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Detroit 18.06.2010, 09:51 2 comments

Hope of recovery for former US auto powerhouse?

Detroit used to be one of America's premier auto manufacturers, but with the demise of its carmakers, Detroit’s residents are facing rising unemployment and crime in a city which has become a shell of its former self.

16.02.2009, 17:57

Consumer costs to continue growing

Russia is the leader among eleven developed countries in rates of inflation development and final consumption expenditure, according to the Federal Agency of State Statistics Rosstat.

01.10.2009, 16:25

Unimilk posts 1H 2009 Net Profit of 19 million Roubles

Leading russian dairy producer, Unimilk, has posted a 1H 2009 Net Profit of 19 million Roubles under IFRS.

15.01.2010, 14:32 1 comment

Chelyabinsk Zinc elects new board

Russia’s largest zinc producer, Chelyabinsk Zinc Plant, has elected a new board of directors.

30.07.2009, 11:54

Russians retain a taste for sweets despite the downturn

Even during an economic downturn, Russians haven’t abandoned their sweet tooth, with sales of sweets and chocolates holding up surprisingly well.

23.11.2009, 14:21

Kalina posts 9M 2009 Net Income of $13 million

Russia’s largest cosmetics and perfumery producer, Kalina, has posted a 9M 2009 Net Income of $13 million under IFRS.

15.03.2009, 12:41

Consensus at G20 Finance Minister meeting shaky?

Finance ministers from the world's top 20 economies have pledged to take ‘whatever action is necessary’ to tackle the global credit slump.

Illustration by Chris Angrisani
02.07.2009, 05:30

California declares fiscal emergency

As the U.S. has begun a new fiscal year, the state of California has failed to balance its budget, which now has a 26.3 billion dollar deficit. Governor Arnold Schwarzenegger has declared a fiscal emergency.

05.02.2009, 14:51

Rusal takes axe to output, costs and investment

UC Rusal, one of the world largest aluminium producers has embarked on a major cost cutting program which will see output axed and investment programs pared back as the company fights to restructure its debt.

20.02.2009, 18:45

'Power to the producers!'

Russian society at large will now be concentrating on giving more economic and political power to the producers of goods, says Matthew Maly, a Russian-American sociologist.

“Living within means"

Published: 20 February, 2009, 19:55

(19.5Mb) embed video

TAGS: Manufacturing, Crisis Chronicle, Economy, Finance


In the current situation it is difficult to satisfy financial needs of both the financial and non-financial sectors of the economy, so cutting expenses is the only answer to the crisis.

That's according to Evgeny Nadorshin, chief economist at Trust Bank.

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20.02.2009, 19:12

'Internet media suffers less'

The crisis affects media in different ways: television is affected less than print media, while the internet is affected less than either, but the crisis affects all of them anyway.

20.02.2009, 19:58

‘The whole system is grinding to a halt’

The single biggest problem the economy is facing right now is a lack of credit and funding.