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    Russian Economy General News: #5

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    higurashihougi

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    Russian Economy General News: #5

    Post  higurashihougi on Wed Aug 05, 2015 10:01 am

    Russia put sanction against Ukrainian salt producer, Artemsol.

    Artemsol is a major salt producer of Ukraina, and it used to occupy 25% of Russian market.

    http://voicesevas.ru/news/15966-sol-kak-podmenili.html
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    JohninMK

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    Re: Russian Economy General News: #5

    Post  JohninMK on Wed Aug 05, 2015 11:04 am

    Karl Haushofer wrote:
    Neutrality wrote:
    Karl Haushofer wrote:
    magnumcromagnon wrote:
    Karl Haushofer wrote:
    Neutrality wrote:Norway, by the way, also has a massive oil and gas export. Why is no one bitching about them? I guess it's cool and hip to hate on Russia today.
    Norway would be a wealthy country even without oil. Oil just makes Norway a filthy rich instead of a wealthy country.

    They also have ridiculously high taxes, and a ridiculously high cost of living. Very few people are considered wealthy in Norway, the high wages is basically negated with high taxes, interlocked in a dance called 'zero-sum gain' tango.

    They have high taxes because they can afford that. They use the tax money for infrastructure and ridiculously beneficial social benefits.

    I have been to Norway. It is a paradise even compared to Finland.

    What are you talking about? What would be the locomotive behind high Norwegian wages then? Fish trade? Good luck with that.

    Norway was a wealthy country even before the current oil boom. Without oil Norway would be a tad below Sweden and Denmark and about the same level with Finland.
    No-one is bitching about Norway's gas/oil exports (gas now bigger into EU than Russia apparently) as they are part of the 'Club'.

    I am probably as well qualified as anyone here to comment on Norway as I have been in and out of the place since 1963 and was married there. There have been roughly three periods when (parts of) Norway was rich before now, driven by Vikings, whaling, herring and now oil/gas. Prior to oil in the early mid 70's it might have looked good but it was a façade driven by the high tax/spent socialist agenda, it was certainly not 'wealthy' throughout. Then came North Sea oil and everything changed over the next 10-15 years. They were indeed now wealthy and everyone was in on it.

    But that is changing. Norway has been hit harder economically over the past year than anyone. The oil price war struck them harder than Russia as it is more expensive to extract (you would not believe the pay packages and time on rig for workers) whilst the sanctions/counter sanctions have again hit them mainly in fish. First the Chinese stopped buying when Norway criticised their human rights, then last year Russia stopped both salmon and white fish imports. Lay-offs are rippling their way along the coast, especially in high income oil/gas development related companies. As to their wealth, they do have a huge social security fund (estimated to own 5% of European shares) but then they also have large overseas debts.

    To give you an idea of the problem, the Kroner has depreciated against the UK£ by around 15-20% over the past 18 months. Like others in the West they are caught up in the debt bubble.

    Anyway, that's enough OT.
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    Neutrality

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    Re: Russian Economy General News: #5

    Post  Neutrality on Wed Aug 05, 2015 2:28 pm

    JohninMK wrote:
    Karl Haushofer wrote:
    Neutrality wrote:
    Karl Haushofer wrote:
    magnumcromagnon wrote:
    Karl Haushofer wrote:
    Neutrality wrote:Norway, by the way, also has a massive oil and gas export. Why is no one bitching about them? I guess it's cool and hip to hate on Russia today.
    Norway would be a wealthy country even without oil. Oil just makes Norway a filthy rich instead of a wealthy country.

    They also have ridiculously high taxes, and a ridiculously high cost of living. Very few people are considered wealthy in Norway, the high wages is basically negated with high taxes, interlocked in a dance called 'zero-sum gain' tango.

    They have high taxes because they can afford that. They use the tax money for infrastructure and ridiculously beneficial social benefits.

    I have been to Norway. It is a paradise even compared to Finland.

    What are you talking about? What would be the locomotive behind high Norwegian wages then? Fish trade? Good luck with that.

