The Black Sea resort of Sochi is to be transformed into a wintersports area for the 2014 Winter Olympics at a reported cost of 950bn roubles. Dmitry Chernyshenko, boss of the Sochi 2014 Winter Olympics, will head up the planning and construction of a new new winter community in the North Caucasus mountains, the construction [...]

Russian bankers have relied on the rouble bond market as a risk-free option for more than a year now. Thanks to central bank stimulus measures, Russian banks that are too wary to lend directly to corporates, have now found that they don't have to. The stimulus allows them to reap risk-free returns of 130-170 basis [...]

Helped by preparations for local tax payments and a rise in oil prices, the Russian rouble hit a 10-week high against the dollar yesterday. Oil prices, the rouble's main driver, held above $77 per barrel thanks to improving risk appetite and fears of disruptions in oil and gas operations in the Gulf of Mexico during [...]

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 [...]

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 [...]

Europe’s aid package for Greece saw the rouble gain the most in more than four months when trading opened on Tuesday after a public holiday. The Russian currency rose 0.6 per cent against the euro to 38.6000. The movements left the rouble at 33.9686 against the central bank’s target currency basket, which is used to [...]

The rouble strengthened versus the euro-dollar basket in early morning trading today, bolstered by strong oil prices. At 6.23 GMT the rouble had risen by 6 kopecks against the euro-dollar basket to 33.49, only 9 kopecks away from the current presumed Russian central bank floating currency boundary. The central bank monitors the rouble’s shifts within [...]

Having hit a new 15-month high on Monday, the rouble steadied in trading today. However, analysts predict that it is likely to strengthen again when monthly tax payments are due and by the upcoming roadshow for Russia’s Eurobond. Russian exporters are expected to convert their euro and dollar currency into roubles to meet tax payments [...]

The Russian rouble reached a new 15-month high versus the euro-dollar basket on Monday. This was brought on by sturdy oil prices, which reached their highest levels in 18 months. At 6.40am GMT on Monday the rouble was trading at 33.75, nine kopecks up on Friday’s close, and its highest level since the latter part [...]

The Russian central bank shifted the rouble's floating trading band for the 20th time in a month yesterday. Dealers said that this allowed the rouble to reach a new 14-month peak against the euro-dollar basket and the euro. The central bank moved the floating boundary to 34.00-37.00 roubles against the euro-dollar, from 34.05-37.05, following a [...]