Alexander Morozov News
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Russian President Vladimir Putin’s changing attitude toward two giant government-led high-tech projects sends a troubling message about his third term in office: Maintaining power is more important than modernizing the economy.
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OAO Sberbank, Russia’s largest bank, is considering following rival VTB Group by borrowing in Asia to explore new sources of funding.
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The Finance Ministry, OAO Cherkizovo Group and OOO KB Renaissance Capital are among issuers that are planning to sell bonds in domestic and international markets.
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Ukraine will probably let its currency devalue 10 percent to 9 hryvnia per dollar by year-end to restart International Monetary Fund financing, according to HSBC Holdings Plc.
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Russian manufacturing rebounded in January from a 15-month low as an increase in domestic business helped propel new orders at the fastest pace since March 2011, HSBC Holdings Plc said.
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Russian investment unexpectedly contracted in December from a year earlier, dropping for the second time in four months, as the dimming economic outlook prompted businesses to cut back spending.
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Russian consumer prices rose more than economists estimated in January, advancing at the fastest rate in 15 months and bolstering the central bank’s case to resist government calls for lower borrowing costs.
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Russian manufacturing growth eased in December from an eight-month high after new orders slowed and export demand weakened, HSBC Holdings Plc said.
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Russia’s biggest retirement funds are uniting to scuttle a pension revamp they say would decimate an industry that’s poised to amass more than $70 billion.
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Kazakhstan’s tenge may strengthen more than 5 percent by the middle of next year as accelerating inflation forces the central bank to allow the currency to appreciate, HSBC Holdings Plc said.
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