MOSCOW. Dec 3 (Interfax) – The sentencing of corruption suspects to fines has practically doubled in Russia in the past two years, the Supreme Court said. “The number [of suspects] sentenced to fines has grown in the past two years, since the moment the amendments that significantly raised fines for corruptive practices came into force. Some 46.5% of all persons […]
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(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – December 2, 2013) President Vladimir Putin visited Sochi’s main Olympic stadium near the Black Sea coast on Friday only to see construction workers and equipment still spread around the venue, which is still unfinished just more than two months before it will host the opening ceremony of the Winter Games. Originally supposed […]
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MOSCOW, December 2 (RIA Novosti) Russian President Vladimir Putin has signed a landmark law breaking state-owned Gazprom’s monopoly on gas exports, according to a document published on a government site Monday. Gazprom will keep its export monopoly on gas carried through pipelines, but the new law will allow Russian producers to export liquefied natural gas, the super-cooled fuel increasingly […]
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(Moscow Times – themoscowtimes.com – Kristian Magnus – November 28, 2013) Two customs officers halted the truck loaded with toy bricks at the border. Two millimeters. That was the extent of the error in the documents, causing the Lego truck to run into the brick wall of Russian bureaucracy. The truck was not granted entry into Russia until the documents […]
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(Moscow Times – themoscowtimes.com – Guennadi Moukine – November 28, 2013) PERESLAVL-ZALESSKY, Yaroslavl Region Russia is lagging five and a half years behind the U.S. in supercomputing technology and closing the gap is essential for the competitiveness of the Russian economy, an Academy of Sciences computing expert said. Supercomputers, which are ranked according to their speed of calculation measured […]
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(Moscow News – moscownews.com – Maria Stambler – November 28, 2013) Sharing, liking, posting, clicking, browsing – these actions are ubiquitous and have firmly cemented themselves into our existence with the rise of YouTube, Facebook and Twitter. New forms of communication emerge every day, and there is fairly little doubt that our lives are affected by the way we use […]
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MOSCOW, November 27 (RIA Novosti) A giant designer suitcase-shaped pavilion installed in the middle of Moscow’s Red Square is being dismantled, city authorities said Wednesday, following a wave of public outrage and numerous demands for its removal. The organizers of the Louis Vuitton-sponsored installation were preparing to take it down on Wednesday afternoon, the city’s media and advertizing department […]
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(Bloomberg – bloomberg.com – Maria Levitov – November 26, 2013) Goldman Sachs Group Inc. recommended buying Chinese (SHCOMP) and Russian stocks as a pick up in growth in developed countries and government reforms boost prospects for the “least-expensive” emerging markets. Goldman upgraded equities in the two countries to overweight, the equivalent of buy, from market weight, saying Chinese banks and […]
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MOSCOW. Nov 25 (Interfax) – The business confidence index for the Russian extractive sector negative (-) was 3% in November, down from -2% in October and -1% in September and 4% for the five months prior to that, the Federal State Statistics Service (Rosstat) said. In the manufacturing sector, the index was negative (-) 6% in November, down from -5% […]
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MOSCOW. Nov 22 (Interfax) – Foreign direct investment (FDI) in Russia grew 51.6% year-on-year in January-September 2013 to $18.61 billion, the Federal State Statistics Service (Rosstat) said. Overall foreign investment grew 15.7% year-on-year to $132.385 billion. FDI grew 4.6% in January-September last year. FDI in this year included $7.279 billion in equity investment, up 15.2%; $10.13 billion in loans from […]
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Subject: 6th Annual Conference Doing Business with Russia From: eurasiamail@aol.com Date: Tue, 26 Nov 2013 6th Annual Conference Doing Business with Russia The Eurasia Center & The Eurasian Business Coalition December 4, 2013 At The Russian Trade Representation & The Embassy of the Russian Federation Washington, DC To Register please visit www.eurasiacenter.org and see Agenda. This event will allow participants […]
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(RIA Novosti – November 22, 2013) US asset management giant BlackRock pulled more than $100 million from its Russian investments over a seven-day period beginning last week, the Prime news agency reported Friday. The amount is about a third of the investment that BlackRock, the world’s largest money manager, has in Russia, Prime said, citing figures from Emerging Portfolio Fund […]
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MOSCOW. Nov 20 (Interfax) – President Vladimir Putin is opposed to the nationalization of companies sold at loans-for-shares auctions at the end of the last century. At his meeting with representatives of nonparliamentary parties acting chairman of the Right Cause Vyacheslav Maratkanov invited owners of companies that were bought at such actions “with gross abuses” in the early 1990s “to […]
