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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 - 22:51 - 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 - 11:09 - 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 - 23:54 - 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 - 23:47 - 0 comments

Brunswick Rail Makes Debt-Restructuring Offer After Talks Fail

Brunswick Rail Ltd., the Russian railcar lessor struggling to repay foreign debt following a plunge in the ruble, issued a last-ditch bond-restructure plan after talks with creditors broke down. The company is giving holders of $600 million of bonds due ...

Daily Headline - global.abi.org - 06/27/2016 - 22:52 - 0 comments

The Corner of Russian Economy Where Crisis Still Rages Unabated

As Russia’s government counts the months to an economic rebound, a bellwether of investment is nearing levels of distress last seen during the throes of a recession seven years ago, Bloomberg News reported. Building completions plunged 9 percent from a y ...

Daily Headline - global.abi.org - 06/26/2016 - 23:29 - 0 comments

Putin Said to Weigh $11 Billion Rosneft Sale to China and India

Vladimir Putin is considering selling part of Russia’s corporate crown jewels to China and India as the president struggles to meet spending commitments before his possible re-election bid in less than two years, Bloomberg News reported. Russia is seekin ...

Daily Headline - global.abi.org - 06/19/2016 - 22:07 - 0 comments

Russia's Rusagro Files For Bankruptcy Of Razgulay

Russian farming conglomerate Rusagro has filed a bankruptcy claim against Razgulay , according to materials of the Moscow Arbitration Court, Reuters reported. Rusagro, a fast-growing pork and sugar producer, confirmed submitting the claim, saying it was ...

Daily Headline - global.abi.org - 06/07/2016 - 21:19 - 0 comments

Dutch Court Overturns $50 Billion Yukos Award Against Russia

In a victory for Moscow, a Dutch court on Wednesday overturned an order that Russia pay $50 billion to shareholders in defunct oil company Yukos, saying that the Hague-based Permanent Court of Arbitration had no jurisdiction, the Irish Times reported ...

Daily Headline - global.abi.org - 04/20/2016 - 22:00 - 0 comments

Mechel Signs Debt Restructuring Deal With Sberbank

Russian coal and steel producer Mechel said on Monday it had agreed a debt restructuring deal with the country's biggest bank Sberbank totalling 30 billion roubles ($446 million) and $427 million, Reuters reported. The mining company, controlled by ...

Daily Headline - global.abi.org - 04/18/2016 - 20:52 - 0 comments

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