Putin rebuffs rumours of rouble devaluation : comments

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

Ukraine: politicians bicker as economy suffers The International Monetary Fund has agreed to provide Ukraine with $US 16.5 billion in light of the country's deteriorating financial situation. It's been made worse by the political turmoil in the country.

The Davos Blues Trumpeters in Swiss traditional costume blared their fanfares as the financiers walked in.

Americans loving their dollars Home repossessions, tight budgets, money worries — that is the bleak story for many Americans in the U.S. But for Americans living in countries such as South Africa who still receive their salaries (or conduct business)...

Russia must avoid getting into crisis - Medvedev Trading on Russia's two main stock exchanges has been suspended until Tuesday in an effort to halt the steep declines. But the Russian government says it can cope with the situation and President Medvedev says Russia...

Strategic Sectors laws discourage foreign energy players Some of the world's biggest oil firms have complained that a Russian law controlling foreign investors could scare them off. At a forum of the Russo-British Chamber of Commerce, BP and Shell said they can work with the...

Global havoc hits Russian markets The Russian markets have weathered another week dominated by bad news, amidst continuing turmoil on the international, as well as domestic front. Meanwhile, the government and Central Bank have stepped up their efforts...

OPEC cuts oil production in attempt to halt price slump The Organisation of Petroleum Exporting Countries (OPEC) has decided to cut production by 1.5 million barrels a day at a meeting in Vienna. The cut is intended to halt the collapse in crude prices, which has left them...

OPEC pares production as crude prices slump The Organisation of Petroleum Exporting Countries, has decided to cut output by 1.5 million barrels a day as of next month in an attempt to shore up sagging prices.

Carnage: Global stocks crash as tsunami sized sell off looms in New York Russia’s RTS and Micex stock exchanges fell heavily again on Friday before trade was halted until next Tuesday, as global stock markets wilted under renewed fears of a global recession, with crude continuing to slide...

OPEC cuts production by 1.5 million barrels per day OPEC ministers are meeting in Vienna on Friday to discuss cutting output to support prices, with oil price hovering in the low to mid $60 BBL range, after falling below $70 and dropping to their lowest levels in 16...

Vimpelcom prepares for opportunities, as retail sales hold up Vimpelcom – the owner of Russia's second largest mobile phone operator – says the financial crisis has not affected its sales volume, according to CEO, Aleksandr Izosimov.

Retailers brace for sales slowdown Supermarkets warn sales will fall 30% as the economic crisis spreads to the public. Sales of no-frills products and alcohol, however, are holding up.

Majority of Americans predict voter fraud in U.S. election - poll A majority of Americans think that the U.S. presidential election next month will be marred by fraud. A survey released by Opinion Dynamics suggests over 60 % believe there will be widespread voter fraud, with 35 %...

Ruble slump – time to take in some perspective The Ruble is down, and with oil down it may have further to go. But before heading off to change one currency for another it’s worth having a look at some of the other currency movements unfolding around the world, and...

UralChem boost Net Profit to $257 million for 1H 2008 Russian fertilizer producer UralChem has boosted Net Profit for 1H 2008 to $257 million under IFRS.

Russian stocks head south in afternoon trade Russia’s RTS and Micex indices are lower in afternoon trade following in the wake of overnight falls on Wall street, which has flowed through to Thursday trade in Asia and Europe.

Global financial controls and global socialism Let’s remember the Asian financial crisis of 1997-98. Policies called ruinous ten years back are our only hope today. Throwing money at the crisis can only work if everyone simultaneously does the throwing – and that lea

Russian stocks mixed on Thursday after continuing sell off in Asia Russia’s RTS and Micex exchanges were mixed during Thursday lunchtime trading despite further falls overnight on Wall Street and a poor performance in Asia on Thursday. At 12.00 the dollar denominated RTS was up .5% wit

Tatneft 1H 2008 Net Income up 27% Russian oil producer, Tatneft, has reported a 1H 2008 Net Income of 21 Billion Rubles or $778 million, under U.S. GAAP.

6-9 months before economic improvement as retailers brace for impact of downturn A top government official's warned it could take 9 months before Russia's economy turns the corner. Banks and builders are already in crisis-driven consolidation. The head of the country's largest restaurant chain says...

Ruble slump puts currency movements in spotlight The Ruble hit its lowest level against the dollar in 2 years on Wednesday – as the greenback made strides against all the major currencies. Analysts say Russia's currency will track oil prices, which have...

Energy week sees focus on investment in gas production Stronger together – the message from the first day of Energy Week in Moscow. Representatives of OPEC are talking to Russia's government about the organisation's efforts to support the oil price, possibly by...

Rouble slumps against dollar The Russian Rouble has fallen to its lowest level against the U.S. dollar in 2 years, after 6 successive days of falls.

Gazprom muscles up with $10 Billion 1Q 2008 Net Profit Gazprom has posted a 1Q 2008 Net profit of $10.1 Billion under IFRS.

RTS and Micex wilt as oil heads south in Wednesday morning trade Russia’s RTS and Micex exchanges have opened sharply lower on Wednesday with sliding crude prices, combining with overnight losses on Wall Street and a weak Wednesday performance in Asia, outweighing the start of...

New Russian airline to heighten competition Russia will soon have a new national air carrier – a project of the Moscow City Government and the State Corporation Rostekhnologii. It could spell trouble for Aeroflot and other domestic carriers.

Gas troika to become new player in energy Russia, Iran and Qatar have agreed to work together to find and produce gas. But heightened cooperation between gas producers is worrying to Western consumers.

Trading places: Man Vs. Machine in battle for profit While for most investors topsy-turvy markets are a headache, some see them as a lucrative and money-spinning opportunity. Now, with the struggle to stay afloat growing, the question is who is more likely to make a...

Government rebuffs faltering rouble rumours after public rush for dollars The Russian government has added $US 6.7 billion of liquidity to the markets and set aside the same amount for the next year in a bid to stabilise the economy. But despite Tuesday’s move there have been reports of some...

US mistakes have damaged Russian economy – Medvedev Russia is being made to pay for the financial blunders made by the US as it fights the effects of the global financial crisis, according to Dmitry Medvedev. The Russian President was speaking at the opening of the...

Putin rebuffs rumours of rouble devaluation : comments

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