Russia’s key indices have bounced back on Tuesday, as President Vladimir Putin gave his first news conference since President Yanukovich of Ukraine was ousted. Putin insisted the market turmoil on Monday was a "tactical, temporary" decision by investors.
A second-wave of revolution, a missing President, and a treasury that is nearly empty, Ukraine is on the brink of bankruptcy. Kiev’s finance minister said it needs $35 billion in aid by the end of 2015.
For the first time Russia has entered the top 50 in Bloomberg’s Best Countries for Business 2014 ranking at 43rd. It's up 13 positions from last year primarily due to improved domestic consumption and WTO membership.
The revoking of licenses from 32 banks in Russia in just 6 months of last year is a vital measure to improve the country's investment profile, and "shouldn't be a concern" Andrey Kostin, the head of Russia’s second largest bank VTB told RT in Davos.
Violence on Kiev’s streets has sent the hryvnia to an almost 4-year low, with bond yields jumping 3 percentage points. Ukraine’s future economy depends on whether Russia delivers the promised $15 billion aid on time and in full, Chris Weafer told RT.
The world’s largest producer of potash fertilizer, a farming essential, will lower prices for some Chinese customers to $305 per metric ton. Uralkali says it signals a recovery in the market hit by last year's split of the world’s biggest potash cartel.
Countries hosting Gazprom’s European super pipeline will not have to revise earlier agreements that technically break EU law. Russia and the EU have agreed on further cooperation on a route that will satisfy Europe with 15% of natural gas needs by 2018.
The Kalashnikov Group has signed an exclusive contract with the Russian Weapon Company (RWC) to supply up to 200,000 guns to North America annually. It should boost sales in the world’s biggest civil weapons markets, while sales in Russia are shrinking.
Despite lackluster growth, 2013 was full of big deals and surprises for Russia. Putin released former oil tycoon Khodorkovsky after 10 years in jail, the first female central bank chair launched a massive ‘clean-up’, and much more!
On January 1, Russia began its Group of Eight presidency for 2014 and will host the 40th G8 Summit in the Olympic city of Sochi in June. This year’s G8 agenda will focus on fighting terrorism and drug trafficking, managing conflicts and disasters.