Amid Russia’s sell-off of U.S. securities in the past few months, the biggest so far, the country’s Central Bank didn't dump all its holdings of United States securities, but simply moved the ownership of part of the holding to offshore domiciles, Intellinews reports citing a blog post by Council of Foreign...
The largest food retailer in Russia, X5 Retail Group, reported a net profit loss of 23.5% year on year in the first half of 2018, attributed to rising overall costs and low food price inflation, RBC reported citing the company’s financial data.
H1 net profit stood at 14.3 billion rubles...
Without rebuilding their finances after years of economic crisis, Russian consumers are borrowing like the boom times – a mismatch that is casting a shadow over the recovery in domestic demand, Bloomberg reports.
Russian households have little choice in trying to fund their shopping habits, with the savings rate...
International credit rating agency Fitch on Friday maintained Russia's issuer default credit rating at BBB- with a positive outlook, citing ongoing progress in strengthening the country's economic policy framework, RIA reports.
"Fitch Ratings has affirmed Russia's Long-Term Foreign- and Local-Currency Issuer Default Ratings (IDRs) at 'BBB-' with a Positive Outlook," the credit...
A service developed by Russia’s number one lender, Sberbank, has become the first to successfully pass the piloting phase of the Bank of Russia’s regulatory sandbox, the company announced on Friday.
The bank’s service helps remotely control permissions to carry out transactions using corporate client accounts. The piloting was carried out by...
In a move justified by Ukraine’s government with national security, Kyiv is preparing to sever all remaining public transport links with Russia, the country’s infrastructure minister has said, according to Interfax Ukraine.
“I have signed a historic document today. Now, only bears will go to Moscow, as in the good...
Kazakhstani copper mining giant Kaz Minerals declared its first dividend since 2012 on Thursday and said it planned to expand its footprint in Russia, Forbes Kazakhstan reported.
The move caused a jump in the company’s shares value on the London Stock Exchange. It follows the copper miner’s acquisition earlier this...
Russia’s Norilsk Nickel and Alrosa, two of the country’s biggest mining firms, are considering switching to payment mechanisms that use Russian rubles rather than U.S. dollars, RIA news agency reported.
Russia has been reducing its financial and economic dependence on the United States in an attempt to insulate itself...
The average Russian family has about 28,000 rubles ($420) in savings these days, experts from the Romir Research Holding told the Nezavisimaya Gazeta newspaper.
The amount of money is what’s left after people pay all their bills and purchase basic necessities, a recent survey by the marketing research company reveals....
Washington sanctions against Russian sovereign debt may, if imposed, lead to an outflow of 8-10% of investors from this type of securities, the Russian Analytical Credit Rating Agency (ACRA) says in a new study, RBK reports.
"The introduction of sanctions on purchasing Russian sovereign debt can reduce the investor base...
