Moscow Exchange Monthly Market Report: August 2017

Source: Moscow Stock Exchange

Copyright © Moscow Exchange, 2011 – 2021. All the rights for the information and analytical materials published on this website are protected in compliance with the Russian legislation. Before you start using the website, please read User Agreement carefully. Display, distribution or any other use of the information published on the Exchange’s website or any of its parts is allowed only upon receiving prior written authorization from the Exchange.

MIL OSI

MFO market: portfolio grows and overdue debt goes down

Source: Central Bank of the Russian Federation in English

The market of microfinance organisations (MFOs) records an upward trend in the portion of companies resuming positive dynamics after the difficult year 2020.

In the first quarter, a little more than 50% of all MFOs expanded their portfolios. These data are provided in the 2021 Q1 Microfinance Market Trends, an information and analytical commentary.
Over the first three months of 2021, the overall microloan portfolio added 8%, which is slightly more than in the same periods of 2018–2020. Moreover, the portion of overdue microloans in the portfolio edged down by 0.2 pp to 28.7%.
Although this trend was mostly driven by large players, the MFO market is still moderately concentrated, with the top 50 companies accounting for 70% of the market portfolio.
Preview photo: Evannovostro / Shutterstock / Fotodom

MIL OSI

President of the Republic of Poland / News / President at the NATO Summit in Brussels

Source: Republic of Poland in English

US President Joe Biden is very concerned about security in Central and Eastern Europe, including Poland, the Polish president said on Monday after the close of the Nato summit in Brussels.

See also: Statement by the President at the meeting with the media Andrzej Duda told reporters that much of the summit talks concerned security on the eastern Nato flank, of which Poland is part, and threats to the region from Russia.

“I think the summit was very good, especially seen from our Polish point of view. Much was spoken about matters of direct concern to us – security on the eastern flank… or collective defence,” Andrzej Duda said.

Referring to his earlier face to face talks with Biden, Andrzej Duda Duda said the US president assured of his concern for security in Central and Eastern Europe.

“During the talks I had with Joe Biden, the US president made it very clear that security in Central and Eastern Europe, including Poland’s security, lay very close to his heart,” Andrzej Duda said.

He added that his talks with Biden also covered military cooperation, deterrence, and relations with Russia.

According to the Polish president, most of the summit participants, including Biden, saw Russia as a major security threat.

“The absolute majority of (the summit participants – PAP), including President Joe Biden, addressed the fact that the threat posed by Russia, by its various aggressive moves, its attack on Ukraine, is one of the biggest geopolitical threats today,” Andrzej Duda said.
He added that Russia was especially dangerous for countries in Poland’s region.

Andrzej Duda said the summit adopted a “Nato 2030” future roadmap prepared after the last Nato summit in London, which foresees more involvement by the Nato members in the Alliance’s functioning.

“We can expect the member states to show more engagement in the functioning of Nato, so in perspective we can also have hopes for an increased Nato presence in our part of the world, in our part of Europe,” Andrzej Duda said. (PAP)

MIL OSI

Moscow Exchange Monthly Market Report: July 2017

Source: Moscow Stock Exchange

Copyright © Moscow Exchange, 2011 – 2021. All the rights for the information and analytical materials published on this website are protected in compliance with the Russian legislation. Before you start using the website, please read User Agreement carefully. Display, distribution or any other use of the information published on the Exchange’s website or any of its parts is allowed only upon receiving prior written authorization from the Exchange.

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Banks not to charge commissions from individuals when counting coins and crediting them to accounts and deposits

Source: Central Bank of the Russian Federation in English

Bank of Russia banknotes and coins must be accepted at face value anywhere in the Russian Federation when they are used for making payments and transfers as well as when they are credited to accounts and deposits. The Bank of Russia has reminded credit institutions about the effective legislation.

The regulator has identified that some banks set commissions for accepting and counting coins when conducting such operations. The Bank of Russia considers this practice unacceptable.
Banks are obliged to accept coins and count them for crediting to accounts or for making transfers. These operations do not create any profit or value for clients; therefore, they should not be viewed as a separate service and be subject to additional payment.
Preview photo: BurAnd / Shutterstock / Fotodom

MIL OSI

President of the Republic of Poland / News / Statement by the President at the meeting with the media

Source: Republic of Poland in English

Good afternoon,

A very warm welcome to you at the media briefing following the closing of the NATO Summit.

First of all, I would like to say that I am very pleased  that this Summit has taken place and I thanked the Secretary General of the North Atlantic Alliance on that account: that it has taken place the way we used to hold NATO summits all those years. It is an honour and great pleasure to represent Poland here in the North Atlantic Alliance. It is gratifying that we have met directly. The fact that we have been talking with each other has also shown all our fellow citizens that international politics, too, is returning to normal after the coronavirus pandemic. I have made this point, by the way, in the first words of my speech today.

