Tag: Economy

NEWSWATCH: Inside Putin’s Head: The Crisis in Russia and Ukraine and Worst-Case Putin Scenarios

Foreign Policy, Security, Visas, Politics, Government, Protests, Elections
Kremlin and Environs Aerial View

[“Inside’s Putin’s Head: The Crisis in Russia and Ukraine and Worst-Case Putin Scenarios” – Gordon M. Hahn – gordonhahn.com – January 31, 2015] Gordon Hahn considers the impact of the conflict in Ukraine and economic repercussions on the stability and viability of Russia’s Putin regime. The … Russian-NATO proxy war in Ukraine along with the Russian-Western economic cold war could destabilize Russia’s […]

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NEWSWATCH: Morgan Stanley thinks Russia’s doomed

Economy, Business, Investment, Trade, Sanctions
File Photo of Cash, Coins, Line Graph

[“Morgan Stanley thinks Russia’s doomed” – BusinessInsider.com – Elena Holodny – January 30, 2015] Business Insider reports on Morgan Stanley’s pessimistic Russian economic forecast: Morgan Stanley has a short message for Russia: you’re doomed. This past week hasn’t been easy for the Russian economy: … Thursday … EU foreign ministers decided to extend … sanctions on Russia by six months. Additionally, the Central Bank slashed […]

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BNE Conference Call: West needs new tactics to deal with Russia over Ukraine (Erik Berglof, Edward Lucas, Sir Andrew Wood, Ben Aris, Professor Michael Ben-Gad, Pippa Malmgren)

Sanctions, Ukraine, Russo-Ukrainian War
Map of Commonwealth of Independent States, European Portion

(Business New Europe – bne.eu – January 29, 2015) Participants at a bne IntelliNews debate in London expressed frustration with the failure of Western sanctions over Ukraine to modify Russia’s behaviour so far, and some suggested it is time to try new tactics. “We are reinforcing all the bad traits in Russia,” said Erik Berglof, director of the Institute for […]

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Russia gambles on $21 billion plan to save ailing economy

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH- January 27, 2015) The Russian authorities are to spend some $21 billion to rescue the country’s economy. The money will be used mainly to capitalize major banks, support the agricultural sector and fund construction, and will be allocated from the federal budget and the National Wealth Fund, the repository of […]

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S&P downgrades Russia to junk

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – bne IntelliNews – January 27, 2015) Standard & Poor’s downgraded Russia’s credit rating to junk status late on January 26, a move which precipitated the rouble’s fall by more than 6%. S&P lowered Russia’s credit rating to BB+, one step below investment grade, as renewed fighting in Ukraine raised the threat of tighter Western […]

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Russia now in extremely difficult economic condition, but could use this for reform – Shuvalov

Economy, Business, Investment, Trade
Igor Shuvalov file photo

(Interfax – January 23, 2015) The Russian economy is currently in extremely difficult economic condition, and Russia’s problems should not be underestimated, Russian First Deputy Prime Minister Igor Shuvalov said at Sberbank’s business breakfast at the Davos forum. “Russia is currently in an extremely difficult situation. Our economic situation isn’t good,” he said. There are different development scenarios for the […]

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Deputy Prime Minister Shuvalov Sees Hard Landing for Russia

Economy, Business, Investment, Trade
Igor Shuvalov file photo

(Bloomberg – bloomberg.com – Olga Tanas, Ott Ummelas, Anna Andrianova – January 23, 2015) Russia is in an “extremely difficult” economic situation and faces a worse crisis than in 2008-2009, according to First Deputy Prime Minister Igor Shuvalov. The country must prepare for a hard landing, Shuvalov said at a breakfast organized by the nation’s biggest lender, OAO Sberbank (SBER), […]

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Fall in oil prices could shrink Russia’s GDP by five percent

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – January 21, 2015) Russian experts say that due to a six-year low in oil prices, Russia’s economy could contract by up to five percent in 2015. Moreover, the situation drastically differs from the 2008-2009 crisis when Russia was not as dependent on oil prices or under sanctions. In the […]

