Russian markets have been caught up in the global selloff which has seen the Dow Jones close 4.3% lower overnight with the FTSE 100 in London down 3.4%. In Moscow, the MICEX was 3% lower at 11.00 AM after opening 4% down.
The Asian markets have opened in negative territory on Monday morning, falling by around 2 per cent. Japan`s foreign minister announced that his country will be holding on to its US bonds for the time being.
Call it the industrial de-revolution. Manufacturing in America grew last month at its slowest pace since 2009.
The Moscow city government has officially closed all retail operations at the Luzhniki market.
The Russian Supreme Arbitration Court has freed non-governmental organizations from paying a tax on the donations they receive from foreign foundations. The tax officials wanted to levy a 24 percent profit tax on such donations.
Italy`s Enel Group and Germany`s E.On having launched new capacity in central Siberia, say that further investment is on the way for Russia`s dilapidated energy generation sector
Dutch electronics buying group, Euronics, is to continue its Russian expansion with retailer Elektronika, which had been put on hold because of the economic crisis.
The 2012 presidential election will be held a week ahead of schedule, on March 4 instead of March 11, as previously planned.
Alfa bank has announced new mortgage options for non-residents working in Russia under special conditions applicable for all secondary market residential real estate approved by the bank.
EU leaders have gathered in Brussels for an emergency summit on how to come up with the cash promised for a second bailout to Greece. While leaders squabble, failing to agree on how to resolve the crisis, the euro`s future hangs by a thread.
With gold prices hitting a new all time high above $1600/oz on the back of 12 days of rises, Business RT spoke with Ole Slot Hansen, Trading Advisory, Saxo Bank, about the outlook, drivers, and factors at play.
With the global economic outlook looking increasingly volatile Business RT spoke with Natalia Orlova, Chief Economist at Alfa Bank, about how the various global risks could impact upon Russia and how well prepared Russia is to deal with them.
Drastic spending cuts are on the way in Italy as parliament desperately tries to fend off a spiraling debt crisis. It seems the fairytale dream of a unified euro has met with harsh reality, and the collision may not be pretty.
Germany`s HeidelbergCement has opened a $420 million cement plant in Tula region.
The spectre of contagion is again on the loose in European financial markets with Italian sovereign debt spreads widening their highest level against German Bunds ever, and Spanish debt costs rising higher.
An Audit by the Central Bank of Russia has revealed the Bank of Moscow will need to create additional 212 billion roubles in new provisions by the end of 2011.
With Russian savings and the role played by saving in the Russian financial system currently in focus with attempts to encourage Russians to save more, Business RT spoke with Sergey Moiseev, Deputy Director of Financial Stability at the Bank of Russia.
A new major shopping development is to appear on the Moscow retail scene with the Vnukovo Outlet Village confirming it will open during 3Q 2012.
The Belarus Energy Ministry has confirmed that Russia had resumed electricity exports to Belarus on Saturday evening.
Germany`s Continental AG is withdrawing from its Russian joint venture Matador Omskshina, in which it owns a 50% stake. Sibur Russian Tires is expected to buy its partner`s share for $15 million.
The redistribution of power from federal executive bodies to regional and municipal authorities will spur economic growth, Russia▓s President Dmitry Medvedev said in his annual Budget Message.
Japanese car manufacturer Mazda and Italy`s Fiat are to spend $80 million and $1.1 billion respectively to start assembling cars in Russia.
Russia`s dream of developing its own hybrid cars is one step closer. The construction of the first Russian plant to produce a new generation of vehicles has started just outside St. Petersburg.
The joint venture between Ford and Russian car maker Sollers established in February 2011 is being given a turbo boost with a VEB Bank approved credit line of $1.4 billion to finance the production of new Ford vehicles in St.Petersburg and Tatarstan.
World markets fall after the US economy suffered its worst day of the year on June 1 with all signs pointing to more declines over the summer.