Finances

On 16 December 2016, the Bank of Russia Board of Directors decided to keep the key rate at 10.00% per annum. The Board of Directors notes that the dynamics of inflation and economic activity are overall in line with the forecast and inflation risks have subsided somewhat.

Fujifilm signed the agreement to partner with R-Pharm, a major Russian pharmaceutical company, in pharmaceuticals, medical equipment and regenerative medicine

Novartis bolsters innovative dermatology portfolio through acquisition of Ziarco Group Limited

ADB and the Government of Georgia have signed a $99 million ADB loan to upgrade water supply, sewerage, and sanitation systems for nearly 62,000 households in the secondary towns of Marneuli, Bolnisi, and Chiatura.

Bilateral trade between Asian giants India and China will touch $65 bn for the year ending December 2016, a Chinese diplomat said.

The Supervisory Council of VTB Bank has decided to appoint Mikhail Zadornov and Gennady Soldatenkov as Members of the Management Board.

On December 14, 2016, the Executive Board of the International Monetary Fund (IMF) completed the third review of the Kyrgyz Republic’s economic performance under the three-year Extended Credit Facility (ECF) arrangement.