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    Russian Economy General News: #8

    kvs
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    Post  kvs on Fri Oct 13, 2017 6:51 pm

    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.
    miketheterrible
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    Post  miketheterrible on Fri Oct 13, 2017 8:38 pm

    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.
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    Post  Austin on Sun Oct 15, 2017 8:54 am

    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.

    Arnt CB doing the same mistake that Fed did by re-capitilisation of Bank in 2008 rather then let it fail because these banks took wrong bets . so why use public money to capatilise the bank ?
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    Post  Austin on Sun Oct 15, 2017 9:29 am

    Gold Rush: Russia Stockpiling Bullion Like There's no Tomorrow

    https://sputniknews.com/analysis/201710141058226369-russia-gold-reserves/

    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.
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    Post  Austin on Sun Oct 15, 2017 9:30 am

    If I do the back of paper calculation 5000 T of Gold would be worth ~ $200 billion.

    I would say Russia needs that kind of Gold Reserves and Quickly ....Germany has 4000 T of Gold Reserves a Punny Country lacking in Natural Resources.

    Ideally CBR should keep Gold Reserves of 10,000 T that would take care of any eventuality
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    Post  Austin on Sun Oct 15, 2017 9:36 am

    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.

    Exactly and this is just Gazprom , Rosneft has mentioned in their Annual Report of Reserves around ~ 250 bboe.

    Reason I am against Sale of Rosneft/Gazprom to foreign partner , They buy Cheap and have a virtual free ride on Russian Resources.
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    Post  Austin on Sun Oct 15, 2017 9:45 am

    Siluanov: Russia can reach a deficit-free budget in 2019

    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4646041

    "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.


    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4646041
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    Post  Austin on Sun Oct 15, 2017 9:45 am

    What is known about the high-speed highway "Eurasia"

    http://tass.ru/wfys2017/articles/4643534
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    Post  Austin on Sun Oct 15, 2017 9:47 am

    Gazprom Refuels Russian Railways Locomotives with LNG

    http://www.ngvglobal.com/blog/gazprom-refuels-russian-railways-locomotives-lng-0918
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    Post  Austin on Sun Oct 15, 2017 11:03 am

    Siluanov announced the readiness of the Russian budget for a possible expansion of US sanctions

    http://www.interfax.ru/business/583214
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    Post  Austin on Mon Oct 16, 2017 7:22 pm

    Investments in circumvention of sanctions

    https://iz.ru/659196/pavel-panov/investitcii-v-obkhod-sanktcii

    Foreign companies are ready to invest billions of dollars in the Russian economy

    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.
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    Post  Austin on Mon Oct 16, 2017 7:25 pm

    So FDI in Russia since 1994 since the establishment of Advisory Council on Foreign Investment is more than $165 Billion
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    Post  Austin on Mon Oct 16, 2017 7:41 pm

    The budget of 2018-2020 is aimed at increasing the economy and increasing the incomes of the population

    Подробнее на ТАСС:
    http://tass.ru/ekonomika/4650443
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    Post  Austin on Wed Oct 18, 2017 5:42 pm

    Rogozin proposes to prohibit state purchases of imported software without disclosing the source code

    Подробнее на ТАСС:
    http://tass.ru/armiya-i-opk/4656570

    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.


    Подробнее на ТАСС:
    http://tass.ru/armiya-i-opk/4656570
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    Post  PapaDragon on Fri Oct 20, 2017 3:58 pm

    '
    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? lol1

    Ukraine the breadbasket of Europe my sweet white ass...Razz
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    Post  flamming_python on Fri Oct 20, 2017 4:58 pm

    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? lol1

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

    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?
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    Post  franco on Fri Oct 20, 2017 5:36 pm

    Economic growth for the past 12 months 2.4% and 2.2% for the first 9 months of 2017.

    https://rg.ru/2017/10/20/reg-ufo/oreshkin-dolozhil-vladimiru-putinu-o-roste-vvp-i-novyh-proektah.html
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    Post  Austin on Tue Oct 24, 2017 6:28 pm

