Articles by Alex Nicholson

Manufacturing Renews Contraction

  • 03 November 09
  • Bloomberg
Manufacturing contracted in October as companies cut jobs and failed to build up inventories, casting doubt on the strength of the recovery, VTB Capitals Purchasing Managers Index showed Monday.

Rate Cuts Meant to Slow Inflow

  • 02 November 09
  • Bloomberg
The bank on Thursday cut the refinancing rate half a point to a record low of 9.5 percent, partly aimed at reducing the difference between short-term interest rates on the internal and external markets.

Strange Collateral Burdens Banks

  • 29 October 09
  • Bloomberg
Russian lenders are seeking to recoup losses by accepting a range of collateral, including stakes in a lingerie retailer and over 40,000 pigs.

Central Bank Signals More Cuts

  • 22 October 09
  • Bloomberg
Policy makers, who on Sept. 29 cut the refinancing rate to 10 percent, are trying to combat restrictive lending conditions that threaten to slow economic recovery.

Industrial Producers Fall Back Into Slump

  • 16 September 09
  • Bloomberg
The economy contracted a record 10.9 percent last quarter after demand for raw materials and heavy industrial goods, including steel, slumped.

Foreign Investment Declines 45% in H1

  • 24 August 09
  • Bloomberg
Foreign direct investment plummeted an annual 45 percent, the most on record, to $6.1 billion in the first six months of the year as the economy contracted at a record pace, the State Statistics Service said Friday.

Ruble Takes Biggest Hit Since Early July

  • 18 August 09
  • Bloomberg
The ruble slides by 2 percent as the MICEX Index sees its largest intraday drop since July 9.

GDP Falls 10.9% in Surprise Drop

  • 12 August 09
  • Bloomberg
The figures push the ruble down 1.4 percent to its lowest level in a month.

Central Bank Faces Calls To Reduce Interest Rates

  • 24 July 09
  • Bloomberg
The Central Bank should cut its benchmark rates by as much as 5 percentage points to spur lending to floundering industries, banking executives said.

Putin Sees Russian Recovery Toward End of '09

  • 28 January 09
  • Bloomberg
Prime Minister Vladimir Putin said he sees ""light at the end of the tunnel"" for the Russian economy by the middle of the year, and he called for global rules to avert a repeat of the current crisis.

Putin Sees Russian Recovery Toward End of '09

  • 28 January 09
  • Bloomberg
Prime Minister Vladimir Putin said he sees ""light at the end of the tunnel"" for the Russian economy by the middle of the year, and he called for global rules to avert a repeat of the current crisis.

Budget Figures Hint At Looming Deficit

  • 21 January 09
  • Bloomberg
Russia's budget surplus narrowed in December after an end-of-year spending increase, evidence that the government is heading for its first deficit in a decade this year.

Troika Hopes to Break Even Next Year

  • 01 November 08
  • Bloomberg
Troika Dialog expects to make almost no profit next year as the global financial crisis deepens, managing director Andrei Sharonov said Friday.

Industrial Output Misses Expectations

  • 17 September 08
  • Bloomberg
Industrial production expanded at a slower pace than economists forecast in August as tighter access to credit and a slumping stock market hurt companies expansion plans, the State Statistics Service said Tuesday.

Weak Interest Shown in Auction for Funds

  • 18 April 08
  • Bloomberg
The country's biggest banks borrowed less than analysts expected in a special auction held by the Finance Ministry on Thursday to inject money into the banking system.

PwC Loses 2nd Appeal on Tax Claim

  • 15 April 08
  • Bloomberg
The Moscow District Arbitration Court rejected a second appeal by PricewaterhouseCoopers's Russian unit against a 380 million ruble ($16 million) back tax claim, a spokeswoman for the auditor said.

Smugglers Lend iPhone Sales a Hand

  • 09 April 08
  • Bloomberg
Apple has gained unlikely allies in its bid to boost iPhone sales: Russian smugglers.

WTO Entry Delayed by Timber Spat

  • 18 February 08
  • Bloomberg
The European Union and Russia failed to agree on timber duties, the main hurdle to membership in the World Trade Organization, EU Trade Commissioner Peter Mandelson said Friday.

Clawing Metals in Siberia's Frozen Land

  • 17 August 07
  • The Associated Press
NORILSK, Krasnoyarsk Region -- Norilsk Nickel's company anthem praises its smelters as ""the light in Russia's window,"" but even in summer the Arctic city sits wreathed in a gray cloud of pollution.

Gorbachev Blames U.S. for Tensions

  • 30 July 07
  • The Associated Press
Former Soviet leader Mikhail Gorbachev on Friday laid the blame for the current low in Russia's relations with the West squarely at Washington's door, accusing the United States of making ""major strategic mistakes"" that threw the world into a period of ""global disarray.""

12 Leaders Discuss Reforming the CIS

  • 13 June 07
  • The Associated Press
The heads of 12 former Soviet republics met over the weekend to discuss ways of reforming their loose regional alliance, but the informal summit only underscored uncertainty over the grouping's future.

School Director Fined Over Microsoft Piracy

  • 08 May 07
  • The Associated Press
A Perm region court Monday found a school principal guilty of using pirated Microsoft software and fined him 5,000 rubles ($195) after a retrial that has been cast by some media as a battle between a humble educator and a mighty international corporation.

Bering Tunnel Project Begins to Take Shape

  • 26 April 07
  • The Associated Press
For more than a century, entrepreneurs and engineers have dreamed of building a tunnel connecting the Eastern and Western hemispheres under the Bering Strait -- only to be brought up short by war, revolution and politics.

Gref Does His Bit for Anti-Piracy Crackdown

  • 18 April 07
  • The Associated Press
Economic Development and Trade Minister German Gref told an anti-piracy conference Tuesday that it would take time to crack down on the country's bootleg music market.

Fruit Juice Commercials Poke Fun at Prokhorov

  • 02 April 07
  • The Associated Press
He is one of the country's wealthiest men and he gained notoriety over the New Year's holiday when French police detained him briefly as part of a probe into a high-class prostitution ring.

Sberbank Share Offer Reaps $8.8Bln

  • 22 February 07
  • The Associated Press
Finance Minister Alexei Kudrin says the Sberbank board has set a price of $3,398 per share.

Medvedev Lashes Out at EU Energy Reform

  • 04 December 06
  • The Associated Press
Gazprom deputy CEO Alexander Medvedev said Friday that a pending European anti-monopoly plan to split up energy conglomerates smacked of ""communism.""

Putin Strikes Energy Deals With Vietnam

  • 21 November 06
  • The Associated Press
Gazprom will build gas infrastructure while Russia will also help Vietnam build its first atomic power plant.

Yanukovych Says Gas Price to Be Settled in October

  • 25 September 06
  • The Associated Press
Ukraine will ensure the smooth transit of gas to Europe this winter, the nation's prime minister said Friday after talks with President Vladimir Putin.

End in Sight for Tax on Foreign Aircraft

  • 04 September 06
  • The Associated Press
The Transportation Ministry will propose cutting or scrapping import duties on foreign aircraft, a spokeswoman said Friday, a day after the prime minister called for overhauling flight safety standards for the country's aging civilian air fleet and airports.