Contents tagged with China
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Belarusian government faces problems with $600 million loan from Russia
Belarus has had problems arranging a $600 million government loan from Russia, said Belarusian Finance Minister Maxim Yermolovich, as cited by BelTA.
The finance minister explained that Minsk had planned to repay its foreign debts this year using a $600 million loan from the Russian government, a $200 million tranche from the Eurasian Stabilization and Development Fund, a $700 million budget surplus, and funds borrowed on the internal market.
“In principle, it was enough to completely close …
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Russia offers China operating system for Huawei
Russian officials have suggested that the Chinese cellphone company Huawei replace Google’s Android OS with the Aurora OS developed in Russia, reports the Bell citing two informed sources.
The idea was brought up shortly before the start of the St. Petersburg International Economic Forum in a meeting between Huawei Chief Executive Director Guo Ping and Russian Minister of Digital Development and Communications Konstantin Noskov, and was later discussed at meetings between Vladimir Putin and Xi …
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China requests more than 50,000 hectares for soy plantations in Russia’s Primorsky Krai
The Chinese company Joyvio Beidahuang Agricultural Holdings wants to grow soy in Russia’s Primorsky Krai, announced Alexei Chekunkov, director of Russia’s Far East Development Fund.
JBA is a joint enterprise between Legend Holdings Joyvio Group and the Chinese state-owned Jiusan Grain and Oil Industry Group, and is interested in using Russian land for soy plantations.
The Chinese investors have already registered a Russian subsidiary, LegendAgro Holdings, which has leased 3,500 hectares in …
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Huawei to develop a 5G network in Russia
The Chinese company Huawei and Russian largest mobile operator MTS signed an agreement on the development of 5G technologies and pilot launches of fifth-generation communication networks in Russia in 2019-2020, reports RBC news agency with a reference to a press-service of MTS.
The agreement was concluded in the Kremlin in the presence of Russian President Vladimir Putin and Chinese President Xi Jinping.
Two companies plan to introduce 5G and IoT (Internet of Things) technologies and …
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Chinese investors flee Russia
China is continuing to reduce its investments in Russia, despite Russian officials’ attempts to bring the country’s economic policy back to the East, finanz.ru reports.
By the end of 2018, China’s total direct investments in Russia had fallen by 24%, from $3.59 billion to $2.62 billion, according to statistics published by the Bank of Russia on 30 May.
Over the year, Chinese investors withdrew another $969 million from the real sector of the economy. 80% of this amount, $774 million, resulted …
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China to test a new batch of Russian S-400 missile systems
After the destruction of Russian S-400 missiles that were damaged during transportation, China will test the new weapons that were delivered instead of them.
TASS reported, citing its military-diplomatic source, that the test launches of the S-400 Triumph missiles will be made at one of the Chinese testing ranges in early June. It is planned to launch two rockets at ballistic and aerodynamic targets as in the previous year.
Earlier, the CEO of the Russian State Corporation Rostec Sergey …
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Russia summons Spanish ambassador over ‘old enemy’ remark
Spanish Ambassador to Moscow Fernando Valderrama has been summoned to the Russian Foreign Ministry over a comment made by acting Spanish Foreign Minister Josep Borrell.
In an interview with El Periodico, Borrell mentioned Russia only once, while talking about changes in the world. “A lot has changed. Our ally (the US) is turning its back on us. Our old enemy, Russia, is once again asserting itself and posing a threat, and China is becoming a rival,” he said, adding that in such a situation …
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Russia considers adopting cryptocurrency to bypass sanctions
Venezuela’s example of trying to bypass US sanctions using its own national cryptocurrency, the “petro”, has proved to be contagious.
The Russian government is now prepared to consider creating a national gold-backed cryptocurrency, said Elvira Nabiullina, head of the Central Bank of Russia, during a meeting of several parliamentary committees, reports finanz.ru.
Such a cryptocurrency is needed for BRICS countries to make payments on arms contracts, explained Vladimir Gutenyov, First Deputy …
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Russia’s largest petrochemical project declared unprofitable
The Russian oil company Rosneft has abandoned its plans to invest in the Eastern Petrochemical Complex (EPC) in the Far East, the company’s first vice president Pavel Federov said in a conference call, finanz.ru reports.
The $12 billion project, which was meant to be built in Primorsky Krai and become Russia’s largest petrochemicals cluster, was found to be unprofitable.
The complex, which was expected to include oil refineries with a total annual capacity of 12 million tons and 3.4 million …
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Kremlin: China is interested in increasing gas supplies from Russia
The Chairman of the Management Committee of Russian energy company Gazprom, Alexey Miller, on the air of the program “Moscow. Kremlin. Putin " said that Gazprom’s Chinese partners from the state-owned oil and gas company the China National Petroleum Corporation (CNPC) show great interest in increasing the supplies beyond the volume agreed in the thirty-year contract, reports news agency TASS.
The current contract for the supply of Russian gas to China through the Power of Siberia pipeline, …