Market plunge drives traders to despair: comments

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With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

Crisis survival guide The UK is heavily reliant on its financial sector, and the financial crisis has been affecting its people more than other Europeans. Even the Queen is feeling the crunch and is forced to strict control of her budget.

Russian markets fall as Government responds Russia’s two stock markets fell further on Monday despite government intervention aimed at helping overcome the global financial crisis. At the close of trading, the markets were in the red, with Micex losing 3.48 per...

Automakers shape for life in the slower lane Russia's number two automaker GAZ says it will reverse its sliding market share, as buyers downsize in the credit crunch. The news comes as the head of luxury car manufacturer Audi reveals sales growth in Russia has...

G7 members act to head off global financial meltdown Finance leaders met over the weekend to deal with the ongoing crisis engulfing the global financial system. EU countries said they will take big stakes in banks and guarantee lending between banks for up to 5 years.

Russian markets resume trading Russian markets, which were suspended last week, have opened again on Monday. The country's two stock exchanges, the MICEX and the RTS, did not open for full trading on Friday following instructions from the financial...

Russians feel impact of financial crisis The effects of the world financial crisis are being felt by people in almost all areas of Russian society. Bank loans are not being given, jobs are being cut, and people are suffering from stress and worries about their...

Will financial crisis turn G7 into G14? The world's financial storm continues to rage forcing the Group of Seven of the world's most powerful economies to look further afield for help. Key players are now recommending expanding the group to G14, which would...

Nightmare on Wall Street as U.S. debt hits record high The United States has the highest level of foreign debt in the world, which has nearly doubled during the Presidency of George W. Bush. The country’s national debt has also just reached its ultimate high.

Russia works out anti-crisis measures with G7 Russia has been invited to participate in a G7 summit for the first time ever as financial experts try to find a way out of the global economic crisis. Officials from most of the world's leading economic powers met in...

Russia to work out anti-crisis measures with G7 Russia has been invited to take part in discussions on anti-crisis measures with the Group of Seven. The invitation came from the U.S. which currently holds the presidency of the organisation.

Don’t panic! – Bush calls on Americans George Bush has addressed the nation over the country's economic situation. In a moral boosting speech the U.S. President said the problem had been examined, and would be resolved. He spoke as the finance ministers of...

Margin calls and trading halt confusion adds to gloom on Russian markets A torrid week on the Russian markets has seen them lose about 30%, amidst several suspensions of trade. While the financial regulator is trying to avoid the panic on the market, the share sell-off is also putting...

Credit crunch comes to real estate Over the past decade, Moscow real estate has experienced a boom – with sky-high building projects going up over the Russian capital. But the fate of future developments is up in the air as the economic crisis...

Duma passes amendments to protect Russian banking system from global meltdown The Russian State Duma adopted amendments on Friday that allow the Central Bank to lend to top banks for a period of up to 6 months. It's an attempt to assist the country's financial system during the current global...

Could the financial crisis save the environment? The global economic downturn is causing financial mayhem for most people on the planet – but scientists say it could have an upside for the environment. It’s believed it could trigger more careful use of...

Severstal slashes production Russian steelmaker, Severstal, is clearing the decks for a major downturn in the global steel industry by announcing major productions cuts.

Gold provides the haven Gold companies have been tipped as a standout long-term investment amid the global markets collapse. Experts warn that's despite government regulations which are choking development of Russia's reserves, the world's...

Russia fights to prevent panic sells The situation on the international markets remains grim as global stocks take yet another plunge. A massive sell-off on Wall Street on Thursday, and the escalating global equity crisis, sent Asian stocks down sharply.

Government liquidity injections a balancing act The money being pumped into the banking system is giving rise to concerns about the impact on Russia’s reserves, and the effect on Russia’s notorious inflation problem.

Millions of “Bin Ladens” stashed under Spanish floorboards The Spanish government is looking to recover millions of 500 euro notes being horded by the public as it attempts to steer a path through the economic crisis.

Russian exchanges surge on stop-start day, as global central banks continue to... Russia’s RTS and Micex exchanges have opened for trade on Thursday after receiving clearance from the Federal Financial Markets service. Both have moved sharply higher in morning trade, with the RTS up 12%, and the...

Cherkizovo Group posts 66% jump in Net Income 1H 2008 Leading Russian Meat producer, Cherkizovo group, has posted a Net income of $36.3 million under U.S. GAAP

Smaller Russian financial institutions change hands as credit crunch forces... KIT Finance and Sviaz-Bank get new owners as state owned players bail them out.

Britain bails out its banks as Medvedev calls for change to global financial... Every person in Britain will in effect pay 2 thousand dollars to the nation's banks in an unprecedented government scheme to prevent their collapse. The $100 Billion injection comes as 7 world economies coordinate an...

Bank support law held up as smaller banks look for help Russia's lower house of parliament, the Duma, has held up a bill providing banks with subordinated loans. Experts are sure the law will eventually be passed, but whether it will solve the systemic problems in the sector...

Reports of another Great Depression were exaggeration - IMF Olivier Blanchard, the chief economist for the International Monetary Fund, confirmed on Wednesday that the world economy is facing a major downturn, but added that the chances of it sliding into another Great...

Great Depression v2.0? The real economy is in peril. European governments have put huge chunks of state cash into their top banks to shore them up and have cut interest rates to help companies and consumers. How bad are things?

Concerted global action to underpin global finances: RTS and Micex halted Russia’s RTS and Micex exchanges halted Wednesday trade at 11.00 Moscow time after a frenzied 30 minute sell off, before global central banks unveiled the first coordinated response to the calamity engulfing financial...

Life in the epicentre of the financial crisis The financial turmoil is affecting most people's lives around the globe, but it's the epicentre of the crisis, New York, that's been shaken most.

Icelandic delegation to come to Moscow in search of $5.4 Billion A delegation from Iceland is scheduled to arrive in Moscow on Wednesday to negotiate a potential $5.4 Billion loan from Russia.

Market plunge drives traders to despair: comments

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