Russian Economy General News: #8

Austin wrote:More Russian banks may undergo financial rehabilitation - Central Bank official

More:
http://tass.com/economy/970164

I am note sure exactly but are they doing the same thing that Fed did in 2009 to pump US banks with liquidity so that they do not collapse or this is something else ?

miketheterrible wrote:

Austin wrote:More Russian banks may undergo financial rehabilitation - Central Bank official

More:
http://tass.com/economy/970164

I am note sure exactly but are they doing the same thing that Fed did in 2009 to pump US banks with liquidity so that they do not collapse or this is something else ?

more or less. Plus reorganization. They will receive more "investments" from CB.

Russian Bank profits this year will stand at over $17B dollars.

The Russian Central Bank has significantly increased the pace of its gold purchases. In the period between January and September 2017, the regulator bought 4.2 million troy ounces of the precious metal worth over $5 billion, 15 percent more than in the same period last year.

As of October 1, the Russian Central Bank holds $73.6 billion in gold reserves, compared with $65.5 billion a year ago, according to its data.

kvs wrote:

Austin wrote:7 Top Oil Stocks With Largest Proven Oil Reserves

https://www.fool.com/investing/2016/11/14/7-top-oil-stocks-with-largest-proven-oil-reserves.aspx

What a joke. The only non NATO oil-gas company in the list has reserves that completely overwhelm those of
the others on the list. Gazprom's stock value should be 100 times higher.

"We expect that optimizing spending and improving revenue collection will reduce the federal budget deficit in 2017 to 2% of GDP against the initial target of 3.2% .In the medium term, we will seek additional fiscal consolidation to eliminate the primary federal budget deficit by 2019 year, "the minister said.

Siluanov noted that the government continues to plan the budget, based on a conservative oil price forecast of $ 40 per barrel in 2017 prices. "The level of public debt remains low and in the medium term will not exceed 20% of GDP," he added.

Despite attempts to economically isolate Russia, foreign investors are becoming more interested in cooperation with our country. In the first half of 2017, foreign direct investment reached $ 14 billion - more than double the figure for the same period last year. This was announced by the Chairman of the Government of the Russian Federation Dmitry Medvedev at the 31st meeting of the Advisory Council on Foreign Investments in Russia. Participants of the FIAC discussed the proposals of foreign companies to simplify administrative procedures in various sectors of the Russian economy, including in the energy, pharmaceutical and agro-industrial sectors.

The Advisory Council on Foreign Investments in Russia was established in 1994 in accordance with a government decree. This permanent body reviews and prepares proposals on issues arising from foreign organizations when implementing investment projects in Russia. Now FIAS includes heads of 54 major international companies, including Exxon Mobil Corporation (USA), Mitsubishi Corporation (Japan), Nestle SA (Switzerland), PepsiCo (USA), Samsung Electronics Co., Ltd. (Republic of Korea), Siemens AG (Germany), The Coca-Cola Company (USA), UniCredit (Italy) and many others. The chairman of the advisory council is Dmitry Medvedev.

- The Russian economy has completed the adaptation to the new conditions and challenges that it faced, and began to grow. The key indicators of the gross domestic product, and the volume of industrial production, freight turnover, exports and imports are also increasing. With different rates, but the dynamics are generally positive. We can confidently state that the Russian economy has entered a phase of growth. This is taking place against a background of record low inflation. It more and more corresponds to those frameworks which are characteristic for the developed countries. Since the beginning of the year, it has not exceeded 2%. According to Rosstat, about 1.7% - and in general for the year we expect moderate values ​​- slightly more than 3%. Such a low level was not in the entire recent history of our country, "the head of government said.

The Prime Minister noted that positive changes in the economy are the result of the government's anti-crisis work, targeted support of key industries, moderate budgetary policy. The main approach remains an effective cost structure and implementation of development priorities.

"Despite attempts to economically isolate our country, there is growing interest in cooperation with Russia from foreign investors. Over the first half of the year, the volume of foreign direct investment has more than doubled compared to the same period last year. Significant contribution was made by representatives and members of our committee on foreign investment, "the prime minister added.

Dmitry Medvedev noted that the corporations included in the advisory council now implement more than 20 investment projects in various industries.

- Given the weight and scale of the companies that are represented here, of course, these are all the big projects - from energy to digital economy. New products are entering the market. The total investment contribution of the members of the FIAC for the entire period of the council's existence exceeded $ 165 billion. The geography of these projects covers more than 50 regions of the country. The inflow of investments became possible, among other things, thanks to purposeful work to improve the business climate. Many ideas, projects in this sphere were born thanks to the work of the expert groups of the advisory council, - said Dmitry Medvedev.

According to the Prime Minister, Russia has demonstrated record dynamics in the World Bank's Doing Business ranking. Over the past five years the country has advanced in it by more than 80 positions. Experts evaluated the simplification or acceleration of many procedures that are important at the start and maintenance of a new project.

In this rating, Russia rose from 124th place to 40th. In total, 190 countries are evaluated in Doing Business.