    Norway was a wealthy country even before the current oil boom. Without oil Norway would be a tad below Sweden and Denmark and about the same level with Finland.
    No-one is bitching about Norway's gas/oil exports (gas now bigger into EU than Russia apparently) as they are part of the 'Club'.

    I am probably as well qualified as anyone here to comment on Norway as I have been in and out of the place since 1963 and was married there. There have been roughly three periods when (parts of) Norway was rich before now, driven by Vikings, whaling, herring and now oil/gas. Prior to oil in the early mid 70's it might have looked good but it was a façade driven by the high tax/spent socialist agenda, it was certainly not 'wealthy' throughout. Then came North Sea oil and everything changed over the next 10-15 years. They were indeed now wealthy and everyone was in on it.

    But that is changing. Norway has been hit harder economically over the past year than anyone. The oil price war struck them harder than Russia as it is more expensive to extract (you would not believe the pay packages and time on rig for workers) whilst the sanctions/counter sanctions have again hit them mainly in fish. First the Chinese stopped buying when Norway criticised their human rights, then last year Russia stopped both salmon and white fish imports. Lay-offs are rippling their way along the coast, especially in high income oil/gas development related companies. As to their wealth, they do have a huge social security fund (estimated to own 5% of European shares) but then they also have large overseas debts.

    To give you an idea of the problem, the Kroner has depreciated against the UK£ by around 15-20% over the past 18 months. Like others in the West they are caught up in the debt bubble.

    Anyway, that's enough OT.

    Thanks for sharing. I guess their social funding will also be cut since the big sack of money (oil) has become smaller.

    par far

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    Re: Russian Economy General News: #5

    Post  par far on Wed Aug 05, 2015 3:19 pm

    higurashihougi wrote:Russia put sanction against Ukrainian salt producer, Artemsol.

    Artemsol is a major salt producer of Ukraina, and it used to occupy 25% of Russian market.

    http://voicesevas.ru/news/15966-sol-kak-podmenili.html


    This is good news, we need to cut off all trade to Ukraine.
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    PapaDragon

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    Re: Russian Economy General News: #5

    Post  PapaDragon on Wed Aug 05, 2015 4:35 pm


    ''Belgium Lost Over $500Mln Due to Russia-EU Trade Restrictions''

    http://sputniknews.com/europe/20150805/1025421891.html
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    Neutrality

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    Re: Russian Economy General News: #5

    Post  Neutrality on Wed Aug 05, 2015 5:27 pm

    PapaDragon wrote:
    ''Belgium Lost Over $500Mln Due to Russia-EU Trade Restrictions''

    http://sputniknews.com/europe/20150805/1025421891.html

    I confirm and I'm quite sure it's more than that. Farmers will be holding a large protest against the Russian embargo in Brussels. The agriculture business was already doing badly before the Russian sanctions hit but now that they lost the Russian market you can imagine how terrible it is.
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    PapaDragon

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    Re: Russian Economy General News: #5

    Post  PapaDragon on Wed Aug 05, 2015 5:48 pm

    Neutrality wrote:
    PapaDragon wrote:
    ''Belgium Lost Over $500Mln Due to Russia-EU Trade Restrictions''

    http://sputniknews.com/europe/20150805/1025421891.html

    I confirm and I'm quite sure it's more than that. Farmers will be holding a large protest against the Russian embargo in Brussels. The agriculture business was already doing badly before the Russian sanctions hit but now that they lost the Russian market you can imagine how terrible it is.

    Well, nothing is ever terrible in Belgium but I am just glad that this Ukrainian clisterf*ck is becoming such a pain in everyone's arrogant ass.

