Like Moscow, Ankara has fallen out of the top 30 largest holders of US T-bonds. Iran and China are also on board with the idea of settling transactions in national currencies.
In the topsy turvy world of Russian business it is perhaps no surprise that a state-owned bank is the biggest in the country, Russia’s most valuable company, highest profile financial institution — and now most valuable brand.
Almost half the population of the CEE region were glued to their tellies watching the FIFA World Cup between June 14 and July 15 this year. The Russian game against Croatia attracted the biggest TV audience in 20 years.
The Kremlin has been cracking down on online criticism of the government. VK has been accused of being too compliant as of the 182 criminal cases launched in 2017 for social network posts, 138 were based on VK posts.
Russia’s ruble fell to RUB69.40 against the dollar on August 13, its lowest level in two years, pulled down by a combination of the threat of new US sanctions and the collapse of the Turkish lira.
Russian oil producers have already returned oil production to record levels this year and will boost crude production next year further thanks to the launch of several greenfield projects, Opec said.
Survey report from New York-based Academy Securities notes Ankara’s increasing cosiness with Moscow and rows with the US.
Signing of convention made for a nice photocall, but expect more interminable wrangling on how to divide up the oil and gas resources.
Russia’s GDP expanded by 1.8% in the second quarter, a bit weaker than analysts were expecting but up from 1.3% in the first quarter and continuing in the right direction, economists said on August 12.
Turkey finds itself in tremendous economic peril and Donald Trump’s actions only serve to aggravate the situation. The Kremlin may sense a shot at breaking up Nato. And analysts even see the possible emergence of an anti-US “axis of the sanctioned”.
“The US has declared economic war on Russia,” Russian Prime Minister Dmitry Medvedev said in remarks that set the stage for a real military clash between the two countries.
Russian stocks tumbled after the US State Department announced it will impose new sanctions on Russia by the end of August over the alleged used of military-grade nerve agent in the poisoning of former Russian agent Sergei Skripal on UK soil
Russia’s economy is doing fairly well but what is holding it back from faster growth is a crisis of confidence among businesses. Corruption and red tape are problems, but the predatory nature of the state-owned enterprises is a bigger one.
Russia’s economic growth may well be in the toilet, but that's probably the best time to get into the toilet paper business.
Foreign investors put up capital for 238 projects in 2017 — a record number for Russia according to EY. While a number of investments from western countries are on hold, their absence is more than made up for by new investors from Asia.
Russia's Audit Chamber, which recently got a new boss, heavyweight policymaker Alexei Kudrin, is demanding a broader mandate to fight corruption, position itself as the know-how centre and the go-to anti-corruption institution.
A lacklustre economic performance and fears of new sanctions have led investors to sell Russian stocks.
Consumer price inflation ticked up to 2.5% in July, just below the consensus forecast of 2.6%, but is expected to continue to rise to the long-term trend level of 4% over the next year, according to Central Bank of Russia.
Russia's largest oil company state-controlled Rosneft has launched the company’s first ever share buyback programme worth $2bn that will last until December 2020 acquiring a maximum of 340mn or 3.2% of company's share capital and a third of freefloat
Russian service sector growth accelerated again in July, picking up momentum from June’s recent low and defying a slowdown in manufacturing in the last three months, just keeping the composite business PMI index in the black.