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CIFA and CIPA upbeat over prospects of Investment Funds sector, despite geopolitical tensions

Foodservice packaging sector is recovering from the pandemic, although it’s yet to reach its peak; stakeholders note inflationary pressures, reduced footfall from high street, war in Ukraine and resulting energy, cost-of-living crisis

Goldman Sachs forecasts 1% drop in eurozone GDP until Q2 2023, with risks leaning toward longer and more severe recession on suspension of gas flows from Nord Stream 1 pipeline; analysis also sees 10% drop in EPS for European companies by 2023

Medicines for Europe warns European generic drug industry under threat from soaring energy costs, inflation and Ukraine war and ask EU to intervene; raw material costs up from 50% to 160%, with inflation rising to over 9%

Russia's war on Ukraine to cost the world US$2.8T due to lower economic output by end of 2023; world economy growth forecast revised down to 3% in 2022 and 2.2% in 2023, down from 4.5% and 3.2%, respectively: OECD

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