RT Arabic

Business

: (NYC) : (LON) : (MOW)

It seems your Flash Player is a bit dated, try loading a new one free here.

download embed

<object width="280" height="225">
	<param name="movie" value="http://russiatoday.com/s/swf/player.swf?file=http://russiatoday.com/v/2009-06-25/485707_central_bank.flv&image=http://russiatoday.com/s/obj/2009-06-25/central.jpg&controlbar=over&skin=http://russiatoday.com/s/swf/skin/stylish1.swf"></param>
	<embed src="http://russiatoday.com/s/swf/player.swf?file=http://russiatoday.com/v/2009-06-25/485707_central_bank.flv&image=http://russiatoday.com/s/obj/2009-06-25/central.jpg&controlbar=over&skin=http://russiatoday.com/s/swf/skin/stylish1.swf" type="application/x-shockwave-flash" allowfullscreen="true" width="280" height="225" />
</object>

Economy Finance Investment Currencies

Central bank believes Russian economy is close to bottoming out

permalink e-mail story to a friend print version

Published 25 June, 2009, 10:12

The Central Bank could lower its re-finance rate once again in July, says its re-elected head Sergey Ignatiev. The rouble could weaken further, but there are no evident reasons for that.

Yahoo StumbleUpon Google Live Technorati

del.icio.us Digg Reddit Mixx Propeller

The percentage of private bad loans has reached 5.5% – more than $6.5 billion dollars. Bad loans to non-financial companies rose to 9%. At the same time, capital adequacy continues to increase. Ignatyev believes the Russian economy is close to the bottom in terms of GDP performance.

“I am an optimist. I think that GDP will be better than the World Bank predicts. We will hit the lower boundary in the second quarter, if we haven’t already. I am referring to the lower boundary of GDP excluding seasonal factors.”

5/5 (1 votes)

rate this story

04:45 U.S. Senate votes to begin debate on Obama's health care reform

04:10 Karabakh settlement discussion

04:10 Azerbaijani, Armenian presidents to discuss Karabakh issue in Munich

04:10 Karabakh conflict discussion

03:11 Death toll from China coal mine blast rises to 87

02:15 Russia's purchase of French warship

02:15 Estonia alarmed over Russia's intention to buy French warship

01:07 Lithuanian, Belarusian, Ukrainian FMs to discuss cooperation in Kiev

RT asks

With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

vote view answers without voting

“Russia could definitely benefit from US help in IT” “This summit could help Russia get a little bit closer to the center of the world’s IT market, rather than staying on the periphery,” says Robert Farish, the Regional Director of research group IDC.

Presidential visit opens investment gate President Obama's visit to Moscow has given the business community hope of better trade ties, with American companies announcing major investments into Russia.

Upside on US Russia business ties At talks in Moscow with President Medvedev on Monday, Barack Obama will ask Russia to remove trade barriers, but RT met one US businessman making the current environment work.

Russian stocks enter doldrums as investors wait for triggers Russian stocks finished the week not far from where they started, with the shortened trading week in the U.S. helping to provide a respite after the sell off in June, ahead of the release of U.S. 2Q earnings reports.

Expats in Russia earn more The 2009 Expat Explorer survey, commissioned by HSBC International, shows that a third of the expats working in Russia earn more than $250,000 per year.

Business on the menu as President Obama comes to Moscow Dmitry Medvedev will welcome Barack Obama on his first Presidential visit to Russia, with strategic issues likely to dominate the agenda but economic ties also looking to gain a boost.

Pharmacy 36.6 posts 1Q 2009 Net Loss of 648.5 million Roubles Russian pharmaceutical retailer, Pharmacy 36.6, has posted a 1Q 2009 Net Loss of 648.5 million Roubles under IFRS.

Housing construction withers in the wait for funding Russia's housing construction sector has been hit hard with the mortgage market needing new sources of capitalisation before it can become affordable enough to boost building.

Gazprom pitches South Stream to the Turks Gazprom is in talks to build the vast South Stream gas pipeline to the EU through Turkish waters. Moscow wants to bypass unreliable transit states, but experts told RT Turkey will become a "Second Ukraine."

Unilever looks to cash in on Russian ice cream demand Global household and grocery goods producer, Unilever, is spending $140 million to build Russia’s largest ice cream plant.

Avtovaz posts FY 2008 Net Loss of 24.7 billion Roubles Russian automobile maker, Avtovaz, has posted a FY 2008 Net Loss of 24.7 billion Roubles under IFRS.

Gazprombank posts 1Q 2009 Net Profit of 16.6 billion Roubles Gazprombank, has posted a 1Q 2009 Net Profit of 16.6 billion Roubles under IFRS.

