Eurozone Heading For Recession
In September the Eurozone’s economic downturn deepened, as the bloc endured a third consecutive month of contracting business activity, according to a new survey by S&P Global showed. The report…
Russian Alternative To SWIFT System Growing Rapidly
Alla Bakina, the head of the Russian central bank’s national payment system department announced that Russia’s SPFS interbank messaging system has grown faster this year than ever before. Bakina noted…
UK Consumer Confidence Collapses
According to a new study by research group GfK, UK consumer confidence has collapsed to its lowest level since records began being kept in 1974, as deep concerns over inflation,…
European Businesses Transfer Operations To Escape Fuel Shortages And Costs
As energy prices in Europe skyrocket, and gas shortages abound, many European companies are finding they can no longer compete with competitors abroad. As a result, they are choosing to…
Russia’s Wheat Harvest Bountiful, But Export Is Difficult
Russia is presently on track for a historic 100 million ton wheat harvest, according to data from consultant SovEcom. Yet the commodity is piling up in the nation, as exporters…
Food Prices, Especially Bread Soar Across The EU
As the EU witnesses record inflation sweep through every sector, staple foods are among the hardest hit, with Bread prices reaching record highs. Year over year, the price of bread…
PBOC Cuts 14-Day Reverse Repo Rate, Ups Cash Injections
14-day reverse-repo borrowing costs were lowered on Monday by China’s central bank as it increased cash injections in an effort to counter higher demand towards the quarter end. 2 billion…
Canadian Household Net Worth Drops Record Amount
The net worth of Canada’s households dropped by almost $1 trillion Canadian dollars ($775 billion) in the second quarter, according to data from Statistics Canada. According to the report, household…
Lockdown Threats Lift As Covid Cases Decline In China
On September 18th, there were 990 new Covid-19 cases, with 147 symptomatic and 843 asymptomatic, according to data from the National Health Commission released Monday. By comparison, that was down…
Russia Drops Key Interest Rate As Inflation Slows
Following a monetary policy meeting on Friday, the Russian Central Bank announced it has lowered its benchmark interest rate 50 basis points to 7.5%, as annual inflation unexpectedly slowed down.…
