Kudrin Exhorts Graduates
The country is suffering from a shortage of “diligent” and “honest” people to work in companies and ministries, Finance Minister Alexei Kudrin said Monday.
“Today we need top-flight, well-educated specialists,” Kudrin told graduates of the Finance Ministry’s Budget and Treasury Academy, according to comments posted on the ministry’s web site. “The Finance Ministry, the treasury, the tax service, major companies are feeling the deficit of specialists. We lure the best ones from each other.” (Bloomberg)
Net Capital Inflows in Q2
Russia had a net capital inflow in the second quarter after a net outflow of $34.8 billion in the previous three months, the Central Bank said on its web site Monday.
Net capital inflow was $7.2 billion in the period versus an inflow of $40.7 billion in the same period last year, the Central Bank said. (Bloomberg)
Ministry Predicts Less Grain
Farmers will harvest 85 million tons of grain in the marketing year that started July 1, 5.6 percent less than previously forecast, after drought damaged spring crops, the Agriculture Ministry said Monday.
The ministry forecast a grain crop of 90 million tons on May 30, down from last year’s harvest of 108.1 million tons. (Bloomberg)
Kangaroo Meat Banned
Russia imposed on a temporary ban on imports of Australian kangaroo meat and also barred beef and pork from five plants in the Pacific Ocean country, a spokesman from Rosselkhoznadzor said Monday.
The bans were put in place after several cases of bacterial contamination, the spokesman said. Further information was requested from Australian officials during talks at the country’s embassy in Moscow on June 3, he said. (Bloomberg)
Currency Reserves Increase
Foreign currency reserves rose last month to the highest level since December after capital inflows resumed in June and crude oil prices rallied, the Central Bank said Monday.
The world’s third-largest stockpile behind Japan and China added $8.4 billion to $412.6 billion through the end of June after the holdings jumped $20.3 billion to $404.2 billion a month earlier, the Central Bank said.(Bloomberg)
RusHydro Boss Buys Stock
Vasily Zubakin, chief executive officer of RusHydro, plans to buy 1.95 million shares in the company this month, Vedomosti reported Monday.
The purchase price was set at 1 ruble apiece ($0.03) by the RusHydro board in March, the newspaper said, citing RusHydro documents for a London listing. (Bloomberg)
Grain Shipments May Rise
Rail cargoes of grain exports may rise 16 percent in the marketing year that began July 1, transport company Rusagrotrans said Monday in an e-mailed statement.
Shipments may rise to 11 million tons, from 9.5 million tons a year before, the carrier said. Russia may harvest as much as 98 million tons this season and export 23 million tons, it said. (Bloomberg)
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