Data
Romania’s economy contracts by 1.7% y/y in first quarter
Fiscal consolidation measures and weaker domestic demand weighed on activity.
Indian markets snap four day losing streak
The BSE Sensex added 50 points to settle at 74,609, while the NSE Nifty 50 gained 33 points to close at 23,413, with both indices oscillating through positive and negative territory before securing modest gains into the close.
Russia trims growth outlook as economy skirts stagnation
Russia’s Ministry of Economic Development has delivered a notably downbeat assessment of the country’s economic trajectory on May 12, signalling that growth is likely to stall over the next two years.
Pekao cuts Polish GDP forecasts because of war in the Middle East
Bank Pekao cut its Polish economic growth forecasts as a prolonged conflict in the Persian Gulf weakens private consumption and exports, the bank said in a report.
Kosovo’s annual inflation rises to 7.5% in April
Annual increase mainly driven by higher prices in transport, which surged by 16.1%.
Romania’s trade deficit narrows 9.3% to €7.7bn in Q1
Decline in imports reflects weaker domestic consumption and subdued economic activity amid ongoing fiscal consolidation measures.
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ADNOC injects $55bn into UAE refining and manufacturing activities
ADNOC confirmed that it is deploying AED 200bn ($55bn) in capital investment across refining, manufacturing and marketing between 2026 and 2028.
Fuel and food prices push Moldova’s inflation up 1pp to 6.8% y/y in April
Acceleration in inflation supports central bank decision to raise its policy rate by 1.5 pp to 6.5%, in a shift toward a more hawkish monetary stance.
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Sri Lanka’s economy rebounds in 2025, but risks persist
The country’s agriculture grew by 1.4% and industry witnessed robust expansion of 7.8%, albeit slower than the year before, reflecting normalisation from the crisis-era lows.
China’s trade surplus tops $1 trillion as of November
According to data compiled by Statista, the European Union’s goods trade deficit with China reached roughly €360bn in 2025, reflecting a persistent gap between imports and exports that has steadily expanded over the past decade.
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Fitch raises 2026-27 oil and gas price assumptions on prolonged Hormuz closure
Fitch Ratings has raised its 2026-2027 oil and gas price assumptions on a longer Strait of Hormuz closure, assuming reopening around July, with Brent expected at USD100-110 per barrel through July before falling to USD70 by September.
The world's piracy hotspots – Statista
A fourth vessel has been hijacked by Somali pirates, this time off the coast of Yemen. The oil tanker MT Eureka was captured in the Gulf of Aden on May 2 and reportedly taken toward Somalia, marking the latest incident in a renewed wave of piracy.
Argentina is the IMF biggest debtor followed by Ukraine
Argentina remains by far the largest debtor to the International Monetary Fund, underscoring the depth of its long-running financial crisis and its dependence on multilateral support.
Moldova hikes policy rate amid expected inflationary pressures
National Bank of Moldova cited expected inflationary pressures linked to the increase in international prices for energy resources, food products and raw materials.
Romania’s retail sales post third consecutive quarterly decline in Q1
Annual decline in retail sales volume index reflects lingering effects of the VAT increase introduced in August 2025, weakening consumer confidence and tighter household budgets.
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Brazil services PMI rebounds to 52.3 in April as fuel costs squeeze margins
Brazil's services PMI climbed to 52.3 in April from 50.1 in March, S&P Global said, as the sector returned to growth despite cost pressures linked to higher fuel and transport prices driven by the Middle East war.
Bank of Albania holds rates steady, warns oil price shock may lift inflation
Central bank says rising oil and energy prices linked to tensions in the Middle East are expected to push inflation temporarily above target while only marginally slowing economic growth.
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Brazil manufacturing hits 14-month high in April as export surge offsets domestic slump
Brazil's manufacturing sector swung back into expansion in April, with the purchasing managers' index (PMI) climbing to a 14-month peak of 52.6 points from 49.0 in March.
Russia tops up its National Wellbeing Fund for the first time in almost a year
Russia has resumed rebuilding its National Wellbeing Fund for the first time in almost a year, as higher oil prices driven by tensions in the Middle East bolster the Kremlin’s export revenues and fiscal position.
Corruption overtakes Russia as Ukraine’s biggest threat - poll
Corruption has overtaken the war with Russia as the greatest perceived threat to Ukraine’s future, according to a new poll from Kyiv International Institute of Sociology (KIIS) released on May 6 that highlights mounting public frustration.