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The Regions This Week
May 11, 2018 www.intellinews.com I Page 7
Eastern Europe
A total of 82% of Russians approve of President Vladimir Putin’s achievements, according to a poll conducted by the Russian Public Opinion Research Center. Putin was sworn in as president for the fourth time on May 7, after winning the presidential elections with 77% of the vote in March.
Nine out of ten Russians (89%) want reform,
according to a poll conducted by the state owned pollster, the Russian Public Opinion Research Centre (VTsIOM) on May 7. In particular more than half (59%) back changes in most public spheres.
Putin has instructed the government to increase the workforce engaged in small and medium- sized businesses in Russia to 25mn by 2024. The president also ordered to bring the share of small and medium-sized enterprises to at least 10% in the total amount of exports.
Russia's lower house of parliament confirmed Dmitry Medvedev as prime minister on Tuesday, voting 374 against 56 in favour of him remaining in the job he has held since 2012. He was nominated by President Vladimir Putin, who was sworn in for a new six-year term in the Kremlin on May 7.
After dipping to an eight-month low in March, Russia’s IHS Markit services PMI index put in
a strong rise in business activity across the Russian service sector in April, Markit reported on May 7. The Russia Services Business Activity Index posted 55.5 in April, up from 53.7 in March, indicating a strong output upturn and well ahead of the 50 no-change mark. The services sector extended the current sequence of expansion that began in February 2016, showing growth in the reporting quarter that was faster than the long- run series average.
The EBRD has cut Russia’s 2018 growth forecast to 1.5%, the same level as 2017, and down from
a previous 1.7% forecast. The development bank also predicted 1.5% growth for 2019 as well.
Belarus' gold, forex reserves exceed $7bn.
Belarus' gold and foreign exchange reserves exceeded $7bn as of 1 May 2018, the National Bank of the Republic of Belarus (NBRB) reports.
Russian businessman Boris Mints’s O1 Group real estate developer went into technical default on RUB14bn ($222mn) worth of bonds maturing in April 2027 after it skipped a coupon payment of RUB358mn, the company said on May 3. The bonds traded at 2.55% of nominal value as of May 4 on Moscow Exchange.
The Central Bank of Russia reported its first loss since 1997 of RUB435bn ($7bn) in 2017. The loss was attributed to costs of last year’s the banking sector clean-up, which brought down some of the largest private banks in the country.
Russia's state-controlled natural gas
giant Gazprom plans to maintain record-high exports in 2018 and plans to beat the export volume seen last year, Vedomosti daily said citing the CEO of the company Alexander Medvedev.
In January-April Gazprom has already shipped 70.3bcm (+6.3% or +4.1bcm year-on-year).
Troubled Chinese private firm China Energy Company (CEFC) is out of the deal to acquire 14.16% stake in Russia's largest oil company Rosneft, oil trader Glencore said on May 4. CEFC was rocked by investigations at home and missed the April 1 deadline to pay a €1.5bn instalment.
Russia's internet services major Mail.ru posted 28% year-on-year growth in revenues in the first quarter to RUB16.5bn ($262mn), but saw Ebitda decline by 20% to RUB3.99bn missing consensus expectations by 21% and pushing net profit down 32% y/y to RUB2.4bn.
Russia's largest state-controlled bank Sberbank announced closing the deal with internet major Yandex and setting up the Yandex.Market joint venture.