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Russia, Venezuela Sign Deal on $3.15 Billion Restructuring

Russia signed an agreement to restructure $3.15 billion of debt owed by Venezuela, throwing a lifeline to a crisis-wracked ally that’s struggling to repay creditors, Bloomberg News reported. The pact gives Venezuela some much-needed breathing room as it ...

Daily Headline - global.abi.org - 11/15/2017 - 23:38 - 0 comments

Rosneft Reports Lower Than Expected 81% Profit Rise

ratio of assets to liabilities fell to 0.52 in the quarter, from 1.17 a year previously, after ...

Daily Headline - global.abi.org - 11/14/2017 - 22:55 - 0 comments

Russian 'Pocket Banks' Must Merge to Survive

Russia risks having to bail out more banks owned by large industrial groups unless there is rapid consolidation, VTB First Deputy Chief Executive Yuri Solovyov said. Two of Russia's biggest banks, Otkritie and B&N, have had to be taken over by t ...

Daily Headline - global.abi.org - 10/30/2017 - 21:31 - 0 comments

Russian Government Drafts Terms to Restructure Venezuelan Debt

Russia and Venezuela may sign an agreement on restructuring Venezuelan debt by the end of the year if terms drafted by their finance ministries are approved, said Russian Finance Minister Anton Siluanov. “In general, we worked out with the finance minist ...

Daily Headline - global.abi.org - 10/15/2017 - 21:59 - 0 comments

Russia's B&N Bank to Write Off Some Junior Debt Owned by Shareholders

Russia’s B&N Bank, which is being rescued by the central bank, said on Wednesday it will write off subordinated debt worth $226.56 million owed to its shareholders, Reuters reported. B&N - the second bank to be rescued by the central bank in less ...

Daily Headline - global.abi.org - 10/04/2017 - 21:46 - 0 comments

Central Bank Purge Deepens Doubts Over Russia's 'Pocket Bank' Phenomenon

The failure of two big Russian lenders within a month has cast doubt on how much longer a phenomenon of the post-Soviet financial system, the "pocket bank", can last. The practice of conglomerates running their own banks grew out of the early d ...

Daily Headline - global.abi.org - 09/28/2017 - 15:28 - 0 comments

Russian Air Carrier VIM Airlines Cries for Help, May Enter Receivership

Russian private air carrier VIM Airline has faced a severe economic adversary and has asked the state for financial aid with a possibility of going into a receivership, the company said on its social media accounts on Monday. The company, top 10 among th ...

Daily Headline - global.abi.org - 09/25/2017 - 20:17 - 0 comments

A Big Russian Bank Just Couldn't Stay Private

The nationalization of Russia's biggest private bank sounds anachronistic: There's no global or regional financial crisis, and the latest World Bank report on the Russian economy described the country's financial sector as "largely st ...

Daily Headline - global.abi.org - 08/30/2017 - 19:49 - 0 comments

Billionaire Owners Watch Otkritie Flail as Russia Reboots Banks

As Russia’s second-biggest private bank implodes, its billionaire owners have been conspicuous by their absence, Bloomberg News reported. By leaving Bank Otkritie FC to fend for itself, the four shareholders controlling more than a third of the company - ...

Daily Headline - global.abi.org - 08/27/2017 - 20:06 - 0 comments

Russia Readies $4 Billion Eurobond Swap in Face of Sanctions

Russia laid the groundwork for an operation that will reduce some of its closest and biggest dollar bond payments before the end of the year, Bloomberg News reported. The Finance Ministry has permission to swap up to $4 billion of debt maturing in 2018, ...

Daily Headline - global.abi.org - 08/08/2017 - 21:32 - 0 comments

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