Word: rublee
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The political vacuum only compounds the financial crisis: While the government is no longer making any effort to defend the plummeting ruble and frenzied bankers go after dollars to protect their personal fortunes, Chernomyrdin looks set to simply ban trading in foreign currencies. The reinstated prime minister hopes to straddle...
So, are stocks cheap yet? Clearly, they're cheaper than they were two weeks ago. But are they Russian-ruble cheap? So ugly that they scare the dog? The answer depends largely on whether you believe that interest rates will fall further and corporate earnings will hold up in the...
Although Yeltsin told the country Chernomyrdin's appointment was supposed to "maintain stability," its effect may be the opposite: The prime minister wants to reverse last week's ruble devaluation package and is expected to drop Anatoly Chubais from his cabinet -- one of the few Russian politicians to enjoy any...
MOSCOW: What's Boris Yeltsin so mad about? TIME Moscow Bureau Chief Paul Quinn-Judge says the Russian president's tirade over U.S. missile strikes is equal parts bluster, envy and a little dog-wagging of his own. "On one level, he feels personally slighted about being out of the...
If your guest has egg on his face, what's the polite thing to do? Splash some on your own -- which may be Boris Yeltsin's thinking as he awaits President Clinton's September 1 visit. Russia's leader returned to his month-long vacation Tuesday, while his country reeled...