Economy of Russia

Apple Halts Online Sales in Russia Over Ruble Instability

The technological giant Apple has temporarily suspended online sales in Russia, because of the instability of the ruble, reports Bloomberg.

"Our online store in Russia is currently unavailable while we review pricing," Alan Hely, spokesperson of Apple told Bloomberg in an e-mail on Tuesday. "We apologise to customers for any inconvenience."

Russian central bank says ruble slide 'critical', to take further measures

The rapid slide of the ruble is a "critical situation" and the Russian central bank will take additional measures soon, the bank's first deputy chairman Sergei Shvetsov said Dec. 16.
"The situation is critical. We could not imagine this in our worst nightmare a year ago," he was quoted by Interfax as saying.        

Russia Hikes Key Rate to 17% to Halt Rouble’s Slide

Russia's central bank announced on Tuesday it increased its key lending rate to 17% with immediate effect to avert a currency crisis.

The rouble on Monday posted its biggest one-day drop versus the US dollar and the euro since 1999. The Russian currency traded 5.22 roubles lower to the dollar at 63.4 and 6.53 rubles lower to the euro at 78.81.

Bako admits to another shooting that killed man in Athens

Arber Bako, the man who opened fire on a bar in Mikrolimano last month, injuring more than 10 people, admitted on Tuesday to taking part in another attack that led to one man being killed, sources said.

Bako appeared before a prosecutor to give his deposition after being arrested last week.

Turkey, Russia building new investment platform for joint projects across Russia’s regions

The Russian Direct Investment Fund (RDIF) and Renaissance Holding of Turkey have agreed to jointly invest in projects across Russia’s regions.

The two parties will invest in the healthcare and infrastructure sectors, using public private partnership (PPP) models, while also undertaking the construction of new shopping centers in the regions.

General consolidated budget revenues and expenses go up 1.32 billion lei, in thrid revision of 2014

The revenues and expenses of the general consolidated budget go up some 1.32 billion lei in the balance and the general consolidated budget deficit will be kept as nominal value at 14.713 billion and as share in the gross domestic product (GDP), at 2.2 per cent, according to the emergency ordinance draft setting the legal framework for the third budget revision for 2014.