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(Russia Beyond the Headlines – rbth.ru – Viktor Kuzmin, RBTH – November 19, 2013) The Russian government has established a foundation to support startups. Experts, however, are skeptical that such an idea will be successful Startup support is becoming a part of the Russian government’s small- and medium-business support policy. Notwithstanding planned 2014 budget expenditure cuts (many items will be […]
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(Moscow Times – themoscowtimes.com – November 20, 2013) The United States may publish the extended version of the “Magnitsky list” as early as next month, while Europe is expected to pass a similar measure, Hermitage Capital investment fund president and bill supporter William Browder said. The Magnitsky Act, enacted by the U.S. Congress in December 2012 and named after late […]
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(Moscow Times – themoscowtimes.com – November 19, 2013) U.S.-born banker Alexis Rodzianko has been elected president of the American Chamber of Commerce in Russia, or AmCham, the chamber said Tuesday. The previous president, Andrew Somers, announced earlier this year he would be departing to launch a new strategic consulting firm. “We have the greatest confidence in Alex, who comes to […]
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(Window on Eurasia – Paul Goble – Staunton, November 19, 2013) Russia’s regions are overwhelmingly in a deep crisis, the result of a confluence of factors that can be overcome only by ending “hyper-centralization,” restoring budgetary federalism, and somehow reversing the “degradation” and rapacity of the Moscow elite and its faith in gigantist projects, according to Natalya Zubarevich. In a […]
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(Business New Europe – bne.eu – Ben Aris in Moscow – November 19, 2013) Russian President Vladimir Putin is frustrated with the slow progress in his anti-corruption drive and struggling to take charge of the situation. Having ignored the problem for over a decade, the president has been forced to finally deal with the problem of graft, as Russia can […]
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MOSCOW. Nov 16 (Interfax) – The Russian Prosecutor General’s Office has dropped its charges against the Foundation for the Development of the Center for the Elaboration and Commercialization of New Technologies (Skolkovo Foundation) after the latter corrected the violations uncovered earlier, the Prosecutor General’s Office said on Saturday. “The management of the non-profit organization Foundation for the Development of the […]
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(Kremlin.ru – Novo-Ogaryovo, Moscow Region – November 14, 2013) Vladimir Putin chaired a meeting of the Agency for Strategic Initiatives (ASI) Supervisory Board. Meeting participants discussed the creation of a good investment climate and the evaluation of new ASI-supported projects. PRESIDENT OF RUSSIA VLADIMIR PUTIN: Good afternoon, colleagues, Today we are holding our final meeting this year. So I would […]
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(Moscow Times – themoscowtimes.com – November 13, 2013) Lawmakers from 21 countries have formed a commission to promote sanctions against Russian officials implicated in the prison death of whistle-blowing lawyer Sergei Magnitsky in 2009. The Justice for Sergei Magnitsky commission, which was holding its inaugural meeting at the European Parliament in Brussels on Wednesday, includes lawmakers from Canada, Britain, France, […]
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(Moscow Times – themoscowtimes.com – Andrew McChesney – November 13, 2013) The government is considering delaying the privatization of oil giant Rosneft until 2016 or later as it seeks to maximize the price it can secure. Rosneft is scheduled to be privatized in 2015, and a postponement could put a dent in projected government spending. “We will have to discuss […]
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MOSCOW. Nov 12 (Interfax) – Russia may file three to four lawsuits in the WTO over the next two to three years, Maksim Medvedkov, the head of the Economic Development Ministry’s trade negotiations department, said at a roundtable during a business strategy conference organized by Vedomosti newspaper in Moscow on Tuesday. “In the next two to three years I see […]
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(Russia Beyond the Headlines – rbth.ru – Maria Prikhodina, special to RBTH – November 11, 2013) Despite the lack of legislation to encourage corporate giving, social entrepreneurship is growing among Russian firms. Darya Alexeyeva, the director of a workshop for young adults with developmental disabilities, felt like celebrating when her students earned $6,000 at a recent craft fair. “It was […]
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(Moscow Times – themoscowtimes.com – Alexander Panin – November 11, 2013) Russia is ranked number one in Europe in terms of building retail space but still has a lower ratio of shopping malls to people, according to research by Cushman & Wakefield. With over 456,200 square meters of retail space built in just the first half of 2013, Russia topped […]
