China: China’s Inflation Slows in April
Bloomberg reports that in April consumer inflation in China rose 1.8 over the same period of the previous year and reached a 18-month low. Producer prices recorded a 2.0% drop, which represents the 26th decline in a row. Bloomberg comments that this gives the government more scope to apply a loose monetary policy approach should the economy slow down further.
Ukraine: Ukraine Refuses Russian Demand for Advance Gas Payment
According to the BBC News, Ukraine will not pay in advance for Russian gas at Gazprom’s new, higher price, the Ukrainian Energy Minister Yuriy Prodan has said. Russia made the demand after saying Ukraine had failed to pay the bill for its April natural gas deliveries. The bill was calculated using the new rate of USD 485.50.
Australia: RBA Says Loose Policy Likely to Be Appropriate for Some Time
Bloomberg reports that the Reserve Bank of Australia reinforced that interest rates will remain on hold for the foreseeable future as a fall in mining investment and fiscal tightening weigh on growth.
India: Even Strong Reforms May Not Help Too Much, says Moody’s
A new report by Moody’s contends that India will not return to growth rates above 7.0% in the near future even if it pursues a strong reform agenda.
Russia: Putin Said to Seek Chinese Investment With Bars on Mining
Bloomberg reports that Russian President Vladimir Putin is planning to tighten the relations with China, followoing a series of sanctions imposed by the US and Europe. As the governmnet want to attract investments from world’s second-largest economy, the chinese won’t be welcomed in all the economic areas. Russia will put “red lines” around significant industries like gold, platinum-group metals, dimond mining and high-tech projects.