Tag: Economy

RUSSIALINK: “Russia Going Nowhere in Global Competitiveness Rankings” – Moscow Times

Economy, Business, Investment, Trade
Diverse Paper Currency, Coins, Line Graph

Russia stays mid-table in rankings of the world’s most competitive economies, while Singapore leapfrogs United States into top spot (Moscow Times – themoscowtimes.com – October 9, 2019) Russia has failed to climb up the global competitiveness rankings, the World Economic Forum (WEF) said today, remaining in 43rd place in its influential Global Competitiveness Index. Researchers said Russia scored highly on […]

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JRL NEWSWATCH: “How Russia Stands To Change With The Climate” – Forbes/ James Rodgers

Arctic, Environment
Map of Arctic Highlighting Permafrost, adapted from image at nasa.gov

“… In a climate where winter temperatures in Arctic regions can fall below -50 degrees C (-58 degrees F), warmer weather might offer some relief. A research paper … even predicted … ‘Global warming will likely to bring more positive rather than negative effects for Russia’s food security and agriculture ….’ The same paper warned … ‘A major negative impact […]

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RUSSIALINK: “World Bank Cuts Russian Growth Forecast” – Moscow Times

Economy, Business, Investment, Trade
World Bank Building

Economy expected to expand by just 1% in 2019 amid weak investment, low consumer confidence and international sanctions (Moscow Times – themoscowtimes.com – Oct. 9, 2019) The World Bank has become the latest organization to cut its outlook for the Russian economy, predicting growth of just 1% in 2019. A host of domestic and international factors are holding back the […]

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JRL NEWSWATCH: “Putin wants new connection between Arctic coast and Indian Ocean; The construction of a railway line to Sabetta is what is needed, the president argues” – The Barents Observer/ Atle Staalesen

Arctic, Central Asia, Economy, Business, Investment, Trade, Far East, Siberia, APEC, Transportation
Asia Map

“… ‘The idea is to connect the ports on the Northern Sea Route with the ports of the Pacific and Indian Oceans by means of transport arterials through Eastern Siberia, the heartlands of Eurasia,’ … [Putin said to Valdai] conference participants. … [such as] Azerbaijani President Ilham Aliyev, King of Jordan Abdullah II, Kazakh President Kassym-Jomart Tokayev and Filipinian leader […]

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Russian Middle Class Now ‘More Dead than Alive,’ New Research Shows

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

(Window on Eurasia – Paul Goble – Staunton, October 5, 2019) “The middle class in Russia is more dead than alive,” Fustem Falyakhov reports in Gazeta on the basis of new research carried out by Alina Pishnyak of the Center for the Analysis of Incomes and Standard of Living of the Higher School of Economics (gazeta.ru/business/2019/10/04/12737647.shtml). Her research shows that […]

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RUSSIALINK: “Russia Displays a Two-Track Economy; The Russian economy is both growing and declining, depending on whether you look at domestic or global statistics” – Moscow Times

Economy, Business, Investment, Trade
Kremlin and River

(Moscow Times – themoscowtimes.com – Jake Cordell – October 3, 2019) Jake Cordell covers business & economics for The Moscow Times Fresh economic data released this week told a tale of two Russian economies – resilient yet fragile, growing and contracting, confident while insecure. On the home front, the country’s economy appears to be trundling along with modest success. But […]

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RUSSIALINK: “Russian consumer confidence continues to improve in Q3 – Rosstat” – Interfax

Economy, Business, Investment, Trade
Diverse Paper Currency, Coins, Line Graph

MOSCOW. Oct 4 (Interfax) – Russian consumer confidence improved for the third straight quarter in Q3 2019, the Federal State Statistics Service (Rosstat) said. The Consumer Confidence Index (CCI) rose 2 percentage points to negative (-) 13% in Q3 2019 from -15% in Q2 and -16% in Q1. The CCI fell from -8% in Q2 1018 to -14% in Q3 […]

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RUSSIALINK: “Russia’s ‘Core’ Middle Class Shrinks to 10M – HSE” – Moscow Times

