Russia’s Central Bank is discussing with banks the reduction of the cost of servicing the locally-issued Mir (World) debit card for individuals to a level lower than that of international payment systems, Vedomosti writes citing the first deputy chairman of the Bank of Russia Olga Skorobogatova.
“We are conducting a...
The chairwoman of the upper house of Russia’s Parliament, Valentina Matvienko, is urging lawmakers to move quicker with several bills regulating cryptocurrencies, Cryptofeed.ru reported.
Matvienko has led Russia’s Federation Council since 2011 and recently spoke to officials, including some in the Ministry of Digital Development, Communications and Mass Media...
An increase in Russia’s value-added tax (VAT) from the beginning of this year has hurt Russian bakeries, along with a poor harvest, rising oil prices (leading to higher transport costs) and sanctions-pressured devalued ruble, Realnoe Vremya reports.
The cost of key ingredients like sugar and eggs grew by around...
Russian state gas producer Gazprom has raised two loans worth $1.06 billion from Japanese bank holding Mitsubishi UFJ and U.S. financial group Citibank, Interfax news agency reported on Thursday citing company data.
Gazprom raised the two four-year loans - 500 million euros from Mitsubishi UFJ, and 425 million euros from...
The Russian food service grew 5% in 2018, accelerating a positive trend from 2% in the previous year, analysts from U.S. market research company NPD Group say, according to Intellinews.
The most promising trends were demonstrated in the fast food category, which grew 13% y/y and accounted for 46% of...
Тhe world's largest palladium producer, Russia's Nornickel, said on Wednesday it would increase its output of palladium and nickel from Russian raw material in 2019, Finam.ru reports.
The company, part-owned by Russian tycoon Vladimir Potanin and aluminum giant Rusal, previously said it would ramp up output by 2025 to tap...
In the first eleven months of 2018, Russia produced 290.3 tons of gold, up from 284.95 tons in the same period in 2017, the country’s Finance Ministry said on Monday, according to Reuters.
Production for the period included 243.89 tons of mined gold compared with 235.49 tons a year ago,...
Cyprus’ financial sector remains overly reliant on illicit funds with links to Russia, despite efforts from authorities to clean up the country’s act, Financial crime experts have told a European Parliament committee, according to Payments Compliance.
Joshua Kirschenbaum, a senior fellow at the Alliance for Securing Democracy, told the parliament’s...
The Russian ruble was stable on Wednesday ahead of the country’s Finance Ministry bond auctions and a U.S. Federal Reserve board meeting, while stocks hovered near record highs days after Washington lifted some sanctions, Reuters reported.
At 0713 GMT, the rouble was 0.1 percent weaker against the dollar at 66.10...
Four rounds of new U.S. sanctions in Russia in 2018 have taken a toll on Russian M&A activity, which was almost flat in terms of value in 2018, totaling $22.8 billion across 153 transactions, compared to $23.1 billion (178 deals) in 2017, Intellinews reports citing data from Mergermarket.
The Russian situation...
