Results of auction for placement of the Russian Federation government bonds, issue # 26218RMFS on May 25, 2016

MIL OSI – Source: Moscow Stock Exchange –

Headline: Results of auction for placement of the Russian Federation government bonds, issue # 26218RMFS on May 25, 2016

Parameters of issue # 26218RMFS:

Maturity date: 17 September 2031.

Aggregate demand at par: 31772.239 mln. RUR.

Placed value at par: 10000.000 mln. RUR.

Minimal accepted price: 98.7111 %.

Yield at minimal accepted price: 8.8400 % per annum.

Weighted average price: 98.7111 %.

Yield at weighted average price: 8.8400 % per annum.

For further information, please contact the Public Relations Department at (495) 363-3232.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

26-27 May: The EU at the G7 summit in Japan

MIL OSI – Source: European Union –

Headline: 26-27 May: The EU at the G7 summit in Japan

The news:

The 42nd edition of the G7 will take place from 26 to 27 May in Ise-Shima, in the Mie Prefecture (Japan), under Japanese presidency. The European Union, who is a full member of the G7 (and the G20), will be jointly represented by the President of the European Commission, Jean-Claude Juncker, and the President of the European Council, Donald Tusk.

G7 leaders are expected to discuss coordinated action to tackle global challenges such as global economic growth, the refugee crisis, terrorism and various foreign policy issues.

The accreditation procedure for this year’s G7 summit has been closed on 6 May.

The background:

The G7 summit is a forum that plays an important role in shaping global responses to global challenges, complementing the global economic coordination carried out by the G20. Last year’s G7 summit was held in in Schloss Elmau, Bavaria (Germany) under German presidency. In accordance with the rotating presidency of the G7, next summits will be held in Italy (2017), Canada (2018), France (2019), and the USA (2020).

The event:

Participation of the President of the European Commission, Jean-Claude Juncker, and the President of the European Council, Donald Tusk, in the G7 summit in Ise-Shima (Japan) on Thursday 26 and Friday 27 May 2016.

Friday 20 May, 10.00, Justus Lipsius press room: press briefing by Piotr Serafin, Head of Cabinet of President Tusk and EU Sherpa for the G7.

Thursday 26 May, 9.00 Japanese Standard Time (2.00 Brussels time), Kashikojima Hojoen Sub-media centre (SMC1): pre-summit press briefing with Presidents Juncker and Tusk. Available on EbS

The sources:

Fact sheet: The G7 Summit in Japan on 26 and 27 May 2016: the European Union’s role and actions

Website of the Japanese presidency of the G7 (including information for media): http://www.japan.go.jp/g7/index.html. Twitter handle: @G7.

G7 research group annual publication on the G7 Summit, with contributions from Presidents Juncker and Tusk: www.g7g20.com/g7-Japan (registration required).

© Multimedia Investments Ltd Terms of Use/Disclaimer.

Thursday 26 May: The Commission adopts its monthly infringements package

MIL OSI – Source: European Union –

Headline: Thursday 26 May: The Commission adopts its monthly infringements package

The news:

On Thursday 26 May 2016, the European Commission will adopt its monthly infringements package. These decisions seek to enforce EU law across Europe so that citizens and businesses can benefit fully from the internal market.

A press release and a comprehensive factsheet on key decisions will be available in the Press Release Database on the day.

The background:

The Member States of the EU must apply EU law correctly and timely. The European Commission acts as a Guardian of the Treaty on the Functioning of the European Union (TFEU) and oversees the application of EU law under the supervision of the Court of Justice of the European Union (the Court). Article 258 of the TFEU gives the Commission the power to take legal action against a Member State that is not respecting its obligations under EU law.

The Commission and a Member State will first engage in an informal bilateral dialogue. If they do not succeed in finding a solution compliant with EU law, the European Commission may open a formal infringement procedure by sending a letter of formal notice (LFN, Article 258 of TFEU) to the Member State in question. If the Commission receives no satisfactory reply, the Commission requests the Member State to comply within a given time limit by sending a reasoned opinion (Article 258 of TFEU). If the Member State does not send a (satisfactory) reply after receiving the reasoned opinion, the Commission brings the Member State concerned before the Court of Justice of the European Union (the Court, Article 258 of TFEU).

