(Moscow News – themoscownews.com – Nathan Gray – March 11, 2013) It would be hard to find expats in Moscow who deny that life has become more comfortable here since 2000 – more expensive, but more comfortable. Yet some people, such as Alexander Lorenz, do look back with nostalgia, The chairman of the Raiffeisen Pension Fund, he arrived in Moscow […]
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(Russia Beyond the Headlines – www.rbth.ru – Alexander Yakovenko, special to RBTH – February 26, 2013) Alexander Yakovenko is Ambassador of the Russian Federation to the United Kingdom. He was previously Deputy Minister of Foreign Affairs of the Russian Federation. The first meeting of the G20 Finance Ministers and Central Bank Governors under Russia’s G20 presidency was held in Moscow […]
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(Window on Eurasia – Paul Goble – Staunton, February 22, 2013 – http://windowoneurasia2.blogspot.com/2013/02/window-on-eurasia-west-vastly.html) A report by the Washington Center for International Policy’s Global Financial Integrity program suggests that illegal capital flight from the Russian Federation over the last 17 years has been “stupifyingly” large, but in fact, a Russian economic analyst says, the report’s figures understate the size and implications […]
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MOSCOW. Feb 21 (Interfax) – Support of the Russian public to President Vladimir Putin’s bill banning foreign bank accounts of civil servants is practically unanimous, the Public Opinion Foundation said. It polled 1,500 respondents in 100 towns and cities in 43 regions on February 16-17. Seventy-three percent heard about the bill, and 26% learned about it during the poll. From […]
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(Russia Beyond the Headlines – www.rbth.ru – Ben Aris, special to RBTH – Februray 19, 2013) The size of Russia’s shadow economy undermines recent efforts to improve the business climate. Russia has lost $782.5 billion in “illicit” capital flight over the last 18 years while $552.9 billion of illegal money has entered the country over the same period of time, […]
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(Moscow Times – themoscowtimes.com – Rachel Nielsen – Februry 14, 2013) He has had long discussions with Microsoft founder Bill Gates, sits on the Skolkovo Foundation’s board of trustees with Prime Minister Dmitry Medvedev and presidential aide Elvira Nabiullina and heads a company investing $1 billion of federal money into next-generation technology startups. These weighty responsibilities are the most recent […]
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MOSCOW. Feb 13 (Interfax) – The accessibility of information about the activities of Russian financial institutions does not yet meet world standards, Prime Minister Dmitry Medvedev said. At a cabinet meeting on Wednesday, the prime minister demanded that measures be taken to eliminate this shortcoming. “We need to meet the level of world standards in terms of the accessibility, quality […]
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(Bloomberg – bloomberg.com – Scott Rose – February 12, 2013) Illicit capital outflows from Russia were as much as $211.5 billion between 1994 and 2011 as the underground economy moved funds abroad, according to Global Financial Integrity, a group that studies financial flows. Total illicit outflows were $9.99 billion in 2011, down from a peak of $41.6 billion in 2010, […]
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(Bloomberg – bloomberg.com – Scott Rose & Olga Tanas – February 12, 2013) Russia’s central bank refrained from easing borrowing costs after inflation surged to a 15-month high, warning of the threat of faster price growth and defying government calls for lower rates to support the slowing economy. Bank Rossii held the refinancing rate at 8.25 percent for a fifth […]
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(Moscow Times – themoscowtimes.com – Howard Amos – January 17, 2013) A capital outflow of up to $10 billion every three months would be an acceptable level under current macroeconomic conditions, a leading figure at the Central Bank said. Russia saw $56.8 billion leave the country in 2012, stoking fears that the Kremlin is struggling to control capital flight and […]
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(Moscow Times – themoscowtimes.com – Irina Filatova – Dec. 18, 2012) The real size of capital outflow last year was actually half as much as reported, and only reached about $40 billion, with the figure having no correlation to the investment climate, according to a survey released Monday. Some components considered by the Central Bank, such as cash leaving the […]
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MOSCOW. Dec 18 (Interfax) – Anti-western rhetoric has stopped the establishment of an International Financial Center (IFC) in Russia, former finance minister and now chairman of the Civil Initiatives Committee, Alexei Kudrin, said. Instead of dialogue between the authorities and the public, legislation is being passed that is hitting protestors. One myth is the assertion that almost all civil activity […]
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[Russia Day to be held at New York Stock Exchange – Itar-Tass – Dec. 3, 2012 – Russia Day to be held at New York Stock Exchange – http://www.itar-tass.com/en/c154/587860.html] Itar-Tass covers plans to hold a “Russia Day” conference at the New York Stock Exchange: Russia Day is to be held at the New York Stock Exchange (NYSE) on Monday. The […]
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(Bloomberg – bloomberg.com – Ksenia Galouchko and Michael Patterson – November 15, 2012) Russian Prime Minister Dmitry Medvedev’s efforts to give his citizens a better night’s sleep and ease stress for the nation’s farm animals are undermining his push to make Moscow a global financial center. Trading of Micex Index (INDEXCF) stocks has dropped 15 percent in Moscow since Oct. […]
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(Moscow Times – themoscowtimes.com – Howard Amos – November 1, 2012) Russia placed 39th on a list of global financial systems compiled by the World Economic Forum on Wednesday, with no improvement on last year’s position and three places lower than 2008. The goal of turning Moscow into an international financial center and making the ruble a reserve currency has […]
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STRASBOURG, October 8 (RIA Novosti) – Russia’s former Finance Minister Alexei Kudrin has been offered the post of head of Russia’s new financial mega-regulator, he disclosed on Monday. “Yes, I have received the offer but I’m not ready so far to discuss it in detail,” Kudrin said on the sidelines of the global forum for democracy in Strasbourg. First Deputy […]
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