Russia Increases Its Gold Holding

Russia continues its gold buying spree when it expanded its gold reserves to 1,015.5 tons, a 12.7 metric ton increase according to the data showed by the International Monetary Fund.

Gold has always been seen as a form of hedge against competing currencies in times of economic depression. Therefore, purchasing gold and keeping it as portion of their resources are efforts done by countries with high purchasing power. As of September 25, gold price amounted to $1,334.02 an ounce at 9 AM, Bullion Vault data showed. Gold prices are foreseen to increase around 7.5% this quarter. 

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Russia Overrides Peru in IMD World Competitiveness Ranking of 2013

IMD, a top-ranked global business school based in Switzerland, today announced its 25th anniversary world competitiveness rankings. In addition to ranking 60 economies for 2013, the IMD World Competitiveness Center also looks at the winners and losers since its creation.

Professor Stephane Garelli, director of the IMD World Competitiveness Center, said: "While the euro zone remains stalled, the robust comeback of the US to the top of the competitiveness rankings, and better news from Japan, have revived the austerity debate. Structural reforms are unavoidable, but growth remains a prerequisite for competitiveness. In addition, the harshness of austerity measures too often antagonizes the population. In the end, countries need to preserve social cohesion to deliver prosperity." 

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When Using Social Media to Pitch, Do Your Homework First

Article originally appeared on PR News

With the continued emergence of new ways to interact socially, the demand for media coverage increases. As a result, balancing PR resources against your objectives while at the same time reaching your business goals can be a challenge. In this Q&A, Colleen Cleary, VP, Havas PR and a featured speaker at the PR News’ Media Relations Conference on Nov. 30 in Washington, D.C., offers tips on how to adequately manage time and resources. 

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Stock Research, For a Select Few

Publication by The Wall Street Journal

A growing group of Wall Street salespeople and brokers has created a shadow stock-research business that caters to big, fast-money traders but isn't available to retail investors.

On July 10, for instance, Peter Vogel sent a note to a group of CLSA/Crèdit Agricole Securities clients, alerting them to "chatter" that orders for parts of Apple iPad were down.

TIM NetworkSome investors took the note, which was reviewed by The Wall Street Journal, to mean that demand for the iPad was weakening. When Apple slid nearly $10 that day, some investors were told Mr. Vogel's note was partly behind the move. Mr. Vogel declined to comment as did CLSA, which has agreed to a merger with Citic Securities Co. 

Mr. Vogel, of CLSA, isn't a high-profile analyst. Rather, he is what is known on Wall Street as a research "specialist", whose job it is to provide big investors an extra slice of up-to-date information beyond the firm's published research on technology companies. 

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Russian Duma Is In Talks About Nationalization Of Megafactories Owned By ‘Oligarchs’ Aiming To Boost New Administration Budget

As the European crisis intensifies, troublesome economical and political situation spreads on other countries. Euro crisis moves toward a decisive moment, the European Central Bank is under renewed pressure to stabilize the troubled currency union. While Russian economy, perceived to be defended by a governmental economical regulations and stately owned corporations, is doing better on the international arena than some of the European countries, some signs of disturbance had already started to appear within the government and especially in the media.

The anxiety is explainable: Russian domestic currency "rouble" had significantly weakened, prices tends to go up and political situation in the country is highly unstable as opposition still very active on protest movements demanding to abolish results of the Duma and Presidential elections. These turbulent time became the fertile soil for radical political proposals, some of which had been already launched to the state Duma. 

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We're Off For Christmas!

Merry Christmas

 

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Russian Elections Meet The Circus

Russian political arena has got excited again as it faced the official start of pre-election race, preceding the upcoming parliamentary elections scheduled for December, 4 of this year. Political activity in the country is higher than usual as parliament elections are interrelated with upcoming presidential elections scheduled for 2012. Main parties to be fighting for the places in Russian Parliament are familiar to the society and already making their first public statements. Representatives of “United Russia”, a Russia’s ruling party led by prime minister Vladimir Putin, has stated that they intend to get not less than 50% of elector’s voices.

Russian political arena is dominated by “United Russia”, while opposition poorly represented by liberal fractions which has also proved their loyalty to the Kremlin. Among those, who still exist in Russia’s political life are KPRF (Сommunist party), LDPR (Liberal-Democratic party, led by an eccentric leader Vladimir Zhirinovsky) and close to the current government “Spravedlivaya Russia” (Rightful Russia, a party led by a former head of Federation Council Sergei Mironov). 

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We would like to wish you a Merry Christmas and Happy New Year!

Merry Christmas

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Central Bank of Russia lowers outlook for balance of payments on stronger import growth

The Central Bank of Russia (CBR) revised its monetary policy outlook for 2011-2013, as it was reported by two Russian major business newspapers — Kommersant and Vedomosti.

The document, which is yet to be approved by the parliament, now envisages the current account weakening to USD 70.5 billion in 2010 (down from the previous USD 73.5 billion), USD 35.7 billion in 2011 (down from the previous USD 46.2 billion) and deteriorating to a deficit of USD 21.3 billion by 2013 (previously a deficit of USD 5.7 billion). These estimates are calculated according to the base scenario of oil prices at USD 76/bbl for 2011.

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