S&P upgrades Ukraine’s ratings after debt restructuring

S&P raised Ukraine’s long-term foreign currency rating from SD (selective default) to CCC+. The decision was made in connection with the completion of Ukraine’s debt restructuring. The short-term foreign currency rating was upgraded from SD to C. The sovereign ratings in national currency were affirmed at CCC+ and C. The outlook for the long-term ratings … Read more

China is losing momentum // Monitoring of the world economy

The main indicators of the Chinese economy in July showed a slowdown in growth after a temporary acceleration in June. Industrial production grew by 3.8% over the year against 3.7% a month earlier, while the figure increased by 0.38% month on month. At the same time, the production of “new energy” cars and solar panels … Read more

Control and supervision will be recalculated before autumn // Mandatory requirements are promised an additional test for effectiveness

The White House has until September 1 to revise the lists of mandatory business requirements, which should come into force before the end of 2024. Additional expertise was required in connection with attempts to reduce administrative pressure on entrepreneurs in the face of sanctions due to the military operation of the Russian Federation in Ukraine … Read more

Dear Enemies // The rise in oil prices has made Russia one of the three largest suppliers of the European Union

The increase in prices for raw materials, primarily for energy resources, led to a sharp increase in supplies from Russia to the EU countries. According to Eurostat, in the first half of the year, the increase in European imports from Russia amounted to 78.9%, the country also remained the third largest supplier to the EU. … Read more

Far Eastern construction projects expand support // The government will extend a single subsidy for the macroregion

On Tuesday, August 16, the head of the Ministry for the Development of the Far East, Alexei Chekunkov, announced plans to extend the single subsidy program for the Far East after 2024. So far, this program provides for spending about 120 billion rubles. in 2018–2023. The preliminary results of the launch of the new program … Read more

Starbucks coffee houses in Russia will open under the name Stars coffee after the change of ownership

starbucks signboard

The network of former Starbucks coffee houses in Russia, bought out by rapper Timati, restaurateur Anton Pinsky and Senator Arsen Kanokov’s company Sindika, will be called Stars coffee. This was reported by the publication “Moscow 24”. Earlier, the co-owners submitted three applications to Rospatent for the registration of the names of coffee houses – Stars … Read more

We must pay tribute // Creditors of bankrupt construction are given back the right to compensation

The Ministry of Construction, following the decision of the Constitutional Court (CC), intends to close the legal gap that arose in 2019 with the introduction of a new regulation on shared construction in terms of protecting the rights of secured creditors who financed construction without being equity holders, this applies to both individuals who purchased … Read more

Gold in the blue eye // The state of the balance of payments of the Russian Federation in July is suspiciously brilliant

The Bank of Russia’s assessment of the balance of payments of the Russian Federation for July 2022, contrary to expectations, is stronger than the June figures: the foreign trade surplus of the Russian Federation for this month amounted to $33.9 billion. Analysts are already distrustful of them – a huge surplus should have been caused … Read more

The US labor market did not notice the recession // Monitoring of the world economy

The unemployment rate in the US in July, despite the reduction in the country’s GDP in the first half of the year, fell from 3.6% to 3.5%, 528 thousand jobs were created during the month, according to data from the US Department of Labor. Over the previous four months, the average monthly increase in the … Read more