Tag: Russia

Russia’s GDP decline could hit 12.4% this year, economy ministry document shows | Reuters

Russia expects the economy to contract by 8.8% in 2022 in its base case scenario, or by 12.4% under a more conservative scenario, an economy ministry document showed on Wednesday, further evidence that sanctions pressure is taking its toll.
— Read on www.reuters.com/business/russias-gdp-decline-could-hit-124-this-year-economy-ministry-document-shows-2022-04-27/

Ukraine’s Economic Arteries Fear for a Worst-Case Scenario

(Bloomberg) — From her office across from the wind-lashed docks and idle cranes of Berdyansk Commercial Sea Port in southeastern Ukraine, new director Olga Saminina is frank about its prospects: Zero, without state support and new clients.Most Read from BloombergPowell Backs March Liftoff, Won’t Rule Out Hike Every MeetingA Nor’easter Approaching New York Risks Becoming a Bomb CycloneStocks Halt Rally as Bond Yields Spike After Fed: Markets WrapAstronomers Spot Never-Before Seen Object at 4,000
— Read on ca.finance.yahoo.com/news/ukraine-economic-arteries-fear-worst-063355139.html

OPEC, Russia extend record oil cuts to end of July – Reuters

OPEC, Russia and allies agreed on Saturday to extend record oil production cuts until the end of July, prolonging a deal that has helped crude prices double in the past two months by withdrawing almost 10% of global supplies from the market.
— Read on www.reuters.com/article/us-global-oil-russia-opec-graphics/opec-russia-extend-record-oil-cuts-to-end-of-july-idUSKBN23D007

Two Emerging Markets Are Ready for the Next Global Recession

(Bloomberg) — If the global trade spat ends up tipping the world into recession, Russia and South Korea could be the best places to hide in emerging markets, according to Saxo Bank.Both countries have high real interest rates and are running budget surpluses, giving policy makers ample room to adjust
— Read on ca.finance.yahoo.com/news/two-emerging-markets-ready-next-064446636.html

Bank of Russia Cuts Key Rate and Signals More Easing to Come

(Bloomberg) — The Bank of Russia reduced interest rates for a second time this year and signaled more cuts to come, as inflation and economic growth slow.The key rate was cut to 7.25% from 7.50%, according to a statement published on Friday. The move was forecast by all but one of the 40 economists
— Read on ca.finance.yahoo.com/news/bank-russia-cuts-key-rate-114021159.html