In case the Member State still does not comply, the Commission launches a second infringement procedure by sending a second letter of formal notice. In a second judgement, the Court may, on the basis of a proposal from the EC, impose lump sum and/or a daily penalty payment on a MS concerned (Art 260(2) of TFEU). In cases of failure to convert EU legislative directives into national law on time, the Commission may propose penalty payments without the need for a second judgement (Article 260(3) of TFEU).

More information:

The contacts:

Overall coordination:

Alexander Winterstein, Uldis Šalajevs (see contact details below)

On specific infringements, please contact the Spokesperson in charge.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

Freedom of Press, Lennart Meri Conference, Defence Industry – Ostrogorski Centre Digest

MIL OSI – Source: Belarus Digest –

Headline: Freedom of Press, Lennart Meri Conference, Defence Industry – Ostrogorski Centre Digest

Director of the Ostrogorski Centre Y. Kryvoi with President of Estonia Ilves in Tallinn. Photo credit: Pavol Demes.

Over the last few weeks analysts of the Ostrogorski Centre focused on the treatment of the Chernobyl issue in Belarus’ foreign and domestic policies, as 26 April marked the 30th anniversary of the disaster.

They discussed the recent Freedom House report on media freedom worldwide arguing that it wrongly ranked Belarus too low and showed how Belarus’ defence industry demonstrated good results even despite Russia’s restrictive measures.

On the 30th anniversary of Chernobyl disaster, Igar Gubarevich discusses the return of Chernobyl issue to the list of Belarus’ foreign policy priorities after several years backstage. The treatment of the Chernobyl issue in Belarus’ foreign policy is an example of good-quality diplomacy. When fighting for resources, Belarusian diplomats have learned to adapt their actions and rhetoric to modern trends and the new vocabulary of multilateral relations.

Artyom Shraibman criticises the recent Freedom House global report, which ranked Belarus in the bottom ten countries in the world in terms of media freedom. Belarus provides complicated conditions for journalists’ work, but journalism in Belarus remains a far less dangerous job than in many of the countries ranked more favourably in the report. The expert suggests that engaging more Belarusian experts and revising the questionnaire would help Freedom House fight stereotypes rather than spread them.

Siarhei Bohdan shows how the Belarusian defence industry has succeeded even while Moscow continues its policy of restricting access to Russian markets for Belarusian defence firms. Minsk is responding by cooperating with Ukraine, China and numerous developing countries. The Kremlin is effectively forcing Belarusians to distance themselves from Moscow and build the economic foundations for an independent state.

Siarhei Bohdan comments for Polish Radio on the possibility for Russia’s hybrid intervention in Belarus as a response to NATO activity on its western borders. Experts believe that the Crimean scenario is impossible in Belarus. It is more likely that Russia will be pushing Belarus to establishing military objects on its territory.

Yaraslau Kryvoi at the annual Lennart Meri conference in Tallinn posed a question to the Foreign Minister of Poland Witold Waszczykowski about the changing perception of Belarus in the new Polish Government. According to the minister, there is definitely a new perception of Belarus in Poland because of the new government which tries to open all channels of dialogue with Belarus to keep it as closely as possible to Europe.

Yaraslau Kryvoi comments on the improvements in Freedom House rating for Belarus in 2015. The rating in the field of civil society grew due to the lack of political prisoners, increasing opportunities for civil society to raise funds inside Belarus and peaceful nature of the presidential election. He also explains the situation with the Brexit referendum and how it may affect Belarus to Belsat TV.

Ryhor Astapenia discusses on the Polish Radio the feasibility of the construction of the Belarusian nuclear power plant, chances that authorities will support Belarusian language, why China does not invest in the Chinese-Belarusian Industrial Park and how Belarusians should celebrate V-Day.

Ryhor Astapenia analyses the chances of Belarusian opposition to boost people’s support at the time of economic difficulties. To become more popular, the opposition should become a consolidated force, demonstrate interest in the daily life of Belarusians rather than focus on geopolitical questions.

