Russia 100209 Basic Political Developments
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- Interfax: Dollar edges down against ruble as oil shows signs of stabilizing
- Interfax: Banks have 477.6 bln rbs on CBR correspondent accounts on February 9
- The Moscow Times: Number of Exchange Booths Down by 1/4
- Business, Energy or Environmental regulations or discussions
National Economic TrendsRBC: Russia's tariff protection to double after WTO accession http://www.rbcnews.com/free/20100209110545.shtml RBC, 09.02.2010, Moscow 11:05:45.After Russia's accession to the World Trade Organization, the Russian economy's tariff protection would be double that in the European Union, Deputy Prime Minister and Finance Minister Alexei Kudrin stated for Channel One today. "After a 7-year transition period, our economy's tariff protection will finally be nearly twice as high as in the EU. This means that we will not be as open as they are. Moreover, we will retain even more restrictions in the banking sector," the minister stated. Interfax: Dollar edges down against ruble as oil shows signs of stabilizinghttp://www.interfax.com/newsinf.asp?id=145930 MOSCOW. Feb 9 (Interfax) - The dollar fell 9-14 kopecks in Tom deals from yesterday's closing to 30.38-30.43 rubles/$1 in the first few minutes of trading on the MICEX as oil prices and the global equity markets showed signs of stabilizing and the euro strengthened on the international Forex market. This was also 9-14 kopecks below today's official rate. The euro opened trading on the MICEX at 41.7-41.75 rubles/EUR1, or 5 kopecks above yesterday's closing rate and today's official rate. The dual currency basket ($0.55 and EUR 0.45) fell 7 kopecks to 35.5 rubles.
MOSCOW. February 9 (Interfax) - Russian banks have 477.6 billion rubles on correspondent accounts in the Central Bank as of February 9 including 330.2 billion rubles for Moscow banks. The balance on February 8 was 420.9 billion rublesand 277.1 billion rubles, respectively. Banks had 481.0 billion rubles on deposit accounts in the Central Bank on February 9 against 535.7 billion rubles on previous day. The Moscow Times: Number of Exchange Booths Down by 1/4http://www.themoscowtimes.com/business/article/number-of-exchange-booths-down-by-14/399306.html 09 February 2010 The Central Bank said Monday that the number of foreign exchange points has declined by almost one-fourth over the past six months, as new regulations are being prepared that would cut down on the number of such businesses. The proposed rules, which would affect 600 exchange booths in Moscow and the Moscow region, would require that the enterprises either operate within a physical bank or be converted into an official branch of a bank. Central Bank official Mikhail Sukhov on Monday said the Central Bank was “working on” the regulations and was aiming to distribute them to relevant government agencies for review “in the next few months,” Interfax reported. The Central Bank will get input from anti-corruption experts and share the proposed regulations with state agencies, said Sukhov, director of the Central Bank’s licensing and lending department. The review “is going to happen in the near future, I hope within the next few months,” he said. Sukhov downplayed the impact of the change on currency exchange businesses. Even “without our decision, in a little less than half a year, the number of [currency] exchangers in Russia fell from 898 to 709 and, really, no one noticed it,” he said. The effects of eliminating the stand-alone exchange businesses would be mostly confined to the Moscow area. Almost 90 percent, or 615 out of 709 exchange points, are in Moscow and the Moscow region, Sukhov said. The Central Bank says the regulations are aimed at protecting consumers from fraud. “We have been seeing more complaints about the activities of these exchange places from the client side, as well as from the regulator side,” he said. Separately, the Federal Anti-Monopoly Service said Monday that exchange booths should be offered an alternative to being shut down. “The Central Bank’s worries are understandable, but it is necessary when closing down the exchange booths to offer something in return,” Andrei Kashevarov, deputy head of the service, said Monday. “If we just close them, then the decision is unlikely to expand the accessibility of banking service,” he said, Interfax reported. He added that the service opened cases against several banks last year for fraudulently advertising exchange rates. The Central Bank is not proposing to close anything, Sukhov said. Any bank that wants to keep its currency exchange operations at their present location will be given a transition period to reregister as an official branch of a bank, he added.
