Category: Translation

Posted on

The Central Banks of Georgia and the Republic of Korea have launched a joint project to develop non-cash payments

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

Tbilisi, July 16 (Xinhua) — The central banks of Georgia and the Republic of Korea (ROK) have officially launched a joint project to develop non-cash payments aimed at modernizing the payment infrastructure and expanding financial inclusion in Georgia, the National Bank of Georgia reported on Tuesday.

A delegation from the Central Bank of Kazakhstan and the Korea Institute of Financial Telecommunications and Clearing /KFTC/ recently visited Georgia on a working visit. During the visit, a cooperation agreement was signed, which provides for the launch of the above-mentioned project.

The parties expressed confidence that cooperation will make a significant contribution to the development of a modern and inclusive payment system, as well as strengthen economic ties between the two countries. –0–

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.

.

Posted on

Ministry of Economic Development: SEZs have become points of growth and concentration of high technologies.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

On July 15, the Federation Council held a round table on the topic of "Development of special economic zones of the technology-implementation type as a driver of innovation." The event was organized by the Committee on Economic Policy with the participation of Senator Vladimir Kravchenko. The discussion was attended by Deputy Minister of Economic Development of the Russian Federation Svyatoslav Sorokin, representatives of the Ministry of Industry and Trade, heads of special economic zones (SEZ) of the technology-implementation type, as well as industry experts.

Today, there are seven special economic zones of the technology implementation type operating in Russia. Despite their small number, they demonstrate impressive results from year to year, promoting the development of high-tech production and innovative infrastructure. They include: SEZ Technopolis Moscow (Moscow), Saint Petersburg (Saint Petersburg), Dubna (Moscow Region), Tomsk (Tomsk Region), Innopolis (Republic of Tatarstan), Istok (Fryazino, Moscow Region), and Saratov (Saratov, Saratov Region).

In his report, Svyatoslav Sorokin noted the importance of technology implementation zones in the formation of non-resource growth of the economy and the technological sovereignty of the country.

"Today we see that, despite the fact that there are only seven technology-implementation SEZs, they generate almost half of all revenue and jobs created in the SEZ territory. This speaks to the high efficiency of this format and its key role in the development of high-tech production," the deputy minister emphasized.

Today, there are more than 570 residents registered in the TVT SEZ, 32 of which have foreign capital. The total revenue of residents exceeds 1.75 trillion rubles (43% of the total revenue for all SEZs), and the volume of investments amounted to more than 764 billion rubles. Thanks to the activities of these zones, more than 50 thousand highly paid jobs have been created.

"Residents of technology-implementation SEZs today produce unique IT solutions, medical products, and products for the aviation and space industries. These are real growth points and architects of the innovative economy," noted Svyatoslav Sorokin.

The roundtable participants discussed proposals for fine-tuning the SEZ mechanism, aimed at increasing their efficiency and investment attractiveness. The Ministry of Economic Development will work on initiatives from the constituent entities of the Russian Federation to adjust the methodology for assessing the efficiency of special economic zones, providing for increased attention to the development of technologies and the introduction of innovations. The new approach will be implemented taking into account the emphasis on technology implementation processes that ensure the implementation of the strategic goals of the national economy – structural adaptation of industries and the achievement of technological sovereignty of the country. These measures are aimed at increasing the competitiveness of Russian enterprises, accelerating scientific and technological progress and ensuring the sustainability of economic growth in the context of global competition.

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.

Posted on

Financial news: Average daily turnover of the interbank loan (deposit) market and repo transactions

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

In connection with the entry into force of the Bank of Russia Instruction of May 28, 2003 No. 1283-U “On the procedure for establishing by the Bank of Russia official prices for refined precious metals”, from July 7, 2003 the Bank of Russia introduced the following procedure for establishing official prices for refined precious metals (gold, silver, platinum and palladium).

Every working day, the Bank of Russia calculates official prices based on the fixing values for gold, silver, platinum and palladium on the London spot metal market in effect at the time of calculation, and converts them into rubles at the official exchange rate of the US dollar to the Russian ruble in effect on the day following the day the official prices were established.

Book prices are used for accounting purposes in credit organizations.

anizations, starting from the calendar day following the day of their establishment, and are valid until the new values of the accounting prices come into force.