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

(Moscow Times – themoscowtimes.com – Oct. 4, 2019) Only 10.3 million people in Russia can be fully considered as members of the middle class, according to Moscow’s Higher School of Economics (HSE). Real wages have been declining for five years in a row, fueled by Western sanctions and low oil prices. State-run media analysis of official data placed Russia’s middle-class […]

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Staff At Russia’s Main Cancer Center Quit En Masse, Citing Low Wages And Dire Conditions

Economy, Business, Investment, Trade, Health, Epidemics, Substance Abuse
Medical Symbol with Pole, Serpents, Wings, adapted from image at lanl.gov

(Article text ©2019 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Matthew Luxmoore – MOSCOW, Oct. 1, 2019 – article text also appeared at rferl.org/a/staff-at-russia-s-main-cancer-center-quit-en-masse-citing-low-wages-and-dire-conditions/30193826.html) Russia’s main cancer treatment center has been rocked by a wave of resignations amid complaints about low wages and deteriorating conditions at its wards, in the latest indication of what medical professionals say is […]

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Russian Fertility Rate will Continue to Fall Even if Economy Improves, Data Show

Economy, Business, Investment, Trade, Health, Epidemics, Substance Abuse, Population Disaster, Demographics
Couple in Hospital with Newborn

(Paul Goble – Window on Eurasia – Staunton, September 30, 2019) Fertility rates in Russia have again fallen to the levels they were in during the 1990s, Rosstat data show, and the government assumes that when the deceive economy improves, they will go right back up. But a more careful examination of the data suggests that underlying shifts in values […]

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JRL NEWSWATCH: “Moscow Has Limited Options in Belarus” – Chatham House/ John Lough

Belarus, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Map of Belarus and Environs, adapted from images at cia.gov

Leaked details of the latest negotiations between Moscow and Minsk on fleshing out their 20-year old Union State project suggest that Russia wants to place Belarus in a closer embrace without incorporating it into the Russian Federation “… [There has been speculation in Moscow that] the Union State … [would provide] a platform for … Putin to stay in office […]

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Russians Less Concerned about Economic Problems and More about Political Ones, Levada Center Poll Shows

Politics, Government, Protests, Elections
Aerial View of Kremlin and Environs

(Paul Goble – Window on Eurasia – Staunton, September 25. 2019) In a development that may reflect coverage of the Moscow protests but that could point to a broader sea change in Russian attitudes in a direction that challenges the authorities, a new Levada Center poll conducted in August finds that Russians are less concerned about economic issues than they […]

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RUSSIALINK: “Russia’s Biggest Companies Account for More Than 80% of GDP; The RBC 500 shows concentration increased at the top in 2018” – Moscow Times

Economy, Business, Investment, Trade
Men Sitting Around Long Oval Boardroom Table, File Photo of FIFA Officials Meeting with Vladmir Putin

(Moscow Times – themoscowtimes.com – September 26, 2019) Russia’ biggest companies increased their domination of the country’s economy last year, according to RBC’s fifth annual ratings list, the RBC 500. The combined revenues of the 500 companies on the list rose in 2018 to 85.5 trillion rubles ($1.3 trillion), up 18.2% compared with the previous year. In GDP terms, the […]

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RUSSIALINK: “Economic growth not an end in itself, vital to boost incomes – Putin” – Interfax

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Hands Opening Envelope Containing Cash

MOSCOW. Sept 25 (Interfax) – Public- and social-sector wages, to which the May presidential decree does not apply, will be indexed by 4.3% on October 1, Russian President Vladimir Putin said at a meeting with Cabinet ministers. The main topic of the meeting was additional measures to speed up economic growth and raising household incomes. “Economic growth itself is not […]

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RUSSIALINK: “Guns, Butter, and Russia’s Enduring Power” – Kennan Institute/ Maxim Trudolyubov

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Cash, Calculator, Pen

(Kennan Institute – wilsoncenter.org/program/kennan-institute – Maxim Trudolyubov – September 20, 2019) Maxim Trudolyubov is a Senior Fellow at the Kennan Institute and the Editor-at-Large of Vedomosti, an independent Russian daily. Mr. Trudolyubov was the editorial page editor of Vedomosti between 2003 and 2015. In response to sanctions and attempts to isolate Russia, the Kremlin has built up a budget with […]

