Bank
A drop in global commodity prices would help reduce domestic inflation, according to the head of economics at Citigroup Inc. "India, being a net importer of commodities, should benefit from inflation," Samiran Chakraborty told Bloomberg. He added that India will still face pressure from the global slowdown, as
Finance
The Makhachkala wind power plant with a capacity of 12.5 MW is currently being implemented in Dagestan. In April, the Ministry of Energy and Tariffs also promised to build five solar power plants within three years: this will provide 250 thousand people with energy and another 90 people with
Finance
Not long ago, Fed Chairman Powell stated that "U.S. consumers are in very good financial shape. Meanwhile, the savings potential of the population has already fallen below 4%, and the demand for consumer credit is growing despite high rates.
Europe
According to Citigroup, industrial gas use in the UK alone fell by about 49% in June compared to May. The drop in consumption is due to reduced exports from Russia via the Nord Stream pipeline. Europe has already seen a 15-20% drop in gas demand due to high prices,
Finance
According to reports from employees at the Shanghai Gigafactory, Tesla plans to upgrade the facility in the first two weeks of July. COVID-19 restrictions are no longer the cause of production stoppages. The company has already lost a significant amount of production momentum this spring amid a spike in
Europe
Powell believes that the current economic situation creates barriers for real estate developers. Powell: Current wage growth is incompatible with 2% inflation. However, we don't want to slow the rate of wage growth. We need more "sustainable" measures. Lower inflation will get the economy back on
Finance
This is due to semiconductor shortages and supply chain disruptions. The company specified that the production plan may be lower, "as it is still difficult to look ahead.
Finance
In Russia there is a pilot project for the sale of aquatic bioresources on exchanges, but it does not assume the obligation of market participants to sell some products on such trading platforms. The Ministry of Finance proposed to establish quantitative norms for the sale of goods on the exchange
Bank
Russian banks continue to cut offices. In May, according to the Central Bank, Sberbank increased its activity by closing 70 offices. Experts estimate that the reduction will allow banks to save up to 100 billion rubles a year. In May Sberbank accelerated the closure of additional offices and for the
Europe
Action is expected to combat "fragmentation" in the currency bloc, trading data show. As of 1 p.m., the euro to dollar exchange rate is rising to $1.0533.
Bank
We always strive to make our intentions as clear as possible. We will do everything we can to achieve our dual goals. Financial conditions have tightened, and rightly so. We want to see a series of declining monthly inflation figures. We should stay neutral. That would get us to a
Finance
A hike of an accelerated rate hike would help ensure the sustainability of long-term inflation expectations. Our projections are not a blueprint; no one knows exactly where the economy will be in a year. Powell at the Fed: The pace of rate hikes will depend on incoming data. Don&