Turkish Defense Ministry: cargo ship with Ukrainian corn left the port of Chornomorsk on Thursday

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ANKARA, 18 Aug – A dry cargo ship carrying Ukrainian corn left the port of Chornomorsk on Thursday, four ships will head to Ukraine as part of a “grocery deal”, the Turkish Ministry of National Defense said. “As part of the shipment of grain, the ship I MARIA with corn left the port of Chornomorsk … Read more

The official dollar exchange rate on Thursday was 60.67 rubles, the euro – 62.61 rubles

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MOSCOW, 11 Aug – The ruble did not change against the dollar at the end of trading on Thursday and remained at the level of 60.67 rubles, but strengthened against the euro to 62.61 rubles, as follows from the data of the Moscow Exchange. The dollar exchange rate with settlements “tomorrow” at 19.00 Moscow time … Read more

The Bank of England made its bet // The British regulator supported the trend towards tightening monetary policy

The Bank of England on Thursday, following the US Federal Reserve System and the European Central Bank, decisively raised the interest rate – by 50 basis points at once, to 1.75% per annum. This was the most significant increase in the indicator over the past 27 years. In this way, the regulator is trying to … Read more

Their products are needed, their market share is unknown // State support for import substitution is complicated by companies’ ignorance of demand parameters

Under the sanctions, Russian enterprises will have to adapt not only to changes in demand for their products after the departure of suppliers, but also to change their approach to market analysis. To support domestic producers, the White House is ready to cancel the parallel import regime for certain groups of goods when Russian analogues … Read more

2023 is not the same as before // EC revised the macro forecast for the eurozone and the European Union

The European Commission (EC) on Thursday, July 14, again worsened the macroeconomic forecast for the countries of the European Union and the euro area. The main revision concerned the growth rates of economies in 2023: they are now expected to be almost one percentage point lower. Inflation expectations have been adjusted upwards – the peak … Read more

The official dollar exchange rate on Thursday fell to 58.53 rubles, the euro rose to 58.9

MOSCOW, 13 July – The official exchange rate of the dollar against the ruble, set by the Central Bank of the Russian Federation on Thursday, fell by 32.19 kopecks – to 58.5322 rubles, the euro rose by 13.59 kopecks, to 58.9002 rubles, follows from data Bank of Russia. The Central Bank of the Russian Federation … Read more

Half-turn to the East // New ways of logistics discussed at SPIEF

Russian companies have already partially reoriented the logistics of their supplies from the western to the eastern direction: for example, the turnover of the Far Eastern ports grew by 46% year-on-year. However, the majority of market participants who spoke at SPIEF on Thursday, June 16, preferred to speak cautiously about a full-fledged “pivot to the … Read more

The loan is ordered to become cheaper faster // The Bank of Russia lowered the key rate to 11% per annum to support demand

On Thursday, at an extraordinary meeting, the Board of Directors of the Bank of Russia decided to cut the key rate to 11% per annum from May 27. Significant — 300 basis points — the move down by the Central Bank was justified by a slowdown in inflation faster than forecast, the strengthening of the … Read more