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RUSSIALINK: “Why Is Russia So Unproductive? Analysts say a toxic cocktail of state capitalism, corruption and low investment curbs output” – Moscow Times

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Jake Cordell – September 23, 2019) During his annual phone-in with the public in June this year, President Vladimir Putin described low productivity as “one of the most acute and important” problems facing Russia. Economists agree. Russia is one of the least productive moderately rich countries in the world, ranking 39th out of the 42 […]

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RUSSIALINK: “Russia geared towards borrowing abroad in currencies other than USD in years to come – MinFin” – Interfax

Politics, Government, Protests, Elections
Diverse Paper Currency, Coins, Line Graph

MOSCOW. Sept 19 (Interfax) – The Russian Finance Ministry will be geared towards borrowing abroad in currencies other than the U.S. dollar in the next few years, a ministry official told reporters. “There are questions as to what will happen with borrowing abroad. Naturally we will at first be geared towards reserve currencies outside the dollar zone. There is the […]

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JRL NEWSWATCH: “Russia Will Likely Collapse from the Inside” – Begin-Sadat Center for Strategic Studies (Israel)/ Emil Avdaliani (Tbilisi State University, Ilia State University)

Politics, Government, Protests, Elections
File Photo of Revolutionaries Marching in Moscow in 1917, adapted from image at state.gov

“Russia is historically prone to internal collapse … shown by numerous examples from both the imperial and Soviet periods. … usually tak[ing] place as Russia rests on the laurels of recent military victories while internal economic and social troubles grow. … the best way to deal with Russia is to keep intervention to a minimum and wait for its internal […]

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RUSSIALINK TRANSCRIPT: “Dialogue with Dmitry Medvedev; The Prime Minister discussed the Government’s plans to achieve national development goals with businesspeople and analysts on Rossiya 24’s Dialogue programme” – Government.ru

Economy, Business, Investment, Trade, Media, Internet, Social Media, Television, Politics, Government, Protests, Elections, Science, Technology, Engineering
Dmitri Medvedev file photo

(Government.ru – Sept. 11, 2019 – government.ru/en/news/37840/) Excerpts from the transcript: Foreign investment Dmitry Medvedev: We live in a complicated world, and the circumstances our country has found itself in are fairly complicated as well, including sanctions and trade wars. Nevertheless, investors want to invest. Speaking of foreign investors, the RDIF and other investment-related institution activity are quite telling in […]

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RUSSIALINK: “Automation May Push 20 Million Russians Into Unemployment, Study Says” – Moscow Times

Economy, Business, Investment, Trade, Science, Technology, Engineering
File Photo of Factory Robot, adapted form image at NIST.gov

(Moscow Times – themoscowtimes.com – Sept. 10, 2019) More than 20 million Russians risk losing their jobs to automation over the next decade if they don’t develop new skills, according to new research. Economists estimate that robots will take over more than 20 million manufacturing jobs worldwide by 2030. Automation is expected to lead to major job losses despite bringing […]

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Russia Considers Possibility Of $25 Oil Next Year

Economy, Business, Investment, Trade, Oil, Gas, Energy
Offshore Oil Rig file photo

(Oilprice.com – Julianne Geiger – Sept. 9, 2019) Russia is considering the notion that oil prices may be as low as $25 per barrel in 2020, the country’s central bank said in its new forecast published on Monday, as cited by Reuters. Russia’s Central Bank has forecast in its macroeconomic forecast that oil could possibly hit that low due to […]

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JRL NEWSWATCH: “Russia’s $150 Billion Bet on Arctic Warming; France’s Macron slams the northern shipping route as an ecological disaster in the making, but Asian and European companies are lining up for a share of its (potential) riches.” – Transitions Online/ Ky Krauthamer

Arctic, Economy, Business, Investment, Trade, Europe, EU, Far East, Siberia, APEC, France, JRL NewsBlog, Norway
Arctic Map

“… [Russian has high hopes for] the [Arctic’s] Northern Sea Route [NSR] … owing to the long-term thinning of the ice pack. … [Use of the route] could shorten the journey from East Asia to Europe by up to two weeks. Norway … is skeptical[,] … has concerns about the environmental dangers of increased shipping in the fragile northern environment, […]

