EMerging Equity
Rouble
Growing The Russia-China New Relationship
By F. William Engdahl While the Obama Administration is preoccupied with keeping an increasingly unhappy EU firm on further economic sanctions against Vladimir Putin’s Russia, Putin is busy outflanking an increasingly desperate Washington. Rather than fixate on the deliberate US and NATO provocations in Ukraine, Russia is deepening its strategic ties with the other Great Eurasian … Continue reading
Russian GDP To Fall 3%, Inflation To Rise To 12%, Capital Outflows At $115B In 2015 – Economy Ministry
By Sputnik Russia’s Ministry of Economic Development has revised economic forecast for 2015 and expects country’s gross domestic product (GPD) to shrink by three percent and inflation to hit 12 percent with oil prices at $50 a barrel, the ministry’s head said Saturday. “We have issued a forecast for 2015, which is based on the current market prices, that is around $50 per … Continue reading
Russia Says Has Enough Reserves To Ensure Anti-Crisis Plan Implementation
. The state has enough reserves to ensure the implementation of the government’s anti-crisis plan, State Duma Speaker Sergey Naryshkin said on Friday. “The state has enough resources and budget reserves to ensure the full implementation of the government-proposed anti-crisis plan,” Naryshkin said before the Duma meeting, at which First Deputy Prime Minister Igor Shuvalov … Continue reading
Russia’s Anti-Crisis Plans: Where The Billions Will Go
As Russian Prime Minister Dmitry Medvedev signed a one-year anti-crisis plan worth at least $35 billion, RT takes a look at the main steps Moscow will take to stabilize the slowing economy. The new plan approved by President Vladimir Putin on Tuesday and signed by Prime Minister Dmitry Medvedev Wednesday includes 60 measures aimed at … Continue reading
20% Of Russian Banks Could Collapse In 2015, Vedomosti Says
Russia’s banking sector faces significant challenges in 2015 as an economic crisis broadens which may lead to nearly 20% of its banks collapsing this year, Russian business daily Vedomosti reported on Tuesday, citing Russian think tank the Center for Macroeconomic Analysis and Short-Term Forecasting (CMASF). This year, over 200 Russian banks could collapse due to a combination of bad loans and the … Continue reading
Russia’s Rosneft Says It Can Weather $30 Oil
Plunging oil prices, even as low as $30 per barrel, won’t offset the world’s largest-listed oil company, Rosneft’s investment and development plans, according to the company’s VP. “The company can weather $30 per barrel prices, but problems with the Russian budget will arise,” Rosneft Vice president Viktor Ishayev told reporters at a press conference in Khabarovsk. … Continue reading
Banking Crisis In Russia Will Be Massive — Sberbank CEO
The banking crisis in Russia in the current economic situation will be massive, CEO of Russia’s largest lender Sberbank German Gref said on Wednesday. “Of course, it’s obvious that the banking crisis will be most massive,” he said on the sidelines of the annual Gaidar Forum. Since mid-2014 Russian banks have publicly announced they are … Continue reading
MasterCard To Process Payments Through Russia’s Localized System
MasterCard will process payments across Russia through the country’s new National Payment System, as Russia is stepping up efforts to make its financial network more independent from the West. Russia’s National Payment System and MasterCard signed an agreement on December 30, the Central Bank of Russia said in a statement on Monday. This means MasterCard … Continue reading
More Pain Lies Ahead For Russia As S&P Downgrade To Junk Status Seen Likely
More pain may lie ahead for Russia in the short term as the nation’s sovereign credit rating is on the horizon of being downgraded into junk territory for the first time in over a decade. On Friday, Fitch Ratings downgraded Russia’s sovereign rating to ‘BBB-‘ (from BBB) – which happens to be the lowest investment grade … Continue reading
Russia And China: The Dawning Of A New Monetary System?
By Peter Koenig The statement by Chinese Foreign Minister Wang Yi on 22 December 2014: “If the Russian side needs it, we will provide necessary assistance within our capacity” – is a clear testimony that Russia and China have entered into an economic alliance which will be stronger than the incessant ruble and petrol devaluation manipulations by … Continue reading
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