Luxury goods are increasingly being used as a way for wealthy individuals to get more credit for investment. Using high-value goods such as art, wine, vintage cars and boats can prove a good way for individuals to get liquidity out of their assets to invest back into a business or to make large purchases. Whereas [...]

The Russian rouble has fallen to a low not seen in more than two-years, driven down by continued economic instability and the resignation of finance minister Alexei Kudrin. The official exchange rate fell to 32.46 roubles to the dollar, while the euro exchange also dipped slightly to reach 43.45 roubles. Kudrin's resignation this week (26 [...]

The Nord Stream pipeline, which runs from Russia through to Europe, will begin pumping gas today (6 September). Russian Prime Minister, Vladimir Putin, explained that the line will begin pumping technical gas near Vyborg. The 1,220 km pipeline will link the Russian city, which lies northwest of Saint Petersburg, to the German city of Greifswald, [...]

A substantial rise in three-month profits has been reported by Russia's state-controlled gas monopoly Gazprom. The group revealed that pre-tax profits for the first quarter of 2011 reached 591 billion roubles, which represents a 40 per cent increase on the same period last year. Meanwhile, sales were up by 38 per cent to 1.32 trillion [...]

The rouble has weakened against the US dollar following the conflict in Libya between Muammar Gaddafi and the rebel forces. At the close of play in Moscow yesterday (22 August, 19:00 local time), the rouble has lost 0.2 per cent to the dollar after gains of 0.7 per cent in the preceding week. However, against [...]

Credit rating companies have "clearly underrated" Russia, according to the country's Finance Ministry. Standard & Poor's, one of the largest ratings firms, have the Russian economy rated at BBB. This is the second lowest investment grade possible, making it similarly matched to Mexico. This is despite the fact that Russia's debt-to-GDP stands at 9.3 per [...]

The rouble gained some ground against the US dollar yesterday (1 August) due to improved risk appetite. News that the US managed to reach an 11th hour deal to raise the country’s debt ceiling and avert default buoyed investor appetite for commodity currencies on a global basis. The change in attitude marked the first improvement [...]

Russia is continuing with its plans to develop Moscow as a world-class financial centre. The development of a Canary Wharf-style financial region on the outskirts of the city is one of the major projects involved in building the reputation and services required to deliver such a centre. The idea has already been given the approval [...]

A recent survey has suggested that well-to-do Russians tend to look overseas when it comes to investment and wealth management. The research, which was conducted by UBS, showed that Russian business-owners are favouring European properties and the euro as they view them as safe havens. Indeed, the euro proved to be the most popular currency [...]

Russian politicians and investors are keen to develop Moscow as an international centre for financial services. The country’s government has been exerting pressure on the two major exchanges, Micex and RTS, to come to an agreement regarding the development of Russia’s financial services industry for some time. Now, the two have finalised a $5 billion [...]