Russia's unemployment rate dropped to a record low 3.3% in April, data showed on Wednesday, highlighting the labour shortage that is stifling economic growth, while other indicators painted a mixed picture.
Russia's economy grew 3.3% in April in annual terms, the economy ministry estimated on Wednesday, up from a revised 0.7% year-on-year contraction in March. The ministry said the growth reading was in part due to the low base effect of last year.
The Russian rouble firmed back past 81 against the dollar on Wednesday, recovering some losses sustained after drones struck wealthy districts of Moscow, helped by large Russian exporters preparing for dividend payments.
* This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine. By Roman Churikov. Russian designers and brands are helping the retail sector gradually recover from a turbulent 15 months of store closures and slumping demand, with new labels plugging the gap left by foreign rivals and shoppers tentatively returning.
The rouble steadied on Tuesday after slumping to a more than one-month low against the dollar as drones attacked Moscow and the end of support of a favourable tax payment period. Ukraine launched one of its biggest drone attacks on Moscow, according to Russia, whose defence ministry said all were destroyed approaching the city.
The rouble fell to a more than one-month low against the dollar on Tuesday as drones attacked Moscow and the Russian currency lost the support of a favourable tax period. Ukraine launched one of its biggest drone attacks on Moscow, according to Russia, whose defence ministry said all were destroyed approaching the city.
India's state-run Oil and Natural Gas Corp said oil output from the Sakhalin-1 project in Russia has bounced back to its plateau level of about 200,000 barrels per day from zero, according to a company presentation.
Foreign investors who left Russia after selling their businesses there between March 2022 and March 2023 withdrew about $36 billion from the country, the state RIA news agency reported on Monday, citing analysis of data from the Central Bank. Scores of the world's biggest companies have left or scaled back their operations in Russia in response to Moscow's invasion of Ukraine in February 2022.
Only five transactions involving foreign companies selling assets in Russia since October have involved payments to non-residents above $400 million, the Bank of Russia said on Friday, playing down the impact of such deals on financial stability.
Russian President Vladimir Putin said on Friday that it was time for Russian businesses to "reclaim their position" on the domestic market. Putin was speaking at a televised meeting with members of the Business Russia organisation.
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