NRCC Christmas Event 2015

 

On 9 December the NRCC has gathered many guests for traditional Christmas Event, which took place at Telenor’s facilities in Fornebu. The evening started with gloegg and networking session, followed by Christmas Meeting. Special invited guest speaker from Moscow, Mr. Andrey Krivorotov, Head of Department of Corporate relations at Shtokman Development AG, opened the meeting this year with the presentation “Arctic offshore development: Global challenges and bilateral prospects. Norway and Russia in the North: How to maintain momentum?”. The other guest speaker, Mr. Halvor Tjønn, introduced his new book ”The making of Russia. How the Russian state was created and how it developed through the first 700 years”.

Next, Communications Manager from the NRCC Rune Methi has shown the highlight of the Chamber’s activities in his presentation “NRCC - year 2015 in review”.

NRCC cross cultural understanding award 2015 was presented to Mr. Igor Kopsov,Region Manager for Russia from Technip company. He was rewarded for outstanding contribution over the years by social entrepreneurship and enhancement of knowledge to the benefit of members of the Norwegian-Russian business community.

For the rest of the evening the guests enjoyed traditional Norwegian buffet-dinner with Russia and Norway inspired entertainment and quiz. 

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NRCC & GCE Blue Maritime Russia Seminar in Ålesund:  Market opportunities for the maritime industry  in the Russian Market

On 3 December the NRCC in cooperation with Global Center of Expertise - Blue Maritime organized a seminar "Market opportunities for the maritime industry in the Russian Market ". A solid number of 40 companies took part in the event at Aalesund University College in Ålesund. 

News portal about economics and business in Sunnmøre and Nordfjord districts (Nett.no) took two interviews with participants of the seminar: Rolf Fiskerstrand, Managing Director of Fiskerstrand Holding AS, and Rune Methi, Communications Manager of NRCC. Interviews are in Norwegian.
 
 

Article on oil prices with comments by Chris Weafer

 

We offer to your attention oil price article (from 03.12.2015) with clear and negative ruble implications over the medium term. The article includes comments by Chris Weafer, Senior Partner at Macro-Advisory Ltd in Moscow.

It is considered that Brent will most likely dip below $40 in the coming weeks and be weaker in Q1. That implies the ruble-dollar rate will test the 70 level this month and drop closer to 75 in Q1. Just a year ago, the Organization of the Petroleum Exporting Countries decided to let market forces determine the price of oil, rather than its own production quotas. Please read more in the full version. 

Borenius

Russian Legal Alert "Import substitution of software for public needs" / Новости Российского Законодательства "Импортзамещение программного обеспечения для государственных нужд" 

The Government of the Russian Federation adopted Order No. 1236 (Order) on November 16 in order to launch the state’s import substitution policy, now regarding foreign software. The Order has implemented the rules for forming the Unified Register of Russian Software and Databases. As a general rule, software (databases), which does not meet the requirements established by the law and is not in the Register, is not allowed to participate in public procurement procedures.
 

In particular, according to the Order, foreign software may be purchased for public needs if:

  • The Register has no record of software of the same kind as that required for public procurement.
  • The Register contains data on software of the same kind as that required for public procurement, but the technical characteristics of the software from the Registry do not correspond to the prescribed technical requirements.

Russian Economic Developments - №11 - 2015

11 2015 cover eng

Experts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №11, 2015.

Core themes of the issue: The political and economic news of October 2015 - The Geography of crisis: economy, employment, income - Inflation and monetary policy in Russia in September 2015 - The balance of payments, Russia’s external debt and the exchange rate of the ruble: a fragile equilibrium - Global financial market turbulence: factors and risks - Russia’s financial markets in October 2015 - Russia’s State Budget in January–September 2015 - Russia’s banking sector in September 2015 - Banks: deterioration of assets quality and earnings reduction - The real sector of the Russian economy: factors and trends in January–September 2015 - Oil market amid low prices - Russian industry in September 2015 - Russia’s foreign trade in August 2015 - Foreign trade and production in 2015: change of geography - The agriculture and food: does import substitution take place? - The grain sector in a situation of new export duties, lower prices and high administrative barriers - Mortgage in the Russian Federation in September 2015 - Migration in Russia in January–July 2015 - The dynamic of consumption: a major cut in households’ spending - The stages and guidelines of restructuring of the system of trade mission of the Russian Federation - Economic sanctions and science in Russia - The review of Russian regulatory documents on taxation issues in September–October 2015 - The review of Russia’s economic legislation in October 2015.

Download Russian Economic Developments - №11 - 2015

Macro Russia: November recovery, or just more cold rain?
New issue of Macro Monthly by Macro-Advisory

The latest issue of Macro Monthly, produced by Macro-Advisory, offers analysis of the recent political and economical developments in Russia. Chris Weafer, founding partner of Macro-Advisory, was the invited speaker on the last NRCC Russia breakfast meeting in Oslo in October this year. November issue highlights the following key moments:

Russia gains in World Bank survey. In a rare piece of good news Russia’s ranking in the World Bank’s Ease of Doing Business survey improved to 51 from 64 previously. That was partly because of changes to the survey methodology (expanded) and also because of improvements by Russia in such areas as the cost and time to access electricity supply.
Small macro improvement in September. The macro indicators for September showed tentative improvements, and support the conviction that economic weakness bottomed in July-August. The expectation is that the fourth quarter data, which will start to appear this month, will show further improvement and support optimism for an end to the recession in mid-2016.
Next rate cut depends on inflation. The Central Bank, as expected, did not cut its key rate at the end-October policy meeting. The bank cited concern over the continued high rate of inflation and external threats, such as oil price uncertainty and the consequences of a slowing Chinese economy for global markets.

Norwegian-Russian Business Journal №2, 2015 (in English with Russian summaries)

Cover Business Journal 2 2015

The Norwegian-Russian Business Journal is the member journal for NRCC members, where subjects of relevance to the economic cooperation between Russia and Norway are discussed.  

The newest issue was published in September 2015 and contains articles about activities of NRCC and its member companies, recent developments and updates on Russian and Norwegian markets and news from Norwegian and Russian business communities.

Please download here Business Journal in pdf format.

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