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Former Federal Reserve Officer: 'Mess In Russia Adding To A Flight To Safety In The Dollar, Treasury Securities'
Wednesday, December 17, 2014 - 11:22am | 330Read More...Speaking to Benzinga, Former Federal Reserve Office Dr. Thomas Simpson said that the mess in Russia is adding to volatility in our markets and a flight to safety in the dollar and Treasury securities. “Volatility in financial markets is adding to the sell-off of stocks, which will counter...
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Apple Halts Russian Online Sales On Back Of Ruble Collapse
Wednesday, December 17, 2014 - 9:12am | 370Read More...It seems the Russian ruble collapse is affecting everyone, even tech giant Apple Inc. (NASDAQ: AAPL). The Russian Central Bank on Tuesday announced raising interest rates from 10.5 percent to 17 percent, creating a sort of minor panic in the global markets, following which the trading in ruble...
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Economist Dr. Mikhail Melnik: 'Best Course Of Action For Russia Might Be Allow Ruble To Depreciate'
Tuesday, December 16, 2014 - 8:16pm | 79Read More...Speaking to Benzinga, Southern Polytechnic State University Economist Dr. Mikhail Melnik said that a rise in interest rates for Russia is counterproductive. “The best course of action may very well be to allow the currency to depreciate and focus all efforts on the real sector,” he...
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Economist Dr. Mikhail Melnik: 'Russia Needs To Focus On Underlying Causes Of Crisis, Restructure Economy'
Tuesday, December 16, 2014 - 8:16pm | 123Read More...Dr. Mikhail Melnik, economist for Southern Polytechnic State University, told Benzinga that Russia needs to develop programs similar to the U.S. food stamps program. He said it should not only help shield from inflation to the most affected segments of the population, but also help fund the...
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Oaktree Capital Co-Founder On Investing In Russia, Decline In Oil Prices & Credit Markets
Tuesday, December 16, 2014 - 5:29pm | 530Read More...The Russian Central Bank surprised markets all over the world when it announced that it will be raising interest rates to 17 percent from 10.5 percent to limit the fall of the ruble. Howard Marks, co-chairman and co-founder of Oaktree Capital Group LLC (NYSE: OAK), was recently on Bloomberg to...
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Russian ETFs Reacting To More Government Moves
Tuesday, December 16, 2014 - 4:29pm | 694Read More...The Russian economy is in a downward spiral. A late night 650-basis point rate hike to 17 percent from 10.5 percent by the Russian Central Bank on Monday was the latest move by the country to save its currency. The announcement momentarily halted the freefall in the ruble. However, it was short...
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Economist Dr. Mikhail Melnik: Russian Economy Heavily Dependent On Prices Of Oil
Tuesday, December 16, 2014 - 2:56pm | 172Read More...Southern Polytechnic State University Economist Dr. Mikhail Melnik told Benzinga that the rise of oil and natural gas prices during this century helped Russia overcome the economic disarray of the 1990s. “The addiction to energy prices spread throughout the economy,” he said....
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Economist Says Russian Central Bank's Steps To Slow Deterioration Of Ruble Do Not Support Fundamental Solution, Possibly 'Counterproductive'
Tuesday, December 16, 2014 - 2:53pm | 156Read More...Speaking to Benzinga, Southern Polytechnic State University Economist Dr. Mikhail Melnik said that he understands the desperate efforts of the Russian Central Bank to slow down the deterioration of the ruble. But Melnik feels that these steps do not offer a fundamental solution and may even be...
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Russian Stocks Tumble On Weaker Ruble
Monday, December 15, 2014 - 4:10pm | 274Read More...An exchange-traded fund that seeks to mirror Russian stocks fell more than 10 percent Monday, as the ruble hit new lows against the dollar. The Russian ruble traded recently at 62.45 to the U.S. dollar, down about 4 percent despite a rumor reported by The Wall Street Journal that Russia's...