    Speaking of which:

    ''Russian Market 'Almost Lost' for German Agriculture Due to Sanctions

    Joachim Rukwied, the head of the German Farmer Union, said that German farmers have lost 600-800 million euros due to sanctions against Russia''

    http://sputniknews.com/business/20150805/1025428085.html
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    Neutrality

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    Re: Russian Economy General News: #5

    Post  Neutrality on Wed Aug 05, 2015 7:09 pm

    PapaDragon wrote:
    Neutrality wrote:
    PapaDragon wrote:
    ''Belgium Lost Over $500Mln Due to Russia-EU Trade Restrictions''

    http://sputniknews.com/europe/20150805/1025421891.html

    I confirm and I'm quite sure it's more than that. Farmers will be holding a large protest against the Russian embargo in Brussels. The agriculture business was already doing badly before the Russian sanctions hit but now that they lost the Russian market you can imagine how terrible it is.

    Well, nothing is ever terrible in Belgium but I am just glad that this Ukrainian clisterf*ck is becoming such a pain in everyone's arrogant ass.

    Speaking of which:

    ''Russian Market 'Almost Lost' for German Agriculture Due to Sanctions

    Joachim Rukwied, the head of the German Farmer Union, said that German farmers have lost 600-800 million euros due to sanctions against Russia''

    http://sputniknews.com/business/20150805/1025428085.html

    This is just the amount of money directly affected. What about people losing their jobs? Purchasing power going down. Investments disappearing. Taking down companies that were intertwined? Ford in Belgium is a good example. When Ford went out of business in Belgium, over several thousand people lost their jobs and the businesses that were dependent on the factory went out too. The government was forced to put most of these people on early retirement. That's a huge chunk out of the social budget.
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    flamming_python

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    Re: Russian Economy General News: #5

    Post  flamming_python on Wed Aug 05, 2015 8:39 pm

    higurashihougi wrote:Russia put sanction against Ukrainian salt producer, Artemsol.

    Artemsol is a major salt producer of Ukraina, and it used to occupy 25% of Russian market.

    http://voicesevas.ru/news/15966-sol-kak-podmenili.html

    Yeah, what did I tell you all in the other thread about Russia continuing to tighten the screws, huh?

    And some of you are all like 'OMG Russia supportz Maidan!'
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    PapaDragon

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    Re: Russian Economy General News: #5

    Post  PapaDragon on Wed Aug 05, 2015 9:18 pm


    I'm killin' it today... lol1 russia

    Beyond Expectations: Russia's Service Sector Showing Astonishing Growth

    Russia's services sector is demonstrating astonishing growth, hitting a 20-month high in July, despite low oil prices and an anti-Russia sanctions policy maintained by the West.


    http://sputniknews.com/russia/20150805/1025433111.html

    Contrary to US President Obama's gloomy predictions, Russia's economy is not in tatters, a Markit survey has indicated Wednesday.

    "July's headline Business Activity Index for the [Russian] service sector recorded a level of 51.6, up from 49.5 in the previous month… Moreover, the rate of growth accelerated to the highest recorded for twenty months amid reports that a more positive economic climate was driving demand for services upwards," the latest report released by Markit, a global provider of financial information services, reads.

    The report notes that the respective Composite Output Index improved to 50.9 in July, up from 49.5 in the preceding month.

    The rate of inflation eased to the lowest seen for 11 months, while the unemployment rate "inexplicably" declined to 5.4 percent.

    "Amid reports of a gradually improving business climate, which led to the best increase in new work for 20 months, the Russian service sector helped to drive some marginal growth of the economy at the start of the third quarter of 2015," Senior Economist at Markit Paul Smith emphasized in the report.

    In general, Russia has done better than anyone expected, Western experts admit.

    In mid-July Russian Prime Minister Dmitry Medvedev claimed that the worst scenarios for Russia's economy have been avoided.

    "The worst scenarios, perhaps, did not take place. The economic situation remains difficult, but controlled, thanks, among other things, to the joint work of the government, the Central Bank, the legislature," Medvedev said.

    In turn Russia's Economy Minister Alexey Ulyukayev emphasized that Russia had already passed "the lowest point," adding that from the third quarter, "there will be some adjustment."

    The Russian economy had previously faced a downturn caused by the global fall in oil prices and, to a lesser extent, by sanctions policy imposed by the West.

