Putin and Russia seem to have a seemingly endless ability to spend money to support the country’s political aspirations. Whether it’s the mindboggling $50 billion for Putin’s pet project on the Sochi Olympics (up from Putin’s initial estimate of $12 billion, with which he personally used to lobby the IOC in Guatemala), the $2 billion […]
Repatriation of balances from accounts in foreign banks by public officials contributed to a record growth of deposits in “VTB 24”, according to the bank’s president, Mikhail Zadornov. By July individuals’ balances in “VTB 24” reached 982 bn roubles, an increase by 163.6 bn, or 20% since the beginning of the year. This is a […]
Earlier this month, EU finance ministers gave their approval for Latvia to become the eighteenth member of the Euro in January 2014. It seems counterintuitive that the country of two million people would want to enter the perpetually distressed and recession-stricken economic zone. But for Latvia it has a variety of benefits, not the least […]
Few developments speak so well of how far Caucasian dictatorships have come since the grey days of the Soviet Union as the fabulously wealthy and incredibly investment-savvy 15-year-old male heir of Azerbaijan’s ruling family. When he was a mere 11 years old, Heydar Aliyev, the son of Azerbaijan’s President Ilham Aliyev, purchased $44 million in […]
