Rouble News
Sberbank predicts 15-20 per cent growth for retail deposits
Russia's top lending institution, Sberbank, is forecasting growth of between 15 and 20 per cent in retail deposits for 2010 and predicts that deposit rates will continue to fall.
Sberbank is a huge state-controlled financial institution, dating back to the Soviet era, and is reputed to be the safest bank in the country. Following the global [...]
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Tax drop and weak rouble fuel Gazprom profit riseRussian energy giant Gazprom has revealed its profits surged 33 per cent between July and September 2009. Lower taxes and foreign exchange gains owing to a weakening of the rouble against the dollar have been credited with the rise.
Gazprom, which meets around a quarter of Europe's gas needs, said net profit for the third quarter [...]
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PricewaterhouseCoopers expects Russian bad debt to riseConsultants at PricewaterhouseCoopers (PwC) have revealed that they expect the level of subordinate loans in Russia to spike in 2009.
Central Bank
Russian central bank announces rate cutThe Russian Central Bank (CBR) today announced a cut of 25 basis points in its refinancing rate, bringing the rate down to 8.50%. The CBR hopes to stimulate growth in the economy with this monetary policy easing.
The strength of the rouble has been helping to keep inflation down and there is a small upside risk [...]
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