All entries by this author

Plans to float the rouble to go ahead

Jun 18th, 2014 | By | Category: Central Bank

Russia’s central bank has offered further indications that it is going to float the rouble at the beginning of next year. Confidence in the Russian economy has stabilised recently in the aftermath of Western sanctions placed on the country over its involvement in the Ukraine crisis. Yesterday (17 June), the central bank revealed that it [...]



Russian economy suffering from ongoing conflict in Ukraine

May 7th, 2014 | By | Category: Central Bank

Vladimir Putin’s war against Ukraine is already showing signs of damaging the Russian economy, experts have warned. Russia has witnessed a $50 billion capital flight in the first quarter of the year, something the Kyiv Post is attributing to the political and military efforts over the Crimea crisis. Furthermore, as western democracies begin to impose [...]



What will Sochi's Olympic Legacy look like?

Feb 12th, 2014 | By | Category: Asides

In the run-up to the Games, the 2014 Sochi Winter Olympics caused a stir for all the wrong reasons. International journalists were quick to criticise the country for its rushed attempts at preparing for the event, sharing images of unfinished hotels and conference rooms and criticising the “shambles” around the site. President Vladimir Putin's recent [...]



Russian firms taking cautious approach to investment

Sep 3rd, 2013 | By | Category: Central Bank

Russian firms are showing some cautious signs of reigniting investment, with reports coming through suggesting that targeted investment is receiving more and more attention. The 2013 American Express/CFO Global Business and Spending Monitor was released in Russia last month. Ahead of the release, Vladimir Salakhutdinov, country manager for American Express Russia, told The Moscow News [...]



Navalny jailed for embezzlement

Jul 19th, 2013 | By | Category: Asides

Alexei Navalny, leader of the opposition against President Vladimir Putin's United Russia Party, has been sentenced to five years in jail on the charge of embezzlement. The charge was brought on claims that Navalny headed a group that embezzled timber worth 16 million roubles (around £330,000) from the state timber company, Kirovles, in his role [...]



S&P holds Russia's BBB rating steady

Jun 28th, 2013 | By | Category: Featured

Ratings agency Standard & Poor's (S&P) has held Russia's investment rating steady at BBB. The decision will come as something of a blow to the government, which was hoping for its first upgrade in five years before potentially launching a $7 billion bond sale. However, the agency opted to keep the rating at the second-lowest [...]



Russia would welcome weaker rouble

Jun 19th, 2013 | By | Category: Central Bank

Russia would welcome a weakening of the rouble, so long as the drop in the exchange rate is market driven. This is the view expressed by the country's Finance Minister Anton Siluanov in discussions with Reuters. He added that the drop in the currency value would help to boost the competitiveness of Russia's export market, [...]



Rolls-Royce expects Wraith model to boost sales in Russia

Jun 12th, 2013 | By | Category: Asides

The debate surrounding the introduction of the high-end car tax in Russia has got luxury car manufacturers worried. But Rolls-Royce is confident that its new Wraith model will maintain interest in its brand. Lawmakers in Russia are currently trying to raise the tax on cars costing more than five million roubles. Preliminary approval was given [...]



Russians top fastest growing luxury hotel consumers

Jun 6th, 2013 | By | Category: Asides

Russians have been dubbed the fastest growing group of luxury hospitality consumers, with demand rising by 12.8 per cent. The Digital Luxury Group released the statistics, which found that growth in demand from Russians outpaced the other high-growth countries. Britons showed a 8.4 per cent increase in demand, while Chinese demand was up 3.3 per [...]



Russia becoming top retail destination

May 22nd, 2013 | By | Category: Featured

Retailers have long acknowledged the importance of the Russian market, but the region looks set to overtake some of its competitors this year. According to analysts at Cushman & Wakefield, within two years time, Russia is set to become the largest shopping centre in Europe. At the moment, France and Britain are well in the [...]