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Russia’s Shadow Economy Large, Diverse and Disputed

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

(Paul Goble – Window on Eurasia – Staunton, August 28, 2019) Keeping track of the size of economic activity intended by those who engage in it to be off the books is not easy in any country, and it is especially difficult in Russia where, in many cases, senior officials are actively involved in or dependent on it and thus […]

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RUSSIALINK: “Russia’s ‘Shadow Economy’ Is Nearly 13% of GDP, Reports Say” – Moscow Times

Economy, Business, Investment, Trade
Hands Opening Envelope Containing Cash

(Moscow Times – themoscowtimes.com – August 29, 2019) More than $175 billion had circulated in Russia’s shadow economy in 2017, according to the latest available official data analyzed by the RBC news website on Thursday. Russia’s State Statistics Service (Rosstat) defines the shadow economy as off-the-books salaries, unofficial employment and informal sales, but not criminal activity. Financial authorities say the […]

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Work Less, Play More: Is Russia Ready For A Four-Day Workweek?

Economy, Business, Investment, Trade
File Photo of Empty Chair and Desk with Computer, adapted from image at osha.gov

(Article text ©2019 RFE/RL, Inc., Radio Free Europe/Radio Liberty – rferl.org – Lyubov Chizhova, Michael Scollon – Moscow, August 12, 2019 – article text also appeared at rferl.org/a/russia-four-day-workweek-medvedev/30131874.html) Speaking at the International Labor Conference in Geneva in early June, Russian Prime Minister Dmitry Medvedev was all about the future, envisioning a day when technology would make old professions obsolete and […]

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‘Russians Fully Reconciled to Capitalism’ and Don’t Want Socialism Back, Shelin Says

Economy, Business, Investment, Trade, History, Soviet Union, Politics, Government, Protests, Elections
Cash, Calculator, Pen

(Paul Goble – Window on Eurasia – Staunton, August 21, 2019) Despite all the talk about a revival of socialism in the face of stagnation, Sergey Shelin says, “Russians are fully reconciled to capitalism, consider it completely practicable, and do not want even to think about the socialist past,” a fundamental transformation of Russian values over the last 30 years. […]

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RUSSIALINK: “Ask Not What the Kremlin Will Do Next” – Kennan Institute/ Maxim Trudolyubov

Politics, Government, Protests, Elections
File Photo of Kremlin Tower, St. Basil's, Red Square at Night

Maxim Trudolyubov is a Senior Fellow at the Kennan Institute and the Editor-at-Large of Vedomosti, an independent Russian daily. Mr. Trudolyubov was the editorial page editor of Vedomosti between 2003 and 2015. (Kennan Institute – wilsoncenter.org/program/kennan-institute – Maxim Trudolyubov – August 16, 2019 – wilsoncenter.org/blog-post/ask-not-what-the-kremlin-will-do-next) The last time ordinary Russians saw their real incomes grow was in 2013. Russia is […]

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JRL NEWSWATCH: “U.S. Sanctions Against Nord Stream 2 Pipeline: Strategic Hit Or Miss?” – Forbes/ Anna Mikulska

Europe, EU, JRL NewsBlog, Oil, Gas, Energy, United States, U.S.-Russian Relations
Gas Flame file photo

“… the U.S. Senate Foreign Relations Committee advanced a bill that would impose sanctions on the Nord Stream 2 (NS2) pipeline … currently under construction … [that] could bring up to 55 billion cubic meters of Russian natural gas directly to Germany. … [T]he House of Representatives’ Foreign Affairs Committee approved a companion bill. The rationale for the sanctions (beyond […]

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JRL NEWSWATCH: “Putin’s Iconoclastic Economics Guru to Lose Kremlin Post [re: Sergei Glazyev]” – Bloomberg/ Evgenia Pismennaya and Stepan Kravchenko

Economy, Business, Investment, Trade, JRL NewsBlog, Politics, Government, Protests, Elections
Kremlin and River

“A[ Kremlin] economist [and top Putin advisor] known for challenging Russia’s tight-money policies … is leaving the Kremlin after seven years. Sergei Glazyev will switch to the Eurasian Economic Commission that oversees relations between … Eurasian Economic Union [member states] … Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan … Glazyev alarmed investors … with calls for massive state spending, abandoning the […]

