Russia
Russia Articles
General Motors has announced it will shut down its St. Petersburg, Russia, factory by mid-year and revamp its product offerings in the country.
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AvtoVAZSales of new cars and light commercial vehicles in Russia declined by 78,228 units last month compared with the February 2014. Russian consumers purchased 128,298 light vehicles in February...
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Russia's bad behavior, which has resulted in economic sanctions and the collapse of oil from over $100 in June to $50, has taken another toll.
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Troubled by both war and the threat of financial collapse, Ukraine got a lifeline from the International Monetary Fund.
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The Ukrainian government has repeatedly claimed it is doing its best to improve the oil and gas investment climate, but official statements are the opposite of the reality.
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The ratings agencies have struck again -- this time in Russia. Standard & Poor's has downgraded the nation to below investment grade.
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One more downgrade, and Russia's government bond rating will be junk. The trend is moving rapidly in that direction.
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Sales of new cars and light commercial vehicles in Russia declined by nearly 300,000 units in 2014, compared with the prior year.
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Oil prices, the first among many things, caused credit rating agency Fitch to cut Russia's rating to "BBB- with a negative outlook."
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Record high post-Soviet crude oil production in Russia weighed down crude prices Friday. Russia intends not to cut output this year and expects the price of crude to stabilize.
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As Russia struggles to prop up its currency, the falling price of crude oil intensifies the pressure on both the ruble and the country's entire economy.
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Many experts believe that Russia will fall into a deep recession next year, due primarily to a drop in oil prices.
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Despite efforts to stabilize the crumbling ruble, the Russia trade just seems to keep going from bad to worse.
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Sanctions, and perhaps a drop in oil prices, are expected to stop Russia's GDP from moving at all in 2015.
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At the end of September, sales of new cars and light trucks in Russia year-to-date had dropped 13% year-over-year.
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