Articles by Darya Korsunskaya



Firms Eye $5.5Bln in Deals in China Visit

  • 09 October 09
  • Reuters
The 34 deals will range from a $500 million loan agreement between China's Development Bank and VEB to joint projects in transport, infrastructure, construction and mineral extraction.

Putin Offers More Cash to AvtoVAZ

  • 06 October 09
  • Reuters
But the prime minister did not say how much more money the government would commit in addition to the 25 billion rubles ($830 million) already disbursed.

Gref Says Sberbank May Sell Opel Stake to VEB

  • 28 September 09
  • Reuters
The Sberbank chief said it might sell the stake to the state development bank if it cannot link Opel with a domestic carmaker.

State Plans To Restore Export Tax On Nickel

  • 21 August 09
  • Reuters
Returning to a base rate of 5 percent could bring in $140 million for the state each year for the next three years.

State Plans to Limit Bank Bailout Funds

  • 22 June 09
  • Reuters
The government plans to cut off recapitalization funds to all but its biggest banks, leaving the thousand or so outside the top 60 with no access to state funds under a new bill.

State Plans 900Bln Ruble Bank Capitalization

  • 28 January 09
  • Reuters
Russia plans a 900 billion ruble ($27.4 billion) capital injection for commercial banks hit by the economic crisis, with state-controlled lenders set to receive the largest share, government sources said Tuesday.

State Plans 900Bln Ruble Bank Capitalization

  • 28 January 09
  • Reuters
Russia plans a 900 billion ruble ($27.4 billion) capital injection for commercial banks hit by the economic crisis, with state-controlled lenders set to receive the largest share, government sources said Tuesday.

Ministry Seeks Lock On Fund Spending

  • 15 May 08
  • Reuters
A deputy finance minister says $50 billion must be set aside for five to seven years.

Timber Duty to Rise, Despite EU Qualms

  • 01 April 08
  • Reuters
Russia will introduce a planned increase in timber export duties effective from Tuesday despite strong objections from the European Union and the risk it could hurt its chance of entering the World Trade Organization.

Economy Ministry Urges 12% VAT

  • 18 March 08
  • Reuters
The Economic Development and Trade Ministry has proposed to cut the value-added tax to 12 percent to 13 percent from the current 18 percent from 2009 as a measure to boost growth in nonenergy sectors of the economy.

Storchak Charged, Says He Is Not Guilty

  • 26 November 07
  • Reuters
Prosecutors charged Deputy Finance Minister Sergei Storchak on Friday with attempting to embezzle $43 million, in a case that may damage his boss, Finance Minister Alexei Kudrin.

Storchak Charged, Says He Is Not Guilty

  • 26 November 07
  • Reuters
Prosecutors charged Deputy Finance Minister Sergei Storchak on Friday with attempting to embezzle $43 million, in a case that may damage his boss, Finance Minister Alexei Kudrin.

Oil Sector To Boost Marine Industry

  • 09 November 07
  • Reuters
Russia expects a revival of its ship- and oil platform-building industries as billions of dollars of private and state funds are invested to tap new offshore fields, Industry and Energy Minister Viktor Khristenko said Thursday.

Minimum Price for Sberbank Issue Fixed

  • 18 January 07
  • Reuters
The issue will be the country's largest share offering after Rosneft's $10.6 billion IPO last year.

Fradkov Urges Cash Support for Industry

  • 12 September 06
  • Reuters
He says investment is more important than efficiency as GDP grows by 7.4 percent on a strong service sector.

GDP Growth Jumps to 7.4% but Inflation Worries Remain

  • 18 August 06
  • Reuters
Gross domestic product growth accelerated to 7.4 percent year on year in July, compared with a 6.4 percent rise last July, Economic Development and Trade Minister German Gref said Thursday.

Klepach: Lenders at Risk if Oil Plunges

  • 06 March 06
  • Reuters
Russia's huge current account surplus could disappear by 2009, potentially threatening a liquidity crunch in the banking system if oil prices slump, the Economic Development and Trade Ministry's chief forecaster said on Friday.

CB Tipped to Manage Oil Fund

  • 20 January 06
  • Reuters
The Central Bank could soon take over management of Russia's growing stabilization fund to secure it from possible legal action abroad, according to a new proposal revealed by a senior Finance Ministry official on Thursday.

Rosneft Plans to Raise $20Bln in Share Offer

  • 29 December 05
  • Reuters
State oil major Rosneft wants to raise up to $20 billion when it places up to 30 percent of its shares on Russian bourses and in London next year, the firm said in documents obtained by Reuters on Wednesday.

Ministry to Curb Borrowing by State Companies: Source

  • 17 November 05
  • Reuters
The Finance Ministry launched a push on Wednesday to cap foreign borrowing by big state companies to curb huge inflows of money that are pushing inflation above target.

State Hoping for $4Bln in Svyaz Sale

  • 04 October 05
  • Reuters
The government expects to get $2.5 billion to $4 billion from the privatization of telecoms holding company Svyazinvest, which would be the country's biggest sale to date, Deputy Economic Development and Trade Minister Andrei Sharonov said.

Kudrin to Pay Debt and Hike Spending

  • 29 September 05
  • Reuters
Russia is now so cash-rich that it can afford to plan for big debt payments and big spending increases simultaneously, Finance Minister Alexei Kudrin said on Wednesday.

Ministry Paves Way for Svyazinvest Sale

  • 05 August 05
  • Reuters
The Interior Ministry has agreed to a plan to sell national telecoms holding Svyazinvest, removing the last obstacle to sending a draft privatization decree to the government, a senior minister said Thursday.

Gref: Oil Profits Can't Drive Future Growth

  • 17 June 05
  • Reuters
Russia should run oil-fueled budget surpluses through to 2008, Economic Development and Trade Minister German Gref said Thursday, but he warned that crude earnings were no longer capable of driving economic growth higher.

Ministry Sticking to Its Growth Forecast

  • 27 May 05
  • Reuters
The Economic Development and Trade Ministry on Thursday denied a report that it had cut this year's economic growth forecast to 5.8 percent from 6.5 percent, although analysts had said a downward revision would make sense.

New Fiscal Strategy Brings Nation to '08

  • 08 April 05
  • Reuters
The government on Thursday adopted a new economic strategy paper that analysts said marked a shift to looser purse strings in the run-up to presidential elections in three years' time.

Kudrin Prevails Over Fradkov in VAT Spat

  • 14 March 05
  • Reuters
The government has decided to keep the rate of value-added tax flat at 18 percent despite calls from Prime Minister Mikhail Fradkov to boost growth by cutting it, Finance Minister Alexei Kudrin said Friday.

Novatek to Increase Price for Total Stake

  • 14 March 05
  • Reuters
French oil firm Total's plan to take a $1 billion stake in gas firm Novatek took a double hit on Friday when Novatek said it wanted more money and the Federal Anti-Monopoly Service denied clearing the deal.

Arms Procurement to Rise 26% in '05

  • 31 December 04
  • Reuters
Spending on military weapons will rise by 26 percent next year, Defense Minister Sergei Ivanov said Thursday, with money channeled to high-tech projects to boost industry.

Central Bank Moves to Cut Ruble Buying

  • 29 November 04
  • Reuters
The Central Bank acted Friday to reduce upward pressure on the ruble, trading near four-year highs to the dollar, by cutting the amount of rubles exporters are required to purchase.