Trust Bank

Russian economy suffers first contraction since global crisis

Russia's economy shrank sharply in November and the rouble resumed its slide on Monday as Western sanctions and a slump in oil prices combined to inflict the first contraction in GDP since the global financial crisis.

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Russian central bank to lend $1.9 billion to rescue Trust Bank

Russia's central bank will provide a 99 billion rubles ($1.9 billion) 10-year loan to mid-sized Trust Bank to help it avert bankruptcy, in Russia's first bailout this year amid a steep devaluation of the rouble.

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