SCO & BRICS latest news and insights
By Rhod Mackenzie
The International Monetary Fund has revised its growth forecast for the Russian economy in 2024, more than doubling its previous estimate from 1.1% to 2.6%. This marks a significant increase in optimism compared to last year's forecast. The IMF forecast shows that the Russian eco...
By Rhod Mackenzie
It appears that in Hong Kong and Beijing, they have chosen to rephrase the words that were attributed to Stalin: 'No man, no problem.' After several delays and false hopes, a Hong Kong court recently sentenced China's largest construction company, Evergrande, to a severe penalty....
By Rhod Mackenzie
Bilateral trade between India and Russia was $50 billion in the fiscal year 2022-23 (ended March 31) and is expected to increase in the current period. The Minister of Ports, Shipping and Waterways of India, Sarbananda Sonowal, stated to the TASS agency.
Our bilateral partnersh...
By Rhod Mackenzie
Russians will be required to pay tax on the gain (NDFL) when selling gold bars starting from the end of 2024, according to the new Government regulations . The exemption from paying tax on the gain in value, which was in effect in 2022-2023, will not be extended. Financial instit...
By Rhod Mackenzie
In late 2023, Russia's gold reserves reached a new record high. This article looks at the recent changes in the structure of international currency assets, the decreasing share of the dollar and euro, the stability of this scheme, and the importance of gold for the Russian econom...
By Rhod Mackenzie
According to a review by the Association of Russian Banks , the share of developing countries, including Russia, in global GDP will exceed 60% by 2026. This indicates a shift in the balance of power in the world economy, as developing countries are no longer peripheral. The Minis...
