The steep fall in oil price is impacting Russia's foreign trade more in a negative way, while the financial markets are witnessing renewed interest from overseas investors and fund managers as well.
Tags: Russia
Oil rises on production cut speculation, pares losses in January
Oil prices rebounded on news that there may be production cut by OPEC. US Brent futures recouped losses by 6.8 percent and US crude pared 9.3 percent losses during the week. In overall, oil prices rebounded by over 25 percent after hitting 12-month low in January. Oil price hit $27.10 on 20 January 2016.
Oil Price is Still in Turbulence, While U.S. Reported Its Highest Level of Crude Inventories
Speculation over production cut and held the oil price to around $30 a barrel, but uncertainty still lingers. Meanwhile, U.S inventories are reported to reach its highest level of crude stockpile.
Russian Ruble Plunged To Record Low as Oil Price Keep Sinking
Russian ruble is decreasing and hits all-time record low against dollar last week. Starting this week, the currency started its way to recover and reach 10- day high.
Online Gambling: Russia is Leaning Towards Legalizing Online Poker
The move to legalize online poker started six months ago and a few changes have been seen since then. The legalization is expected to stop illegal online gambling that has been going on in the country since the activity was banned, and in turn, could also increase tax revenues for Russia. The rest of terms and time measures on this remain unknown.
Latest News
The world's largest and second largest economies have established 'Space Hotline,' a new communications channel to serve as a diplomatic safety valve.
The Russian economy slipped 4.1 percent during the third quarter as against the drop of 4.6 percent in the second quarter. The consecutive third quarter of contraction signals recessionary situation in the Russian economy.
Fiat Chrysler Automobiles (FCA), the Italian-US automobile company being the parent company of Ferrari, floated to the public 17.18 million shares accounting for nearly 10% of Ferrari at $52 a share at its IPO at the NYSE.
Hyundai Motor Co's net profit for the third quarter ending September fell 23 percent. The steep fall in China sales coupled with aggressive global incentives impacted the South Korean automobile major's performance in a more negative way.
The United States imposes sanctions upon 30 individuals and groups linked to the Islamic State. Fifteen people were designated by the Treasury Department as Islamic State supporters, while 10 individuals and five groups were tagged by the State Department as foreign terrorist fighters.
Apple may get in trouble with Russia because of its same-sex couple emojis. A Russian lawyer has filed a complaint against the tech giant for "promoting homosexuality" through its emojis.
Bank of America Corp (BofA) has turned positive on Russia's economy as it started seeing signs of recovery in near future though on a weaker note. The drastic slowdown in capital investment is gradually easing off. Russian economy seems to have bottomed out. Russian gross domestic product (GDP) shrunk 4.6 percent during the second quarter.
Google is facing a lawsuit against dominance abuse in Russia. The company has nothing to say at the moment until Russia's Federal Antimonopoly System’s decision comes out.
Being faced with several odds in Russia, Deutsche Bank has decided to withdraw some of its services from Russia. The alleged share trading by Russian unit of Deutsche Bank has become subject to investigation in the US. The German bank may stop 90 percent of its banking services in Russia soon.
