Russia and China are increasingly contemplating using their own currencies in mutual settlements and finding ways to work together to counter sanctions. If penalties are imposed on one of our banks, it is quite difficult for Chinese recipients of our products to pay us, although they have the money and the desire to do so.”. https://www.rt.com/russia/548070-china-moscow-plan-currency/

Federal Reserve Bank of Boston released research in collaboration with the Massachusetts Institute of Technology, on the technological viability of a Fed-backed digital dollar, also known as a central bank digital currency. The results are promising for the viability of a digital dollar, as the research produced two separate architectures for a potential U.S. CBDC. https://www.msn.com/en-us/money/other/move-toward-digital-dollar-gains-steam-as-boston-fed-says-its-prototype-can-handle-17-million-transactions-per-second/ar-AATrz1D

Turkey’s annual inflation came in at nearly 49% on Thursday, hitting a nearly 20-year high and further eroding people’s ability to buy even basic things like food.
The Turkish Statistical Institute said the consumer price index increased by just over 11% in January from the previous month. The yearly increase in food prices was more than 55%. https://www.independent.co.uk/news/world/americas/us-politics/turkey-inflation-recep-tayyip-erdogan-ankara-b2006739.html

Following news of major cyberattacks on German-based oil storage companies, there are now reports of similar attacks in the Netherlands and Belgium. https://oilprice.com/Energy/Energy-General/Who-Is-Responsible-For-Cyberattacks-On-Europes-Oil-Industry.html

The United Nations Food Price Index reached an all-time high in January, and the highest level in "real" terms since the early 1970s. Smaller-than-expected soybean harvest in Brazil. Natural gas prices in Europe sit at near record highs, driving fertilizer prices globally to nearly 3x pre-pandemic levels. Russia recently banned export of ammonium nitrates fertilizer; China is banning phosphates fertilizer export. https://seekingalpha.com/news/3796166-un-food-price-index-hits-all-time-high-governments-take-action-to-control-damage

Swissport, the world's largest airport ground services and cargo handling company, has been targeted by ransomware hackers. Some flights have been delayed at Zurich airport and passengers are being warned of further potential disruption.
Swissport's website was forced offline by the cyberattack and the company said some services had been affected for both passengers and freight. https://menafn.com/1103644158/Swiss-based-airport-services-firm-suffers-ransomware-attack

The rush by physical traders and financial players has boosted benchmark Chicago futures by 31 percent since early November last year to an eight-month high, with the premium for July versus November contracts surging eightfold. Demand for immediate delivery has pushed cash prices at elevators in places such as Iowa and Illinois to unusually high premiums over futures. https://taipeitimes.com/News/biz/archives/2022/02/06/2003772622

Blockchain infrastructure company Meter said $4.4 million was stolen during a cyberattack on the platform. The Meter network as well as the Moonriver network were affected by the hack. Blockchain research company PeckShield confirmed that 1391 ETH and 2.74 BTC were stolen during the incident. https://www.zdnet.com/article/4-4-million-stolen-in-attack-on-blockchain-infrastructure-meter/

The occupancy rate in Europe's natural gas storage facilities fell to 37.5% in January 2021 from 52% in January 2022. The colder-than-expected winter season and the increase in energy demand have led to more use of natural gas in storage. The decrease in the amount of natural gas sent by Russia to Europe via Ukraine and the decrease in production from hydroelectric power plants were also influential in decreasing gas in the storages. https://www.aa.com.tr/en/economy/europes-gas-storage-levels-fall-to-375-in-january-2022/2495399

Stock of Tyson Foods, the world's second largest processor and marketer of chicken, beef, and pork after Brazil's JBS S.A., is soaring 9%, hitting an all time high and is one of the S&P's best companies. And speaking of food inflation, brace for more, much more: recent data showed the American cattle herd shrank more than expected, signaling consumers faced more sticker shock. https://www.zerohedge.com/commodities/tyson-foods-soars-record-after-hiking-beef-chicken-and-pork-prices-double-digits

Greece - Retail electricity prices in December 2021 rose by 45% y-o-y. the country in the grip of an unprecedented avalanche of high energy prices, which soon translated into indiscriminate increases in food and goods prices, which gave rise to strong inflationary pressures. Industrial producer prices soared to a 21-year high last month, pointing to further retail price hikes in the weeks and months to come. https://www.financialmirror.com/2022/02/06/greece-faces-energy-crisis-as-prices-spiral/

