Mikhail Prokhorov was born on May 3, 1965 in Moscow and is a Russian self-made billionaire. He made his name in the financial sector and went on to become one of Russia’s leading industrialists in the precious metals sector. In the summer of 2011 he led the Right Cause party. On December 12, 2011, Prokhorov [...]
Tag: Finance
December 12, 2011
December 12, 2011
Russian ex-finance minister says may establish new political party
It is an ideal time for establishing a new Russian right-wing party as the country’s “political landscape” is changing, former Russian Finance Minister Alexei Kudrin said in an interview with Vedomosti business daily published on Monday. New Russian party to be established In the first interview after his scandalous dismissal, Kudrin, who fell out with [...]
November 24, 2011
Rule change good for banks but bad for savers
Finance Ministry plans to help Russian banks with their liquidity aren’t going to go down well with the country’s savers. The proposal would curb withdrawals from bank accounts, and would be added as a new line in all contracts between depositors and the banks. “The massive withdrawal of deposits before the repayment period leads to [...]
November 17, 2011
Putin and his Russia don’t deserve the bad rap…
Putin and his Russia don’t deserve the bad rap.In the right light, we see Russia and Putin have taken some undue heat. Here’s a look at some of the most serious accusations leveled at Putin and his Russia. One of the rare good articles that came out of the Western Media. In fact as the [...]
November 12, 2011
Ex-Finance Minister: New crisis at the gate
“The fuze is already burning,” says Russia’s former Finance Minister Aleksey Kudrin. He says the global economy is balancing on the brink of another recession and the second financial crisis is already upon us. Talking at the International Sberbank Business Breakfast on Saturday, Kudrin took a pessimistic view of the future for the global economy. [...]
November 8, 2011
Russia’s banks to bid for fresh government loans
Russian banks are asking for less money than the Ministry of Finance has actually offered, with the offer from the primary regulator almost tripling its previous one. Russia’s Finance Ministry has agreed to lend 205 billion roubles to the country’s banks at an interest rate of 6.2%. The government offer exceeds what the country’s banks [...]
October 31, 2011
Russia could shoot $10 billion into sluggish Europe
Moscow could allocate as much as $10 billion through the IMF to help indebted European countries, says presidential aide Arkady Dvorkovich. Though European debtors haven’t yet officially applied for financial assistance from Russia, Dvorkovich says if they file, “the relevant authorities – the Finance Ministry, Central Bank, government, and the president, whose approval will also be [...]
October 27, 2011
Germany approves boosting of EU’s bailout fund
Another EU leaders’ summit has kicked off in Brussels aimed at taking concrete steps to deal with the Eurozone debt crisis. Ahead of that, German legislators agreed to support a massive expansion of the European bailout fund. In one of the first decisions to emerge from the summit, big European banks will be required to [...]
October 18, 2011
October 10, 2011
Kudrin dismissed from government’s military and integration commissions
Russian Prime Minister Vladimir Putin dismissed former Deputy Prime Minister and Finance Minister Aleksei Kudrin from his posts in the government’s military-industrial and economic development and integration commissions on Monday. Kudrin, who headed Russia’s Finance Ministry since 2000, resigned on September 26 after a public conflict with President Dmitry Medvedev. Kudrin was also dismissed from [...]
October 10, 2011
Russia may help Europe out of crisis
Russia does not rule out the possibility that it may help Europe overcome the crisis when it declares its final strategy, Russia’s presidential economic advisor Arkady Dvorkovich announced on Monday. “We are waiting for the European countries to announce a specific and comprehensible strategy to come out of the recession. If they need Russia’s aid [...]
October 5, 2011
Cyprus wants 2.5 bln euro loan from Russia
Cyprus plans to get a 2.5 billion euro loan from Russia, Cyprus Government Spokesman Stefanos Stefanou said on Wednesday. The loan for 4.5 years may be granted at an interest rate of 4.5 percent and the credit line may be opened in January 2012, Stefanou said, adding that country’s cabinet of ministers hoped to get [...]
September 30, 2011
Government submits three-year draft budget to parliament
The Russian government has submitted its draft 2012-2014 budget, drawn up by former Finance Minister Alexei Kudrin, to the State Duma lower chamber on Friday. Acting Finance Minister Anton Siluanov will present the bill to the Duma, the government’s plenipotentiary in the lower chamber Andrei Loginov told reporters. The first reading is scheduled for October [...]
September 28, 2011
Finance Official Murdered in Podolsk
Finance Official Murdered in Podolsk The St. Petersburg Times Published: September 28, 2011 (Issue # 1676) MOSCOW — In the second high-profile murder in the Moscow region in a month, the official who oversaw the finances of the city of Podolsk — the region’s third-biggest municipality — was gunned down in her home on Monday. Vera Sviridova, 53, was shot in the head in her private house in the nearby [...]