Wednesday, October 17, 2018

Tag: Ruble

Can Russia Learn From Brazil’s Fate?

William Engdahl recently explained how Washington used the corrupt Brazilian elite, which answers to Washington, to remove the duly elected President of Brazil, Dilma Rousseff, for representing the Brazilian people rather than the interests of Washington. Unable to see through the propaganda of unproven charges, Brazilians acquiesced in the...

Erdogan Threatens To Abandon US Dollar In Trade With Russia

The unexpectedly sharp antagonism between Turkey and the west accelerated today, and one day after NATO preemptively reminded Turkey that it is still a NATO alliance member and advising Ankara that "Turkey’s NATO membership is not in question", Turkey had some more choice words for its military allies. Cited...

Will Russia Reject Neoliberalism?

According to various reports, the Russian government is reconsidering the neoliberal policy that has served Russia so badly since the collapse of the Soviet Union. If Russia had adopted an intelligent economic policy, its economy would be far ahead of where it stands today. It would have avoided most...

China and Russia continues to buy into bullion

The strength of the U.S. dollar is boosting gold sales in China and Russia as the two countries bulk up their official reserves with bullion. Returns on European currencies have continued to creep lower, with the Euro causing particular concern for global investors. With weaker than expected economic data...

The Role of Sanctions in U.S.-Russian Relations

Sanctions are a critical tool in persuading Russia to change its Ukraine policy. But the West’s overreliance on them risks undercutting their long-term effectiveness. Sanctions have been a central element of U.S. Russia policy following Moscow’s annexation of Crimea and the beginning of the undeclared war in eastern Ukraine. They...

Gold Rush by Russia Makes Up for Billions Lost in Currency Rout

Here’s why Governor Elvira Nabiullina is in no haste to resume foreign-currency purchases after an eight-month pause: gold's biggest quarterly surge since 1986 has all but erased losses the Bank of Russia suffered by mounting a rescue of the ruble more than a year ago. While the ruble’s 9 percent...

Amid Talks of Production Freeze, Russian Oil Already Facing Decline

Russia's oil production hit 10.9 million barrels per day (mbd) in January 2016, the highest level since the collapse of the Soviet Union. But that could mark the peak for Russia’s oil production as it enters an extended period of gradual decline. Rosneft, which at 3.8 mbd accounts for more...

Dollar Falls to Five-Month Low on Slower Fed Rate Path Outlook

The dollar fell to a five-month low against the euro on speculation the Federal Reserve will take a slower path to higher interest rates as the central bank factors in headwinds from slowing global economic growth. A gauge of the U.S. currency headed for the biggest quarterly loss since 2010...

Don’t listen to the ruling elite: the world economy is in real trouble

Andy Xie says those attending the G20, Davos and other wasteful meetings are wrong to try to pin the blame for the turmoil on people’s psychology; all signs point to a prolonged period of global stagnation and instability. The G20 working group meeting in Shanghai didn’t come up with any...

Russia Calling Off Dollar Buying Bolsters Ruble as Oil Gains

The ruble ended five days of losses as the Bank of Russia stopped daily purchases of foreign exchange, signaling policy makers don’t want to add impetus to the currency’s decline before an interest-rate decision this week. The ruble rallied as much as 1.8 percent after the central bank said it...

Russian ruble slides to record low in Moscow trading

MOSCOW (AP) — The Russian ruble slid to a record low against the dollar Wednesday under pressure from the low oil price. The ruble traded above 81.8 to the dollar in Moscow on Wednesday evening, down by around four percent. That beat the mark of 80.1 set when the currency...

Russian oligarchs lose $11bn in just 10 days during oil price crash

The gilded generation of Russia's richest men have suffered drastic losses during the market turmoil this year, hastening the end of an era of world dominance. They rose from nothing to accumulate wealth on an unimaginable scale. But the era of the Russian oligarch is now drawing to a close,...

Dow Sinks 390 Points in Global Selloff, Crude Falls Nears $29

Stocks tumbled around the world, with U.S. equities sinking to their lowest levels since August, and bonds and gold jumped as oil’s plunge below $30 sent markets reeling. Treasuries extended gains as economic data and earnings added to concern that global growth is faltering. The Dow Jones Industrial Average sank 391...

Medvedev: Russia’s Economy Must Prepare for Worst-Case Scenario

Russian Prime Minister Dmitry Medvedev said the Russian economy is looking better than one year ago but must prepare for the worst-case scenario as it continues to suffer from low oil prices and the impact of Western sanctions. Speaking Wednesday in Moscow at the annual Gaidar Forum on economics, Medvedev...

Recession, retrenchment, revolution? Impact of low crude prices on oil powers

A glut of oil, the demise of Opec and weakening global demand combined to make 2015 the year of crashing oil prices. The cost of crude fell to levels not seen for 11 years – and the decline may have further to go. There have been four sharp increases in...

Has a Currency Collapse Already Started?