"This is very good, but it does not mean that the work can be completed and recognized fulfilled," Dmitry Medvedev stressed.

Following the meeting, Minister of Economic Development Maxim Oreshkin said that foreign direct investment in Russia in the first half of 2017 reached $ 14 billion. The head of the department said that the meeting was held with a general positive attitude.

- The economy began to recover, and economic growth began. The study by Ernst & Young showed that the number of investment projects being implemented in Russia this year reached the highest level in the whole history, the minister said.

At the meeting, the issue of sanctions against the heads of foreign corporations was not discussed, he said.

- Companies are actively working in Russia. Today, issues of economics and business were discussed. The political noise that exists around sanctions is receding into the background when it comes to money and investment productivity, - said Maxim Oreshkin.

At the September meeting of the Executive Committee of the FIAS, the Minister of Economic Development compared the situation in the Russian economy with the dynamics of the American economy in the first half of the 1980s. Then, in the US, low and stable inflation was achieved, this opened the way for a positive credit cycle that lasted 27 years. Following the meeting on October 16, Alexander Ivlev, managing partner for Russia of the audit company Ernst & Young, noted that foreign investments in Russia have recently been growing and there is hope for the continuation of this trend.

VORONEZH, 18 October. / TASS /. Deputy Prime Minister Dmitry Rogozin believes it is right to prohibit the purchase of imported software for government needs from manufacturers that do not disclose the source code. He stated this at a military-industrial conference "Diversification of the OPK in the field of telecommunications and communications."

"Buying foreign equipment, switches, routers, servers, we sit down on the constantly updated foreign software, which does not have source codes," he said. "It is worth considering a ban on the supply to the public sector of equipment for those foreign sellers who do not open the source code and do not transfer the documentation necessary for the subsequent modernization by own forces ".

The vice-premier warned that "all these games will end very badly." "As a matter of fact, we simply drag the bomb into our own house and do not know how this story will work in the conditions of aggravation of relations," Rogozin remarked. "And no one has simply canceled industrial espionage, so it's just stupid."

Rogozin called for more ambitious tasks, taking into account the potential of the national defense industry. According to him, this is not so much a technological as a political task in modern conditions.

Russia has brought in the biggest harvest in the last 100 years; 132mn tonnes of grain has been brought in so far in 2017, Prime Minister Dmitry Medvedev said on October 19 as cited by Interfax.

This already beats the previous estimate of 127mn tonnes and is well ahead of last year’s bumper 120.7mn tonnes, and only just behind the Soviet all time high of 133mn tonnes set in the 70’s....

PapaDragon wrote:'
Russia's grain harvest at 100-year high

http://www.intellinews.com/russia-s-grain-harvest-at-100-year-high-131054/

Russia has brought in the biggest harvest in the last 100 years; 132mn tonnes of grain has been brought in so far in 2017, Prime Minister Dmitry Medvedev said on October 19 as cited by Interfax.

This already beats the previous estimate of 127mn tonnes and is well ahead of last year’s bumper 120.7mn tonnes, and only just behind the Soviet all time high of 133mn tonnes set in the 70’s....

So basically modern day Russia is about to beat USSR's all time record from back when it had access to (among others) legendary Ukrainian wheat production? 

Ukraine the breadbasket of Europe my sweet white ass...

MOSCOW, Oct. 25 - RIA Novosti. The cost of oil production in Russia averages between $ 10 and $ 15 per barrel, Energy Minister Alexander Novak said during a government hour in the State Duma.

"The average figure is from $ 10 to $ 15 per barrel, the cost of oil production, which includes both operating costs and return on investment of a capital nature." Somewhere, in fact, in existing fields where property is depreciated, the cost can be either two, three, and five dollars, and where the new deposit, the Arctic shelf, the cost price, for example, at least $ 50 per barrel, $ 40, "the minister said.

The State Department has drafted and approved a list of Russian companies that may fall under the law on new sanctions against Russia, Iran and the DPRK, signed by US President Donald Trump on August 2. This was stated by the representative of the department Heather Neuert, without specifying which structures became its members. In less than a few hours, the list sent from the State Department to Congress was published by The New York Times

The list of the State Department included, in particular, Almaz-Antey, Dolgoprudnensky Research and Production Enterprise, Izhmash, Kalashnikov, Oboronprom, UVZ, Rosoboronexport, Rostek, MiG, Constellation "," Sukhoi "," Titan-Barricades "," Tupolev "," Russian Helicopters ", as well as United Aircraft Corporation , United Engine Building Corporation , United Instrument-Making Corporation and United Shipbuilding Corporation .

At the beginning of 2017, the rate was 10%, the regulator reduced it five times. According to the forecasts of the head of the Central Bank Elvira Nabiullina, the key rate in 2019 may drop to 6.5-7% in 2019.

flamming_python wrote:

I think that 70s figure is just for the RFSFR (which didn't include Crimea at the time as well). Otherwise what's the point in comparing?

Soviet all time high of 133mn tonnes set in the 70’s

miketheterrible wrote:People are calling out the US bluff. Actually, funny enough, US increased its import of Russian products this year..