Economy

Bitcoin hits new all time high

Having traded in a relatively narrow - for bitcoin - range of $16,500-$17,500 over the past week, the world's most popular cryptocurrency jumped to new all-time highs following the latest (unexplained) burst of buying out of Asia, with …

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Vote for Crimean bridge’s name concludes in Russia

The vote for the name of the bridge across the Kerch Strait is coming to an end. The leader has been determined already. Today is the last day to influence the results. "At 12 in the night, the voting will be closed, and the …

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Russia's Central Bank cuts key rate to 7.75%

The board of directors of Russia’s Central Bank cut its key interest rate by 50 basis points to 7.75% from 8.25%. The central bank said it would also consider cutting the key rate next year because inflation had slipped below …

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Russian Central Bank to 'bail out' Promsvyazbank

Russia's central bank said that it had put Promsvyazbank under temporary administration as part of a bailout plan. The central bank said in a statement it was providing funds to support Promsvyazbank’s liquidity and would send …

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US preparing 'black swan' for Russian sovereign debt

Extended US sanctions on Russia that cause foreign investors to pull out of its bond markets is a potential 'black swan' for 2018 that could trigger big ruble falls, Bank of America Merrill Lynch (BAML) said in a note. BAML …

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Russia's Sberbank presents new strategy

Russia's Sberbank sees its annual net profit rising to around 1 trillion rubles ($17 billion) by 2020, according to a strategy plan published on its website. According to the document, Sberbank’s return on equity, a key …

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Georgia's state budget 2018 approved

Georgia’s state budget for 2018 will be 12 billion GEL, which is 943.8 million GEL more compared to 2017. Georgia's Parliament approved the financial document with 111 votes yesterday. While presenting next …

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