trending Market Intelligence /marketintelligence/en/news-insights/trending/zcngux6rieyq6euuybfi7q2 content
BY CONTINUING TO USE THIS SITE, YOU ARE AGREEING TO OUR USE OF COOKIES. REVIEW OUR
PRIVACY & COOKIE NOTICE
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *

* Required

In this list

VEB lowers 2016 loss forecast

State Of Singapore Online Video Subscription

Power Forecast Briefing: Capacity Shortfalls to Test the Renewable Energy Transition

Episode 43 - More Change, M&A On Horizon For Equity Research Industry

Cable Nets Struggle With Little Revenue Growth Expanding Programming Budgets


VEB lowers 2016 loss forecast

Vnesheconombank's 2016 net loss will amount to about 130 billion rubles under Russian accounting standards, less than the previously expected loss of 200 billion rubles, Prime reported Dec. 26, citing VEB's head, Sergey Gorkov.

The sale of Gazprom American depositary receipts earlier in 2016 contributed 118 billion rubles to VEB's overall loss because they were divested below their purchasing price.

VEB's net loss for the first nine months of 2016, under Russian accounting standards, amounted to 153.7 billion rubles, up 3.3x compared with the same period last year. The IFRS net loss for the first nine months was 86.2 billion rubles, down from the year-ago loss of 133 billion rubles.

Gorkov also said VEB could complete the sale of its retail leasing business in Ukraine by the end of 2016, according to a separate Prime report.

As of Dec. 26, US$1 was equivalent to 61.01 Russian rubles.