Finance Archives - Page 18 of 23 - RUSSIA'S PIVOT TO ASIA

Featured July 20, 2024

Russia’s Tax Revenues From ‘Unfriendly Countries’ Business Exceeds Forecasts

Other unexpected bonuses are increasing Russia’s taxable corporate income from foreign investors originating from unfriendly countries as a direct result of sanctions being placed upon the country. Political pressures are also being placed on foreign investors to exit. It is another example of political thinking in the West apparently being divided from the fiscal repercussions. […]

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Featured July 20, 2024

Corporate Registrations In Russia’s Offshore SAR Increase 30% In 2024 YTD

Russian and foreign investors are starting to become more savvy over tax incentives on offer in Russia’s Special Administrative Regions (SAR), increasing their investments by almost a third since the beginning of this year. The two SAR that Russia currently has are sited in Kaliningrad, in Western Russia, and Russky Island, Vladivostok in the Primorye […]

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July 15, 2024

Russia’s Positive Trade Surplus Now Seventh Highest Globally

The World Bank has compiled a list of countries by the level of trade surplus by the end of 2023. In total, US$23.3 trillion worth of goods were exported worldwide, and US$22.9 trillion worth of goods were imported. The total surplus amounted to US$365 billion. In terms of the countries with the highest positive trade […]

July 15, 2024

The Evolution, Difficulties & Opportunities Of Creating A BRICS Currency

Discussions concerning the development of a new, potential BRICS currency have been on-going for some time, yet have intensified in recent months due to several Heads of States meetings taking place that have actively discussed and committed research into the issue. A trend is emerging in the modern geopolitical landscape: large international associations such as […]

July 14, 2024

European Workers Suffer Russia Sanctions Blowback With Predictable Redundancies

We rarely comment about the sanctions regime here on RPA mainly because we deal with trade and investment issues and also as the topic is usually well covered elsewhere. However, the news that Unilever are to slash their European workforce by 30% is a predictable result of sanctions being placed upon Russia and political pressure […]

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July 13, 2024

Eurasian Economic Union, United Arab Emirates Free Trade Agreement Expected In September

Representatives of the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE) expect to come to a substantive conclusion of negotiations on signing a Free Trade Agreement (FTA) by the autumn of 2024, the Eurasian Economic Commission (EEC) has said. This followed statements by Andrei Slepnev, the EEC Trade Minister and Thani bin Ahmed […]

July 10, 2024

Russia, India Set Target To Boost Bilateral Trade To US$100 Billion

The Russian President, Vladimir Putin and India Prime Minister Narendra Modi have agreed to boost their bilateral trade to US$100 billion by 2030. Putin has been meeting with Modi for bilateral talks in Moscow, during which they discussed a wide range of issues. The two sides agreed on a plan of strategic cooperation until 2030. […]

July 10, 2024

China’s RMB Yuan Accounts For 99.6% Of All Forex Trade On The Moscow Stock Exchange

China’s RMB Yuan accounted for virtually the whole volume of exchange forex trading after the imposition of sanctions against the Moscow Exchange (MOEX), making up 99.6% of all transactions, the Central Bank of Russia has stated. Trading volume on the over-the-counter forex market reached ₽13 trillion (US$148 billion) in June. When sanctions were first imposed […]

July 10, 2024

How India’s Vostro Bank Account Scheme Can Assist With Russia’s Rupee Trade Settlements Problem

Indian Prime Minister Narendra Modi has been in Moscow holding talks with Russian President Vladimir Putin, in discussions likely to have far-reaching, positive consequences for Russia-India bilateral trade as well as the BRICS group. There are however, technical problems to solve. A major stumbling block is that India buys far more from Russia than vice […]

July 7, 2024

Russia’s Special Economic Zones Attracting New Foreign Investors

The Russian Ministry of the Economy has been assessing the effectiveness of the 44 Special Economic Zones (SEZ) in the country, including their fiscal effectiveness. SEZs are attractive investments for foreign investors as they typically offer reduced corporate income tax rates – typically zero for the first three-five years and at a 50% discount for […]

July 2, 2024

The World Bank Classifies Russia As “A High Income” Country With Average Income Worth US$47,261.

The World Bank has recognised Russia as a high-income nation in its official global rankings, after stating that the average Russian gross national income per capita in Russia is US$14,250, which at current exchange rates, in local Ruble terms is ₽1,260,940. The World Bank Group assigns the world’s economies to four income groups: low, […]