Ryhor Astapenia explains to thinktanks.by why public administration in Belarus in its current form remains disfunctional. On a number of his examples shows that the government is unable to set realistic targets and ensure their implementation. This leads to a drop in public trust in the authorities.

Vadzim Smok explains to Radio Racyja why the Belarusian authorities do not persecute DNR fighters and pro-Russian groups in Belarus. These groups have the support of security forces, the Orthodox Church and the Russian government. In addition, they represent themselves as supporters of Belarusian authorities, although many of them deny the existence of Belarusian nation and statehood.

Siarhei Bohdan talks on Radio Liberty on pro-Azerbaijan position of Minsk in the new escalation of Nagorno-Karabakh conflict and Lukashenka’s visit to Turkey. Analyst sees these action as a continuing attempt to keep Belarus neutral and stick to international law, rather than switch to the side of Russia’s enemies.

Ryhor Astapenia comments for Polish Radio on the failure of Belarusian delegation at the new loan negotiations with IMF. Belarusian government does not want to take responsibility and tries to represent reform package as the IMF condition rather than urgent internal need.

Ryhor Astapenia talks on Belsat TV about the upcoming parliamentary elections in Belarus and new elements of the Belarusian electoral legislation. He predicts that Belarusian authorities will allow a relatively free parliamentary campaign to make elections legitimate for external observers, yet vote counting will hardly become transparent.

The BelarusProfile.com database now includes the following personalities: Anžalika Borys, Andrej Bastuniec, Mikalaj Chaliezin, Jaŭhien Nieŭhień, Viktar Šadurski, Maryna Zahorskaja, Alieh Trusaŭ, Anton Matoĺka, Alieh Hajdukievič, Andrej Stryžak.

We have also updated the profiles of Uladzimir Siamaška, Uladzimir Siańko, Iryna Tačyckaja, Paviel Tapuzidzis, Aliaksandr Fiaduta, Andrej Jelisiejeŭ, Anatoĺ Filonaŭ, Valiery Fraloŭ, Andrej Charkaviec, Aliaksandr Cierachaŭ, Valieryj Capkala, Viktar Ciareščanka, Mikalaj Čarhiniec, Aliaksandr Čubryk.

The Ostrogorski Centre continues to update the database of policy papers on BelarusPolicy.com. The papers of partner institutions added this month include:

  • Tacciana Čulickaja, Natallia Rabava, Iryna Vidanava, Uladzimir Kavalkin, Dzmitry Markušeŭski. Advocacy in belarus: experience of civil society organisations. OEEC, 2016.
  • Tacciana Čulickaja, Natallia Rabava, Ina Ramašeŭskaja, Uladzimir Kavalkin, Dzmitry Markušeŭski. Analysis of the social service sector in the Republic of Belarus. OEEC, 2014.
  • Kirill Shakhnov. Belarusian business cycles in a cross-country comparison: industry and aggregate data. BEROC, 2015.
  • Yuri Tserlukevich, Ilona Babenko, Pengcheng Wan. Is market timing good for shareholders? BEROC, 2015.
  • Aliaksandr Aŭtuška-Sikorski, Jury Čavusaŭ, Uladzimir Arciuhin, Aliaksiej Lašuk, Dzianis Mieljancoŭ, Vadzim Mažejka. Biannual monitoring of the main trends BISS-Trends (January-June 2015). BISS, 2015.

Think tanks in Belarus are encouraged to submit their research for inclusion onto the database by completing this form.

The Ostrogorski Centre is a private, non-profit organisation dedicated to analysis and policy advocacy on problems which Belarus faces in its transition to market economy and the rule of law. Its projects include Belarus Digest, the Journal of Belarusian Studies, BelarusPolicy.com, BelarusProfile.com and Ostro.by.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

В Белгороде прошли ведомственные соревнования «Русская стенка –2»

MIL OSI – Source: Russian Federation Ministry of Internal Affairs –

Headline: В Белгороде прошли ведомственные соревнования «Русская стенка –2»

Сегодня в спортивном комплексе Белгородского технологического университета имени В.Г. Шухова состоялись командные соревнования среди сотрудников различных подразделений регионального УМВД «Русская стенка – 2».

