GlobalSource Partners | Country Insights

The National Congress has approved the fiscal reform bill, which includes measures to promote economic growth and mitigate the effects of the international economic crisis. The bill was submitted on June 11 and was considered under expedited legislative procedure by both the Senate and the Chambe...

GULF WEEKLY: Oil flows after US-Iran MoU, Kuwait and Qatar expect quite rapid restarts, Moody’s affirms Sharjah

GULF COUNTRIES · Report · 18 Jun 2026

A skimmable summary overlaid with our analysis and links. Headlines: * Transits have picked up through Hormuz, and prices dropped to $78 after the US-Iran MoU. * The 14-point deal offers Iran sanctions relief, unfreezing of assets and a $300bn fund. * The IEA sees oil demand falling by over ...

Cards on the table

BRAZIL ECONOMICS · Report · 18 Jun 2026

In a longer-than-usual meeting, the Copom ultimately decided on another 0.25 p.p. reduction in the Selic rate target, to 14.25% per year, as expected by the market and by us. That said, although the Copom’s assessment, expressed in the statement released after the meeting, is unequivocally more h...

Index of economic activity in May remains below pre-war levels

ISRAEL · In Brief · 18 Jun 2026

The Bank of Israel’s Monthly Index of Economic Activity declined by 0.4% in May. The index reflects the average monthly growth rate over the March-May period and captures the impact of the war on economic activity. The index readings for the previous two months were revised downward following the...

NBU keeps prime rate at 15% despite easing inflation

UKRAINE · In Brief · 18 Jun 2026

The NBU Board left the prime rate unchanged at 15% at its June meeting today. Consumer inflation eased in May to +0.9% m/m (or +8.2% y/y) from +1.4% m/m (or +8.6% y/y) in April. In early June, Ukraine received the next €2.8 billion wire from the EU, and we seemingly have positive news from Iran. ...

The Copom decided to cut the benchmark interest rate by 25 points, the Lower House approved the Freight Transportation Executive Order, and the STF decided on the liability of digital platforms for third-party content

BRAZIL POLITICS · Report · 18 Jun 2026

As expected, the Central Bank’s Monetary Policy Committee (Copom) decided to cut the benchmark interest rate (Selic) by 25 percentage points, bringing it to 14.25% per year. The Lower House approved yesterday the Freight Transportation Executive Order (MP 1,343/26). The floor adopted the report a...

TOPIC OF THE WEEK: The new shade of success? Think Uzbek green!

CAUCASUS / CENTRAL ASIA · Report · 18 Jun 2026

Uzbekistan is Central Asia’s rising heavyweight, and I have discussed its various shades of success, ranging from its improving macro-stability, narrowing twin deficits and rising quality of policy-making to its strengthening demographics and improving health statistics. One particular area that ...

Kazakhstan macro: The NBK cut the base rate and upgraded its growth forecast

KAZAKHSTAN · Forecast · 18 Jun 2026

Recently, several organizations released updated forecasts for Kazakhstan’s economy in 2026, and the outlook is looking a bit brighter than a few months ago. The economy is steadily moving toward a more balanced growth path while easing past overheating caused by heavy budget spending and rapid h...

Xi Jinping’s balancing act is not working

CHINA ADVISORY · Report · 18 Jun 2026

At the March meeting of China's legislature, the National People’s Congress, Party Secretary Xi Jinping noted the importance of fostering "new productive forces". By this he meant upgrading existing industries and supporting future industries such as semiconductors, AI, and robotics. However, pol...

The government proposes to end 'protected prices' on fuels

HUNGARY · In Brief · 18 Jun 2026 · 1 response

It seems Mr. Trump's latest intermediate peace deal with Iran plays to the hands of the new government of Hungary, through its beneficial impact on global energy prices. Last night, PM Magyar announced that his government is proposing to end the existing system of 'protected' retail fuel prices, ...

Bi-Weekly Economic News Summary

KAZAKHSTAN · In Brief · 17 Jun 2026 · 1 response

Jun 4 Qazaqgaz: The company and Russian Gazprom signed an agreement on additional gas supplies to Kazakhstan in 2026 Jun 5 NBK: The regulator lowered the base rate from 18% to 17%. NBK: The Bank has raised its forecast for the country's GDP growth in 2026 to 4.5-5.5% from the previously expected ...

The STF upheld the detention of Vorcaro’s cousin and father, the STF also convicted Eduardo Bolsonaro of coercion in the course of judicial proceedings, and the Lower House unblocked its agenda

BRAZIL POLITICS · Report · 17 Jun 2026

The Second Panel of the Federal Supreme Court (STF) upheld yesterday (June 16) the detention of Felipe Cançado Vorcaro and Henrique Moura Vorcaro, respectively the cousin and father of Banco Master owner Daniel Vorcaro. The final vote was 3–1. In the STF’s First Panel, former Federal Congressman ...

Managing inflation, preserving monetary policy credibility

PHILIPPINES · In Brief · 16 Jun 2026 · 1 response

If there is one key implication of inflation slowing from 7.2% in April to 6.8% in May, it is that the Bangko Sentral ng Pilipinas (BSP) now has greater flexibility in calibrating monetary policy. The moderation in inflation reduces the urgency for either an off-cycle policy meeting or an aggress...

May CPI fell by 0.3%; strong shekel and lower oil prices support further rate cuts

ISRAEL · In Brief · 16 Jun 2026

The May CPI fell by 0.3%, slightly below market expectations for a decline of 0.1%-0.2%. The decline was driven mainly by a sharp drop in overseas travel prices (-9.3%), reflecting both seasonal factors (airfare prices typically decline in May after the Passover holiday) and the sharp appreciatio...

The STF should hear the criminal case involving Congressman Eduardo Bolsonaro today, Paulo Gonet rejected Vorcaro’s second plea bargain, and Zé Trovão submitted his report on the Freight Transportation MP

BRAZIL POLITICS · Report · 16 Jun 2026

The First Panel of the Supreme Federal Court (STF) is scheduled to hear today the criminal case involving former Congressman Eduardo Bolsonaro (PL) and political commentator Paulo Figueiredo. The investigation stems from public statements and social media posts in which Eduardo Bolsonaro claimed ...