Ulyukayev Considers $10Bln Quarterly Flight ‘Acceptable’

Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – Howard Amos – January 17, 2013) A capital outflow of up to $10 billion every three months would be an acceptable level under current macroeconomic conditions, a leading figure at the Central Bank said. Russia saw $56.8 billion leave the country in 2012, stoking fears that the Kremlin is struggling to control capital flight and […]

» Read more

TRANSCRIPT: [Putin] Meeting on economic issues

File Photo of Vladimir Putin Speaking with Flag Behind Him and Microphones in Front

(Kremlin.ru – January 16, 2013) The Kremlin, Moscow Vladimir Putin held a meeting on economic issues to discuss the financial results for 2012 and measures to develop Russia’s economy. PRESIDENT OF RUSSIA VLADIMIR PUTIN: Good afternoon, colleagues. We will discuss the results for 2012 today and look at additional measures to ensure economic growth. The situation in the global economy […]

» Read more

Medvedev Wants Economy to Grow 5% Annually

File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Irina Filatova – January 17, 2013) Prime Minister Dmitry Medvedev on Wednesday urged the Cabinet to ensure stable economic growth of at least 5 percent a year in the near future, a goal some officials said might require changes to current budget policy. The major goal for the country’s government is “to ensure transition to […]

» Read more

Winter in Russia: cold indoors as well as out

File Photo of Moscow In Snowy Winter Showing St. Basil's At Night in Snowfall, with People on the Ground in the Distance

(www.opendemocracy.net – Mikhail Loginov – January 16, 2013) Mikhail Loginov is a journalist and novelist based in St. Petersburg. He is the author of the recently published bestselling political thriller “Battle for Kremlin”. Most radiators in urban Russian homes are fed by hot water transported from heating plants miles away. Ageing pipes frequently burst, causing hardship and even fatalities. Could […]

» Read more

Political modernization must be carried on – Medvedev

Dmitry Medvedev file photo

MOSCOW. Jan 16 (Interfax) – The political modernization course is unwavering, Prime Minister Dmitry Medvedev said at the Gaidar Forum on Wednesday. “We need political modernization and qualitative broadening of political and economic freedoms,” he said. The other tasks are qualitative renovation, comprehensive modernization of various spheres of the country’s life, technological modernization, economic diversification, reduced dependence on fluctuations of […]

» Read more

Shuvalov Firm on Tax Policy

Igor Shuvalov file photo

(Moscow Times – themoscowtimes.com – January 16, 2013) First Deputy Prime Minister Igor Shuvalov said Wednesday that the government would not raise taxes for business before 2018, provided that events of a “global” scale do not influence the situation. In an interview published in Kommersant on Wednesday, Shuvalov said that the government finalized its midterm tax strategy last year. “Up […]

» Read more

Russia Should Abandon Sectoral Industry Aid – Medvedev

Dmitry Medvedev file photo

MOSCOW, January 16 (RIA Novosti) ­ Russia should abandon its policy of providing state support to specific sectors of the economy and start supporting domestic firms integrating into world production chains, Prime Minister Dmitry Medvedev said on Wednesday. “It is necessary to go beyond the sectoral approach, which has been established and is frequently practiced in our country. The focus […]

» Read more

Putin relatively satisfied with Russian economic performance in 2012

File Photo of Cash, Coins, Line Graph

MOSCOW. Jan 16 (Interfax) – Russia’s economic performance was “relatively satisfactory” in 2012, Russian President Vladimir Putin said at a meeting dedicated to economic affairs at the Kremlin. “The economic results of the year have not yet been conclusively summed up, but the preliminary figures look relatively satisfactory. According to the Economic Development Ministry’s estimates, GDP growth for January-November of […]