    Vann7

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    Re: Russian Economy General News: #5

    Post  Vann7 on Wed Aug 05, 2015 10:34 pm

    flamming_python wrote:
    higurashihougi wrote:Russia put sanction against Ukrainian salt producer, Artemsol.

    Artemsol is a major salt producer of Ukraina, and it used to occupy 25% of Russian market.

    http://voicesevas.ru/news/15966-sol-kak-podmenili.html

    Yeah, what did I tell you all in the other thread about Russia continuing to tighten the screws, huh?

    And some of you are all like 'OMG Russia supportz Maidan!'

    yeah because they don't understand that Ukraine still trade with Russia and benefit its economy..
    It will be silly for Russia to cut trade without any local replacement substitution. Aside that a full scale war with Ukraine even if is a skirmish war , it will be more expensive . and the open doors
    of Russia also allows the possibility of they changing their hostile stance over long period. Which their economy and dependence in Russia will ultimately force them.. to have good relations with Russia and put an end to the war.. It is only the Western Loans and Americans that keep the Ukraine conflict going.. had the IMF not supplied any loan to ukraine ,the war will have ended for lack of funds , and Donetsk and Lugansk already independent.


    In the topic about next Russia President..  
    I propose..   Alexander Zakharchenko  ,who was a miner before the conflict and today
    the Prime Minister of Donetsk republic..  



    anyone else agree? Smile

    Naturally all this possibility is based in my belief that Ukraine will disband in many countries and Donetsk and Lugansk will become part of Russia. In the other hand Igor Ivanovich Strelkov
    will have taken my vote.. but he lacks of experience in politics..he is more a military guy.. So perhaps Zakharchenko as President and Strelkov as defense minister. Very Happy

    Svyatoslavich

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    Re: Russian Economy General News: #5

    Post  Svyatoslavich on Thu Aug 06, 2015 1:44 am

    Karl Haushofer wrote:Norway would be a wealthy country even without oil. Oil just makes Norway a filthy rich instead of a wealthy country.
    Really? It is way less industrialized than its neighbours Finland and Sweden (which, by the way, have no oil). Anyone can name at least two Swedish or Finnish global corporations. Which are Norway's? Statoil. And what is its business?

    Austin

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    Re: Russian Economy General News: #5

    Post  Austin on Thu Aug 06, 2015 3:55 pm

    kvs , today the rouble is at 64 with Brent at 49 , what happens of Brent reaches 40 and Rouble reaches 70-75 ?

    What is the consequences of such weak rouble on Russian economy in terms of inflation and how it affects the people and economy
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Thu Aug 06, 2015 4:02 pm

    Then outside goods become even more expensive while a demand is still in place, so it becomes more ideal for local developers to develop it themselves. See Iran for example. Still producing, still consuming and still giving the us a middle finger while their currency dropped more than 3 fold from 1979 to now.

    Or they could stop free floating rouble as speculators effectively tied it to oil when that isnt what free floating was supposed to do (so speculators won) so they could tie it to something officialy or have capital controls. But those normally do not work.
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    max steel

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    Re: Russian Economy General News: #5

    Post  max steel on Thu Aug 06, 2015 4:19 pm

    Inflation will return but 1 rouble to 60 dollar is the ideal value now and we can only hope it to stay there. Oil prices are expected to go down further due to Iran glut but its difficult to speculate.
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Thu Aug 06, 2015 4:27 pm

    max steel wrote:Inflation will return but 1 rouble to 60 dollar is the ideal value now and we can only hope it to stay there. Oil prices are expected to go down further due to Iran glut but its difficult to speculate.

    We cant guarantee inflation will return. Prices on imported goods will rise and domestic may as well but the rates wont be the same.

    Most manufacturers/industries made money from low rouble but domestic consumers were hurt. But domestic consumers cant not buy anything indefinately but will find it harder. That is, of wages do not meet inflation (which they are pushing with minimum wage by 7%, which still isnt enough imo).

