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Events
Databanks
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Argentina databank Aug 29 -
Brazil Economics databank Aug 18
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Central America databank Aug 27
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Chile databank Aug 26
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China databank Mar 21
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Colombia databank Sep 2
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Dominican Republic databank Aug 21
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Ecuador databank Aug 25
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Gulf Countries databank Sep 5
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Hungary databank Aug 19
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India databank Jun 26
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Mexico databank Aug 28
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Panama databank Jul 17
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Peru databank Aug 14
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Philippines databank Aug 6
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Poland databank Jul 16
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Russia Economics databank Aug 14
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South Africa databank Sep 5
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Turkey databank Aug 11
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Ukraine databank Aug 15
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Venezuela databank Sep 2
NEWS FLASH
UPCOMING WEBINAR - AND NOW FOR SOMETHING COMPLETELY DIFFERENT: BRAZIL...
COUNTRY INSIGHTS
With a ceasefire in place, markets will focus on internal politics
ISRAEL · In Brief · 23 May 2021
Geopolitics: Following 11 days of confrontation, a ceasefire was declared Friday morning which appears to be holding.The actual cost of this operation is not expected to be significant, but it will strengthen the position of the Ministry of Defense and its demand for a significant increase in the...
Three Weeks of the Condor
TURKEY · Report · 23 May 2021
Domestic politics has deteriorated into a farce, as a Mafia leader takes on the Interior Minister with Erdogan’s silent consent. We generate several scenarios about Erdogan’s silence and the endgame in this docu-drama. A new deal for up to 90 million does of BioNTech vaccines could end Turkey’s e...
Russia raises USD 1.8 billion in debt placement
RUSSIA / FSU POLITICS · In Brief · 22 May 2021 · 1 response
On May 20 the first debt placement took place since the US banned its banks from buying Russian Government debt. Foreigners bought 47% of the Eurobonds (i.e. debt denominated in EUR). The government debt coupons were sold by the Finance Ministry. EU banks bought much of the debt.The US Secretary ...
Canadian company tries to defend assets in Kyrgyzstan
RUSSIA / FSU POLITICS · In Brief · 21 May 2021
On May 17 Centerra Gold launched an arbitration action at the Arbitration Insitute in Stockholm. Kutmor, which is a gold mine in Kyrgyzstan, is being sequestrated. The process is to be completed in August.Kutmor is the only project in the country run under a concession. The mine is Centerra's mos...
Reopening is underway, the MNB is starting to tighten
HUNGARY · Report · 21 May 2021
The third wave of Covid, by far the most severe of all so far, has clearly been overcome. Given the relatively soft lockdown rules in force until most recently, aggressive domestic vaccination must have played a key role in this success. However, the epidemic is still far from finally being ov...
The South African Reserve Bank keeps interest rates unchanged despite mounting inflationary pressures
SOUTH AFRICA · Report · 21 May 2021
The South African Reserve Bank (SARB) has once again announced that it is keeping the benchmark interest rate unchanged following this week’s conclusion of its Monetary Policy Committee’s (MPC) third meeting of the year. The repo rate remains at 3.5% and the prime lending rate at 7%. The decision...
CPI considers further action against testifiers, Bolsonaro compliments Salles, and Administrative Reform proposal should be voted on next week
BRAZIL POLITICS · Report · 21 May 2021
Pazuello performs well in the COVID CPI in the Senate, and senators consider taking action against the Committee’s testifiers. The Eletrobras privatization was approved in the House and should be sent to the Senate for analysis. The Administrative Reform proposal is expected to be approved and wi...
GULF WEEKLY: US-Iran deal imminent, Covid surges in Bahrain, Oman’s EDO to raise $5bn
GULF COUNTRIES · Report · 21 May 2021
A skimmable summary overlaid with our analysis and links. Headlines: * We now see the chances of a US-Iran deal by May 28 as close to 50%, and 80% by July. * Bahrain’s Covid cases continued to rise sharply despite its rapid vaccine rollout. * Vaccinated Saudis were permitted to travel, incl...
Major Russian supermarkets amalgamating
RUSSIA / FSU POLITICS · In Brief · 21 May 2021
On May 19 it was announced that the chains are uniting. Magnit is buying the discount stroe Dixy for USD 1.25 billion. Mon May 20 Lenta announced it will buy the Billa stores for USD 263 million. Magnit is Russia's main supermarket brand.The Russian supermarket sector was fragmented. That is now ...
Legislative Commissions Finally Conformed
ECUADOR · In Brief · 20 May 2021
After two days of lack of consensus, the new majority formed by Creo-Independents, Pachakutik and Izquierda Democratica finally achieved the exact 70 necessary votes to conform the 15 specialized legislative commissions. However, presidents of these commissions that have nine members, were not ap...
US worried over Russian Military in Arctic
RUSSIA / FSU POLITICS · In Brief · 20 May 2021
On May 20 the Arctic Council met. The US expressed its dismay at Russian Military drills in the Arctic. Most members of the Arctic Council backed Washington. The US says the organization should emphasize ecology, safety at sea and the welfare of the autochthonous people.Russia wants to control th...
There are no conditions to implement a tax reform in 2021.
DOMINICAN REPUBLIC · In Brief · 20 May 2021 · 2 responses
In a long interview to review the first 9 months of his administration, President Luis Abinader indicated that there are no conditions for a tax reform in 2021 and that it is necessary to reach an agreement to see when is the best time to implement said reform. He said that the social forces of t...
Privatization of Eletrobras approved in the House, Pazuello resumes testimony in COVID CPI and Salles under investigation
BRAZIL POLITICS · Report · 20 May 2021
The provisional measure on the privatization of Eletrobras was approved in the House and will now be analyzed in the Senate. Pazuello perfomed well in the COVID CPI yesterday and should have another long day in the Committee today. Salles is being investigated for a corruption scheme to illegally...
Sberbank gives strongest shareholder returns in the world
RUSSIA / FSU POLITICS · In Brief · 20 May 2021
On May 19 Boston Consulting Group (BCG) published a study that showed that the Russian bank's performance since 2016 has provided higher dividends than any other bank anywhere. Sberbank is state controlled and it is a major lender. Sberbank is also Russia's biggest publicly listed company. It has...
Russia’s current account to strengthen in 2021
RUSSIA ECONOMICS · In Brief · 20 May 2021
The Central bank estimated that Russia’s current account widened to $28.1bn in 4m21 as an estimate of the 1Q21 balance of payments published earlier suggested that the current account surplus was at $16.8bn. If so, then the current account was particularly strong in April. Meanwhile, according to...