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Corporate Raiding Devastating Russian Economy

Criminal prosecutions have been opened against more than 100,000 businesspeople in Russia in the first half of this year as part of a growing problem that is devastating the Russian economy, an expert on the topic has told a Dublin audience, the Irish ...

Daily Headline - global.abi.org - 11/16/2016 - 23:25 - 0 comments

Russia's VEB Chairman Sees Difficulties Redeeming Debt In 2017

Russian state development bank VEB will manage to pay back outstanding debt next year though it will be difficult, the bank's chairman Sergei Gorkov said on Thursday, Reuters reported. Gorkov said VEB had to pay back around 250 billion rubles ($3.9 ...

Daily Headline - global.abi.org - 11/10/2016 - 21:13 - 0 comments

Rosneft's State Shareholder Might Help Finance Buyback Of Its Shares

Rosneftegaz, the state holding company that controls Russian oil major Rosneft, is considering helping Rosneft finance the buyback of some of its shares in Rosneft, three sources with knowledge of the discussions said, Reuters reported. The Russian state ...

Daily Headline - global.abi.org - 11/08/2016 - 21:18 - 0 comments

Russia's Mechel To Complete Debt Restructuring By Early 2017

Russian metals and mining giant Mechel plans to sign a final debt-restructuring deal in early 2017, its chief financial officer told Reuters, concluding more than two years of negotiations on a burden that has threatened its survival. Mechel borrowed hea ...

Daily Headline - global.abi.org - 10/26/2016 - 21:13 - 0 comments

Elvira Nabiullina Hunts Down Russia’s Banking ‘Banditry’

When Elvira Nabiullina took over as governor of Russia’s central bank, she came face to face with a sobering statistic: regulators listed as many as 150 banks that were regularly involved in dubious transactions, the Financial Times reported. Today, ...

Daily Headline - global.abi.org - 10/19/2016 - 20:23 - 0 comments

Russia Default Risk Falls to Lowest Since August Crimea Flare-Up

The cost of insuring Russian debt using credit-default swaps fell to a three-week low as tensions with Ukraine eased, offering relief from mounting political risk that had weighed on assets last month, Bloomberg News reported. Investors welcomed the dimi ...

Daily Headline - global.abi.org - 09/01/2016 - 22:52 - 0 comments

Russian Pensioners to Get Little Relief as Inflation Bites

Prime Minister Dmitry Medvedev warned that Moscow has no money available to raise pensions further in line with last year’s high inflation rate, news that is likely to be unwelcome ahead of parliamentary elections in September, The Wall Street Journal ...

Daily Headline - global.abi.org - 08/23/2016 - 21:51 - 0 comments

Is restructuring possible in Russia?

The Law deals with pre- insolvency re-organisation and formal insolvency procedures including re-organisation. Starting from the 1998 crisis, the commercial courts have developed a great expertise in dealing with insolvency. Attachment Siz ...

Resource Article - twallace@abiwor... - 08/10/2016 - 10:09 - 0 comments - 1 attachment

Russia's VEB Chairman: Problems With Liquidity Solved For 2016

Russian state development bank VEB has solved its problems with liquidity for this year, the bank's Chairman Sergei Gorkov told President Vladimir Putin, the Kremlin said on its web-site on Wednesday, Reuters reported. Finance Minister Anton Siluano ...

Daily Headline - global.abi.org - 08/03/2016 - 22:54 - 0 comments

Putin’s Economy Is Stuck and He Doesn’t Know How to Get It Going

Vladimir Putin’s economy has been shrinking for 18 months but he still doesn’t have a plan to get it going again, Bloomberg News reported. After focusing almost exclusively on foreign policy since early 2014, the need to get the economy back into gear is ...

Daily Headline - global.abi.org - 08/01/2016 - 22:47 - 0 comments

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