Category: Economy, Business, Investment, Trade
Review: Arkady Ostrovsky’s ‘The Invention of Russia’
This new history tells a compelling, if normative, story of how Russia’s journalists and entrepreneurs threw off their former shackles, only to put them back on again. (opendemocracy.net – Maxim Edwards – February 3, 2016) Maxim Edwards is Commissioning Editor at oDR. He writes on nationalism, inter-ethnic and inter-religious relations, with a focus on post-Soviet countries. His articles have appeared […]
» Read moreRussia’s latest anti-crisis plan: How will it work?
The Russian government is making fresh attempts to lead the economy out of the crisis, primarily by investing in industry. RBTH analyzes the Kremlin’s latest anti-crisis plan and offers three alternative strategies for overcoming the crisis. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – February 4, 2016) At the beginning of 2016 the signs for the Russian […]
» Read moreRussia sees 1% January inflation, annual falls to single figures – Rosstat
MOSCOW. Feb 5 (Interfax) – Russia had 1% inflation in January 2016, compared with 0.8% in both December and November 2015, the Federal State Statistics Service (Rosstat) said. Analysts told Interfax in a consensus forecast at the end of January that they thought inflation for the month would be 1%. Inflation soared to 3.9% in January 2015 – the highest […]
» Read moreMore Than Half of Russians Negative on State of Economy – Poll
(Moscow Times – themoscowtimes.com – February 5, 2016) More than half of Russians have a negative outlook for the economic situation, the highest amount since the country’s financial crisis began, the Kommersant newspaper reported Friday, citing a recent poll. According to the results of the poll carried out by the Obshchestvennoye Mnenie (Public Opinion) Foundation, 54 percent of Russians now […]
» Read moreNEWSLINK: “Russian State Assets for Sale: The Privatization Delusion” – Moscow Times/Mark Adomanis
NEWSLINK: “By Bread Alone: Why Poor Russians Aren’t Protesting” – Carnegie Moscow/Gazeta.ru/Andrei Kolesnikov
NEWSLINK: “A whiff of panic in the Kremlin as Russia’s economy sinks further” – Reuters/William Pomeranz
Can Russia Be More Miserable? Judging by Oil, the Answer Is Yes
Combining inflation and unemployment, Russia is among the world’s unhappiest economies (Bloomberg – bloomberg.com – Elena Popina – February 4, 2016) [Charts here bloomberg.com/news/articles/2016-02-04/can-russia-be-more-miserable-judging-by-oil-the-answer-is-yes] The sinking price of crude has Russia hostage over a barrel of oil. For an inkling of how unhappy everyday Russians have gotten as Brent crude heads further south, take a look at the Misery Index […]
» Read moreNEWSLINK: “Russian Banks, Lies and Emojis” – International New York Times: Masha Gessen
TRANSCRIPT: [Putin at] Meeting with the core group of the Leaders Club
(Kremlin.ru – February 3, 2016) Vladimir Putin met with the core group of the Leaders Club, an informal association of small and medium business owners from various economic sectors. The Leaders Club was established in February 2012 and is engaged primarily in having businesspeople provide independent evaluations of conditions for doing business in Russia’s regions and the quality of state […]
» Read morePutin Opens Asset Sales to Foreigners as Budget Gap Widens
(Bloomberg – bloomberg.com – Ilya Arkhipov and Andrey Biryukov – February 2, 2016) President Vladimir Putin will allow foreign investors to bid for stakes in some of Russia’s largest companies as the government prepares its most ambitious asset-sale program in years to close a widening budget gap. “Russia was and remains open for foreign investment and Russia is interested in […]
» Read moreNEWSLINK: “Russian oligarchs most likely buyers in Putin’s new privatisation plan” – Reuters
NEWSLINK: “Could sanctions spur Russia’s ascent to agricultural superpower? Since the end of the Soviet era, Russia’s agricultural industry has languished. But with sanctions now keeping European goods out of the Russian market, small domestic farmers are stepping up.” – Christian Science Monitor
Kremlin: Privatization of Russian companies open for foreign investors
(Interfax – February 2, 2016) Privatization of Russian companies is open for foreign investors, and Russia is interested in attracting new foreign partners, the Kremlin has said. “Russia has always been interested in foreign investors; we value cooperation with those who continue to operate on the Russian market and we are interested in an inflow of fresh investments,” Kremlin press […]
