As Russia prepares to limit the use of U.S. dollars in trade, domestic calls for an oil-backed cryptocurrency that could be shared with other major oil exporting countries are growing, Bitcoin Exchange Guide reports.
“Hypothetically, an oil-backed cryptocurrency would allow oil-producing countries to avoid any financial and trade restrictions that...
The biggest U.S. pension fund, the California Public Employees' Retirement System (CalPERS), has increased its investments in Russian sovereign debt by 8% over the last year up to $460 million, documents obtained by Bloomberg reveal. This makes the fund the 10th biggest foreign investor in Russian government bonds among those who disclose such data, the report says....
Five Russian companies have made it on Forbes’s list of 500 world's best employers, the rating published on Wednesday shows, RIA news agency reported.
According to the list, the Moscow Exchange, which occupies the 117th place in the rating, is Russia’s best employer. Oil and gas company Surgutneftegas is in...
Swedish conglomerate IKEA Group is looking to sign strategic partnerships with Russian companies to boost its local online business, the furniture retailer’s Russia country manager Pontus Erntell said on Wednesday, according to Reuters.
IKEA has been operating in Russia since 2000 and owns 14 hypermarkets in 11 Russian cities. In...
A Russian gas infrastructure company, Stroytransgaz, is revealed to be part of an indictment by Macedonia’s Special Prosecutor Office (SJO), against two high-ranking members of the country’s former government, RFE/RL in Macedonian reported.
The prosecutor, formed to investigate crimes revealed in a massive wiretapping scandal in 2016, announced on its...
The Russian Direct Investment Fund (RDIF), the country’s sovereign wealth fund and its Chinese partners will set up a regional fund worth 5 billion yuan ($720 million), RDIF’s Chief Executive Officer Kirill Dmitriev said, adding that first transactions in national currencies are expected in early 2019, TASS reports.
"The RDIF...
Commodity imports in Russia in the third quarter of this year dropped from $63.8 billion to $63 billion in the same period a year earlier, Russia’s Central Bank has reported, noting that these imports are affected by seasonal factors, Vedomosti reports.
According to Oleg Solntsev, Head of Research at...
Indian companies are seeking alternative payment mechanisms for trade with Russia, including payment in rubles via foreign branches of Russian banks, to get around the U.S.-imposed sanctions on that country, The Economic Times reports.
Russian diamond miner Alrosa has accepted payment in roubles from an Indian diamantaire as part...
Russia’s tense relations with the West have led to the country being more open to investment and business opportunities coming from economies from the world’s Far East, Politico reports.
Randi Levinas, executive vice president and COO of the U.S.-Russia Business Council, said Russia ranks far ahead of Brazil, India, and...
A better than expected current account surplus in Russia’s budget is stabilizing the country’s economy, although capital outflow remains the greatest risk, according to analysts from multinational banking and financial services corporation ING.
“The strong current account surplus of $26.4 billion in 3Q18 could possibly widen in 4Q18. With the Finance...
