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    Russian Economy General News: #2

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    Austin

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    Re: Russian Economy General News: #2

    Post  Austin on Wed Apr 16, 2014 8:25 pm

    The End Result of the Fed’s Cancerous Policies and When It Will Hit

    Many commentators consider what the Fed has done to be akin to providing stimulus, morphine, juice to an ailing economy.

    We believe Fed’s actions would be more appropriately described as permitted cancerous beliefs to spread throughout the financial system, thereby killing Democratic Capitalism which is the basis of the capital markets.

     
    Today we’re going to explain what the “final outcome” for this process will be. The short version is what happens to a cancer patient who allows the disease to spread unchecked (death).

    In the case of the Fed’s actions we will see a similar “death” of Democratic Capitalism and the subsequent death of the capital markets.

    We are, of course, talking in metaphors here: the world will not end, and commerce and business will continue, but the form of capital markets and Capitalism we are experiencing today will cease to exist as the Fed’s policies result in the market and economy eventually collapsing in such a fashion that what follows will bear little resemblance to that which we are experiencing now.
     


    The focus of this “death” will not be stocks, but bonds, particularly sovereign bonds: the asset class against which all monetary policy and investment theory has been based for the last 80+ years.

     
    Indeed, basic financial theory has proposed that sovereign bonds are essentially the only true “risk-free” investment in the world. While history shows this theory to be false (sovereign defaults have occurred throughout the 20th century) this has been the basic tenant for all investment models and indeed the financial system at large going back for 80 some odd years.
     

    The reason for this is that the Treasury (US sovereign bond) market is the basis of the entire monetary system in the US and the Global financial system in general. Indeed, US Treasuries are the senior most assets on the Primary Dealers’ (world’s largest banks) balance sheets. To understand why this is as well as why the Fed’s policies will ultimately destroy this system, you first need to understand the Primary Dealer system that is the basis for the US banking system at large.

     
    If you’re unfamiliar with the Primary Dealers, these are the 18 banks at the top of the US private banking system. They’re in charge of handling US Treasury Debt auctions and as such they have unprecedented access to US debt both in terms of pricing and monetary control.

     The Primary Dealers are:


         Bank of America
        Barclays Capital Inc.
        BNP Paribas Securities Corp.
        Cantor Fitzgerald & Co.
        Citigroup Global Markets Inc.
        Credit Suisse Securities (USA) LLC
        Daiwa Securities America Inc.
        Deutsche Bank Securities Inc.
        Goldman, Sachs & Co.
        HSBC Securities (USA) Inc.
        J. P. Morgan Securities Inc.
        Jefferies & Company Inc.
        Mizuho Securities USA Inc.
        Morgan Stanley & Co. Incorporated
        Nomura Securities International Inc.
        RBC Capital Markets
        RBS Securities Inc.
        UBS Securities LLC.

     
    You’re bound to recognize these names by the mere fact that they are the exact banks that the Fed focused on “saving” thereby removing their “risk of failure” during the Financial Crisis.

     hese banks are also the largest beneficiaries of the Fed’s largest monetary policies: QE 1, QE lite, QE 2, etc. Indeed, we now know that QE 2 was in fact was meant to benefit those Primary Dealers in Europe, not the US housing market. The same goes for QE 3 and QE 4.

    The Primary Dealers are the firms that buy US Treasuries during debt auctions. Once the Treasury debt is acquired by the Primary Dealer, it’s parked on their balance sheet as an asset. The Primary Dealer can then leverage up that asset and also fractionally lend on it, i.e. create more debt and issue more loans, mortgages, corporate bonds, or what have you.
     
    Put another way, Treasuries are not only the primary asset on the large banks’ balance sheets, they are in fact the asset against which these banks lend/ extend additional debt into the monetary system, thereby controlling the amount of money in circulation in the economy.

     
    When the Financial Crisis hit in 2007-2008, the Fed responded in several ways, but the most important for the point of today’s discussion is the Fed removing the “risk of failure” for the Primary Dealers by spreading these firms’ toxic debts onto the public’s balance sheet and funneling trillions of dollars into them via various lending windows.

     
    In simple terms, the Fed took what was killing the Primary Dealers (toxic debts) and then spread it onto the US’s balance sheet (which was already sickly due to our excessive debt levels). This again ties in with my “cancer” metaphor, much as cancer spreads by infecting healthy cells.

