Dmitriy Borodkin

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Banks beat retreat from sanction-hit Russia

Barclays and RBS cut loans, while Standard Chartered closed its office last year<p>Standard Chartered closed its Moscow office and Barclays cut loans to Russia by £1.3bn, as British banks beat a retreat from the sanctions-hit country last year, it has emerged.<p>Royal Bank of Scotland and HSBC also put …

Investing

Adidas to close 200 stores in Russia in 2015 because of weaker ruble

The Adidas Group will close 290 unprofitable stores worldwide with some 200 in Russia, according to the annual report, published Tuesday. However, …

Russian Economy Was Doomed Before Ukraine

The Russian economy finds itself in increasing trouble. The price of oil, Russia's most important export, has plummeted since last summer. The ruble …

Which are the best countries in the world to grow old in?

Pensions and healthcare benefits vary widely across the globe as do people’s perception of their happiness<p>Australia’s notoriously labyrinthine $150bn (£75.8bn) welfare system last week underwent a major review, which essentially recommended an overhaul. However the Commonwealth-funded age pension …

Retirement

World News

When Trump and Kim meet on the resort island of Sentosa on Tuesday they will be making history even before they start.<p>The initial sense is that the …

Ouch! Russians could spend 55% of income on food

Things could be about to get even tougher for ordinary Russians, with rampant inflation and a reduction in real wages in the country meaning that …

Russia Warns Of Capital Flight, Market Considers Capital Controls

Russian Finance Minister Anton Siluanov said the economy could witness as much as $100 billion in capital flight this year, though most of it will result from companies paying down foreign debts.<p>“This amount includes some $60-70 billion in payments of external debts,” Siluanov said, adding he …

Rampant inflation means Russians are spending half of their incomes on food this year

Russian inflation is now back over 15% for the first time since 2008, and self-imposed import sanctions on food from the EU are biting hard, driving up food prices in particular.<p>Most amazing about the surge in Russian food spending is that it is not confined to this year or last: The share has been …

Vladimir Putin

Russia is demanding full repayment of a tiny, Soviet-era loan it gave to Nepal

It is not clear why Russia is bothering to collect such a small, old debt. But given Russia's troubles — its currency has collapsed along with its economy, and demands on its foreign currency reserves have sharply increased — and the mercurial nature of president Vladimir Putin, it is temping to …

Russia

Russian President Putin cuts staff's salaries by 10%

<b>Russian President Vladimir Putin has announced that the salaries of his staff are to be cut by 10%.</b><p>The move follows a proposal to slash 10% from MPs' salaries and ministry spending, and to use billions of dollars from an emergency fund.<p>Russia's economy has been badly hit by low oil prices and …

Russia

Russia to cut its deficit woes by dipping into its savings

Russia will dip into its emergency reserve fund to the tune of more than 50 billion dollars to stop its deficit, hit by falling oil prices and a slumping economy, from rising too far, says the finance ministry.<p>This would mean more than half of the fund disappearing in less than a year, underlining …

Rosneft's currency volatility accounting trick

Under the changes that became effective on October 1, 2014 Rosneft is recording the impact of currency fluctuations when they materialize instead of …

Reduced to rouble? An update on the Russian economy

Recent events in Ukraine have shown that Russia is determined to change the balance of power in Europe. Whether Vladimir Putin can be stopped by …

This Bizarre Russian ATM Wants to Lend You Money

Walking past a row of vending machines and ATMs at the Kursky train station in Moscow, Sergei Amirkhanov stops in front of a bright orange cash …

Russian Ruble Re-Crashes As Crude Carnage Continues, Indian Steel Mills Threatened

<b>The Russian Ruble is re-crashing again today</b> (higher by 3 handles and back above 66 RUB to the USD) as crude oil continues to plumb new depths. …