University leavers graduate to the unemployed queues 400,000 school and university students graduate this week. Many will go straight into the ranks of the unemployed. The head of the national jobs agency warned RT now is the worst time for young people to look for work.

M Video posts FY 2008 Net Profit of 1.25 billion Roubles Russian consumer electronics retailer, M Video, has posted a FY 2008 Net Profit of 1.25 billion Roubles under IFRS.

Russian car market soldiers through the doldrums The slump in Russian car sales has seen dealers and producers bring in a range of measures to keep customers buying but the short term outlook remains bleak, although there could be an upside over the longer term.

Lukoil looks to return to Iraq’s West Qurna For the first time in 37 years Iraq is inviting foreign companies to develop its oil assets. Among them is the West Qurna field, where Russia's Lukoil is bidding.

Looming rise in bad loans threatens economy Mounting levels of bad loans in Russia are creating concern about a new threat to an economic rebound. But analysts say the problem in Russia is different, with the governments support measures still to take affect.

Tax changes to bring more crude production and better profitability Russian oil companies have reversed their forecast that national production will fall over the next decade, after the government pledged new tax cuts.

Azeri gas deal brings Gazprom to the Caspian table President Dmitry Medvedev's visit to Baku on Monday, has seen Gazprom strike a deal to buy Azeri natural gas, and further cement energy ties between the resource-rich Caspian Region states.

Shell looks to LNG boost from Russia Russia has invited Royal Dutch Shell to take part in the Sakhalin-3 and Sakhalin-4 oil and gas projects in Russia's Far East.

Russia’s rich turn to cash during difficult times Russia's capital has hosted yet another celebration of the country's rich - the Millionaire Fair. That's just days after a report from Merrill Lynch, said the net worth of the world's top earners has fallen by a fifth.

Gazprom gets Ukraine assurance as potential of future beckons Gazprom has no doubt Ukraine will pay for gas deliveries on time this month. Ukraine’s Naftogas will buy only a third of the gas it contracted for - but without penalties.

Fisheries look to take bigger catch of Russian consumers Russia’s fishing industry is one of the few sectors growing this year despite the crisis. But the sector is still heavily dependent on imports with Market players saying legislation is holding the industry back.

Doubts linger on Opel deal General Motors wants to keep the right to buy back Opel’s shares, which is giving the Sberbank-Magna consortium doubts about the deal to buy GM's European operations.

Oil majors stump up for 2008 shareholders Major Russian oil companies will pay a 2008 annual dividend despite the collapse of oil prices and sales towards the end of the year. At shareholder meetings this week, most are also outlining strategic plans.

Financial reforms rusting by the roadside So the bankers are back to their old ways. The financial reforms, that three months ago politicians told us were urgent, are rusting by the roadside.

Economic crisis will not end soon In an exclusive interview with RT's Anastasia Churkina, Russia's Finance Minister Aleksey Kudrin speaks about the global economic crisis – how the world got here, and what will happen next.

World bank gloom on Russian economy as OECD looks for sharp rebound The economic crisis is changing the structure of Russia's population, boosting the number of poor and cutting the middle class. It's part of the World Bank’s forecast for this year - and it just got more gloomy.

PM’s supermarket visit puts spotlight on rising prices The state may soon control retail prices in Russia. A new legislation on retail business in Russia is to take its final shape in 10 days.

Russia’s ultra rich take hammering with their global peers The wealth of the world's rich and ultra-rich population has dropped by 20 % to $33 trillion.

Let’s tax sunshine & marijuana – ideas from NY

Masked gunman kills priest in Moscow

Efficient modernization – vision from Pres and PM

United Russia party should change itself – Russian president

In condoms we trust: can contraceptives cool the planet?

Youth group vows to get “Putin’s granny” out of psychiatric clinic

Corruption clouds ability to address economic reform

Prime Ministers put on smiles to fend off new gas dispute

PPP puts toll roads into overdrive

Severstal posts 3Q 2009 Net Profit of $66 million

RusHydro to oversee reconstruction of Boguchansk hydropower plant

Russian car buyers drop gear to go down market

Wal-Mart resignation throws further light on competitive Russian retail market

Remembering Mstislav Rostropovich

The forbidden fruit of political irony in art

A-ha back in Russia to say goodbye

On Air

Skiing chiefs threaten Russian Olympic committee

Rubin claim Russian football crown for second consecutive year

Sarkozy apologizes for Henry’s handball skills

Remember the Large Hadron Collider? It’s alive & kicking!

Cannibals survived brain disease epidemic thanks to a mutation

Fusion power project launch date doubted

My RT-custom sitebar

« previous page

myspace hit counter