By Bank of Russia Instruction No. 1284-U of 28 May 2003 "On the Recognition of Certain Regulatory Acts of the Bank of Russia as Invalid", the Bank of Russia Instruction No. 652-U of 30 September 1999 "On the Procedure for Calculating Quotations for the Purchase and Sale of Refined Precious Metals by the Bank of Russia in Transactions with Credit Institutions" (with amendments and additions), which determined the procedure for establishing prices for transactions for the purchase and sale of precious metals by the Bank of Russia on the domestic market, was cancelled.

Transactions for the purchase and sale of refined precious metals by the Bank of Russia on the domestic market will be concluded on market terms at prices that take into account the current situation on the world market and the level of risks of the Bank of Russia associated with fluctuations in world prices for refined precious metals.

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.

Posted on

Alexander Novak held a meeting on the implementation of the national project "Efficient and Competitive Economy"

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

Deputy Prime Minister Alexander Novak held a meeting on the implementation of the national project "Efficient and Competitive Economy".

It was attended by representatives of federal and regional authorities, the Federal Assembly, the Bank of Russia, public business associations, the state corporation VEB.RF and the Moscow Exchange.

Representatives of the Ministry of Finance and the Ministry of Economic Development reported on the current status of the implementation of the federal projects “Development of the financial market” and “Increasing investment activity”, respectively, which are part of the national project.

The Ministry of Finance is conducting an information campaign to raise awareness among citizens about the possibilities of investing in long-term instruments. This will increase the number of users of long-term savings programs with state support.

The agency also continues to work to reduce administrative barriers to attract foreign investors willing to invest in the Russian economy.

The President set a goal to increase the volume of investment in fixed assets by 60% by 2030 compared to 2020 parameters, as well as to improve the investment climate. A representative of the Ministry of Economic Development reported that dozens of projects in the field of private-public partnership and in the field of technological sovereignty are already being implemented with the support of the state and the active participation of businesses. 40 major investment projects are being implemented within the framework of the project financing factory. The process of concluding new agreements on the promotion and protection of capital continues, investors are actively using the federal tax deduction.

The Deputy Prime Minister instructed the Ministry of Economic Development and the Ministry of Finance, together with industry business associations and investment banks, to continue working to achieve the key indicators of the national project “Efficient and Competitive Economy” and the federal projects included in it in a timely manner.

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.

Posted on

The State Duma approved in the first reading the bill on investment programs in the housing and communal services sector.

Translation. Region: Russian Federal

Source: Ministry of Economic Development (Russia) – Ministry of Economic Development (Russia) –

An important disclaimer is at the bottom of this article.

At a meeting on Tuesday, July 15, State Duma deputies supported in the first reading a systemic bill that will help increase investment in the housing and utilities sector and modernize the utilities infrastructure.

The bill was prepared in the context of fulfilling the order of Russian President Vladimir Putin to attract budget and private funds in the amount of 4.5 trillion rubles for the modernization of critical infrastructure by 2030.

"The bill introduces a rule for resource supplying organizations to approve investment programs. We also link these programs with depreciation already taken into account in the current tariffs. In the absence of legislatively established directions for depreciation, it is impossible to track what purposes it is spent on (major repairs, covering current expenses, or placing funds on deposits), since this remains at the discretion of the resource supplying organization," Deputy Minister of Economic Development Mikhail Kaminsky noted at the plenary session.

Depreciation charges in the housing and utilities sector are part of the cost of fixed assets that organizations include in their costs to compensate for their wear and tear. Depreciation is already included in the tariffs that the population pays for housing and utilities services, while depreciation can also be used for purposes not related to the modernization of housing and utilities facilities, which leads to insufficient funding of investment programs and accelerated wear and tear of infrastructure.

Now the direction of depreciation to finance investment programs will become mandatory. This will allow the investment resource already included in the tariff to be used for the development of the industry. According to Mikhail Kaminsky, today no more than 10% of organizations have investment programs.

The mechanism of regulatory agreements, which will be extended to the heat supply sector and fine-tuned in water supply, will help support investments in the regions of the Russian Federation. The agreement will establish the procedure for determining and changing tariffs for the heat supply organization, and will record the obligations of the subject of the Russian Federation, the municipality to set tariffs for the entire term of the agreement. This is necessary to attract private investment and provide regions and municipalities with the opportunity to provide budget support measures to resource supply organizations.

