Regional banks feel the squeeze: comments

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

Market Watch November 26: Easing lower - with a floor forming? Wednesday saw Russian stocks ease lower, while firmer metals prices provide some upside, as globally investors absorbed news of further rate cuts in China, a stimulus package proposed by the European Union, and some...

Toyota counts on Russia as sales wilt The world's biggest automaker, Toyota, which recently lost its AAA rating from Fitch is counting on Russia to save its global business from operating at a loss.

Reserve Fund to plug budget while outlook clouds Russia will draw on $35 Billion from its Reserve Fund to plug a hole in next year's budget. Finance Minister, Aleksey Kudrin, says the cash will compensate for falling oil prices and global recession.

PM Putin to get tough on monopolies The government will use anti-monopoly laws to improve competition in Russian business. Prime Minister Vladimir Putin discussed an action plan with Russian entrepreneurs. He called for tougher penalties –...

Russia to use Reserve Fund to underpin budget Russia will have to spend more than a quarter of its Reserve Fund or $36 Billion next year, to balance the budget.

All bets off for insider trading One of the few groups who benefit from economic uncertainty and stock market turbulence are those with privileged information. They can use their insider knowledge to bet against currencies or shares rising or falling....

High noon at Norilsk sees everyone at the table The main shareholders of Norilsk Nickel – Interros and Rusal – have agreed on the board’s structure and postponed merger talks for three years.

Gazprom and Naftogaz come to terms Gazprom and Ukraine's national energy company Naftogaz have agreed on terms to repay part of Ukraine’s $2.4 billion debt.

Market Watch November 25: Some good, some bad, and some just plain left field Russian stocks gained further traction in Tuesday trade, on the back of more positive sentiment in Asia and buoyant commodity prices, but then gave much of it back late in the day, as crude slid lower, commodity stocks...

Vimpelcom posts 3Q 2008 Net Income of $269 million Russian mobile operator, Vimpelcom, has posted a 3Q 2008 Net Income of $269 million under U.S. GAAP.

Don't mention the D word in Latvia In Latvia, the government is warning journalists not to stir up panic about the financial crisis. Talk of currency devaluation is all but a criminal offence and could earn transgressors a spell behind bars.

Money back not guaranteed Consumer confidence in Britain could be crushed by European Union plans to inaugurate a ban on the refunds of damaged items.

New Round of WTO talks eye January 2010 accession Prime Minister Putin's reversed his opposition to the World Trade Organization by backing a new round of accession talks which start on Monday. But negotiators have admitted that in the first years Russia will give WTO...

Petrobras to continue emerging market energy rise despite credit crunch The rising cost of capital and slumping global consumption threatens some of the world’s largest companies. Brazil’s Petrobras may have problems raising $600 Billion it needs to explore its newly discovered offshore oil...

Global plan can lift us out of recession - APEC The leaders of some of the world’s biggest economies say globalisation and free trade can help revive the world economy. The comments were made in a statement at the APEC summit in Peru. The forum’s final declaration...

Angry Americans protest against U.S. monetary policy While leaders in Peru grapple with the financial fallout, Americans angry at the multi-billion dollar bailout plans are protesting in Washington. They say the U.S. Federal Reserve, far from helping solve the financial...

Market Watch November 21: No trading halts and a dead cat bounce Russian stocks finished the week on a relatively sedate note with an early surge in the wake of a strong performance in Asian trade, followed by easing throughout the day, as oil continued to languish below $50 BBL and...

Novatek ups petrochemical output with new plant As global petrochemical giants cut output, Russian independent gas producer, Novatek, is doubling its feedstock for the industry. The company has boosted capacity to produce more gas condensate – one of the...

Russian finance guru dies at 51 Russia’s Former Vice-Premier and two times Finance Minister Boris Fedeorov has died on Thursday, November 20. Doctors from London’s Wellington clinic say the cause of death of the 51-year-old was from a stroke.

New road agency to free up Russia’s transport routes With Moscow's clogged arterial roads setting records for their traffic Jams, a New Government Road management company is being formed with a view to attracting private investors, and reducing transport times.

Norilsk Nickel looks for Government to step in The new boss of the world's biggest nickel miner wants the Government to buy into Norilsk Nickel then sell out when the credit crunch ends.

President meets magnates over dinner to discus financial crisis President Dmitry Medvedev met Thursday evening with Russian corporate tycoons to discuss how the global financial crisis is affecting the real sector of the economy. The business leaders are looking for faster moves to...

Market Watch November 20: Russian stocks wilt as global outlook darkens further The RTS and Micex closed lower with crude and commodity prices wilting throughout the day, as global sentiment remained nothing short of bleak. The only upside came late in the day on the Micex when a minor rally...

Time for Russia to diversify Russia needs to come out of the financial crisis stronger – using its own resources. That's according to Prime Minister Vladimir Putin – addressing the 10th congress of the United Russia party on...

The Rouble, the Dollar and the synthetic CDO tripwire As all the attention turns to the Rouble and whether or not it is going to be devalued, sight seems to be turning from what is actually happening with the Russian currency and what other currencies this relates to, as...

Finance Minister faces bailout grilling in Duma Angry politicians have hit out at Russia's Finance Minister, demanding to know where the $150 Billion he's pumped into the economy have gone. But at an extraordinary session in Parliament, Aleksey Kudrin claimed money...

Market Watch November 19: Downer day in Moscow Russian stocks fell again on Wednesday as easing crude prices and commodities undermined market sentiment. Another stoppage on the Micex helped keep things orderly, while negative global sentiment about banks combined...

Rouble woes mount as ordinary Russians count the cost Finance minister Alexey Kudrin says he supports the Central bank's measures to support the Rouble – including broadening the currency band which it trades in. Speculation about the pressure on the Russian...

Russia has the reserves to handle terms of trade shocks - Kudrin Senior Finance officials have spoken before the State Duma on the management of Russia’s foreign currency reserves and its Sovereign Wealth Fund, as speculation mounts on a possible Rouble devaluation in the wake of the...

Acron posts 9M 2008 Net Profit jump of 228% Russian fertilizer producer, Acron, has posted a 9M 2008 Net profit of $384 million under IFRS.

Regional banks feel the squeeze: comments

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