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(Russia Beyond the Headlines – rbth.ru – Tatyana Lisina, special to RBTH – November 8, 2013) The most expensive Russian brands are conceding significantly in value to brands from developed countries. Experts believe this is because of a lack of investment into brand marketing. Brand consultants Interbrand recently presented ratings for the top 40 most expensive brands of 2013. Gazprom […]
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(Moscow Times – themoscowtimes.com – Delphine d’Amora – November 7, 2013) Prominent members of the business community have sent an appeal to President Vladimir Putin asking for a reevaluation of amendments to the Criminal Code, which Putin himself submitted to the State Duma on Oct. 11, Vedomosti reported Thursday. The amendments would authorize investigators to open tax cases at their […]
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(Window on Eurasia – Paul Goble – Staunton, November 6, 2013) For most of modern times, ethnic Russians have assimilated members of other nations living among them because they represented a more advanced community, but now, a Moscow blogger says, they have “lost the ability to assimilate other peoples,” something that makes the influx of non-Russian migrants even more disturbing […]
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(Russia Beyond the Headlines – rbth.ru – Anna Kuchma, RBTH – November 4, 2013) If Hollywood movies are to be believed, foreigners are scared witless of doing business in Russia. Russian businessmen look more like hardened criminals, and any attempts to work honestly in the country crash against an impenetrable wall of bureaucracy or so it is said. But […]
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(Moscow Times – themoscowtimes.com – Guennadi Moukine – November 1, 2013) Good infrastructure, a secure environment and exponentially increasing computer power guarantee the growth of innovative solutions to global problems, political and technology leaders told attendees of the International Forum for Innovative Development in Moscow on Thursday. Russia has the intellectual capital, education and state support to become a technology […]
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(Moscow Times – themoscowtimes.com – Anatoly Medetsky – November 1, 2013) Russian government officials, led by two deputy ministers, met with U.S. business representatives and lobbyists for a two-day conference in Houston to exchange their views on doing business in Russia. Deputy Economic Development Minister Sergei Belyakov gave a keynote speech during the Oct. 29 to 30 meeting organized by […]
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(Government.ru – October 31, 2013) Dmitry Medvedev’s address to the plenary meeting: Addressing the plenary meeting of the 2nd Moscow International Forum, Open Innovations Ladies and gentlemen, colleagues, Mr Katainen (Prime Minister Jyrki Katainen of Finland), Mr Ayrault (Prime Minister Jean-Marc Ayrault of France), the first thing I heard was: What can governments do to support innovation? I think the […]
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(Russia Beyond the Headlines – rbth.ru – Artem Zagorodnov, RBTH – October 31, 2013) Russia moves ahead of its fellow BRIC countries in the World Bank’s latest Ease of Doing Business ranking, as the country fights to attract international investment. Russia jumped 20 places in the World Bank’s Ease of Doing Business survey to number 92 out of 185 […]
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(Interfax – October 31, 2013) The materials of the checks carried out by the Prosecutor-General’s Office, which uncovered serious violations regarding the use of budget funds in the Skolkovo innovation foundation, will not cause an immediate launch of criminal cases, privately-owned Russian news agency Interfax reported, quoting an informed source in the law-enforcement structures as saying. No criminal cases expected […]
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(Moscow Times – themoscowtimes.com – Guennadi Moukine – October 31, 2013) Russia’s straddling of Europe and Asia and its unpretentious approach to embracing all who strive to capitalize on new technology will make the Open Innovations Forum that starts Thursday in Moscow a success, the event’s chief executive said. World-famous innovators and visionaries will share their concepts and secrets of […]
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(Russia Beyond the Headlines – rbth.ru – Olga Ivanova, RBTH – October 30, 2013) RBTH features the 30 most promising and successful Russian entrepreneurs under the age of 30 The most successful young entrepreneurs in Russia will receive international exposure with the launch of the 30 under 30 special feature [http://rbth.ru/30under30/list], which will be published on Oct. 30 by Russia […]
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(Moscow Times – themoscowtimes.com – Yekaterina Kravtsova – October 31, 2013) Fraudulent schemes used during the creation of state-owned innovation hub Skolkovo have created the potential for misspending almost $4 billion in state funds, the Prosecutor General’s Office said Wednesday. “A lack of proper control on the part of Skolkovo Fund management over implementation of the project has prompted uncontrolled […]
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MOSCOW, October 30 (RIA Novosti) Russian prosecutors said Wednesday they have exposed major financial irregularities and waste at a center for innovation that has long been the pet project of Prime Minister Dmitry Medvedev. The Prosecutor General’s office said in a statement that spending at the Skolkovo Foundation has become “out of control and extravagant” and that it has […]