“We are thus providing the opportunity to record long-term mutual obligations of resource supplying organizations, regions and municipalities: organizations will receive long-term tariffs that take into account investment programs for a period of at least five years, and regions and municipalities will receive modernized infrastructure facilities,” Mikhail Kaminsky clarified.

The bill also introduces a unified approach to monitoring the implementation of investment programs. Currently, regional state control over investment programs is carried out within the framework of tariff regulation. Now the bodies authorized to do so, which are determined by the region itself, will work according to the rules of the basic law on control. In particular, they will receive the right to inspect the implementation of investment program activities.

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.

Posted on

Financial news: Results of monitoring maximum interest rates of credit institutions (07/15/2025)

Translation. Region: Russian Federal

Source: Central Bank of Russia –

An important disclaimer is at the bottom of this article.

1 When determining the maximum interest rate for each credit institution:

— maximum rates on deposits available to any client (including potential ones) without restrictions and preconditions are taken into account. Deposits for selected categories of clients (pensioners, children) and purposes (for social and humanitarian purposes, etc.) are not considered;

— rates with capitalization of interest on the deposit are not taken into account;

— rates that apply under certain conditions (regular turnover on a bank card, constant minimum balance on a bank card, etc.) are not taken into account;

— combined deposit products, i.e. deposits with additional conditions, are not considered. Such additional conditions for calculating an increased interest rate may be, for example, the purchase of investment units for a certain amount, opening an investment account, registration of an investment or savings life insurance program, connection of an additional service package, etc.;

— deposits whose term is divided into periods with different rates are not considered.

The average maximum interest rate indicator is calculated as the arithmetic mean of the maximum interest rates of 10 credit institutions.

2 PJSC Sberbank (1481) – www.sberbank.ru, VTB Bank (PJSC) (1000) – www.vtb.ru, GPB Bank (JSC) (354) – www.gazprombank.ru, JSC Alfa-Bank (1326) – alfabank.ru, JSC Rosselkhozbank (3349) – www.rshb.ru, JSC "Bank Dom.RF" (2312) – domrfbank.ru, PJSC "Moscow Credit Bank" (1978) – mkb.ru, JSC "TBank" (2673) – www.tbank.ru, PJSC "Promsvyazbank" (3251) – psbank.ru, PJSC "Sovcombank" (963) – sovcombank.ru. The monitoring was conducted by the Department of Banking Regulation and Analytics of the Bank of Russia using information provided on the specified websites. The published indicator is indicative.

3 Average maximum interest rates on deposits: for a term of up to 90 days – 17.22%; for a term of 91 to 180 days – 17.39%; for a term of 181 days to 1 year – 16.93%; for a term of over 1 year – 15.08%.

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.

Posted on

Dmitry Chernyshenko: The Republic of Abkhazia has joined the Student Tourism program.

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

Student tourism has become one of the topics sounded at a meeting with Russian President Vladimir Putin on July 10, 2025.

This season, a new international direction has been added to the Student Tourism program – now students, young scientists, postgraduates and residents studying in Russia will be able to choose the Republic of Abkhazia for their trip.

"The Student Tourism program is growing: 260 universities from 85 regions of Russia have joined it in four years. Participants travel not only around our country, but also abroad. Young people can travel to Armenia, Belarus, Uzbekistan, Kyrgyzstan, China, and now also to Abkhazia. In turn, more than 1,000 foreign students will visit Russian regions to get acquainted with the domestic education system and scientific agenda. Such trips contribute to strengthening cooperation between our countries and increasing the number of foreign students, as President Vladimir Putin instructed us to do," said Deputy Prime Minister Dmitry Chernyshenko.

The youth and student tourism program (Student Tourism) was launched on the initiative of Russian President Vladimir Putin. It allows university students aged 18 to 35 to travel, staying in the dormitories of partner universities. Thus, the program assumes the effective use of infrastructure, when the dormitories, which can be vacated during the summer holidays, are occupied by students who come from other regions. The opportunity to communicate with peers is especially important here.