Первое состязание «Русская стенка» было организовано спортивно-патриотическим клубом «Белогор» в декабре 2013 года, а  в 2015 году, по инициативе начальника регионального УМВД, в соревнованиях впервые приняли участие сотрудники полиции – всего шесть команд.

Сегодня за Кубок УМВД России  по Белгородской области боролись уже 9 команд: «Вежливые люди» – ОМОН УМВД, «Дружина» – СОБР УМВД, «Убойная сила» – УГИБДД УМВД, «Скала» – УМВД России по городу Белгороду, «Витязи» – ОМВД России по Шебекинскому району и городу Шебекино, «Горняки» – ОМВД России по городу Губкину, «Управа» – аппарат УМВД России по Белгородской области, «Оскольский» – УМВД России по городу Старому Осколу, «Легион» – Управление вневедомственной охраны.

Перед началом соревнований с приветственным словом к участникам обратился председатель огркомитета турнира – начальник УМВД России по Белгородской области Виктор Пестерев. Он отметил, что «Русская стенка» –  это настоящий мужской вид состязаний, который демонстрирует силу духа, стойкость, отвагу, сплоченность.   Он имеет глубокие национальные корни. Сотрудники силовых структур, а, в частности, полиции,  должны быть носителями русских традиций.  Кроме того, такие соревнования позволяют проявить свои лучшие профессиональные качества – физическую и служебную подготовку.  Виктор Николаевич выразил уверенность в том, что «Русская стенка» станет традицией для белгородских полицейских.

К приветственным словам присоединились проректор Белгородского технологического университета имени В.Г. Шухова Владимир Борисовский и Герой Российской Федерации Вячеслав Воробьев.

Бои проходили на площадке размером 14х7 метров. В состав команд вошли по 9 человек (7 основных и 2 запасных бойца). Основная задача участников поединков – вытеснить соперников за пределы площадки, используя приемы ударной техники руками и толчки для выведения противника из равновесия. При этом запрещены удары локтем, ногами, ниже пояса, в спину, удары головой, а также приемы борцовской техники. Боец,  потерявший равновесие и сбитый с ног, получивший нокдаун, имеющий рассечения, вытесненный за пределы площадки, а также грубо нарушивший правила состязаний, должен покинуть поле до следующего «схода». Команда, к окончанию «схода» оставшаяся в пределах площадки, объявляется победителем. В случае, если на поле остается один боец против трех противников, за явным преимуществом победа присваивается команде, оставшейся в большинстве.

По решению судейской бригады, которую возглавил основатель народного состязания «Русская стенка», председатель региональной общественной организации спортивно-патриотического клуба “Белогор” Алексей Ярмак, победу одержала команда ОМОН “Вежливые люди”, второе место завоевала команда СОБР “Дружина”, тройку лидеров замкнула команда УМВД России по Белгородской области “Управа”.

В церемонии награждения победителей и участников приняли участие Виктор Пестерев, Владимир Борисовский и Вячеслав Воробьев. В заключение мероприятия глава регионального УМВД вручил благодарственные письма организаторам соревнований.

                                                                                           

© Multimedia Investments Ltd Terms of Use/Disclaimer.

Socio-economic actors to play a key role in post-Cotonou

MIL OSI – Source: European Economic and Social Committee –

Headline: Socio-economic actors to play a key role in post-Cotonou

The Economic and Social Committee calls for new EU-ACP partnership that puts civil society in the driving seat

During its Plenary session today, the EESC put forward recommendations on how EU trade, aid and development mechanisms should be reshaped to be more effective in dealing with current and future challenges in relations with African, Caribbean and Pacific (ACP) countries. These recommendations will influence the new framework that will replace the current Cotonou Partnership Agreement (CPA), signed by 79 ACP countries and the EU and due to expire in February 2020.

Despite some successes, issues such as extreme poverty, gender inequality and environmental degradation persist across the regions concerned. At the same time, new United Nations Sustainable Development Goals (SDGs), adopted in September 2015, aim to mobilise all actors and be universally applicable.

