Sergey Hestanov

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 Will Sberbank be privatized?

The chairperson of the Central Bank of Russia Elvira Nabiullina said that it would be possible to discuss privatization of Sberbank after the restoration of the Russian banking market and the growth of confidence …

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Will bitcoin take over the world?

Bitcoin would have become a good tool in the hands of artificial intelligence, if it intended to take over the world, Russia’s Economic Development Minister Maxim Oreshkin said, speaking at the International Festival of …

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Russia stocks up with dollars

Russian companies increased their foreign exchange reserves in cash, Russia's Central Bank said. As of July 1, 2017, the total amount of foreign exchange reserves in cash in Russian banks and other sectors amounted to $59.8 billion, …

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Russian companies pulling in less money

Russia's largest companies increased their incomes last year three times slower than a year earlier, according to the RBC 500 rating. The rating's participants increased their revenues by 4.2% in 2016, although a year …

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BRICS gains economic independence

On Monday, September 4, during the summit in the Chinese city of Xiamen, BRICS countries adopted a joint declaration, in which they agreed to take a number of economic measures. In particular, heads of BRICS states decided to create a bond fund …

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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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Russia to grow by 1.3-1.8%

Russia's Central Bank Governor Elvira Nabiullina said that economic growth of 1.3-1.8 percent is expected for this year. "The global economy is entering a new cycle of increasing cyber risks that endanger …

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Drop in oil prices cost each Russian $965

A drop in oil prices cost Russia $965 of gold and foreign exchange reserves per person to cope with the risks of devaluation of national currencies, the Izvestia newspaper reported with reference to the research data of FinExpertiza. …

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Russian Central Bank cuts key rate to 9%

The board of directors of Russia’s Central Bank has decided to cut its key interest rate to 9.00% per annum. "The Board notes that inflation is close to the target, inflation expectations keep declining, and economic activity …

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Government predicts 20 years of stagnation in Russia

This week, the government and the administration of the Russian president will start uniting the results of work of the Economy ministry and other agencies on the single action plan until 2025, the proposals of the Center for Strategic Research …

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'People's' bonds becoming popular

For the first day, the Russians bought government federal bonds for individuals - 'people's bonds' - in the amount of 696.8 million rubles, the Russian Ministry of Finance said. "The placed volume is 696,807 million …

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Russians do not want 'Mir'

More than two-thirds of Russians (70%) do not plan to open a "Mir" payment card, according to a poll conducted by the Russia Public Opinion Research Center (VCIOM). Only 20% of Russians plan to get the card, 3% already have …

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 Russian banks 'lost' 100 billion rubles in year

The Russian government is concerned about the reliability of the domestic banking system, the Russian Finance Minister Anton Siluanov said at the convention of the Association of Russian Banks. "We have lost more …

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Review of Russian banks extended until 2019

Russia plans to extend a review of bank licenses for another two years, shutting down scores more banks after closing hundreds in the past four years, mostly for committing fraud or other crimes, Russia's central bank deputy governor …

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