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Business New Europe: Russia prepares RUB1.375 trillion anti-crisis plan

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – bne IntelliNews – January 22, 2015) Russia’s President Vladimir Putin has approved the provisional version of an anti-crisis plan drawn up by the government. According to media reports, the plan involves recapitalisation of banks, provision of state guarantees, support measures for state development bank VEB and diverse sectors, changes to state procurement laws and […]

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Russia To Face Same Old Questions at Davos In Chillier Atmosphere

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas
File Photo of "World Economic Forum" Display at Davos from Past Session

(Moscow Times – themoscowtimes.com – Alexander Panin – January 21, 2015) As the World Economic Forum kicks off in the Swiss alpine town of Davos on Wednesday, Moscow’s delegates will be working hard to convince participants that Russia is still a sound investment despite tensions over Ukraine and a faltering economy. Speaking at a curtain-raising news conference last week, Klaus […]

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A Tour Through Russia’s Five Poorest Cities

Economy, Business, Investment, Trade, Regions, Cities, Municipalities
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Delphine d’Amora – January 21, 2015) While Moscow offers some wealthy residents a level of luxury on par with other world capitals, urban life in the dozens of other cities across Russia is quite another story. A study released this week offers a peek into this other side of urban living in Russia. Published by […]

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Russia in for recession, high inflation even if oil rebounds to $80-$90 – RenCap

Economy, Business, Investment, Trade, Oil, Gas, Energy
File Photo of Cash, Coins, Line Graph

MOSCOW. Jan 21 (Interfax) – The Russian economy will not see any growth and inflation will remain high in 2015 even if oil prices rebound to $80-$90 per barrel, economists at Renaissance Capital believe. At an oil price of about $60, which is the investment bank’s baseline scenario, Russia’s GDP will contract by 4.3% in 2015 and average annual inflation […]

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Interfax: In 2008 crisis also came from abroad, Russia resolved problems by itself – Putin

Economy, Business, Investment, Trade, History, Soviet Union
File Photo of Vladimir Putin at Desk

NOVO-OGARYOVO. Jan 21 (Interfax) – The current, critical situation in the Russian economy was provoked from abroad, President Vladimir Putin believes. “I want to remind you that this is not the first situation of its kind which we are going through. We went through the same thing in 2008 and 2009. Then the crisis also came from the outside, it […]

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Ten New Laws That Will Affect Your Life in Russia in 2015

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Ukraine, Russo-Ukrainian War
Kremlin and Saint Basil's File Photo

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – January 21, 2015) New year, new you: An expression that has taken on a special meaning for those living in Russia, where a plethora of new laws – many with a direct impact on the daily lives of citizens and residents – entered into effect on Jan. 1. The Moscow Times has […]

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Double trouble – Russia 2014 vs 2008

Economy, Business, Investment, Trade, Oil, Gas, Energy, Sanctions
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – COMMENT: Peter Szopo of Erste Asset Management – January 20, 2015) [Charts here http://www.bne.eu/content/story/comment-double-trouble-russia-2014-vs-2008] History, they say, does not repeat itself – it rhymes. Even if this were true, history’s rhymes are clunky at best. While Russia’s current crisis has obvious parallels with the turmoil in 2008, such as the drop in oil prices, […]

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Russia Beyond the Headlines: Is a banking crisis looming in Russia?

