The sharp drop in oil prices and the following fall of the ruble to a four-year low pose no immediate risks to the Russian budget, but they may hurt already weak investment activity and thwart President Vladimir Putin's plans to raise living standards in the country, analysts told Reuters.
Since...
Russia's consumer safety watchdog Rospotrebnadzor recommended on Tuesday that people must avoid public transport, shopping malls, and other public premises during peak hour as a precaution to stem the coronavirus spread, RBC reports.
The watchdog recommended that the social gathering at events, sports, entertainment shows must be restricted, and all outdoor and...
Demand for long shelf-life products, household chemicals and personal hygiene items skyrocketed in Russia in February amid a global scare of the coronavirus, Vedomosti reports citing a number of retail networks and manufacturers.
Infoline Analytics Director General Mikhail Burmistrov says that coronavirus fears are the main reason for the growing demand. Many...
The ruble-denominated MOEX Russia index nosedived on Tuesday as trading opened on the Moscow Exchange for the first time after an oil price war waged by Saudi Arabia, the Moscow Times reports.
The MOEX index dropped by 10.4% to 2,436 points while the dollar-denominated RTS index fell by 16% to 1,056 points, the...
Global gold mine production growth is set to rebound in the coming years due to higher prices and mergers between major mining firms, pushing Russia, Australia, and Canada as major players to overtake China, research agency Fitch Solutions said in a report, according to MiningWeekly.com.
The analyst firm expects Russia to overtake...
As the freshly waged oil price war by Saudi Arabia against Russia threatens to turn into another serious challenge for Russia’s energy-based economy, the country’s authorities were quick to send messages reassuring they are up to the task, Daily Sabah writes.
While Russian markets were closed following International Women’s Day, the...
X5 Retail Group added around 1,245 new partners to its network of suppliers in Russia in 2019, the company said last week, according to Dairy News.
The retail giant aims to build long-term and mutually beneficial relationships with local producers through these partnerships. The move will help the company to expand...
The price of gold jumped past $1,700 per ounce on Monday for the first time since late 2012, as growing fears over the rapidly spreading coronavirus outbreak and a plunge in crude oil hammered equities and sent investors scurrying for safe havens, Reuters reported.
By 0054 GMT, spot gold rose...
The shares of some of Russia’s biggest companies collapsed on Monday, as the fallout from Moscow rejecting an oil production pact with Saudi Arabia rocks global financial markets, RIA Novosti reports.
Among the biggest losers were state-run lenders Sberbank and VTB, which both plunged by more than 20% when European markets opened. Another state-owned...
