EMerging Equity
Russian economy
Investors Flee Russia As Recession Deepens Due To Plummeting Oil Prices
The persistent decline in oil prices that keeps pressure on the Russian ruble will further deepen the recession of the Russian economy, Moody’s reports. According to the rating agency the Russian economy is in a recession and if the current macroeconomic and geopolitical situation doesn’t change soon, especially with respect of oil prices and the country’s … Continue reading
Russia Cuts US Debt Holding By More Than 40% Over Year
Russia held US Treasury bills worth $66.5 billion as of April this year, according to the latest monthly report from the US Treasury. That compares with the $116.4 billion held a year ago. From March to April 2015, Russia sold $3.4 billion in US Treasury bonds, reported US Department of the Treasury Monday. Since August 2014, … Continue reading
Russia’s Central Bank Unexpectedly Slashes Rate To 15%, Ruble Reels
The Russian Central Bank has cut its key interest rate to 15 percent from 17 percent due to the ‘shift in the balance of risks of accelerated consumer price growth and cooling economy,’ according to a statement from the regulator. The 200 basis point cut comes a month and a half after the bank raised … Continue reading
PayPal, Google Join Apple In Crimea Exodus
The newest part of the Russian Federation, the Crimea peninsula is now cut off from PayPal and Google products and services, as sanctions forbid US companies from providing services to the region. “Unfortunately, currently we are not able to provide our services to the clients in Crimea. We apologize for any related inconveniences,” a PayPal … Continue reading
Russian Central Bank Voids Standard & Poor’s, Moody’s, Fitch Ratings
The Central Bank of Russia will no longer use credit ratings from Standard & Poor’s, Fitch, or Moody’s that were assigned after March 1, 2014. All credit ratings given to Russian companies and banks will now be at the discretion of the Board of Directors of the Bank, according to a press statement Monday. The … Continue reading
World’s 400 Richest Get Richer, Adding $92bn In 2014
The 400 richest billionaires in the world added another $92 billion to their names in 2014 and now sit on assets worth $4.1 trillion, but Russia’s super-wealthy have been hit by economic problems resulting from the Ukraine crisis. The biggest winner in 2014 was China’s Jack Ma, who co-founded the Alibaba Group Holding ltd, (BABA), … Continue reading
Russia’s Banks Struggle As Sanctions Bite
By BNEÂ IntelliNews Profits are tumbling amongst Russia’s leading banks as the financial sanctions imposed by the West really begin to bite. Almost all of Russia’s retail-orientated banks are currently losing money and 170 of 828 banks were in the red in October 2014, according to the Central Bank of Russia (CBR). The bad news is … Continue reading
Russian Economy May Lose Up To $140 Billion Because Of Oil Prices And Sanctions
Russian economy may lose $40 billion because of Western sanctions and 90-100 billion dollars more because of declining oil prices, Finance Minister Anton Siluanov said at the International Financial and Economic Forum. “What do we have in terms of economy? We lose about 40 billion dollars a year because of political sanctions and we can … Continue reading
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