The Russian economy in the 2Q 2015

Russian economy contracted by 4.6 percent in the second quarter compared to the same period last year and more than double the 2.2 percent contraction recorded in the previous quarter, which is the largest drop in six years and were viewed as worse than expected, according to estimates provided by the Federal Statistics Office on August 10. ...

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Polish parabanks under scrutiny after Amber Gold allegedly embezzles more than PLN 60 mln

The Amber Gold affair, epitomizing a Polish 'parabank' scam in which Amber Gold has been accused of embezzling at least PLN 53 mln from its clients, has brought to light negligence in controlling the banking system and lending companies in Poland. The Prosecutor's Office, the Polish Corporate Registry, the Polish Financial Supervision Authority (KNF), the National Bank of Poland (NBP) have all been accused ...

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