Archive for November 2010

Central Bank may increase key interest rate in 2011

Nov 30th, 2010 | By | Category: Central Bank

Russia's Central Bank (CB) has announced that it may increase its key interest rate to eight per cent as of early next year. According to reports in Moscow's daily newspaper, thumb Kommersant, and the Central Bank is considering adding 25 basis points to its key rate within the first three months of next year. This [...]

Plans afoot to turn rouble into international commodities currency

Nov 23rd, 2010 | By | Category: Rouble News

Transforming the rouble into a commodities currency which is traded all over the world will be tough for Russia, drug say traders. The country hopes that the rouble with become an internationally-traded currency depends on curbing inflation and raising the spectrum of 'rouble-denominated instruments.' Kingsmill Bond, chief strategist at Troika Dialog, said, “The rouble is [...]

Moscow Mayor to sell off assets to fill gap in city's budget

Nov 16th, 2010 | By | Category: Central Bank, Rouble News

In a bid to fill in a large gap in Moscow's budget, this the city's Mayor has announced that he plans to plunder government assets. Company shares are to go up for auction as part of a privatisation programme to help City Hall to source another 13 billion roubles next year. This amount is more [...]

State purchase corruption costing Russia one trillion roubles a year

Nov 9th, 2010 | By | Category: Rouble News

Russia is losing up to one trillion roubles each year due to its state purchases system being rife with corruption and ineffectiveness. The announcement of the level of money lost each year has come as a big surprise as it is so high, medications even for an economy as large as Russia's. The corruption within [...]

3.66bn roubles invested in 7-year Russian corporate bond

Nov 2nd, 2010 | By | Category: Central Bank, Rouble News

Russia’s Federal Grid Company has issued a seven-year 15-billion rouble bond to The European Bank for Reconstruction and Development (EBRD), viagra sale making it the first Russian power company to achieve such a long maturity on a domestic bond. EBRD, ambulance whose investment in the bond amounts to 3.66 billion roubles, look has taken up [...]