Russia

Russia's personal bankruptcies double in 1H21 as moratorium runs out

bne IntelliNews July 8, 2021

As the moratorium on personal bankruptcies that was introduced at the peak of the COVID pandemic expired, the number of personal bankruptcies in Russia more than doubled in 1H21

wiiw raises its GDP forecast for 20 out of 23 countries in CEE

bne IntelliNews July 8, 2021

The Vienna Institute for International Economic Studies has raised its GDP growth forecasts for 20 out of 23 countries in Central and Eastern Europe as the coronavirus (COVID-19) pandemic starts to recede.

Belarus sentences presidential candidate Babariko to 14 years in jail

bne IntelliNews July 7, 2021

A Belarusian court sentenced presidential candidate Viktor Babariko to 14 years in jail on what are widely seen as politically motivated embezzlement charges.

Russia's car sales jump by 37% in 1H21

bne IntelliNews July 7, 2021

The sales of cars and light commercial vehicles in Russia in June increased by 28% year-on-year to 0.158mn units, according to the report from the AEB Automobile Manufacturers Committee.

bneGREEN: What is green?

bne IntelliNews July 6, 2021

Defining green energy and indeed green investments is not an exact science, Determining just how green each of the various energy sources are gets complicated once you start digging into the details.

ING: OPEC+ fails to come to a deal

Warren Patterson ING’s Head of Commodities Strategy July 6, 2021

The standoff between the UAE and the rest of OPEC+ continues, with Monday’s meeting cancelled. In theory this means that OPEC+ output will remain unchanged in August, which would be bullish for prices in the short term.

COMMENT: Russian 'Jackson Hole' macro takeaways: monetary policy is put under review

Artem Zaigrin Chief Economist at Sova Capital July 6, 2021

The International Financial Congress was held by Central Bank of Russia (CBR) on June 28 –July 2. The conference was designed to discuss and reshape policies in the medium term.

More upside seen in shares of Russian banking TCS Group

bne IntelliNews July 6, 2021

Sberbank CIB analysts still see a "decent upside" in the shares of Russian banking group TCS, even though they have tripled in value in the last two years.

FSUOGM: Gazprom sends record volumes to Europe

bne IntelliNews July 6, 2021

Russia’s Gazprom exported record volumes of gas to Europe during the first half of the year, despite recent claims in the press that the company has been withholding supply to jack up prices.

Kremlin talks with Tashkent and Dushanbe as concerns over Afghanistan instability grow

Ben Aris in Berlin July 6, 2021

Russian President Vladimir Putin talked with Uzbek President Shavkat Mirziyoyev and Tajik President Emomali Rahmon by phone on June 5 as the leaders become increasingly concerned with the fighting that has broken out in Afghanistan.

Russia’s Softline global software reseller and services company goes global

Ben Aris in Berlin July 5, 2021

Set up in Russia in 1993 to resell software to the growing market, in 2000 the company decided to diversify and today is present in 55 countries and did $1.8bn worth of business last year.

Russia’s services PMI stutters as recovery runs into inflation headwind

bne IntelliNews July 5, 2021

Russia’s seasonally adjusted IHS Markit Russia Services Business Activity Index registered 56.5 in June, down from 57.5 in May, but still well above the 50 no-change mark, as services continue to recover from last year’s annus horribilis.

COMMENT: Striking a balance in the global energy transition

Karin Kneissl former Minister of Foreign Affairs of Austria and an independent member of the board of directors of Rosneft July 5, 2021

As oil prices rise to their highest level in almost three years, OPEC and its partners are discussing a deal to increase production. Abandoning fossil fuels is a hot topic, but like it or not, oil remains the world’s most important commodity.

Russia frets about ISIS in Afghanistan, Central Asia looks sanguine

Euurasianet July 5, 2021

Russia says it is worried that the Islamic State is gaining strength apace in northern Afghanistan. The United States looks to be bracing itself for a collapsing Afghanistan. But Central Asian states neighbouring Afghanistan are much more sanguine.

Inflation expectations amongst Russia’s most vulnerable citizens ticks up to 12.9%

bne IntelliNews July 4, 2021

Inflation expectations among Russians have been high since the start of this year – more than double the actual rate of inflation – but expectations among Russia's most vulnerable are double the CBR's estimate.

ING: Russia’s faster inflation, stronger activity, harsher monetary policy

bne IntelliNews July 2, 2021

The new spike of inflation in June to 6.4-6.5% year on year combined with stronger-than-expected activity in 5M21 has reinforced the CBR's hawkish stance. We raise our CPI, GDP and key rate forecasts for this year, expecting a 75bp key rate hike.

CONFERENCE CALL: Economists warn over inflation and rising debt

Clare Nuttall in Glasgow July 1, 2021

As the world starts to emerge from the Coronacrisis, economists on an EBRD panel warned over rising inflation, debt and the uneven recovery from the crisis, with emerging markets and developing economies lagging behind their richer peers.

Russia’s manufacturing PMI contracts for the first time in 2021 on fresh coronavirus pandemic wave

bne IntelliNews July 1, 2021

Russia’s strong economic recovery from last year’s crisis spluttered in June after soaring producer prices caused the manufacturing PMI to shrink for the first time this year.

Russian game maker Nexters upgrades financial forecasts for 2021 ahead of Nasdaq listing later this year

bne IntelliNews July 1, 2021

Nexters, best known for its game “Hero Wars”, upgraded its financial outlook from existing and new titles in 2021.

Russia’s current account surplus extended gains in May to reach $35.8bn, reserves at all-time high of $605bn

bne IntelliNews July 1, 2021

Russia’s current account surplus extended gains in May to reach $35.8bn, according to the Central Bank of Russia (CBR). International foreign exchange reserves hit an all-time of $605bn as of the start of June.

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