finances

Sberbank CEO could resign if...

Chief executive of Russia’s Sberbank German Gref said he could leave his post if a possible shareholder change at the bank results in a switch in its strategy. Gref is confident though that …

Read
Google parent company now worth $1 trillion

Google’s parent company Alphabet is now the fourth U.S. company to hit a market cap of $1 trillion. Apple was the first US company to hit a $1 trillion cap in 2018, followed later that year by Amazon (which has since dropped below …

Read
Global debt hits new record

Total worldwide debt sat close to a record $253 trillion by the end of 2019, the Institute of International Finance estimated. This represented an increase from $250.9 trillion at the end of the second quarter of 2019. …

Read
Global economic growth expected at 3.4 percent in 2020

Global economic growth in 2020 is expected to grow at a modest rate of around 3.4 percent compared to its long-term average of a 21st century average of 3.8 percent per year, according to new projections by PwC, Business Review reports. …

Read
Putin admits what bothers him most

While working on a message from the President of the Russian Federation to the Federal Assembly, Russian President Vladimir Putin admitted that he was "very concerned about the stagnation in real incomes of the …

Read
IMF approves decision to allocate funds to Georgia

Georgia will be allocated $41.4 million to complete the Fifth Review of Georgia’s economic reform program. The decision was supported by the Executive Board of the International Monetary Fund (IMF). "Georgia’s economy …

Read
Russia’s central bank cuts key rate by 1.5% this year

The board of directors of Russia's Central Bank cut the key rate by 0.25 percentage points to 6.25% annually as inflation has slowed down faster than expected, the regulator said in a statement. "Annual dynamics of the consumer …

Read
Russia’s minimal wage increased

Russia's State Duma has passed a bill to increase minimal monthly wage by 7.5%, up to 12,130 rubles (over $190), starting January 1, 2020. Current minimal monthly wage is estimated at 11,280 rubles. Changes are …

Read
UN reveals U.S. debt load

Spokesperson for the UN Secretary Stephane Dujarric said that the United States still has to pay $491 million of its assessment. "The U.S. has about $491 million left to pay," he said. In …

Read
Russia's Central Bank to cut key rate to 5%?

Assistant to the Russian president Andrei Belousov believes that potential for further easing of the Russian Central Bank's monetary policy after several consecutive cuts in the key rate remains quite high. According to him, …

Read
Russia’s budget surplus reaches 3.071 tln rubles

Russia’s budget surplus increased to 3.071 trillion rubles in January–October, as compared with 2.987 trillion rubles in January–September,according to the Russian Finance Ministry materials. Budget revenue amounted to …

Read
Sberbank announces losses from sale of Denizbank

Russia’s top bank Sberbank reported a 32% fall in third-quarter net profit, hurt by a foreign exchange loss due to the sale of Denizbank in Turkey. Sberbank sold Denizbank to Emirates NBD Group for 170.7 billion rubles ($2.7 …

Read

Populars