Yesterday, oil plummeted to its lowest level in nearly seven years... The price of oil fell 6.2% to $37.65, its lowest level since February 2009. Oil has now fallen an incredible 65% since peaking at $106 in June 2014. The world has a massive oil surplus right now. The oil stockpiles...

More Russian oil drilling shows its resolve to OPEC

MOSCOW, Russian oil firms are drilling more, showing the world's top crude producer is ready for a longer fight for market share with OPEC, as its industry can carry on even if oil prices reach $35 per barrel. As OPEC prepares to meet on Friday in Vienna, Russia is sending...

Russia Sees Biggest Decline in Wages, Retail Sales Since 1999

Russian wages and retail sales declined by the most since 1999, a sign consumer demand will remain a weak link in the economy’s efforts to break out of its first recession in six years. Real wages fell 10.9 percent in October from a year earlier, a deeper contraction than the...

The Commodity Currency Plunge Is Making the Oil Crash Even Worse

Crude bulls, stung by the worst July on record, should expect further pain as slumping commodity currencies cut production costs. Drillers from Russia to Canada, the world’s second- and fourth-biggest oil producers, sell crude in U.S. dollars while paying most operating costs in local currencies. The Canadian dollar dropped to...

The Worth of Gold Growing by the Day

The worth of gold in the world is growing by the day. That might seem like a paradox but it isn’t. The worth of gold is not fixed on the Comex futures exchange, or the trade in London or Zurich. True, most of the gold-trading public takes its cue...

Western sanctions are hitting Russia harder than people realized

Sanctions linked to the Ukraine crisis could end up costing Russia 9% of its gross domestic product, the International Monetary Fund has said. Russia's economy is showing signs of stabilisation after slumping under pressure from Western financial sanctions and Russian counter-measures. Low international prices for its oil exports have added to...

IMF Says Sanctions Take Toll On Russia

Economy faces loss of as much as 9% of its inflation-adjusted value of goods and services. MOSCOW - Russia's economy faces the loss of as much as 9% of the inflation-adjusted value of the goods and services it produces if Western sanctions and Moscow’s retaliatory measures remain in place in...

Ties between China and Russia warm even as trade cools

Bitter economic winds blow cross the border as Russia's recession hits businesses. The warmth of the friendship between President Xi Jinping and his Russian counterpart Vladimir Putin - who met yesterday for the eighth time in two years - does little to counter the bitter economic winds blowing through their...

As Russia’s Stock Market Soars, Ukraine Stuck In ‘Frozen Conflict’

I can hear it now: nice going FORBES, valuing money over people’s lives. A disclaimer: this is the investment channel. And that means crisis is looked at through the lens of economic pain and gain, not who is a better president: Poroshenko or Putin, nor the history of Crimea...

In Talks With Merkel, Putin Calls for Improving Relations With Europe

MOSCOW — President Vladimir V. Putin used a visit on Sunday by the German chancellor, Angela Merkel, to call for a return to normal relations with Europe, brushing aside the widespread boycott by Western leaders of the huge Victory Day parade on Red Square a day earlier. “We do face...

Here’s What Putin’s Counter-Sanctions Did To EU Exporters

European food exporters have lost nearly a half a billion dollars in Russian business since the annexation of Crimea last March. Back then, Russia imports totaled around $1.2 billion. But then all hell broke loose in Ukraine. A pro-Russian politician got sacked by protesters and the Kyiv government put in Arseniy...

Ruble’s Rise Gives Russia Room to Cut Rates, Central Banker Says

The strengthening ruble gives Russia room to cut interest rates if there are no other shocks to the economy, central bank Governor Elvira Nabiullina said. The ruble’s strength is contributing to a slowdown in inflation, and “that’s why with other things being equal and no new significant negative factors, the...
video

Direct line with Vladimir Putin: Annual Q&A session 2015

Video and Transcript During the live broadcast that lasted 3 hours and 57 minutes, the President answered 74 questions out of the almost 3 million that were received. Direct Line with Vladimir Putin was broadcast live on Channel One, Rossiya-1 and Rossiya-24 TV channels, and Mayak, Vesti FM and Radio Rossii...

Legendary Investor Jim Rogers: Buy Stocks from Russia Fast

Rock bottom oil prices, a resurgent ruble and a rebounding stock market make it a good time to invest in Russia, according to American investor Jim Rogers. "I'm very optimistic about the future of Russia," Rogers told the audience at a Moscow investment conference put on by investment firm BCS. "Certainly one of the most...

Britain Joins China’s Asian Infrastructure Investment Bank Despite U.S. Concerns

In Face of Interest, Alliance Sometimes Fragile. Despite concerns voiced by its close ally the United States, Britain, a conventional Atlantic force, will become the first major Western economy to join a China proposed financing mechanism, which will explore investment opportunities in, mainly, Asia. Downing Street believes its decision to apply to...

Article Filter Options