» Read more

Year 2012 showed that Russia has learned to deal with problems – Shuvalov

Igor Shuvalov file photo

(Interfax – January 16, 2013) Year 2012 was calm politically and good economically, despite the difficult State Duma and presidential elections, First Deputy Prime Minister Igor Shuvalov said in an interview published in the Wednesday edition of Kommersant. “To me, as a government official, our condition at the end of 2012 is an additional confirmation that the country has learned […]

» Read more

Russia Says World Is Nearing Currency War as Europe Joins

File Photo of Cash, Coins, Line Graph

(Bloomberg – bloomberg.com –  Simon Kennedy & Scott Rose – January 16, 2013) The world is on the brink of a fresh “currency war,” Russia warned, as European policy makers joined Japan in bemoaning the economic cost of rising exchange rates. “Japan is weakening the yen and other countries may follow,” Alexei Ulyukayev, first deputy chairman of Russia’s central bank, […]

» Read more

Russia might not commit to liberalizing trade at Doha WTO talks – Medvedkov

WTO Logo

(Interfax – January 16, 2013) Russia, as a country that only recently joined the World Trade Organization (WTO), might not assume many of the commitments to liberalize trade that are approved during the Doha round of talks, Maxim Medvedkov, head of trade negotiations at the Russian Economic Development Ministry, told Interfax. “Russia would like to see [the Doha round] wrap […]

» Read more

Lavrov Talks Customs Union With Ukraine

Russian Naval Vessel in Ukrainian Port

(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – January 15, 2013) Foreign Minister Sergei Lavrov and his newly appointed Ukrainian counterpart, Leonid Kozhara, had a series of meetings on Sunday and Monday to underline the importance of fostering strategic ties between the two countries, with Ukraine’s potential accession to the Russia-dominated Customs Union a central topic. Relations have been strained […]

» Read more

Gaidar Forum returns with stellar line-up

Cash, Calculator, Pen

(Moscow News – themoscownews.com – Nathan Gray – January 15, 2013) The fourth annual Gaidar Forum kicks off at the Russian Presidential Academy of National Economy and State Administration on Wednesday, bringing together Russian and international economic leaders to discuss key policy issues around the theme of “Russia and the World: The Challenges of Integration.” The forum grew out of […]

» Read more

Russia’s pension impasse — is there a way out?

File Photo of Two Elders Walking Outdoors

(www.opendemocracy.net – Andrei Zaostrovtsev – January 11, 2013) Andrei Zaostrovtsev is lecturer at the M-Centre at the European University, St. Petersburg and professor of the Higher School of Economics One way Vladimir Putin has retained his popularity among Russians has been by increasing retirement pensions and other social benefits, and as a result the state pension fund is deep in […]

» Read more

More Stars Expected to Bid for Russian Citizenship

Gérard Depardieu file photo

(Moscow Times – themoscowtimes.com – Alexander Bratersky – January 15, 2013) When President Vladimir Putin gave Russian citizenship to French actor Gerard Depardieu, the story became the biggest Internet hit and a subject of political controversy over the long New Year’s vacation. It was the first time in modern Russian history that someone who was not a former spy but […]

» Read more

Privatization Destroyed Russia’s Chance for Freedom and Must Be Reversed, Pastukhov Says

Empty Boardroom

(Window on Eurasia – Paul Goble – Staunton, January 11, 2013 – http://windowoneurasia2.blogspot.com/2013/01/window-on-eurasia-privatization.html) Staunton, January 11 ­ The Russian people “who 20 years ago dreamed about freedom today are choosing slavery” because they were deceived by the elites about privatization and thus no longer “believe anyone,” according to an analysis by Vladimir Pastukhov, a Russian scholar who now works at […]

» Read more

It’s a jungle out there

File Photo of Moscow Apartment Building

(Moscow News – themoscownews.com – Kristen Blyth – January 14, 2013) When asked how she became qualified to work as a real estate agent, Emma became defensive. “I don’t want to tell you,” she told The Moscow News. “I’m a realtor now, and that’s all you need to know.” Emma was the broker that Elliott Estebo, an expat English teacher, […]