The goal of the program is to create a single space for the cultural, personal, scientific and professional development of Russian youth, as well as familiarization with the domestic education system and science. You can apply for participation on the platform studturizm.rf.

According to the head of the Ministry of Education and Science, Valery Falkov, the program contributes to the formation of a favorable educational environment and opens up new prospects for cultural and scientific exchange.

"Today, participants of "Student Tourism" can travel to 117 cities in Russia, as well as choose travel destinations beyond its borders. The guys have access to more than 1.1 thousand scientific infrastructure facilities, special educational modules and popular science routes have been launched," he added.

The involvement of the Abkhaz State University (ASU) in the Student Tourism program started with an international blog tour in Sukhumi. It was organized in July by the Russian Ministry of Education and Science together with the International Youth Center of the Peoples' Friendship University of Russia named after Patrice Lumumba. Presentations of educational opportunities, meetings with university representatives, master classes, and cultural and excursion events were held at ASU. Students and representatives of media centers of Russian universities took part in the blog tour.

Head of the Student Tourism program Svetlana Nekhorosheva notes: “We at Student Tourism believe that students can easily, safely and affordably travel around Russia and the world. Abkhazia is an important partner in the development of youth exchanges and cultural dialogue. The accession of the Abkhaz State University opens up new prospects for students from both countries.”

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.

Posted on

Marat Khusnullin: In the Zabaikalsky Krai, repairs have been completed on 30 km of the federal highway R-297 "Amur" Chita – Khabarovsk

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

On the federal highway R-297 "Amur" Chita – Khabarovsk in the Zabaikalsky Krai, work has been completed to bring four sections of the road with a total length of 30 km up to standard. This was reported by Deputy Prime Minister Marat Khusnullin.

"This year marks 15 years since the federal highway R-297 "Amur" was launched. This is the only route between two major transport hubs and administrative centers of the country's regions – Chita and Khabarovsk. As an eastward extension of the federal highway R-258 "Baikal" Irkutsk – Ulan-Ude – Chita, the road connects the western part of Russia with the Far East, and also provides access to the A-360 "Lena" highway to Yakutia and the Magadan Region. Of course, any road surface requires maintenance and timely renewal. And in order for motorists to remain comfortable, repairs have been completed on four sections of R-297 with a total length of 30 km – the road surface has been renewed, culverts have been repaired, and the barrier fence, signal posts and road signs have been restored," said Marat Khusnullin.

The work was carried out under three government contracts on the following sections: km 115–km 125 near the settlement of Naryn-Talacha in the Karymsky District, km 270–km 275 and km 295–km 297, as well as km 323–km 337 in the Chernyshevsky District.

Additionally, on the section between km 323 and km 337 near Zhireken, a rest area was renovated and sunshades were installed to prevent the occurrence of subsidence or so-called Amur waves, which are formed as a result of the thawing of permafrost soils at the base of the road.

"The Amur Federal Highway is one of the most important elements of the Russian transport system. The average annual traffic intensity on this highway is growing every year. Thus, in 2022 it was about 2.5 thousand cars per day, and in 2024 – already more than 3.2 thousand vehicles. That is why we are constantly working to improve the transport characteristics of the road, including the use of innovative technologies and materials that can increase the durability and safety of the highway," said Azamat Ilimbetov, head of the Federal State Institution "Zabaikalye Federal Highway Administration", which carried out the repair of the highway.

Work to bring the route up to standard continues. By the end of 2026, more than 138 km of the R-297 "Amur" highway from Chita to the border with the Amur Region are planned to be repaired (including 30 km already commissioned). This year, a total of 84 km are planned to be commissioned.

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.

Posted on

Dmitry Chernyshenko: 61% of our citizens are involved in regular physical education and sports

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

"Despite external challenges, the industry has been steadily developing. As of June 2025, almost 61% of our citizens are involved in regular physical education and sports. This is the main indicator of the effectiveness of state policy, which was determined by our head of state. Let me remind you that, according to the instructions of President Vladimir Vladimirovich Putin, it should be at least 70% by 2030," said Dmitry Chernyshenko.

