Sales of consumer goods in 15 states of the Eurozone compared with the past 2007, dropped by 2.1 %. In October, 2008, the sales decreased by 0.8 % in comparison with September. The recession appears to be more serious, than analysts predicted.
The Russian authorities consider feasibility of allocation of 300 billion rubles (equivalent of 10.7 billion US dollars) to ensure state guarantees for the banks’ credits. Alexey Kudrin, Minister of Finance of the Russian Federation, announced that at the meeting on economic questions at Dmitry Medvedev, President of Russia.
MDM-Bank and URSA Bank announced decision of their shareholders to integrate their shares into a bank holding, which would result in creation of the largest private full service bank in Russia. This integration will ensure for both banks even a more advantageous position for implementation of their long-term development plans.
The next increase of the state deposit guarantees can amount to 300 thousand rubles. As a result, the sum total of the guarantees on bank deposits will reach 1 million rubles. For an estimation of the effect of a possible increase of the deposit insurance, the Central Bank of the Russian Federation and DIA have already requested new-form reports from the banks.
Recon International Publishing House informs its readers that an online access to the information concerning the companies and other structures presented in the annual Russian-English Directory PLUS-Eurasia Buyers Guide 2008–2009 is open in the information portal www.plusworld.ru in section www.plusworld.ru/eurasia.
On December 1, 2008, Anatoly Aksakov, President of the Association of Regional Banks, made a presentation in London, at a plenary session of the traditional annual forum «Russian Banking Sector», organized by Adam Smith Institute.
PLUS Journal announces expansion of its PLUS-daily on-line news project in the information portal www.plusworld.ru (its English language version is www.plusworld.org). Now we publish news at the moment when events are still happening!
According to the National Bureau of Credit Histories (NBCH), the number of the banks’ requests for credit histories has halved. Thus, if in September, 2008, the Russian banks requested credit histories 1.98 million times, in October this number decreased to 1.104 millions. This testifies to a shrinking volume of crediting.
In the period of November, 1- 25, 2008, the net outflow of deposits from the Russian banking system lessened, and did not exceed 0.5 %. The parameter appeared to be considerably less than in October, when the outflow from the domestic credit and financial establishments was in the country on average equal to 6 % of private persons’ deposits, or 300-350 billion rubles. Citizens withdrew from their accounts mostly rubles and because of fears of a possible devaluation of the national currency, converted them into dollars and euros. At that, practically nobody opened new accounts.
Within the framework of the collective policy aimed to counter the cyber crimes the EU countries intend to create a Common Cyber Attack Alarm System. Europol, global European police, will receive about 300 thousand euros for development of Internet crime information system.
ING Group Bank (Amsterdam, the Netherlands) and MasterCard Worldwide plan to undertake testing of mobile payments in Romania. Nokia 6212 mobile phones with NFC technology will be distributed among 500 consumers, who at the first stage of tests will be able to make payments in 30 shops in Bucharest.
Jose Manuel Barroso, head of Eurocommission, has suggested forming «a humanitarian rescue package» for poor countries in the conditions of the financial crisis.
At a meeting with journalists in Rostov-on-Don, Herman Gref, Chairman of the Board of SBERBANK of Russia, said that the bank would consider a possibility to delay payments of credits for the citizens who had lost their jobs. «We are thinking about this now. A decision is necessary, and I believe that in near future we shall prepare it», he said.
Before the end of 2008, the Ministry of Economic Development of the Russian Federation plans to present to the government of the Russian Federation a bill of bankruptcy of physical persons. The bill offers to the citizens, unable to pay off their debts, a procedure of bankruptcy, allowing them to pay their debts in installments in a period up to five years.
According to British The Times, in November, Abbey National Bank belonging to Spanish Santander, raised the rate on some cards from 16.9 % up to 19.9 %. This week HBOS increased the money transfer commission from 3 % up to 3.5 %.
Nokia announced termination of sales of its mobile phones in Japan, except for Vertu brand. The decision was taken, when the company failed to occupy any serious position in that market.
The House of Representatives of the National Assembly of Belarus approved the president’s decree, which fully guarantees compensations for deposits in the Belarus banks.
