finances

U.S. Fed Chairman comments on rate cut

U.S. Federal Reserve Chairman Jerome Powell said the central bank’s rate cut approved yesterday was part an ongoing move to adjust to economic conditions though no guarantee of future cuts. The Fed voted to reduce …

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Sberbank completes sale of DenizBank

Sberbank announces that it has completed the sale of its entire 99.85% stake in DenizBank to Emirates NBD Bank. In line with the sale and purchase agreement, the total revenue is 170.7 billion rubles, while Sberbank's …

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U.S. Fed to cut rates for first time in 11 years?

The U.S. Fed is poised to cut interest rates in hopes of shielding the 11-year economic expansion from growing global uncertainties. The Federal Open Market Committee, at the end of its two-day meeting this afternoon, is widely …

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Foreigners spend 115 mln manat in Azerbaijan in June

In January-June 2019, 1,410,700 foreigners from 185 countries visited Azerbaijan, up 6.5% from the previous year, according to the Center for Analysis of Economic Reforms and Communications. The foreigners spent 590,800,000 manat …

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Russian Central Bank's cautious rate cuts continue

The board of directors of Russia's Central Bank has cut its key rate today by 25 bp to 7.25% per annum. "Inflation slowdown is continuing. At the same time, inflation expectations remain elevated. Russian economy’s growth …

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Russia becomes leader in dumping dollar

Russia has became one of the main drivers in the process of dedollarization last year, the European Central Bank said in its June report on the strengthening of the role of the euro in the global economy. According to the authors of the …

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Is Bank of Russia ready to cut key rate?

Russia's Central Bank chief Elvira Nabiullina said that the Bank of Russia is ready to consider an opportunity for reduction of the key rate in the short run. "We raised the key rate at the turn of the last …

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Russia's Central Bank ready for rate cut?

Russian central bank Governor Elvira Nabiullina said that a cut to the key interest rate was still possible in the second or third quarter of 2019. The central bank has continued the policy of diversifying its …

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