Russia
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CBR cuts key rate by 25 bp to 7.5% per annum -- the first cut since March 2018
The Central Bank of Russia cut its key rate for the first time since March 2018, as the annual inflation slowdown continues.
Russia’s stock market puts in its best performance in a decade, gains 26% YTD
Russia’s leading dollar denominated Russia Trading System (RTS) has surged by just over a quarter YTD as of June 14. Stocks are now trading at a levels above where they were when sanctions were imposed following the annexation of Crimea in 2014.
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Russia's Fx/gold reserves tops $500bn for the first time in five years
The foreign currency and gold reserves of the Central Bank of Russia (CBR) amounted to $502.7bn as of end of the week of June 14, the data by the regulator shows.
Russia's current account surplus at $49bn, capital outflow doubles as of May
Russia's current account of the balance of payments posted a surplus of $48.7bn in January-May 2019, expanding by $1.8bn year-on-year, according to the preliminary data by the Central Bank of Russia (CBR)
Russia's Sberbank to acquire 25% in Muslim charity platform PayZakat
Russia's largest bank state-controlled Sberbank will acquire 25% of PayZakat platform that collects charity for Muslims in need
Quant funds keeping It simple and effective
Yesterday’s quantitative investing has become today’s algorithmic trading, which has become more and more complicated. The best way to make these funds grow is to keep them simple
Russian investigative reporter Ivan Golunov arrested and charged with drug dealing
Russian investigative reporter Ivan Golunov was arrested and charged with dealing drugs at the weekend in what his colleagues claim was retribution for his journalistic work that hurt business interests.
Growth of Russia's pirate content traffic declines again in 2018
Piracy is actively being rooted out in Russia, the second biggest consumer of digital pirated content in the world.
Major energy, tech and agro deals signed at Russian SPIEF 2019
Russia and China account for almost half of the 650 deals worth RUB3.1 trillion announced at SPIEF
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US hands Turkey Russian missiles ultimatum
Crucially, however, its deadline falls one week after the Istanbul revote seen as another referendum on Erdogan and test of what remains of Turkish democracy.
The US has been isolated by Russia and China, says Russian President Putin at SPIEF
“The US is isolated by Russia and China.” The leaders of both countries are actively building a new economic alliances with the other emerging markets — but the OPEC+ deal is in danger.
German DEG and Da Vinci Capital invest in DataArt
German development finance institution DEG announced in June it provided equity funding to DataArt, a leading global developer of complex IT solutions
Russian medical insurance startup attracts $3mn for international expansion
Russian medical insurance startup attracts $3mn for international expansion
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Russian car sales plunge 7% in May
Sales of new passenger cars and light commercial vehicles (LCVs) in Russia decreased by 6.7% in May 2019 to 0.138mn units, the latest report by AEB Automobile Manufacturers Committee (AEB AMC) shows. In January-May overall the market declined by 2.2%
Russia’s services PMI growth slows to a three-year low
The wind has gone out of Russia’s service sector that has been the one vibrant part of the real economy for the last few years, dragged down by stagnant real income growth and the miasma that is lying over the retail sector.
ALACO DISPATCHES: US trails Russia and China in Arctic race
Washington exercised by its rivals’ rapid progress in harnessing the Arctic region’s resources and navigation potential as a new ‘Great Game’ starts to emerge.
BCS Global Markets was voted the best Russia-focused independent investment house in the Extel Survey
The up and coming dealer/broker is relatively new to the Russian investment banking scene, but has expanded rapidly in the last few years.
King of the castle: Gazprom overtakes Sberbank to become Russia’s most valuable company
The shares in state-owned gas giant Gazprom jumped again, rising by 10% in a day to make it Russia’s most valuable company worth $82bn as rumours of the imminent departure of CEO Alexi Miller swirled in Moscow.
Druzhba pipeline problems cut Russia's oil exports by 3.2%, output by 1.1%
The ongoing troubles with contaminated Russian oil in the Druzhba pipeline and Ust-Luga port have cut Russia's oil exports by 3.22% in May as compared to April, while oil output declined by 1.1%.
The Central Bank of Russia is worried about a potential housing bubble
The CBR will act to cool the mortgage market, but market participants think the regulator is being overly cautious.