     When the Fed did this it did not save capitalism or the Capital Markets. What it did was allow the “cancer” of excessive leverage, toxic debts, and moral hazard to spread to the very basis of the US, indeed the entire world’s, financial system: the US balance sheet/ Sovereign Bond market.

     These actions have already resulted in the US losing its AAA credit rating. But that is just the beginning. Indeed, few if any understand the real risk of what the Fed has done.
     

    The reality is that the Fed has done the following:


     
    1)   Set itself up for a collapse: at $4 trillion, the Fed’s balance sheet is now larger that the economies of Brazil, the UK, or France. And with capital of only $54 billion, the Fed is leveraged at over 50 to 1 (Lehman was at 30 to 1 when it failed).

     2)   Called the risk profile of US sovereign debt into question: foreign investors, now fully aware that the US’s balance sheet is suspect (the US has lost its AAA credit rating), are dumping Treasuries (see China and Russia). This has resulted in the Fed now being responsible for the purchase of up to 91% of all new long-term (20+ years) US debt issuance.

    3)   Put the entire Financial System (not just the private banks) at risk.


     
    The Financial System requires trust to operate. Having changed the risk profile of US sovereign debt, the Fed has undermined the very basis of the US banking system (remember Treasuries are the senior most asset against which all banks lend).

    Moreover, the Fed has undermined investor confidence in the capital markets as most now perceive the markets to be a “rigged game” in which certain participants, namely the large banks, are favored, while the rest of us (including even smaller banks) are still subject to the basic tenants of Democratic Capitalism: risk of failure.

     
    This has resulted in retail investors fleeing the markets while institutional investors and those forced to participate in the markets for professional reasons now invest based on either the hope of more intervention from the Fed or simply front-running those Fed policies that have already been announced.
     

    Put another way, the financial system and capital markets are no longer a healthy, thriving system of Democratic Capitalism in which a multitude of participants pursue different strategies. Instead they are an environment fraught with risk in which there is essentially “one trade,” and that trade is based on cancerous policies and beliefs that undermine the very basis of Democratic Capitalism, which in the end, is the foundation of the capital markets.
     
    In simple terms, by damaging trust and permitting Wall Street to dump its toxic debts on the public’s balance sheet, the Fed has taken the Financial System from a status of extremely unhealthy to terminal.
     
    The end result will be a Crisis that makes 2008 look like a joke. It will be a Crisis in which the US Treasury market and sovereign bonds in general implode, taking down much of the US banking system with it (remember, Treasuries are the senior most assets on US bank balance sheets).

     
    We cannot say when this will happen. But it will happen. It might be next week, next month, or several years from now. But we’ve crossed the point of no return. The Treasury market is almost entirely dependent on the Fed to continue to function. That alone should make it clear that we are heading for a period of systemic risk that is far greater than anything we’ve seen in 80+ years (including 2008).

     The Fed is not a “dealer” giving “hits” of monetary morphine to an “addict”… the Fed has permitted cancerous beliefs to spread throughout the financial system. And the end result is going to be the same as that of a patient who ignores cancer and simply acts as though everything is fine.
     

    That patient is now past the point of no return. There can be no return to health. Instead the system will eventually collapse and then be replaced by a new one.
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    Viktor

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    Re: Russian Economy General News: #2

    Post  Viktor on Fri Apr 18, 2014 11:38 am

    Nice  thumbsup 

    Russian Government Backs National Payment System Plan

    Russia Presses Ahead with South Stream Project
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    Viktor

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    Re: Russian Economy General News: #2

    Post  Viktor on Sat Apr 19, 2014 4:17 pm

    And it is done. Russia has forgive 90% of its foreign debt of N.Korea in exchange for support to build an gas pipeline and railway to South Korea !

    Russian Duma Receives $10Bln North Korean Debt-Forgiveness Bill

    article is few months old but Duma approved legislation I think today and the plan is set in motion  thumbsup 
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Sat Apr 19, 2014 5:27 pm

    Superb. This is some real work doing in the East lately.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Sun Apr 20, 2014 3:12 pm

    New plant for production of bitumen "Bitumen Neft-Kazakhstan" opened in Shymkent
    April 17 at the opening of a new bitumen plant LLP "Neft - Bitumen Kazakhstan" between the Committee of Roads MOTC and OAO "Gazprom Neft" Memorandum on cooperation in the field of production and consumption of high quality bitumen for the needs of the road sector of Kazakhstan.
    LLP "Neft - Bitumen Kazakhstan" - one of the largest productions of bitumen in Central Asia. Last year, the finished product has exceeded 50 thousand tons, this year he has already reached 135 thousand tons. Since 2013 the owner of the plant is "Gazprom Neft". The company intends to invest in the further modernization of the enterprise 160 million tenge and bring it to the enterprise 285 tons bituma.Syrem for bitumen production is tar from the Omsk Refinery, which is delivered to the rail car, also available to consumers and finished products.