In order to effectively implement the SDGs and deliver better outcomes to both ACP and EU citizens, the EESC wants a new framework recognising the importance of political dialogue in fostering civil society participation in the whole development process. The EESC believes that the role of civil society should also extend to monitoring and assessing the impact of the implementation of the future agreement, and to undertake this role civil society should receive the necessary financial support.

Ahead of the vote on the relevant opinion, the EESC held a debate with Joseph Chilengi,
President of the Economic, Social and Cultural Council of the African Union (ECOSOCC) and Neven Mimica, European Commissioner for International Cooperation and Development.

Mr. Chilengi welcomed the EESC opinion, urging for change: “We are at a crossroads – the EU and the ACP group should decide whether they should conduct business as usual or either terminate or rejuvenate their partnership. There are signs that the ACP group is not a priority for the EU, and the partnership between the two rests on weak political foundations and long-standing decisional impasses“.

Mr Mimica stated: “The Cotonou agreement is the EU’s strongest example of turning political will into a concrete framework. It is now time that we work together to find the best model for the future of our relationship and should shift the paradigm from a negotiation to dialogue. In drafting our joint development policy, we should refer to the Sustainable Development Goals. We aim to link these goals to the EU consensus for development by the end of this year“.

Future partnership must embody the ‘partnership of equals’, which recognises the universality of challenges across EU and ACP countries: income inequality, youth unemployment, climate change and more. In joint cooperation and as equals, EU and ACP partners can strive to solve development challenges in both the EU and ACP states,” said Brenda King, EESC rapporteur on the opinion on the future of EU relations with ACP countries. The ‘partnership of equals’ approach will enable relations with the ACP countries to be based on a coherent and integrated EU external policy, transcending the donor-recipient relationship.

Blueprint for a future partnership

The recommendations for the new ACP partnership are, first, to be in line with the SDGs, which include 169 targets that aim to end poverty and hunger; to ensure access to affordable and sustainable energy; to build resilient infrastructure; to combat climate change, and to promote equal access to justice for all. The EESC believes the SDGs provide a framework for achieving joint objectives that have global reach.

Secondly, development funding should be used to build capacity for better use of domestic resources. According to the OECD, every US$1 of overseas development assistance spent on building tax administration capacity has the potential to generate thousands of dollars in incremental tax revenues. ACP countries should also be supported in their industrialisation and in the processing of their raw materials and commodities for local, regional and international markets.

Further, future cooperation must address the serious shortage of skilled workers in fast-growing sectors, one of the reasons why ACP countries export raw materials that are then processed elsewhere. These countries also need their own experts in order to tackle developmental challenges, including climate change.

Finally, the EESC strongly recommends that EU development aid should fall under the same legal framework as the community budget, and be subject to democratic scrutiny by the European Parliament.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

Die Telekom hält, was sie verspricht

MIL OSI – Source: Deutsche Telekom –

Headline: Die Telekom hält, was sie verspricht

25.05.2016

In der Kölner Lanxess Arena ist die Hauptversammlung der Telekom zu Ende gegangen. Die Versammlung nahm alle Anträge von Vorstand und Aufsichtsrat an. Den Aktionären wird für das Jahr 2015 eine Dividende von 0,55 Euro je Aktie gezahlt.

Unter dem Motto “Antworten für die digitale Zukunft” standen Aufsichtsrat und Vorstand der Telekom den Aktionären bei der Hauptversammlung Rede und Antwort. “Die Telekom baut das Netz für die Gigabit-Gesellschaft. Wir legen damit das Fundament der Digitalisierung”, betonte Telekom-Chef Tim Höttges gleich zu Beginn der Veranstaltung. “Die Telekom wächst. Und zwar kräftig.”Der Konzern habe sein Versprechen aus dem vergangenen Jahr – Wert für die Aktionäre zu schaffen – gehalten: Die Telekom-Aktie erzielte 2015 mit Kursverlauf und Dividende eine Rendite von 30 Prozent.

