Russia 01 (May 08 - Jul 10)

Re: Russia

Postby kennynah » Sun Nov 29, 2009 11:10 am

yeah..i saw this news on BBC yesterday... but at that time, there was no mentioning of any terrorist attack...
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Re: Russia

Postby winston » Thu Dec 03, 2009 11:52 am

Long Russian Equities (RDXUSD) at 1,645.9, Target 2,050.

Our global macro outlook is still constructive for equities, particularly in parts of EM. We see a significant acceleration in Russian real GDP growth from -9.5% in 2009 to +4.5% in 2010.

The Russian index has significant commodity exposure, which we like given our still constructive view on energy. Moreover, we expect continued monetary easing with at least 100bp of further cuts in interest rates this coming year (the forwards discount hikes). Russian equities have lagged other EM and we expect risk premia to compress, alongside 60% earnings growth.

Source: GS
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Re: Russia

Postby LenaHuat » Fri Dec 04, 2009 4:07 pm

IMHO, Putin's admirable blast on the noveau riche:
RUSSIAN NOUVEAUX RICHES "A PROBLEM"

Asked why nobody was in jail for allowing the crisis to hit Pikalyovo, the prime minister shot back: "If we put everyone in jail, who would work?"

Putin had harsh words for Russia's new rich, saying the way they flaunted their wealth was wrong, and implicitly condemning a group of young Russians whose Lamborghini and Bugatti luxury sports cars crashed recently in Switzerland.

"The nouveau riche all of a sudden got rich very quickly but cannot manage their wealth without showing it off all the time. Yes, this is our problem," Putin said.

"In Soviet times some of our rich showed off their wealth by having gold teeth put in, preferably at the front. The Lamborghinis and other pricey knickknacks -- they are simply today's gold teeth which are shown off to everybody."
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Re: Russia 1 (May08 - Dec 09)

Postby winston » Fri Dec 11, 2009 10:24 pm

Russia Q3 GDP Declines

(RTTNews) - Friday, the Russian Federal State Statistics Service announced that the gross domestic product or GDP at constant prices decreased 8.9% year-on-year in the third quarter, compared to the 10.9% fall in the previous quarter. A year ago, the GDP was up 6%.

Sequentially, the GDP increased 13.8% in the third quarter, faster than the 7.4% growth in the previous quarter.

For the January to September period, the GDP was down 9.9% compared to the same period of the previous year.

http://www.rttnews.com/ArticleView.aspx?Id=1154445
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Re: Russia 1 (May 08 - Jan 10)

Postby winston » Tue Dec 29, 2009 9:25 pm

Russia needs new arms to counter US shield: Putin

Russia must develop new offensive weapons systems to counter US missile defences and prevent US policymakers from feeling they can "do whatever they want," Prime Minister Vladimir Putin said Tuesday.

"To preserve the balance, we must develop offensive weapons systems, not missiles defence systems as the United States is doing," Putin said during a visit to the Russian Pacific port city of Vladivostok.

"The problems of missile defence and offensive arms are very closely linked," the powerful Russian prime minister said in comments broadcast on state television.

"By building such an umbrella over themselves our partners could feel themselves fully secure and will do whatever they want, which upsets the balance.

"Aggressiveness immediately increases in real politics and economics" in this situation, he added.

Putin's comments -- coming on the heels of a similar statement by President Dmitry Medvedev -- marked a toughening of Moscow's stance on strategic security ties with the United States.

The former Cold War foes had aimed to sign a new nuclear disarmament treaty to succeed the now-expired START treaty by the end of this year, but talks on that pact are still under way.

No new agreement is expected before next month at the earliest.

President Barack Obama announced last July plans to "reset" troubled US ties with Russia. Two months later, he cancelled plans to deploy elements of a new US missile shield in eastern Europe, near Russia's borders.

Russia had fiercely opposed those plans, pushed by Obama's predecessor, George W. Bush, and Moscow at first cautiously welcomed Washington's decision on the missile shield.

Obama however made clear US intentions to continue work on a new missile defence system elsewhere, and Putin's comments Tuesday marked the sharpest language heard from Moscow in some time on security ties with Washington.

Putin said the United States should hand over blue prints for its new missile defence plans if it was concerned over Russia developing ballistic missiles.

"Let the Americans hand over all their information on missile defence and we are ready to hand over all the information on offensive weapons systems," he said.

Moscow is asserting a right to develop new strategic missiles after winning a concession on this issue from US negotiators in talks in Geneva on a new nuclear disarmament pact, defence analyst Alexander Konovalov said.

Medvedev earlier this month said Russia would continue to develop a new generation of nuclear missiles, despite the START successor talks, saying "it is not possible to defend our country without them."

Konovalov linked Putin's comments to the disarmament talks but the Russian prime minister said those negotiations were "developing positively" and reaffirmed the need for a new agreement.

"Rules and a common understanding on arms limits, which can be easily verified and transparent are needed. The existence of such rules is better than their absence," Putin said.

START, signed in 1991 just before the collapse of the USSR, led to deep cuts in the Russian and US nuclear arsenals but expired without a replacement on December 5.

Obama's decision to drop US shield plans in Europe had been seen to lift a massive hurdle in disarmament talks.

Source: AFP Global Edition
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Re: Russia 1 (May 08 - Jan 10)

Postby winston » Sun Jan 31, 2010 7:58 am

Goldman Sees Russia ‘Correction’ as Stock Funds Exit (Update1)
By Michael Patterson and Jason Corcoran

Jan. 29 (Bloomberg) -- Russian stocks risk a “temporary correction” as commodity prices fall on concern China will increase interest rates, Goldman Sachs Group Inc. said.

