Category: Russian to English

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Kazakhstan's GDP growth in January-July 2025 amounted to 6.3 percent.

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

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Source: People's Republic of China – State Council News

Almaty, Aug. 12 (Xinhua) — According to preliminary data from the National Statistics Bureau of the Republic of Kazakhstan, the country's gross domestic product for January-July 2025 grew by 6.3 percent compared to the same period in 2024, the press service of the country's Ministry of National Economy reported on Tuesday.

Over 7 months, production of goods increased by 8.3%, industry by 6.9%, and production of services by 5.2%; positive dynamics were recorded in the transport and trade segments.

The largest contribution to GDP growth was made by the transport and warehousing sectors /growth by 22.5 percent/, construction /18.5 percent/, wholesale and retail trade /8.6 percent/, mining /8.5 percent/ and manufacturing /6.1 percent/ –0–

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Armenian Prime Minister and European Council President Discuss Agreements Reached in Washington and Armenia-EU Agenda

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

Yerevan, Aug. 12 (Xinhua) — Armenian Prime Minister Nikol Pashinyan held a telephone conversation with European Council President Antonio Costa on Tuesday, during which the sides discussed the results of the agreements reached following the recent talks between the leaders of Armenia, Azerbaijan and the United States in Washington, the press service of the head of the Armenian government reported.

N. Pashinyan told A. Koshta about such points of the agreements as the initialing of the Agreement on the Establishment of Peace and Interstate Relations between Armenia and Azerbaijan, the joint appeal of these two countries to the Organization for Security and Cooperation in Europe (OSCE) on the dissolution of the OSCE Minsk Group mechanisms, the unblocking of regional communications within the framework of the principles of territorial integrity, sovereignty and jurisdiction of countries and on the basis of reciprocity, as well as the “Trump Route for International Peace and Prosperity” project.

The Armenian Prime Minister stressed that the established peace opens up new investment opportunities for expanding cooperation between Armenia and the EU.

In addition, N. Pashinyan and A. Costa discussed the Armenia-EU agenda, as well as organizational issues of preparation for the summit of the European Political Community, which will be held in Yerevan in the spring of 2026. –0–

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V. Putin and Kim Jong-un confirmed their commitment to strengthening cooperation during a telephone conversation

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

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Source: People's Republic of China – State Council News

Moscow, Aug. 12 (Xinhua) — Russian President Vladimir Putin and Supreme Leader of the Democratic People's Republic of Korea (DPRK) Kim Jong-un held a telephone conversation during which they reaffirmed their commitment to further developing relations of friendship, good-neighborliness and cooperation between the two countries, the Kremlin press service reported on Tuesday.

“Both sides confirmed their commitment to the further development of relations of friendship, good-neighborliness and cooperation in all areas in line with the Treaty on Comprehensive Strategic Partnership between Russia and the DPRK concluded in Pyongyang on June 19, 2024,” the statement said.

During the conversation, V. Putin congratulated Kim Jong-un on the upcoming national holiday, which is celebrated on August 15 as the 80th anniversary of Korea’s liberation from Japanese colonial rule.

Kim Jong-un, for his part, emphasized that the DPRK considers this holiday to be a common one and remembers the role of the Red Army in the fight against the invaders, the report states.

The Russian President highly praised the support provided by Pyongyang during the liberation of the Kursk region, as well as the courage, heroism and dedication shown by the DPRK military personnel.

In addition, the Russian leader shared information with Kim Jong-un in the context of upcoming talks with US President Donald Trump. The leaders of the two states agreed on further personal contacts. –0–

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In Uzbekistan, the share of the shadow economy has decreased to 35 percent.

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

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Source: People's Republic of China – State Council News

Tashkent, Aug. 12 (Xinhua) — The share of the shadow economy in Uzbekistan has dropped to 35 percent, the head of state's press service said in a statement on Tuesday.

“On August 11, President Shavkat Mirziyoyev familiarized himself with a presentation on improving the system of combating the shadow economy,” the statement said.

During the presentation, it was noted that the share of the shadow economy had decreased from 45-50 percent in 2019 to the current 35 percent, and it was also noted that this share needs to be reduced further.

As reported, the participants of the event discussed priority tasks in this area and noted that the most effective way to combat the shadow economy is the introduction of modern technological and innovative approaches.

"The development of electronic payments creates convenience for the population and businesses, and is also an effective tool for reducing the shadow economy. In this regard, it is important to stimulate non-cash payments and increase the number of payment organizations," the report says. -0-

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Iranian and Armenian Foreign Ministers Discuss Peace Agreement Between Armenia and Azerbaijan

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

TEHRAN, Aug. 12 (Xinhua) — Iranian Foreign Minister Abbas Araghchi and his Armenian counterpart Ararat Mirzoyan exchanged views on the recent peace deal between Armenia and Azerbaijan, the Iranian Foreign Ministry said in a statement on Tuesday.

