Russia Sees Staggering Income Inequality

AFP PHOTO / VASILY MAXIMOV (Photo credit should read VASILY MAXIMOV/AFP/Getty Images) Police officers guard a vandalised street, the site of mass rioting in the southern Biryulyovo district of Moscow, late on October 13, 2013. Mass rioting broken out today in a southern Moscow district after a mixed crowd of nationalists and locals attacked a warehouse run by migrants and natives of the Caucasus. The riot was prompted by the fatal stabbing of an ethnic Russian in the area. AFP PHOTO / VASILY MAXIMOV (Photo credit should read VASILY MAXIMOV/AFP/Getty Images) OMON, riot police, officers search a man detained during mass rioting in the southern Biryulyovo district of Moscow, late on October 13, 2013. Mass rioting broken out today in a southern Moscow district after a mixed crowd of nationalists and locals attacked a warehouse run by migrants and natives of the Caucasus. The riot was prompted by the fatal stabbing of an ethnic Russian in the area. AFP PHOTO / VASILY MAXIMOV (Photo credit should read VASILY MAXIMOV/AFP/Getty Images) OMON, riot police, officers escort a man detained during mass rioting in the southern Biryulyovo district of Moscow, late on October 13, 2013. Mass rioting broken out today in a southern Moscow district after a mixed crowd of nationalists and locals attacked a warehouse run by migrants and natives of the Caucasus. The riot was prompted by the fatal stabbing of an ethnic Russian in the area. AFP PHOTO / VASILY MAXIMOV (Photo credit should read VASILY MAXIMOV/AFP/Getty Images) People clash with OMON, riot police, officers during mass rioting in the southern Biryulyovo district of Moscow, on October 13, 2013. Thousands rioted today in Moscow, bashing in the doors and windows of a shopping centre and beating up security guards in a nationalist protest sparked by a murder blamed on a migrant. AFP PHOTO (Photo credit should read -/AFP/Getty Images) Young men walk past OMON, riot police, officers cordoning of a street during mass rioting in the southern Biryulyovo district of Moscow, late on October 13, 2013.

but not quite like in Russia. RATH: Now, you mention that the vast majority, 93 percent of Russia’s population is worth less than $10,000. How does that translate into quality of living, standard of living in a city like Moscow? ALPERT: Basically, you do have people here who have not a lot of money, and there’s quite a lot of them. And they struggle in a place like Moscow because, you know, costs are quite high. But overall, the standard of living has improved quite dramatically in, say, the last 10 years. So there doesn’t seem to be overwhelming dissatisfaction over this point yet. But, you know, presumably, it could get there. In history, when you look at these kind of disparities of wealth, it doesn’t usually end well for the people who have all the money, you know? So it’s hard to say when that, you know, if that – there’s going to be a tipping point or, you know, maybe they can bring up the lower end of the population and balance it out over time. But, you know, at the moment, it seems like this can’t sustain as it is. RATH: Luka Alpert covers foreign investment for The Wall Street Journal in Moscow. Lucas, thank you so much. ALPERT: You’re welcome. Copyright 2013 NPR.

Russia’s Tinkoff Credit firm to place shares worth $870 mln in IPO

Existing shareholders including Oleg Tinkov and his private-equity backers – Vostok Nafta, Goldman Sachs, Baring Vostok and Ukraine’s Horizon Capital – will reduce their stakes. Tinkov will cut his stake to at or around 50 percent from 61 percent, the company said. Goldman Sachs, Morgan Stanley and Sberbank are acting as joint global co-ordinators and joint bookrunners. JP Morgan and Renaissance Capital are acting as joint bookrunners. @yahoofinance on Twitter, become a fan on Facebook Related Content Chart Your most recently viewed tickers will automatically show up here if you type a ticker in the “Enter symbol/company” at the bottom of this module. You need to enable your browser cookies to view your most recent quotes. Search for share prices Terms Quotes are real-time for NASDAQ, NYSE, and NYSEAmex when available. See also delay times for other exchanges . Quotes and other information supplied by independent providers identified on the Yahoo! Finance partner page . Quotes are updated automatically, but will be turned off after 25 minutes of inactivity. Quotes are delayed at least 15 minutes. All information provided “as is” for informational purposes only, not intended for trading purposes or advice. Neither Yahoo! nor any of independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein.