Services

COUNTRY INSIGHTS

The first-round vote on the Court-ordered payments PEC was unsuccessful, the House approved the bill to create a gas subsidy for low-income families, and the TSE resumes judgment of the cases calling for the revocation of Bolsonaro’s electoral ticket
BRAZIL POLITICS · Report · 28 Oct 2021

The government will try to approve the Court-ordered payments PEC again today. Deputies of the opposition are asking for the FUNDEF’S court orders to be removed from the spending ceiling. The provisional measure that instituted the Auxílio Brasil program determines that 90 days after its enactmen...

Growth falls amid global energy crisis
CHINA · Report · 28 Oct 2021

Growth slowed, with real estate investment cooling dramatically. In Q3, GDP rose 4.9% y/y, the same rate as in Q3 2020, and lower than in Q2 2021. Industrial output in Q3 rose 4.9% y/y, down 0.9 pps from Q3 2020, and was up 2.1% y/y in September -- a major fall. Investment was up 7.3% y/y, wit...

Uncontrolled Delta seems stronger than partial vaccination
HUNGARY · In Brief · 28 Oct 2021

At least according to the recent Covid data of Hungary. The latter shows that the ongoing 4th wave is running up pretty much in tandem with the 2nd wave of the same season of last year. Currently, daily new infections (7-day average, reported this morning) are at 115% of the same date of 2020, an...

Industrial growth remains strong in September
RUSSIA ECONOMICS · In Brief · 28 Oct 2021 · 1 response

Rosstat reported that industrial output grew y-o-y by 4.7%, 6.2%, and 6.8% in 9M21, 3Q21, and September alone. Seasonally and calendar-adjusted industrial output grew by 1.7% m-o-m.Mining was up by 3.0%, 9.4%, and 9.5% y-o-y over the same periods. As oil and gas extraction combined was up by 0.9%...

​The saga of 10 Ambassadors: Turkey’s DIY[1] crisis
TURKEY · In Brief · 27 Oct 2021 · 1 response

Erdogan’s rage against 10 Ambassadors who jointly issued a statement urging Turkey to release philanthropist Mr. Osman Kavala has made it to world media headlines.However, the question of who bested whom at the end, and why the crisis was triggered requires explanation. Yours Truly once again det...

​President Abinader will not present tax reform.
DOMINICAN REPUBLIC · In Brief · 27 Oct 2021 · 1 response

In the long-awaited address to the country, President Luis Abinader announced that he will not submit a tax reform to Congress or increase taxes. He indicated that the only priority at this time is to consolidate the economic recovery and continue betting on growth and investment. The Government ...

​The Gulf response to the coup is critical to Sudan’s future
GULF COUNTRIES · Report · 27 Oct 2021

General Burhan likely assumed he could count on the Gulf support when he staged a military coup this week. However, the response from Gulf countries has been ambivalent, and the US is urging them to press Sudan for a return to the civilian-led transitional government. A year ago, Saudi Arabia an...

The vote on the court-ordered payments PEC was postponed to today, the Senate CAE holds a public hearing on the income tax bill, and Rodrigo Pacheco formally joins the PSD today
BRAZIL POLITICS · Report · 27 Oct 2021

Despite the procedural rules prohibiting edits to the PEC, Lower House President Arthur Lira said edits would be allowed during the vote in the plenary of the House. The trend is for approval. There is still no deadline for the rapporteur, Senator Angelo Coronel, to submit his report on the incom...

Russia seeks the lifting of sanctions for the sake of climate change
RUSSIA / FSU POLITICS · In Brief · 27 Oct 2021

On October 22 the Russian government said that at COP26 summit in Glasgow, UK it will ask for sanctions to be terminated. If Russia is to meet the targets on carbon emission reduction this needs to happen. The UN is asking Gazprom to stop methane leaks. However, sanctions on Gazprom make this dif...

Uzbekistan: president wins an election condemned for fraud
RUSSIA / FSU POLITICS · In Brief · 26 Oct 2021

On October 24 Shavkat Mirziyoyev was re-elected to his second 5-year term. He won 80% of the vote. The remaining 20% was divided between several candidates who are virtual unknowns and garnered minimal media attention. The second placed candidate was a woman who won 70%. A woman president is unth...

OFZ: The yield curve has become inverted – the first time since 2017
RUSSIA ECONOMICS · In Brief · 26 Oct 2021 · 1 response

Friday’s CBR decision to hike the key rate by 75 bps (to 7.5%), accompanied by a hawkish statement from the regulator, became a negative surprise for the bond market. Despite the acceleration of inflation, which reached 7.8% as of October 20, the market was expecting a more moderate action, but t...

Economics: Rising inflation and wage expectations could complicate the 2022 outlook
MEXICO · Report · 26 Oct 2021

The average contract wages of formal sector workers experienced significant gains in the past three years that stand in contrast to the largely flat trajectory of hourly income during the previous ten years. However, those increases have not coincided with improvements to labor productivity nor e...

The De Facto End of the Spending Cap and the Central Bank’s Reaction
BRAZIL ECONOMICS · Report · 26 Oct 2021

Last week, the spending cap rule ended. The increase of the Bolsa Família program and other transfers to the needy is only part of the spending increase, whose real objective is to increase the president’s popularity and satisfy his congressional base. As could not otherwise have occurred, the ri...

Reports show the government is looking into privatizing Petrobras, concerns increase about a possible trucker driver strike on November 1 and the House begins analysis of the court-ordered payments PEC
BRAZIL POLITICS · Report · 26 Oct 2021

Guedes is in favor of selling Petrobras, however, passing a bill of this nature would be very difficult right now – there are only nine weeks left until the parliamentary recess. The opposition is participating in the truck driver meetings, therefore, it is demanding more attention from the gover...

Politics: The fate of the latest energy reform bill hinges on how PRI lawmakers line up
MEXICO · Report · 25 Oct 2021

Mexico has been drawn into a debate over what type of electric power system the country needs, and clearly there is some room for improvement. But there appears to be a serious risk that opponents of President López Obrador’s efforts to establish strict state control over the electric power secto...

Copyright 2024 GlobalSource Partners. All rights reserved.