Economy, Business, Investment, Trade
Russian Central Bank file photo

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – January 20, 2015) The Russian government will supply banks with nearly $15 billion to help stave off a possible financial crisis. Only banks that are willing to increase credit in the production sector of the economy will be eligible to receive the money. In such a way the government […]

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Business New Europe: Pain but no disaster in store for Russia, says Rencap

Economy, Business, Investment, Trade, Oil, Gas, Energy
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – bne IntelliNews – January 20, 2015) If the average price of oil in 2015 is $60 then Russia’s economy will contract by 4.3% and the ruble will be RUB56.4 to the dollar, say analysts at Renaissance Capital in a note released on January 20 exploring different oil price scenarios. Oil prices have fallen from […]

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Interfax: Russians begin to feel economic crisis – poll

Economy, Business, Investment, Trade, Sanctions
File Photo of Cash, Coins, Line Graph

(Interfax – January 19, 2015) Almost two-thirds of Russian citizens (62 percent) think that the country is living through an economic crisis although it has no effect on their finances as of yet, the Public Opinion Foundation said. The crisis mostly manifests itself in Moscow (70 percent) and cities with a population of 50,000 to 250,000 (71 percent), said 1,500 […]

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Business New Europe: Russia’s tech sector defies downturn

Economy, Business, Investment, Trade, Media, Internet, Social Media, Television, Science, Technology, Engineering
File Image of Stylized Eye Surrounded by Binary Code

(Business New Europe – bne.eu – Ben Aris in Moscow – January 16, 2015) Most of Russia’s economy will be in the proverbial dustbin in 2015, except for the technology sector. The gadget-loving Russians have been driving the explosion of e-commerce in recent years, which is now starting to spill over into technological innovation and software development. Instead of the […]

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Moscow Times: Russian Oil Firms Can Weather $50 Oil

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

(Moscow Times – themoscowtimes.com – Alexander Panin – January 16, 2015) If oil stays at its current price through this year, Russia’s gross domestic product will likely shrink more than 6.5 percent, but Russian oil companies will continue to make a profit at even lower prices, analysts at the Gaidar Economic Forum said Thursday. Oil prices climbed to $48.62 per […]

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Business New Europe: Russia’s output will slump sharply in 2015, but what about Ukraine?

Economy, Business, Investment, Trade, Ukraine, Russo-Ukrainian War
File Photo of Cash, Coins, Line Graph

(Business New Europe MOSCOW BLOG – bne.eu – Ben Aris – January 16, 2015) “Russia’s GDP is likely to plunge in 2015. Indeed, it would be prudent to expect a slump on the order of 10%. In many ways, Russia’s financial situation is eerily similar to the fall of 2008, when then-Prime Minister Vladimir Putin called his country a safe haven […]

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Analysts Predict a Russian Descent Into Madness

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and Saint Basil's File Photo

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – January 19, 2015) President Vladimir Putin cannot afford at this point to reform the political system he has built up, as doing so would undermine his grip on power, a panel of political analysts said at the Gaidar Forum on Friday. They went on to warn that without fundamental change, Russia risks an […]

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What a ‘Junk’ Rating Would Mean for Russia

Economy, Business, Investment, Trade, Sanctions
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Howard Amos – January 15, 2015) Russian officials and experts warned Wednesday that an expected decision by Standard and Poor’s to deprive Russia of its investment-grade credit rating could cost the country up to $30 billion and drain more money from an economy that is already entering recession. Major credit rating agencies Fitch and Standard […]

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Russian Prime Minister Scorns Fears, But Fails to Present Strategy at Economic Forum

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – January 15, 2015) While Prime Minister Dmitry Medvedev radiated confidence Wednesday that Russia would be able to use the unfolding crisis as an impetus to make necessary changes to its economy, members of his government indicated that they do not have a concrete plan for bringing about reform. “The energy- and resource-dependent […]

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‘Top 15 Russian Fears for ’15’ — a ‘Versiya’ Checklist

Chechnya, Dagestan, North Caucasus, Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Life in Russia, Culture, Arts, Politics, Government, Protests, Elections, Terrorism
Kremlin and Saint Basil's File Photo

(Window on Eurasia – Paul Goble – Staunton, January 14, 2015) Russians face so many problems and have so many fears that it is often a daunting task to ensure that one is keeping track of all of them. As a guide for the perplexed, Kseniya Veretennikova provides a checklist of the “top 15 fears” Russians have about the year […]