Digitalisierung: “Mehr Optimismus wagen”
Neben dem Rückblick auf das vergangene Geschäftsjahr, nutzte Tim Höttges seine Rede, um auf den Ausbau der Netze in Deutschland einzugehen. “Deutschland braucht schnelle Netze. Deutschland braucht Breitband für alle. Und zwar heute und nicht morgen.” Mit den Wettbewerbern ging er hart ins Gericht: “Unsere Wettbewerber kritisieren und jammern in einer Tour. Mal finden sie die Mieten zu hoch, die sie für unser Netz zahlen. Mal haben wir angeblich die falsche Technik. Dann ist der Ausbau angeblich zu langsam. Aber sobald wir ausgebaut haben, nehmen diese Kritiker unser Netz. Jammern baut kein Netz. Besser investieren als kritisieren.” Kein anderes Unternehmen in Deutschland hat mehr Glasfaser verlegt, als die Deutsche Telekom.

In der Digitalisierung sieht die Telekom viele Chancen, auch wenn sie manchen Menschen Sorge bereite. Seit Anfang des Jahres werde deshalb über die “Digitale Verantwortung” diskutiert – Man kenne zwar nicht alle Antworten, aber die Experten, die sich jeden Tag damit beschäftigen.

Positive Stimmen
Die Aktionäre zeigten sich sehr zufrieden mit dem Ergebnis der Telekom: “Vielen Dank, Herr Höttges! Wir erleben eine Telekom, die wettbewerbsfähig, kundenfreundlich und effizient ist”, sagte einer von ihnen im Rahmen der Generaldebatte.

Vom Wachstum profitieren
Am Wachstum der Telekom sollen die Aktionäre auch zukünftig teilhaben, verkündete Höttges und bestätigte die Prognose bis 2018: “Wir haben für jedes Segment eine Antwort für die digitale Zukunft. Wir liefern Innovationen. Wir haben eine klare Strategie, die wir umsetzen. Damit Ihre Dividende weiter steigt.”

© Multimedia Investments Ltd Terms of Use/Disclaimer.

Meeting with French business community representatives

MIL OSI – Source: President of Russia – The Kremlin – English –

Headline: Meeting with French business community representatives

President of Russia
Vladimir Putin
: Colleagues,
friends,

Let me welcome you all to Moscow. It is a great
pleasure to meet the members of the Economic Council of the Franco-Russian
Chamber of Commerce and Industry.

France is without a doubt one of our
longstanding and reliable partners and we are very pleased to see you here.

Let me start this meeting by noting that
despite the various difficulties we face, problems of an economic nature and also politically motivated issues, none of the more than 500 French companies
working on our market have left Russia. Everyone is still here and continues to work, and we are very happy to see this.

But unfortunately, the factors I just mentioned
have led to a drop in our bilateral trade of more than 30 percent – 36 percent
to be exact. But there are also some positive moments, and I will say more
about this now.

We are reviving our cooperation mechanisms.
After a long hiatus, our inter-agency council on economic cooperation has
resumed its work, and the Intergovernmental Commission, which is headed by our
two countries’ prime ministers, has agreed to hold its next meeting before the end of the year.

These purely administrative developments are
good to see, but what really pleases us is that despite the current
difficulties, we saw an increase in reciprocal investment last year. French
investment in the Russian economy grew at a very fast pace with French
companies investing more than one billion euros.

This is partly motivated by a desire to preserve positions on our market, including in the agriculture sector, where
several million has been invested in cheese production in the Russian
Federation. We most certainly welcome this and will do everything we can to put
in place the conditions needed for further investment, reciprocal investment
too, because over this same time, Russian businesspeople have increased their
investment in the French economy.

As you know, we will soon be hosting the next
[St Petersburg] International Economic Forum. We will be happy to see you all
at this event, at which we will discuss in detail how to develop relations with
our partners.

Of course, we will also continue active efforts
to create a good environment for doing business in Russia, for Russian
businesspeople and for our foreign partners and friends. I was discussing this
very matter just before with members of the Russian Government, the business
community, State Duma deputies, and regional heads. We are drawing up our future
plans for developing these favourable conditions.

Our efforts in this area have already brought
some positive changes of late. We have moved from 120th place to 51st
place on the World Bank’s well-known Ease of Doing Business Index. True, we are
not in first place, but it is nonetheless a big jump up and the progress is
clear.

We have maintained Russia’s economic stability
and I have no doubt that we can continue to do this. We also succeeded in stabilising state finances after the Central Bank introduced a floating
exchange rate for the ruble.