The statement noted that during a telephone conversation on Monday, the parties discussed issues of bilateral relations, as well as the latest events in the South Caucasus.

A. Araghchi welcomed the signing of the peace agreement between Azerbaijan and Armenia in Washington on August 8, noting a number of Iran's concerns regarding transport routes and unblocking transit networks in the region.

He drew attention to the clause in the agreement, according to which the United States receives exclusive rights to create and develop a large transit corridor through southern Armenia, which will directly connect Azerbaijan with its exclave, the Nakhchivan Autonomous Republic, and further with Turkey. The Iranian Foreign Minister stressed that this corridor should not lead to any geopolitical changes in the region or disrupt Iran's access to other transit routes.

A. Araghchi stressed that when making any decisions, it is necessary to respect the national sovereignty and territorial integrity of states. He added that any agreement should take into account issues of stability and security in the region and neighboring countries.

The Armenian Foreign Minister, for his part, stated that his country views Iran as a friend and neighbor, emphasizing that Yerevan attaches priority importance to maintaining friendly relations with Tehran, “based on the principle of good neighborliness” and the mutual interests of both sides.

A. Mirzoyan informed the Iranian Foreign Minister about the details of the peace agreement, the agreements on unblocking regional transport routes, as well as the upcoming steps to implement the relevant agreements. He assured that Armenia will take into account regional peace and stability, as well as common interests, when making any decisions regarding transport routes.

Armenia and Azerbaijan have been at odds over Nagorno-Karabakh since 1988 and have been holding peace talks since 1994, when a ceasefire was agreed upon despite periodic clashes.

On August 8, the two leaders witnessed the initialing of a peace agreement at the White House, ending a decades-long border conflict. Steps are now needed to finally sign and ratify the agreement. –0–

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At least 49 Palestinians killed in Israeli airstrikes in Gaza – Civil Defense

Translation. Region: Russian Federal

Source: People's Republic of China in Russian – People's Republic of China in Russian –

An important disclaimer is at the bottom of this article.

Source: People's Republic of China – State Council News

GAZA, Aug. 12 (Xinhua) — At least 49 Palestinians were killed in Israeli air strikes on various parts of the Gaza Strip on Tuesday, Palestinian Civil Defense spokesman Mahmoud Bazal said on the same day.

Israeli forces have been conducting heavy air strikes on Gaza City for three days now, Bazal told Xinhua. On Tuesday, an airstrike hit the Zeitoun neighborhood in the south of the city, killing at least 32 people. The official also said that Israeli forces have shelled areas such as Khan Yunis in the southern Gaza Strip, which also caused casualties.

The IDF issued a statement the same day saying it was continuing its military operations against armed groups in the Gaza Strip.

At least 10,078 people have been killed and 42,047 wounded since Israel resumed military operations in the Palestinian enclave on March 18, according to figures released by Gaza's health authority on Tuesday. –0–

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The government has allocated about 52 billion rubles for state support for the formation of long-term savings of citizens

Translation. Region: Russian Federal

Source: Government of the Russian Federation – Government of the Russian Federation –

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About 52 billion rubles will be allocated for state support for the formation of long-term savings of citizens in 2025. The order on this was signed by Prime Minister Mikhail Mishustin.

The funds will go to non-state pension funds that carry out activities to form long-term savings for citizens.

The long-term savings program for citizens was launched in 2024 on the instructions of the President of Russia. The program will give people the opportunity to receive additional income in the future. A person can enter into an agreement with a non-state pension fund, transfer contributions to it, and also transfer previously accumulated pension savings for further investment. The state will co-finance these funds for 10 years, that is, add up to 36 thousand rubles per year. Savings will be protected. The guarantee system is the same as when opening deposits, but the insurance amount is twice as large – 2.8 million rubles.

Savings can be used as additional income after 15 years of participation in the program or upon reaching the age of 55 for women and 60 for men. The funds can be withdrawn at any time, but early withdrawal without loss of income is possible in the event of special life situations – for expensive treatment or the loss of a breadwinner.

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From Mikhail Mishustin's opening remarks at the Government meeting, August 12, 2025

The issue of allocating funding for state support for the formation of long-term savings in 2025 was considered atGovernment meeting on August 12According to Mikhail Mishustin, the first results show that the instrument is of great interest to citizens – many are transferring their pension savings to the program.