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JRL NEWSWATCH: “Relentless rise of consumer debt in Russia fuels bubble fears for some” – Reuters/ Darya Korsunskaya, Elena Fabrichnaya, Tatiana Voronova

Economy, Business, Investment, Trade, JRL NewsBlog
Hands Opening Envelope Containing Cash

“… After five years of shrinking real incomes, many Russians are borrowing to make ends meet or even just to pay off their creditors – and the issue is climbing up the political agenda. … Some 2.5 million people earning up to 20,000 roubles ($303.09) a month … less than half the average wage, spend more than half of that […]

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Impact of Sanctions on Russia’s GDP Less Severe Than Low Oil Prices – IMF

Economy, Business, Investment, Trade, Sanctions
Oil Well file photo

The fall in oil prices cost the country on average $48.75 billion in lost economic growth per year. (Moscow Times – themoscowtimes.com – August 6, 2019) Sanctions have had a less severe impact on Russia’s GDP growth than low oil prices, the International Monetary Fund (IMF) said in its latest report on the country. Between 2014 and 2018, sanctions slowed […]

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JRL NEWSWATCH: “Russians feel the pain of Vladimir Putin’s regime; The police’s violent response to protesters’ demands in Moscow has intensified anger over a flatlining economy” – Financial Times/ Henry Foy, Max Seddon

Economy, Business, Investment, Trade, JRL NewsBlog, Politics, Government, Protests, Elections
Diverse Paper Currency, Coins, Line Graph

“… Not since 2012, when thousands of Muscovites took to the streets to protest against … Putin’s return to the presidency, has Russia’s capital seen such a brutal crackdown on demonstrations …. Police trucks packed with young Russians and rows of baton-wielding troops have shown the brute force available to …Putin and his willingness to use it. But the continued […]

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JRL NEWSWATCH: “The Best Way to Deal With Russia: Wait for It to Implode” – Politico/ Peter Eltsov

JRL NewsBlog, Politics, Government, Protests, Elections, Regions, Cities, Municipalities
Russia Regions Map

“… Putin has moved to annex former Soviet territories, orchestrated cyberattacks on foreign infrastructure and rolled back domestic democratic protections …. [I]n reality, Russia today is much weaker than either the Romanov Empire, which lasted from 1613 to 1917, or the Soviet Union. Russia’s biggest problem is internal: … fail[ing] to produce a national identity … encompass[ing] its entire population. […]

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JRL NEWSWATCH: “Russian Media Muffle Protest Images, Broadcast Beef Kebabs; President Putin is trying to stop demonstrations without stoking further discontent over a poor economy, a pension revamp and endemic corruption” – Wall Street Journal/ Thomas Grove

JRL NewsBlog, Media, Internet, Social Media, Television, Politics, Government, Protests, Elections
Satellite Dishes

“As Russian riot police violently suppressed pro-democracy demonstrations across Moscow, detaining around 1,000 people … pro-Kremlin state news channels featured a different top news item: a city-sponsored barbecue festival on the leafy banks of the Moscow River. Russian state media’s studious dismissal of the nascent protest movement has helped the Kremlin keep its attempts to quash the protests off-screen, avoiding […]

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For Russian Economy, August Not April is the Cruelest Month

Economy, Business, Investment, Trade
Diverse Paper Currency, Coins, Line Graph

(Paul Goble – Window on Eurasia – Staunton, August 3, 2019) August has begun with yet another decline in the value of the ruble, continuing the trend this summer month set in 1998 with default and continued last year with a decline of eight percent in the ruble’s exchange rate against Western currencies. And the rest of this month this […]

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RUSSIALINK: “1 in 4 Russians Are Seeing Their Wallets Shrink – Poll” – Moscow Times

Economy, Business, Investment, Trade
Hands Opening Envelope Containing Cash

(Moscow Times – themoscowtimes.com – July 31, 2019) Almost a quarter of Russians say they have felt their finances dwindle in recent months, according to a survey by the state-run Foundation of Public Opinion (FOM) pollster. Real incomes have declined in the past five years in Russia against the backdrop of Western sanctions and falling oil prices. As he took […]

