The Moscow district where new buildings have fallen in price the most has been named
Over three months, from July to September 2024, the average price per square meter in new buildings in the mass segment of the Lefortovo district fell by 19%, to 380 thousand rubles. This is reported by RBC . “This district topped the rating of Old Moscow locations in terms of price reduction for primary economy and comfort class housing […]
World Bank expects China’s economic downturn to deepen
According to the World Bank’s six-month economic forecast, China’s growth rate in 2025 will slow to 4.3%, compared with an expected 4.8% in 2024, Bloomberg writes . “As a result, growth in the East Asia and Pacific region, which includes Indonesia , Australia and South Korea, will slow to 4.4% next year from about 4.8% this year,” the report said. For three decades, […]
The average mortgage loan size in Russia has reached a new maximum
The average mortgage loan size in September reached a record 4.81 million rubles, increasing by 4% compared to August and by 16% compared to the same period in 2023. This was reported by Vedomosti, citing preliminary express monitoring data from the analytical agency Frank RG. The surveyed banks confirmed this trend. At VTB, the average mortgage transaction amount in […]
Pinterest Fined Again in Russia
Moscow’s Tagansky Court has fined photo hosting site Pinterest (Pinterest Europe Limited) 3.5 million rubles for refusing to remove prohibited content, RIA Novosti reports . The hosting was found guilty of committing an administrative offence under the article of the Code of Administrative Offences of Russia “failure of the website owner to remove information if the obligation […]
Business asks to recognize “sanctioned” debts as hopeless
The Russian Union of Industrialists and Entrepreneurs (RSPP) plans to ask the government to amend the Tax Code of the Russian Federation. Forbes writes about this . The business association proposes recognizing debts of foreign counterparties to Russian companies as hopeless if they cannot be collected due to sanctions. “Many leading Russian companies in various industries are […]
Court decides sausage dispute between Cherkizovo and Tsaritsyno factories
The Moscow Region Arbitration Court has approved a settlement agreement between two meat producers, Cherkizovo and Tsaritsyno. Kommersant provides details . In May of this year, Cherkizovo filed a lawsuit against Tsaritsyno because its competitor used the name Gubernskaya for sausage. The plaintiffs tried to recover about 549 million rubles from the defendants. As a result, the […]
Georgia to stabilize lari exchange rate with currency interventions
The National Bank of Georgia conducted currency interventions worth $48.5 million to stabilize the lari exchange rate, Interfax reported , citing the regulator’s press service. According to the National Bank, $60 million was put up for auction on Tuesday, of which $48.5 million was sold at an average rate of 2.7194 lari per dollar. The official exchange rate on […]
Russian exporters cut currency sales by 30%
Sales of foreign currency by Russia’s largest exporters in September fell by 30% compared to August, to $8.3 billion. This was reported in the Financial Market Risk Review published by the Bank of Russia . According to the Central Bank of the Russian Federation, in August the volume of currency sales by exporters amounted to $11.9 billion. The regulator […]
The EU assessed the impact of conflicts in the Middle East on the EU economy
European Commissioner for the Economy Paolo Gentiloni said that geopolitical tensions are affecting the eurozone economy. He said this ahead of a meeting of EU finance ministers in Luxembourg , Reuters reports . “Geopolitical uncertainty, especially around oil prices, is impacting our economy,” Gentiloni said. According to the European Commissioner, this could affect inflation, but so far no such effect has been observed. […]
Ukrainian Prime Minister speaks about extending gas transit agreement with Russia
Ukraine will not extend the transit agreement with Russia after its expiration. This was stated during a joint press conference with the Prime Minister of Slovakia Robert Fico ,” the head of the Ukrainian Cabinet said . Since last summer, European officials and companies have been discussing how to continue transiting Russian gas through Ukraine next year, when the current transit agreement expires. Kiev has […]