“We expect that thanks to such a partnership, citizens will be able to increase their capital by receiving additional income,” said the head of the Cabinet.

The document will be published.

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The new generation of turnstiles was presented at the exhibition “That Same Moscow” in the Manege.

Translation. Region: Russian Federal

Maxim Liksutov said that the updated turnstiles will appear in the metro this year. Thanks to the narrow pillars, they will increase the capacity of stations by 40%.

The new turnstiles are equipped with:

🔹 Light indication of payment status. Color backlighting will immediately show whether the transaction was successful.

🔹 Vibration feedback for the visually impaired. A tactile signal will help you understand whether the passage is open, without the need for visual control.

🔹 Possibility of passage from 2 sides. Turnstiles can work both for entry and exit, which is especially convenient at stations with high passenger flow.

🔹 Convenient validation zone for digital payment methods. Readers are positioned to instantly recognize the virtual Troika, SBP and other contactless payment methods.

"By 2031, more than 4.5 thousand new-generation turnstiles will appear at metro stations, the Moscow Central Circle and the Moscow Central Diameters. The response speed of each will increase due to more modern equipment and the use of new Russian microelectronics made in Zelenograd. This will ensure fast and convenient passage for everyone, including passengers with limited mobility and visually impaired. On the instructions of Moscow Mayor Sergei Sobyanin, we will continue to improve the payment infrastructure in the capital's transport," added Maxim Liksutov.

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Financial News: Monetary Conditions Indicators Remained Tight in June-July

Translation. Region: Russian Federal

Source: Central Bank of Russia –

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Nominal interest rates declined significantly, while the decline in yields in real terms was less pronounced due to the slowdown in current price growth. Inflation expectations of the population changed unevenly and remained elevated.

The reduction in rates in June affected almost all segments of the credit and deposit market. Bank lending conditions remained tough. Against this background, the growth of credit to the economy and the money supply was restrained. In July, according to preliminary data, the same trends were maintained in the dynamics of rates and credit activity.

Read more in the information and analytical section comments "Monetary conditions and the transmission mechanism of monetary policy."

Preview photo: Lidiia | Shutterstock | Fotodom

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Financial news: National standard of short-term liquidity for SZKO: calculation procedure

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

The Bank of Russia has sent the Ministry of Justice for registration document, which determines the procedure for calculating the national short-term liquidity ratio for systemically important credit institutions. The NSLR will replace the Basel NSLR, which has been in effect since 2016. The new standard reflects the Russian specifics of regulation: it is calibrated based on data from domestic banks, and the composition of highly liquid assets (HLA) is determined taking into account assets circulating on the domestic market.

Among the clarifications in the methodology, there are restrictions on investments in securities to reduce the risks of asset concentration in VLA: they will be considered VLA only if the bank has no more than 30% of the issue, while the transition to this requirement will be gradual – until the end of 2027. A norm has also been added that does not allow an increase in the value of the liquidity ratio due to nostro accounts, which in reality have no turnover. In addition, the outflow rates for the Federal Treasury (after the end of the transition period from January 1, 2027, the ratio will be 45%) and individuals have been slightly reduced.

The NNCL is planned to come into force on 1 October 2025. To ensure a smooth transition, the minimum value of the new standard will be 80% in 2025, and 100% from 1 January 2026. The transition to the new standard should not cause any problems for banks: the NNCL calculation methodology gives banks an average increase of more than 25 percentage points relative to the current Basel NCL. From 1 July 2025, banks will already provide a volume of liquidity sufficient to maintain the Basel NCL without the help of an irrevocable credit line (ICL) at 60%, and by 1 January 2026 they should have increased their liquidity to maintain the Basel NCL without the ICL at a level of at least 80%.

The compliance regime for the NNCL will be flexible. SZKOs will still be able to use the BCL, but in a modified form. Banks must comply with liquidity requirements on their own, so the BCL will only cover a small volatility of the standard – it is planned that no more than 20 percentage points. The relevant orders of the Bank of Russia, establishing the parameters of the updated BCL, will be presented to the market after preparation.

A new reporting form for the Basel NCR has also been developed and discussed with banks, which is planned to be introduced in January 2026 (changes are made to Bank of Russia Instruction No. 6406-U). Until the changes are made, credit institutions will submit data on the new standard to the Bank of Russia in the reporting forms for the Basel NCR.

Preview photo: Andrii Yalanskyi / Shutterstock / Fotodom

Please note: This information is raw content obtained directly from the source of the information. It is an accurate report of what the source claims and does not necessarily reflect the position of MIL-OSI or its clients.