Russian Economy General News: #7

Project Canada wrote:Oil prices are back to $50 levels, this should give Russian oil companies a bit of relief. unfortunately, this will benefit the Saudis as well, i hope SA will collapse before oil goes back to really profitable prices because this will enable the Saudis again to fund their worldwide Jihadist war

GunshipDemocracy wrote:

Project Canada wrote:Oil prices are back to $50 levels, this should give Russian oil companies a bit of relief. unfortunately, this will benefit the Saudis as well, i hope SA will collapse before oil goes back to really profitable prices because this will enable the Saudis again to fund their worldwide Jihadist war

Well without $50 barrel Houtis would  be on outskirts on Riyadh soon

Project Canada wrote:Oil prices are back to $50 levels, this should give Russian oil companies a bit of relief. unfortunately, this will benefit the Saudis as well, i hope SA will collapse before oil goes back to really profitable prices because this will enable the Saudis again to fund their worldwide Jihadist war

Hannibal Barca wrote:Nothing serious, just the shockwaves of an impending Trump election. It will come back to normal pretty soon.
The next crisis will be also a banking one IMO.

Austin wrote:

Hannibal Barca wrote:Nothing serious, just the shockwaves of an impending Trump election. It will come back to normal pretty soon.
The next crisis will be also a banking one IMO.

Trump winning chances are very low as the American System or Deep State would want Hillary to Win to pursue its agenda more freely.

How do you forsee the next banking crisis unfolding ?

Austin wrote:Now that Renminbi has been granted SDR status and Russia-China being strong trading partners.

Can Russia let China trade its Energy Products ( Oil/Gas ) in Renminbi in return for greater economic benefit to Russia from China , Russia might just add Renminbi to its basket for Oil/Gas trade besides USD & Euro , is that a good proposition ?

May be the central bank can also dump UK Pound and USD percentage in Forex and give more preference to Renminbi , like 15-20 % of its Forex basked in Renminbi and reduce USD % from 45 % to  30 %

Hannibal Barca wrote:Firstly, I will be really surprised if Trump doesn't win.

Hillary has been scripted to win by the power that be in the US , Trump is just a side show but not the show itself. If there was any free and fair election in US then certainly Trump would have had his fair chance but  this one is rigged for hillary.She even told her supporters to ignore all polls and that she will win

Secondly, I don't think anyone knows when or how the next economic crisis will unfold and I don't think anyone can predict how major is gonna be either.
Problem is that we should had a huge crisis ongoing long ago, but most western centers realize that this will be an existential treat for them so they try to hang on
delaying everything against economic data and common sense.
I do think that the next crisis is gonna have geopolitical consequences. European Union rot from inside and the dollar can hold for so long
without real economic data backing it up.

Jim Rickards states SDR status will be elevated to reserve currency replacing USD and Euro and others

Can Russia build a tech-based economy?

When over 13,000 entrepreneurs and investors last week visited the Open Innovations forum just outside of Moscow, concerns arose about the pace of technological advances in Russia

Skolkovo Technology Park, one of Russia's largest science parks, is just an hour drive from Moscow's city center. Designed as an alternative to Silicon Valley in the U.S., Skolkovo is a key part of Russia's dream to build an economy based on scientific and technological innovation.

On Oct. 26-28, Skolkovo Technopark hosted the Open Innovations forum, which is the Russian government's flagship tech event. The forum is seen as an opportunity to inspire technological development in the sanctions-hit country.

This year, the event highlighted everything that is wrong with Russia's innovation infrastructure, ranging from low demand for new technology, to the lack of investment for early-stage startups.

Freedom for startups?

Pekka Viljakainen, adviser to Skolkovo Foundation's president, said large Russian corporations investing in startups seek a controlling stake of at least 30 precent.

“There is not enough mutual trust in the local business environment,“ Viljakainen said in his speech at Open Innovations. “Companies are afraid to lose control under the current situation.“

Such pressure, however, can cause a reverse effect whereby the startup's founders are not motivated to take risks and accept responsibility. Viljakainen believes tech entrepreneurs can create a unique product only if they are given more freedom.

Evgeny Kuznetsov, CEO of RVC, one of Russia’s development institutes and a key player in building the county’s innovation system, admitted that long-established companies in Russia do not have the necessary experience and instruments to work properly with startups. Moreover, Russian senior executives and top managers often think that they have no need of innovation.

Kuznetzov said, for example, that this is a big mistake made by local energy companies. According to the annual Innovation Report, budgets in Russia for R&D decreased while the demand for new technology has been increasing.

“Big business has to cooperate with the innovation sector,“ Kuznetsov said. He admitted that many startups eventually move abroad because they don't fit into the purchasing strategy of major Russian companies.

Venture vitamins needed

The Russian government is actively fostering the innovation process, encouraging and supporting startups through organizations such as RVC, Skolkovo, the Agency for Strategic Initiatives (ASI) and many others. But the top down approach to innovation doesn’t help tech companies to grow fast enough.

According to Ruslan Musin, the founder of SpeakUS, a mobile app that breaks down language barriers with the help of real interpreters, the infrastructure for startups is in the early stage of development.

“It seems that window dressing gets more attention than deeper processes,“ he told RBTH, adding that his startup had a positive experience getting support at its place of residency, the Strogino science park, which belongs to the Moscow city government.

“There are favorable conditions for starting a tech business in Russia, but the issue is further development,“ Musin said. “The venture capital market in the country is almost non-existent, and startups need financial “venture vitamins“ for growth. Of course, something is happening, but innovation can’t be developed separately from other industries.“

http://rbth.com/science_and_tech/2016/11/01/can-russia-build-a-tech-based-economy_644021

Hannibal Barca wrote:Secondly, I don't think anyone knows when or how the next economic crisis will unfold and I don't think anyone can predict how major is gonna be either.
Problem is that we should had a huge crisis ongoing long ago, but most western centers realize that this will be an existential treat for them so they try to hang on
delaying everything against economic data and common sense.
I do think that the next crisis is gonna have geopolitical consequences. European Union rot from inside and the dollar can hold for so long
without real economic data backing it up.

Hannibal Barca wrote:Well, Stockman is a joke.
He sells gold and says these things again and again every day the last 8 years.
One day he will be proved correct.... but until then, there will be a million times that he will be proved wrong

Russia enters re-industrialization stage — Medvedev

http://tass.com/economy/910574



Russia, Japan choose Voronezh for urban realm improvement project - minister

http://tass.com/society/910606