Delta Bank in Ukraine where MBT held $1.4UAH (Ukrainian Hryvnia) or $60 million U.S. dollars in cash and deposits at the end 2014 has declared insolvency.
While I’m not surprised to see the weekend press dominated by the impact of sanctions on Russian macro, I have been pretty clear in saying the Russian economy was headed for flat to slightly higher (+0.5%) GDP growth in 2014 unless the world economy demanded much greater from the commodity space.
While the rest of Europe dozes, Russian politics always seems to come to life in August. The classic example is the attempted coup and citizens’ revolt that brought an end to Communism in August 1991.
For better or worse, the economy of Russia is tied to its huge reserves of natural resources. But Russia also has some important technology stocks. Here are four you need to know.