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Banks Started to Experience Liquidity Shortages
25 september 2012
At present, development of the Russian banking sector is of a contradictory nature.
Russia’s Industrial Sector is in the Lead as Regards Attraction of Foreign Investments
24 september 2012
In the first six months of 2012, foreign investments in the Russian economy amounted to $74.8bn which is 14.7% lower than the index of the first six months of 2011.
The Impact of Saudi Arabia on Global Oil Prices Should Not be Overestimated
20 september 2012
Concerned about the problems of the global economy which suffers from high oil prices, Saudi Arabia offered its main customers in the US, Europe and Asia additional supplies of oil. As a result, it increased its production of oil to the 30-year maximum of 10m barrels a day, which situation triggered off the current drop in oil prices.
Falling for the Same Trap…(Some Thoughts on the Publication of the Draft Federal Budget)
19 september 2012
On 18 September 2012, the RF Ministry of Finance, in pursuance of Federal Law No 172-FZ, of 17 July 2009, ‘On Anti-Corruption Expert Review of Legal Acts and Draft Legal Acts', for the second time published on its website its draft of the federal budget for the next three years.
A Lucky Moment for Sberbank’s Privatization
18 september 2012
On 17 September 2012, it was announced that the Bank of Russia was to sell a stake in Sberbank. At present, Sberbank's charter capital consists of 21,586,948 thousand ordinary voting shares and 1,000m preferential shares. The Bank of Russia owns 13,006,469 thousand ordinary voting shares in Sberbank, or 57.58% of the charter capital, or 60.25% of the voting shares.
If the Eurozone Countries Fail to Consolidate, Europe May Face Collapse
17 september 2012
Europe has two alternatives in its further development - either to gradually move towards budget federalism, or to disintegrate. If the first scenario fails, the very idea of a united Europe will collapse.
Shall We Castigate the USA for Switching On the Printing Press?
14 september 2012
Late on 13 September 2012, the US Federal Reserve announced a third-round of a quantitative easing, or QE3; thus, they will spend $ 40bn a month on bond purchases.
The RF Central Bank Raises Its Interest Rates
13 september 2012
On 13 September 2012, the Bank of Russia announced that, from 14 September onwards, it would increase its rate of refinancing by 0.25 pp - from 8% per annum to 8.25% per annum; in addition, it increases by a similar value its interest rates on operations involving liquidity supply and absorption.
The APEC Member Countries Agreed to Work Together
12 september 2012
On 2-9 September 2012, Vladivostok hosted a summit meeting of the Asia-Pacific Economic Cooperation (APEC). As a result of the meeting, the leaders of the APEC member countries adopted the Vladivostok Declaration.
The WTO and the Asia-Pacific Region Will Help Russia to No Longer Depend on Oil
12 september 2012
In a short-term perspective, declining proceeds from hydrocarbon exports may cause a budget deficit - a problem that can be solved either by tapping government reserves or by increasing government debt.
Armenia Acceded to the CIS Free Trade Zone
11 september 2012
On 11 September 2012, Armenia's parliament ratified the agreement on the establishment of a CIS free trade zone. Thus, Armenia has become the fourth CIS member state after Russia, Belarus and Ukraine to ratify that document.
Monetary and Financial Alliance in APR is Possible
07 september 2012
On September 7, 2012, in the framework of APEC business summit, President of Russia Vladimir Putin stated he would not rule out a possibility of prospective monetary and financial alliance in the Asia Pacific Region (APR). The development of regional reserve currencies, which is already in progress, should contribute to this process.
APEC summit will accelerate the integration of Russia with APR
07 september 2012
On September 7, 2012, Igor Shuvalov, the First Vice Prime Minister of Russia said at the APEC business summit in Vladivostok, that in the forthcoming five - ten years the trade volume between Russia and Asia Pacific Region (APR) countries may exceed the turnover with the EU. Therefore, there is a need to accelerate integration and cooperation with the APR countries.
A budget deficit of 0.3% of GDP is not fatal for Russia
06 september 2012
Russia's Finance Ministry has worsened its forecast of the deficit of the RF Federal budget in 2012 to 0.2-0.3% of GDP from 0.1% of GDP approved by the law.
Global Competitiveness Index of the World Economic Forum
06 september 2012
On September 5, 2012 Analytical Group of the World Economic Forum has published global competitiveness index 2012-2013. This year index included 144 countries, against 142 countries in the last year.
Import prices will not be changed due to Russia accession to WTO
27 august 2012
On August 22, 2012, there came into force a Protocol on the Russian Federation Accession of to the Marrakesh Agreement on Establishing the World Trade Organization (WTO), and thus the RF became its 156th member.