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The Russian Finance Ministry has transferred ₽7.8 billion (US$84.4 million) to the National Settlement Depository (NSD) to pay a coupon yield on sovereign Eurobonds maturing in 2042, the ministry said. NSD, the payment agent, has received the funds. A Eurobond is a bond issued offshore by governments or corporates denominated in a currency other than […]
The United States has imposed sanctions against Russia’s JSC NSPK, the operator of MIR payment cards. These act as a Russian form of Visa and Mastercard and allow card holders the ability to access ATM machines, pay for goods in stores and conduct transactions. The latest countries to be targeted by US secondary sanctions are […]
Russia’s foreign debt, already amongst the lowest of developed nations, is continuing to be reduced as a matter of government policy. Its entities have been steadily reducing the amount of money they owe to foreign lenders, according to the latest official data. The Russian regulator and central bank, the Bank of Russia announced that national […]
Western companies that have left the Russian market have suffered billions in write-downs and lost revenue, Reuters reported on Thursday, (March 28) citing calculations based on company filings and statements. The US and its allies have placed unprecedented sanctions on Russia over the past two years in retaliation for Moscow’s military operation against Ukraine. The […]
The Chinese Hurun Research Institute has released its latest Global Rich List rating, with a surprise result in that India’s Mumbai has surpassed the Chinese capital Beijing in terms of the number of billionaires living there. Mumbai is now in third place in the world rankings after New York and London. In Russia, according to […]
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The subject of Ukraine’s public debt is shortly to become a pressing issue as the International Monetary Fund (IMF) has scheduled a meeting to discuss it with creditors on April 17. The IMF have already stated that the matter requires ‘deep treatment’. According to Focus Economics, Ukraine’s Public Debt reached 78.5% of GDP in 2022, and is almost certainly […]
An Atlantic Council study published on Thursday showed that 134 countries, or 98% of the global Gross Domestic Product (GDP), are currently exploring the launch of a central bank digital currency (CBDC). This number has surged from just 35 since May 2020. The development is significant as it seems to predict an almost universal move […]
The Russian economy is in the investment phase of growth, with investment activity at a record level and imports of investment goods are growing, according to Central Bank of Russia (CBR) Governor Elvira Nabiullina. She made the comments following a meeting of the regulator’s board, at which it held the key interest rate at 16%. […]
Austrian Foreign Minister Alexander Schallenberg has said in a meeting with US Secretary of State Antony Blinken during a joint press conference in Vienna on March 15, that 95% of Western companies are still invested in Russia. This is despite Western government pressure since early 2021 and many high profile foreign businesses announcing their exit […]
The Moscow Stock Exchange (MOEX) has seen an increase in domestic Russian corporate interest for conducting IPOs and SPOs compared to 2023; with more than 20 transactions potentially taking place in 2024, according to Vladimir Krekoten, the Managing Director of the exchange. Krekoten was speaking at the ‘Financial Markets: New Guidelines in a Changing World’ […]
The Russian economy will become the fourth largest economy in the world before 2030, with sustainable growth at a rate of at least 2% per year and gradual acceleration to 3%. This will yield approximately 20% growth by 2030, Russian First Deputy Prime Minister Andrei Belousov said at a meeting of Russian President Vladimir Putin […]
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