All-weather deadlock // WEF considers the fight against climate change both insufficient and dangerous

The ineffectiveness of the climate change response was identified as the main threat for the next ten years by respondents to the Global Risk Perceptions Survey (GRPS) at the World Economic Forum (WEF). 77% of those surveyed believe that mitigation of the human impact on the climate has not yet begun or is at the … Read more

Protectionism Failed to Cope with Globalization // The US-China Trade War Helped Other Countries’ Exports

The trade war between the United States and China not only did not lead to catastrophic consequences on the world market, but also created new trade opportunities for many countries, analysts from the National Bureau of Economic Research (NBER) and the World Bank (WB) found out. The largest non-oil exporters, excluding the US and PRC, … Read more

There is no room for greens in central banks // IMF advises against making financial regulators ESG market players

Excessive enthusiasm for green finance by central banks, as well as political pressure on them under the ESG agenda, could lead to financial disaster, analysts at the International Monetary Fund (IMF) warn. The active involvement of central banks in the green transition can lead to excessive volatility in financial markets and even the emergence of … Read more

Distributor for the little ones // Artsana found a sales partner for Chicco toys in Russia

The Italian group Artsana, which produces Chicco toys, which are among the five best-selling brands in large chains in Russia, has found a partner to work in the Russian Federation. It was Inventive Toys, which will distribute the company’s products, including to marketplaces. Online toy sales have spurred campaign payments to families with children this … Read more

Repsolono slapped // Repsol sells the remaining assets of Gazprom Neft in the Russian Federation

As it became known to Kommersant, against the background of changes in the global strategy, the Spanish Repsol, formerly a large investor in the Russian fuel and energy complex, is leaving the country. The company will sell its stakes in the oil assets of Evrotek-Yugra and ASB Geo to its Russian partner, Gazprom Neft. The … Read more

ECB started “soft tightening” // The regulator will curtail the anti-crisis program by the end of March

The European Central Bank will complete the asset repurchase program under the quantitative easing anti-crisis program by the end of March next year. At the same time, the regulator will increase the purchase of assets under the basic program to € 40 billion per month in the second quarter of 2022 and to € 30 … Read more

Payments are being prepared for state construction companies // The Government is finalizing a mechanism to compensate for the rise in construction costs

State Expertise confirmed the rise in the cost of construction under the state order for 146 objects in the amount of 62 billion rubles. To solve the problem, the government proposes to allow at the beginning of 2022 to pay for the increase in the cost of work under contracts scheduled for completion this year. … Read more

Treasury will look after its subsidies // Exporters will be offered to exchange budget monitoring for convenient access to money

The Federal Treasury plans to launch a new digital mechanism for controlling the funds issued within the framework of export state support, said the head of the department, Roman Artyukhin, at the Federation Council yesterday. The mechanism is conceived as an analogue of tax monitoring – the system of soft control approved by the Federal … Read more

Houses and judges help // Sanctioned persons were always allowed to sue in Russia

Russian citizens and companies who have come under foreign sanctions will be able to transfer any dispute with a foreign counterparty to a Russian court, if the trial abroad has not yet been completed. According to the “Lugovoy law”, such a possibility was recognized by the Supreme Court of the Russian Federation (VS) in the … Read more