GlobalSource Partners | Country Insights

A skimmable summary overlaid with our analysis and links. Headlines: * Gulf states hiked interest rates by 75bp, bar Kuwait, which only raised by 25bp. * Oil slipped to the lowest since January despite a record shortfall in OPEC+ production. * There was no progress towards an Iran nuclear de...

Another 75-basis point repo rate increase by the South African Reserve Bank despite slowing inflation

SOUTH AFRICA · Report · 22 Sep 2022

Staying its course of policy normalization, the South African Reserve Bank hiked the benchmark interest rate by another 75 basis points during the Monetary Policy Committee’s (MPC) September meeting. With the repo rate climbing to 6.25% from 5.5%, the prime lending rate also increases, to 9.75% f...

Another 100 bps cut from the CBRT

TURKEY · In Brief · 22 Sep 2022

The CBRT/MPC cut the policy rate (one-week repo) by another 100 bps to 12% (simple) today. While this wasn’t the consensus expectation, we are not terribly surprised, as we had given more than even odds to such a move (see last Sunday’s Tracker). The MPC statement is almost identical to the previ...

Pro-Russian rebels release 10 foreigners

CIS POLITICS · In Brief · 22 Sep 2022

On September 21 the pro-Moscow Forces unexpectedly freed Britons, Croats, Americans, a Moroccan and a Swede. The ten men had been accused by the pro-Russian Donetsk People's Republic administration in East Ukraine of being mercenaries. Some of them had been sentenced to death. The men were freed ...

Putin calls for "partial mobilization" – an extra challenge to deal with

UKRAINE · In Brief · 21 Sep 2022

Well, we are moving to the "next level" of the war. Until Sept 21st, 2022, the Russian population was observing the invasion from the outside of the field, just cheering their team. Sanctions created some minor inconveniences but it’s nothing compared to the hardships Ukrainians had to pass throu...

Putin announces partial mobilization

CIS POLITICS · In Brief · 21 Sep 2022

On September 21 the president said that 300,000 men will be called up. He said that NATO countries had used nuclear blackmail against Russia. Putin reminded the world that Russia possesses nuclear weapons, too. He warned that if Russia's territorial integrity was threatened then Russia would resp...

Hurricane Fiona strongly impacts the eastern and northeastern provinces of the country

DOMINICAN REPUBLIC · In Brief · 20 Sep 2022

Hurricane Fiona made landfall in the Dominican Republic early Monday with winds of 150 kilometers per hour. It had a strong impact on east and northeast regions, mainly affecting the provinces of La Altagracia, El Seibo, Hato Mayor, Samaná, Duarte and María Trinidad Sánchez. So far there has been...

State Deputy Douglas Garcia verbally attacked journalist Vera Magalhães during a TV debate, Lula to participate in a political event in Minas Gerais, and the TCU determined that the BNDES must refund R$ 88 billion in public resources

BRAZIL POLITICS · Report · 15 Sep 2022

Vera Magalhães had already been subjected to a harsh response from Jair Bolsonaro during the presidential debate held by Band. State Deputy Douglas Garcia attended the debate at the invitation of Tarcísio de Freitas, candidate for governor. State deputies from the PT said they will submit an impe...

China and Russia hold naval exercises

CIS POLITICS · In Brief · 15 Sep 2022

On September 15 the neighbors held the exercises in the Pacific Ocean. They wish to challenge American hegemony. Destroyers carried out live fire exercises and helicopter deck flights. The Russian Defense Ministry has been eager to publicize the exercises. It published videos. The communique ment...

Zelensky visits Izyum as Ukraine advances

CIS POLITICS · In Brief · 15 Sep 2022

On September 15 the Ukrainian President visited the recently liberated city. Ukrainian Forces are pushing deeper into the Donbas. Western analysts think that this counter-offensive may soon run out of steam. Ukrainian supply lines are being stretched. Russian resistance is stiffening. Zelensky p...

Economic growth decelerates in August, albeit unevenly across sectors

KAZAKHSTAN · In Brief · 15 Sep 2022

The Bureau of National Statistics reported that the short-term indicator (a monthly proxy for GDP) grew by 3.7% in 8M22 (in 7M22 it was up by 4.0%). The Kazakh statistical agency doesn't publish m-o-m and even y-o-y monthly figures for some economic indicators so that only cumulative numbers, suc...

Lula resumes the utilitarian voting approach, Bolsonaro appealed to women in his interview last night, and the TSE unanimously approved the implementation of one of the Armed Forces’ suggestions to increase electronic ballot box security

BRAZIL POLITICS · Report · 14 Sep 2022

In a meeting on Tuesday Lula said, “There are candidates who have 1% and still believe they will win, so with my 46%, I have to believe that, within the next 20 days, it is possible to gain the remaining 5% of votes that we need to win the elections.” With an eye on the female electorate, Bolsona...

Pandemic statistics update - September 14, 2022

CHINA ADVISORY · Report · 14 Sep 2022

Preliminary traffic and box office data suggests a slight improvement in conditions in China despite the continuing Covid lockdowns. After making strong gains for the early part of the summer, box office increases year on year dropped off in early September due to rising lockdowns. However, box ...

Further news on EU transfers

HUNGARY · In Brief · 14 Sep 2022

The local press (Népszava) reported this morning, referring to unofficial sources in Brussels, that the EU Commission is preparing to decide this Sunday (September 18) if it proposes sanctions against Hungary, and on what conditions, because of rule-of-law concerns. This would be just a few days ...

Halliburton out of Russia

CIS POLITICS · In Brief · 14 Sep 2022

On September 8 the US oilfield services company said it was leaving Russia. It is one of the world's major oil product and service companies. Many consider it tardy in withdrawing from Russia. Halliburton has sold its Russian operation to Russian-based managers who formerly worked for Halliburton...