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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 …
The world’s 500 richest people lost a combined $139 billion as markets buckled amid fears that the coronavirus will hammer the global economy. It’s the biggest wealth drop for the group since the Bloomberg Billionaires …
The White House sent to U.S. Congress its $2.5-billion supplemental budget proposal to fight the novel coronavirus. According to the U.S. Office of Management and Budget, over $1 billion will be used for vaccine development, and …
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 …
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 …
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 …
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, …
Russian tycoon Vladimir Potanin, one of core owners of metals giant Norilsk Nickel, has become the richest man in the Russian section of the Forbes Real-Time Billionaires list, which tracks wealth of tycoons in real time, with …
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 …
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 …
The Tesla and SpaceX CEO Elon Musk’s fortune swelled by $2.3 billion in the span of an hour after shares of Tesla Inc. soared. The electric-vehicle maker’s stock, which closed at $580.99, surged 12% to …
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 …
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 …
Total worldwide debt sat close to a record $253 trillion by the end of 2019, the Institute of International Finance estimated. This represented an increase from $250.9 trillion at the end of the second quarter of 2019. …
Global economic growth in 2020 is expected to grow at a modest rate of around 3.4 percent compared to its long-term average of a 21st century average of 3.8 percent per year, according to new projections by PwC, Business Review reports. …
While working on a message from the President of the Russian Federation to the Federal Assembly, Russian President Vladimir Putin admitted that he was "very concerned about the stagnation in real incomes of the …
Foreign direct investments in Russia will grow by about 70% as of the year-end, the Russian Direct Investment Fund (RDIF) chief Kirill Dmitriev said. "We definitely see the interest not merely from Middle East …
Georgia will be allocated $41.4 million to complete the Fifth Review of Georgia’s economic reform program. The decision was supported by the Executive Board of the International Monetary Fund (IMF). "Georgia’s economy …
The board of directors of Russia's Central Bank cut the key rate by 0.25 percentage points to 6.25% annually as inflation has slowed down faster than expected, the regulator said in a statement. "Annual dynamics of the consumer …
Russia's State Duma has passed a bill to increase minimal monthly wage by 7.5%, up to 12,130 rubles (over $190), starting January 1, 2020. Current minimal monthly wage is estimated at 11,280 rubles. Changes are …