» Read more

An investment wonderland? Reality checks

File Photo of Outdoor Electronic Sign with Russian Exchange Data

(www.opendemocracy.net – Pavel Usanov – January 11, 2013) Pavel Usanov is head of the Hayek Institute for Economy and Law in St. Petersburg and Reader at the Higher School of Economics. Since the collapse of the USSR investors have flocked to Russia, tempted by the high rates of return and the Alice in Wonderland atmosphere in Moscow, where everything seems […]

» Read more

Serdyukov Faces ‘Suspect’ Status in Fraud Case

Anatoliy Serdyukov file photo

(Moscow Times – themoscowtimes.com – January 14, 2013) Former Defense Minister Anatoly Serdyukov, who at an inquiry Friday into allegedly illicit property sales gave investigators “a few sheets of paper with explanations” then refused further questions, faces being considered a suspect, the Investigative Committee said. “If the former defense minister believes he is free of any guilt with regard to […]

» Read more

Unexpected peace turns Norilsk Nickel into milking cow: Year in Review

Nickel Operation file photo

MOSCOW. Jan 9 (Interfax) – The multi-part drama known as the corporate dispute at Russian mining giant Norilsk Nickel (RTS: GMKN) came to a conclusion at the end of 2012 with an unexpected twist. The distribution of forces that had emerged at Norilsk Nickel since the end of 2008 seemed fairly stable and safe. Vladimir Potanin’s Interros and Norilsk Nickel’s […]

» Read more

Russia: An Oprichnik Economy

Empty Boardroom

(www.opendemocracy.net – Andrei Zaostrovtsev – January 9, 2013) Andrei Zaostrovtsev is lecturer at the M-Centre at the European University, St. Petersburg and professor of the Higher School of Economics Owning a business in Russia today is a hazardous affair: each year thousands of companies close after their owners are accused of ‘economic crimes’ and face either prison or protection payments […]

» Read more

China-Russia Trade Up 11% to $88 Bln in 2012

China Map

BEIJING, January 10 (RIA Novosti) ­China-Russia trade grew 11.2 percent in 2012 from the previous year to $88.16 billion, the Chinese General Customs Administration reported on Thursday. Trade with the European Union, China’s largest trading partner, declined by 3.7 percent last year to $546.04 billion while trade with the United States, China’s second-largest trading partner, grew by 8.5 percent to […]

» Read more

Russian stock market shows modest results in 2012: Year in Review

File Photo of Outdoor Electronic Sign with Russian Exchange Data

MOSCOW. Jan 9 (Interfax) – The Russian stock market gave investors hopes for good profits early on in 2012 but ended up at the rear of global financial flows demonstrating rather modest results. The overall global situation was also certainly far from ideal, but, despite all the European debt troubles, the uncertainty surrounding the U.S. presidential elections and the fiscal […]

» Read more

People should be allowed to make economic decisions – Russian church

Archpriest Vsevolad Chaplin file photo

MOSCOW. Jan 9 (Interfax) – Officials and businessmen need to win people’s confidence back, Archpriest Vsevolod Chaplin, the head of the synodal department on liaison between the church and society, said. “Many people now feel alienation from decisions made in the economic sphere. Decisions are made by a limited circle of people. Our president has called the privatization unfair. This […]

» Read more

Russia’s Economy Still ‘Mostly Unfree’ – Index

File Photo of Cash, Coins, Line Graph

MOSCOW, January 10 (RIA Novosti) ­ Russia’s economy is among the least free in the world, according to an index published on Thursday. Russia took 139th position out of 177 countries on the 2013 Index of Economic Freedom, published by the Heritage Foundation think tank and the Wall Street Journal. The showing represented a slight improvement from 2012 for Russia, […]

» Read more

Whatever happened to Russia’s economic miracle?

