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  • MOSCOW, Aug 20- Deputy Transport Minister Oleg Belozerov was named on Thursday to head Russia's vast railway monopoly, a dramatic promotion for the 45- year-old from the president's hometown of St Petersburg. Employing almost one million people and managing over 85,000 km of tracks, Russian Railways is the third largest rail network in the world.

  • In retaliation to Western sanctions over its role in the Ukraine crisis, Russia last year banned certain food imports from the European Union, the U.S. and a few other countries. Eager to demonstrate their zeal in enforcing the ban, local authorities from all over Russia file daily reports on new and increasingly exotic means they employ to destroy the banned...

  • Kazakhstan currency plunges after free-float decision Thursday, 20 Aug 2015 | 6:55 AM ET

    MOSCOW— Kazakhstan currency plunged by over 20 percent against the dollar on Thursday after the government decided to move to a free float to cope with big swings in global currencies and commodity prices. The collapse follows a slump in the price of oil, Kazakhstan's main export, and drops in the value of the currencies of the country's main trading partners,...

  • ALMATY, Aug 20- The tenge lost more than a quarter of its value on Thursday as Kazakhstan fired the latest salvo in an emerging market currency war, ditching a trading band stretched to breaking point by sharp falls in crude and commodities prices. Prime Minister Karim Masimov said floating the tenge would recover ground that oil-dependent Kazakhstan has lost...

  • UPDATE 2-Kazakhstan floats tenge, currency tumbles Thursday, 20 Aug 2015 | 3:15 AM ET

    ALMATY, Aug 20- Kazakhstan's under-pressure tenge lost more than a quarter of its value on Thursday after the oil producing central Asian nation, hit by a sharp fall in world crude prices, introduced a freely floating exchange rate for the currency. Acting against a backdrop of devaluation and depreciation in the currencies of some of its major trading partners...

  • World drowns in oil as producers slug it out Wednesday, 19 Aug 2015 | 4:46 PM ET
    A worker walks at Nahr Bin Umar oil field, Iraq, Nov. 23, 2014.

    Oil prices continue to crater, and the bottom remains elusive because not one of the world's three largest producers shows any sign of blinking.

  • Gazprom Neft, Russia's third-largest oil producer owned by state-run gas producer Gazprom, said that due to abundant supply and technological developments oil prices may have returned for a prolonged period to the $30- $40 per barrel range seen before the commodities boom of the 2000 s. Some oil projects won't be viable at such low prices but most of those won't...

  • MOSCOW, Aug 19- Four private banks with friendly ties with the Kremlin are emerging as big winners from Russia's economic crisis, helping out dollar-starved companies at a time when large state lenders are hampered by Western sanctions. The four, FC Otkritie, Promsvyazbank, Credit Bank of Moscow and B&N Bank, were relatively minor players only a few years ago.

  • Russia hits French chain Auchan with food inspections Wednesday, 19 Aug 2015 | 5:46 AM ET

    The inspections come at a time of tension between France and Russia over the extension of European Union sanctions and France's decision to cancel a deal to provide warships to Russia. Inspections are underway across all of Auchan's stores in Moscow with the support of prosecutors, said Anna Popova, head of the state consumer protection agency...

  • Carlsberg slashes 2015 earnings forecast after Q2 decline Wednesday, 19 Aug 2015 | 4:52 AM ET

    COPENHAGEN, Denmark— Danish brewer Carlsberg has lowered its full-year earnings forecast after declining beer sales in Russia and Ukraine hurt second-quarter profits. Carlsberg, which had previously forecast single-digit growth in operating profit in 2015, said Wednesday it now expects a slight decline, citing "challenging market conditions" in Eastern...

  • Warning signs: Venezuela, Brazil & Russia Tuesday, 18 Aug 2015 | 2:05 PM ET
    Warning signs: Venezuela, Brazil & Russia

    Discussing global growth problems for Venezuela, Brazil and Russia, with Kathryn Rooney Vera, Bulltick Capital Markets, and Tim Seymour, Triogem Asset Management.

  • MOSCOW, Aug 17- Vladimir Yakunin, the powerful head of Russia's state railways and an old friend of President Vladimir Putin, is to leave his post to become a senator, a rare and unexpected reshuffle in the Kremlin's inner circle. The move, revealed while Yakunin was on holiday, appeared to be a significant demotion for a man who has known Putin since they set up a...

  • BERLIN, Aug 18- The United States' securities watchdog is helping German prosecutors to investigate the alleged payment of bribes by Ford to speed the passage of containers through Russian customs, a source at the U.S. carmaker said on Tuesday. Ford and Schenker, the freight business of state-owned German rail company Deutsche Bahn, have been under...

  • Putin in a sub? Russian prez dives in Black Sea Tuesday, 18 Aug 2015 | 11:00 AM ET
    Putin in a sub? Russian prez dives in Black Sea

    Russian president Vladimir Putin plunged into the Black sea along the coast of Sevastopol in Crimea to see the wreckage of a sunken merchant ship.

  • Putin ally Yakunin quits railways for the senate Tuesday, 18 Aug 2015 | 6:50 AM ET
    Vladimir Yakunin (L) and Vladimir Putin at SPIEF

    Vladimir Yakunin, the head of Russian state railways and old friend of President Vladimir Putin, will leave his post to become a senator.

  • The move would be a significant demotion for Yakunin who has headed Russian Railways- a huge state corporation with more than $40 billion in annual sales- for ten years and known Putin since they founded an elite housing cooperative together in St Petersburg in the 1990 s. He will represent Russia's Kaliningrad region- an exclave sandwiched between Poland and...

  • How China's yuan move hurts emerging markets Monday, 17 Aug 2015 | 1:52 PM ET
    A vendor holds Chinese Yuan notes at a market in Beijing.

    China's move to devalue the yuan will impact emerging markets in several ways and investors should beware, says UBS's Jorge Mariscal.

  • *Russia's once-booming car industry hit by economic crisis. After a decade of annual sales growth in excess of 10 percent, the Russian car industry is now a victim of an economic crisis fueled by lower oil prices and Western sanctions over Moscow's role in the Ukraine crisis. Domestic car sales have halved from their peaks in 2012-2013 when during some months the...

  • Aug 14- U.S. authorities are asking counterparts in Europe to seize about $1 billion in assets related to an investigation into three telecom companies and intermediaries close to the daughter of Uzbekistan's president, the Wall Street Journal reported on Friday. Vimpelcom Ltd, Mobile TeleSystems and TeliaSonera AB are under scrutiny from the U.S....

  • BUSINESS-NEWS-SCHEDULE AT 1500 GMT/11:00 a.m. ET Friday, 14 Aug 2015 | 11:35 AM ET

    Editor: Phil Berlowitz +1 646 223 6200. ATHENS- Greek Prime Minister Alexis Tsipras faces the widest rebellion yet from his leftist lawmakers as parliament approves a new bailout program, forcing him to consider a confidence vote that could pave the way for early elections. Electric car maker Tesla Motors Inc says it is looking to raise about $642.5 million...