Despite U.S. sanctions, Russian OFZ bonds are proving attractive to foreign investors, who bought Russian bonds of a record-high value in January, according to a report by the Bank of Russia on liquidity in the banking sector.
Non-residents increased their investments in OFZs by 55 billion rubles ($836.5 million),...
Russian florists, restaurant owners, entertainment industry companies and other businesses are looking forward to another profitable Valentine’s Day as the love-celebrating holiday continues to gain popularity among Russians, Rossiyskaya Gazeta writes.
Some companies celebrate the holiday on a large scale, the report says. Where once a post box for valentines...
Yandex.Drive, a car-sharing venture set up last year by Russian internet giant Yandex, has flooded the Russian capital with more than 7,000 cars to rent for as little as 5 rubles (8 cents) per minute, including fuel, maintenance and parking, The National reports.
That compares to 41 cents a minute...
The European Union and the United States are close to an agreement on new sanctions against Russia following the capture of 24 Ukrainian sailors off the coast of Crimea late last year, The Financial Times reports.
According to sources in Brussels, the EU and U.S. are understood to be coordinating...
German reinsurer Munich Re has announced that it plans to sell the Russian non-life re/insurance business of its ERGO International division to Moscow-based insurer RESO-Garantia, Reuters reported.
Under the purchase agreement, which was signed by representatives from both parties, RESO-Garantia will acquire 100% of the shares in the ERGO unit...
Russia’s high economic growth in 2018 was fueled by one-off factors that mean the goals set by President Vladimir Putin won’t be achieved without an increase in household incomes, the country’s Ministry of Economic Development has said in its first comments on last year’s economic results, according to RBC.
After...
British digital bank Revolut has been targeted by Lithuanian lawmaker Stasys Jakeliunas over alleged links to Russia during its process to secure an EU banking license in the country, The Telegraph reports.
Revolut was granted a European Banking License in Lithuania in December but has since faced claims of interfering...
UK-based footwear and apparel company Reebok has announced that the company’s Russian marketing director Alexander Golofast is no longer employed by Reebok following the botching of the Russian version of its #bemorehumam ad campaign, RBC reports.
Earlier, the company found itself in an embarrassing situation after an ad campaign aimed...
Three sources familiar with new calculations being prepared for Russia’s central bank have told Reuters that the country will dramatically cut its estimate of the sum it expects to recover from a “bad bank” set up after the collapse of three major lenders.
Since 2017, the Bank of Russia has...
A 71% increase in the price of shares in Rusal, the world’s second-largest aluminum producer, since the beginning of the year is not the end of the upward trend for the company, analysts told the South China Morning Post.
The Rusal share began climbing after the United States signaled its...
