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.

Article in Stavanger Aftenblad: "The sanctions could hit back hard"

Gunnar Myhr, Managing Partner from International Energy Consortium AS, has written an article for Stavanger Aftenblad (05.11.2015 issue) where he discusses Norway's relations with Russia in High North region. Gunnar argues that Norway's support for sanctions against Russia puts vital future polar oil and gas resources at stake. It may seem as if Norway has ambitions to be diligent in the sanction class. "Are we about to make a historic mistake towards Russia?" - asks Gunnar in his article. 

"Norway will have to cooperate with Russia in the Barents Sea, where oil and gas fields located on both sides of the border. Then Government sanctions against President Putin unfortunate".

Read full article in Norwegian from Stavanger Aftenblad


Networking meeting in Oslo, 3 November 2015

On 3 November, the NRCC Networking Meeting took place in Oslo, in the facilities of NRCC member company Technip Norge AS in Lysaker.

About 55 participants took part in the meeting

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Igor Kopsov, region manager from Technip Norge AS, is presenting the subsea equipment models and samples to participants in the meeting

Russian Economic Developments - №10 - 2015

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Experts of Gaidar Institute for Economic Policy present a survey "Russian Economic Developments" №10, 2015.

Core themes of the issue: The political and economic events of September 2015 - The forecast of main macroeconomic indices - 2015-2016 - Inflation and monetary policy in August 2015 - Russia’s financial markets in August-September 2015 - Russia’s real sector of the economy in July-August 2015: factors and trends - Russia’s extracting sector in July-August 2015 - Russian industry in August 2015 - Russia’s Foreign Trade in July-August 2015 - Russia’s State Budget in January-August 2015 - Russia’s Regional Budgets in July-August 2015 - Russia’s Banking Sector in August 2015 - Living standards in Russia in August 2015 - Mortgage in the Russian Federation in H1 2015 - The review of meetings of the RF Government of the Russian Federation in September 2015 - The review of economic legislation - The review of regulatory documents on taxation issues in August-September 2015 - Change in Russian regulatory base of the budget process in August 2015 - Import substitution policy and the competitiveness of the Russian Economy.

Download Russian Economic Developments - №10 - 2015

NRCC Business Mission to Kaliningrad and Kaliningrad region - 19-21 October 2015

On 19-21 of October, Norwegian-Russian Chamber of Commerce organized business mission to Kaliningrad and Kaliningrad region in cooperation with the Kaliningrad Chamber of Commerce and Industry. The mission was headed by Jarle Forbord, managing director of the NRCC, and the participants were representatives of NRCC member companies and other Norwegian companies and organizations: Royal Embassy of Norway in the Russian Federation, Innovation Norway, DNV GL, Thrane (mining), Lyng AS (aquaculture&shipbuilding), Sundnes Projects AS (International Consulting), Ølen Betong (construction industry), Nordic Group (delivery of stone to the construction of the new football stadium for FIFA World CUP in Russia), HAV Shipping (shipping/crew), VSM (ships crew), Green Reefers ASA, University of Nordland (UiN).

Kaliningrad CCI introduced to participants business opportunities in the Kaliningrad region in general. B2B meetings and company visits were arranged with 25 companies within some of the most important industries in Kaliningrad for Norwegian businesses, such as the Aquaculture, Maritime shipbuilding, Mining, Education within Ships repair and aquaculture, door to door logistic chains, fisheries cooperation, export and import of product within different sectors. Among visited potential partners of future cooperation were Pregolia Shipyard, Kalinigrad State Maritime Fishport, Kaliningrad Amber Plant, and others.

All Norwegian and Russian representatives met later for the Business Reception and networking.

NRCC is very pleased with the professional support from Kaliningrad Chamber of Commerce and Industry.

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Aleksey Zinoviev, President of the Kaliningrad CCI, and Jarle Forbord, Managing Director of the NRCC

Russia breakfast meeting with Chris Weafer was held on 15 October

Norwegian-Russian Chamber of Commerce (NRCC) and Confederation of Norwegian Enterprise (NHO) had a pleasure to invite their memebrs to Russia Breakfast Meeting with Mr. Christopher Weafer at NHO facilities. Topic of the meeting was "Russian Economy: Status and Perspectives" where Mr. Weafer held presentation “How is the crisis changing the business and investment climate?”.

Mr. Christopher Weafer is the founding partner of Macro-Advisory Ltd, an independent macro consultancy which provides macro economic, political and business trend advice for business managers and investors working in Russia, the Eurasian Union and across the broader Eurasia region. Christopher has worked in Russia and the CIS for more than seventeen years. Most recently he was voted the best investment strategist for 2013/’14 by investors in separate polls carried out by Thomson Reuters Extel and Institutional Investor magazine. He has regularly placed in the top three of these respective polls over the past ten years. 

We take this opportunity to thank those of you participated in the meeting for your valuable support, questions and all interactive communication.

NRCC administration.  


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Chris Weafer, Jarle Forbord (NRCC) and the host Katarina Sætersdal (NHO)      


The aim of the NRCC is to stimulate and improve business relations between Norwegian and Russian companies regarding import, export, shipping, business development, tourism or investment activities. More...


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