Economic news

The Zew Institute reported a sharp drop in investor and analyst confidence in the German economy in March. This was indicated by the index calculated by its experts, which amounted to minus 39.3 points against 54.3 points in February. Its collapse was a record since the end of 1991. The index this month was much […]

Bank Morgan Stanley has revised its previously published forecast for the Chinese economy to the downside. Now the bank’s analysts expect that in the current quarter, the country’s GDP will show zero growth compared to the previous quarterly period. China’s annual GDP growth forecast was cut by 0.6 percentage points to 3.9%. In addition, Morgan […]

The Daily Telegraph writes that Britain’s refusal to buy Russian wood pellets will cause a catastrophic worsening of the country’s energy crisis. This sanctions decision by the British authorities will lead to a significant increase in the cost of heating for residents. Over the past few years, most Britons have opted to switch to heating […]

The British Financial Markets Authority conducted a study. Its results showed that ATMs designed for transactions with cryptocurrencies are illegal. Companies that have installed such ATMs throughout the country do not have the appropriate license. As such, they must be removed as soon as possible. Otherwise, companies that have cryptocurrency ATMs will be penalized. According […]

War in Ukraine could cause global food shortages, reports The Guardian. The expected sharp increase in the cost of food products due to the suspension of wheat exports from the Russian Federation and Ukraine can only be compared with the consequences of the 2008 crisis. It is noted that food prices have already risen significantly […]

The Japanese company Bridgestone Group, which specializes in the production of tires, has announced the cessation of production in Russia. Its tire plant is located in the Russian city of Ulyanovsk. The company also indicated that it had decided to no longer supply its products to that country. The company has joined a long list […]

Chinese startup Pony.ai is developing systems for the production of unmanned vehicles. The company indicated its valuation increased by $3.2 billion, or 65%, to $8.5 billion during its latest round of fundraising. At the same time, the Pony.ai startup did not disclose how much money it received from investors. However, the head of the Chinese […]

The company “TMK” announced the end of the 4th quarter of last year with a net profit of 22.9 billion rubles. In quarterly terms, the growth was 37%. EBITDA showed an increase of 3 percentage points. According to the results of the reporting quarter, it amounted to 17%. By the end of the year, TMK’s […]

During morning trading on Monday, there is a decline in oil prices. At 08:07 Moscow time, the price of a barrel of Brent oil was $110.67, which is 1.78% lower than its price at the close of the trading session on Friday. WTI oil is also getting cheaper. The price of a barrel of this […]

The Bank of Russia has published the results of a survey of analysts about the state of the Russian economy in 2022. The majority of respondents expect a significant reduction of the GDP. The downturn in the Russian economy may reach 8%. Thus, inflation will rise to 20%. In the next two years, economic growth […]