Articles by William Mauldin



People Hedging on Ruble Fears

  • 15 December 08
  • Bloomberg
Moscow resident Tima Kulikov banked on the full faith and credit of the U.S. government, not the Kremlin, when he sold his biggest asset for cash.

MICEX Chief Sees Similarities to 1929

  • 09 October 08
  • Bloomberg
The 67 percent decline in Russian equities this year resembles the U.S. stock market crash of 1929 because of the damaging effect of highly leveraged investors, MICEX chief executive Alexei Rybnikov said Wednesday.

Stocks Drop Sharply After Bank Bailouts

  • 30 September 08
  • Bloomberg
The MICEX Index experienced its largest drop since regulators closed local exchanges Sept. 16, sinking 5.5 percent to 1,019 points as bank stocks led the way down on concern that more European banks will fail with repercussions for borrowing rates and liquidity in the country.

6 Big Firms May Buy Back $17Bln of Stock

  • 16 September 08
  • Bloomberg
Energy and metals giants say they can or will buy back shares with cash to help falling markets.

Stocks Rebound on Higher Oil Price

  • 28 August 08
  • Bloomberg
Russia's MICEX Index on Wednesday rebounded from the lowest level in almost two years as higher oil prices lifted shares of energy producers.

Resolution, Oil Prices Push Markets Lower

  • 26 August 08
  • Bloomberg
Russian stocks fell to their lowest since 2006 on concerns that the recognition of two breakaway Georgian regions will renew tensions in the area, while lower oil prices may curb the earnings of energy companies.

Merrill Sees Big Ruble Gain in Q1

  • 07 February 08
  • Bloomberg
Merrill Lynch on Wednesday advised clients to buy the ruble against the dollar on speculation that the government will let the currency strengthen to slow inflation.

SocGen to Control Rosbank

  • 03 July 07
  • Bloomberg
Societe Generale, France's second-biggest bank by market value, said it would seek approval to acquire a majority stake in Rosbank, the lender controlled by billionaire Vladimir Potanin.

Stock Picker Goes Shopping for Good Service

  • 16 April 07
  • Bloomberg
Zina Psiola bases her choices on a mixture of mathematics and a feel for what the consumer wants.

Deutsche Bank Lifts Russian Stocks Grade

  • 14 March 07
  • Bloomberg
Investors should buy Russian stocks because the country's energy shares have become a good value, and consumer spending is growing at the fastest pace in the developing world, Deutsche Bank said.

Bull and Bear Business

MICEX chief executive Alexei Rybnikov knows all about the art of applying one's brain to make money.

MICEX, RTS Trading Volume Off the Charts

The total market value of publicly traded equity reached the $1 trillion mark in early December.

Losing Out on Exchange Rates

Making assumptions about the currency of hotel bills or air ticket fares can be a costly mistake.

Evraz Pays $2.3Bln for U.S. Steel Firm

Evraz said Monday that it would buy U.S.-based Oregon Steel Mills for $2.3 billion, the latest in the feverish round of steel-industry consolidation that has pushed steel stocks to record highs.

Stocks Holding Firm Amid Oil Price Drop

The RTS and MICEX were up until oil prices started to drop late Thursday. Analysts predicted a shift away from oil and metals.

Rosneft Shares Fall on Snub

Rosneft shares dropped Wednesday after MSCI Barra said the oil company would not be included in its emerging markets indexes.

'Rhino' Aims at Foreign Conquest

Dangerous. Unpredictable. Strange. Those are the three words that pop up in Western investors' minds when they think of the Russian business world, a top international consulting firm said Tuesday. And what image comes to mind? A blundering rhinoceros, apparently.

Binge Spending Stokes New Year's Inflation

For thousands of government agencies and organizations, it's time to begin an entertaining but potentially harmful holiday tradition: the end-of-year spending spree.

RTS Hits 6-Month High on Surging Oil

The country's equity indexes reached new highs Friday, following a rise in oil prices and the news of the World Trade Organization deal with the United States.

Economists See End to Liquidity Squeeze

Over the last couple of weeks, banks have seen a liquidity squeeze similar to the one during the mini-crisis of 2004.

Barrick Increases Its Highland Gold Stake

Canada's Barrick Gold will boost its stake in Highland Gold to 34 percent from 20 percent, said officials from Highland Gold.

Auto Insurance Law Cleans Up Roads

The new rules mean drivers will not be able to wipe their insurance records clean by switching vehicles.

Gazprom Fall Cancels Out Oil Prices Rally

The gas giant's shares fell Friday as it announced an ambitious $69 billion investment program through 2009.

Gazprombank Looking to Go Public

A spokesman says preparations to sell 'not less than 10 percent' could take two to three years.

Sberbank Share Sale May Hit VTB's IPO

Sberbank is considering selling up to $10 billion in new shares to investors in the next year, but analysts said Tuesday that the move could hurt the IPO plans of the other big state-controlled bank -- VTB.

Greenspan Slams National Champions

Former U.S. Fed chief Alan Greenspan on Thursday criticized Russia's national champions as economically harmful and anti-competitive.

Borrowing More, Missing More Payments

The Central Bank warns that the number of overdue retail loans is soaring.

Oil Rebound Sends the RTS Past 1600

The country's top integrated oil producers are valued attractively, UBS chief strategist Al Breach says.

Tiaras and Pinstripes Collide

Yelena Tyurina's brain got her hired at Olma financial firm, where she helps run the client services division.

Banks Less Opaque, S&P Says

The country's top 30 banks have become slightly more transparent over the last year as they seek to go public and borrow abroad, but they continue to trail top international banks in disclosure and corporate governance, ratings agency Standard & Poor's said Thursday.