Archive for July 2009

Drop in airline traffic down to weak rouble

Jul 31st, 2009 | By | Category: Rouble News

A sharp drop in traffic for Russia's airline industry has been attributed to the weak rouble and rising unemployment. The country's Federal Aviation agency reported this week that there was a fall of 16.5 per cent in traffic during the six months to July. According to economic analysts, link a weakening rouble and an increase [...]



Russia’s state pension may invest in corporate bonds

Jul 31st, 2009 | By | Category: Rouble News

A document form the Russian Finance Ministry shows that the Russian state pension fund is planning to invest 40 per cent of its funds in corporate bonds.



Putin wants to lend Gazprombank billions

Jul 28th, 2009 | By | Category: Rouble News

Gazprombank may be set to receive a 75 billion rouble ($2.41 billion) loan from Russian state bank, VEB.



External borrowing and oil taxes to help fill Russian deficit

Jul 24th, 2009 | By | Category: Rouble News

Russian Finance Ministry sources have told Reuters that the country has plans to borrow $18 billion from abroad in 2010, which is almost double the external borrowing level for this year.



Gazprom expects profits from domestic sales this year

Jul 21st, 2009 | By | Category: Rouble News

Russia’s state-owned gas firm, Gazprom, has revealed that it is expecting to report profits this year from domestic gas sales.



Russian rouble continues to fluctuate

Jul 17th, 2009 | By | Category: Rouble News

The Russian rouble has rebounded this week, after dipping below the 39 mark versus a euro-dollar basket on Monday for the first time since March. Central bank interventions and a temporary rise in oil prices have been credited as factors that have strengthened the Russian rouble to 38.63 from 39.03 in the first few minutes [...]



Rouble value falls in response to oil price contraction

Jul 10th, 2009 | By | Category: Rouble News

The Russian rouble has fallen to a two-month low against the euro-dollar basket yesterday (9 July) due to a shrinking of oil prices. However, the Central Bank says the fall is not yet steep enough to warrant interventions.



Russia uses 5% of Reserve Fund in June

Jul 7th, 2009 | By | Category: Rouble News

Russia saw its reserve fund shrink a further 5% in June 2009 as the government used the money to cover its budget deficit.



Russian government considers bankruptcy legislation

Jul 3rd, 2009 | By | Category: Rouble News

The Russian government is finally considering a draft law that could allow overly indebted citizens to declare themselves bankrupt.