Russia finance ministry selling reserves to support ruble

Last Updated: Wednesday, December 17, 2014, 15:08

Russia`s finance ministry is selling its foreign currency to support the ruble, a spokeswoman told AFP on Wednesday.

Russian ruble rebounds slightly after record plunge

Last Updated: Wednesday, December 17, 2014, 13:18

Russia scrambled Wednesday to halt a run on the ruble, selling billions of reserves to prop up the currency in the worst economic crisis of President Vladimir Putin`s 15 years in power.

Rouble hits new lows as Russian rate hike fails to support

Last Updated: Tuesday, December 16, 2014, 16:04

A sharp overnight rate hike failed to ease pressure on the rouble on Tuesday, as the market continued to test the central bank`s resolve to defend the currency and piled more pressure on Russia`s faltering economy.

Russia hikes key rate to 17% after record ruble tumble

Last Updated: Tuesday, December 16, 2014, 09:49

The Russian central bank early Tuesday announced a dramatic hike of its key interest rate from 10.5 to 17 percent after the ruble plunged to a fresh record low.

Russian mining firm keen on partnership in bauxite sector

Last Updated: Saturday, December 13, 2014, 23:42

Russian metal and mining major Basic Eelement has evinced interest in forging partnership for developing bauxite-related sector in India.

Russian, Indian funds ink pact to invest $1 bn in infra

Last Updated: Thursday, December 11, 2014, 23:12

Infrastructure investor IDFC has inked a pact with Russian Direct Investment Fund to invest up to USD 1 billion in infrastructure projects here.

Tata Power, RDIF to explore investment opportunities in Russia

Last Updated: Thursday, December 11, 2014, 20:17

"RDIF and Tata Power will co-operate on identifying and targeting investment opportunities in the energy sector across Russia in order to develop mutually beneficial transactions," Tata Power said in a statement. The pact has been inked during the visit of Russian President Vladimir Putin.

NMDC, others to buy 30% stake in Russian potash mine

Last Updated: Thursday, December 11, 2014, 20:10

An NMDC-led consortium of four state-run companies and one cooperative Thursday signed an agreement to buy 30 percent stake in Russian fertiliser producer ACRON's USD 2-billion potash mine project.

Russia`s central bank hikes rate as ruble plummets

Last Updated: Thursday, December 11, 2014, 19:16

The rate hike from 9.5 percent to 10.5 percent was the second since late October, and the bank said further raises will follow "in case of further aggravation of inflation risks."

Essar Group signs $10 bn pact to import oil from Russia's Rosneft

Last Updated: Thursday, December 11, 2014, 17:13

In one of the biggest oil deals, Essar Group Thursday signed a USD 10 billion contract to import crude oil from Russia over a 10-year period.

Russian bank VTB to lend $1 bn credit to Essar Group

Last Updated: Thursday, December 11, 2014, 15:46

The agreement to this effect was signed by Essar co- founder Shashi Ruia and VTB Chairman Andrey Kostin in presence of Prime Minister Narendra Modi and Russian President Vladmir Putin Thursday.