Archive for June 2009

Putin orders banks to up loans by $16 billion

Jun 30th, 2009 | By | Category: Rouble News

Vladimir Putin, the Russian Prime Minster, has reacted to news that bad debts have tripled to 6% since the beginning of 2009 with a request to increase lending by at least $16 billion.

Sberbank to clear bad loan provision within 3-4 years

Jun 26th, 2009 | By | Category: Rouble News

State-controlled Russian lender, Sperbank, has announced that it expects to clear most of its current bad loan provision within four years.

Central Bank may free float rouble in two years

Jun 23rd, 2009 | By | Category: Rouble News

Head of the Russian Central Bank, Sergei Ignatyev, says that a free float of the rouble within the coming two years is the Bank’s “main goal” for the transition period.

Russian telecoms firm borrows $280 million in roubles

Jun 12th, 2009 | By | Category: Rouble News

In a rescue move after being hit hard by the recession, Russian fixed-line telecoms operator, North-West Telecom (NWT), is to borrow up to $280 million in roubles this year.

Central Bank cuts interest rates for third time in six weeks

Jun 9th, 2009 | By | Category: Rouble News

Russia’s Central Bank has, again, cut its interest rates on news that the recession may be reaching its lowest point.

Moscow workers want to relocate to regions

Jun 5th, 2009 | By | Category: Rouble News

Workers in Moscow are being tempted out of the big city and into the country’s regions by the attraction of more jobs and a cheaper life.

Rouble pushed too high by oil price increase

Jun 2nd, 2009 | By | Category: Rouble News

Concerns are rising in Russia that the rouble’s value has been pushed too high by the recent oil price increase to more than US$65 per barrel.