Endowment note...

Uzbek President re-elected
RUSSIA / FSU POLITICS · In Brief · 10 Jul 2023

On July 9 an election took place, and the result came on July 10. As expected, Shavkat Mirziyoyev was decisively re-elected. He will begin his third term. He took office in 2016. His term will last 7 years and he will be allowed to seek another one in 2030. Turnout was said by the election commis...

Watching Vilnius, reserves and the budget
TURKEY · Report · 09 Jul 2023

The politics author returns to work by discussing the potential electoral impact of the huge tax hikes at first. These will be highly painful to AKP voters in large urban centers, he thinks, but President Erdogan has other ways to engineer a victory at the March 2024 local elections. While it ...

Rate hike likely on Monday
ISRAEL · In Brief · 09 Jul 2023

We see a 60% probability of a 0.25% rate hike on Monday to 5.0%. What supports further tightening? Inflation remains sticky and accelerating in the service sectors. Granted, core inflation did slow to 4.9% y/y in May from 5.3% in April, but this was due to a sharp deceleration of core goods to 1....

S&P affirmed BBB-/Stable, but watch out for the details
HUNGARY · In Brief · 09 Jul 2023

On Friday, July 7, S&P did not change its Hungary sovereign credit rating, exactly as expected. This could be taken as completely market-neutral, but the agency's appraisal was not entirely innocent this time. S&P actually said that its Hungary macro forecast is based on the assumption that the E...

Russia bombards Ukraine as both sides face shortages
RUSSIA / FSU POLITICS · In Brief · 08 Jul 2023

On July 8 Ukraine said 8 or more people were killed when Russia struck a housing area in Donetsk with rockets. Russia maintains it only targets military sites. However, Russia's equipment is faulty, and it could simply be missing its target a lot. Ukraine's counter-offensive is in the south of th...

Zelensky visits Black Sea island to mark 500 days of war
RUSSIA / FSU POLITICS · In Brief · 08 Jul 2023

On July 8 he made a surprise to Snake Island. The 700 m by 700 m island is crucial in ensuring control of the eastern part of the Black Sea. A Russian warship famously asked its Ukrainian defenders to surrender on the first day of the war and they replied, ''Go F*** yourselves!'' Snake Island was...

Zelensky in Istanbul
RUSSIA / FSU POLITICS · In Brief · 07 Jul 2023

On July 7 the Ukrainian President met his Turkish counterpart. Zelensky had been in the Czech Republic on July 6 to thank the Czech Republic for arming Ukraine. Putin's spokesman said that Russia shall follow the talks with a keen eye. He said that Russia really treasures its relationship with Tu...

The House approved the Tax Reform proposal, the votes on the CARF bill and the new fiscal framework were postponed to August, and some members of Congress have vacation trips planned for this weekend, reducing the quorum
BRAZIL POLITICS · Report · 07 Jul 2023

The first round of voting on the Constitutional Amendment Proposal (PEC) on Tax Reform was approved by a large margin. There were 382 votes in favor. In the second round of voting, there were 375 votes in favor. The approval of the proposal in the House is a defeat for former President Jair Bolso...

GULF WEEKLY: Saudi extends "lollipop" oil cuts, KSA & UAE post strong PMIs, Qatar Airways hits record revenue
GULF COUNTRIES · Report · 07 Jul 2023 · 1 response

A skimmable summary overlaid with our analysis and links. Headlines: * Saudi Arabia extended its additional 1m b/d oil cut into August, and Russia pledged an extra 500k. * Oil has risen for a second week, with Brent touching $77, still below the Saudi fiscal breakeven. * Iran has attempted t...

South African forex reserves are out of sync with rising external vulnerabilities
SOUTH AFRICA · Report · 07 Jul 2023

Amidst elevated volatility, including a marked weakening of the rand over the past months, it is clear that the South African Reserve Bank still has no intention of intervening by using the country’s reserves, which include gold and other foreign reserves, as a buffer against foreign exchange pre...

Uzbekistan Primer
CAUCASUS / CENTRAL ASIA · Report · 07 Jul 2023

As Uzbekistan heads into the Sun Preseidential Elections, we have taken this as an opportunity to provide a deep dive into the country. These are our key takeaways: Uzbekistan seems to find itself in a sweet spot as the opening of the commodity-exporting country in 2016/17 has started to bea...

Copyright 2025 GlobalSource Partners. All rights reserved.