Russia’s oil and gas sector sees crude production flat m/m in November (+0.1%) but gains +4% y/y

bne IntelliNews December 5, 2016

Opec may have agreed a production cut deal with oil producers, including a 300,000 barrel cut in Russian production, but Russia’s oil production continues to run at record highs and leading companies are not keen to cut.

WWII nearly over: Russia in peace talks with Japan

bne IntelliNews December 5, 2016

Russia and Japan have entered into “detailed discussions” on a peace treaty. WWII never ended, at least for the two countries, as they did not formalise an end to hostilities and are technically still at war.

Gazprom tops list of biggest Russian companies

bne IntelliNews December 2, 2016

The Russian business weekly Expert finds that firms operating in the oil & gas sector continued to dominate in its annual list of Russia’s 400 largest companies, with Gazprom in the top slot

KYIV BLOG: Corruption in Ukraine - business as usual?

Sergei Kuznetsov in Kyiv December 2, 2016

Ukraine's ex-president Viktor Yanukovych has been indicted for state treason for facilitating Russian aggression. But the fugitive leader, who fled to Russia in February 2014, is unlikely to stand trial any time soon.

Sir Peter Hambro leads call for UK to reset Russia relations

Jason Corcoran in London December 2, 2016

Gold-mining tycoon says British political establishment has to forget Litvinenko killing and get back to business.

Russian GDP growth down to 0.5% y/y in October

bne IntelliNews December 1, 2016

Russian GDP was down 0.5% y/y in October, 0.7% y/y contraction for 10M16.

Russia uncowed and heading back to growth, Putin declares in annual address

bne IntelliNews December 1, 2016

Putin pushes message of economic and social development on a homegrown platform of strength after two years of Russia's isolation.

External winds buffet an improving year

Nicholas Watson in Prague December 1, 2016

Despite the external blows of Brexit and then ‘Trumpquake’, there was a general improvement in Central and Eastern Europe’s transaction climate in 2016.

Russia's Russneft IPO raises about $500mn for owners

bne IntelliNews November 25, 2016

The sale of 20% of its shares at RUB550 per share valued the company at $2.5bn.

Arrest of EconMin Ulyukaev casts corruption shadow on government, Putin

bne IntelliNews November 25, 2016

The arrest of the economy minister for allegedly taking a $2mn bribe has cast a shadow of widespread corruption at the heart of government and to a lesser extend on President Vladimir Putin, according to the Levada Center.

STOLYPIN: Russian security spending and the biggest threat to Russia

Mark Galeotti of the Institute for International Relations Prague November 25, 2016

The current projections for the 2017 budget suggests once again, as in Soviet times, Russia’s future is being mortgaged in the name of its military aspirations.

Russia’s VTB axes global banking head Andrew Cornthwaite

Jason Corcoran in Moscow November 25, 2016

VTB has had to slash hundreds of staff from its office in London and on Wall Street because of sanctions.

Putin approval rating at 4-year high of 86%

bne IntelliNews November 24, 2016

President Vladimir Putin’s rating rose to its highest in 4 years of 86% of Russians who say they are happy with the president, according to independent pollster the Levada Center in October, up from a brief dip to 72% a month earlier.

CONFERENCE CALL: Europe leaves normative era as Russian influence in CEE grows

Dan Nolan in Budapest November 23, 2016

“Russian influence in the CEE region” was the focus of discussion at a conference organised by the Budapest-based think-tank Political Capital.

Russian start-up Zvooq sues internet giant Yandex for $29mn for breach of contract

Ben Aris in Berlin November 22, 2016

Russian music streaming site Zvooq is suing internet behemoth Yandex for $29mn for alleged breach of contract and accuses the Nasdaq-listed company of destroying the delicate investment climate in Russia by exploiting its market power.

Russia’s Sberbank makes £5.5mn injection to boost struggling London unit

Jason Corcoran in London November 22, 2016

Russian state-owned lender Sberbank has pumped £5.5mn into its London investment bank to boost a business reeling from sanctions and a costly sexual discrimination case.

Russia’s retail sales decline accelerates in October

bne IntelliNews November 22, 2016

Russia’s retail sales ticked down -4.4% as unemployment ticked up in October to 5.4%

Russia posts mixed set of short-term economic indicators for October

bne IntelliNews November 22, 2016

Russian income figures deteriorated in October after a brief respite in September. Both nominal and real disposable incomes fell, while real incomes were the only indicator to improve.

BEAR MARKET: Russia’s peripheral reform

Bear Market Brief November 21, 2016

Russia’s economy is doing better. Though not in the sense that growth rates are set to return to their 2000s highs of between 7-8%. To get back there the country needs to privatise state owned enterprises and make some deep structural changes.

Russia's Watcom shopping index back at 2015 levels as consumption recovers

Ben Aris in Berlin November 18, 2016

The Russian shopping footfall index accelerated again in the 44th week of the year as consumer confidence gains pace and the public starts spending again amid a slew of gradually improving macro indicators.

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