Новости

Moody's cuts sovereign rating of Russia and of its largest banks

The international rating agency Moody’s recently downgraded ratings of largest Russian banks – Sberbank, VTB, Rosselkhozbank, Gazprombank, Vnesheconombank, and Alfa-Bank. Outlook is “negative”. In case of Sberbank, the agency also lowered its credibility rating from Ваа3 to Ва1.

GAAP-IFRS.COM Digest: 13-17 October

Michel Prada says IFRSs “reduce friction” of the global financial system

In the course of the 31 session United Nations Conference on Trade and Development (UNCTAD) Intergovernmental Working Group of Experts in Geneva head of the IFRS Foundation Michel Prada spoke on importance of global accounting standards, their application, and what the IFRS Foundation does with other global organizations’ support to ensure their consistent and rigorous application.

EFRAG reports on additional consultations on leases

This year the European Financial Reporting Advisory Group (EFRAG) and national regulators of France, Germany, Italy and the UK held additional consultations on two different approaches to lease accounting which had been earlier proposed by the IASB and the FASB. Today European accounting experts present a report on all public consultations and outreach events on the subjects of leases which they held this year.

The new tax on real estate property may cause a wave of legal suits

In 2015 a wave of legal suits may engulf Russian courts. The reason for that is the tax on real estate property which will be calculated upon cadastral value. Well, we use to write a lot about what cadastral value is, and to put that short, it is: 1) controversial 2) subjective, and 3) higher than inventory value upon which the tax is calculated now. In fact, adoption of cadastral value for tax purposes means tax deductions 2-3 times higher for quite many Russian citizens.

Russian economic ministry developing a new stress scenario

This Thursday vice-chairman of the Ministry for Economic Development Alexei Vedev told Russian media that they would follow the Central Bank’s example and hold a research of economic consequences of oil prices hitting the mark $60 / barrel. Oil virtually makes Russia’s economy, and prices for it have been steadily and quite rapidly falling for more than a week already.

Wealth disparity may result in social disruption in Russia – Credit Suisse

According to the recent Wealth Report by Credit Suisse, 10% of Russia’s population own 85% of the country’s wealth. This greatly exceeds the same indicator of any other economically developed country. For example, in the USA it is equal to 75%, in China – to 64%.

Internet payments in Russia may be left without security protection in 2015

As we already informed, by the recently approved rules international payment systems like Visa or MasterCard will have to work through the National card payment system (NCPS). They will have to integrate with it by the end of March 2015 or deposit guarantee reserves otherwise. This week this new law was approved by the Federation Council, the upper chamber of the parliament.

Russian banks being protected against libel

The government of Russia is proposing to approve a new version of an older draft law to protect banks against public defamation – informs RBC-Daily. Untrue information, whether intentional or not, may upon the Central Bank’s decision be punished with prohibition of the website which published it. Putting an internet resource to the “blacklist” implies blocking of all messages and articles containing libel.

Dollar costs 41 roubles for the first time ever

American currency today appreciated by 8 kopecks and now costs 41 roubles sharp (as of 10:19 am). What’s more interesting, that’s for the whole time in history, ever. What's the national debt of the USA again?