finances

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Russian Central Bank does not see more major bailouts

Russian Central Bank does not see more major bailouts

First Deputy Chairman of Russia’s Central Bank Dmitry Tulin said that about three-quarters of its plan to clean up the banking system are completed. According to Tulin, Russia’s central bank does not …

 Russia's Central Bank keeps key rate unchanged

Russia's Central Bank keeps key rate unchanged

The board of directors of Russia's Central Bank held its key interest rate at 7.75% today in line with market expectations, but said it could consider cutting rates as early as June. "If the situation develops in line with …

Azerbaijan's central bank cuts rate to 8.75%

Azerbaijan's central bank cuts rate to 8.75%

Azerbaijan’s central bank cut its refinancing rate to 8.75% from 9%, CBA Chairman Elman Rustamov said. The central bank also lowered its rate corridor by the same margin, nudging the lower boundary down to …

ADB providing loans to rural households in Georgia

ADB providing loans to rural households in Georgia

The Asian Development Bank (ADB) is providing a 60 million Georgian lari ($22.3 million) loan and a $500,000 technical assistance grant to Georgia's Credo Bank to launch new products including home improvement and mortgage loans to lower …

Russia refuses to place Eurobonds

Russia refuses to place Eurobonds

Russia's Finance Ministry sees no particular need to issue Eurobonds this year, Deputy Russian Finance Minister Sergei Storchak said. The Finance Ministry plans to focus on the domestic debt market, he noted, describing …

 MTS doubles estimate of potential losses in Turkmenistan

MTS doubles estimate of potential losses in Turkmenistan

Russia’s top mobile phone operator MTS said it has doubled its estimated losses from a long-running dispute with Turkmenistan to $1.5 billion. The company was forced to suspend services in the Central Asian republic in 2017 after …

Russia’s gold and forex reserves climb to record high

Russia’s gold and forex reserves climb to record high

Russia's gold and forex reserves have hit the 487.8 billion dollars mark, breaking a five-year record on 1 April, when the figure stood at 486 billion dollars, according to the Russian Central Bank’s data. This comes as the …

World Bank: remittances to developing world hit record in 2018

World Bank: remittances to developing world hit record in 2018

Money transfers to poor and developing countries hit a fresh record in 2018 and should become their largest source of external financing this year, the World Bank said. But, according to the bank, many banks and money transfer operators …

U.S. dollar weakening predicted

U.S. dollar weakening predicted

The U.S. dollar exchange rate against a basket of major currencies may drop by 6% by the end of 2019, according to Morgan Stanley experts. They expect the U.S. currency will depreciate because of the U.S .economic slowdown and the Federal …

Ruble is most stable among emerging market currencies

Ruble is most stable among emerging market currencies

Russian Central bank's first deputy chairperson Ksenia Yudayeva said that the Russian currency market demonstrated the most calm reaction compared to all others emerging markets. "There was a rather strong …

New bank established in Russia for first time in four years

New bank established in Russia for first time in four years

Russian Central Bank will register and grant a basic license to Bank 131 (Kazan), according to the central bank's statement posted on the website. According to the statement, the bank was granted a license to conduct all banking …

Russia’s Central Bank keeps key rate at 7.75%

Russia’s Central Bank keeps key rate at 7.75%

The board of directors of the Bank of Russia decided to keep the key rate at 7.75% per annum, the regulator said in a press release following the board meeting on Friday. "If the situation develops in line with the baseline …

Russia borrows record amount in the West

Russia borrows record amount in the West

Global Head of Debt Capital Markets at VTB Capital Andrey Solovyev said investors from the United Kingdom, the United States and Russia were the main buyers of dollar-denominated and euro-denominated Russian Eurobonds. …

Why is ruble going strong?

Why is ruble going strong?

The dollar exchange rate declined below 65 rubles during trading on the Moscow stock exchange last week, while the euro exchange rate dropped below 74 rubles. This week the dollar fluctuated near 64.5 rubles on Monday-Wednesday, …

Gazprombank presents its possibilities in Azerbaijan

Gazprombank presents its possibilities in Azerbaijan

Gazprombank is ready to participate in all Azerbaijani investment projects implemented on a project finance basis, the bank's deputy chairman Famil Sadigov said during the business seminar 'Azerbaijan on the way to the …