Konstantin Korischenko

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Russia to extend offshore wealth amnesty

Russian President Vladimir Putin ordered to extend the amnesty for de-offshorization of capitals and their return to Russia at the meeting with business leaders, head of Russian business association 'Opora Rossii' Alexander …

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Russian Central Bank to 'bail out' Promsvyazbank

Russia's central bank said that it had put Promsvyazbank under temporary administration as part of a bailout plan. The central bank said in a statement it was providing funds to support Promsvyazbank’s liquidity and would send …

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Russia's inflation reaches critically low level

Russia's annual inflation reached 2.5-2.6%, the head of the Russian Ministry of Finance Anton Siluanov said, speaking at the Financial University forum. "Our inflation is quite low - 2.5-2.6% (in annual …

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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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Oreshkin: Russia is US in early 1980s

Russian Economic Development Minister Maxim Oreshkin compared the current situation in Russia's economy with the state of affairs in the US economy in the first half of the 1980s. According to him, low and steady …

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Do Russian banks continue withdrawing from ARB?

A number of Russian banks are ready to follow the eight largest banks that have declared their readiness to withdraw from the Association of Russian Banks (ARB). "Those who disagreed with a policy of the head of the ARB Garegin …

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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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Russian industrialists want strong ruble

Most (66%) of the Russian industry sector believes that strengthening of the ruble will have a positive impact on their work, annual study of the international consulting company Deloitte shows. According to vice-president of the …

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Oil breaks the ruble

Russian national currency rate began to drop today following cheap oil prices, which dropped to $47.2 per barrel. The dollar rose to 58 rubles, while the European currency exceeded psychological mark of 65 rubles for the first time since February …

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Russian banks divided into basic and universal

Russian President Vladimir Putin signed a law on the division of banks according to the list of permitted operations, depending on their license. The document was posted yesterday on the official web portal of legal information. …

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Sberbank becomes most valuable Russian bank

Sberbank became the only Russian brand in the Top100 of the banking rating and the only Russian banking brand in the Brand Finance Global 500, its brand value has increased by 33% over the last year (almost 570 billion rubles).  …

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Is ruble defeating dollar?

The dollar exchange rate dropped today to 59.13 rubles during trading on the Moscow stock exchange. As for 14:30, according to the MICEX, the dollar was trading at a minimum of 58.95 rubles, but late increased a little. Thus, the ruble …

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Russian industry needs strong ruble

According to the 'What trends means' survey by the Central Bank, the majority of Russian manufacturers have found the strong ruble useful for them.'' 69% of respondents stick to this viewpoint, including 33% of …

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Golodets: expensive loans stifle Russian economy

Excessively high lending rates have a restraining influence on the development of the Russian economy, the Deputy Prime Minister of Russia, Olga Golodets, said. "Probably, today it is difficult to find any man who …

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