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Feb 27, 2014

Russian stocks plunge a second day, rouble falls on Ukraine tensions

MOSCOW, Feb 27 (Reuters) – Russian stocks plunged for a
second day and the rouble sank to a five-year low against the
dollar on Thursday, as investors took fright at unrest in
Ukraine’s Crimea region and sabre-rattling by neighbouring
Russia.

The dollar-denominated RTS index briefly shed more
than 3 percent on the day, after Russian media reported that
ousted President Viktor Yanukovich, wanted in Ukraine for mass
murder, had been offered sanctuary in Russia.

Feb 19, 2014

Shock investment slump and no Sochi surge deepens Russia’s economic woes

MOSCOW, Feb 19 (Reuters) – A dramatic slump in capital
investment by Russian companies in January pointed on Wednesday
to Russia’s ailing economy continuing to deteriorate fast.

There was no sign in data of a boost from preparations for
the Sochi Olympics as investment fell by 7 percent compared with
a year earlier, a huge undershoot compared with analysts’
forecasts in a Reuters poll of a 0.5 percent rise.

Feb 18, 2014

Russian central bank trims medium-term outlook, warns on rouble

MOSCOW, Feb 18 (Reuters) – Russia’s central bank said on
Tuesday the country’s output may grow by 1.7 to 2.0 percent in
2015-16, an outlook that underscores the weak state of the
economy.

The forecast, in a quarterly monetary policy report, implies
a downward revision compared with its earlier predictions. The
bank said in the previous quarterly report that it saw Russia’s
medium-term growth potential as 2-2.5 percent.

Jan 31, 2014

Russian central bank unlikely to raise rates to defend rouble

MOSCOW, Jan 31 (Reuters) – Russia’s central bank is unlikely
to follow other emerging markets and raise interest rates to put
a floor under its sliding currency – at least not for now,
analysts say.

But they warn that if the rouble’s depreciation goes on,
leading either to a panic among ordinary people or to much
higher inflation, the policy calculus could yet change.

Jan 15, 2014

OECD urges Russia to fix business climate and diversify

MOSCOW, Jan 15 (Reuters) – Russia needs to address its poor
business climate and improve education to reverse an economic
slowdown that is being compounded by its structural problems,
the Organisation for Economic Coopration and Development (OECD)
said on Wednesday.

The OECD said Russia’s economic downturn was primarily the
result of a slide in its growth potential, in addition to the
end of the period of fiscal expansion that preceded President
Vladimir Putin’s election to a third Kremlin term in 2012.

Jan 15, 2014

Russian central bank backs free float as economic shock absorber

MOSCOW, Jan 15 (Reuters) – Russia’s central bank has no
exchange rate target and is shifting towards a free float of the
rouble to insulate the economy from volatility on global
markets, First Deputy Chairwoman Ksenia Yudayeva said on
Wednesday.

The central bank’s top technocrat was addressing concerns
that emerging economies are vulnerable to cross-currents from
the withdrawal of U.S. monetary stimulus at a time when central
banks in Europe and Japan are still easing policy.

Jan 7, 2014

Ice hockey: Ovechkin leads Russian bid for gold in Sochi

MOSCOW (Reuters) – Washington Capitals captain Alex Ovechkin was named in Russia’s squad for next month’s Olympics in Sochi while veteran defenseman Sergey Gonchar and forward Alexander Semin were surprise omissions from the 25-man roster.

Forward Ovechkin is among 15 NHL players named in the squad, but Russia’s head coach Zinetula Bilyaletdinov is also banking on the strength of the domestic Kontinental Hockey League (KHL).

Jan 7, 2014

Ovechkin leads Russian bid for gold in Sochi

MOSCOW (Reuters) – Washington Capitals captain Alex Ovechkin was named in Russia’s squad for next month’s Olympics in Sochi while veteran defenseman Sergey Gonchar and forward Alexander Semin were surprise omissions from the 25-man roster.

Forward Ovechkin is among 15 NHL players named in the squad, but Russia’s head coach Zinetula Bilyaletdinov is also banking on the strength of the domestic Kontinental Hockey League (KHL).

Jan 7, 2014

Olympics-Ice hockey-Ovechkin leads Russian bid for gold in Sochi

MOSCOW, Jan 7 (Reuters) – Washington Capitals captain Alex Ovechkin was named in Russia’s squad for next month’s Olympics in Sochi while veteran defenseman Sergey Gonchar and forward Alexander Semin were surprise omissions from the 25-man roster.

Forward Ovechkin is among 15 NHL players named in the squad, but Russia’s head coach Zinetula Bilyaletdinov is also banking on the strength of the domestic Kontinental Hockey League (KHL).

Jan 7, 2014

Russia imposes security clampdown in Sochi before Olympics

SOCHI (Reuters) – Russian forces went on combat alert in Sochi and tightened restrictions on access to the Black Sea resort on Tuesday, exactly one month before the start of the Winter Olympic Games.

Aware that the success or failure of the Sochi Games will help shape his legacy, President Vladimir Putin has increased security across Russia following two suicide bomb attacks in the southern city of Volgograd which killed 34 people.