As part of the Russian post-crisis development programme, five billion roubles in subsidies are to be injected into small- and medium-sized businesses. The announcement by Russia’s Prime Minister Vladimir Putin is part of an anti-crisis drive by the government. Up to two billion roubles will be allocated to small innovation companies, while a further two [...]

Instability in the euro zone has resulted in decreased demand for high-yielding currencies such as the rouble – but the Russian currency remains one of the stronger commodity currency choices. After the weekend the rouble was down two kopecks to 34.57 when compared to the euro/dollar basket. Despite this, bank chiefs at ING Moscow say [...]

Positive figures just released by Sberbank have been offered by banking chiefs as evidence of the bank’s return to profitability. The significant increase in quarterly profits are believed to be the result of cost cutting by Sberbank, and a fall in provisions against bad loans. The net profits reported by the state-controlled bank of 43.5 [...]

The Russian central bank cut interest rates on Monday for the 14th time in 12 months and indicated that its foresees no further cuts at the present time, as the level should be correct for loans to be affordable and inflation to be contained. Effective from Tuesday, the benchmark refinancing rate in Russia will be [...]