See also: President at the NATO Summit in Brussels In my opinion, the Summit has been a very good one, especially from our Polish vantage point. The matters that concern us directly have been thoroughly discussed: that is, security along the Eastern flank, the importance and weight of Article 5 being de facto the central article of the North Atlantic Treaty, that is, collective defence. Potential threats have been discussed at length, let me be straightforward about it, they have featured importantly in the vast majority of speeches, including that made by President Joe Biden.

Unfortunately, the threat from Russia, represented by its various aggressive behaviours, by its aggression against Ukraine, continues to be present, and this is one of the greatest challenges of today in the geopolitical sphere in general, and obviously especially for our part of Europe.

We have also discussed a very important document adopted today – concerning the future challenges for the North Atlantic Alliance. This document is called “NATO 2030.” Works on it have been ongoing since the NATO Summit in London. I can note with some satisfaction that our representative, Minister Anna Fotyga, participated in the work on this document developed by the group of experts.

The document has identified the most important issues, namely the future of the North Atlantic Alliance and the future policy to be pursued by NATO. So we should be expecting growing engagement in the functioning of NATO on the part of its member states.

Moreover, we can also expect the Alliance’s higher profile in our part of the world, in our part of Europe. Of course, this also has a bearing on the matters we have been discussing for years, namely an increase in member states’ defence spending : this point is also reiterated.

Then, preparation of a new strategy for the North Atlantic Alliance has been announced. Of course, the North Atlantic Alliance  has a strategy dating from 2010 which is still being implemented,. The assumption is that by next year, before the Summit to be held in Madrid in 2022, a new strategic concept will be developed, and we hope that it will be adopted in Madrid. So this is the task for the very near future.

These are the major issues that have come under discussion today in our meeting. As I have pointed out before, these are the issues that have been addressed eventually by all the heads of state and government taking the floor today. And all participants from all member states have taken the floor.

So one can say that the key message the NATO members are unanimously sending out to the world today is absolutely clear: security, security, and security again. Above all, security for our citizens, above all, our collective security.

As I have noted before: a very strong emphasis laid by President Joe Biden on the importance of Article 5 and the responsibility of the United States for global security, something for which I thanked the President in my speech. And from our Polish point of view this has been an absolutely vital issue.

All the more so because, in the earlier conversation that I had with President Joe Biden the President made it very clear that our security – the security of Central and Eastern Europe, of Poland, of the countries that have been accepted to be NATO members, having emerged from behind the Iron Curtain – is very important to him. As he observed, he was once the architect of the admission of these countries to NATO, and he himself worked to make sure these countries are accepted. So the sense of security among their citizens today and the sense of security of those countries as members of the Alliance is very much in his heart, undoubtedly a very good news from our point of view.

We also spoke with President Joe Biden about deterrence, and about military cooperation between Poland and the United States. We also talked about what concerns our neighbour, Russia. We expect to get some information from the American side following the conversation with President Putin – this was initially signalled.

Apart from that, I have had a whole series of bilateral meetings – more and less formal, because that is how things work at such meetings, where there are so many leaders present: it is an opportunity to talk with colleagues in an organized format, but also in a less organized format, more informally: simply stepping aside, stopping by to address the most important issues.

And I had a whole range of subjects prepared for discussion, so I have addressed with President Emmanuel Macron the prospects of furthering Polish-French cooperation – economic, military, energy cooperation, since these are currently the most relevant priority topics for us.

I have spoken with UK Prime Minister of Great Britain, Mr. Boris Johnson, about cooperation, primarily economic, but also military. But I have also spoken with the Prime Minister of North Macedonia. Indeed, there has been a whole series of talks today.

For me, the problem of our gas pipeline: the Baltic Pipe, now under construction, is also important – so I have addressed this with Madam Prime Minister of Norway and also with the Prime Minister of Denmark. I have its success at heart, so I asked them for their political support on that count. I pointed to the fact that this investment is the one we care a lot about;, we would like it to be implemented efficiently.

I also have spoken briefly with Prime Minister Justin Trudeau about supporting Ukraine. Canada’s commitment to helping Ukraine is universally known.  I assured the Prime Minister that we also support Ukraine and that they are not left alone in the difficult situation in relation to Russia.

So there have been many, many talks today – mostly, on issues related to military security – there has been a whole series of them. I am very satisfied with the course of this Summit, with all the meetings that have taken place today.

