GlobalSource Partners | Country Insights

A session has been scheduled in the House for today starting at 5 p.m. to analyze Provisional Measure (MP) 1,076, which deals with the Auxílio Brasil payments of R$ 400, and MP 1,077/21, which creates the Internet Brazil Program. The new director of Financial System Organization and Resolution, R...

March’s CPI surprises on the downside

ISRAEL · Report · 18 Apr 2022

1. March’s CPI surprised on the downside, mostly due to the surprisingly soft increase in travel abroad costs. 2. We expect this item to support a stronger CPI print in April (0.8% m/m) and beyond. 3. We currently expect inflation to reach 2.8% in the next 12 months. 4. March’s CP...

Russian missile strikes on Ukraine

CIS POLITICS · In Brief · 18 Apr 2022

On April 18 missiles hit several Ukrainian cities, especially Lviv. This type of attack allows Russia to inflict losses without taking any risk itself. Ukraine does not have missiles with the range to enable them to retaliate.Fighting continues in Mariupol. Russia claims to have taken virtually t...

US says Belarus breaking export control ban

CIS POLITICS · In Brief · 18 Apr 2022

On April 13 the Commerce Department said 7 planes (all Boeing 737) used by Belavia had been flown despite this being banned by the US. The US has banned companies anywhere in the world from refuelling the planes, repairing them, selling them spare parts or servicing them in any way.The planes hav...

Kazakh ban on wheat exports means hunger for her neighbors

CIS POLITICS · In Brief · 17 Apr 2022

On April 16 the announcement was made. Other Central Asian countries buy 90% of their wheat from Kazakhstan. Kazakhstan buys wheat from Russia and re-exports some of it. Russia is the world's main exporter. Moscow has banned wheat exports to fellow members of the Eurasian Economic Union (EEU). Th...

Same old, same old

TURKEY · Report · 17 Apr 2022

Thanks to her “politically correct” stance on the war, Turkey had just started working on her terrible image, but new allegations of narco-trafficking, inmate maltreatment and human rights violations have now cropped up. While the veracity and impact of these on diplomatic relations require furth...

Russia calls on Mariupol to surrender

CIS POLITICS · In Brief · 17 Apr 2022

On April 17 Moscow said that if the city surrenders today the lives of its defenders shall be spared. But prisoners of wars' lives are guaranteed anyway under the Geneva Convention. Russia claims to control almost the whole of Mariupol. It has astonished most pundits that Mariupol has held out so...

March’s CPI surprises on the downside

ISRAEL · In Brief · 16 Apr 2022

March’s CPI surprises on the downside Inflation in March increased by 0.6% m/m (expectations were for 0.8%, ours as well) and by 3.5% y/y (similar to last month). Core inflation (excluding energy and fresh produce) increased by 3% y/y (similar to last month), with core inflation excluding governm...

Some Chinese edge away from Russia in complex operating conditions

CIS POLITICS · In Brief · 16 Apr 2022

Lifan, the Chinese motor manufacturer, has suspended sales in Russia. Lifan was the largest Chinese car brand sold in Russia in 2014-18. It seems that Lifan does not wish to operate in Russia and is not registering more vehicles there. Lifan's hotline is not working and it is not updating its soc...

Webinar Replay - Crisis in Peru: President Castillo against the wall

PERU · Report · 15 Apr 2022

Gain insights into Peru's political crisis and gauge how the turmoil will impact the country’s political and macro outlook. Visit our calendar page to watch the replay of our webinar featuring Alfredo Thorne discussing the protests against President Castillo and the likely fallout from the crisis.

Huawei furloughs staff in Russia

CIS POLITICS · In Brief · 14 Apr 2022

On April 13 the Chinese telecoms giant announced the move. This is probably partly because China faces secondary sanctions for trading with Russia. The USA has warned China not to assist Russia economically.A leave of absence has been imposed on Huawei staff in Russia. New supply contracts have b...

War intensifies as Ukraine claims to have destroyed warship and Moscow threatens to strike Kyiv

CIS POLITICS · In Brief · 14 Apr 2022

On April 14 Moscow said its Black Sea flagship had been badly damaged by an accidental explosion. Kyiv claims its Neptune missile struck the warship Moskva. Ukraine has been pleading with NATO to supply it with such missiles for weeks. Russia was able to land troops on the Ukrainian coast because...

MNB sterilisation rate unchanged today, the third time in row

HUNGARY · In Brief · 14 Apr 2022

Today's MNB deposit tender has been the third consecutive occasion that the Bank left the fix interest rate, at which it mops up all the free and willing HUF liquidity of banks for the following week, unchanged at 6.15%. As the forint has been conveniently trading within the EURHUF 375-380 range ...

Inflation is becoming a political nightmare

ARGENTINA · In Brief · 13 Apr 2022

Worldwide, the latest inflation indices have been reflecting a new global problem, based on rising energy and food prices, as the supply side shocks triggered by the Russian invasion of Ukraine spread across the markets. Yet, Argentina is not only not isolated from this problem, but also, on the ...

Inflation and war drives economic growth outlook lower

DOMINICAN REPUBLIC · Report · 13 Apr 2022

Although the economy grew at a good pace in January and February, the persistence of inflation is worrying in a context of oil prices above $100 per barrel, and the uncertainty generated by the Russia-Ukraine war. Cumulative January-February GDP growth was 6% y/y, and inflation reached 8.98% in M...