GlobalSource Partners | Country Insights

Last week, the Mexican Congress amended the country’s National Security Law to regulate the presence and operations of foreign agents within Mexico. Everything indicates that the regulatory changes are directly aimed at US Drug Enforcement Agency (DEA) agents operating in the country. The changes...

Economics: Risk sources expand as the year ends

MEXICO · Report · 21 Dec 2020 · 1 response

In this, our last issue for a year in which Mexico’s economy will experience its greatest contraction in 90 years, we take a quick look at the direction of the most recent economic indicators, assess sources of heightened risk moving forward, and offer our outlook for the coming year. There have...

Inflation remains low, rental prices moderate

ISRAEL · Report · 21 Dec 2020

Inflation is expected to reach 0.4% in the NTM on higher commodity and housing prices, while the shekel continues to appreciate. The current account surplus improved sharply in Q320 on strong export growth. Residential starts and completions remain below demand, supportive of higher prices in 202...

Russia's economic situation in November remains stable

RUSSIA ECONOMICS · In Brief · 21 Dec 2020

Rosstat reported that trends in the key sectors, such as retail sales, construction, transport, industry, agriculture remained relatively unchanged in November. GKEM Analytica mentioned earlier that industrial output was catching up with pre-pandemic levels, and in 11M20, it was down by a mere 3....

Russia send soldiers to Central African Republic

RUSSIA / FSU POLITICS · In Brief · 21 Dec 2020

On December 21 Russia dispatched troops to the Central African Republic (CAR). The reason is ostensibly to forestall a putsch planned for the upcoming weekend. Rwandan troops joined the Russian mission.The CAR accused the erstwhile president Francois Bozize of planning a forcible seizure of power...

Saudi shuts borders and Dubai stocks crash over new Covid strain

GULF COUNTRIES · In Brief · 21 Dec 2020

Concerns are growing about a mutation of coronavirus which emerged in September and has become the predominant strain in parts of the UK during December. Preliminary results suggest it may be up to 70% more transmissible, although this is not confirmed. The UK government, which announced more str...

Inflation remains low, rental prices moderate

ISRAEL · In Brief · 20 Dec 2020

Highlights of weekly macro review:November’s CPI (-0.2% m/m) was in line with expectations Headline inflation (-0.6% y/y) and core inflation (-0.2% y/y) reflect a low inflationary environment, mostly due to a steady shekel appreciation.Rental (equivalent) prices moderated to 1.1% y/y from 1.7% la...

US closing last consulates in Russia

RUSSIA / FSU POLITICS · In Brief · 20 Dec 2020

On November 19 the US announced that it will close its consulates in Vladivostok and Yekaterinburg. The only US diplomatic mission left in Russia shall be the embassy. The US said the decision was taken for the sake of security.The decision emphasizes how Russo-US relations are at their lowest eb...

US accuses Russia of gigantic cyberattack

RUSSIA / FSU POLITICS · In Brief · 19 Dec 2020

On December 19 the United States said that Russia had carried out a cyberattack on several government agencies.On December 17 Microsoft said 40 major customers were attacked with malware. This enabled the attackers to gain access to systems. Electric power grids were among the systems exposed. 80...

The IMF starts on-line mission to Ukraine

UKRAINE · In Brief · 19 Dec 2020

The IMF mission will start first review under current Stand-By Arrangement on Dec 21st, according to Interfax News agency, citing words of the IMF representative in Ukraine Gösta Ljungman. The meetings will be online. They will start next week and will resume in January 2021. Finally, Ukrainian a...

Russian National Guard to assist Belarus

RUSSIA / FSU POLITICS · In Brief · 18 Dec 2020

On December 19 an agreement was signed empowering the Russian National Guard to operate in Belarus. The stated objective is to combat ''terrorism''.In August the two governments contemplated the deployment of the Russian Police to Belarus. Since then the situation seemed to become more placid. Ho...

Two-year sports ban for Russia

RUSSIA / FSU POLITICS · In Brief · 18 Dec 2020

On December 17 the Court for Arbitration in Sport announced that Russia would be prohibited from taking part in international sports. This two-year ban will prevent Russia from participating in the Tokyo Olympics in the summer of 2021 and the Winter Olympics in 2022.The CAS had initially decided ...

A Positive Scenario "ma non troppo" for 2021

BRAZIL ECONOMICS · Forecast · 18 Dec 2020

For a brief period (2 quarters at most) the pandemic shut down the economy, producing a deep but short recession, but thanks to the strong fiscal expansion the recovery has been rapid. However, Brazil still has no plan for vaccination, and for an extended period it will be necessary to live with ...

GULF WEEKLY: Saudi GDP & budget, Dubai recovery signs, new Kuwaiti cabinet

GULF COUNTRIES · Report · 18 Dec 2020 · 1 response

A skimmable summary of key developments overlaid with our analysis and links to further information. Headlines include: * 2021 oil demand was revised down further, only making up about 60% of the 2020 decline. * Iranian statements were supportive of a deal with Biden but the execution of a jo...

Covid’s second wave has peaked, no veto on the EU budget

HUNGARY · Report · 18 Dec 2020

The Covid restrictions introduced in November seem to be working, even though the health care sector is missing an outright debacle only rather narrowly. But the number of daily new infections peaked in early December and has been decreasing ever since. Improvement is only initial and limited for...