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30 June 09
VTB Group may lay off as many as 1,000 employees at its retail banking operations as overdue loans threaten to reach 8 percent of its portfolio, executives said Monday at the annual shareholders meeting.
29 June 09
The MICEX and the dollar-denominated RTS, which was touted at the beginning of the month as the world's best-performing equity index, and are again in bear territory.
25 June 09
Russia's population of wealthy people fell 28.5 percent last year, nearly twice the fall experienced by the global population as a whole, Merrill Lynch and Capgemini Group said in a report released Wednesday.
18 June 09
And businesses who were hoping for a tax break are unlikely to get one.
15 June 09
Trailing behind its emerging market peers in terms of capital inflows and facing a sharp economic contraction at a time when China and India are continuing to see growth, Russia is having a hard time making the case that fundamentals are driving its market rally and that it has the financial architecture to sustain these gains much longer.
11 June 09
A Tyumen court said Wednesday that it would postpone an appeal hearing on a $1.7 billion fine against Telenor at the request of the plaintiff, Farimex Products.
10 June 09
HSBC will open five retail branches in Russia this month as part of a $200 million program to expand its local operations, bank executives announced Tuesday at a news conference marking the first branch's opening.
08 June 09
It’s tough to play an unpredictable market, even one that most would agree is in need of a correction.
05 June 09
It seems like only a few months ago investors were complaining that they didn't hear enough from the government on its crisis views. Now, it seems they are hearing a little too much.
05 June 09
Rosselkhozbank is set to issue the first eurobond by a Russian bank since last summer, but the agricultural bank isn't the only corporate taking a dip back into the once-frozen bond markets.
04 June 09
The Deposit Insurance Agency outlined the new structure of failed bank KIT Finance on Wednesday, heavily relying on Russian Railways and TransFinCapital to rehabilitate the brokerage -- one of the first victims of the financial crisis last October.
03 June 09
For a country whose markets were among the worst hit last fall, the 13th annual St. Petersburg International Economic Forum, it seems, couldn't be coming at a better time.
02 June 09
Moody’s says that banks need $40 billion to recapitalize in 2009.
01 June 09
This year’s federal budget, which only recently appeared doomed to an ugly 8 percent deficit, is beginning to look a lot healthier thanks to spiraling inflation, a weakened currency and a surge of optimism.
29 May 09
VimpelCom reported a first-quarter net loss of 8.5 billion rubles ($273 million) because of heavy exchange rate losses, the country's second-largest mobile provider said Thursday.
28 May 09
Hotel occupancy in the first quarter was down about 15 percentage points from the same period last year.
27 May 09
Things have not been easy for Nizhny Novgorod, the region responsible for producing more than half the country’s trucks and more than 60 percent of its buses.
25 May 09
Things are looking up for Russia's platinum producers as prices for the precious metal have started to reclaim pre-October levels thanks to new demand from investors and China's growing jewelry market.
22 May 09
Black Sea countries will discuss creating a regional ""grain pool"" when 40 country delegations meet at the World Grain Forum in St. Petersburg next month, First Deputy Prime Minister Viktor Zubkov said Thursday.
21 May 09
Banks may need an additional 500 billion rubles ($16 billion) in capital this year to weather an increase in bad loans, a Central Bank official said Wednesday.
20 May 09
Breaking his silence over Telenor's troubles, Prime Minister Vladimir Putin expressed disappointment Tuesday that the Norwegian company had been unable to agree on an expansion plan with Alfa Group and insisted that the rule of law would prevail in a related court dispute.
19 May 09
More and more Russians have the means and desire to purchase their own homes, but in order for that to happen the government needs to boost demand and increase access to affordable housing, the Regional Development Ministry said.
18 May 09
All good things must come to an end, and that end might come sooner rather than later for a recent rally on the global equity markets.
14 May 09
The MICEX Stock Exchange is gaining back some of its lost trading volume after a brutal autumn in which market conditions pushed the trading of many Russian securities onto the London Stock Exchange, Federal Service for Financial Market head Vladimir Milovidov said Wednesday.
04 May 09
During the ongoing economic crisis, the outbreak of a global flu epidemic would seem to be all it would take to put the nail in the world economy's coffin.
30 April 09
Sistema, billionaire Vladimir Yevtushenkov's holding company, reported a fourth-quarter net loss of $713.9 million, compared to a profit of $467 million in the same period the year before, after a fall in the value of the ruble drove down revenues.
29 April 09
Uralkali said Tuesday that 2008 profit rose 172 percent year on year to 21.9 billion rubles ($653 million), despite waning demand for its potash fertilizer in the fourth quarter.
27 April 09
When the contracts are finalized, Russian producers may see their exports to Asia replaced by local suppliers.
24 April 09
The Central Bank announced Thursday that it would cut its key refinancing rate to 12.5 percent from 13 percent as the government grows more confident that it has brought inflation and the volatile ruble under control.
21 April 09
The company will offer more free services to students and startups.
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