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August 30, 2022 Economic and Trade Consulting

2022-08-30

1.    Brazil's consumer confidence index hits two-year high

Brazilian consumer confidence peaked in August as expectations for the next few months improved, despite possible political instability ahead, the Brazilian Foundation Vargas (FGV) reported. The data showed that the Consumer Confidence Index (ICC) hit a new high for the third time in a row this month, rising 4.1 points to 83.6.


2.    State Administration of Foreign Exchange: Banks' foreign exchange settlement and sales recorded a surplus of 39.7 billion RMB in June

Statistics from the State Administration of Foreign Exchange show that in June 2022, banks settled 1,566.6 billion RMB in foreign exchange and sold 1,527 billion RMB in foreign exchange, with a surplus of 39.7 billion RMB in foreign exchange settlement and sales. In the first six months, banks accumulated foreign exchange settlements of RMB 8,611.6 billion and foreign exchange sales of RMB 8,066.3 billion, with a surplus of RMB 545.4 billion.


3.    Zimbabwe's central bank says initial target achieved

The Reserve Bank of Zimbabwe said recently that the gold coin issued by the bank has achieved initial expectations in terms of ensuring exchange rate stability and strengthening the currency value of the Zimbabwe dollar, one month after its launch. More than 5,000 gold coins have been sold so far, clearing the market of around 4 billion Zimbabwean dollars in excess.


4.    Lebanon announces suspension of nationwide public electricity supply

The Lebanese State Electricity Company informed that due to the exhaustion of diesel stocks, the country's last state-owned power plant will stop generating electricity from noon on August 26, and the national public power supply in Lebanon will be suspended at that time. Previously, due to fuel shortages, the Lei Electric Power Company could only provide municipal electricity for no more than 4 hours a day.


5.  China-Russia railway container traffic increased nearly sixfold

In the seven months of this year, container traffic between the Russian Federation and China through railway checkpoints increased by 5.9 times, of which 3.8 times were due to transit to Europe. Container traffic to China increased by 5.9 times to 207,000 tons, and China-Europe transit traffic also increased (3.8 times) to 16,000 tons.

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