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Russia Reduces Key Interest Rate To 11% – The Central Bank Says Economic Growth Is A Priority
The Central Bank of Russia (CBR) has cut the key interest rate from 11.5% to 11.0% citing growth as a priority. The rate cut is already the 5th consecutive one this year. Last Friday, the Central Bank of Russia (CBR) said in a statement the following: Major macroeconomic indicators demonstrate further economy cooling. The Bank of Russia estimates GDP decrease … Continue reading
BRICS: $100 Billion Liquidity Reserve Fund Comes Into Force
“The agreement on the BRICS $100 billion currency reserve pool came into force Thursday. The fund was set up by the developing nations group to protect their national currencies from volatility in global markets,” RT reports. “The arrangement is important not only because it provides the possibility to quickly obtain additional liquidity, but its very … Continue reading
China Postpones Deal On Russia’s Alati Gas Pipeline Due To Economic Slowdown
The signing of the gas supply contract with China via the Altai pipeline, known as Power of Siberia 2, is being postponed for an indefinite period, Vedomosti newspaper reports. The Russian news agency cited two federal officials explaining that China is reviewing its energy needs due to the economic slowdown. The move is a significant blow to Russia as back … Continue reading
Russia Overtakes China As Most Attractive BRICS Country For Investment
The Russian market has replaced China to become the most attractive BRICS country for investors in 2015, according to Bloomberg. Pricier oil that has rebounded from a six-year low and easing political risks make it the best BRICS investment bet. Analysts polled by Bloomberg say Russian shares are undervalued, by up to a half compared with … Continue reading
The U.S. Has “Shot Itself In The Foot” By Pushing Russia Closer To China, Jim Rogers Says
Jim Rogers, the Chairman of Rogers Holdings and Beeland Interests, says that the United States has hurt itself and “shot itself in the foot” by pushing Russia closer towards China during an interview with Russia’s Gazeta.ru newspaper. Rogers explained that it’s only a matter of time before Russia becomes a major partner in Asia, which would mean that the … Continue reading
Lawrence Solomon: Russia’s Grentrance
Originally posted on Financial Post:
If Greece leaves the eurozone, Russia will enter it, casting a chill over Europe The world is focused on the immense implications of a Grexit, or an exit of Greece from the European Union. It might also consider the immense implications of a Grentrance, or an entrance into Greece of…
Why Are Chinese Companies Going Abroad?
Originally posted on Frontier Market Strategy:
We know Chinese firms are expanding overseas at an unprecedented rate, but what is driving them them to do so? It is well established that Chinese companies are investing abroad in ever greater numbers, but many would question the reasoning for this when China remains a booming market, enjoying…
Russia’s Economic Recovery Faces A Reality Check
By Chris Weafer of Macro-Advisory After a relatively positive performance for Russia’s economy in the first quarter, the second quarter has brought more of a reality check, with sharply lower numbers across many categories reported in April and May. The preliminary GDP estimate for April shows a contraction of 4.2% year on year, after a more … Continue reading
NATO To Evaluate Nuclear Threats From Russia
Originally posted on Peace and Freedom:
NATO Defense ministers meeting in Brussels face renewed vocal threats from an assertive Kremlin A Russian Yars RS-24 intercontinental ballistic-missile system drives during the Victory Day military parade in Moscow on May 9, 2015. Russian President Vladimir Putin said last week he’s adding 40 inter-continental ballistic missiles to Russia’s arsenal.…
Russia’s St. Petersburg International Economic Forum Sees Contracts Worth $5.4 Billion
The number of contracts signed during the International Economic Forum in St. Petersburg in Russia completely refutes the picture of Russia’s economic isolation as 205 deals estimated at $5.4 billion were signed. Let’s look at the numbers closer to get a better overview of the forum. 2015 205 contracts valued at around $5.4 billion vs. 2014 … Continue reading
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