Global news and insight for corporate financial professionals
Amid expectations that the Russian economy had hit bottom, and despite a solid bounce in commodity prices since the beginning of the year, bad news continued to pile up. By Kim Iskyan Industrial production shrank by 17% in ...
The first meeting between US president Barack Obama and Russian president Dmitry Medvedev, at the Group of 20 summit in London in early April, appeared to lay the foundation for an improvement in relations, which had plunged to fresh post-Cold ...
EUROPE IN CRISIS Many of Europe’s former star economies are still struggling to find their feet after falling prey to the credit crunch. By Laurence Neville Emerging Europe is on the edge of a precipice. Already ...
ON A KNIFE EDGE TURKEY Turkey is well positioned to weather a global downturn, but it still faces some tough economic challenges. Tansan: Ankara must hold out for the best possible terms from the IMF. There was a ...
RUNNING ON EMPTY Russia is facing some tough decisions as it adjusts to a far more challenging economic and political environment. Just over a decade after Russia’s forced devaluation of the ruble and default on its ...
Sechin: Russia's deputy prime minister and Rosneft chairman. In a signal that the Russian government is increasingly aware of the financial constraints it is facing, a top Kremlin adviser said that the state would not be bailing out any more ...
Devaluation of the ruble is over, says Kudrin, Russia's finance minister. The Kremlin rolled out a revised version of its economic crisis plan, extending additional credits to the beleaguered banking sector possibly at the expense of direct loans to ...
EUROPE Cash is costly for Hammerson, developer of this UK cineplex With headlines dominated by bank bailouts totaling billions of dollars, it’s easy to get blasé about the scale of the challenge facing the global economy. Nevertheless, a ...
Sechin: Russia's deputy prime minister and Rosneft chairman In a signal that the Russian government is increasingly aware of the financial constraints it is facing, a top Kremlin adviser said that the state would not be bailing out any more ...
Banking crisis / central & eastern europe Central and Eastern Europe has suffered more than most regions as a result of the credit crunch. Some are concerned that economic turmoil may lead to social unrest. Ukrainian prime minister, Yulia ...
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RUSSIA Constant pressure: Ukraine and Russia tussle over gas supply contracts In what has become an annual ritual, just after the start of the new year Russia cut off the supply of natural gas to Ukraine—and, given the ...
RUSSIA Defending his legacy: Putin spends his way out of financial crisis. The Russian economy continued to slide down a slippery slope of economic crisis as a series of adjustments to the trading corridor of the ruble reflected ...
RUSSIA Deripaska: A dramatic turnaround The global financial crisis is sucking Russia’s oligarchs into its vortex. Information provider Bloomberg recently estimated that the combined wealth of the 25 richest Russians had plummeted 62% over the six-month period ended ...
CENTRAL & EASTERN EUROPE Central and Eastern Europe has transformed from a beacon of hope into a near basket case astonishingly quickly. Its recovery will be a far slower and no less painful process. Hard hit: Hungary was one ...
RUSSIA Medvedev: Struggling through a turbulent first year in office. The Russian government is struggling to contain a rapidly unfolding and sharply accelerating economic crisis. The ruble has continued to slide—the currency has devalued 10% against the dollar ...
RUSSIA The global flight from risky assets saw $1 trillion wiped off Moscow's stock market. Russia continued to be buffeted by the global financial crisis, with the country’s stock index plummeting nearly 70% from all-time highs ...
DR NEWS Eleven new companies, spun off from Russia’s former electricity monopoly, selected The Bank of New York Mellon as the depositary for their Regulation S and Rule 144A global depositary receipt programs. The bank is ...