Dmitry Piskulov

IMF - body which is completely out of picture

Sberbank CEO Herman Gref, speaking at the International Organization of Supreme Audit Institutions (INTOSAI) Congress, described the International Monetary Fund (IMF) as the body which is completely out of the picture. …

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Are U.S. recession concerns rising with trade war?

Goldman Sachs Group Inc. is raising concerns of a U.S. recession as the trade war with China intensifies, boosting the impact on economic growth, Bloomberg reported citing a research note. The U.S. investment bank said it no longer …

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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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One third of Russians are in debt

Every third citizen of Russia (32%) make payments towards a loan, according to the research conducted by the Magram Market Research agency. Two thirds of them (63%) pay cash loans, 37% pay mortgage loans. Most often, Russians with …

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Global debt hits $184 trillion

Global debt hit a record $184 trillion in 2017, equivalent to more than $86,000 per person - more than double the average per-capita income. Overall, the amount of worldwide public and private debt is equal to about 225% of gross domestic …

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Ruble currency storm put on hold

Russia's ruble exchange rate rose today on the Moscow Exchange. At the moment of the opening of the stock exchange US currency traded at 67.11 rubles, in an hour it reached a low of 66.51 rubles, as of 11:10am (MSK).  …

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Will trade wars undermine global economy?

Escalating global trade war could cut world GDP growth to 2.8% from 3.2% (by 0.4%), according to Fitch Ratings 2018 “Global Economic Outlook” baseline forecast. According to the agency, the U.S., Canada and Mexico would be …

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Moody's upgrades outlook on Russia's sovereign rating

Moody's rating agency has changed the outlook on Russia's Ba1 long-term issuer and senior unsecured debt ratings to positive from stable. Moody's also affirmed Russia's long-term ratings at ‘Ba1’, the agency said in a …

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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: another day, another record

Bitcoin exchange rate soared more than 23%, smashing through the $18,000 benchmark for the first time ever, according to the data from Coinmarketcap.  The exchange rate surge over the past day amounted to $4,000. On …

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Russia buying gold

Russia should increase a share of gold in its state reserves to beef up national security, the First Deputy Chairman of Russia’s Central Bank Sergey Shvetsov said. "The Bank of Russia and other countries give …

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Moscow Exchange to start trading Turkish lira

The Moscow Exchange plans to start trading the Turkish lira and the Japanese yen against the Russian rouble next year, the head of currency market development at the exchange Dmitry Piskulov said. Piskulov said …

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Will Russia abandon dollar due to sanctions?

Russia will speed up work on reducing its dependence on U.S. payment systems and the dollar as a settling currency in response to U.S. sanctions, Russia's Deputy Foreign Minister Sergei Ryabkov said. "We will …

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Will Crimea become offshore zone?

Crimea’s government is considering setting up an offshore zone on the peninsula, the head of Crimea Sergey Akksenov said. "The idea is only being discussed,” including by the Russian Ministry of …

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Andrei Kostin: dollar to decline by six rubles

Until the end of 2017, the ruble exchange rate may strengthen by 10%, the head of VTB Andrey Kostin said. "We believe that the ruble had to strengthen, but it was before  the government announced the …

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US Interest rate expected to reach 3%

The US interest rate will likely increase several times a year reaching 3 percent by the end of 2019, US Federal Reserve Chair Janet Yellen said at the Commonwealth Club in San Francisco on Wednesday. The Federal …

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