DIRS.INFO The most relevant business & tech news

☆ The boss of Russia's biggest bank said the country's economy is 'definitely and strongly overheated'
▼ + stars: | 2024-06-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +1 min

Russia's economy is "definitely and strongly overheated," said Sberbank CEO Herman Gref. Gref said it's "impossible" to exceed the current production capacity, which is at 84%. Russia's sanctions-hit economy grew 3.6% GDP last year, driven by wartime activities. Herman Gref, the CEO of Sberbank — Russia's largest bank by assets value — said the country's economy is "definitely and strongly overheated," TASS state news agency reported on Tuesday. Gref, who was speaking in parliament, said production capacity was at a historically high level of 84%.

Persons: Herman Gref, Gref, —, Sberbank Organizations: Service, TASS, Business Locations: Ukraine

☆ Meet the woman who engineered Russia's wartime economy and helped secure another term for Putin
▼ + stars: | 2024-04-02 | by ( Huileng Tan | ) www.businessinsider.com time to read: +12 min

Russian central bank governor Elvira Nabiullina has played a key role in stabilizing Russia's sanctions-hit economy. It's also aimed at the woman behind him: Elvira Nabiullina, the country's central bank governor, who plays a chief role in keeping Russia's wartime economy ticking. At the time, she was the first woman to lead a Group of Eight, or G8, central bank. In 2015, Euromoney, a finance trade publication, named Nabiullina Central Bank Governor of the Year. In December, she issued a warning that Russia's economy was at risk of overheating.

Persons: Elvira Nabiullina, —, Putin, It's, Nabiullina, Daniel McDowell, McDowell, wined, Christine Lagarde, Nabiullina —, Richard Portes, Portes —, Portes, Anders Åslund, Åslund, Leo Tolstoy, Fyodor Dostoevsky, Franz Kafka, Yaroslav Kuzminov, Kuzminov, Nabiullina's, Alan Harvey, Herman Gref —, Central Bank Governor Elvira Nabiullina, Maxim Shemetov, Michel Camdessus, she's, isn't, Sergei Aleksashenko, Alexei Makarkin, Vladimir Pesnya, Nabiulina, let's Organizations: Ukraine, Service, Russian, KGB, Syracuse University, Kremlin, International Monetary Fund, US, London Business School, Moscow Times, Bloomberg, Higher School of Economics, —, Moscow State University, SNS, USSR, Industrial Union Board, Gref, Central Bank Governor, Nabiullina Central Bank Governor, Banker, Central Banker, IMF, Monetary Fund, Financial Times, Government, Political Technologies, Wall Street Journal, RBC, Politico Europe Locations: Russian, Ukraine, Russia, Brussels, Nabiullina, Swedish, Moscow, Ufa, Central Russia, Tatars, Crimea, Euromoney, Europe, steadying

☆ The CEO of Russia's biggest bank says the ruble is 'unjustifiably undervalued,' but Putin has downplayed the ruble's weakness — and it shows even Russia's elite don't see eye to eye about the economy
▼ + stars: | 2023-09-14 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Sberbank CEO Herman Gref said the Russian currency should be trading at 80 to 85 rubles to the US dollar. Gref's comments came just as Putin sought to project an image of calm in the country's economy at an economic forum on Tuesday. Russia's economy has been deeply impacted by Western sanctions ever since it invaded Ukraine, even if there's some support from the Kremlin's wartime spending. The impact of the sanctions on Russia's economy and currency has fuelled inflation. Russian inflation accelerated 5.15% year-over-year in August, well above the central bank's 4% annual inflation target.

Persons: Herman Gref, Putin, Gref Organizations: Service, Kremlin Locations: Russian, Wall, Silicon, Ukraine

Search resuls for: "Herman Gref"

3 mentions found