Under current conditions, it is necessary to rethink the value of exports, reorient production to the domestic market, and increase the degree of processing, according to Elvira Nabiullina, Chairman of the Bank of Russia. “We, as a country, are currently losing from participation in the international division of labor, because our exports are discounted and […]

The Russian stock market started today’s trading in the major on the background of mixed signals from external stock markets after the US Federal Reserve raised the interest rate by 0.75 p.p.. Stock markets in Europe ended the trading with a steady growth. American stock indicators grew yesterday by 1-2.5%. Today, the main indices of […]

U.S. Baker Hughes is recalling its service engineers for key process equipment (gas turbines and compressors) from NOVATEK’s (MCX:NVTK) Yamal LNG and Gazprom’s (MCX:GAZP) Sakhalin-2 projects, as well as project engineers from NOVATEK’s Arctic LNG-2 project under construction, Kommersant reported. The company is also halting all shipments of equipment for LNG projects in Russia, sources […]

The euro and Japanese yen are getting cheaper against the U.S. dollar after the publication of the results of the June meeting of the U.S. Federal Reserve. The Fed raised the federal funds rate by 75 basis points at once following the results of the two-day meeting, which ended on Wednesday. The last time the […]

The Central Bank of the Russian Federation will not force banks to lend to non-returnable or too risky projects, but is ready to “release” a part of risks into the system to finance transformation projects, Central Bank Chairman Elvira Nabiullina said at the session “Russian Economy: Modern Challenges and Points of Support” at SPIEF. “Structural […]

X5 Retail Group (MCX:FIVEDR) has reached an agreement with Finnish holding SOK Retail Int. OY, which had previously announced that it would cease its trading activities in Russia, to acquire the company that operates supermarkets under the Prisma brand in St. Petersburg, as well as a culinary shop. The deal will include 15 supermarkets and […]

Ilon Musk and his companies Tesla Inc. and Space Exploration Technologies Corp. (SpaceX) are facing a $258 billion lawsuit over their promotion of the Dogecoin cryptocurrency, Bloomberg reports. The plaintiff, Kate Johnson, claims that Musk and his companies created a fraudulent scheme to inflate the value of Dogecoin. “Defendants falsely represented that the Dogecoin cryptocurrency […]

Oil prices will remain high in the coming years due to the redistribution of supply in global markets, not even a possible decline in demand will affect its cost, analysts at Wood Mackenzie predict. “Lower demand will ease market tensions, but the cost of oil will remain high: a new and less efficient trade equilibrium […]

The US dollar and the euro are growing on the Moscow Exchange. The ruble is getting cheaper against the bi-currency basket amid various statements by representatives of the Russian authorities during the St. Petersburg International Economic Forum (SPIEF-2022). The first deals on the US dollar were held in the range of 56.69 – 56.95 rubles. […]

As of Friday morning, the number of reported cases of coronavirus infection in the world reached 537 million 867 thousand 964, according to data from the American Johns Hopkins University. Since the virus began spreading globally, 6 million 316,783 people have died from the effects of COVID-19 infection. Countries with more than 20 million cases […]

KAMAZ’s revenue in 2022 will decline due to a reduction in production of the most marginal modern K4-K5 models in favor of the simpler K3 models and a drop in export deliveries, according to company CEO Sergey Kogogogin. Kogogin told reporters on the sidelines of the St. Petersburg International Economic Forum (SPIEF) that the Russian […]

The Russian subsidiary of Google has filed a claim for its own bankruptcy in arbitration court, and the head of the Ministry of Economic Development warned of the risk of “sliding” into a deflationary spiral – these and other important news for Friday morning, June 17, in our daily review. Google LLC, a Russian subsidiary […]

Sberbank has resumed settlements in yuan, said the head of the credit organization Herman Gref during a business breakfast at SPIEF-2022. This is reported by RBC. “I will not discuss all the details now, we really had about a week stopped settlements, now they are restored for all categories of customers,” – said Gref later, […]

Mexico’s oil production, according to preliminary data, reversed the trend in May after declining for three months and increased by 0.6% against April, to 1.616 million bpd, according to the National Hydrocarbons Commission (CNH). The country produced nearly 1.7 million bpd in the same period last year. Including condensate, production in May amounted to 1.836 […]

“Tinkoff-Bank” has set the minimum amount for SWIFT-transfers – $20,000. The changes will come into force on June 16, reported in the official Telegram channel of the bank. “We are forced to introduce temporary restrictions due to an increase in the number of checks by Western partners and a decrease in the volume of payments […]

Although bitcoin has yet to test the major psychological threshold of $20,000, the cryptocurrency remains near this area, still showing a distinctly bearish trend from a charting perspective. Pressure on BTC remains strong amid a global market sell-off and a wave of risk aversion. The Nasdaq, for example, closed more than 4% lower on Thursday, […]

At the end of trading on Friday, the U.S. stock market did not demonstrate a unified dynamics: S&P and Nasdaq indices were in the plus, Dow Jones – in the minus. Nevertheless, all three indicators recorded the 3rd week of decline in a row. The Dow Jones Industrial Average fell by 0.13% to 29888.78 points […]

Senators together with experts will this month prepare and send to Rosaviatsia a package of proposals on wider use of drones in civilian spheres, the first deputy head of the Federation Council Committee on Budget and Financial Markets, Sergei Ryabukhin, said. “Together with the expert community, we have to formulate and spacket all the proposals. […]