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Russians Living on Loans Face Credit Crunch This Fall, Financial Analyst Says

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

(Paul Goble – Window on Eurasia – Staunton, July 28, 2019) The economic situation of the large number of Russians who have sought to maintain their earlier standard of living by taking out loans is about to get much worse, financial analyst Igor Nikolayev says, because in the coming months, the government plans to make it more difficult for them […]

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Russians Finally Finding Out Just How Poorly Paid They Are, Shelin Says

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

(Paul Goble – Window on Eurasia – Staunton, July 24, 2019) Russians have long been accustomed to hearing that the average wage in Russia is 47,700 rubles (800 US dollars) a month, Sergey Shelin says; but now they are learning that the median wage – the one where half receive more and half less – is only 34,300 rubles (560 […]

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RUSSIALINK: “21M Russians Live in Poverty, Official Data Says” – Moscow Times

Economy, Business, Investment, Trade
Diverse Paper Currency, Coins, Line Graph

(Moscow Times – themoscowtimes.com – July 29, 2019) The number of Russians living below the poverty line has grown by half a million since early 2018, according to official data. Western sanctions and falling oil prices over the past five years have led to a decline in real incomes and a rise in consumer prices. President Vladimir Putin is pursuing […]

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JRL NEWSWATCH: “Russia and China; Partnership is much better for China than it is for Russia; Just how much better might not become clear for a few years yet” – The Economist

China, Cybersecurity, Economy, Business, Investment, Trade, JRL NewsBlog, Media, Internet, Social Media, Television, United States, U.S.-Russian Relations
Asia Map

“[Compared to Russia,] … China[‘s] economy is six times larger (at purchasing-power parity) … its power is growing … as Russia’s fades. … Russia is evolving into a Chinese tributary. … Russia is still a nuclear-weapons state with a permanent seat on the [UNSC]…. It has modernised its armed forces and, as in Syria, is not afraid to use them. […]

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JRL NEWSWATCH: “Russia Cuts Interest Rate Again Amid Global Push for Looser Policy” – Wall Street Journal/ Georgi Kantchev

Economy, Business, Investment, Trade, JRL NewsBlog, United States, U.S.-Russian Relations
Diverse Paper Currency, Coins, Line Graph

“Russia’s central bank lowers its main rate to 7.25%” “… With signs mounting that the world economy is slowing, the [Federal Reserve] is widely expected to lower interest rates for the first time in over a decade …. The European Central Bank signaled … it is preparing to cut short-term interest rates for the first time since early 2016 …. […]

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JRL NEWSWATCH: “Russian Stocks Seen Rising 25% by Mid-2020” – Reuters

Economy, Business, Investment, Trade, JRL NewsBlog
File Photo of Outdoor Electronic Sign with Russian Exchange Data

“… [impacted by] the price of oil, Russia’s key export, and fading fears of more Western sanctions …. Russian stock indexes achieved their biggest gains year-to-date in mid-July. The dollar-based RTS had risen nearly 33% back then and its rouble-based peer MOEX was up 21%. Russia’s largest gas producer Gazprom gained nearly 68% year-to-date earlier in July, while the country’s […]

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Are Xi Jinping and Vladimir Putin Partners? Interpreting the Russia-China Rapprochement

China, Economy, Business, Investment, Trade, Far East, Siberia, APEC, Military
Map of China and Environs, adapted from image at cdc.gov

(PONARS Eurasia – Hilary Appel – July 19, 2019 – Hilary Appel is the Podlich Family Professor of Government and George R. Roberts Fellow at Claremont McKenna College) (PONARS Eurasia Policy Memo) The blossoming of relations between the Russian and Chinese presidents has been prominently on display. Images have been widely distributed of Xi Jinping awarding Vladimir Putin the newly […]

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JRL NEWSWATCH: “IMF Cuts Forecast for Russian 2019 GDP Growth to 1.2%, Calls for Reforms” – Reuters

Economy, Business, Investment, Trade, JRL NewsBlog
File Photo of IMF Acronym on Wall Below Row of Circular Lights, adapted from image at state.gov by Steven C. Welsh :: www.stevencwelsh.com :: www.stevencwelsh.info

