Jason's Feed
Oct 30, 2015

Russian central bank holds rates as high inflation trumps weak growth

MOSCOW, Oct 30 (Reuters) – Russia’s central bank left its
main lending rate on hold on Friday, for the second time in a
row, stressing inflation risks above worries about a stagnant

The decision leaves the bank’s benchmark rate, the one-week
minimum auction repo rate, unchanged at 11 percent.

Oct 29, 2015

Russian economic slump to persist as oil price languishes

MOSCOW (Reuters) – Russia’s economy will slump by almost 4 percent this year and barely grow in 2016, a Reuters poll predicted on Thursday, with forecasters expecting the country’s recession to persist as oil prices remain depressed.

The poll predicted that gross domestic product would end up shrinking 3.9 percent this and grow by 0.3 percent next year, only slightly better than a previous Reuters poll in September that predicted a 4 percent decline in 2015 and a 0.2 percent rise in 2016.

Oct 20, 2015

Investment tide may have turned for crisis-hit Russia

LONDON/MOSCOW, Oct 20 (Reuters) – With among the highest
bond yields in the world and fears of corporate debt defaults
receding, Russia is luring back some investors who seem to agree
with President Vladimir Putin that the crisis-hit economy is
over the worst.

Putin said last week Russia may have reached the peak of an
economic crisis worsened by last year’s oil price fall and
Western sanctions imposed to punish the Kremlin over its role in
the conflict in east Ukraine.

Oct 10, 2015

Russia steps up air strikes against Assad opponents in Syria

BEIRUT/MOSCOW (Reuters) – Russia said on Saturday it had stepped up its bombing campaign against Islamic State militants in Syria, while local observers said several of the air strikes had hit areas in western Syria where the hardline group has little presence.

Russia, a top ally of President Bashar al-Assad, started bombing in Syria on Sept. 30 saying it was targeting Islamic State and other opposition groups, a campaign that has drawn Moscow deeper into Syria’s more than four-year-old conflict.

Oct 1, 2015

Russian economic slump to be worse than expected: poll

MOSCOW (Reuters) – Russia’s economy will contract by 4 percent this year, a Reuters poll predicted on Thursday, with economists once again revising down their forecasts as evidence mounts of a protracted slump.

Forecasts have grown steadily gloomier for several months, as signs of a global chill caused by China’s slowdown add to problems for Russia caused by low oil prices and Western sanctions imposed because of the Ukraine conflict.

Oct 1, 2015

Russia’s import-substitution drive will take years – and may be misguided

MOSCOW (Reuters) – Russia’s drive to promote domestic products at the expense of imports is creating new opportunities for business, but it will take years for the benefits to show, participants at the Reuters Russia Investment Summit said.

They differed sharply on whether the strategy as a whole was beneficial or an example of misguided protectionist thinking.

Sep 30, 2015

Russia’s push to displace imports will damage economy: ex-WTO chief

MOSCOW, Sept 30 (Reuters) – Russia’s push to boost sales of
homegrown products while imports are hit by sanctions will be
economically damaging if past experience is any guide, the
former head of the World Trade Organisation, Pascal Lamy, said
on Wednesday.

Lamy, speaking at the Reuters Russia Investment Summit, said
that in the short term domestic producers could benefit but in
the long run consumers are likely to lose out because prices for
products will be higher.

Sep 28, 2015

No easy fixes as Russia’s budgetary troubles mount

MOSCOW, Sept 28 (Reuters) – The oil price collapse and
Ukraine sanctions have punched a hole in Russia’s finances, but
the government is fudging its response so far because the
solutions could hurt President Vladimir Putin’s popularity.

In the absence of a clear way out of this bind, Putin’s
government can only bicker about how best to respond, and play
for time.

Sep 26, 2015

Russia and Estonia swap alleged spies

MOSCOW/TALLINN (Reuters) – Russia and Estonia exchanged two men accused of espionage at a remote border post on Saturday in an episode reminiscent of a Cold War spy thriller that follows heightened tensions between the neighbors.

Russia’s Federal Security Service (FSB) said it handed over Eston Kohver, an Estonian security officer detained by Russia last year, in exchange for Alexei Dressen — a former Estonian official serving a 16-year jail term for being a Russian spy.

Sep 11, 2015

Russian c.bank keeps main rate on hold as economic woes mount

MOSCOW, Sept 11 (Reuters) – The Russian central bank left
its main lending rate on hold as expected on Friday, for now
putting concerns about stubbornly high inflation before worries
about a slumping economy.

The bank left its policy rate unchanged at 11 percent,
following five successive cuts this year that have reduced the
rate by six percentage points after an emergency hike to 17
percent last December.