Business Watch
President Vladimir Putin will in the next weeks choose a new head of Russia’s central bank, with economists hoping he picks a dependable figure and not a wild card to head one of its few trusted institutions.
The court has upheld the 4.2 billion rubles ($136.5 million) in claims that the Wolga Deutsche Bank (WDB) has filed against its debtors, the Deposit Insurance Agency reported in a statement obtained by RAPSI on Monday.
The courts have upheld 393 lawsuits filed by International Industrial Bank (Mezhprombank or MPB) to collect debts worth around 323 billion rubles ($10.5 billion), the bank's bankruptcy receiver, Deposit Insurance Agency, told RAPSI on Monday.
A Czech development group on Wednesday announced plans to invest more than 700 million euros ($910 million) in a project to build a business park in expanded Moscow.
Sberbank, Russia's top lender, posted a 65.2 billion rouble ($2.12 billion) net profit for the January-February period, up 5.7 percent year-on-year on the back of strong net interest and commissions income, the bank said on Thursday.
China Construction Bank (CCB), China’s second largest bank by assets, has opened a subsidiary in Russia in a bid to expand its Russian business, according to materials posted on the Russian Central Bank’s website on Wednesday.