Last year, Russia hosted 645 international and almost 3 thousand national competitions, and held more than 2.3 thousand training camps in Olympic sports. Particular attention was paid to the development of new international formats. Russia hosted the BRICS Games and the Future Games (united participants from 116 countries in 21 phygital disciplines).

The Deputy Prime Minister named support for adaptive sports and veterans of the SVO as a key area of work. This topic was the focus of the meeting of the Council under the President. In 2024, 11 sports competitions were held for veterans of the SVO. In May of this year, the final of the Victory Cup in phygital sports was organized for them. On the instructions of the head of state, complex multi-stage competitions will be held for SVO participants, a comprehensive support system, infrastructure for training and rehabilitation will be built.

In 2025, a comprehensive state program was launched, within the framework of which at least 350 sports facilities will be built annually, and support for children's sections, coaches, and mass adaptive sports will be strengthened.

"According to Rosstat, the total expenditure on sports in the country is about 700 billion rubles. One of the key tasks is to consolidate all these resources in the sports sphere, including extra-budgetary funds," noted Dmitry Chernyshenko.

In addition, it is necessary to conduct an analysis of the impact of extra-budgetary sources on achieving the indicators of this comprehensive state program. The Ministry of Sports is preparing a system for rating regions by efficiency in the field of physical culture and sports. It is also important to regularly conduct research on the satisfaction of our citizens with the conditions for engaging in physical culture and sports in the regions.

"The return of Russian athletes to the world arena is our primary task. 67 international federations allow our athletes to compete in their events. Almost 4,000 Russians in 28 Olympic sports have been allowed to participate in international tournaments under the auspices of the federations. Our plans for 2025 include participation in 29 world championships and other major competitions," said Mikhail Degtyarev.

In 2024, unified federations were created for gymnastics, water sports, canoeing, baseball and softball.

As the Minister noted, one of the most important instruments for strengthening the system will be the Russian Sports Fund, created this year on the instructions of the President. In 2024, the total amount of deductions from gambling on sports exceeded 35 billion rubles.

Special attention is given to our historical regions. The Russian Ministry of Sports will finance capital repairs, construction and reconstruction of sports facilities. Plans up to 2027 include, among other things: construction of 35 FOKOTs and 15 modular sports facilities, equipping 66 sports institutions with equipment.

The Ministry of Sports has approved a list of 24 most accessible sports for organizing free sections and preferential conditions for children from low-income families. An order has been issued by the Ministry of Sports banning application fees for athletes under 18 years of age at interregional and all-Russian competitions.

The GTO complex is an important tool for engaging in sports. 2.7 million people met the standards in 2024, more than 1 million received a gold badge.

On the instructions of the President of Russia, the “Zemsky Trainer” program was launched.

Dmitry Chernyshenko and Mikhail Degtyarev presented state and departmental awards in the field of sports. Among them were the Order of Honor, medals of the Order of Merit for the Fatherland, 1st and 2nd class, and others, awarded in accordance with the decree of the President.

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.

Posted on

Alexander Novak: Joint work of Russia and Nigeria within OPEC makes a decisive contribution to ensuring predictability of the oil market

Translation. Region: Russian Federal

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

An important disclaimer is at the bottom of this article.

Deputy Prime Minister of Russia Alexander Novak met with the Minister of Finance and Coordinating Minister for Economic Affairs of Nigeria Olawale Edun.

"Russia values the friendly nature of Russian-Nigerian relations, which are based on the principles of mutual respect and similar approaches to current issues on the international and regional agenda. We see Abuja as a promising partner on the African continent," said Alexander Novak, opening the negotiations.

The parties discussed full-cycle cooperation in the oil and gas industry: from geological exploration to field development, interaction in the energy sector, industrial equipment supplies, and in the financial and banking sector.

Particular attention was paid to issues of interaction and coordination of efforts within the Gas Exporting Countries Forum (GECF) and OPEC. The Deputy Prime Minister emphasized Russia's commitment to promoting the legitimate interests of gas exporters in global energy markets.

"Our joint work within OPEC makes a decisive contribution to ensuring stability and predictability of the global oil market. The decisions taken are based on real market indicators and trends and are aimed at balancing it in the face of economic challenges. We believe that our collective actions within OPEC and OPEC meet long-term national interests and contribute to strengthening the economies of our countries," added Alexander Novak.

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.