GlobalSource Partners | Country Insights

Consumer prices rose by a higher-than-expected 1.4% in January, taking the 12-month rate to 12.2%, up from 11.8% a month earlier. Domestic-PPI inflation also rose to a 12-month rate of 8.8%, up from 7.4% in December (Table 1; Graph 1).Comparing contributions with the same month of the previous ye...

Fear

PHILIPPINES · In Brief · 03 Feb 2020

On February 2, as news broke of its first death from the coronavirus, the Philippine government decided to restrict entry of travelers coming from China, Hongkong and Macau. Those covered by the temporary ban include all foreign nationals without permanent resident visas who are either coming in ...

New week, new risks

TURKEY · Report · 02 Feb 2020 · 1 response

Another critical phase is approaching in the seemingly never-ending Syrian War. Assad’s forces captured the second largest town in the war-torn Syrian province, Maraat-al-Numan, possibly readying to lay siege to the capitol Idlib city. Speaking in Ankara, President Erdogan warned that Turkey woul...

SAUDI: Key Themes for the Saudi economy in 2020

GULF COUNTRIES · Report · 02 Feb 2020

Stimulus measures set to fade in 2020 as authorities balance debt sustainability and growth. Saudi's role as a stabilizer in the oil market isn’t likely to change but it will be challenged. Reform agenda is not over but likely taking a pause in 2020 due to high fiscal cost and limited successes.

Fidesz' membership will not be discussed by the EPP Political Assembly early next week

HUNGARY · In Brief · 02 Feb 2020

The European People's Party's Political Assembly, which is to meet on February 3-4, will not discuss Fidesz' membership in the party family. This was made clear by EPP president Donald Tusk at a meeting of the EPP's parliamentary faction on Wednesday. There is no clear majority within the EPP on ...

Gulf weekly: Coronavirus hurts oil, Houthis strike Saudi, Trump releases peace plan

GULF COUNTRIES · Report · 31 Jan 2020

The weekly is a skimmable summary of key developments by country, overlaid with our analysis and links to further information. Headlines include: * The OPEC+ meeting may be brought forward as oil falls to $56 on coronavirus concerns. * Gulf states gave a muted response to Trump’s Middle East ...

Guaidó retakes the initiative

VENEZUELA · Report · 31 Jan 2020

Juan Guaidó embarked on a surprise international tour to consolidate international support and retake the political initiative. The opposition coalition he leads wants not only fair legislative elections later this year but also a presidential election redo. The only way Guaidó can strengthen his...

Russian incomes up

RUSSIA / FSU POLITICS · In Brief · 31 Jan 2020

The Russian Statistics Agency announced on January 28 that disposable income increased by 0.8% in real terms in 2019. The majority of the increase came in the third quarter. This was a pleasant surprise after incomes dipped 1.8% in Q1. The overall increase is modest but still very welcome after i...

The Year of the Tin Rat: What can we expect?

PANAMA · Report · 30 Jan 2020

This month China celebrates “the Year of the Tin Rat,” which promises wealth and welfare for families and businesses. The outlook for 2020 for Panama is consistent with this expectation, according to most analysts. The reasons for this optimism (and its downside) are discussed in our report. Posi...

The NBU slashes prime rate by 250 bps down to 11%

UKRAINE · In Brief · 30 Jan 2020

On January 30th, the NBU Board cut prime rate by 250 basic points down to 11%. Consumer inflation slowing to +4.1% ytd in 2019, as well as permanent complaints about expensive loans made the downward rate revision inevitable. At the press-release the NBU mentioned it’s new target of 7% for prime ...

American-Israeli pardoned by Putin

RUSSIA / FSU POLITICS · In Brief · 30 Jan 2020

A dual US-Israeli citizen serving a prison sentence for drug possession in Russia was freed on January 30 by order of President Putin. The woman, Naama Issachar, had 9 grams of cannabis in her bag when she transited a Russian airport. Why has Issachar been set at liberty when since April 2019 Mos...

With trade uncertainty eased, 6% growth target can be achieved

CHINA · Forecast · 30 Jan 2020

The United States and China on January 16th struck a "phase one" trade deal, at least easing uncertainty over the future of U.S.-China trade relations. Exports rose 5% y/y in 2019, down 2.8 pps from 2018, while imports rose 1.2% y/y, down 11.6 pps. GDP rose 6.1% y/y last year, down 0.5 pps fro...

Inflation Report: Betting on a self-fulfilling prophecy

TURKEY · In Brief · 30 Jan 2020

The CBRT has released this year's first Inflation Report, according to which the Bank kept 2020 and 2021 yearend inflation forecasts unchanged at 8.2% (midpoint of 6.2%-10.2% band) and at 5.4% (midpoint of 3.0%-7.8% band), respectively. Similarly, the Bank tweaked the assumptions behind the forec...

More signs of optimism

INDONESIA · Report · 29 Jan 2020

Approaching the end of 2019, there seemed to be an improving sense of optimism among various segments of the population. On the political side, the success in the general election in the first half of 2019 and the success in installing a relatively strong cabinet in October 2019 fostered an impro...

Russia sells warplanes to Vietnam

RUSSIA / FSU POLITICS · In Brief · 29 Jan 2020

On January 29 it was announced that Russia has sold training jets worth a total of USD 305 million to Vietnam. Russia is the principal armourer of Vietnam. The planes are Yak 130s. The number of jets has not been disclosed. These planes have been sold to six other nations. These training planes c...