The world is set to see global GDP plummet by a catastrophic 15% by 2050 if current emissions trends are not reined in and global warming reaches 2.2°C by 2050.
Reporters Without Borders (RWB) counts a total of 57 journalists and media workers that have been killed this year because of their job, including eight killed in Ukraine, the second most deadly location in the world.
Russian e-scooter-sharing service Whoosh's IPO on the Moscow Exchange raised RUB2.1bn from a 10% free float.
Banking group TCS, operating Russia’s only purely online bank Tinkoff, is considering buying Tockha fintech service for SMEs and entrepreneurs for RUB20bn ($317mn), Kommersant daily reported citing unnamed banking sources.
There used to be 60 different foreign car brands in Russia, one of the biggest car markets in Europe, but by the end of this year only 11 will be left, reports Kommersant.
The global economy has been through some enormous changes in recent years, leading investors and analysts to believe we are at the start of a new high-inflation, lower-growth super-cycle that could last for as long as a decade.
Interest rate hikes have eased price pressures, but the weather, war and material costs could keep food prices elevated for longer,
Rosatom aims to build the first nuclear reactor in Saudi Arabia as part of the company’s global drive to break into emerging markets for atomic energy
Eastern European critics argue that Paris’ ambiguous stance threatens to fracture the West’s unity against Russia, and emboldens Putin to continue prosecuting the war until he wins concessions.
In December the EU commissioned a secret report to assess just how badly the war in Ukraine, and the polycrisis it is fuelling, is hurting Europe’s economy. Good news: Europe is doing OK; bad news: so is Russia.
The EU has done a deal with bad-boy Hungary that gets Budapest’s agreement on a global minimum tax and the €18bn Ukraine macro-aid package. In return Hungarian Prime Minister Viktor Orban had the frozen EU funds he wanted released.
Debate of what should go into the EU’s ninth package of sanctions is bogged down in disagreement. EU foreign ministers met on December 12 to think up more measures to punish Russia for its war in Ukraine, but could not agree on how best to do this.
The first train at Novatek’s 20mn tpy Arctic LNG-2 project is still on track to start up in December next year, while the second and third trains should come online in 2024 and 2026 as initially planned, according to a project director.
Global debt remained above pre-pandemic levels in 2021 even after posting its steepest decline in 70 years, underscoring the challenges for policymakers.
Service offers to release Russian investors’ assets blocked on international crypto exchanges are springing up in the darknet, reports East West Digital News.
Russia posted a current account surplus of $10.3bn in November, down from $17.7bn in October and $16.5bn last November, but much higher than the surpluses seen in November of 2019 and 2020.
In April 2021 gold was sitting around a price of $1,700; as of December 10, 2022 it is now approaching $1,800. Relative to just about every other asset class, this is not a bad performance.
Russia’s inflation in November came at 0.37% m/m, implying 11.98% y/y price growth, which came in slightly higher than analysts' forecasts based on weekly statistics.
Russia’s steel sector surprised this year as despite the sanctions, logistical bottlenecks and contracting economy, steel production was up 4.8% y/y on 10M22, while general economic growth was down 2.1% in the same period.
The EC agreed that each member state will take on financial responsibility individually and the money will not be lent at EU level, to avoid the Hungarian veto.