    Reporting from the construction of the first NPP Belarusian
    Just 18 kilometers from Astravets for endless metal wall and under the vigilant protection of trusted people almost round the clock security service is a new large-scale Belarusian building. Nearly fifteen thousand people step by step elevate the country's first nuclear power plant. Today the Belarusian nuclear power plant - a huge construction site, where all the 120 hectares designated for an object in motion: trucks, dump trucks, excavators, cranes constantly drive on the construction site. Walking long distances is virtually impossible, and, frankly, scary because cycle cars, though moving mainly where the speed of 5 km / h Therefore, by the well-trodden road of concrete slabs, "Golden Ring" NPP, we are lucky and spacious hard UAZ "Hunter".
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    Viktor

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    Re: Russian Economy General News: #2

    Post  Viktor on Mon Apr 21, 2014 4:10 pm

    From the expected (Kurdin) 150 bin $ capital outflow to new expected 70-80 bin $ and shrinking  thumbsup 

    Capital Flight From Russia Expected to Reach $70-80B
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    GarryB

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    Re: Russian Economy General News: #2

    Post  GarryB on Tue Apr 22, 2014 6:41 am

    And it is done. Russia has forgive 90% of its foreign debt of N.Korea in exchange for support to build an gas pipeline and railway to South Korea !

    This is very interesting in context... with China improving the port in Crimea that means that bigger ships from Europe can dock so material can be loaded on trains and go directly from Russian Crimea through to Asia, bypassing the Suez Canal and can be sent all the way to South Korea direct by train...
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Thu Apr 24, 2014 6:32 pm

    Putin: Sanctions not effective in modern world
    Sanctions against Russia will backfire and actually benefit the economy, President Vladimir Putin has said. His comments follow US President Obama’s threat that the White House has prepared a third round of sanctions.

    “Over-reliance can lead to a loss of sovereignty,” Putin said at a media forum in St. Petersburg on Thursday.

    Western-led sanctions have several advantages for Russia, the President said.

    The threat of real economic sanctions is already helping boost domestic businesses, bringing more offshore funds back to Russia, and giving policymakers the push they need to establish a domestic payment system. Similar to what Prime Minister Medvedev said last week, sanctions will only make Russia stronger.

    Pretty much what I been thinking. Iran is a good example, where people are willing to trade with then regardless of whar US says, as well, their banking system was untouched by the 2008 fallout. Mind yoi, inflation is still a problem in Iran, but they are growing metal consumer and many Iranians got rich from taking on what US and Europe refuses to sell them.

    As long as Russia keeps inflation down/stable, and as long as they continue with agriculture and high tech/automation development, Russia can be untouched or at least hardly hurt. Because they were so late getting into the wto, they are not as reliant as majority of EU countries are with each other or USA. This is what gives Russia the upper hand.
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    AlfaT8

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    Re: Russian Economy General News: #2

    Post  AlfaT8 on Thu Apr 24, 2014 6:52 pm

    sepheronx wrote:Putin: Sanctions not effective in modern world
    Sanctions against Russia will backfire and actually benefit the economy, President Vladimir Putin has said. His comments follow US President Obama’s threat that the White House has prepared a third round of sanctions.

    “Over-reliance can lead to a loss of sovereignty,” Putin said at a media forum in St. Petersburg on Thursday.

    Western-led sanctions have several advantages for Russia, the President said.

    The threat of real economic sanctions is already helping boost domestic businesses, bringing more offshore funds back to Russia, and giving policymakers the push they need to establish a domestic payment system. Similar to what Prime Minister Medvedev said last week, sanctions will only make Russia stronger.

    Pretty much what I been thinking. Iran is a good example, where people are willing to trade with then regardless of whar US says, as well, their banking system was untouched by the 2008 fallout. Mind you, inflation is still a problem in Iran, but they are growing metal consumer and many Iranians got rich from taking on what US and Europe refuses to sell them.

