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. Last Updated: 07/27/2016

10/02/2008

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Putin's Pension Talk Scares Businesses

The social security taxes paid by businesses will rise by as much as 8 percent at the beginning of 2010 in an effort to strengthen the country's pension system, Prime Minister Vladimir Putin announced Wednesday. The measure, which generated a negative review from business groups, drew more positive reviews from market watchers.

Merkel, Medvedev To Focus On Crisis

President Dmitry Medvedev and German Chancellor Angela Merkel are likely to focus on economics in St. Petersburg on Thursday as they meet for the fourth time this year.

Chichvarkin Says Liquidity Woes Forced Sale

Acknowledging he had chosen a risky strategy, Yevroset's former owner said the credit crunch left him with no choice.

Putin Blames U.S. For Financial Woes

Combined Reports
Prime Minister Vladimir Putin said Wednesday that U.S. ""irresponsibility"" led to the global financial crisis and discredited its claims to world leadership, as his finance minister moved to link domestic woes to the broader downturn.

Bailout Package Seen Not Saving All Banks

Despite the bank bailout package swiftly introduced by the government, many Russian banks will face liquidity pressures and falling profitability as access to credit stays limited and rising rates lead to fewer loans and more defaults, banking analysts said Wednesday.

Lack of Staff to Fight Money Launderers

The government's money-laundering watchdog must fill a gaping hole in its ranks, U.S. and European experts said in a report released Wednesday, suggesting that the service's oversight might not be tight enough.

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