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Interfax: World Bank expects Russian GDP to fall 2.9 percent in 2015, edge up in 2016

Economy, Business, Investment, Trade
World Bank Building

(Interfax – January 14, 2015) The World Bank expects Russian GDP to contract by 2.9 percent in 2015, but edge up by 0.1 percent in 2016, the bank said in its January Global Economic Prospects report. The World Bank estimates that the Russian economy grew by 0.7 percent in 2014. The bank is forecasting that Russian economic growth will accelerate […]

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Russia 2014 Gas Exports Seen Lowest in Decade as Nations Cut Use

Oil, Gas, Energy
Gas Flame file photo

(Bloomberg – bloomberg.com – Elena Mazneva – January 13, 2015) Russia, the world’s biggest natural-gas exporter, probably cut 2014 fuel exports to the lowest in a decade as consumption in Europe and Ukraine declined. OAO Gazprom (GAZP), the state-run gas-pipeline export monopoly, supplied no more than 195 billion cubic meters of fuel from Russia to the European Union, Turkey and […]

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Working in the Gulag: Russia’s Prison Service, the FSIN, wants to put inmates’ employment on a more businesslike footing, but their working conditions are still more like slave labour

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights
Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

(opendemocracy.net – VYACHESLAV KOZLOV – January 9, 2015) Vyacheslav Kozlov is a journalist for daily newspaper Kommersant. He writes on international relations, nationalism, extremism, narco-politics, the Russian opposition and the problems facing Russia’s NGOs. He has at various times worked for Vremya Novostei, Moskovskiye Novosti and the online publication Gazeta.ru. His work has also appeared in Novaya Gazeta and Lenta.ru. […]

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Rating Downgrade Set to Scare More Capital Out of Russia

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Peter Hobson, Alexander Panin – January 12, 2015) Rating agency Fitch on Friday downgraded Russia’s credit rating to one notch above junk status, warning that oil price falls and Western sanctions could contract the country’s economy by 4 percent this year and force the government to pour cash into Russia’s buckling banking system. Coming on […]

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Meet the EEU family (Eurasian Economic Union)

Belarus, CIS, Customs Union, Eurasian Union, Economy, Business, Investment, Trade
Map of Commonwealth of Independent States, European Portion

(Business New Europe – bne.eu – bne IntelliNews – January 5, 2015) Members: Belarus, Kazakhstan, Russia Prospective member: Armenia Potential members: Kyrgyzstan (likely), Tajikistan (unlikely) Population: 173mn (Russia, including Crimea, 146mn; Kazakhstan, 17mn; Belarus, 10mn) Total GDP: $2.7tn Share of world gas reserves: 20% Share of world oil reserves: 15% On January 1, the Eurasian Economic Union Treaty governing what […]

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Interfax: Russia’s grain harvest tops 105 million tons in 2014

Agriculture
Field of Grain file photo

(Interfax – January 8, 2014) Agriculture Minister Nikolai Fyodorov has reported a record grain harvest of 105.3 million tonnes collected in Russia in 2014. “According to updated reports, Russian agrarians produced 105.3 million tonnes [of grain] in what people call granary weight,” he said at a meeting with Prime Minister Dmitry Medvedev. The premier said the previous year “was rather […]

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NEWSWATCH: In Ukraine’s Donetsk, the ‘death clutch’ of a forgotten war: Both Russian and Ukrainian economies in tatters, half a million people displaced

Human Rights, Ukraine, Russo-Ukrainian War
Ukraine Map and Flag

[“In Ukraine’s Donetsk, the ‘death clutch’ of a forgotten war: Both Russian and Ukrainian economies in tatters, half a million people displaced” – CBC.ca – Don Murray – January 5, 2015] The CBC and free-lance reporter Don Murray examine the conflict in Ukraine, some of its underlying issues and its human costs: * * * Tens of thousands more Ukrainians are still trapped in […]

