Russia
Russia’s RTS spring rally pauses as investors take profits
With no new money flowing into ETFs, Russia’s spring rally paused this week as investors took profits following a strong start to the year.
ING: Russian industry hoping for a better 2020
Even though overall industrial production growth softened in 2019, some investment-driven sectors outperformed, including those focused on agriculture, oil downstream, chemicals, construction and transportation.
Russia’s industrial output grew 2.1% on the year in 2019 and 8.9% on the month in December
Russia’s industrial output grew 2.1% on the year and 8.9% on the month in December after rising 0.3% on the year in November
Russia's Watcom shopping index ends 2019 on five-year high as consumption recovers
The Watcom shopping index finished 2019 on a high note, putting in its best result in five years after under-performing for almost the whole year.
Russian Aeroflot carrier taking off for stellar 2020
Analysts are increasingly keen on the stocks of Russian national air carrier Aeroflot after it had a terrible 2019.
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Russia’s gross international reserves reach $557.5bn, surpass pre-crisis peak
Russia’s gross international reserves (GIR) topped $557.5bn on January 10, according to the Central Bank of Russia (CBR), surpassing the previous all-time high in 2008.
Slovenia ranks first in emerging Europe in social mobility
Most economies are failing to provide the conditions in which their citizens can thrive, said the World Economic Forum on releasing its new social mobility index.
East Asian investors ramp up investments in Central and Eastern Europe
China became the top investor in CEE in 2019, leading fellow East Asian investors that accounted for a growing share of M&A in the region. More deals are expected to follow, says a new report from law firm CMS.
Russia’s RTS spring rally gets boost from new government
The spring rally that got under way at the start of the new year has received a boost from Russian President Vladimir Putin's proposed constitutional changes and the appointment of a new government, as both the RTS and Moex Russia index hit new highs
ING THINK: Russia tempted to ease fiscal rule and spend more
Russia entered 2020 with a spending backlog of around 1% of GDP, which the new cabinet may now start unwinding. With the budget breakeven oil price below $50/bbl there is some space to increase spending.
ING: Russian balance of payments calls for caution over RUB
Balance of payments for 4Q19 suggests weakness in the current account and tells us that as much as $25bn of net portfolio inflows into local currency state bonds (OFZ) may be needed in 2020 in order to avoid ruble depreciation.
Berlin summit agrees attempt to stabilise Libya truce but oil blockade overshadows progress
Foreign powers agreed at a summit in Berlin on January 19 to try to solidify the unstable truce in Libya between the internationally recognised government, which is backed by Turkey, and the self-styled Libyan National Army (LNA) forces of warlord Kh
Iran was spooked by US stealth fighter reports when it shot down airliner says Lavrov
Russian foreign minister says at least six American F-35 aircraft flying in Iranian border area at time Tehran was expecting response to missile strikes on Iraq bases.
MOSCOW BLOG: Is Putin a megalomaniac?
Is Russian President Vladimir Putin a megalomaniac? The reaction of the commentatori to the huge changes in Russia’s political DNA suggested by the president was kneejerk and entirely predictable.
Head of Russian tax service Mikhail Mishustin appointed prime minister
The finale of a dramatic news day for Russia was the appointment of the head of the Russian tax office Mikhail Mishustin as prime minister to replace the outgoing Dmitry Medvedev, who resigned along with the whole government a few hours earlier.
UPDATED: Russian Prime Minister Dmitry Medvedev and entire Russian government quit
In what looks like a coordinated piece of political theatre, Medvedev said he thought it was “appropriate” to leave after President Vladimir Putin announced changes to the constitution that would have given Medvedev a lot more power.
Putin calls for constitutional changes to shift power to Duma during his state of the nation speech
Russian President Vladimir Putin called for changes to the constitution that would shift power to the Duma, the Russian parliament, as well as imposing some new limits to the president’s power, during his annual state of the nation speech.
Erdogan warns he’ll “teach lesson” to Libya warlord Haftar if he resumes fighting Tripoli government
Turkish president angered that general departed Moscow without signing brokered ceasefire agreement.
A maximum of RUB2-3bn are stolen from the Russian federal budget every year, says Kudrin
Audit Chamber Director Alexei Kudrin says a maximum of RUB2-3bn ($32.6-48bn) are stolen from the Russian federal budget annually, Vestnik reported on January 14.
A maximum of RUB2bn-3bn stolen from the Russian federal budget every year says Kudrin
The value of the Russian economy was $1.657 trillion in 2019, making the stealing equivalent to 1.9%-2.9% of GDP.