Russia

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Rusal Secures More Time In Debt Restructuring Talks

Rusal has received approval from its lenders for “forbearance”, in a move that will stave off default as it seeks to hammer out a restructuring of its $10bn net debt pile, the Financial Times reported. The world’s largest aluminium producer has been ...

Daily Headline - global.abi.org - 04/09/2014 - 21:18 - 0 comments

Russia’s First-Quarter Capital Outflows Largest Since Late 2008

government estimate of about $70 billion. The economy, which is now forecast to expand 0.5 percent to 1.1 ...

Daily Headline - global.abi.org - 04/09/2014 - 21:19 - 0 comments

Russia Seen on Verge of Recession as PMI Shows Contraction

Russia’s economy is on the brink of a technical recession this quarter after gauges of manufacturing and services showed that seasonally adjusted output probably shrank between January and March for the first time since 2010, Bloomberg News reported. The ...

Daily Headline - global.abi.org - 04/03/2014 - 22:58 - 0 comments

Aluminium Giant Rusal Seeks Debt Deal To Escape Possible Default

Rusal, the world's largest aluminium producer, could default on some of its multi-billion dollar debt if it fails to reach a new deal with creditors this week, it said after reporting its biggest annual loss since 2008, The Sydney Morning Herald ...

Daily Headline - global.abi.org - 03/30/2014 - 21:31 - 0 comments

Russia Faces Recession Risk as Capital Outflows Bleed Economy

days against the dollar, weakening 0.3 percent to 35.6300. Russia’s currency is down 7.6 percent versus ...

Daily Headline - global.abi.org - 03/27/2014 - 22:10 - 0 comments

Russia Braced For $70 Billion In Outflows

The Russian government is braced for the country’s capital outflows to soar to $70bn in the first three months of the year as investors seek cover from the fallout of President Vladimir Putin’s Ukrainian land grab, the Financial Times reported. Andre ...

Daily Headline - global.abi.org - 03/24/2014 - 22:50 - 0 comments

Bankruptcy Suits Filed Against Construction Firm Kosmos

Two companies have filed bankruptcy suits against Kosmos, one of the country's oldest construction firms, The Moscow Times reported. Moskapstroi-Nedvizhimost, a Sistema subsidiary, said it paid Kosmos 100 million rubles ($2.7 million) last fall ...

Daily Headline - global.abi.org - 03/24/2014 - 22:54 - 0 comments

Russian Markets Shudder Under Threat of Sanctions

As Russia's military secured the Crimean peninsula, its currency hit a record low and its stock market plunged in the face of U.S. and European warnings of sanctions over the incursion into Ukraine, The Wall Street Journal reported. The Obama ad ...

Daily Headline - global.abi.org - 03/03/2014 - 22:43 - 0 comments

Russia Gas Threat Shows Putin Using Pipelines to Press Ukraine

OAO Gazprom’s threat to end natural gas discounts for Ukraine adds to the financial burden on the near-bankrupt government in Kiev and makes Europe’s energy supply part of the escalating crisis, Bloomberg News reported. Russia’s gas-export monopoly said ...

Daily Headline - global.abi.org - 03/02/2014 - 19:19 - 0 comments

Russian Finance Official Says Ukraine May Default On Eurobond Tranche

There is a small risk that Ukraine may default on $3 billion in Eurobonds that Russia recently acquired, Russia's Deputy Finance Minister Sergei Storchak said on Tuesday. "We probably have risks, but not so big ones," he said. "It ...

Daily Headline - global.abi.org - 02/25/2014 - 22:39 - 0 comments

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