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Russia's Mechel Agrees Debt Restructuring Deal With Creditors

Russian coal and steel producer Mechel has reached debt restructuring agreements with its major creditors after two years of negotiations on a debt pile it said had threatened the company's survival, Reuters reported. The mining company controlled b ...

Daily Headline - global.abi.org - 02/04/2016 - 21:44 - 0 comments

When The Going Gets Tough, Russia's Rich Go Shopping

Conspicuous consumers helped some luxury brands report their best-ever results in Russia in 2015, even as overall retail sales dropped 10 percent, Bloomberg News reported. About half of Russians can barely afford purchases beyond food and other basics, a ...

Daily Headline - global.abi.org - 02/03/2016 - 22:12 - 0 comments

Putin Lines Up State Sell-Offs To Plug Budget Hole

Russia is lining up seven major state companies, including Aeroflot, Alrosa, the diamond miner, and Rosneft, for potential privatisation as the Kremlin debates drastic options to replace dwindling oil revenues, the Financial Times reported. The decis ...

Daily Headline - global.abi.org - 02/01/2016 - 20:11 - 0 comments

Russian Economy Has Worst Year Since Global Financial Crisis

Russia’s economy shrank 3.7 per cent in 2015, the worst drop since the depths of the global financial crisis, as the country struggled with a drop in the price of its oil exports and international sanctions, the state statistics service said Monday, Th ...

Daily Headline - global.abi.org - 01/25/2016 - 21:41 - 0 comments

Russia's Rostec Promises Capital For Its Debt-Laden Novikombank

Russian state defence company Rostec will provide additional capital to its subsidiary bank Novikombank due to revaluation of loans to companies that fell under Western sanctions, according to a Rostec statement, Reuters reported. Rostec, also under West ...

Daily Headline - global.abi.org - 01/24/2016 - 22:46 - 0 comments

Head Of Russia's VEB Says Will Need State Funds In Q2

Russian state development bank VEB will need state funds in the second quarter of this year, its chairman Vladimir Dmitriev was quoted as saying on Friday, after the bank was granted an extension on some of its liabilities late last year, Reuters reporte ...

Daily Headline - global.abi.org - 01/24/2016 - 22:47 - 0 comments

Russian Central Bank Revokes Vneshprombank's Licence As Banking Pain Spreads

Russia's central bank said on Thursday it had revoked the licence of Vneshprombank, a major mid-sized bank whose collapse is one of the a largest-ever in Russia, Reuters reported. The central bank said it had closed the bank, one of the top 40 by as ...

Daily Headline - global.abi.org - 01/21/2016 - 20:48 - 0 comments

Russia to Cut Interest Rate on Central Bank's Deposits in Vnesheconombank

will be cut, significantly cut, to 0.25 percent," Siluanov said. "We agreed that VEB will get ...

Daily Headline - abi_admin - 12/30/2015 - 14:04 - 0 comments

Russia May Extend National Wealth Fund Deposits in VEB for 5 Years

than 0.25 percent with a three-year grace period, the document published on the website for official ...

Daily Headline - abi_admin - 12/28/2015 - 13:17 - 0 comments

Measures for Russia's VEB Support Should Be Ready by Year-End

A special working group must prepare by year-end measures for state support of VEB, Russia's state development bank, its chairman Vladimir Dmitriev said today, Reuters reported. The Russian authorities are considering support for VEB worth 1.2 trill ...

Daily Headline - abi_admin - 12/22/2015 - 13:17 - 0 comments

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