The Russia-hosted 2018 FIFA World Cup and the run-up to the soccer event have brought in an extra 952 billion rubles ($14.5 billion) to Russia’s national budget, 10% more than planned, and a sum equivalent of about 1% of the country’s GDP, Vedomosti writes citing data provided by the...
German company ERGO Group AG, which is part of reinsurance giant Munich Re, has sold its life insurance business in Russia, according to RBC.
ERGO said it has signed a purchase agreement with buyer Rosgosstrakh, Russia's largest insurance company. The price of the deal was not disclosed. The Russian company...
European Union sanctions against Russia are damaging Italian businesses, Italy’s Prime Minister Giuseppe Conte said Tuesday, underscoring growing unhappiness in Rome over the measures, The Moscow Times reports.
EU leaders imposed sanctions in 2014 to penalize Russia for annexing Crimea from Ukraine and backing rebels fighting government troops in...
This week, VTB Bank may receive a stake in TransContainer, Russia’s largest freight transport company, owned by FESCO (25.07%), two sources close to FESCO and TransContainer shareholders have told Vedomosti. The bank will receive the package for debts and then VTB will sell it to its strategic partner, the...
Russia may decide not to issue Eurobonds at all in 2019, deputy finance minister Sergei Storchak has said, according to TASS news agency.
"Yes, this is an option. We have the option of not coming out onto the market," the official said, speaking to reporters on the sidelines of a...
The administration of U.S. President Donald Trump is drafting a strategy allowing to impose sanctions against Russian and Iranian companies involved in post-war reconstruction in Syria, NBC News reported citing sources "familiar with the plan."
According to the sources, the strategy "would emphasize political and diplomatic efforts to force Iran...
Russia can become one of the world’s leaders in the digital economy if it uses the right strategy for the development of its key industries, a report by the World Bank titled "Competition in the Digital Era: Strategic Challenges for the Russian Federation" says, according to RIA news agency.
Meanwhile, Russian business...
Russian President Vladimir Putin said at a meeting with Bank of Russia officials on Tuesday that his country is financially stable despite U.S. and EU sanctions, with higher reserves and falling dependence on oil being the key factors, TASS news agency reports.
“The financial market remains stable. That is thanks to...
Тhe owner of Renova Group, Russian billionaire Viktor Vekselberg, intends to challenge the sanctions imposed on him and his companies by U.S. authorities, RBC reports.
“My stance is simple: the sanctions are unlawful and unfair and I’m going to challenge them,” Vekselberg told reporters when asked if he was negotiating with the...
Client deposits from Russia in Cypriot banks have dropped 37 percent, and now represent less than 6 percent of the total amount of deposits in the country’s banks, the Association of Cypriot Banks have said in a letter to EUobserver.
The banks were reacting to a recent investigation by...
