finances

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U.S. to provide additional $125 million to Ukraine

The Pentagon has notified Congress that Ukraine's government has made the necessary progress on key institutional reforms, thereby justifying an additional $125 million in new military assistance, including patrol boats armed with …

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IMF approves six monthsdebt relief for 25 countries

The Executive Board of the International Monetary Fund approved relief on debt service for 25 member countries that are eligible for support from the Catastrophe Containment and Relief Trust (CCRT), the IMF said. The approval …

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Foreign investment in Russian companies almost stops

Direct foreign investments in Russia’s non-banking sector during Q1 2020 reached only $0.2 billion, according to data from the Central Bank. For comparison, that figure in Q1 2019 was $10.3 billion, making for a more …

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Russia's central bank starts preemptive FX selling

The Russian central bank has started preemptive selling of foreign currency on the market today to lower market volatility after a steep drop in the rouble, the bank said. The move is aimed at "increasing the predictability of the …

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Europe's biggest bank to cut 35,000 jobs 

Europe's biggest bank HSBC has announced it will axe 35,000 jobs worldwide as part of a major restructuring after the bank’s profits fell by a third last year. The bank is aiming to scale back its headcount from 235,000 …

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Georgia, Ukraine and Moldova ask EU for money

The Foreign Ministers of Ukraine, Georgia and Moldova signed a joint appeal to the European Commission on the importance of proper financial support for the Eastern Partnership region as a part of the following EU Multiannual Financial Framework …

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Russian government buys Sberbank

Russian Finance Ministry announced that it would purchase the central bank’s stake in Sberbank, Russia’s largest lender. The finance ministry said it would buy the central bank’s 50%-plus-one-share stake in Sberbank …

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Russian Central Bank cut interest rate further

The board of directors of Russia's Central Bank has cut its key rate today by 25 bp to 6.00% per annum amid slowing inflation. Commenting on the decision, the regulator's press service said that inflation slowdown is continuing, …

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Why Coronavirus fears hit ruble exchange rate?

The dollar exchange rate increased to 64.01 rubles at the Moscow Exchange today. As of 11:26 Moscow time, the dollar was 64.04 rubles (+0.23%), and the euro - 70. 96 rubles (+0.11%). For the last time, the dollar exchange rate …

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Azerbaijan's Central Bank decreases interest rate to 7.25%

The Board of the Central Bank of Azerbaijan has decided to reduce the interest rate by 0.25 percentage points from 7.5 to 7.25%. The lower threshold of the interest rate corridor was reduced from 5.75 to 5.5%, while the upper threshold …

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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 …

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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 …

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