Vol. 4, No. 11
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Crisis-ridden year ends, but leaves behind an agonizing legacy for global leaders
As 2009, the year devastated by the global financial crisis, finally found its repose in the world history, TRCW in this special edition has — with the help of top experts and CEOs of Russian and foreign companies — reviewed all the key events that happened over this period, their overall impacts on the Russian and global economies and their implications for businesses in 2010. These professional views and our traditional business features are published in this edition...
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The end of the crisis year that changes the world foreverAn assessment of the key activities in 2009 that radically changed the world forever in many aspects, including the shift from a dangerously unipolar to a safer multipolar world and the final dawn of China as the new center of gravity of the post-crisis global economy... |
The year 2009 and its results: Version of the Institute of Stock Market DevelopmentSergei Grinyaev, the CEO of the Russian Institute of Stock Market Development, reviews the impacts of the global crisis on the outgoing year’s business activities, both locally and internationally, and extrapolates their implications for businesses in 2010... |
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The year 2009 and its results review: IBA president's versionSammy Kotwani, the president of the Indian Business Alliance and CEO of The Imperial Tailoring Co., gives his opinion on Russia and its economy in 2009 as well as shares his company's future business plans and forecasts on the economy for 2010... |
Another gas conflict and supply disruptions freeze Europe at the peak of winterThe collapse in the negotiations on a new gas contract between Gazprom and Naftogaz in December 2008 prompted disruptions in gas supplies by Russia via Ukraine to its European consumers, thus putting the continent on the brink of fatal freezing in January 2009... |
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Kremlin sacks governors over poor crisis management expertiseExplaining his motive, President Medvedev noted that the increasing negative effects of the global crisis demand a new level of management from regional leaders... |
New Patriarch calls for tying salaries to actual performancesPatriarch Kirill calls for placing remunerations in strict dependence on people’s real contributions, saying the current crisis only underscores the urgent need for the adoption of such principle... |
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New deadline set for the second wave of the ‘toxic bank loans and assets’ crisisDeposit Insurance Agency CEO Alexander Turbanov says the probability of a second wave of ‘toxic assets’-related banking crisis is very high, and thus call for CEOs to put emergency plans in place... |
Russia confirms end of the worst phase of the global economic recessionFirst Deputy Prime Minister Igor Shuvalov officially says that Russia has exited the worst phase of crisis as greenshoots of recovery take deeper roots in the local economy, attributing the heroic feat to the government’s anti-crisis measures... |
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Russia passes anticrisis deficit budgets for 2010 and 2011-12Commenting on the adopted financial plans for 2010-12, Prime Minister Vladimir Putin calls the deficits in the budgets the maximally acceptable levels, noting that any changes to the adopted parameters will be done not by inflating the budgets, but via redistribution of expenditures... |
Holiday Inn’s Lesnaya and Suschevsky hotels hire new sales and marketing directorThe new sales and marketing executive has over 15 years of experience in the hospitality industry, where she had worked in different departments and capacities in local and international hotel brands... |
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Hilton Hotel once again declared the most recognizable brand in RussiaCalling Russia a key developing market for the chain, Simon Vincent, president of Hilton Worldwide in Europe, notes that such recognition is an incentive for the chain staffs, who always put in their best efforts to promote the brand’s reputation... |
Domina Hotels Group to invest 200mln euros in hotels chain development in RussiaCalling Russia a comfortable country for business, Domina Hotels Group CEO Ernesto Preatoni announces additional plans to invest 200mln euros in the country’s hotel industry and related services sectors... |
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The AZIMUT Hotel Moscow project approved and its delivery and opening date setAZIMUT Hotels Company CEO Alexander Gendelsman calls the development an important step as the new hotel will be his company’s debut in the Russian capital city... |
Gazenergoprombank grants Home Credit & Finance Bank a 1.8bln rubles loanCommenting on the agreement, Gazenergoprombank CEO Mikhail Khodursky calls the deal a confirmation of the bank’s systemic role that enables it to offer other banks loans secured by low-risked assets within the framework of the ‘Bank for Banks’ project... |
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Global property adviser Cushman & Wakefield gets a new CEO for RussiaThe CEO designate, who has worked at C&W Russia since 2003, will succeed the current CEO, Mark Stiles, the co-founder along with Sergey Riabokobylko of Stiles & Riabokobylko firm acquired by C&W in 2005... |
A landmark bank loan for Tatneft and the whole of Russian businessThe loan, offered in two tranches for 3 and 5 years, will attract interest rates of LIBOR+5.85% and LIBOR+6.85%, respectively, will be used to finance the construction of Tatneft’s Taneko oil refining and petrochemical factories complex in Nizhnekamsk... |
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IGSO experts see the world on the brink of an imminent energy revolutionOne of these central issues is energy, ranging from its generation, sources diversification, preservation and transportation to the possibilities of guaranteeing its hitch-free supply in adequate volumes, and at prices that are affordable by all... |
The year 2009 and its results: Version of the OPORA RussiaNatalya Ushakova, OPORA Russia Vice President and Intermedservice Co. CEO, gives her assessments of Russia’s overall economic performance in 2009 and shares her future business plans and forecasts for 2010... |
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Expert View on 2010: MIBA CEO's versionAlexander Borisov, CEO of MIBA and RCCI’s Consumer Market Development Committee chairman, analyses the impacts of the global financial crisis on Russia and its economy in 2009 and their probable implications for the country, its citizenss and their businesses in 2010... |
Crisis-ridden 2009 ends, but leaves behind an agonizing legacy for global leadersA major outcome of the current crisis is the final establishment of China as the biggest growth locomotive of the new global economy, as the gravity of international businesses shifts from the traditional financial hubs in the West to the rising economic ‘superstars’ in the East... |
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Nigerians use their Diaspora Day to highlight their nation’s business opportunitiesThe event follows a decision of the NIDO global parental organization for members to mark a Diaspora Day in their local communities and is aimed at tapping the potentials of all the Nigerian professionals abroad for the benefit of the nation’s development process... |
The Russian resort city of Sochi: the two sides of the Olympics MedalNikolai Popov, the NISGAILS chairman, reviews the government and private investors’ commitment to Sochi’s multi-billion-dollar project preparation for the 2014 Olympics and the Games’ importance to the whole nation... |
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