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Any Russian Protests Ahead Likely to Be About Economic Issues Rather than Political Ones, Experts Say

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Moscow Protest file photo

(Window on Eurasia – Paul Goble – Staunton, January 5, 2014) Three Russian experts with whom Russkaya planeta spoke say that while declines in the standard of living of many Russians in the coming year as a result of the economic crisis may lead to some protests about economic issues, any such demonstrations are unlikely to focus on high politics.the […]

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Putin goes

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Vladimir Putin at Valdai Club 2013 Meeting, Adapted from Screenshot of Valdai Club Video at youtube.com

(opendemocracy.net – Aleksandr Morozov – December 22, 2014) Russian journalist , political analyst . Since August of 2011 – editor in chief of ” Russian Journal” , the director of the Center for Media Research UNIK Until ‘Black Tuesday’ on 16 December 2014, fifteen years after he first took power, there were no grounds for any consideration of whether Putin […]

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Putin stays

Politics, Government, Protests, Elections
File Photo of Vladimir Putin at Desk

(opendemocracy.net – Chris Weafer – December 22, 2014) Chris Weafer is the co-founder of Macro Advisory, and former Chief Strategist at Sberbank CIB. He served for four years as Chief Strategist with Uralsib Financial Corporation and for five years with Alfa Bank. The Kremlin has adopted a deliberate strategy – to let the rouble continue falling as the “lesser of […]

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The rouble crisis in Siberia

Economy, Business, Investment, Trade, Far East, Siberia, APEC, Regions, Cities, Municipalities
Cash, Calculator, Pen

(opendemocracy.net – Anna Fofanova – December 17, 2014) Anna Fofanova is a Tomsk-based editor and journalist. As the rouble collapses, residents of Tomsk have long memories – from Black Tuesday 1994 to Black Tuesday 2014. Tomsk is a provincial city in the best sense of the word. Indeed, as the largest centre for education and science on the other side […]

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Russians in Biggest Cities Feel the Most Pain from Crisis, Gudkov Says

Economy, Business, Investment, Trade
Aerial View of Moscow From Beyond Stadium, file photo

(Window on Eurasia – Paul Goble – Staunton, December 22, 2014) Russians living in the largest cities, the people who benefited the most from the oil-driven boom of the last decade, now feel the greatest concern about the impact on their lives of the economic crisis because they are better informed than those in smaller ones and rural areas, a […]

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Does anybody in Russia care about the ruble?

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Russia Beyond the Headlines – rbth.ru – Georgy Bovt, special to RBTH – December 19, 2014) After becoming two times poorer in real terms since the beginning of the year due to the collapse of the ruble, Russians could well have taken to the streets to protest against the government’s economic policies. Why hasn’t that happened? And why is mass […]

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The oil price is all that matters regarding Russia

Economy, Business, Investment, Trade, Oil, Gas, Energy
Oil Well file photo

(Business New Europe – bne.eu – Chris Weafer – December 19, 2014) Chris Weafer is Senior Partner at Macro-Advisory, which offers bespoke Russia-CIS consulting. The key takeaway concerning the economy and the ruble from President Valdimir Putin’s press conference on December 18 is that the Kremlin does not have any strategy or plan to try and pull out of this […]

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How does the 2014 ruble crisis compare with the 1998 vintage?

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – Ben Aris in Moscow – December 17, 2014) The ruble’s crash on December 15 from RUB53 to nearly RUB80 vs the dollar has caused many commentators to compare this crisis to Russia’s financial collapse in 1998. Is Russia really going into a full-scale meltdown for the fourth time in two decades? Crashing oil prices […]

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Russia doomed to recession (excerpt)

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – Ben Aris in Moscow – December 19, 2014) [Full text and charts here http://www.bne.eu/content/story/russia-doomed-recession] 1.0 Economics 1.1 Economics overview The mood amongst Russia watchers is as black as it has always been in the midst of one of Russia’s major crises. The forecasts for 2015 are almost – but not unanimously – bleak. The crash of […]

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Russian Media Downplay Extent of Ruble Crisis

Economy, Business, Investment, Trade, Media, Internet, Social Media, Television
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Howard Amos, Ivan Nechepurenko – December 17, 2014) While the ruble pinballed erratically between 58 and 80 per U.S. dollar on Tuesday, making headlines around the world, Russia’s state-run media have attempted to take a soft and conciliatory stance on the home currency’s woes. A news bullet by state-owned Channel One aired at 6 p.m. […]

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What awaits Russia’s economy in 2015 after ruble collapse?