    Russian economy overcomes stagnation — Putin

    More:
    http://tass.com/economy/972269
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    Post  Austin on Wed Oct 25, 2017 7:16 pm

    Novak told about the cost price of oil production in Russia

    https://ria.ru/economy/20171025/1507529919.html

    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.
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    Post  Austin on Wed Oct 25, 2017 8:00 pm

    Valentin Katasonov: Currency liberalism leads Russia to disaster

    The management of the financial and economic block serves the "Washington Consensus"


    https://svpressa.ru/economy/article/184433/
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    Post  Austin on Fri Oct 27, 2017 8:15 am

    New US sanctions may affect 39 Russian entities

    NYT published a version approved by the State Department list, which included "Rostekh", "Kalashnikov", as well as the FSB, SVR and GRU

    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 .
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    Post  GunshipDemocracy on Sat Oct 28, 2017 2:31 am

    The fact is that now war enters new stadium. Anybody who is going to buy Russian hi-tech is gonna end-up in sanctions list. This surely hits Russian export. Military? not only imagine many goods can be treated as dual purpose but engineered with help of military companies...

    The question is if everybody can be terrorized (India, Turkey Saudis)? Small countries have to choose. Iran would be nice exemption but here Zionist Vth column in Russia is hampering cooperation I am afraid. Since situation goes more and more tense I hope US dies in an orderly manner not going down in flames Smile




    The Central Bank reduced the key rate

    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.

    РИА Новости https://ria.ru/economy/20171027/1507704840.html
    miketheterrible
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    Post  miketheterrible on Sat Oct 28, 2017 3:48 am

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

    Turkey told US to go to hell, so has India (since it is now investing in Russia and Crimea) China doesn't recognize the sanctions and drastically increased investments in Russia,  Saudi Arabia, UAE, Egypt, Iraq, etc all wanting further business deals with Russia. US allies like Japan and South Korea invested heavily in Russia at recent deals.

    Its come to the point the US will eventually admit they lost influence and many countries are looking out for themselves. Only nations that will stick to US like glue are the retard blocs like Baltic nations.

    Even Slovenia wants to increase Russian imports.

    Sanctioning United Engine corporation will hurt US NASA Roscosmos agreements.
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    Post  Cyberspec on Sat Oct 28, 2017 5:41 am

    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?

    Maybe, but doesn't sound like it..

    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..

    I think they're shocked that now they've got serious competion so they're doing all they can to eliminate it ....the problem is not just that Russia, China are rising, problem is they themselves haven't got the same clout or power they had 25-30 years ago. To me it looks like all this hysterical chest beating, yelling and screaming isn't really intimidating anyone
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    Post  kvs on Sat Oct 28, 2017 5:59 am

    Indeed, this is a pathetic attempt by Uncle Scumbag to keep his racket going. But as noted above, the world is moving on and
    Uncle Scumbag looks more and more like a clown.

    What is happening is that the so-called developing world now accounts for over 50% of global GDP and is quickly moving to 70%.
    (In fact, the GDP figures for the USA and its vassals are inflated since they have offshored their industrial production). In the
    1970s the so-called west (mostly NATO) accounted for 70% of the world's GDP. The west is in a panic since it is losing its
    economic dominance which it has had for centuries. We are living in truly historic times. The west targets Russia because
    Russia can design anything the west can, but cheaper and often better. So there is a natural tendency for Russia to have
    an economic leadership position with most of the world. Western elites are trying to make an example out of Russia by sabotaging
    its economy and terrorizing the rest of the world into conformity.

    Too bad for the west, but they have chosen the wrong country to pick on. These f*cking morons clearly don't know their
    history. The west always loses when it attacks Russia. And today Russia is officially committed to fight any war outside
    its borders. That is, there will not be some front rolling across Russia while NATO parasites live the easy life. NATO armies
    will be tactically nuked. And if NATO feels it can in a nuclear war against Russia, then NATO is a good example of lunatics
    running the insane asylum.

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