    As long as Russia keeps inflation down/stable, and as long as they continue with agriculture and high tech/automation development, Russia can be untouched or at least hardly hurt. Because they were so late getting into the wto, they are not as reliant as majority of EU countries are with each other or USA. This is what gives Russia the upper hand.
    You know, i can't help but wonder, that in the future, the U.S will say that Russia should be thankful for these sanctions, because it's thanks to them that the Russian economy became strong.  Rolling Eyes Suspect
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Thu Apr 24, 2014 7:04 pm

    Agree AlfaT8. Americans negate all principles of strategy. They would have been an easy pray all the way back to 1945 if they haven't receive so blatant help from the former world powers UK and France who gave them pretty much for nothing their empires that worked for centuries to create and if Soviet Union had a semi-working economic model or if India and China weren't starting pretty much from the stone age.
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    AlfaT8

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    Re: Russian Economy General News: #2

    Post  AlfaT8 on Thu Apr 24, 2014 7:44 pm

    Hannibal Barca wrote:Agree AlfaT8. Americans negate all principles of strategy. They would have been an easy pray all the way back to 1945 if they haven't receive so blatant help from the former world powers UK and France who gave them pretty much for nothing their empires that worked for centuries to create and if Soviet Union had a semi-working economic model or if India and China weren't starting pretty much from the stone age.
    Yeap, the UK and France practical dogged there own craves on that one, and they(W.Allies) almost did go for the Soviet Union, if the USSR hadn't come out so strong after the war, it was called Operation Unthinkable:
    https://en.wikipedia.org/wiki/Operation_Unthinkable
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Fri Apr 25, 2014 1:32 am

    We are on a full agreement here.
    Do you know about the high school queens whose everyone wants to sleep with them? For a reason really beyond my understanding every fucking catholic/protestant country was/is on a mission to try everything they could to see US dominating the planet. There is no parallel in history of so blatant compliance.
    They even make it look like they deserve all this success. But they still remain 100% the spoiled rich kid who inherited everything and can't face real difficulties.
    And let's not forget the notable exceptions of non-western convenient bitches like South Korea or Greece or Japan.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Fri Apr 25, 2014 5:12 am

    Hannibal, are you not Greek?  Anyway, much of the world owes Greece for culture and knowledge as many of the world stems from old Greek culture.  Which undoubtedly, Russia and Ukraine are examples of descendants.

    Anyway,Business climate can be improved in business, not in office, PM Medvedev believes

    It is well known that the economy for the next couple of years for Russia will be somewhat limited due to sanctions and its move to a new system (new credit system, new banking system and re-shuffling of enterprises and where they do business).  It is paramount that Russia pushes innovation and yes, tax breaks are a great start.

    If Russia is lacking the initial funds to pay high quality professors, then I suggest they move into obtaining property and other assets made in Russia, and provide them for free to such professionals in order to attract such people.  People would be more than happy to get a semi-decent wage or below wage if they are provided with a home, car and other subsidies that will in turn, make whatever they do get, seem much more (as it will be more disposable).

    But, my understanding from my father whom worked for the US airforce, is that most innovation does not come from enterprises but from universities or government run facilities whom push for the new technology development, and then in turn sends out to the open market whatever is not deemed sensitive, so that enterprises can make en mass and sell.  It is evident that majority of Russia's advanced technologies come from either institutions owned by the government, or the universities themselves.  So Russia should be more involved in allowing more freedom to the Universities in what they can research, and provide grants to those whom are willing to work on what the government needs, and then if not deemed sensitive, sell it to an enterprise whom may see a way to profit off of it.


    Last edited by sepheronx on Fri Apr 25, 2014 5:13 am; edited 1 time in total
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    AlfaT8

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    Re: Russian Economy General News: #2

    Post  AlfaT8 on Fri Apr 25, 2014 5:13 am

    Hannibal Barca wrote:We are on a full agreement here.
    Do you know about the high school queens whose everyone wants to sleep with them?
    Can't say i have, we don't do proms around here, but from what i gathered from U.S TV its all about the perks you get when you "satisfy" her, sorta like serving the queen bee also makes you popular with the cool kids.
    For a reason really beyond my understanding every fucking catholic/protestant country was/is on a mission to try everything they could to see the planet.

    Now i wouldn't blame the country itself, just there puppet regimes that have been put there for US interest, then again it is the people that elected them with there inability to discern between a real and an illusionary democracy.