We follow a very balanced budget policy,
putting our primary focus on macroeconomic stability. We have succeeded in these efforts overall.

We have a good trade balance. Last year, we
worked with a surplus of $168 billion, and we already have a surplus of $16
billion for the first quarter of this year. In other words, this trend has
continued.

Let me note too that, as is known, we had some
problems with a contraction of our gross domestic product, and this contraction
continued over the first quarter of this year too, but it was twice less than
over the same period in 2015.

In other words, there is a stable trend towards
an improvement in our macroeconomic indicators, including GDP. Our task now is
to maintain this over the coming period. At the same time, we have one of the lowest levels of state debt – it is around 10–12 percent, and our gold and foreign currency reserves are growing and as of May 1 this year came to $391.5
billion. Our goal is not to stuff the state coffers full though, but, as I said, to create good conditions for working on the Russian market.

I am happy to see you and it is with pleasure
that I will listen to your views on what more we should do to ensure that you
have a comfortable environment on the Russian market.

Thank you very much for your attention.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

О деятельности АО «ФИА-БАНК» (25.05.2016)

MIL OSI – Source: Central Bank of the Russian Federation –

Headline: О деятельности АО «ФИА-БАНК» (25.05.2016)

Банком России в ходе текущего надзора за деятельности АО «ФИА-БАНК» установлено низкое качество активов банка, а также выявлены операции по кредитованию им организаций и физических лиц, имеющих сомнительную платежеспособность, и операции, направленные на вывод из банка активов. Так, существенная часть кредитов (на сумму не менее 5,5 млрд рублей) предоставлена банком лицам и (или) организациям, прямо либо косвенно связанным с акционерами банка.

Выполнение АО «ФИА-БАНК» требования Банка России об устранении выявленных нарушений привело к утрате банком собственных средств (капитала) и, как следствие, к отзыву у него приказом Банка России от 08.04.2016 № ОД-1179 лицензии на осуществление банковских операций.

По результатам анализа финансового состояния АО «ФИА-БАНК» временной администрацией установлено, что справедливая стоимость активов банка по состоянию на дату отзыва у него лицензии на осуществление банковских операций не превышает 10 млрд рублей при величине обязательств в сумме 17,4 млрд рублей.

Информация о финансовых операциях, имеющих признаки уголовно наказуемых деяний, осуществленных руководством и собственникамиАО «ФИА-БАНК», направлена Банком России в Генеральную прокуратуру Российской Федерации, Министерство внутренних дел Российской Федерации, Следственный комитет Российской Федерации для рассмотрения и принятия соответствующих процессуальных решений.

© Multimedia Investments Ltd Terms of Use/Disclaimer.

Posting of Workers: Declaration of the EESC Workers' Group on the use of the 'yellow card' procedure

MIL OSI – Source: European Economic and Social Committee –

Headline: Posting of Workers: Declaration of the EESC Workers’ Group on the use of the ‘yellow card’ procedure

The EESC Workers’ Group is very critical of the “yellow card” procedure which is being used by a group of countries to totally destabilise the Commission’s proposal on the revision of the Posting of Workers’ Directive. We believe this is an abuse of the legal possibilities offered by the Treaties as the Commission proposal does not go against the principle of subsidiarity. Moreover, it is very clear that posting of workers must be regulated at the European level. Posting is a cross-border phenomenon which concerns all Member States and should be addressed in a converging way in order to avoid disparities in the interpretation and implementation of the legal instrument in particular to ensure ‘equal pay for equal work at the same place of work’, as promised by President Juncker on several occasions. It seems that the initiative of this group of countries is to block the proposal to eliminate the legal loopholes in the existing directive and to continue to allow social dumping and unfair competition. If this happens, the Single Market will be associated with unfair and discriminatory practices which will lead to a further fragmentation of the labour market and undermine the whole European project. We therefore appeal to the Commission to continue with this crucial initiative and to deliver on Commissioner’s Thyssen’s commitment to deliver fair labour mobility in Europe as soon as possible.

© Multimedia Investments Ltd Terms of Use/Disclaimer.