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  • Russia offers support to North Korea amid Sony hack Thursday, 25 Dec 2014 | 10:39 AM ET

    MOSCOW— Russia on Thursday offered sympathy to North Korea amid the Sony hacking scandal, saying the movie that sparked the dispute was so scandalous that Pyongyang's anger was "quite understandable." Washington failed to offer any proof to back its claims of Pyongyang's involvement in the hacking, Russian Foreign Ministry spokesman Alexander Lukashevich...

  • KIEV, Dec 25- Ukraine's parliament gave preliminary approval on Thursday to a law that would simplify tax legislation and impose additional duties on imports, in an effort to raise revenue amid economic crisis. Ukraine's foreign currency reserves have more than halved since the start of the year to a 10- year low, due to gas debt repayments to Russia and efforts...

  • Russia's Putin scraps New Year's holidays for ministers Thursday, 25 Dec 2014 | 7:24 AM ET

    MOSCOW— Russian President Vladimir Putin on Thursday scrapped New Year's holidays for government ministers because of the unfolding economic crisis. Russian company employees throughout the country are entitled to holiday from Jan. 1 to Jan. 12 when Russians celebrate the New Year, the main holiday in Russia, as well as Orthodox Christmas on Jan. 7.

  • Snowstorm in Moscow delays over 150 flights Thursday, 25 Dec 2014 | 5:05 AM ET

    MOSCOW— A massive snowstorm in Moscow on Thursday caused delays to more than 150 flights and brought traffic to a standstill. The snowstorm began early Thursday morning and the Russian Meteorological Office said it expects up to 4 inches of snow to fall in Moscow in a single day. The Yandex traffic monitoring service said the congestion in Moscow reached the...

  • DIARY -Emerging Markets Economic Events to Jan 8 Wednesday, 24 Dec 2014 | 7:02 PM ET

    JERUSALEM- Bank of Israel announces interest rate decision- 1400 GMT. PRAGUE- Czech National Bank to release the minutes of December policy meeting- 0800 GMT. PUNE, India- Indian Prime Minister Narendra Modi and Finance Minister Arun Jaitley will meet chiefs of the nation's banks.

  • MOSCOW, Dec 24- Russian gas giant Gazprom, hurt by Western sanctions over the Ukraine crisis and a long-running dispute with Kiev over prices, expects to produce the lowest amount of gas in its history this year. More recently Gazprom has also ended the South Stream gas pipeline project aimed at avoiding Ukraine to bring in 63 bcm of Russian gas to Europe via the...

  • *Rouble dips after S&P threatens Russia with junk status. *Brent oil drops back to $60 a barrel. Most Asian markets had edged up overnight and Europe was looking to close the Christmas week up 1 percent despite a subdued day on Wednesday.

  • ALMATY, Dec 24- Kazakhstan's government promised on Wednesday to prevent sharp volatility in the tenge currency in 2015, it said in a statement. The oil-rich Central Asian nation devalued the tenge by 19 percent in February to ease pressure on its economy. Kazakhstan's competitiveness has been hurt by a sharp slide in the Russian rouble.

  • UPDATE 2-Russia's grain exports stop - farm lobby Wednesday, 24 Dec 2014 | 7:59 AM ET

    *About 3 mln T of grain are now stuck in Russia- Union. *Wheat futures rise on Russia export curbs. Russia's main wheat buyers are Turkey, Iran and, very vulnerable to supply disruption, Egypt.

  • Russia in offer to help firms with foreign debts Wednesday, 24 Dec 2014 | 5:04 AM ET

    MOSCOW— With inflation showing clear signs of picking up, Russia's central bank said Wednesday it will look to help companies with their foreign debts— a move it hopes will ease the pressure on the national currency. Following on from other measures to stabilize the ruble, such as a big increase in its key interest rate to 17 percent, the Central Bank said it will...

  • *Rouble dips after S&P puts Russia on junk downgrade warning. LONDON, Dec 24- The strongest growth for the world's largest economy in over a decade meant there was plenty of pre-Christmas cheer in global markets on Wednesday, as stocks continued their strong run and the dollar hovered at an 8-1/ 2 year high. The data drove both the Dow Jones and the S&P 500 benchmark...

  • UPDATE 1-Russia may fail to supply wheat to Egypt in Jan Wednesday, 24 Dec 2014 | 4:49 AM ET

    MOSCOW, Dec 24- Russia may fail to supply wheat to Egypt's state buyer GASC in January as its exports have been effectively suspended by informal government curbs, Arkady Zlochevsky, the head of Russia's Grain Union, said on Wednesday. Russia's government imposed informal curbs with tougher quality monitoring and limits on railroad loadings earlier this...

  • Ukraine: Is it time to buy? Wednesday, 24 Dec 2014 | 4:42 AM ET

    Ukraine's bonds have had a terrible year as the country's conflict with Russia wears on, but could be a canny buy in 2015?

  • Russian opposition faces Internet censorship Tuesday, 23 Dec 2014 | 1:44 PM ET

    MOSCOW— Supporters of Russia's most prominent opposition leader on Tuesday revived their campaign to stage a protest near the Kremlin, despite government attempts to hamper their efforts by Internet censorship. Last week, prosecutors asked a court to sentence Alexei Navalny, President Vladimir Putin's chief foe, to 10 years in prison for allegedly...

  • Russia, 4-ex-Soviet nations finalize new alliance Tuesday, 23 Dec 2014 | 9:48 AM ET

    The Eurasian Economic Union, which includes Russia, Belarus, Kazakhstan, Armenia and Kyrgyzstan, comes to existence on Jan. 1. Russia then annexed Ukraine's Black Sea Crimean Peninsula, and a pro- Russia mutiny has engulfed eastern Ukraine. Belarus, sandwiched between Russia and European Union members Poland and Lithuania, has profited handsomely from Moscow's...

  • KIEV, Dec 23- Ukraine's Finance Minister forecast the economy will shrink by 4.3 percent next year and warned of the huge challenge of getting state finances in order, as she presented a draft budget to parliament on Tuesday. "A difficult year awaits us," Yaresko told deputies, who are under pressure to approve a budget as soon as possible in order to get the next...

  • *Rouble at its highest level against dollar since Dec. 8. MOSCOW, Dec 23- The Russian rouble hit its highest levels in two weeks on Tuesday, shored up by informal capital control measures designed to head off a repeat of the galloping inflation and mass protests that marked Russia's 1998 financial crisis. Shortly after the market opening, the rouble hit 52.88 to the...

  • As recession looms, Russia acts to support ruble Tuesday, 23 Dec 2014 | 7:37 AM ET

    MOSCOW— With its economy spiraling toward recession following Western sanctions and a dramatic fall in the price of oil, Russia took another step Tuesday to shore up the value of the ruble, which has been one of the world's worst-performing currencies this year. Russia's energy-dependent economy has suffered a severe economic shock over the past few months,...

  • WASHINGTON, Dec 22- Russia is starting to backslide on its commitments to become a fully-fledged member of the global economy and trading community, the United States' trade office said on Monday. Relations between the United States and Russia are at their lowest since the Cold War because of Russia's annexation of Crimea from Ukraine last March and its support...

  • LONDON, Dec 22- Russia has complained that a U.S. move to scrap a 15- year-old deal sheltering Russian flat-rolled steel producers from high import duties is inconsistent with World Trade Organization rules. As a result, Russian steelmaker Severstal now faces anti-dumping duties of 73.59 percent, while other producers like Novolipetsk Steel and...