Two of Russia’s largest lenders, state-run Sberbank and VTB, saw outflows of foreign currency deposits in August amid a rouble depreciation and concerns about new U.S. sanctions, Reuters reports citing central bank data.
However, some of Russia’s smaller banks along with subsidiaries of foreign banks in Russia saw inflows...
India’s Commerce and Industry Minister Suresh Prabhu on Friday called for a government-level agreement with Russia for diamond imports in a manner that does not adversely impact the balance of payment of India, PTI news agency reports.
He said that India is an important hub for cutting and polishing of...
Authorities in South Korea banned all ships from the U.S-blacklisted Russian shipping company Gudzon from entering its ports, while a vessel seized earlier this week with the cargo on board is navigating to the port of Pohang, Interfax news agency reports.
The Sevastopol vessel of this company was arrested...
The head of Russia’s biggest commercial lender Alfa-Bank, Petr Aven, said during an open lecture for Moscow students that he saw no alternative to the U.S. dollar as a currency for international transactions, RBC reports.
Aven’s comments come as the Russian government is preparing to stop using the American currency...
Russia has "very high yielding and a very cheap stock market,” with shares by oil and gas companies Lukoil, Novatek, and Gazprom Neft being most attractive at the moment, says UK-based fund manager Ewan Thompson, Investment Director and Co-Head of Emerging Market Equities at Neptune Investment Management.
Shares in...
A bill allowing foreign legal entities to join Russia’s alternative to SWIFT - the international system for transfer of financial messages - has been submitted to the lower house of Russia’s parliament, the State Duma, Kommersant reports.
The bill offers a direct exchange of messages about financial transactions for both...
A new round of United States sanctions against Russia may be passed either late this year or in early 2019, Steven Pifer, an expert at the Washington-based Brookings Institution, told Russian news outlet RBC.
The final version of the sanctions package may be a hybrid of the Defending Elections from...
The American subsidiary of Russia’s steel giant NLMK is seeking retroactive relief if exclusion requests for its imported steel slabs are granted, as delays caused by the U.S. Department of Commerce have cost the company tens of millions of dollars in tariffs, documents published on Tuesday have revealed, according...
A growing number of shopping malls in Moscow has strengthened the Russian capital’s bid to become the world’s top shopping destination, trade analysts say. Since the beginning of the year, 15 newly-built and reconstructed shopping malls have opened their doors to customers in Moscow, Rossiyskaya Gazeta writes.
Another five will be...
Russia’s business climate is changing as young managers and entrepreneurs are taking over from Soviet-era businessmen, Bill Conerly the founder and CEO of Conerly Consulting, writes in an article for Forbes after visiting Moscow.
According to Conerly, the change in attitudes in the business community affects many facets of...
