February 03, 2015 10:32
- Gazprom to remain Europe’s key gas supplier
- Russia’s Gazprom says it will increase gas exports to Europe by 5 to 8 percent to 160 billion cubic meters in the next three years, and thus remain the largest gas supplier in Europe.
- S&P faces new $125mn fine – report
- The Standard and Poor’s rating agency has reached a $125 million agreement with the biggest pension fund in the US to settle damages for “over-rating” mortgage securities as sound investments just ahead of the housing market collapse in 2008.
- BP considering investing more in Russia – CEO
- Oil giant BP is going to continue its 25-year cooperation with Russia, and is considering additional investment despite sanctions and low oil prices, said the company’s CEO Bob Dudley.
- Domestic MasterCard: 5 Russian banks begin new National Payment System
- Russia’s new National Payment System is up and running. The first five Russian banks processed their initial payments via MasterCard on January 30, according to Russia’s Central Bank.
- Greek stocks rise after new cabinet offers ‘smart debt engineering’
- Stocks in Greece rose sharply in early trading Tuesday after the new government of Greece revealed a plan of swapping its €315 billion foreign debt for growth-linked bonds to put an end to a standoff with its creditors.
- Russian PM bans machinery imports for municipal and state needs
- As part of Russia’s anti-crisis plan for import substitution, the country is to stop importing foreign-made machinery to be used by the state and municipalities.
- Russian oil and gas companies will withstand low oil prices – Fitch
- Low oil prices should not directly affect the ratings of Russian oil and gas companies, as they have sustainable loan burdens and stable revenues, Fitch rating agency has said.
- Greece not negotiating financial aid from Russia ‘right now’ – PM
- Athens is not discussing the possibility of a loan from Russia, said Greek Prime Minister Alexis Tsipras, adding that Athens and Cyprus can become a ‘bridge of peace and cooperation between Europe and Russia.’
Apple not ditching Russian market – retailers
- America’s Apple is not halting deliveries to Russia, according to several representatives of retailers and operators with direct knowledge of the matter. Russian media had reported the company was stopping sales in the country.
Ruble slump won’t damage trade with China – ambassador
- China’s ambassador to Moscow Li Hui says even though the ruble has lost more than 17 percent of its value this year it won’t significantly affect China-Russia trade and cooperation.
Oil drops 3% as US oil refinery strike adds to supply glut
- Crude oil futures plunged 3 percent after a US refinery workers strike paralyzed 10 percent of the petroleum market. It is the largest refinery strike since 1980 and could potentially affect 60 percent of the US market if more unions join the walk out.