    My bet is the CBR will purchase a ton of roubles. Last time it was only a 120M purchase. This time it could be a billion or more. Which will increase the value but decrease forex.
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    PapaDragon

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    Re: Russian Economy General News: #5

    Post  PapaDragon on Thu Aug 06, 2015 4:44 pm

    sepheronx wrote:Then outside goods become even more expensive while a demand is still in place, so it becomes more ideal for local developers to develop it themselves. See Iran for example. Still producing, still consuming and still giving the us a middle finger while their currency dropped more than 3 fold from 1979 to now.

    Or they could stop free floating rouble as speculators effectively tied it to oil when that isnt what free floating was supposed to do (so speculators won) so they could tie it to something officialy or have capital controls. But those normally do not work.

    If it is still tied to oil despite everything, then why don't they just switch to gold standard?

    They tried everything else...

    Prince Darling

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    Re: Russian Economy General News: #5

    Post  Prince Darling on Thu Aug 06, 2015 4:53 pm

    now is the time, for local producers to export in turn hiring more people (or raising wages when we get to that 3% unemployment line), especially in industries that are dependant on low oil prices (growing such and industry base will offset future oil prices shocks for the entire economy), but as always russia needs more exportable consumer goods

    papa, you dont quite understand "tied to oil", it means that rouble is being pushed by oil because oil makes a huge % of the economy (and even larger % of exports)
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Thu Aug 06, 2015 4:54 pm

    There is a lot they can do. Trying to stay "honest" when everyone else isnt (see EU, US and Jap "QE"), there is plenty more options.

    Tie it to gold. Reduce interest rates to 0% and let rouble devalue but local investments surge. Purchase more roubles with USD, drastically increase rouble purchases will increase its value. Capital controls. Etc etc etc.

    Economics in banking and currency isnt a science. It is a religion.
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    PapaDragon

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    Re: Russian Economy General News: #5

    Post  PapaDragon on Thu Aug 06, 2015 7:16 pm

    ''Sanctions Leave German Farmers Without Russian Market – German Media

    German farmers have been hit hard by the Russian food embargo. Their approximate losses range from 600 to 800 million euros, Der Tagesspiegel wrote.''


    http://sputniknews.com/europe/20150806/1025472617.html


    EDIT: Those jackals were charging 60€ for 100kg of apples?

    Mother f*ckers!!! angry

    Project Canada

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    Re: Russian Economy General News: #5

    Post  Project Canada on Thu Aug 06, 2015 8:17 pm

    Russia begins mass destruction of illegally imported food

    http://www.rt.com/business/311759-russia-food-embargo-destruction/


    I dont know why it is such a big issue for some people in Russia (mostly opposition) when the ruble is trading like 60 per US dollar, I know it's lost its value but why even bother compare it to the US dollar? an Enemy currency, a currency of a nation that has limitless hostilities against Russia! this is the primary reason why Putin should work double time to thrash the US economy and demolish it completely from it's current position as the dominant economic power in the world.
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    PapaDragon

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    Re: Russian Economy General News: #5

    Post  PapaDragon on Thu Aug 06, 2015 9:02 pm

    Project Canada wrote:Russia begins mass destruction of illegally imported food

    http://www.rt.com/business/311759-russia-food-embargo-destruction/


    I dont know why it is such a big issue for some people in Russia (mostly opposition) when the ruble is trading like 60 per US dollar, I know it's lost its value but why even bother compare it to the US dollar? an Enemy currency, a currency of a nation that has limitless hostilities against Russia! this is the primary reason why Putin should work double time to thrash the US economy and demolish it completely from it's current position as the dominant economic power in the world.

    No need to get all dramatic my friend. That petition was on Change.org which is US website so it is only an issue for USA crowd (read Ukrainian) Wink

    Contraband burns, mass media trolls, life and business goes on...

