Saturday, March 6, 2021
Despite record borrowing to shore up the country’s finances and fund its healthcare system during the Covid-19 pandemic, Russia has racked up far less national debt than first expected, a new economic analysis has claimed, RT reports. On Wednesday, local media reported that the Accounts Chamber in Moscow had recorded...
Russia’s second-largest lender VTB on Thursday reported a 63% decline in net profit last year as the COVID-19 pandemic triggered a hike in provisions against bad debt but it said it aimed for record-high income in 2021, Reuters reports. State-run VTB saw its net profit shrink to 75.3 billion rubles...
Bitcoin during the trading session is down 16.38%, reaching $45,615 according to data from the CoinDesk portal at 14:57 Moscow time released on Tuesday, TASS informed. As of 15:10 Moscow, the bitcoin rate was at $46,369 (-14.5%). On February 21, the price of the cryptocurrency exceeded $58,000 updating the historical maximum....
In a Monday article for the U.S. news outlet Politico, the foreign ministers of Poland and Ukraine called upon U.S. President Joe Biden to do his best "to put an end" to the Russian-Western European energy project Nord Stream 2, as they warned that Russia was strengthening "its grip...
Belarusian President Alexander Lukashenko has thanked his Russian counterpart Vladimir Putin for helping the republic’s economy, TASS informed. "Of course, I am very grateful to you for the support you are providing for the economy of Belarus. I need to inform you, this is not in vain, the money is...
The price of futures contracts of Brent crude oil for April 2021 on London’s ICE went up by 1.2%, reaching $65.12 per barrel, according to the trading data as of 04:01 Moscow time. This is the first time the price of Brent has surpassed $65 per barrel since January 2020,...
Russia’s Yandex, which on Tuesday reported a 2% rise in 2020 net profit, plans to spend $400 million-$500 million on an e-commerce push this year to help annual revenue reach 305-320 billion rubles ($4.1-4.3 billion), its finance chief said, Reuters reported. Yandex’s core advertising business took a hit during the...
Russian retail investment into stocks and bonds has finally taken off after decades of effort by the financial authorities. In 2020 retail investors put 638bn rubles ($8.6bn) into foreign stocks and bonds, according to the Central Bank of Russia, bne IntelliNews reports. Russians have been moving money out of their...
Two large amphibious assault ships of the improved Project 11711 currently under construction at the Yantar Shipyard on the Baltic coast will displace 40% more tonnes compared to standard warships of this class, Shipyard CEO Ilya Samarin told TASS on Wednesday. "Standard ships displace about 6,000 tonnes whereas upgraded...
The Russian Auction House has sold an infamous statue of a local fairytale hero for 2.6 million rubles ($35,500) Monday after a town in southern Russia dismantled it following a public outcry, The Moscow Times reports. Authorities in Novovoronezh heeded mounting calls to take down the metal Alyonka sculpture shortly...

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