Category: Economy, Business, Investment, Trade

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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Ambassador John F. Tefft Speech to the American Chamber of Commerce in Russia

Economy, Business, Investment, Trade, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
John Tefft file photo

(US Embassy Moscow – January 20, 2015) Thank you for that introduction, Alex. I am grateful for this opportunity to speak to members of the American Chamber of Commerce in Russia. I am sure you already know them and work closely with them, but let me start by introducing my team. First, there is Deputy Chief of Mission Lynne Tracy […]

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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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BOOK REVIEW: Russia’s Mobutu?

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Man Placing Stack of Large Bills into Inside Pocket of Suitcoat

(Business New Europe – bne.eu – Derek Brower in London – January 13, 2015) Corruption in Vladimir Putin’s Russia has sprouted its own sub-genre for Western publishers. Few of the many books, though, have the laser-like focus or amass the same devastating detail as Karen Dawisha’s “Putin’s Kleptocracy: Who Owns Russia?” (Simon & Schuster, New York: 2014). Thanks to Britain’s […]

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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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EU split on maintaining Russian sanctions

Economy, Business, Investment, Trade, Europe, EU, Sanctions, Ukraine, Russo-Ukrainian War
Truck at Russian Border Crossing

(Business New Europe – bne.eu – Ben Aris in Moscow – January 16, 2015) With European growth faltering, and mounting fears of a total meltdown of the Russian economy that no-one wants, the European Union’s commitment to sanctions on Russia is wavering. At least eight EU countries are reported to be against renewing EU economic and financial sanctions when they […]

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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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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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NEWSWATCH: Russia ‘may face chaos’ if extra sanctions imposed: Germany

Economy, Business, Investment, Trade, Europe, EU, Sanctions, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Map of Germany

[“Russia ‘may face chaos’ if extra sanctions imposed: Germany” – AFP – January 4, 2015] AFP covers a German official’s assessment of the potential impact of additional sanctions on Russia: Tougher sanctions may destabilise the situation further in Russia and plunge the country into chaos, German deputy chancellor Sigmar Gabriel warned … ‘Whoever wants that will provoke a much more dangerous situation […]

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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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Best of 2014: People of the year

Economy, Business, Investment, Trade, Health, Epidemics, Substance Abuse, Life in Russia, Culture, Arts
New Year's Eve on Red Square with Fireworks, Kremlin, Saint Basil's, Crowds

(Russia Beyond the Headlines – rbth.ru – Oleg Yegorov, special to RBTH – December 22, 2014) The year 2014 was complicated, with groundbreaking events aplenty on the political scene, as well as in technology, media and numerous cultural spheres. RBTH presents the Russians who in its view played the most noteworthy roles in politics, science, and culture this year. 1. […]

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China Offers Russia Help With Currency Swap Suggestion

China, Economy, Business, Investment, Trade
China Map

(Bloomberg – bloomberg.com – December 22, 2014) Two Chinese ministers offered support for Russia as President Vladimir Putin seeks to shore up the ruble without depleting foreign-exchange reserves. China will provide help if needed and is confident Russia can overcome its economic difficulties, Foreign Minister Wang Yi was cited as saying in Bangkok in a Dec. 20 report by Hong […]

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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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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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STRATFOR: Viewing Russia From the Inside

Economy, Business, Investment, Trade, Europe, EU, Ukraine, Russo-Ukrainian War, United States, U.S.-Russian Relations
Kremlin and Saint Basil's File Photo

(Stratfor.com – George Friedman – December 16, 2014) Last week I flew into Moscow, arriving at 4:30 p.m. on Dec. 8. It gets dark in Moscow around that time, and the sun doesn’t rise until about 10 a.m. at this time of the year – the so-called Black Days versus White Nights. For anyone used to life closer to the […]

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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: “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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Business New Europe: Russia is running out of money – not…

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

(Business New Europe – bne.eu – MOSCOW BLOG: Ben Aris in Moscow – December 11, 2014) There has been a spate of articles recently suggesting that Russia is on the edge of a complete economic meltdown. There was an article in the UK’s The Daily Telegraph suggesting that its economy has lost a third of its value in dollar terms […]

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Moscow Times: Life After Putin: Teaching Future Russia

Economy, Business, Investment, Trade, Education, Academia, Science, Technology, Engineering
Skolkovo File Photo

(Moscow Times – themoscowtimes.com – Alexey Eremenko – December 11, 2014) The professional future is bright in Russia, where space geologists and airship constructors will be among the most in-demand professionals by the 2020s, according to an atlas of Russia’s future job market recently published by Skolkovo’s Moscow School of Management. But whether Russia will be churning out droves of […]

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Russia Beyond the Headlines: Medvedev urges Russia to address dependence on world oil prices

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

(Russia Beyond the Headlines – rbth.ru – Alexei Lossan, RBTH – December 11, 2014) In an address broadcast on Russia’s main TV channels, Prime Minister Dmitry Medvedev has said the country needs to wean itself off its dependence on oil prices. In order to accomplish this, Russia needs to develop innovative projects and use the sanctions imposed against it to […]

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Moscow Times: Medvedev: In 2014, Crimean Annexation, Sochi Olympics Outshone Grim Economic Situation

Economy, Business, Investment, Trade, Sports, Olympics, World Cup, Ukraine, Russo-Ukrainian War
Dmitry Medvedev file photo

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – December 11, 2014) Prime Minister Dmitry Medvedev struck an optimistic note throughout a 1 1/2-hour news conference Wednesday, drawing attention to what he viewed as Russia’s crowning achievements of this year: the Sochi Olympic victory and the annexation of Crimea. Medvedev spoke about a wide array of issues, from the economy to […]

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