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Economics News

A collection of 554 issues

Yandex has found an alternative to the American and European markets

The company's ability to develop in Europe and the United States was limited, so the IT giant is exploring a new area of expansion. The holding strengthens its presence in Latin America. The region's technology sector began to develop actively during the pandemic, and in the

O'K takes off in trading after strong report

O'Kay's GDRs were up 23.5% at the opening, with the retailer showing retail revenue growth of 11.5% year-on-year in Q2, amounting to 49.562 billion rubles. Revenue from O'Kay hypermarkets decreased by 1.7%, to 35.414 billion rubles, while revenue from

Retailers drag the Russian market - Magnit momentarily +3.2% after the publication of operating results

We shall highlight the main results of the report on Q2 2022: the revenue grew by almost 40% YoY to 588.6 bln. rubles, the average bill added 15% YoY, the selling space is also growing, adding almost 20% YoY to 9259 ths. sq. m. Comparable sales (LFL) increased by

Chinese Foreign Ministry opposes the proposed U.S. sanctions against China for the purchase of Russian oil and energy resources

Earlier, U.S. senators led by Marco Rubio called on the authorities to impose sanctions on the sale of Russian oil and other energy resources to China. Cutting off Russian oil supplies to China could lead to tougher competition for oil from the Middle East and Africa by Beijing, potentially

FAS Russia imposed turnover fines on 7 major suppliers of rolled steel

The reason was the conclusion of anti-competitive agreements in order to maintain prices at tenders. The total fine amounted to 1.77 billion rubles. The following companies were involved in the proceedings: Steel Industrial Company JSC, Metal Rolling Service Center LLC, Enterprise Stroytechcenter LLC, A Group LLC, Uralmetallstroy LLC, Completion

Russian exports rose 20% YoY in the second quarter of 2022 - helped by high oil prices, - the Central Bank of Russia

At the same time, the volume of exports fell by 59% due to sanctions. Russian Urals oil in the second quarter was sold at $80 per barrel, which is 18% higher than last year. The next tax period may have a strong impact on the ruble exchange rate. Given the

Russian schools will begin to teach financial literacy - TASS

Elements of financial literacy in Russian schools will be included in the lessons of mathematics, social studies and the environment. For this purpose, the Bank of Russia has developed more than 70 lesson scenarios.

China suspended the work of the company assembling iPhones in Shenzhen

Cnooc is closed due to covid restrictions, the regulator said. These restrictions will introduce new disruptions in supply chains and exacerbate shortages, leading to higher prices.

Kazakhstan government allows banks to take cash rubles abroad

Resolution on permission of the Cabinet of Ministers published in the bank of normative legal acts. "Allow the second-tier banks of the Republic of Kazakhstan to export cash Russian rubles from the Republic of Kazakhstan until August 31, 2022 within the accumulated volume in the cash offices of these

The president of the Russian Federation instructed the government to submit by July 25 proposals on adjustments to the budget rule

By August 15, Putin is waiting for proposals for additional mechanisms for the growth in 2022 the mortgage loan portfolio in nominal terms at least 2021. Also, the Cabinet of Ministers was instructed to prepare by October 15 the next stage of the reform of control and supervisory activity.