    As for "US dominating", i feel that those in the west have this strange belief that US dominating=World Peace, IMO. Neutral 
    There is no parallel in history of so blatant compliance.
    Not much of a history buff, so not sure, but i can say that what we define as "the world" today is different then how it was defined in the past.
    They even make it look like they deserve all this success, But they still remain 100% the spoiled rich kid who inherited everything and can't face real difficulties.
    Arrogant, believe they inherited everything from there victory in WW2 and delusional, yep that about sums it up.
    And let's not forget the notable exceptions of non-western convenient bitches like South Korea or Greece or Japan.
    S.Korea was U.S puppet state from day one.
    Japan got nuked to oblivion (despite being weeks away from surrendering) and then became a puppet.
    Greece falls under Europe, so is an automatic puppet state imo.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Fri Apr 25, 2014 5:22 am

    Russia’s international reserves go up to $ 482 bln on April 12-18
    MOSCOW, April 24 /ITAR-TASS/. Russia’s gold and foreign currency reserves (or international reserves) went up by 4.3 billion U.S. dollars over a week from April 12 through April 18, 2014, to reach 482 billion U.S. dollars, the Central Bank said on Thursday. Previously, such a considerable growth was registered at the end of November 2013.
    Russia’s international reserves have been growing for two weeks in a row. Over the preceding week (April 4 - April 11, 2014), Russia’s international reserves increased by 3.8 billion U.S. dollar and amounted to 477.7 billion U.S. dollars as of April 11. Thus, the two-week’s growth exceed eight billion U.S. dollars.

    Gazprombank becomes Russia's first commercial bank to open its office in South Africa
    PRETORIA, April 25 /ITAR-TASS/. Gazprombank has become Russia's first commercial bank to open its representative office in the Republic of South Africa (RSA).
    South African Deputy Minister of Finance Nhlanhla Nene, said in remarks at the presentation ceremony on Thursday that after two years of negotiations, Gazprombank had chosen the RSA as its base in Africa. He wished the Bank every success and thanked it for the shown trust in the South African economy.
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Fri Apr 25, 2014 10:19 am

    Hannibal, are you not Greek?

    I am but this doesn't prevent me from being objective. I can't understand what happened, people here are completely impotent, no excuses.
    They adopted and adored a culture from far away and completely irrelevant to ours.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Fri Apr 25, 2014 7:33 pm

    Seems that interest rates are up to 7.5% in order to deal with inflation. In this case, either someone lied (Which they did) and or Central bank is having trouble trying to understand whats going on. Inflation can be a problem, yes, but a bigger problem will be investments in enterprises and development. I think inflation can be fought later, after businesses are developed. Either that, or seek loans from Chinese banks then. But I have a feeling that Central Bank is really not working in Russia's favor in this case, as it seems like them trying to fight inflation is in itself working against their own economy.

    Also, S&P lowered Russia's ratings again, to BBB-. Non political my ass.
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Fri Apr 25, 2014 8:04 pm

    I don't know. Haven't been in Russia this year. Any guys live in Russia? I will speak with my Russian contacts tomorrow.
    I don't trust but only the street level intelligence in such matters.
    The data I have don't confirm a negative outlook so far but I will look further.
    There seem to exist a shortage of volatility that central bank try to address with higher interest rates and devaluation, this is the textbook procedure.
    If inflation doesn't slow down in the same time then yes this is gonna be worrisome.
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Fri Apr 25, 2014 9:07 pm

    Hannibal Barca wrote:I don't know. Haven't been in Russia this year. Any guys live in Russia? I will speak with my Russian contacts tomorrow.
    I don't trust but only the street level intelligence in such matters.
    The data I have don't confirm a negative outlook so far but I will look further.
    There seem to exist a shortage of volatility that central bank try to address with higher interest rates and devaluation, this is the textbook procedure.
    If inflation doesn't slow down in the same time then yes this is gonna be worrisome.

    My understand is inflation should be about 5 - 6% this year, which isn't that bad, not the worst. Interest rates though are kinda high. All depends on the cost of goods overall in Russia.

    Here in Canada, inflation is so bad, I saw my home jump over $60K in value in 1 year. Nothing has changed. Average home in Vancouver is over $800K. Low interest rates but massive inflation it seems. Yet we are told everything is OK here. High debt too, 85% of GDP. Yet our credit rating is higher than Russia's. I call total BS.

    Anyway, 7.5% isn't the worst. When my parents bought their house in Winnipeg back in 1985, interest rates was 18%.

