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The Eurasian Development Bank (EDB) plans to invest at least $400mn in water and energy infrastructure in Central Asia over the next three years in an effort to boost economic growth and improve food security.
The global energy transition is “off-track”, aggravated by the effects of world-wide crises, says the International Renewable Energy Agency in a new report. A renewables investment of $35 trillion by 2030 is needed for the energy transition.
Food and energy prices surged to near historic highs in recent years amid the pandemic and the war in Ukraine, which prompted major supply disruptions. This was accompanied by a sharp rise in the volatility of commodity prices as well.
Trafigura, one of the world’s largest commodity traders, expects copper prices to rise by a third from its current levels due to a global shortage and hit $12,000 per tonne within the next 12 months.
Monetary Council keeps base rate on hold at 13.00%.
Russia took over the chairmanship of the Eurasian Economic Union (EEU) at the start of this year and is looking to the trade club as one of the ways it can expand its trade after the Western world has increasingly cut ties due to sanctions.
The issue of the country's Swiss franc mortgages is coming to a head just as financial contagion is spreading in the wake of the collapse of SVB and the forced takeover of Credit Suisse.
Foreign companies that want to exit Russia will have to pay 5%-10% of their value to the state budget as a form of “exit tax,” said MinFin, as the share of foreigner holding of federal treasury bonds has fallen by over RUB1 trillion.
Russian investment bank BCS has upgraded the Russian equity market to a “buy” with a 45% upside for 2023, the bank said in a note on March 27.
Hungary is the only EU country where Rosatom is still involved in building a nuclear power plant, as it has been excluded from projects in Czechia, Bulgaria, and Finland after the invasion of Ukraine.
Russia’s federal budget deficit for the first ten days of March has already exceeded the planned RUB2.9bn for the entire year of 2023, Russian Prime Minister Mikhail Mishustin admitted on March 24.
Russia’s Economic Development Ministry upgrades its economic growth forecast for 2023 from a fall of 0.8% to some small growth of between 0.1% and 0.2%, Minister Maxim Reshetnikov said March 24.
Russia is drafting a bill that would allow individuals to privately mine gold, Vedomosti daily reported. There are already 247 placer gold miners registered in Russia each producing less than 30kg a year.
The timing of arms supplies to Ukraine is crucial now that military experts argue that the right moment to launch an offensive against the invading Russian forces is just weeks away.
South Africa declares a state of disaster as it grapples with a severe energy crisis that has far-reaching impacts on its economy and society. The country's coal-fired power plants, which generate 95% of its electricity, fail to provide enough power.
Investment into new shopping centres is going strong in the smaller markets of the Western Balkans and outside the main cities in Southeast Europe's EU members where demand for new modern retail space is high.
Country’s banking system assessed as in strongest position it has been in for many years, but vulnerabilities “could be exposed if concerns about the global banking system were to escalate”.
“We will fulfil our historical responsibility against one-man rule,” says co-chair of pro-Kurdish HDP.
The pace and scale of what has been done so far to combat climate change, and current plans, are insufficient to tackle the problem, said scientists in the latest Intergovernmental Panel on Climate Change (IPCC) report.