Edible oil prices could face further turmoil after Indonesia imposed curbs on its world-leading palm oil exports and as concerns grew that war in eastern Europe could dent Ukraine’s huge sunflower oil output. Together Indonesia and Malaysia account for over 80% of global palm oil exports. Russia and The Ukraine make up “more than 75% of all sunflower oil exports. https://www.thegrocer.co.uk/commodities/vegetable-oil-prices-surging-amid-tightening-supply-and-tensions-in-ukraine/664214.article

Iowa and U.S. farmers can expect income from crops and livestock production to tumble, with costs spiking. The agency expects U.S. farm income to fall to $113.7 billion, down $9.7 billion, or 7.9%, from 2021. costs to raise crops and livestock will grow 5.1% to $411.6 billion over the 2021 figure, with the price of fertilizer climbing 12% and for livestock feed, 6.1%. https://www.desmoinesregister.com/story/money/agriculture/2022/02/06/2022-farm-income-expected-fall-production-fertilizer-feed-costs-rise/6665786001/

Argentina has raised domestic prices for both sugarcane and corn-based bioethanol, which are mandatory to mix with gasoline in the country. Amid high domestic inflation of 50.9% in 2021, biofuel prices are periodically updated to remain competitive in Argentina, which is one of the world’s largest biodiesel producers. https://nationalpost.com/pmn/news-pmn/argentina-raises-domestic-biofuel-prices

India- Unlike physical cash, which is hard to trace, a digital currency that is monitored by the RBI can be more easily tracked and controlled by the Central Bank. Some even believe that some Central banks, such as the European Central Bank, may impose a negative penalty on their digital currencies. This could be done to force people to spend their digital currencies and to discourage the withdrawal of deposits from banks that impose negative interest rates. https://www.thehindu.com/business/Economy/rbis-digital-currency-plans/article38395561.ece

Stockpiles of high-end arabica beans, totaled 1.078 million bags or about 143 million pounds. That’s the lowest level for inventories monitored by the New York exchange since February 2000. Coffee reserves certified by ICE have been falling since September due to soaring shipping costs and unfavorable weather that clipped production in Brazil, the world’s largest grower and exporter.
http://www.ecoti.in/B83Avb

Portugal - Vodafone was the target of a "deliberate and malicious cyberattack" with the aim of causing damage and disruption. The attack is affecting the provision of services based on data networks, namely 4G/5G network, fixed voice services, television, SMS and voice/digital answering services. https://www.theportugalnews.com/news/2022-02-08/cyberattack-brings-down-vodafone/65121

World Wildlife Fund (WWF) affiliated with the World Economic Forum, and was a key-speaker at Davos 2020 publishes report to UK farmers. Even greater cuts may be needed to the UK’s pig herds and poultry flocks, because of the imported feed they eat, and people will need to eat much less meat than they do today. British farmers must reduce their production of meat and dairy by a third in the next 10 years if scientific advice on limiting greenhouse gas emissions is to be met. https://www.theguardian.com/environment/2022/feb/08/cut-meat-and-dairy-by-a-third-to-save-climate-british-farmers-told

The Reserve Bank of New Zealand is commencing proof-of-concept design work on developing a central bank digital currency (CBDC). It all started when there was a decline in the cash usage in New Zealand. In 2020, 71% of Kiwis used it as one way of paying. In 2019, it was 96%. https://finance.yahoo.com/news/zealand-soon-begin-proof-concept-062035857.html

Belarus, in response to the blocking of the transit of potash fertiliser through the Baltic port of Klaipėda, lowered the barrier against trains with Lithuanian petroleum products and fertilizers, especially those going to Ukraine. For several days now, economists and policymakers in the Lithuanian capital of Vilnius have been counting possible economic losses due to their transit war with Belarus. https://southfront.org/lithuania-goes-from-bad-to-worse-as-belarus-closes-vital-economic-railway-artery/

The Slovenian media house Pro Plus, which operates the country’s two leading TV commercial channels, has fallen victim to a cyberattack. Viewers resort to online for watching channels. They are focusing all efforts on resolving the situation. https://www.broadbandtvnews.com/2022/02/08/slovenias-pro-plus-hit-by-cyberattack/