File Photo of Blue Flame from Natural Gas

(Dmitry Travin – www.opendemocracy.net – January 7, 2013) Dmitry Travin is Research Director at the European University in St. Petersburg’s Centre of Modernization Studies. The first eight years of the last decade were incredibly successful for Russia’s economy, but the crisis of 2008 hit hard and growth remains decidedly sluggish. Dmitry Travin wonders whether the country’s economy will ever be […]

» Read more

Russia Takes Pause After Incredible Year of Discoveries and Disappointments

New Year's Eve in Red Square with Crowd and Fireworks

(Eurasia Daily Monitor: Volume 10, Issue 1 – Pavel K. Baev – Jamestown Foundation – jamestown.org – January 7, 2013) Early January is a period of partying and hibernation in Russia. Yet, this pause also provides an opportunity to reflect on the incredible ups and downs of the past year. Designated by the Kremlin as a year of return to […]

» Read more

Electricity sector between a rock and a hard place: Year in Review

Electrical Yard file photo

MOSCOW. Jan 9 (Interfax) – Russia’s electricity sector in 2012 became a kind of blanket that was pulled in opposite directions by two opposing forces, which were personified by the government’s former and current tsars of the sector, Igor Sechin and Arkady Dvorkovich. They pulled on two, very large, corners – RusHydro and the combination of Federal Grid Company (FGC) […]

» Read more

Russian Consumer-Led Expansion to Slow in 2013, BNP Says

File Photo of Cash, Coins, Line Graph

(Bloomberg – bloomberg.com – Scott Rose – January 9, 2013) Russian consumer spending will continue to carry economic growth this year even as slower increases in incomes and borrowing damp household demand, according to BNP Paribas SA. “We see private consumption remaining the primary driver of GDP growth in 2013 and beyond,” Julia Tsepliaeva and Kirill Mavrin, economists at BNP […]

» Read more

Housing Problems Bother Russians Most – Poll

Cash, Calculator, Pen

MOSCOW, January 9 (RIA Novosti) ­ Most Russians consider the critical situation in the housing and utilities sector, inflation and low living standards and corruption as the most pressing problems in the country, a new poll revealed on Wednesday. The majority of respondents, 58 percent, said housing and utilities problems were their main concerns, according to the VTsIOM state pollster. […]

» Read more

2012 in Review: Russia Turns in on Itself

New Year's Eve in Red Square with Crowd and Fireworks

(Voice of America – Russian Service Crossfire – Donald N. Jensen – January 3, 2013) Russian state has struggled unsuccessfully since 1991 to reconcile ­three disparate, somewhat contradictory sources of legitimacy.  It portrays itself as democratic, but the trashing of the 1990s by the Putin regime deprives the current system of a founding myth.  During the Putin era there have […]

» Read more

Experts predict slowdown, stagnation for Russian economy in 2013

File Photo of Cash, Coins, Line Graph

(Interfax – Moscow, 29 December) According to economic experts interviewed by Interfax news agency, the lack of new economic ideas and structural reforms will impede Russia’s economic growth in 2013. The following is excerpt from report by privately-owned Russian news agency Interfax. Subheadings as published. The ending year has shown that the old drivers of growth are no longer working, […]

» Read more

Stability attracts investors, artists – Gref on Russian passport of Depardieu

Gérard Depardieu file photo

MOSCOW. Jan 4 (Interfax) – Political, economic and financial stability attracts investors and artists, Sberbank CEO German Gref told Interfax on Friday, speaking of Russian citizenship conferred to French actor Gerard Depardieu. “The Depardieu situation shows that financial, economic and political stability is frequently a key factor in the choice of the country by investors and artists. I think people […]

» Read more

Gerard Depardieu Glad To Get Russian Citizenship – TV

Gérard Depardieu file photo

MOSCOW, January 4 (RIA Novosti) – Legendary French actor Gerard Depardieu said he is glad to be granted Russian citizenship, adding that he loves Russia and promising to study the Russian language. “Yes, I have applied for a passport and I am glad my request has been granted,” Depardieu said in a letter to Russian journalists posted on the website […]