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(Moscow Times – themoscowtimes.com – Guennadi Moukine – October 30, 2013) Membership in the World Trade Organization, or WTO, has increased Russia’s overall economic competitiveness, Prime Minister Dmitry Medvedev said Tuesday at a review of the impact of the country’s participation a year after ascension. However, Russia needs to learn how to fully utilize the opportunities presented by membership, including […]
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GORKI, Moscow region. Oct 29 (Interfax) – Russian Prime Minister Dmitry Medvedev has spoken positively of Russia’s progress in the 2013 Ease of Doing Business survey compiled by the World Bank and the International Finance Corporation. “Absolutely, this movement upwards in the Doing Business rating is a pleasing result for our economy. I hope that this result has been achieved […]
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(Bloomberg – bloomberg.com – October 29, 2013 – Jake Rudnitsky) One hundred days before the start of the most expensive Winter Olympics, President Vladimir Putin’s $48 billion vision of a newly empowered Russia rests in the hands and shovels of laborers working around the clock. Construction continues on the main stadium, hotels and athlete housing for the Feb. 7-23 Winter […]
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NEW YORK. Oct 28 (Interfax) – The head of the American Chamber of Commerce (AmCham) in Russia, Andrew Somers, has praised the investment climate in Moscow and claimed that the environment for doing business in the city has improved significantly over the last few years. Somers, who was speaking on Monday at a forum in New York entitled “Invest in […]
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(Business New Europe – bne.eu – October 29, 2013) Russia has shot up the rankings of the World Bank’s annual Doing Business index this year. According to the survey, its now easier to do business in Russia than in China, the previous stand-out leader in the ranking amongst the five Brics nations. “Improving the investment climate is a top policy […]
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(Russia Beyond the Headlines – rbth.ru – Gleb Fedorov, RBTH – October 24, 2013) Business ombudsman Boris Titov tells RBTH why Russia needs an economic amnesty and how to improve the country’s business climate. Boris Titov, owner of Russia’s largest champagne producer, is no stranger to pressure from officials. Now, in the position of Presidential Ombudsman for Entrepreneurs’ Rights, he […]
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(Business New Europe – bne.eu – October 23, 2013) The list of foreign retailers setting out their stall in Russia will get a colourful addition next year, with US entertainment giant Walt Disney planning to open three themed stores in Moscow and St Petersburg in 2014. The merchandising arm of the film and cartoon maker is set to launch toy […]
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GORKI. Oct 21 (Interfax) – The world’s largest companies are planning to increase investments in Russia soon, Mark Weinberger, Global Chairman & CEO of Ernst & Young, said. Weinberger told journalists after a Foreign Investment Advisory Council meeting that “68% of the companies who invest in Russia are planning on increasing investments soon.” He also said that “if we look […]
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(Moscow Times – themoscowtimes.com – Delphine d’Amora – October 22, 2013) The Russian education system is increasingly unable to meet the demands of the country’s labor market and shows little ability to fill vacancies in high-skill industries, according to a study released Tuesday. The second annual Hays Global Skills Index, published by global recruitment company Hays in association with Oxford […]
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(RIA Novosti – MOSCOW, October 21, 2013) A Russian telecommunications giant has slammed government plans to give security services complete access to all Internet traffic by the middle of 2014, calling them unconstitutional, Kommersant newspaper reported Monday. The daily cited a letter submitted by mobile operator Vimpelcom to the Press and Communications Ministry as saying the proposed legislation violated fundamental […]
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(Moscow Times – themoscowtimes.com – October 18, 2013) Russian companies have been handed middling ratings in an appraisal of 100 companies from 16 emerging markets released by Transparency International. Including six Russian companies metal giants RusAl, Norilsk Nikel Evraz and Severstal, together with energy majors Gazprom and LUKoil on three separate scores, the survey, which was released on […]
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(Moscow Times – themoscowtimes.com – Alexander Panin – October 17, 2013) Following a recent eruption of ethnically motivated street violence, Moscow’s migrant-populated food markets and warehouses continue to serve as the front line in an ongoing fight against illegal immigrants declared by mayor Sergei Sobyanin. The now notorious vegetable warehouse in Biryulyovo that became the site of violent riots Sunday […]
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