‘Ivanovs’ keen on new cars despite high inflation – Sberbank

Sberbank’s hypothetical Russian middle-class family metric – the ‘Ivanovs’- shows the average Russian family is concerned about high inflation, though that is still barely denting some peoples’ aspirations of getting behind the steering wheel of a new car.

April’s Ivanov index, a survey of more than 2,300 adults across 164 cities in Russia with a population of more than 100,000, notes people are still concerned about persistently high inflation, which in Russia is at around 7 percent.

  • Russian Officials Have 3 Months to Ditch Foreign Bank Accounts(voanews.com) Russian officials have until July 1 to get rid of financial assets abroad as part of President Vladimir Putin’s campaign to stem corruption and capital flight, his chief of staff said on Tuesday.
    Sergei Ivanov, held a rare Kremlin news conference to announce measures related to a drive to “de-offshore” the Russian economy – a term used by Putin in…


  • PAX Has Won the Tender by Sberbank of Russia(virtual-strategy.com) SHENZHEN, China, April 16, 2013 /PRNewswire/ — PAX Technology Limited, a global provider of electronic payment solutions, today announced that, through the efforts of its distribution partner in Russia, which is the wholly-owned subsidiary of a large holding ITG – INLINE…

  • Vladimir The Weak(rferl.org) Vladimir Putin clearly likes to keep an eye on his enemies. Perhaps he should be taking a closer look at his friends.
    Consider, for example, Kremlin chief of staff Sergei Ivanov.
    The KGB veteran and was widely considered the odds-on favorite to be Putin’s successor back in 2007 until he was passed over for the more pliant Dmitry…


  • No risk of recession in Russian economy this year – Kudrin(indrus.in)

  • Russian officials warn against “hasty” fiscal stimulus(news.terra.com) Two senior Russian officials warned political leaders on Thursday against rushing into more spending to stimulate a struggling economy at the risk of higher inflation.
    Russia’s $2.1 trillion economy expanded by just 1.1 percent in the first quarter, significantly below the Kremlin’s target of 5 percent, prompting President Vladimir Putin to urge…


  • Russia’s image problem in the US(blogs.ft.com) Even if growth is coming from other sectors, investors know that rising consumption is being fueled by oil money. The result is that even though Russian equities are cheap and are trading at discounts to their EM peers on a forward price/earnings basis, the value of Russian equities held by US institutions has fallen to a quarter…

  • Russia revises anti-corruption norms(nzweek.com) Russian President Vladimir Putin has signed a decree to further elaborate acts against corruption, Kremlin Chief of Staff Sergei Ivanov said Tuesday.
    Civil servants are obliged to submit declarations on their “incomes, expenditure, properties and ownership rights as of 2012 by July 1, 2013,” and the presidential department for…


  • Russia’s Cyprus problem(blogs.ft.com) Over the past few months, a lot of questions have been raised about the share of Russian money flowing through Cyprus , not always legally, and what effect this would have on an EU bailout for the island.
    Now as EU leaders prepare to meet and discuss the bailout this Friday, Moody’s raises two equally important questions: How at risk are Russian…


  • Saakashvili says Russia allegedly buying out Georgian banks(panarmenian.net) Director General of Liberty Bank Lado Gurgenidze, however, denied later that his bank was purchased by Russia’s Sberbank.
    “I want to point out that the information is not true. We had talks with the Russian bank neither in the past, nor at the moment,” Gurgenidze wrote in his Facebook account, according to RIA Novosti.


 Sign Up For My
FREE Newsletter
NameEmail:

read more at Reuters

Tags: , , , , , , , , , , , , ,

No comments yet.

Leave a Reply

Loading Facebook Comments ...
 Name: Email: We respect your email privacyPowered by AWeber Autoresponder