Russian small and medium-sized businesses have borrowed a total of around $4 billion rubles ($51.6 million) from banks in interest-free loans intended to support employment amid the coronavirus crisis, the Ministry of Economic Development said Wednesday, according to Kommersant.
"According to monitoring data for 15 banks that have signed an...
The head of Sberbank, Herman Gref, said in an interview on Tuesday that he doesn’t expect Russian banks to be seriously affected by the coronavirus lockdowns.
The CEO of the country’s biggest lender added, however, that Russia’s economy is expected to contract progressively, with stress tests by Sberbank showing GDP...
This month, SME Bank (part of VEB.RF group), started issuing interest-free loans to SMEs to pay their employees' salaries as a part of government support measures for businesses affected by the spread of coronavirus COVID-19.
The new loan product for SMEs is aimed at urgent needs to support and preserve...
The Moscow Exchange said on Monday it would suspend trading in West Texas Intermediate (WTI) May oil futures contracts, set to expire on Tuesday (April 21), following the record-breaking crash on Monday, RIA Novosti reports.
The Moscow Exchange "suspends trading in the contract for Light Sweet Crude Oil (contract CL-4.20)...
Before the government began imposing lockdowns in Russia as a result of the coronavirus crisis, the country’s citizens stockpiled a large amount of cash, Bloomberg reports citing data from the Bank of Russia.
Since the beginning of March, Russians withdrew about 1 trillion rubles ($13.6 billion) from ATMs and bank...
As Moscow enters the third week of a strict lockdown imposed to curb the spread of the coronavirus, a businessman from the Russian capital was tired of being stuck at home and decided to temporarily switch to the low-paid but physically active job of delivering meals, The Associated Press...
By the end of 2020, about 7 trillion rubles will remain in the National Welfare Fund (NWF), said Finance Minister Anton Siluanov. As of April 1, the volume of the NWF was 12 trillion 855 billion, Kommersant reported.
“Taking into account all the expenses of the current year, at the...
The capabilities of the new cold store by global shipping giant Maersk in St. Petersburg are operational and ready to serve the needs of a high-demand Russian market, the company said this week, nine months after it started building the new facility.
In the near future the cold store will...
The head of the Bank of Russia has given her strongest hint yet that the regulator will cut interest rates to help the economy weather the coronavirus pandemic, Bloomberg informs.
At a press conference Friday, governor Elvira Nabiullina said “we will already be able to substantively consider the issue of reducing the...
Almost no foreign direct investment (FDI) entered Russia in the first quarter of this year, compared to the $10.3 billion foreign companies invested in the country in the same period last year, the Bank of Russia said this week, according to bne Intellinews.
This $200 million in FDI in January-March...
