With the 2011 surge in energy prices underlining the sector`s importance to the Russian economy Business RT spoke with Aton Chief strategist, Peter Westin about factors at play for the Russian energy sector, and it’s influence on the Russian economy.
The former IMF chief, accused of sexually assaulting a hotel maid, has been granted bail of US$1 million. Dominique Strauss-Kahn was the euro`s ardent protagonist and economists fear his arrest could lead to the demise of the currency.
With the Euro losing ground on investor concerns about the debt problems in Greece, Ireland and Portugal, Business RT spoke with Evgeny Nadorshin chief economist at AFK Sistema about the factors at play and the implications for Russia.
The Central Bank of Russia has lifted the refinancing rate from 8% to 8.25% as of May 3 in a move to ward off inflation.
Russia is suspending oil exports after fuel shortages hit the home market. As a result, pump prices are burning a bigger hole in drivers` pockets.
The leader of the world`s largest retailer predicts US consumers will face severe inflation on prices for food, clothing and other products in the coming months.
X5 retail group believes that Russia’s retail market will undergo a consolidation over the next five to seven years, and is positioning itself to remain a key player in a marketplace dominated by a small number of larger players.
With the US economy remaining weak, and with budget woes hitting confidence in the US dollar, talk about a new global reserve currency is mounting.
The AEBRUS says that 1Q Russian car sales are up 77% year on year to reach 517,304 vehicles.
With President Dmitry Medvedev saying the social tax rate - which pays for health care and pensions - should be lowered. Business RT spoke with Pyotr Medvedev a Partner at Ernst and Young.
With the government looking to boost Russian agriculture Business RT spoke with Aleksey Pavlov, Unilever group procurement operations director for Russia, Ukraine and Belarus, about how competitive Russian agriculture is, and what is changing.
President Medvedev has admitted that the investment climate in Russia remains "very bad" and urged measures that would help to make the economy attractive to investors.
China may gain access to the fast growing Russian-railway wagon construction market as early as April.
Russia`s retail market has significant innovation potential, but this doesn`t always translate into reality, with at the annual Consumer 360 forum hearing that Russian companines need to become more innovative.
A new Federal draft law about a national payment system is ready for a second reading in the State Duma. Its intention is to provide for all information about non-cash payments to be processed within Russia and it has become the subject of heated debate.
The Russian car market will grow by about a quarter in 2011 supported by government funds and economic recovery, analysts say.
What are the main issues Russians should consider before taking a mortgage?
Below is TNK-BP`s management response to inaccurate and misleading statements issued by BP Plc yesterday in relation to the TNK-BP Board meeting held in Paris on March 12.
On Tuesday, President Dmitry Medvedev ordered an investigation into overpricing practices at 2014 Winter Olympic construction projects.
For Japan its obviously going to be a very severe shock. You can see from the pictures that there is obviously going to be a lot of damage and disruption, particularly the warnings of power shortages. That could obviously extend the consequences across the broader part of the country and that is where the real effect will be. So its still very early and nobody, frankly, has any great idea to the extent of the damage or how long last it will be, or even the cost of rebuilding. So you can see that in the stock market behaviour this morning. People are just holding fire, waiting to see what happens next, particularly waiting to see if there is any follow up or any further events or any deterioration of the nuclear plants. But short term, we are going to see a big slow down, that`s inevitable, and then it`s a question of how quickly the country can start rebuilding and that, in terms of sequence, short term reaction will be very negative. Rebuilding on such a massive scale of course
The TNK-BP Board of Directors extraordinary meeting was held today in Paris. The only item on the Board`s agenda was a vote on the TNK-BP management`s proposal for the Company to participate in the Arctic exploration project and a share swap and with Rosneft instead of BP.
Some 25% of Moscow`s 2011 budget will be spent on infrastructure projects, a deputy mayor of the Russian capital, Vladimir Resin, said.
The move by Russia`s central bank to lift the refinancing rate at its last meeting brought economic focus back to inflation, with crude and commodity prices, the rouble, and the economic recovery all factors to be balanced in the response.
Net profit for Russia`s Baltika Breweries, which belongs to Carlsberg Group, fell 18% in 2010 to 19.171 billion rubles ($654 million) to IFRS, Baltika said on Monday.
Russia cannot afford to raise taxes for two to three years or it will face slower economic growth and a low level of modernization, Finance Minister Alexei Kudrin said on Monday.