» Read more

Lithuanian Speaker Gedvilas Rebuts Clinton on Russia, Radio Says

File Photo of Hillary Rodham Clinton with Nazarbayev

(Bloomberg – bloomberg.com – Bryan Bradley – January 4, 2013) U.S. Secretary of State Hillary Clinton’s opposition to Russia’s growing economic might in Europe wasn’t practical, Vydas Gedvilas, the head of Lithuania’s new parliament, said in an interview with Russian radio. The international influence of Russian businesses is an economic reality that European countries must separate from politics and deal […]

» Read more

Russian diplomat sees possible ‘political risks’ in OECD entry talks

OECD Logo

(Interfax – January 2, 2013) Moscow does not rule out negotiations on Russia’s entry to the OECD may be accompanied by “political risks” linked to the case of Hermitage Capital lawyer Sergey Magnitskiy’s death, the director of the Russian Foreign Ministry’s economic cooperation department Aleksandr Gorban said, as reported by Interfax on 2 January. “These concerns are fair. There are […]

» Read more

NEWSLINK: You’re a Mean One, Mr. Putin; Was 2012 the year Russia’s president finally lost it? – Anders Åslund

Vladimir Putin file photo

[Foreign Policy – Anders Åslund – December 28, 2012 – http://www.foreignpolicy.com/articles/2012/12/28/Putin_orphans_Russia_crackdown] Anders Åslund examines the state of Russian politics, characterizing it as marked by repression, anger and a realization of a need for change but lacking a grasp of effective alternatives other than personal flight: … I have not found the mood in the Russian capital so depressed since the […]

» Read more

NEWSLINK: Russia rings in new year with ban on kiosk beer sales

New Year's Eve in Red Square with Crowd and Fireworks

(Russia rings in new year with ban on kiosk beer sales – AP – Jim Heintz – January 1, 2013 – Click here for full article) AP covers Russia’s abolition of sidewalk beer vending, as well as a Russian move to reclassify beer as alcohol rather than food: A big question in Russia in this year may be: “How do […]

» Read more

20 Georgian wine and mineral water producers preparing to resume exports to Russia

Georgia Map

TBILISI. Jan 1 (Interfax) – Twenty Georgian companies producing wine and mineral water are preparing to resume the deliveries of their output to the Russian market, head of the Center for Georgian-Russian Economic Cooperation Giorgy Seturidze told the press summing up the results of a Monday meeting with representatives of these companies. He said all technical questions related to the […]

» Read more

Greediness prevents Russian businesses from gaining foothold on foreign markets – diplomat

File Photo of Man Placing Stack of Large Bills into Inside Pocket of Suitcoat

MOSCOW. Jan 1 (Interfax) – Greediness often prevents Russian businesses from gaining a foothold on foreign markets, says Alexander Gorban, the director of the Russian Foreign Ministry’s economic cooperation department. “I would like to mention one significant difference between Russian and Western businesses: it is their desire to have a high profit margin,” Gorban said in an interview with Interfax. […]

» Read more

YEAR IN REVIEW: Cold war – state and private companies lock horns over Arctic shelf

Polar Map Showing Permafrost Areas, Adapted From NOAA.gov Graphic

MOSCOW. Dec 31 (Interfax) – The standoff between state and private oil companies over access to Russia’s continental shelf over the past year recalled the cold war of the early 1980s. It was also a combination of clashing ideologies and ambitions, coalitions of allies, war on the periphery, scare tactics, a search for compromises and absurdity. As in the cold […]

