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☆ Russia's top central banker says the country's economy is at a 'turning point'
▼ + stars: | 2024-11-20 | by ( Meghan Morris | Huileng Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementRussia's central bank has been hiking its key interest rate to combat inflation. Business leaders have slammed Russia's increasing interest rate, saying it restricted their growth. Russia's top central banker, Elvira Nabiullina, told the government yesterday that the country is approaching a "turning point" for inflation and interest rates, Moscow-based RBC Group reported. Last month, to tame prices, Russia's central bank hiked its key interest rate to a record high of 21%. He also downgraded Russia's fixed capital investment growth from 1.9% to 1%, blaming the central bank's key rate.

Persons: Elvira Nabiullina, Nabiullina, Andrei Klepach, Alexander Shokhin Organizations: Business, RBC Group, State Duma, Industrialists Locations: Moscow, Ukraine, Russia, Russian Union

☆ Russian economists and officials foresee a hard struggle in 2025
▼ + stars: | 2024-11-09 | by ( Thibault Spirlet | ) www.businessinsider.com time to read: +3 min

Russian officials and business leaders met at an economic forum this week. Russia's main interest rate is at 21% and could be hiked further still. Officials and business leaders shared pessimistic economic outlooks for 2025 at the Russian Economic Forum, held this week in Chelyabinsk, in central Russia. Andrei Klepach, chief economist at the state-run development entity VEB.RF, predicted that economic growth would fall from an estimated 2.5% to around 2% in 2025. Some, he said, would benefit from a subsidized interest rate of 1% to 5%.

Persons: —, Andrei Klepach, Alexander Shokhin, Shokhin, Mikhail Mishustin, Alexander Novak, Kirill Tremasov Organizations: Service, Russian Economic, Central Bank of Russia, Industrialists, Russian, Russia's Locations: Chelyabinsk, Russia, Ukraine, Russian Union, Russian

☆ Inside the island fortress of America's mega-billionaires
▼ + stars: | 2024-09-22 | by ( Guthrie Scrimgeour | ) www.businessinsider.com time to read: +21 min

An Israeli-designed radar system encircling the island can detect passersby, in low visibility, from half a mile away. Often described as "butlers with badges," the Indian Creek police force is unlike most of its counterparts. The Indian Creek radar can detect objects on the water and use artificial intelligence to classify them according to the risk they pose. With the new security system, the Indian Creek police appear to have turbocharged their enforcement of regulations in the surrounding waters. Properties in the neighborhood are also being bought up by opaquely named LLCs tied to Indian Creek residents.

Persons: —, I've, I'm, — they're, Norman Braman's, Tom Brady, Carl Icahn, Jeff Bezos, we've, Tiffany, William Henry Hoover, Frank Woolworth, Saratta, Gerardo Vildostegui, Vildostegui, it's, Irma Braman, Bernard Klepach —, Mike Bullman, Chandan Khanna, Justin Ross, who's, Ross, Gail Golden, Javier Holtz, Marko Gojanovic, Gojanovic, he's, Dina Goldentayer, Don Shula, opaquely, LLCs, Julio Iglesias, Surfside, Tim Will, Will, America's, Elon Musk, you'd, there's, Brian Daniel, Low, John Bernardo, Klepach, Guthrie Organizations: Public Space Research, City University of New, Indian, Jewish, Indian Creek Country, Security Solutions, Police, Getty, Biscayne, Indian Creek Police, Marquis Bank, Miami Dolphins, BI, CUNY Locations: Indian, Biscayne Bay, America, Miami, Qatar, Israeli, City University of New York, Florida, Surfside, Surfside's, York City, United Kingdom, Japan, Germany, India, stoke, Washington , DC

☆ The guy who sold his Miami mansion to Jeff Bezos for $79 million is really angry he didn't charge more for it
▼ + stars: | 2024-09-11 | by ( Lian Kit Wee | ) www.businessinsider.com time to read: +3 min

Read previewLeo Kryss sold Jeff Bezos a $79 million Miami mansion. Kryss, the cofounder of Brazilian toy company Tectoy, had listed his seven-bedroom mansion on Indian Creek Island, Miami, for $85 million in May 2023, Business Insider previously reported. After Kryss sold his mansion for $79 million — $6 million below its list price — he learned that the buyer was, in fact, connected to Bezos. Kryss is suing Douglas Elliman, which received a commission of over $3 million for handling the property sale. Bezos owns three properties on the island, with the latest purchased in April for $90 million.

Persons: —, Leo Kryss, Jeff Bezos, Kryss, Bezos, Jay Parker, Douglas Elliman, Douglas Elliman's Parker, Benny Klepach, Celine, Celine Klepach, Danny Hertzberg, Tom Brady, Jared Kushner Organizations: Service, Wall, Business, Wall Street Journal, Miami, Elliman, Coldwell Banker, Zillow, BI Locations: Miami, Florida, Dade County, Indian, Biscayne

[1/5] Grain farmer Oleksandr Klepach points at trenches in his field, amid Russia's invasion of Ukraine, in Snihurivka, southeast Ukraine, February 20, 2023. Agricultural companies, which plant most of Ukraine's fields, are short 40 billion hryvnia ($1.08 billion) to carry out spring work, the Agrarian Council said. Grains have traditionally dominated Ukraine's fields, but lower-cost and higher-priced oilseeds are gaining popularity during war. Ukraine was the world's fourth-largest corn exporter before Russia's full-scale invasion in 2022 and the biggest sunflower oil exporter. Companies lacking demining certification are charging farmers up to $3,000 per hectare to clear fields, Ukrainian media reported on Tuesday.

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