Inglourious end of litigation with Tinkoff Bank
A high-profile litigation between a simple client of a bank from Voronezh Dmitry Agarkov and Tinkoff Credit Systems (TCS) ended in a ceasefire. Dmitry Agarkov, who talentedly “unwound” the bank…

Continue reading →

LIBOR: time to change bets
The key LIBOR rate for credit markets is going to be modernized. City of London, New York Wall Street and regulators on both sides of the Atlantic are seeking a…

Continue reading →

Megafon has collected suitcases on the stock exchange
Megafon has collected suitcases on the stock exchange MegaFon, one of the largest mobile operators in Russia, is getting ready for an IPO on November 1. The company plans to…

Continue reading →

artistic techniques

Is Romney’s son betraying his father for an investment?

The son of US presidential candidate Mitt Romney visited Moscow this week, writes The New York Times. One of the candidate’s five sons, Matthew Romney, allegedly was looking for Russian investors for his Excel Trust company, which owns shopping centers in the United States, and convinced that President Romney was not as tough on Russia as he said.

American media continues to entertain the world with the staging of “US presidential election.” According to The New York Times, in Moscow, the son of a presidential candidate probed the situation in the Russian capital and assured “people close to Putin who can retell their conversation to the president,” that his father, despite tough rhetoric in his election campaign, wants a good relationship with By Russia.

The publication reports that Matthew Romney is looking for investors in Russia for his trust, which allocates 90% of taxable income to dividends.

“There are great opportunities around the world: people are looking for where to invest their money,” says Greg Davis, vice president of Excel Trust. “Now all trips are of an overview nature, we are looking to see if the market exists, is it configured to invest in Excel.” Continue reading

Three reasons for the outflow of capital abroad

Over the past month, investment funds focused on Russia withdrew about $ 150 million from the country. It is noted that the outflow for the last week of October amounted to $ 63 million. This is almost twice the figure of the previous week, when $ 32 million was withdrawn by investment funds.

Experts also predict a further continuation of the outflow of capital for at least the next two years. The transaction between Rosneft and TNK-BP, contrary to expectations, could not prevent the withdrawal of funds from the Russian Federation. Recall that on October 22, Rosneft announced the takeover of TNK-BP, which makes it the largest oil company in the world.

According to Vedomosti with reference to the EPFR, there are many reasons for this situation. However, among them three main ones can be distinguished. The first such reason is the high dependence of the Russian economy on fluctuations in oil prices, which greatly increases the risks of investors. The connection of capital outflows with unfavorable trends in the oil and gas sector seems natural. But a number of experts rightly point out the fact that no lasting correlation between the increase in the cost of oil and capital inflows has been observed in recent years. Continue reading

Banks are ready to work online

On Tuesday, the Association of Russian Banks presented its updated Internet portal, which significantly expanded the capabilities of customers in the field of interaction with domestic credit organizations. Now users, in particular, will be able to seek help from the financial ombudsman online and receive extracts from their credit histories.

According to the concept voiced by ARB representatives at the last press conference, the association is important not so much economic as the social orientation of banks. Therefore, the ARB has taken a number of actions aimed at ensuring that citizens can more efficiently build their work with credit organizations. So, for example, the financial ombudsman has his own online office.

This institution arose in the Russian Federation under the auspices of the ARB on October 1, 2010. The financial ombudsman is the sole body for out-of-court settlement of disputes arising between banks and their customers. Continue reading

The country's infrastructure is thirsty for investment
As part of the third day of Mosinterfin-2012, work began with a plenary strategic session "Attracting Investments in Infrastructure Projects in Russia: Actual Problems, Models of Solution". At the same…

...

Qiwi intends to hold SPO
Qiwi PLC payment system intends to place the second part of depositary shares on the exchange. Experts and traders were waiting for this step, so the news on the market…

...

Time Travel: Chilean Blooper
Living conditions in Latin America are hardly comfortable. The economies of most countries in the region suffer from inflation, which for decades has remained at a high level. But there…

...

Forex Club: optimism leaves the markets
The US dollar has been trading in different directions over the past week due to the lack of significant macroeconomic events and statistical reports. The euro felt more confident in…

...