finances

Bank of Russia keeps key rate at 7.75%

The Bank of Russia Board of Directors decided to keep the key rate at 7.75% per annum, the regulator said in a press release.  When grounding its decision the regulator noted that in January 2019, annual inflation held at the lower …

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Russia's investment in U.S. Treasuries declines again

Russia reduced investment in the U.S. treasury bonds by $1.815 billion on the month to $12.814 billion in November, the U.S. Department of the Treasury said. Since last year, Russia has slashed around 85% of its U.S. Treasury holdings, …

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 U.S. Congress estimates shutdown economic impact

The federal government shutdown cost the U.S. economy $11 billion, according to a new analysis from the Congressional Budget Office, reflecting lost output from federal workers, delayed government spending and reduced demand. The report …

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Saudi Arabia to spend $27 bln on industrial strategy

Saudi Arabia's government  plans to spend 100 billion riyals ($27 billion) in 2019 and 2020 as part of a new industrial strategy aimed at weaning the kingdom off oil income, creating jobs, and attracting as much as 1.6 trillion riyals in …

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Russia launches its own SEPA

Instant Payment System (IPS) is to be launched in Russia on January 28, 2019, Director of the National Payment System Department of the Bank of Russia Alla Bakina said at the system's presentation. Bakina noted …

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Ilham Aliyev approves Azerbaijan’s budget for 2019

President of Azerbaijan Ilham Aliyev approved the state budget for 2019 on Dec. 22, Trend reports. Revenue part of the state budget for 2019 is forecast to total 23.168 billion Azerbaijani manats (including centralized revenues …

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 Bank of Russia raises key rate to last year level

The Bank of Russia Board of Directors decided to raise the key rate by 0.25 pp to 7.75% per annum today. The regulator said in a press release that the decision taken is proactive in nature and is aimed at limiting inflation risks that …

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