Russian PM Mikhail Mishustin chairs a meeting with his deputies in Moscow on Monday. Agence France-Presse
Economic growth in Russia will be higher than expected in 2019 and is likely to pick up in the next few years thanks partly to higher state spending and looser monetary policy, the World Bank (WB) said.
Russia’s central bank (CB) kept interest rates at a record low on Friday amid increased geopolitical risks but said there was room for lower rates as the COVID-19 pandemic situation was deteriorating.
The Russian central bank lowered its key interest rate to 6.00% on Friday, cutting the cost of lending for the sixth consecutive meeting amid slowing inflation, and said a further rate cut was possible at an upcoming meeting.
Profits in Russia’s banking sector rose to 70 billion roubles ($975 million) in June from just 500 million roubles in May, which included some weeks of lockdown due to the coronavirus pandemic, the central bank said in a report on Friday.
Raja Al Mazrouei, CEO of Etihad Credit Insurance (ECI), the UAE’s Federal export credit company, praised the success of the 13th Ministerial Conference of the World Trade Organisation (WTO), which took place in Abu Dhabi from 26 February to 1 March 2024. Raja Al Mazrouei said:
The UAE said that its production will remain at 2.912 million bpd until the end of June 2024. Afterwards, in order to support market stability, these additional cut volumes will be reversed gradually subject to market conditions.
The third edition of Investopia (Investopia 2024), held over the course of two days, 28 and 29 February in Abu Dhabi, ended on a high note after