Economy, Business, Investment, Trade
Oil Well file photo

(Russia Beyond the Headlines – rbth.ru – Konstantin Korishchenko, special to RBTH – December 17, 2014) Konstantin Korishchenko is head of the stock market and financial engineering department at the Finance and Banking Faculty of the Russian Presidential Academy of National Economy and Public Administration, and a former deputy chairman of the Russian Central Bank. As the Russian ruble plunges […]

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Medvedev says ruble ‘undervalued’ as slide slows

Economy, Business, Investment, Trade
File Photo of Dmitry Medvedev with United Russia Logos Behind Him

(Business New Europe – bne.eu – bne IntelliNews – December 17, 2014) Russian Prime Minister Dmitry Medvedev called the ruble undervalued at a meeting on December 17 with the top officials of the government, the central bank and heads of Russia’s largest exporters. He said that regulation of the currency market would remain based on market principles, but the presence […]

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Picking through the ruble

Economy, Business, Investment, Trade
Russian Central Bank file photo

(Business New Europe – bne.eu – MOSCOW BLOG: Ben Aris in Moscow – December 16, 2014) The Russian ruble crashed again on December 15, in the biggest fall since the last big crisis in 1998. The Central Bank of Russia (CBR) belatedly stepped in with a huge interest rate hike overnight, but it has been roundly criticised for being “behind […]

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Fears of Capital Controls Grow as Russia’s Economy Goes Haywire

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Howard Amos – December 17, 2014) The possible implementation of capital controls in Russia came a step closer Tuesday as the authorities appeared to be running out of options to stem the country’s dramatic currency collapse. The ruble defied an emergency interest rate rise of 6.5 percentage points announced overnight, falling 20 percent to above […]

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Business New Europe: What price European values when economic collapse is imminent?

Europe, EU, Ukraine, Russo-Ukrainian War
EU Map

(Business New Europe – bne.eu – KYIV BLOG: Ben Aris in Moscow – December 15, 2014) Ukraine needs about $15bn now or it will collapse, possibly in the next few weeks. Ukraine’s prime minister, Arseniy Yatseniuk, called on Western donors to come up with a $15bn rescue package to stave off collapse on December 11 and was met by a […]

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Yavlinsky calls for returning Kudrin to government

Politics, Government, Protests, Elections
Alexei Kudrin file photo

(Interfax – December 13, 2014) Grigory Yavlinsky, a founder of the Yabloko party, calls for replacing the Russian government and appointing former Finance Minister Alexei Kudrin a new prime minister or first deputy prime minister with a special mandate. “We believe the government needs to be changed – whether it’s going to be the entire government or its economic block […]

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Business New Europe: “Better late than never?”

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – MOSCOW BLOG: Ben Aris in Moscow – December 12, 2014) There is an obvious solution to help deal with Russia’s economic slowdown that is being exacerbated by the tumbling oil prices: do those reforms that should have been done ten years ago. It’s kind of obvious. But also just as obvious is that a […]

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Business New Europe: Flippant claim that ‘Russia is Spain’ is wide of the mark

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Business New Europe – Henry Kirby in London – December 11, 2014) After months of downward pressure, the ruble went into near free-fall during the first week of December. From 36 to the dollar in early August, the Russian currency fell rapidly from 47 to 53 to the greenback in just a few days, amid rumours (later discredited) that the […]

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