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Inflation in Belarus has fallen, but that has less to do with central bank policy and more to do with the fact that the government has fixed prices.
Decades on from Russia’s wild 1990s, the country’s cultural landscape continues to be largely shaped by the enduring influence of the giants that hogged the limelight in the shadow of the former Soviet Union.
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.
Russian banks earned profits of $3.4bn in January, the most ever for the first month of the year, but the banking sector is still limping from the shock of extreme sanctions imposed last year.
Fall deepens dramatically after a decline of 0.3% y/y the preceding month.
The February fall is the first since May 2020 and was more than 2pp below the consensus line.
Inflation is currently expected to begin easing – albeit very slowly – from March on, although the average inflation in 2023 appears certain to remain in double digits.
Analysts predict the CPI to embark on an extended descent that might see the index down at around 10% y/y at the end of the year.
Positive growth in January doesn’t change the big picture: the country is close to five years of industrial decline.
From March, Russians struggling to make ends meet will be able to take “credit holidays” for mortgages, consumer loans and credit card bills.
Russian inflation figures for February show the rate fell slightly below market expectations at 11% year on year. However, experts predict that it will fall further in March, to the central bank's target rate of 4% as base effects take hold.
Gloria Jeans is back. The store that officially sold the first Levi’s jeans in Russia after the collapse of the Soviet Union has closed a deal to take over Sweden’s H&M flagship store on Tverskaya, the main thoroughfare in Moscow.
Plant shutdowns due to energy price pressure could have contributed to surprise result.
Annual CPI inflation retreated to 8.1% in February from a 9.4% inflation rate the previous month, Galt & Taggart reports.
After McDonald's pulled out of Russia when the war in Ukraine started last year, its restaurants were rapidly taken over by a Russian replacement called Vkusno I Tochka ("Tasty, period") which now plans to introduce its own Happy Meal, The Kids Combo
Foreign investors from countries Russia deems unfriendly have been offloading billions of rubles' worth of Kremlin OFZ treasury bonds at steep discounts of up to 85%, bne IntelliNews can reveal.
Further increase after Moldova's public debt surged by €800mn in 2022, the second-steepest advance ever.
Popular maths app has already raised funding from Silicon Valley venture capital firms.
The reading is below the consensus, which expected a feeble gain of 0.3% y/y.