Finance Archives - Page 5 of 22 - RUSSIA'S PIVOT TO ASIA

Russian Agricultural Bank Considering Cryptocurrencies in Grain Trade Settlements

Agriculture, Economy, Exports, Finance, Trade

The Russian Agricultural Bank (RusAg) is considering using cryptocurrencies for settlements in grain trading, the bank has stated. RusAg first deputy CEO Irina Zhachkina said that “We believe that cryptocurrencies could be a convenient alternative instrument, and we are now exploring the possibility of using cryptocurrency instruments for settlements in grain trading with the Bank […]

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Russia To Invest Millions Into The Creation Of New Industrial Parks

Economy, Exports, Finance, Russian Market, Trade

The Russian government will allocate nearly ₽860 million (US$11 million) this year to finance the development of industrial parks and techno parks in numerous regions. Industrial and technological parks were a key component of China’s manufacturing success from the early 2000’s to the present day. They offer investment incentives, such as tax breaks, reduced utility

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Eurasian Economic Union to Sign Free Trade Agreements With Mongolia & UAE End June

Eurasian Economic Union, Exports, Finance, Imports, Trade

Free Trade Agreements between the Eurasian Economic Union (EAEU) and the United Arab Emirates (UAE) and Mongolia will be signed in Minsk in late June, Belarusian Deputy Foreign Minister Pavel Utyupin has said. Belarus currently holds the chairmanship of the EAEU, which also includes Armenia, Kazakhstan, Kyrgyzstan, and Russia. Utyupin was quoted in Belarus Segodnya

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UAE Investors Plan to Purchase More Equity in Belarus’ Largest Bank

Finance, Foreign Investment, Middle East, Trade

Soven 1 Holding (UAE), the majority shareholder of Belarus’s Priorbank, plans to buy out the Belarus State Property Committee equity of 6.31% of the bank’s shares. The decision is of interest as it implies there is significant unrealized value in shares of businesses operating in sanctioned countries and that there are investors prepared to take

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Sberbank To Issue Bonds Tied To Crypto Values

Economy, Finance, Investment, Russian Market, Trade

Russia’s Sberbank is developing structured bonds whose yields will be tied to cryptocurrency price movements, according to Sberbank Executive Board Deputy Chairman Anatoly Popov. He said that “In the near future, we will present investors with a product that provides convenient and secure exposure to cryptocurrency assets – without direct ownership of cryptocurrencies, while fully

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Foreign Business Asset Buy-Back Laws Considered By State Duma

Economy, Finance, Imports, Russian Market, Trade

In June, the Russian State Duma will consider a bill prohibiting the buy-back of shares to foreign companies in the second and third readings. The document has already been approved by the Russian Ministry of Finance. The bill describes in which cases foreigners will be refused the ability to buy back their once-owned assets, with

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BRICS New Development Bank: 2025 Development Updates

BRICS, Finance, Infrastructure, Investment

The current expansion of the BRICS New Development Bank (NDB) is taking place in accordance with the implementation of the NDB strategy for 2022-2026, according to the bank’s head, Dilma Rousseff. In addition to the founding members – Brazil, Russia, India, China and South Africa – several new members have joined, including Bangladesh and the

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Colombia To Join BRICS New Development Bank

BRICS, Economy, Finance, Infrastructure, Investment, Latin America, Trade

Colombia intends to join the BRICS New Development Bank (NDB) in 2025, according to Hector Arenas Neira, Colombia’s Ambassador to Russia. Neira said that the decision on this issue was made after talks with NDB head Dilma Rousseff, saying that “the decision has been made. Our president met with the president of the BRICS bank,

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Afghanistan Negotiating With Russia To Use Own Currencies In Bilateral Trade

Commonwealth of Independent States, Economy, Finance, Infrastructure, Investment, Trade

In encouraging signs that Afghanistan’s trade and investment potential is improving, the Taliban administration is holding advanced negotiations with Russia to allow banks from both countries, both of which are heavily sanctioned in the West, to handle trade worth hundreds of millions of dollars using their own currencies. Afghanistan’s acting commerce minister, Haji Nooruddin Azizi,

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Algeria Becomes A Member Of The BRICS New Development Bank

Africa, BRICS, Economy, Finance, Trade

Algeria has officially become a member of the New Development Bank (NDB), a financial institution created by the BRICS group of countries. The bank’s press office announced this on Thursday, May 22. “Algeria plays an important role not only in the North African economy, but also at the global level and will certainly contribute to

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RUSSIA'S PIVOT TO ASIA

«Поворот России в Азию»

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