» Read morePutin Says No Privatization at Knockdown Prices
(Moscow Times – themoscowtimes.com – February 2, 2016) President Vladimir Putin on Monday threw cold water on proposals to quickly sell stakes in state companies to fill holes in Russia’s budget. “There should be no sale of shares cheaply, at giveaway prices. This won’t bring particular benefit to the budget,” Putin said at a meeting with officials and heads of […]
» Read moreTRANSCRIPT: [Putin at] Meeting on privatisation
(Kremlin.ru – February 1, 2016) Vladimir Putin held a meeting to discuss privatisation issues. President of Russia Vladimir Putin: Good afternoon, colleagues. We have met today to discuss the Government’s privatisation plans for 2016. I have just looked over a few issues with [Prime Minister] Mr Medvedev. The privatisation process plays an important part in changing the Russian economy’s structure […]
» Read moreEconomic Minister says moderate economic growth possible in Russia in 2016
(Interfax – February 2, 2016) Economic Development Minister Alexei Ulyukayev does not rule out the possibility of the Russian economy shifting to moderate growth in 2016. “A shift is already possible this year, perhaps, to moderate, recovery growth in the economy for the time being. We should be prepared for this,” Ulyukayev said at a ministry meeting on Feb. 2. […]
» Read moreRussians put economy, inflation on top of most pressing national problems
(Interfax – February 2, 2016) The economy, inflation, and low living standards have been viewed by the public as the top three most pressing problems in Russia, for the past six months, the Russian Public Opinion Study Center (VTsIOM) has said. The economy was the number one problem in the January rating. Concerns about economic affairs started growing in November […]
» Read moreNEWSLINK UNIAN (Kyiv): “Government’s report: economy down 10.4% in 2015”
NEWSLINK: “Russia’s crisis produces a paradox: surging luxury car sales” – Reuters
NEWSLINK: “Russia Ready to Discuss Oil Production. Foreign Minister Sergei Lavrov says country is prepared to meet world’s top oil producers.” – Wall Street Journal
Is There A Non-West for Russia to Lead?
(PONARS Eurasia – ponarseurasia.org – Keith Darden – January 28, 2016 – ponarseurasia.org/memo/non-west-for-russia-to-lead) Keith Darden is Associate Professor in the School of International Service at American University. (PONARS Eurasia Policy Memo) Recently, Russian policymakers and strategists have articulated a vision of a vibrant non-Western world, one in which the United States and European leaders are increasingly marginal and where Russia […]
» Read moreAs Ruble Nosedives, Russians Are Priced Out Of Live-Saving Western Treatment
(RFE/RL – rferl.org – Claire Bigg – February 1, 2016) As the ruble continues its catastrophic tumble, hitting another historic low last month, the pain is being felt keenly across Russia. Among those worst hit are patients in need of urgent surgery abroad or other life-saving treatment billed in foreign currencies. “It all started with a bad cough and a […]
» Read moreFour Russias: the new political reality
Uneven modernisation has left its mark on Russia, and the authorities are only too happy to exploit it. What does the future hold for Russia’s regional divide? (opendemocracy.net/American Enterprise Institute – Natalia Zubarevich – February 1, 2016) Natalia Zubarevich is a professor in the Department of Geography at Moscow State University and the director of the regional program at the […]
» Read moreNEWSLINK: “Russian Central Bank Keeps Rates on Hold, Warns On Inflation Risk.” – Wall Street Journal
Who benefits and who loses from revocation of anti-Iranian sanctions
If Moscow plays its cards correctly, it will be able to strengthen its positions not only in Iran but also throughout the entire Middle East. (Russia Beyond the Headlines – rbth.ru – GEVORG MIRZAYAN – January 29, 2016) The lifting of sanctions against Iran has generated an entire wave of speculation about the upcoming reformation of the Middle East. However, […]
» Read moreThe Upside of a Down Ruble
(Moscow Times – themoscowtimes.com – Peter Hobson – January 29, 2016) President Vladimir Putin chose an unfortunate time to trumpet the “additional opportunities” for Russian companies arising from a weaker ruble. As he spoke to delegates at a business forum on Jan. 20, the Russian currency was gyrating wildly. The next day it plummeted to its lowest level in recent […]
» Read moreRussia’s Great Shift Downward; Putin has shown little interest in changing the economic model.
