The Russian rouble is performing well on the foreign exchange markets, approaching a three-week high against the US dollar. This afternoon (4 July) the rouble maintained its drive against the dollar to push the dollar down to buying just 27.82 roubles at 16:20 BST. The last time the dollar dropped to this level was at [...]

The Russian rouble has witnessed some turbulence this week due to the fall in oil prices. A drop of 0.6 per cent was recorded against the dollar at opening on Monday 27 June, with concern regarding the financial situation in Greece adding to the oil issue. By the end of the day, the US dollar [...]

The rouble this morning climbed to a two-month high against the euro. Russian markets opened again today after a three-day weekend. Financial analysis shows that despite the gain on the euro, the rouble fell against the dollar, thanks to increasing risk aversion around the world. This risk aversion also affected the Russian stock market, with [...]

Russia's major telecommunications provider, Center Telecom, has posted a financial year-end profit of 6.7 billion roubles for 2010. The audited and consolidated IFRS results represent a 15 per cent increase on 2009 when the financial year-end profits were 5.87 billion roubles. The 2010 Operating Income Before Depreciation and Amortization (OIBDA) rose one per cent on [...]

Russia’s chief economic adviser has said that Russia needs more specialist engineers if its ageing industries are to modernise. Arkady Dvorkovich made the comments ahead of President Dmitry Medvedev's trip to the Urals city of Magnitogorsk later this week, where he will head a meeting about state modernisation. Dvorkovich told a press conference, "We have [...]

Russia may put a key part of its asset sale initiative on hold as rising oil prices reduce financial pressure on the Russian economy. Russia’s economy minister Elvira Nabiullina said that the planned sale of a 7.6 per cent stake in OAO Sberbank, the country’s biggest lender, may be cancelled or delayed. He said questions [...]

The Russian rouble steadied at the end of last week, ensuring that it stood at a nine-month high against the dollar. The dollar lost nearly 0.3 per cent against the rouble, reaching 29.23 roubles on the morning of 17 February. This was brought about mainly as oil prices bounced back from an 11-week low, with [...]

Russia’s planned debut rouble bond could be issued in the next month, the country’s deputy finance minister has told Reuters. Speaking at the World Economic Forum in Davos, Switzerland this week, Dmitry Pankin told Reuters Insider television that the bond should be worth between $1-3billion and that the amount would be based on recommendations from [...]

The transportation infrastructure in Moscow is expected to receive major investments from foreigners this year in a bid to solve its problems. The Mayor of Moscow, Sergei Sobyanin, has invited foreign investors from numerous different countries across the globe to bid in forthcoming tenders which are valued at more than 200 billion roubles. The money [...]

A new motorway connecting Moscow to St. Petersburg will push compensation for ecological damage related to the construction-related to four billion roubles. Sergei Ivanov, Deputy Russian Prime Minister, has announced that the government has now decided that the new high-speed road link will cross Khimki Forest near Moscow. As a result, the compensation payouts for [...]