Leading Russian petrochemical company Sibur's revenues were down 7.8% year on year due to falling prices in ruble terms caused by the current economic crisis, but the newly completed ZapSib facility has cushioned the blow.
Russia’s Duma passes a law to allow remote voting in referendum on constitutional changes
The Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, is ready to start the mass production of a drug it claims is effective in the treatment of the coronavirus (COVID-19)
Special economic zones will help relaunch the economy, preserve and create new jobs, according to the bill. Opponents say it will allow Fidesz-leaning political bodies to allocate resources on the basis of political affiliation.
Russia's largest bank Sberbank reported net income of RUB11.5bn ($155mn) in April 2020, plunging by 85% year on year and 81% month on month, making a return on equity (ROE) of only 3%, the lowest since 2015.
Chisinau to use funds raised for infrastructure projects after $200mn loan offered by Russia was blocked by the Constitutional Court.
Investors might consider acquiring additional stakes if the uncertainty around the coronavirus pandemic that which forced the retail chain to close its stores causes a further fall in the share price.
“I’m fairly sure that we will end up there eventually,” says academic in response to prospect of IMF bailout or capital controls.
Arrests made after thousands of Montenegrins attended a religious procession in violation of a ban on gatherings because of the coronavirus pandemic.
Sales of rough and polished diamonds almost totally halted in April but Alrosa expects to see an upward trend in demand as early as in the beginning of 3Q20.
The National Bank of Belarus (NBB) will cut its refinancing rate from the current level of 8.75% per annum to 8% from May 20, the regulator said in statement on May 13.
With government warning of “perilous conditions” for economy, dollar hits strongest rate against rial in 22 months.
OSCE official denounced the detention and imprisonment of journalists, including freelancers, in authoritarian Belarus over the last few days.
Ukraine's parliament, the Verkhovna Rada, has adopted the so-called anti-Kolomoisky bank law in a final reading on May 13 that bans the return of failed banks to their former shareholders and clears the way for Kyiv to sign off on a new IMF deal.
Internet guru and owner of the Telegram message service Pavel Durov has halted his TON blockchain project and may have to return the $1.7bn he raised in the largest ever ICO to fund the project.
Romania prepares to ease lockdown to “state of alert” but opposition parties block law setting new regulations on containment and social distancing.
Critic says Erdogan’s cajoling to keep rates low has caused investors to dump lira. With FX reserves sinking, back-door ways to lift currency, such as by squeezing trade, will be needed, but will shred central bank's remaining credibility, they add.
Academics say directive may prompt journalists to self-censor for fear of being fined.
Russia's economy will shrink by at least 5% this year. The Kremlin needs to spend more to shorten the duration of the subsequent recession and has just introduced a third stimulus package.
Attention now shifts to the summer vote, for which the incumbent President Andrzej Duda will have to campaign during an unprecedented economic crisis in the wake of the coronavirus pandemic.