Russia
STOLYPIN: Coronavirus and Kremlin stressing Russia’s elite social contract
To some, under the influence of the COVID-19 pandemic, Vladimir Putin’s much-vaunted ‘power vertical’ is rotating, turning on its head. Power has shifted from the centre to the regions
Russia’s services PMI up slightly m/m in May, but contraction this year is significant
The IHS Markit Russia Services Purchasing Index (PMI) was up slightly to 36.2 in May from 31.3 in April, but still well below the 50 no-change mark, as the services sector has been crushed by the coronacrisis.
Malta seizes $1.1bn worth of “counterfeit” Libyan dinars printed by Russian state-owned company
The US State Department has announced that Malta seized $1.1bn worth of “counterfeit” Libyan dinars that were travelling by ship to the Libyan parallel government and were printed by the Russian state-owned company Goznak.
Customs officials confiscate 70 tonnes of fine cheese smuggled into Russia from the EU
Russian authorities confiscated 70 tonnes of fine European cheeses smuggled into the country in a container and mislabelled as industrial rubber for use in the construction industry.
Trump postpones G7 summit in US, invites Russia to attend
US President Donald Trump has postponed a planned G7 summit slated to happen in June, but has invited Russia to attend the rescheduled meeting in September in New York.
LONG READ: The Growers - a handful of countries in New Europe are coping with the coronacrisis and are still expanding
Gold-exporting Uzbekistan has the emerging Europe region's best shot at achieving positive GDP growth this year. Other economies managed to expand in Q1 but will be pushed into full-year contractions.
Russia's Sberbank opens a commodity trading subsidiary in Zug in Switzerland
Sber Trading Swiss AG based in Zug, Switzerland, will become the main hub of Sberbank's international physical commodity trading business
New coronavirus cases decline across emerging Europe but the epidemic’s not over yet
Steady growth in new cases in several countries despite easing of lockdowns, numbers pushed up by outbreaks at industrial plants.
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For first time Turkey’s LNG imports outstrip pipeline gas imports
Gas delivered via pipelines from Russia and Iran down 72% y/y and 33% y/y in March. US expanding shipments of liquefied natural gas amid glut as spot prices fall.
A third of Russians believe that the danger of the coronavirus epidemic is exaggerated or a fiction
A third of Russians (32.8%) believe that the danger of the coronavirus epidemic is exaggerated, or they consider it to be an invention of interested parties, according to a study conducted by the Higher School of Economics (HSE).
Russia’s VTB trapped in a London lockdown until 2024
Russians state-owned banking giant VTB is trapped in an expensive lease for its European headquarters in London for another four years even as the Kremlin-controlled lender builds up a new investment base in Frankfurt, bne IntelliNews can reveal.
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Russian retail sales down by a quarter year on year in April, as unemployment soars
Russia’s April lockdown hit the statistics this week, after Rosstat reported that retail sales were down a massive 23.4% year on year and unemployment almost doubled in the month, the state statistics agency said on May 27.
Russian policy veteran Kudrin urges seizing of the COVID moment for visionary reform
The head of Russia's Audit Chamber Alexei Kudrin has published an oped laying out his vision of the state anti-crisis policy amid the coronavirus epidemic.
Russia's Yandex.Taxi's IPO still on, as it struggles to stay profitable
Yandex.Taxi, the ride-hailing arm of Russian online giant Yandex, is pushing ahead with its plans to organise its highly anticipated initial public offering (IPO), while struggling to remain profitable despite the crisis
Russia's IT segment looks at losses in Q2
Hit by the coronavirus (COVID-19) crisis and lockdown measures aimed at curbing the pandemic, the Russian IT segment expects losses in the April-June period, unless support measures are offered by the government.
Russia’s leading petrochemical company Sibur raises $208mn with bonds issue at record low yields
Russia’s leading petrochemical producer Sibur Holding successfully closed the order book for its BO-01 and BO-02 exchange-traded bond issues, worth RUB10bn ($139mn) and RUB5bn ($69mn) respectively, the company announced on May 21.
Chechen strongman Kadyrov admitted to hospital with coronavirus
The leader of Chechnya and one of the most controversial figures in Russian politics, Ramzan Kadyrov, has reportedly been admitted to “one of the best hospitals in Moscow” after he was believed to be infected with the coronavirus
Russian OFZs are an Emerging Markets investor's safe haven
Russia has emerged as a safe haven for investors during the coronavirus (COVID-19) pandemic that has rocked capital markets around the world, according to a paper from the Institute of International Finance (IIF).
Moscow wounded by the coronavirus epidemic, but best prepared to weather the storm
More than half of all Russia’s 300,000-plus registered cases of coronavirus infections are in Moscow, making it the epicentre of the Russian epidemic. But its size and wealth makes it the best able to cope with the crisis.