» Read more

Russians Anticipate Higher Wages, Higher Prices in 2013

File Photo of Cash, Coins, Line Graph

MOSCOW, January 1 (RIA Novosti) ­ Russians can expect to see their real wages rise in 2013, but along with that will come higher utilities tariffs, according to Economic Development Ministry forecasts. Take-home pay is set to rise 3.7 percent in 2013, the ministry forecasts, and the minimum wage is also expected to rise, although it will still lag significantly […]

» Read more

Magnitsky Play at Teatr.doc Hits Harder Than Ever

Memorial Flowers and Photo of Sergei Magnitsky

(Moscow Times – themoscowtimes.com – John Freedman – December 28, 2012) Some things remain relevant longer than you would expect. Take the death of Sergei Magnitsky. This muck-raking attorney was allowed to die in a Moscow prison in November 2009. That story was still making news when Teatr.doc opened a show called “One Hour Eighteen” in the early summer of […]

» Read more

Poor State of Housing Services Could Be Next Rallying Point

File Photo of Water Facet with Drop of Water Coming Out

(Moscow Times – themoscowtimes.com – Alexander Bratersky – December 27, 2012) Calls for honest elections and President Vladimir Putin’s removal might attract the urban middle class to rallies, but it is rusty pipes and the poor state of the utilities sector that might persuade thousands of disgruntled citizens of all classes to march in the streets. The possibility that higher […]

» Read more

Putin: Capital Outflow Is Russian Business Expansion Abroad

Cash, Calculator, Pen

MOSCOW, December 27 (RIA Novosti) ­ Officially registered capital outflow from Russia frequently reflects Russian business investment abroad, President Vladimir Putin said on Thursday. “As for capital outflow, this process is not viewed as simplistically as is frequently talked about. Capital outflow in our conditions does not mean direct capital flight,” he said. A substantial part of this capital is […]

» Read more

Governors should be responsible for quality of business climate in regions – Putin

Map of Russia

MOSCOW. Dec 27 (Interfax) – The heads of Russian regions ought to bear a political responsibility for their territories, President Vladimir Putin said. “Governors in the regions should bear a political responsibility for the quality of the business climate there. It is a test of his [governor’s] management skills,” Putin said at a State Council session on Thursday. “As for […]

» Read more

Putin Urges Regional Investment Roadmaps to Boost Economy

File Photo of Cash, Coins, Line Graph

MOSCOW, December 27 (RIA Novosti) ­ Russian regions should prepare regional investment roadmaps with clear-cut goals to attract investors and boost the county’s flagging economy, President Vladimir Putin said on Thursday. Putin made the statement at a meeting with Russian governors to discuss how to make the regions more appealing as investment destinations. Russia’s regions should demonstrate their potential to […]

» Read more

Russian-Language Textbooks Stir Controversy

Russian Duma Building

(Moscow Times – themoscowtimes.com – Patrick Reevell – December 26, 2012) A policeman says in Russian: “I work a lot, sometimes even too much. … Winter or summer, rain or shine, I go from a bank to a store, from a store to a restaurant, from a restaurant to a market, looking for where to take money.” What’s wrong with […]

» Read more

Medvedev Tackles Stimulus as Economy Slows

File Photo of Cash, Coins, Line Graph

MOSCOW, December 26 (RIA Novosti) ­ Prime Minister Dmitry Medvedev will chair a meeting on Wednesday on how best to tackle Russia’s slowing economic growth. “This year, Russia has seen falling growth in the major macroeconomic indices ­ gross domestic product, industrial output, and fixed capital investment,” the government press office said in a statement. Russia’s Economics Ministry has cut […]

» Read more

Russians have more confidence in authorities’ ability to make their life better – poll

Duma Session file photo

(Interfax – December 20, 2012) The approval ratings of Russian leaders grew in December after a minor decline in November, Levada Center told Interfax on Thursday. It held a nation-wide poll on Dec. 14-17. The approval rating of President Vladimir Putin stood at 65 percent in December, as against 63 percent in November and 68 percent in September, the sociologists […]

» Read more
1 53 54 55 56 57 59