    Prince Darling

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    Re: Russian Economy General News: #5

    Post  Prince Darling on Thu Aug 06, 2015 9:03 pm

    Project Canada wrote:Russia begins mass destruction of illegally imported food

    http://www.rt.com/business/311759-russia-food-embargo-destruction/


    I dont know why it is such a big issue for some people in Russia (mostly opposition) when the ruble is trading like 60 per US dollar, I know it's lost its value but why even bother compare it to the US dollar? an Enemy currency, a currency of a nation that has limitless hostilities against Russia! this is the primary reason why Putin should work double time to thrash the US economy and demolish it completely from it's current position as the dominant economic power in the world.

    russia isnt really connected to the us economy so the potential for thrashing is very limited, the us potential for thrashing is primarily through the financial system, so being a member in key alternative financial institutions is the best antidote you can have, some good moves have been made on the BRICS level.

    oh yeah and the destroying food idea is pretty bad, why destroy when you can confiscate and use the food if its not suitable for people, you can use at least some of it to feed livestock or if nothing else donate it as scraps to compost producers or something, just dont burn and waste it
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    max steel

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    Re: Russian Economy General News: #5

    Post  max steel on Fri Aug 07, 2015 12:05 am



    Fuck the EU

    North Korea's economy grew faster than the Eurozone last year


    http://www.businessinsider.com.au/north-koreas-economy-grew-faster-than-the-eurozone-last-year-2015-7
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    sepheronx

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    Re: Russian Economy General News: #5

    Post  sepheronx on Fri Aug 07, 2015 12:43 am

    Agriculture - Agrarians of the Crimea has fully provided for the Peninsula food wheat
    Growers Russian Crimea has fully provided for the Peninsula food wheat. The main volume of the Crimean harvest — 800 thousand tons of high quality grain durum. In Russia a good wheat harvested only Tauris and Kuban.

    On the first week of August already cleaned 470 thousand hectares of fields and harvested 1.36 million tons of grain. All Crimeans are planning to collect in the range of 1.5 million tonnes, which is 27% more than last year.

    Production - Ford started to use Russian plastic for production cars
    Automaker Ford Sollers started to install on their cars out plastic parts developed in Russia. As stated in the company first got them models of Ford Focus and Ford Fiesta.

    Just from a local plastics currently produced 86 of machine parts for Ford, and by the end of 2015 , that number will grow to 150.

    A sign that even foreign based companies that have production in Russia, Russian parts are becoming popular due to cheaper production/costs.

    Production - Ural manufacturers have successfully tested the import-substituting equipment for drilling rigs
    Ural Industrialists invented and conducted a successful operational tests of import-substituting top drive systems (TDS 320 ACR) for drilling rigs. The equipment designed "Uralmash NGO holding", was tested on Orbiscom field in Khanty-Mansiysk, where it has drilled three wells with a total depth of 11 kilometers.

    New Factory - In Bogorodsk, Nizhny Novgorod region opened a factory of concrete blocks
    Factory LLC "Paritet-NN for the production of concrete blocks was opened in Bogorodsk on Thursday, August 6. The capacity of the production line of the enterprise will be 144 thousand cubic meters per year, which would allow for the construction of 270 thousand square meters of housing.

    IT - Almaz-Antey Russian selects CAM SprutCAM
    LTD "Almaz-Antey telecommunications" (Moscow), part of the concern PVO "Almaz-Antey", chose SprutCAM — domestic CAM system for the development of control programs for machines and machining centres with CNC and industrial robots.

    LTD "Almaz-Antey telecommunications" ("AAT") — the first state system integrator. One of directions of activity of "AUTOANTIBODIES" — is the design, manufacture and sale of Russian complexes with industrial robots for automation of various technological processes, including complexes with robots for 3D milling.

    Export - Holding "Schwabe" put optical sights in Germany
    Company of the holding "Schwabe" — JSC "Vologda optical and mechanical plant" (JSC "voms") — supplied Germany with optical sights for hunting and sporting weapons, as well as brackets.
    The contract was signed following the talks, held in early March at the 42nd International trade fair IWA & OutdoorClassics in Nuremberg. Active participation in international exhibitions allows JSC "was" to increase exports of its products, which now comes in 21 countries.

    Funny that Germany still imports goods from Russia.

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