First Deputy Prime Minister Igor Shuvalov has announced that Russia has again raised its target for revenue from various state asset sales next year to 100 billion rubles ($3.5 billion), more than 10 times the original target. 'The state will keep a so-called golden share in companies it considers important.'  But the move will link in neatly with Dmitry Medvedev's state-of-the-nation call to reorganize state corporations.  It sounds as though Medvedev is looking to Singapore for ideas about technical innovation, remarking during his weekend visit that 'the system of economic and technical education in your country is of great interest for us.'  The media have been responding to Medvedev's suggestion that Russia reduce its time zones to improve business relations. 'If you were to conflate the time zones totally, then obviously you would have some people who ...

The last week of October was a tense time for the bureaucrats at Minprirody, Russia's Ministry for the Protection of the Environment and Natural Resources, and naturally for Minister Yuri Petrovich Trutnev. He went all the way to Cape Town, South Africa to participate in the work of the eighth session of the mixed intergovernmental committee for trade and economic cooperation between the Russian Federation and the Republic of South Africa.

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From there, a mad dash to Namibia, to a meeting with Namibian President H. Pohamba and Prime Minister N. Angula, as well as with first president S. Nujoma and Minister of Mines and Energy E. Nghimtina.

And it wasn't questions

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As many frequent readers of the Russian media would attest, retrieving accurate data pertaining to any sensitive topic can prove difficult.  It is thus reassuring to see that Russia has agreed to hold its census next year, at a cost of 10.5 billion rubles, after initial hesitation due to apparent lack of funds.  Indeed, this commentator suggests that whilst the census may go ahead, it will be 'less comprehensive and less accurate' than many would wish.  Murray Feshbach at RFE/RL argues that a census would allow the country to seriously tackle the issues of demographic decline, its manifest HIV and TB problems, and form policies on how to accommodate its ethnic and religious minorities.  Feshbach suggests census-phobia is ...

It's been less than a week since valiant Russian human rights groups Memorial won Europe's llustrious human rights award, the Sakharov Prize, but it seems that Chechen President Ramzan Kadyrov is determined to pull the plug on any celebrations. Kadyrov won a civil libel suit against the organization's Chairman Oleg Orlov earlier this month, regarding the activist's public affirmation that the Chechen leader was responsible for the murder of fellow Memorial representative Natalya Estemirova in July.  Kadyrov has now opened a criminal libel suit against Orlov, which carries a prison sentence of up to three or four years. This from the AP: The case stems from Orlov's statement in July that Chechen President ...

Pandora’s Box of rate hikes is opened! Is the dollar being removed from oil trades? Deficits do matter, eh? Gold heads toward its all-time high…And Now… Today’s Pfennig!

Good day… And a Terrific Tuesday to you! A Tuesday morning that is seeing a HUGE currency rally VS the dollar on the news that the Reserve Bank of Australia (RBA) opted to go ahead and hike rates now, and not wait for November’s meeting,

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The dollar remains well bid…G-7 to hand currencies off to G-20? Car Sales collapse…Auditing the Lehman cash movements…And Now… Today’s Pfennig!

Good day… And a Happy Friday to one and all! Yesterday, I welcomed you to October. I had been prepared to tell you about a famous radio station here in St. Louis, that has long called October… Rocktober… But forgot, as usual! But anyway… It’s the first Fantastico Friday of Rocktober!

Today is a Jobs Jamboree Friday too! And… I’m not getting a good feeling about today’s labor report at the Jobs Jamboree. The forecast is for jobs losses to fall from -216,000 to -175,000, but the unemployment rate to tick up to 9.8% from 9.7%… I got the feeling, baby, baby, I got the feeling… Oops, a little James Brown on Fantastico Friday never hurts! But what I was saying was I’m getting the feeling that there are risks

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Currencies rebound VS the dollar…Aussie and kiwi lead the currencies higher…Data and Central Bank speeches today…Gold rebounds back to $1,000! And Now… Today’s Pfennig!

Good day… And a Wonderful Wednesday to you… Instead of a “turn around Tuesday”, we’re seeing a whiplash Wednesday! And for once in a month of Sundays, the Big Dog, euro didn’t lead the other little dogs (currencies) off the porch to chase the dollar down the street!

No… This time it was the currencies of Australia and New Zealand that led the charge VS the dollar… The euro has taken up the charge since opening the doors to a new day of trading in Europe, so… It looks like it’s a “take the dollar to the woodshed day”…

OK… Let’s start first with the goings on yesterday and then build to a big crescendo! Yeah, right, like I can do that! HA! Any way…

As a reminder, yesterday we

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A bias to buy dollars remains…Looks like coordinated jawboning…Fujii now talks about intervening! Gold remains below $1,000…And Now… Today’s Pfennig!

Good day… And a Terrific Tuesday to you! Well… Stop the presses… You know the presses that are talking about the countries that are on the docket to begin a rate hike cycle, because… Russia has thrown a cat among the pigeons this morning with a rate CUT… Let me tell you why this is a big deal…

Well, when everyone is thinking that the G0-GO countries of Norway, Australia, and Brazil will probably begin their rate hike cycles this year, and other won’t be far behind… While the U.S. drags its feet and wallows in the zero rate mud… The thinking was that the rate differentials to the dollar would begin to widen, causing even more pain for the dollar. And, the reason these countries were able to raise rates

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Dollar’s rally is cut short…Major problems for loans still exist…Yen rallies on exporter repatriation…Kiwi gets whacked! And Now… Today’s Pfennig!

Good day… And a Happy Friday to one and all! It’s still raining here in St. Louis this morning, but I won’t that get me down, as it is a Friday! G-20 has gotten a bit ugly, folks… Seems everyone just can’t seem to get along! Imagine that! 20 different countries, and now they want to be able to watch another country’s finances and comment on them! Oh, I can see that working out real well! NOT!

So… Yesterday, we had the dollar gaining back the ground that it had lost the previous day, but at the end of the day, we’re looking very much like the currencies hadn’t moved from morning to morning… And overnight, didn’t bring about much movement… So… When you get to the currency round-up below, you’ll

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A Wild and Wacky Wednesday…FOMC leave stimulus and QE in place…Will G-20 try to throw cold water on commodities? GATA receives a letter from the Fed…And Now… Today’s Pfennig

Good day… And a Thunderin’ Thursday to you! It’s Thundering and raining here, so I felt that naming today a “Thunderin’ Thursday” was bang on! We had a wild and wacky Wednesday yesterday, with the Fed Heads playing the part of the court jester… And… I want to know, right here, right now, why the media isn’t blasting Fed Head Honcho Big Ben Bernanke! I’ll tell you why they should be, in a minute…

OK… As I said, we had a wild and wacky Wednesday yesterday, as

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