“We see this as no more than a temporary correction, yet we would recommend tactically to diversify with a more defensive exposure,” strategists led by Moscow-based Sergei Arsenyev wrote in a research report. Russia is unlikely to outperform in the “very short term,” he wrote.

Russia’s Micex Index has retreated 5.5 percent from its 2010 high on Jan. 19 as crude oil prices sank 6.4 percent. Investors are concerned that interest-rate increases by China will restrain a recovery in the world’s fastest-expanding major economy that helped spur a surge in global equities since March including in Russia, the world’s largest energy exporter.

Russian equity funds posted their first net outflows in 12 weeks as investors withdrew $608.5 million from emerging markets on concern the global recovery will slow, research company EPFR Global said. Net outflows from Russia were $87 million for the week ended Jan. 27.

“We believe the outflow of cash from Russian assets might lead to additional pressure on the market and exacerbate the downward correction,” Mark Robinson, head of equity research at UniCredit SpA in London, said in a report dated today.

The Micex advanced 0.2 percent, reversing an earlier decline, to 1,408.10 at 4:39 p.m. in Moscow. The Micex level is equivalent to 8.7 times analysts’ 2010 earnings estimates for its traded companies, the lowest among major equity markets in developing countries, according to data compiled by Bloomberg.

‘Cheap’ Valuations

Russia is still the most attractive emerging market in the “medium term” given “cheap” valuations and the potential for the central bank to lower borrowing costs over the next 12 months, Goldman’s Arsenyev wrote.

“We are concerned about short-term headwinds for emerging markets,” Arsenyev wrote. “Our key concern is potential China tightening and its negative impact on short-term commodities prices.”

http://www.bloomberg.com/apps/news?pid= ... EddAO9FaJE
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Re: Russia 1 (May 08 - Feb 10)

Postby winston » Tue Feb 02, 2010 7:17 am

Russian economy hits 15-year low on reform gap

Russia's economy contracted 7.9 percent in 2009 in its worst performance for 15 years, as the country paid the price for failing to implement crucial reforms, statistics showed yesterday.

The gross domestic product contraction was the most acute since 1994, when the economy was still grappling with the chaos after the Soviet collapse.

But amid brightening prospects for 2010 the figure was slightly better than the government forecast of an 8.5 percent contraction.

Economists say Russia is paying the price for failing to reform and diversify its hydrocarbon-reliant economy during several years of high growth earlier in the decade.

Source; AGENCE FRANCE-PRESSE
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Re: Russia 1 (May 08 - Feb 10)

Postby winston » Sat Feb 27, 2010 7:47 am

THIS IMPORTANT MARKET NOW LOOKS "TOPPY"

Traders take note: Russian stocks – one of our favorite gauges of risk appetite – are struggling right now.

Seasoned traders see Russia like this: It's the largest country in the world... and blessed with incredible deposits of oil, natural gas, nickel, gold, timber, and diamonds. Those are the major "pros." The major "cons," however, are literally major cons. Most anyone who does business in Russia will tell you the government is as crooked as a dog's hind leg. This introduces tremendous risk to an investment or trading position.

This "lots of valuable resources, lots of risk" situation makes Russia boom and bust like crazy. Russian stocks skyrocketed more than 500% from 2003 to 2008. Then, during the credit crisis, they turned around and lost 80% of their value. In 2009, they staged another incredible rally and tripled off their lows.

But as you can see from today's chart, this rally is now stuck in the mud. Russian stocks, as represented by the Market Vectors Russia fund (RSX), have moved sideways since October. It has failed twice to eclipse its January high. The fund is also sporting massive trading volume on declining days and flimsy volume on advancing days. The "risk players" have had their fun and are now bailing.

Source: Daily Wealth
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Re: Russia 1 (May 08 - Apr 10)

Postby LenaHuat » Thu Mar 11, 2010 2:40 pm

From Russia with love, this beautiful Russian tall-ship is berthed at VivoCity, facing the RWS.
Free tours will be conducted every hour on the hour from 1000 to 1600 for tomorrow and Saturday. Gotta sign up at Customer Service Centre, Lobby F for the free guided tours.
I was there this morning to see this beauty. However, it was a pity that the masts and sails were rolled up since it's anchored.
Pallada - Winner of Tall Ship Regatta Japan for 10 years and Guinness Bk of Record holder for tall ship
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Re: Russia 1 (May 08 - Apr 10)

Postby winston » Sun Mar 21, 2010 8:18 pm

Reuters: Russia corruption “may force Western firms to quit”

“Extortion by corrupt officials in Russia has got so bad that some Western multinationals are considering pulling out altogether, the head of a US anti-bribery group said in an interview.

“Alexandra Wrage, whose non-profit organization TRACE International advises firms on how to avoid bribery, told Reuters the ‘rampant endemic’ corruption in Russia was much worse than in other big emerging economies.

“‘My recommendation is: ‘Maybe you should reconsider doing business in Russia,” she said. ‘I am considerably more optimistic about Nigeria than I am about Russia on this issue.’

“Berlin-based NGO Transparency International rates Russia joint 146th out of 180 nations in its Corruption Perception Index, saying bribe-taking is worth about $300 billion a year.

“‘A lot of the conversations (with businesses) around Russia are: ‘Can we stay there?”,Wrage said during a visit to Moscow last week to run a workshop for over 100 mainly Western firms.

“‘Companies are fearful of the US Department of Justice or the UK SFO (Serious Fraud Office) … they are really scrambling to get it right, and really struggling and, in the case of more than one company, talking about pulling out.’”

Source: Michael Stott, Reuters, March 15, 2010.
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