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Business Arena 2.11

On Thursday’s episode, Business Arena’s host David Kennedy kicked off the show with the main stories of this instalment, which were: business activity contracts at a sharper pace in October and the regime is driving Belarusian economy into the ground.

The flash Eurozone Composite Purchasing Managers’ Index (PMI) fell to 47.1 in October from 48.1 in September, marking the worst reading in almost two years. Therefore, the index moved further below the 50 no-change threshold, signalling a sharper contraction in business conditions compared to the prior month.

TVP World invited Piotr Matys, Senior FX Analyst at In Touch Capital Markets, to shed more light on the issue.

Among other topics discussed in the episode were:

– On October 6, Belarusian President Alyaksandr Lukashenka claimed that the pace of price growth in the country is too high and decided to ban inflation altogether. Less than a month later Lukashenka’s trade minister admitted the strike of private businessmen. Last week, in at least 13 cities all across Belarus, local shops were closed. Entrepreneurs protested against the dictator’s absurd price regulation.

– The Presidents of Colombia and Venezuela held their first meeting in three years in the Venezuelan capital of Caracas on Tuesday.

– Chinese officials have imposed a seven-day lockdown in the Zhengzhou Airport Economic Zone, which is home to a major Apple iPhone manufacturing plant owned by Foxconn.

– A US federal court has stopped the merger of publishing giant Simon & Schuster and Penguin Random House, owned by German media company Bertelsmann, saying that it violates competition laws.

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