VEB will sign 10 agreements with innovative companies

VEB will sign 10 agreements with innovative companies to finance projects

Vnesheconombank plans to sign at the St. Petersburg International Economic Forum more than 10 agreements with innovative companies to finance their projects, including a project to create a flying motorcycle, he said in an interview with Tass Bank Sergey Gorkov.

“We are signing here in the forum for more than ten agreements with innovative companies to develop new innovative projects”, – he said bitterly. According to him, it is a project to build a flying motorcycle, development of free Wi-Fi networks in public places and small satellites.

As reported recently, Sergey Gorkov, a lecture to students of Kazan (Volga) Federal University, VEB plans to present at SPIEF, which will be held June 1-3, a flying motorcycle design.

According to him, this is a Russian design, in which VEB has invested, and it is a completely new and promising form of transport: it is not a drone, a device that is capable of carrying a person, while 20 km at a speed of 80 km / h.

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Sberbank plans to convert one of Komi areas on

Sberbank plans to convert one of the Komi areas on non-cash payments

Sberbank CEO German Gref and the head of the Komi Republic Sergey Gaplikov on Friday signed an agreement on cooperation in the fields of the St. Petersburg International Economic Forum (SPIEF). In particular, it is intended to implement the project on transfer Kortkeros region of Komi to electronic payments, told German Gref.

“We have signed an agreement on comprehensive cooperation, including cooperation in the development of all types of contactless payments. And in the Komi Republic is one of the areas we have agreed to make a non-cash area “, – he said.

Gref said that such a project to transfer to cashless and contactless payments using a multi-function card is implemented in Zelenogorsk (Krasnoyarsk Territory). “And we will continue this cooperation in the Komi Republic in one of the areas at the request of the head of the republic. And I hope that will also bring positive results “, – he said.

According to the press service of the head of the region, in the agreement, in particular, identify areas of cooperation in the field of information and payment services, and the development of cashless payments in the territory of the region, creation of a single payment and identification tool – “Komi Republic Resident Card”. In addition, the document provides for the implementation on the basis of Kortkeros district project on introduction of modern payment instruments and technologies.

“As the largest financial and credit structure in the country, the Savings Bank has and related resources, and tools to implement in the region a number of collaborative projects, both large and small, very different direction. And what is very important, is actively expanding its presence in the Republic of Komi, the Savings Bank continues to focus on the social aspect of the activity. These trends, among others, included in the agreement “, – said the head of the Komi Sergey Gaplikov.

SPIEF is held in St. Petersburg from 1 to 3 June. This year the events of the forum are united slogan “In search of a new balance in the global economy.” TASS is the general information partner and the official SPIEF photochemical agency. In addition, the Agency operates the presentation area of ​​the forum.

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Pound fell after trade data from United Kingdom

The pound fell after the trade data from the United Kingdom

The pound fell against the dollar to session lows after the publication of the data, which showed that Britain’s trade balance deficit unexpectedly increased in May.

Now the pair GBP / USD is trading at 1.7119 (day before the data was 1.7134).

Probably will couple
support at Tuesday’s low and 1.7084
resistance at a session high of
1.7166.

The Office for national
Statistics reported that the deficit
UK trade balance in May
increased to? 9.2 billion from the deficit? 8.81
billion in April. economists forecast
deficit? 8.75 billion.

At the same time, exports
rose by 0.6% to? 24.1 billion, while
imports grew by 1.7% – to 33.3 billion?.

Sterling was also lower
against the euro, EUR / GBP pair rose
0.17% to 0.7964.

Today in the euro area
data showed that industrial
production in France, Italy and
Holland fell in May. Data
added to concerns over the outlook for
Economic growth in the region.

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Lb is 1 5 month low

Lb is a 1.5-month low

On Thursday afternoon, the pound fell to a half month lows against the US dollar.

Cause they see in yesterday’s optimistic data from the US. Economic growth continues to support demand for the dollar, although the Fed policy statement limits the rise.

