Following a strong valuation of its share price, Russia’s second largest lender, VTB, enjoyed a 5.4 per cent increase in its share price on Tuesday 18 August. The increase in price, to 0.043 roubles per share, came after reports from Reuters that its shares had been independently valued at 0.048 roubles per share. This represented [...]

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, a weakening rouble and an increase in [...]

The Russian Rouble fell 2 per cent to 32.24 per US dollar on Monday 17 August, which is the biggest drop since 10 July.

The economy in Russia is showing mixed signs, according to Federal State Statistics figures released for the quarter to the end of June 2009.

Russian car manufacturer AvtoVAZ has reported that it has spent almost all of the 33 billion roubles ($1bn) it was given in state loans and bridging loans in order to pay off debts to suppliers.

Following the announcement by Russia’s central bank that interest rates are to be cut for a fifth time, the Russian rouble has weakened to 38 versus a euro-dollar basket. This is the lowest point the rouble has fallen to in the last three weeks. Vladimir Osakovsky, analyst at Unicredit, acknowledged that the fall in the [...]

Russia’s second largest bank, VTB, has announced that it made a loss of 20.5 billion roubles in the first quarter.