(Bloomberg – bloomberg.com – Carol Matlack – January 28, 2016) For Russia’s battered economy, 2016 already looks miserable. The ruble has slumped to record lows as oil prices have fallen 11 percent since Jan. 1, to around $30 a barrel. The government, which gets nearly half its revenue from oil and gas, is scrambling to plug a 1.5 trillion-ruble ($19.2 […]
» Read moreRussia Sanctions Can Be Lifted If Minsk Implemented – U.S. Ambassador
(Moscow Times – themoscowtimes.com – January 29, 2016) Sanctions against Moscow can be lifted after it implements the Minsk peace agreement with Ukraine, including restoration of Kiev control over separatist eastern regions, the U.S. Ambassador in Moscow John Tefft said in an interview published on the U.S. Embassy’s website Thursday. Washington has the full backing of its European allies in […]
» Read moreNEWSLINK TASS: “Almost 50% of Russians fear repetition of 1998 economic crisis – pollster”
Sweden delivers judgment in favor of Russia in dispute with Yukos holders
(Interfax – January 28, 2016) A Swedish appeals court upheld Russia’s appeal filed earlier in its dispute with the Spanish investment funds, which were holders of American Depositary Receipts (‘ADRs’) of Yukos, Kommersant newspaper reported on Jan. 28. The appeals court acknowledged the fact that the Arbitration Institute of the Stockholm Chamber of Commerce that sustained the funds’ claims to […]
» Read moreRBTH: Investors could benefit from Russia’s economic turmoil
As the Russian economy hits hard times, with business incomes falling, government spending facing cuts and the ruble losing value, RBTH spoke to Sergei Katyrin, president of Russia’s Chamber of Commerce and Industry, to find out how foreign companies are enduring the current “perfect storm” for business. (Russia Beyond the Headlines – rbth.ru – ILYA KROL, RBTH – January 28, […]
» Read moreNEWSLINK: “Ukraine’s central bank downgrades 2016 growth forecast” – AFP
NEWSLINK CNBC: “Why Russia’s pivot East is crucial for its own survival”
TRANSCRIPT: [Putin at] Working meeting with Economic Development Minister Alexei Ulyukayev
(Kremlin.ru – January 26, 2016) Vladimir Putin had a working meeting with Minister of Economic Development Alexei Ulyukayev to discuss current economic situation. President of Russia Vladimir Putin: Mr Ulyukayev, we are summing up last year’s results. Though it may yet be early to speak of final results, the numbers at the disposal of your Ministry are very close to […]
» Read moreNine lingering myths about Russia
We are often held prisoner by imposed stereotypes and opinions about countries, people and events. RBTH has collected nine myths about Russia that are far from accurate. (Russia Beyond the Headlines – rbth.ru – NATALYA PUKHOVA, SPECIAL TO RBTH – January 26, 2016) 1. The death rate in Russia is higher than its birth rate There is a widespread belief […]
» Read moreRussians suggest state should save money on officials, not on social policy
(Interfax – January 27, 2016) In the situation of the crisis, Russians support the idea of saving money on officials, but believe it is unacceptable to cut the costs of healthcare, social policy, science and education, sociologists have reported, citing a poll conducted by VTsIOM. The poll, which surveyed 1,600 people, in 130 populated areas in 46 regions, was conducted […]
» Read moreNEWSLINK: “Fancy a trip to Russia? Better not. It’s the ’11th most dangerous’ country in the world.” – Journalitico/Danielle Ryan
NEWSLINK Reuters: “Russia cautious on prospects for oil cut deal with OPEC”
NEWSLINK: “Kremlin demands ‘Putin corruption’ proof” – BBC: Russia BBC Panorama
NEWSLINK Forbes/Kenneth Rapoza: “Russian Economy Holding On For Dear Life”
NEWSLINK CBC: “Russia’s bleak winter: Protests grow as ruble weakens and Kremlin makes painful cuts.”
NEWSLINK Wall Street Journal: “Conflict-of-Interest Query Resurfaces in Russian Money Laundering Case” [re: William Browder]
NEWSLINK Carnegie Moscow/Mikhail Krutikhin: “The Russian Oil Industry in the Era of Cheap Crude. A recent slight increase in Russia’s oil output is likely to be short-lived. Oil production may decline almost twofold by the end of the year due to a lack of financing for new field exploration and development.”
Russians’ Real Wages Fall 9.5% in 2015
(Moscow Times – themoscowtimes.com – January 26, 2016) As Russia’s inflation reached double-digits last year, Russians saw their real wages decline by 9.5 percent compared to 2014, data published by the Rosstat state statistics service showed Monday. In December 2015, real wages of Russians dropped 10 percent when compared to the same month in 2014, according to Rosstat data. The […]
» Read moreNEWSLINK Forbes/Kenneth Rapoza: “American In Charge Of Ukraine’s Finances Thinks Russia Debt Deal Doable”
NEWSLINK: “Russian economy contracts 3.7 percent in 2015, slump set to continue” – Reuters
At Davos forum Russia promises to eliminate its dependence on oil
Russian representatives announced imminent large-scale economic reforms at the World Economic Forum. The proposed changes would affect the country’s dependence on oil and the facilitation of investors accessing the market. (Russia Beyond the Headlines – rbth.ru – ALEXEI LOSSAN, RBTH – January 25, 2016) Low oil prices are helping the Russian government carry out large-scale reforms despite the drastic reduction […]
» Read moreThe Exodus Equation: Study Shows Russian Math Geniuses Excelling In West
(RFE/RL – rferl.org – Antoine Blua – January 24, 2016) The massive exodus of scientists since the 1991 collapse of the Soviet Union is a known phenomenon that has greatly affected the field of mathematics. More than 30 speakers invited to address the 1986 International Congress of Mathematicians in California came from the Soviet Union — most of them from […]
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