I can say that it has all run in a very good atmosphere. Evidently everyone was eager to meet and talk. As a matter of fact, there have been many discussions in the lobbies today. I would even go as far as to say there were more talks than ever:  everyone was much more disposed to talk.
Obviously, we have also had exchanges about our struggle with the coronavirus pandemic: what the state of play in our respective countries is, what the fight with pandemic looks like. There are many indications that the struggle with the pandemic is moving ahead, hopefully to its victorious end.

So these have been the most important issues that we discussed today. As I have noted: an intense day. As you could see, the plenary sessions themselves also lasted quite a long time. But I don’t think there was a single leader who – using the time allocated to them, and everyone had theoretically three minutes to speak – would not prolong their speech by at least two or three minutes, and sometimes longer. As a result, everything has been delayed.

It has been an important and much-awaited Summit, where everyone stressed the resilience of the Alliance, very much needed as it is; and also the need for a certain reopening: having taken stock of the reality at hand, also bearing in mind what we have all experienced: the coronavirus pandemic, this unheard-of turbulence in our social and political life. The need for a fresh look has been pointed out..

Hence, the challenges identified for NATO in the future – “NATO 2030” – have a very symbolic dimension in this context. I am convinced that intensive works will continue to address them.

MIL OSI

New Moscow Exchange listing rules to come into effect on 7 June

Source: Moscow Stock Exchange

Moscow Exchange will implement new listing rules effective as of 7 June 2016.
The new rules update the end of the transitional period allowed for issuers to comply with new listing requirements, including corporate governance standards, to 3 October 2016. This will give issuers sufficient time to pass the necessary resolutions at their AGMs and Boards of Directors meetings in June-September this year. New independence criteria for directors and new requirements for the company secretary have also been put back and will now come into force on 1 October 2017. 
Additional listing requirements have also been set for certain securities:
The NAV of mutual funds other than real-estate funds must be now at least RUB 250 million. Funds already admitted to trading must have the NAV of at least RUB 150 million to be maintained until 1 October 2017; 
The Exchange may determine self-regulated organisations of appraisers that cannot be used to list mortgage participation certificates backed with non-residential property. 
The new rules provide more exemption options with respect to the requirement, which comes into force from 1 July 2016, to nominate a representative of holders of unsecured bonds to be admitted to Level 2 or Level 3 list.   

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

MIL OSI

UC RUSAL listed on Moscow Exchange

Source: Moscow Stock Exchange

On 23 March, the Moscow Exchange admitted shares of RUSAL, one of the largest aluminium producers, to its top Level 1 List. Trading in RUSAL shares (stock code: RUAL) is expected to begin on 30 March 2015.
“Admission of the Company’s ordinary shares to the MOEX in addition to the company’s RDRs provides both our current as well as potential investors with additional opportunities, as they will now have access to a full set of instruments. Listing on the MOEX will link the stock markets of Hong Kong and Moscow; the infrastructure to allow free movement of shares between the two markets has been created,” commented Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets.
“The listing of RUSAL’s shares on MOEX will improve liquidity and broaden the company’s investor base. Listing ordinary shares will particularly benefit those market participants who are unable to trade Russian Depositary Receipts and those who prefer direct exposure of companies via ownership of original shares. ‘Thanks to reforms implemented on the Russian financial market in recent years, we see a trend of more foreign issuers with Russian assets listing on MOEX. RUSAL is the seventh such issuer, and we are delighted to welcome them to our market,” commented Alexander Afanasiev, CEO of Moscow Exchange.
RUSAL’s Board of Directors approved key parameters of the direct listing programme in 2013.
Admission documents are available on the websites of MOEX and of the Company. 
For further information, please contact the Public Relations Department at (495) 363-3232.

MIL OSI

Bonds of two companies to be delisted

Source: Moscow Stock Exchange

Intergrad documentary bearer bonds are to be removed from Level 3 of the list of securities admitted to trading from 11 July due to bond redemption.
Sinterra documentary bearer bonds series CP-1 and CP-2 are to be removed from Level 3 of the list of securities admitted to trading from 11 July due to the bond issuance having been declared null and void.
For further information, please contact the Public Relations Department at (495) 363-3232.

MIL OSI

Russian Navigation Technologies shares

Source: Moscow Stock Exchange

It was announced on 4 July 2014 that the Moscow Arbitration Court had moved to introduce monitoring and appoint a temporary manager at Russian Navigation Technologies.
In accordance with Moscow Exchange”s Clearing Rules, Russian Navigation Technologies ords are to be kept at Level 3 of the list of securities admitted to trading on Moscow Exchange’s Stock Market.
For further information, please contact the Public Relations Department at (495) 363-3232.

MIL OSI