“The International Monetary Fund cut its forecast for Russian economic growth in 2019 to 1.2% from 1.4% after a weak first quarter, saying broader reforms would be needed for stronger growth. Without deeper structural reforms, long-term growth is projected to settle around 1.8%, the IMF said …. Priority should be given to creating a more vibrant private sector and reducing […]

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JRL NEWSWATCH: “Review: The Struggle of Russia’s crony capitalists” [re: Anders Aslund new book]” – Reuters/ Dasha Afanasieva

Books, New Books, Book Releases, Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, JRL NewsBlog, Politics, Government, Protests, Elections
File Photo of Kremlin Tower, St. Basil's, Red Square at Night

“… Anders Aslund … in ‘Russia’s Crony Capitalism: The Path from Market Economy to Kleptocracy‘ … [casts Putin] as a patriarchal overlord … handsomely reward[ing] those loyal …. creat[ing] a new elite of friends, former co-workers and relatives. What’s less clear is what, if anything [can be done about it]. … [A]naly[zing] the last 15 or so years of Putin’s […]

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Russia’s FDI Outlook Grim, with No Chinese Rescue in Sight

Economy, Business, Investment, Trade, Europe, EU, Oil, Gas, Energy, United States, U.S.-Russian Relations
Diverse Paper Currency, Coins, Line Graph

(Russia Matters – russiamatters.org – Nicholas Trickett – July 11, 2019) Nicholas Trickett is editor in chief of BMB Russia and an associate scholar with the Foreign Policy Research Institute. He specializes in the domestic and international political economy of the Russian energy and infrastructure sectors and Russian foreign policy, and is currently finishing an MSc in international political economy […]

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RUSSIALINK: “Visa and Mastercard May Soon Exit Russia Under Draft Law – Reports” – Moscow Times

Economy, Business, Investment, Trade, Sanctions, United States, U.S.-Russian Relations
File Photo of Stack of Credit Cards, adapted from image at fdic.gov

(Moscow Times – themoscowtimes.com – July 12, 2019) New Russian payment system laws could lead the world’s largest credit and debit card companies Visa and Mastercard to exit the country’s market, the Kommersant business daily reported on Friday. U.S.-based Visa and Mastercard stopped servicing bank cards in annexed Crimea after the United States imposed sanctions on Russia in 2014. Russia […]

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RUSSIALINK: “Russians Work More Nights, Weekends Than Other Europeans – Research” – Moscow Times

Economy, Business, Investment, Trade
Men Sitting Around Long Oval Boardroom Table, File Photo of FIFA Officials Meeting with Vladmir Putin

(Moscow Times – themoscowtimes.com – July 10, 2019) Russia is among the leading countries in Europe where employees regularly work night or weekend shifts, recent research published by the Moscow-based Higher School of Economics (HSE) has said. Nearly half of Russians polled last month said they don’t support the idea of a four-day work week over fears that it would […]

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RUSSIALINK TRANSCRIPT: “[Putin at] Meeting with Russian journalists” – KremlinRu

Economy, Business, Investment, Trade, Georgia, Politics, Government, Protests, Elections
Yekaterinburg file photo

(Kremlin.ru – July 9, 2019) Following the II Global Manufacturing and Industrialisation Summit, Vladimir Putin met with Russian journalists and answered their questions. President of Russia Vladimir Putin: Good afternoon. Question: First question is about Georgia. May I? Vladimir Putin: We are at such a good international event on technology. Does it [Georgia] demonstrate any achievements in terms of applying […]

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RUSSIALINK: “Russia to Slash Soviet-Era List of Off-Limits Jobs for Women, Media Reports” – Moscow Times

Economy, Business, Investment, Trade, Women
File Photo of Russian naval vessel on Arctic Ocean

(Moscow Times – themoscowtimes.com – July 4, 2019) Women in Russia will be allowed to work as truck drivers and serve in the navy under new rules taking effect in 2021, the RBC news website reported Thursday. The Russian government bans women from holding 456 jobs in 38 industries that entail physically strenuous tasks or harmful working conditions. The restrictions […]

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