The current trend might repeat the last grain exports of the record 2008-2009 season, when the grain volumes from Russia amounted to 20 million tons. Thus, in eight months of the current marketing year (2009-2010), Russian exports are at 13.1 million tons against 13.3 million tons in the reported period of 2008-2009. Business, Energy or Environmental regulations or discussionsReuters: Russian markets -- Factors to Watch on Feb 9 http://www.iii.co.uk/news/?type=afxnews&articleid=7742491&action=article MOSCOW, Feb 9 (Reuters) - Here are events and news stories that could move Russian markets on Tuesday. You can reach us on: +7 495 775 1242 STOCKS CALL (Contributions to moscow.newsroom@reuters.com): Gallion Capital: "The appetite for risk is slowly recovering, we expect a neutral opening of the Russian market today. The oil and gas sector will outperform, while the financials will underperform due to the negative dynamics in the United States." Olma: "Technical analysis does not exclude the possibility of a deepening correction downwards on the RTS index in the short-term." EVENTS (All times GMT): MOSCOW - Prime Minister Vladimir Putin to hold a meeting on government priorities in 2010. MOSCOW- A conference on Russia's telecommunication sector (to Feb. 10). Communications Minister Igor Shchyogolev to attend MOSCOW- Russia's central bank to hold an auction for five-week collateral-free loans for commercial banks, with 5 billion roubles on offer at a minimum bid rate of 11.25 percent IN THE PAPERS: Kommersant runs an interview with Igor Makarov, co-owner of Itera, who says the Russian gas producer made a net profit of around 4 billion roubles in 2009. State-owned mining company ARMZ Uranium Holding Co is looking for a strategic partner -- such as Mitsui -- to help it develop the Elkon mine, ARMZ's chief executive Vadim Zhikov tells Vedomosti business daily. TOP STORIES IN RUSSIA AND THE CIS: TOP NEWS: Ukraine awaits Tymoshenko concession or fight COMPANIES/MARKETS: Sberbank pays $1 bln loan ahead of schedule Gazprombank not planning IPO - sources PIK sees 2010 sales growth, more mortgages ECONOMY/POLITICS: Russia Jan car sales slump bodes ill for 2010 ENERGY:
N.Stream says schedule intact despite Shtockman Rosneft retained world's biggest reserves in 09 COMMODITIES: INTERVIEW-KRU sees coal exports down in 2010 Russia sees 2009/10 grain exports over 20 mln T Raspadskaya ups coking coal price by 22 pct MARKETS CLOSE/LATEST: RTS 1,387.34 +0.87 pct MSCI Russia 754.49 -2.90 pct MSCI Emerging Markets 897.71 +0.41 pct Russia 30-year Eurobond yield: 5.529/5.462 pct EMBI+ Russia 223 basis points over Rouble/dollar 30.5200 Rouble/euro 41.7450 NYMEX crude $71.79 -$0.10 ICE Brent crude $70.08 -$0.03 For Russian company news, double click on Treasury news Corporate debt Russian stocks Russia country guide All Russian news Scrolling stocks news Emerging markets top news Top deals European companies Keywords: RUSSIA FACTORS/ (Moscow Newsroom, +7495 775 1242, moscow.newsroom@reuters.com)
8.02.2010 Toyota's branch in Russia has announced the recall of 160 000 cars due to possible gas pedal problem. The recall concerns IQ, Yaris, Auris, Corolla, Verso, Avensus and RAV4 models made in 2005-2010. The car owners are informed they can take their vehicle to the nearest dealer centre to have their gas pedal replaced. The service is free, reports the Kommersant newspaper.
By Alex Nicholson Feb. 9 (Bloomberg) -- Russian stocks gained as crude oil rose above $72 a barrel for the first day in five on signals that the European central bank may help Greece with its budget deficit. OAO Gazprom, the nation’s natural gas monopoly, OAO Lukoil, its biggest privately held oil company, and OAO Sberbank, Russia’s biggest lender, climbed more than 1 percent. The 30- stock Micex rose 1 percent to at 11:15 a.m., after dropping 2.5 percent yesterday and surpassing the threshold for a so-called correction from its Jan. 19 high. European Central Bank President Jean-Claude Trichet will leave a meeting in Sydney a day early to attend a gathering of European Union leaders, fanning optimism policy makers will assist Greece. Russian stocks, the world’s best performers last year among more than 90 indexes tracked by Bloomberg, posted their worst drop in three months last week after oil fell to a seven-week low on concern that the rising deficits in Greece, Portugal and Spain will hamper economic recovery. “Optimism has risen that the European Union and the European Central Bank will propose a solution to halt the contagion,” Chris Weafer, chief strategist at UralSib Financial Corp. in Moscow, said in an investment note today. Crude for March delivery traded at $72.30 a barrel, up 41 cents, in electronic trading on the New York Mercantile Exchange. Yesterday, it rose 70 cents to $71.89. Energy, including oil and natural gas, accounted for 69.5 percent of exports to the Baltic states and countries outside the former Soviet Union last year, the Customs Service said. Gazprom gained 1.3 percent to 1,601.49 rubles in Moscow for the first gain in five days after falling 2.1 percent yesterday. Shares of Sberbank rose 1.2 percent to 80.25 rubles, after falling 4.6 percent yesterday to 79.28 rubles a share, the lowest level since Dec. 15. Lukoil shares advanced 1.2 percent. To contact the reporter responsible for this story: Alex Nicholson at anicholson6@bloomberg.net
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