Alexander Abramov

What does 2017 bring for Russian economy?

Transition from recession to modest growth was the main result of Russian economy this year, economists said in an interview with Vestnik Kavkaza, speaking about the most significant economic events of 2017. The advisor on …

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Bitcoin futures trading underway

The price of Bitcoin bounced back from a 4pc fall that followed the launch of a new set of futures in the cryptocurrency by the world’s largest exchange provider CME in Chicago. Its value on the Coinbase exchange fell from $19,375 …

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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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 Will Sberbank be privatized?

The chairperson of the Central Bank of Russia Elvira Nabiullina said that it would be possible to discuss privatization of Sberbank after the restoration of the Russian banking market and the growth of confidence …

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Russia’s Central Bank reduces key rate by 3%

The board of directors of Russia’s Central Bank decided to cut the key rate by 25 basis points (which is 3% of the previous rate of 8.25% per annum) at the meeting on October 27. The board said that inflation holds close to 4%. …

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Will bitcoin take over the world?

Bitcoin would have become a good tool in the hands of artificial intelligence, if it intended to take over the world, Russia’s Economic Development Minister Maxim Oreshkin said, speaking at the International Festival of …

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Ten more years of sanctions

Sanctions against Russia are likely to stay in place for at least the next 10 years, the country’s second-largest oil company has said, at a time of sharply deteriorating relations between Moscow and the west, Financial Times …

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 Russia's authorities concerned about too low inflation

Russia's annual inflation this month will be below 3%, which, however, can ot be assessed as a positive phenomenon in terms of deviation from the Central Bank's goal of 4%, the head of the Russian Ministry of Economic Development …

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Sberbank withdraws from Europe

Russia's Sberbank plans to leave the market of certain European countries due to sanctions imposed on it, Sberbank CEO and Chairman of the Board German Gref said.

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Is Russia’s B&N Bank on brink of collapse?

Russia’s B&N Bank, the owner of Russia’s 12th biggest lender by assets, has asked the central bank for a bailout, the regulator said today. The central bank said B&N Bank’s owners, a holding group controlled by …

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Increased faith in Russia's business

Business confidence in Russia's economy has reached a maximum level over the past two years, according to the survey of the Ernst & Young (EY), multinational professional services firm headquartered in London. "The survey …

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Russia's Central Bank expectedly keeps key rate

The board of directors of Russia’s Central Bank decided to keep the key rate at 9% per annum, the regulator said in a press release. The board of directors noted that inflation remains near the target level, and the recovery …

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Has Russian ruble 'matured'?

The declining role of foreign currency in Russia's economy is "a sign of a growing ruble', the Director of the Bank of Russia Monetary Policy Department, Igor Dmitriev, said. "Try to remember when you …

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Russia to grow by 1.3-1.8%

Russia's Central Bank Governor Elvira Nabiullina said that economic growth of 1.3-1.8 percent is expected for this year. "The global economy is entering a new cycle of increasing cyber risks that endanger …

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Drop in oil prices cost each Russian $965

A drop in oil prices cost Russia $965 of gold and foreign exchange reserves per person to cope with the risks of devaluation of national currencies, the Izvestia newspaper reported with reference to the research data of FinExpertiza. …

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Dollar exceeds 60 rubles again

Today the US currency during the trading process at the Moscow Stock Exchange has crossed its psychological barrier of 60 rubles for the first time since February 2017. The cost of the euro has crossed the barrier of 67 rubles for the first …

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