    Hopefully this will not stump loans. Or Russian enterprises will have to look at Asia for loans then. This can affect people purchasing as people will purchase less or spend less on something, hurting the overall economy. As consumers are the ones driving the economy. Someone is obviously making money from these changes, and I am surprised the people are content with this. I know I wouldn't be.
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    Hannibal Barca

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    Re: Russian Economy General News: #2

    Post  Hannibal Barca on Fri Apr 25, 2014 9:25 pm

    Inflation in itself is not a bad thing. It is like if you tell me that you are 100kg. If you are 160cm then you are fat, if you are 2m you are fine.
    Back in 80s Canada was SUBSTANTIALLY better than any western economy can dream on being now, inflation was representing the dynamic aspects of Canada's economy at the time.
    You could make a fortune back then by working and having idle cash or in stock markets instead of real investment was a bad deal.
    Now there is no demand so every dollar printed just to keep the market afloat stays idle in stocks sending infation to the bottom.
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    Werewolf

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    Re: Russian Economy General News: #2

    Post  Werewolf on Fri Apr 25, 2014 9:32 pm

    Ratings and exchange course are all dictated by US rating agenturs and FED, since bretton woods, so it doesn't matter what ratings they give or what they adjust it is all baseless.
    The dollar is printed like there is no tomorrow because US knows it falls and it falls fast and can't prevent that, but still dollar didn't inflate the dollar value to 20-30 cents over time compared with other currencies, that is because they control ratings and exchange course and conceal what they can.
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    magnumcromagnon

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    Re: Russian Economy General News: #2

    Post  magnumcromagnon on Sat Apr 26, 2014 5:05 am

    sepheronx wrote:
    Also, S&P lowered Russia's ratings again, to BBB-.  Non political my ass.

    There should be an asterisk here, it should be noted that no matter what garbage rating Russia is labeled with China will still invest bare-minimum hundreds of billions of USD in to the Russian economy in the coming decades (trillions in totality including annual trade), and another asterisk should be that Standard & Poors is a corrupt ratings agency that is being sued (successfully) in 2 different countries (US and Australia) for giving excellent ratings for junk bonds, derivatives, securities in the real estate/housing market playing a huge part in the 2008 economic crisis, what credibility do they have when it comes to investing wisely?
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Sat Apr 26, 2014 5:04 pm

    Rosneft investments in Far East to reach 79 billion rubles by 2015 — Rosneft president
    KHABAROVSK, April 25. /ITAR-TASS/. Investments of Russian oil major company Rosneft will double to reach 79 billion rubles ($2.2 billion) in the Far Eastern Federal District by 2015, Rosneft President Igor Sechin said at a meeting of the governmental commission on socio-economic development of the Far East which Prime Minister Dmitry Medvedev is holding in the Siberian city of Khabarovsk on Friday.
    “Investments of the company in the Far Eastern Federal District have increased from 19 billion rubles (around $532.4 million) to 37 billion rubles (around $1 billion) from 2011 to 2013. By 2015 they will double again to 79 billion rubles,” Sechin said, adding that “in comparable prices, the annual growth will make around 25-30% from 2012 to 2015."
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    sepheronx

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    Re: Russian Economy General News: #2

    Post  sepheronx on Sun Apr 27, 2014 6:32 am

    Russia has proposal to create rating agency with foreign participation
    MOSCOW, April 27, /ITAR-TASS/. Russia has a proposal to create a rating agency with the participation of foreign capital - the investment will reach some 300 million U.S. dollars, RF First Deputy Prime Minister Igor Shuvalov said in an interview to the Rossiya 24 news television channel.
    “There is a proposal to organise international partnership with the participation of Chinese and American capital, as well as Russian capital. It’s a business proposal, without state participation. A good project with highly qualified specialists may appear. The capital to launch such project is estimated at 300 million dollars,” Shuvalov said.
    On Friday, Shuvalov said that a national rating agency, unlike the national payment system, should be an exclusively private project.
    “So far the discussions that have been held in the government have shown that if the national payment system requires, of course, serious attention from the Bank of Russia, for example, then the national rating agency may be an exclusively private project. But we will help it,” he said.
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    Viktor

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    Re: Russian Economy General News: #2

    Post  Viktor on Sun Apr 27, 2014 8:47 pm

    hm who could knew - largest in EU - 106MW solar power plant in Crimea

    Large-scale PV comes to the Ukraine: Activ Solar's Ohotnikovo and Perovo PV plants

    makes a nice addition to Russian might  Very Happy


    -- > EU second largest solar plant is also in Crimea + 551 windturbines (68.2MW)

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    Re: Russian Economy General News: #2

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