Tuesday, July 16, 2019
The Asian Infrastructure Investment Bank (AIIB) will begin offering local-currency financing in selected emerging markets including Russia, The Economic Times reports. The program is set to begin this month, initially covering India, Indonesia, Thailand, Turkey, aside from Russia, the report said. The local currency financing program will effectively shield borrowers from...
Russian lender Sovcombank is the country’s best bank for 2018 according to Euromoney, the business and finance magazine said on Friday. Low-interest rates and returning consumer confidence created a fertile environment for Russia's retail lenders last year, Euromoney said. Sovcombank took full advantage of this trend, expanding its loan portfolio...
New U.S. sanctions against Russian government debt, if introduced, will bring damage to U.S. investors first, Alexis Rodzianko, head of the American Chamber of Commerce in Russia (AmCham), has told RIA Novosti. This week, the U.S. House of Representatives adopted an amendment to the defense budget for 2020, proposed by...
The capital adequacy ratio of Russia’s Vostochny Bank briefly dipped below a critical level last month, the country’s central bank warned on Friday, according to Reuters. The situation is seen as a sign of balance sheet problems at the lender amid a controversial battle for control between shareholders. The bank’s...
Gazprom’s revenues from natural gas exports in the second quarter of 2019 amounted to $8.7 billion, a decrease of 38% compared with the first quarter and 21% compared with the second quarter of 2018, according to an estimate of the Central Bank. In the first quarter, revenues from gas exports...
Russia’s current account showed a $45.6 billion surplus in the first half of this year, a figure lower 4% than the one recorded in the same time last year, the Bank of Russia said this week, according to Investing.com Russia. The surplus, according to preliminary estimates, was mainly the result...
U.S.-based multinational payment company Visa said it does not plan to exit the Russian market if a newly-proposed law on payment processing is adopted, Pymnts.com reports. The company said it is ready to comply with the Russian law on the national card system to continue smooth operations in the country,...
Recent amendments to the Russian law on the national payment system may scare away international companies like Visa and Mastercard from Russia, Kommersant writes citing experts. Requirements for the companies’ subsidiaries in terms of ensuring the continuity of payments, that is, a de facto prohibition on complying with international...
Turkey has begun taking delivery of Russia’s S-400 air-defense system, completing a deal that is likely to trigger sanctions from the United States, CNN reported. The first components for the system arrived Friday at Murted Air Base in Ankara, the Turkish capital, the Turkish Defense Ministry said in a...
Russian oil producer Gazprom Neft has increased export of ARCO and Novy Port grade oil (from Arctic fields Prirazlomnoye and Novy Port) by 10% year-on-year — to 5.5 million tons, the company reported on Wednesday, according to TASS news agency. "Over the first half of the year, the company shipped...