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Russia to Draw Half Its Reserve Fund to Support Budget

Russia sharply raised the amount it plans to draw from its reserve fund to support this year’s budget, as revenues fall along with oil prices and Western sanctions cut the country off from international financing, The Wall Street Journal reported. In ...

Daily Headline - global.abi.org - 03/01/2015 - 20:35 - 0 comments

Petropavlovsk Shareholder Sapinda Says It Will Vote Against Financing Package

Petropavlovsk PLC suffered a blow Tuesday when an investment vehicle representing a sizable number of the Russia-focused gold miner’s shareholders said it would vote against the company’s financing package, which is aimed at staving off the threat of ban ...

Daily Headline - global.abi.org - 02/17/2015 - 22:54 - 0 comments

Ruble’s Fall Tests Bank Governor

Elvira S. Nabiullina, the governor of Russia’s central bank, was deep into a speech about her new currency policy when it became clear nobody was paying attention. Her audience, chief Russia economists from a dozen or so foreign banks, were looking down ...

Daily Headline - global.abi.org - 02/09/2015 - 22:25 - 0 comments

Alpari Co-Owner Says Applied To Wind Up Business A Year Ago

The co-founder of Russian-owned broker Alpari applied a year ago to wind up the parent company of its retail FX brokerage Alpari UK, fearing long before the company's collapse from trading losses last week that it "was doomed". Andrey Dash ...

Daily Headline - global.abi.org - 01/21/2015 - 22:36 - 0 comments

Russia and Lithuania Report

Russia: On raising professional qualification requirements for insolvency practitioners. Russian insolvency legislation sets out certain requirements an insolvency practitioner has to satisfy before his appointment in an insolvency case can be approved ...

Resource Article - abi_admin - 01/21/2015 - 11:45 - 0 comments - 1 attachment

Russian Economy To Shrink 5%, Says EBRD

contraction in the Russia’s economy of 4.8 per cent this year, compared with a forecast drop of 0.2 per cent ... operation to minus 0.3 per cent, from a plus 1.7 per cent forecast in September. Read more. ...

Daily Headline - global.abi.org - 01/19/2015 - 23:41 - 0 comments

Russia’s Central Bank Spends $76 Billion Propping Up Rouble

The Russian central bank’s net currency interventions in 2014 amounted to $76.13 billion and €5.41 billion, Interfax news agency reported on Monday, citing central bank data, the Irish Times reported. Interventions in the month of December amounted t ...

Daily Headline - global.abi.org - 01/13/2015 - 00:41 - 0 comments

Russia Takes Steps To Prop Up Struggling Companies

Russia has moved to support a number of large companies and banks as it tries to prop up a struggling economy and a banking sector battered by the rouble’s jitters, the Financial Times reported. On Wednesday, the government said it would support Yama ...

Daily Headline - global.abi.org - 01/01/2015 - 20:39 - 0 comments

Russia’s Economy Contracts in November for First Time Since 2009

year for the first time since the global financial crisis. Russia’s gross domestic product shrank 0 ... 0.6% in the first 11 months of this year, the data showed. Figures for December are likely to show the ...

Daily Headline - global.abi.org - 12/29/2014 - 22:23 - 0 comments

Foreign Banks Retreat From Crisis-Hit Russia

Foreign banks have fled Russia in dramatic fashion in 2014, cutting back their exposure to the country well ahead of the latest escalation of the rouble crisis, the Financial Times reported. Overall syndicated loan volumes this year collapsed to just ...

Daily Headline - global.abi.org - 12/18/2014 - 22:17 - 0 comments

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