Russia
ING: Russian balance of payments calls for caution over RUB
Balance of payments for 4Q19 suggests weakness in the current account and tells us that as much as $25bn of net portfolio inflows into local currency state bonds (OFZ) may be needed in 2020 in order to avoid ruble depreciation.
Berlin summit agrees attempt to stabilise Libya truce but oil blockade overshadows progress
Foreign powers agreed at a summit in Berlin on January 19 to try to solidify the unstable truce in Libya between the internationally recognised government, which is backed by Turkey, and the self-styled Libyan National Army (LNA) forces of warlord Kh
Iran was spooked by US stealth fighter reports when it shot down airliner says Lavrov
Russian foreign minister says at least six American F-35 aircraft flying in Iranian border area at time Tehran was expecting response to missile strikes on Iraq bases.
MOSCOW BLOG: Is Putin a megalomaniac?
Is Russian President Vladimir Putin a megalomaniac? The reaction of the commentatori to the huge changes in Russia’s political DNA suggested by the president was kneejerk and entirely predictable.
Head of Russian tax service Mikhail Mishustin appointed prime minister
The finale of a dramatic news day for Russia was the appointment of the head of the Russian tax office Mikhail Mishustin as prime minister to replace the outgoing Dmitry Medvedev, who resigned along with the whole government a few hours earlier.
UPDATED: Russian Prime Minister Dmitry Medvedev and entire Russian government quit
In what looks like a coordinated piece of political theatre, Medvedev said he thought it was “appropriate” to leave after President Vladimir Putin announced changes to the constitution that would have given Medvedev a lot more power.
Putin calls for constitutional changes to shift power to Duma during his state of the nation speech
Russian President Vladimir Putin called for changes to the constitution that would shift power to the Duma, the Russian parliament, as well as imposing some new limits to the president’s power, during his annual state of the nation speech.
Erdogan warns he’ll “teach lesson” to Libya warlord Haftar if he resumes fighting Tripoli government
Turkish president angered that general departed Moscow without signing brokered ceasefire agreement.
A maximum of RUB2-3bn are stolen from the Russian federal budget every year, says Kudrin
Audit Chamber Director Alexei Kudrin says a maximum of RUB2-3bn ($32.6-48bn) are stolen from the Russian federal budget annually, Vestnik reported on January 14.
A maximum of RUB2bn-3bn stolen from the Russian federal budget every year says Kudrin
The value of the Russian economy was $1.657 trillion in 2019, making the stealing equivalent to 1.9%-2.9% of GDP.
VIENNEAST COMPASS: Risk outlook 2020 – balancing in limbo
CEESE had a good year in 2019, with the economies in the region buoyed by increasing domestic consumption and capital spending that allowed the region to decouple from western Europe.
Moscow sees record housing built in 2019
Moscow saw a record of 4.96mn sqm of housing space completed in 2019, up by 40% year-on-year, and highest level of residential construction since the 1965 mass housing blitz carried out by Nikita Khrushchev.
How interconnected are the economies of Russia, Ukraine, Belarus and Kazakhstan? Inflation and rates outlook for 2020
In 1991 the Soviet Union broke apart and created 15 independent countries. But over the last three decades, while these countries are politically independent, the economies of Russia, Ukraine, Belarus and Kazakhstan (KRUB) remain joined at the hip.
Russia funds monthly wrap: ETFs beat the RTS in 2019, return over 50%
Russia’s RTS returned just under 45% in 2019 and all of the dozen exchange-traded funds (ETFs) that foccus on Russia did well, with a few beating the index and returning more than 50% to investors in 2019.
CEE monthly bond wrap: CE issuers raise $44.5bn and EE raises $29.9bn in 2019
2019 was a decent year for bond issues in Central and Eastern Europe, but still behind the vintage year of 2017.
Russia real estate legends to raise €140mn for fund with focus on last mile warehouses for the e-commerce sector
Three of Russia’s best known veteran real estate businessmen have come together to form L.O.P. to develop urban warehousing that targets Russia’s booming last mile e-commerce sector.
House arrest for Baring Vostok Calvey and partners prolonged
Moscow’s Basmanny Court on January 9 prolonged the house arrest of Michael Calvey, US citizen and founder of leading Russian fund Baring Vostok private equity firm, until February 13.
_Cropped_0.jpg)
OUTLOOK 2020 Russia
Russia’s economy is basically healthy and solid. It’s just not growing fast enough. The Kremlin is attempting to address this problem, but so far its efforts have been off to a slow start. 2020 should be the year when the pace picks up.
Russia's Yandex internet major could start virtual mobile operator
Russia's most valuable digital company Yandex is considering launching its own mobile virtual network operator (MVNO), Kommersant daily reported on January 9 citing unnamed market sources.
Russian rallies: RTS index breaks above 1,600 for the first time in seven years
Russia's RTS index broke through the 1,600 mark for the first time in seven years just as the traditional spring rally gets underway.