Rumours about total refusal of the world from cash are exaggerated. No serious economist considers the question of abandoning cash for good. Nevertheless, there is such a trend in the world. It is not associated with only money-laundering or the funding of international terrorism
By early 2018, Russia and Belarus will develop rules for the joint market of natural gas. The parties reached an agreement during the talks between Presidents Vladimir Putin and Alexander Lukashenko in St. Petersburg. Belarus has accepted Russia's formula with a certain discount from 2018
The gold mine is located in the town of Silin on Jiaodong Peninsula in Shandong province, in the east of China, Chinese news agencies report. According to preliminary estimates, gold deposits are located on the area of two kilometres at the depth of 67 meters. The volume of gold reserves in the area is about 382.58 tons
Putin buys gold not only because of its possible fluctuations, but for another significant reason. The Russian president is afraid that the US dollar can be used as a weapon against Russia. Investing in gold can serve as excellent defense at this point
Representatives for the Russian Finance Ministry announced on March 21 that Russia was going to repay the last debt that the country has inherited from the USSR within the next 45 days. It goes about the debt to Bosnia and Herzegovina for trade turnover settlements between the former USSR and the former SFRY
The US dollar is currently traded at about 59 rubles per one dollar. The basic forecast of the Ministry for Economic Development stipulates the average annual rate of 67.5 rubles. Russia's Minister for Economic Development said that the current rate of the Russian ruble was stronger than fundamental values
Turkish authorities ask Russia to lift all restrictions on supplies of Turkish food products. In particular, it goes about the supplies of Turkish tomatoes to Russia. On March 9, Russia lifted restrictions for imports of Turkish carnations, onions, shallots, cauliflower, broccoli and salt
After the recent decline in oil prices, many oil-producing countries have stopped investing in oil production. This may lead to oil shortages and interruptions in oil supplies in the next three years already. For a long time, the OPEC was aiming maximum volumes of production not to let American shale oil producers enter the market.
Many in Russia paid attention to the social aspect of the tax: for some reason the luxury tax does not embrace either elite real estate, or yachts, or football clubs. Does Russia need a separate law on the luxury tax, which they tried to adopt, but have not adopted yet? Why doesn't the State Duma want to tax elite real estate, for instance?
Largest industrial companies of Donetsk and Luhansk regions introduced external state management on March 1. The move was made without changing the owner, so the word "nationalization" does not fit the atmosphere. Donbas leaders considered such plans in 2016, but did not materialize them
The official ruble rate may slide down following the results of yesterday's meeting between Russian President Putin and Minister for Economic Development Maxim Oreshkin. Putin held the meeting with the minister due to the recent strengthening of the ruble rate. On February 14, 2017, the rate of the Russian ruble hit the highest level since 2015
Consulting agency PricewaterhoiseCoopers (PwC) has published a report entitled "The long view: how will the global economic order change by 2050?" In the report, experts predict the state of affairs in economies of different countries of the world. Emerging economies, including Russia, will dominate the world, the report says