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News Tag: Russia

January 7, 2011

UK exporters: emerging markets or join “slow lane of history”

by Gill Montia
UK exporters: emerging markets or join
A new report from PricewaterhouseCoopers (PwC) is urging UK companies to focus on emerging markets, or join the "slow lane of history" by continuing to focus on markets in North America and Western Europe. In PwC's latest "World in 2050" series, the firm's head of macroeconomics, John Hawksworth, comments: “Rapid growth in consumer markets in the major emerging ...

October 8, 2010

UK producer prices rise higher than forecast

by Kay Mitchell
The Office for National Statistics (ONS) today revealed producer input prices increased 0.7% in September compared with August, pushing the annual rate to 9.5%, from 8.7% the previous month. The figure was much higher than forecasts of a 0.4% monthly rise and an annual rate of 8.6%. Meanwhile, annual output price inflation slowed less than expected to 4.4% in September, from 4.7% ...

July 27, 2010

Russian Q2 growth expands 5.4% on year

by Kay Mitchell
Russia’s economy improved in the second quarter of 2010 after figures showed growth of 5.4% compared with the same period a year ago. Economic growth has been driven in the three month period by rising consumer demand, according to the country’s deputy economy minister, Andrei Klepach. In the first quarter, GDP expanded 2.9% from the same period the year earlier. "We are ...

February 1, 2010

Russia’s economy contracts 7.9% in 2009

by Kay Mitchell

November 24, 2009

Russia cuts interest rates to record low of 9%

by Kay Mitchell
Bank Rossii, Russia’s central bank, has cut interest rates by 50 basis points to 9% - a record low and the ninth time rates have been cut since April in bid to boost demand. Russia’s economy, which is heavily reliant on oil exports, has suffered from a severe downturn but the economy appears to now be on the road ...

November 12, 2009

Russia’s economy sees 13.9% growth in Q3

by Kay Mitchell
Statistics body Rosstat has today announced that Russia's economy expanded by 13.9% in the third quarter compared with the second quarter. However, when compared with the same period a year ago, the Russian economy contracted by 8.9%. The economy, which is heavily reliant on oil exports, has suffered from a severe downturn but the latest figures show that Russia is on ...

October 12, 2009

Russian economy hit by drop in energy prices

by Kay Mitchell
The Russian economy, which is heavily dependant on oil exports, is forecasted to contract by 7.5% in 2009, according to President Dmitry Medvedev. The latest official figures suggest that the Russian economy declined 10.2% in the year to August, compared with the same period a year earlier. The economy has been hit hard by the sharp fall in energy prices and ...

April 25, 2009

Russian central bank cuts interest rates by 0.5%

by Peter Charalambous
Analysts have suggested that the central bank of Russia has cut interest rates by 0.5 percent following pressure from Prime Minister Vladimir Putin, since the reduction came a day after Putin met business leaders who called for a reduction in lending rates. The key refinancing rate fell to 12.5 percent and the government has given assurances that inflation has been ...

February 16, 2009

Russia’s billionaires hit by financial crisis

by Kay Mitchell
According to Russian business magazine Finans, Russia’s super rich have been severely hit by the global economic downturn. The magazine revealed that the number of billionaires in the country halved from 101 in 2008 to 49 in 2009. Forty-three year old technology and mining tycoon, Mikhail Prokhorov, is at the top of the list with a fortune of $14 billion (£9.8 billion), down ...