Search Results for: Russia
Moody’s downgrades three major Russian Financial Institutions
January 20th, 2015
Moody’s Investors Service has on Monday 19, 2015 downgrades three major Russian Financial Institutions namely Sberbank, Agency for Housing Mortgage Lending OJSC and Vnesheconombank. These actions follow the weakening of Russia’s credit profile, as reflected by Moody’s downgrade of Russia’s ...
Richest Russians Repatriate Assets After Putin Turns Tax Screw
January 20th, 2015
President Vladimir Putin is pushing harder on Russia’s richest citizens to repatriate offshore assets amid a slump in the ruble and the imposition of sanctions by the U.S. and the European Union. Under new tax rules signed into law ...
Bank of Russia: Termination of activity of provisional administration
January 19th, 2015
Due to the ruling of the Arbitration court of the Khanty-Mansi Autonomous Area — Yugra, dated 24 December 2014 on the forced liquidation of the credit institution open joint-stock company Bank Purpe (Bank of Russia Registration No. 709, date of registration — 2 November 1990) and appointing a liquidator in compliance with Clause ...
Russia Abandons PetroDollar By Opening Reserve Fund
January 16th, 2015
2015 has not been good to Russia; the spread between Brent and WTI is gone in anticipation of US exports and both benchmarks have flirted with sub $45 prices. A hostage to such prices, the ruble has yet to ...
Bank of Russia Picks New Monetary Policy Chief as Ruble Plunges
January 15th, 2015
Russia’s central bank replaced its head of monetary policy after a series of emergency measures failed to contain the ruble’s decline, drawing criticism from President Vladimir Putin. Dmitry Tulin, a former central bank official who also worked at the International Monetary ...
Russian Assets Nearing Buying Range, Investment Adviser Says
January 14th, 2015
Russian assets are approaching levels where they would be attractive to buy, investment adviser Marc Faber — writer of the Gloom, Boom & Doom Report — said Tuesday. Western sanctions imposed over Moscow’s role in the Ukraine crisis and ...
Russia faces wave of bankruptcies if interest rates don’t fall
January 13th, 2015
The pressure is building on Vladimir Putin: Russia will be hit by a wave of bankruptcies unless it cuts interest rates very soon, a top financial official warned Monday. Anatoly Aksakov, president of Russia’s regional banking association and deputy ...
Russia’s credit rating likely to be downgraded to junk
January 12th, 2015
Standard & Poor’s is going to revise Russia’s sovereign credit rating with a “negative” outlook. The agency made the decision to revise Russia’s credit in late 2014. According to the agency, the flexibility of Russia’s monetary policy has been declining steadily. ...
Russian Central Bank Spent $76.1 Billion Defending Ruble in 2014
January 12th, 2015
The Russian Central Bank’s net currency interventions in 2014 amounted to $76.13 billion and 5.41 billion euros, Interfax news agency reported Monday, citing Central Bank Data. Interventions in the month of December amounted to $11.9 billion. The bank intervened heavily last year as the ruble slumped because of international ...
29-Year-Old Russian Hedge Fund Founder Disappears With All The Firm’s Money
January 5th, 2015
The value of the ruble isn’t the only thing that is vanishing in Russia. A Moscow hedge fund chief executive has disappeared, along with all the money in the firm’s accounts. That’s according to a stunning feature in The ...
