Russian central bank approves framework for fintech development
The overall aim is to drive ‘digitisation’ and build competitiveness within the country’s financial sector...
Tag : Russia
The Central Bank of Russia drops key rate to 7.5%
Last year’s high-low fluctuation has led to a quarter-point rate cut...
US energy import will exceed its export capacity until 2026, says EIA
However, its record volumes of oil production will potentially outdo Saudi Arabia and Russia in crude sector...
Russia bails out Otkritie bank, one of its largest private lenders
Otkritie Bank ranks 1st among privately owned banks and 4th by assets among banking groups in Russia....
Russia, Ukraine hit by cyber attack
Hackers attacked hard drives of computers running Microsoft Windows and announced that data had been encrypted before demanding ransom to restore access...
Charges against two Russia security officials in Yahoo hacking case
Two others named; one of them is on FBI’s most wanted hackers list March 16, 2017: The US Justice Department has announced charges against four people, including two Russian security officials, over hacks that affected millions of Yahoo users. Two of the defendants — Dmitry Dokuchaev and his superior Igor Sushchin — are officers of...
Deutsche Bank fined for laundering $10 billion for Russians
The German bank has been hit with a $629 million penalty in the US and UK IFM Correspondent February 1, 2017: Germany’s Deutsche Bank has been hit with a $629 million penalty in the US and UK over a $10 billion money laundering scheme that involved its branches in Moscow, New York and London. The...
Oil price down cycle ‘nearing end’: Saudi minister
“Market fundamentals, in terms of supply and demand, have begun to improve” IFM Correspondent October 26, 2016: Speaking at the World Energy Congress in Istanbul, Turkey, Saudi Arabia’s Energy Minister Khalid al-Falih said that as market fundamentals improve, the current down cycle of crude prices is close to an end. Oil prices are currently hovering...
Access to credit for ‘unscoreable’ consumers and entrepreneurs
New agreement between FICO and EFL can help millions of consumers in emerging markets October 26, 2016: As part of its FICO Financial Inclusion Initiative, analytic software firm FICO has announced a strategic partnership with EFL Global to expand credit scoring options for lenders and consumers in markets outside the US. FICO will offer EFL’s...
Iraq refuses to cut oil production
Says the country needs funds as it is embroiled in a war with Islamic militants IFM Correspondent October 24, 2016: It is back to square one. When things were finally looking up for the oil market with Iran agreeing to stabilise the market, Iraq played a spoilsport by refusing to join any deal from OPEC...