During the morning
European trade, the pair GBP / USD reached
1.6874, the lowest level since June 12. The pair was likely
likely to find support at 1.6790, the low of
June 12 and resistance at 1.6955, the high of
environment.

Lb is 1 5 month low

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As Russian sanctions could affect Europe

As Russian sanctions could affect Europe

Russian retaliatory sanctions have caused a lot of debate and discussion, including in Europe. Restrictions apply a fairly narrow range of products, but the producers themselves say about the damage to business.

And the impact varies from country to country, so it is not surprising that the estimate of overall loss is not so simple.

As the sanctions will affect Europe?

The general situation with the volume of agricultural exports to Russia is clear. Total agricultural products accounted for 7% of EU exports, and of this amount, 10% comes from Russia.

This means that the share of agricultural exports in Russia is only 0.7% of the total.

But it is important to remember that this figure by itself does not reflect the impact on the economies of individual countries, so it can not be limited.

With regard to specific countries, the terms of trade with Russia, depending on GDP, exactly hurt the Baltic countries (Latvia, Lithuania and Estonia), as well as the losses will face Poland, the Netherlands, Germany and Denmark.

As sanctions affect Russia?

Most likely, for Russian consumers sanctions will translate into higher prices and a reduction in consumer choice.

Russian imports of agricultural products in the amount of about 1.2% of GDP per year, and it’s not much compared to other imported items such as, for example, machinery and equipment.

Russia is traditionally strong in the export of mineral resources and almost self-sufficient in agriculture, but a variety of chemical raw materials and machinery to be imported.

Nevertheless, agricultural production accounts for 13.3% of total imports. This volume is not so easy to replace, but Russia has several options.

Expand domestic production.

Given the natural resources and land at the disposal of Russia, as well as the resources of the state, it is quite possible.

From the standpoint of food security, Russia has been working in this direction.

Expand production with Eurasian counterparts.

As part of the current response to the crisis Russia strengthens ties with neighboring countries and in particular with countries in the Eurasian Union.

Some of these countries have significant agricultural sectors, although unlikely to increase supply to the volumes that are needed in Russia.

Search for partners abroad.

News that Russia is planning to conclude a number of deals with Latin America, abound. In this case Russia will likely also find support in China.

It is obvious that such actions have a negative impact on efforts to improve food security, but it will help to limit the negative economic impact.

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US market in thought

The US market in thought

US stocks
We finished the session in positive territory on Monday,
despite the fact that there remains tense
the situation in Ukraine and the Middle East,
which limits the growth of the US
indices.

Economic growth in the
Germany is likely to remain
weak in the coming months, according to
leading indicators published
on Monday, the Organization for Economic
Cooperation and Development. Data
Paris research organization
suggest that the growth of most
developed economies will remain near
the current level, while the contribution of large
emerging economies in the global
economic growth will be smaller in
compared with the period after the start
The 2008 financial crisis. As a result,
This combination of global growth is unlikely
to significantly accelerate this year.

From the market events today
still waiting:

At 18:00 MSK will be known
the number of open jobs in June.

At 22:00 MSK, there are data
on the value of the Treasury budget in July.
Economists expect the deficit at
previous month.

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Deutsche Bank euro is doomed to fall

Deutsche Bank: the euro is doomed to fall

Currency strategists at Deutsche Bank noted that further euro / dollar decline toward $ 1.25 (to achieve this mark is expected before the end of the year), there is plenty of reasons. The bank pay attention to the weakening of inflationary expectations and the sluggish growth of the euro area economy, the outlook is more clouded after the escalation of the situation in Ukraine. Russian retaliatory measures will have a negative impact on economic activity, the scale remains unclear, and the ECB has started to operate today to be proactive. the euro is not an unexpected decision of the central bank promises no good and only give impetus to the outflow of funds from fixed-income securities, which is already having a negative impact on the dynamics of the currency. In addition, it is noted, and the decline in demand for European action – that of growth in the euro has provided good support during the last twelve months.

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