(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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(Interfax – October 29, 2013) Russia should fully use the dispute settlement opportunities provided by the World Trade Organization (WTO), Prime Minister Dmitry Medvedev said. “It is important to correctly use the opportunities provided by WTO membership, to use the allowed mechanisms and procedures to furthest possible extent, including the WTO dispute settlement body,” he said at a conference devoted […]
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MOSCOW. Oct 28 (Interfax) – The average cost of a package of ritual services in Russia is now $830, Alexei Suloyev, chairman off the Guild of Ritual Service Organizations of the Moscow Chamber of Trade and Commerce, said. “Russia is at the bottom of the list for this indicator,” Suloyev said at an international conference of funeral business experts held […]
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(Window on Eurasia – Paul Goble – Staunton, October 28, 2013) Russian nationalists and others have regularly criticized Vladimir Putin for building an economy and hence a state that relies on the export of raw materials rather than the development of industry and investment in human capital. But now two of them have stepped up this attack and argued that […]
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(Moscow Times – themoscowtimes.com – Alexander Panin – October 25, 2013) Turkey is interested in joining the Customs Union of Russia, Belarus and Kazakhstan, and India also wants closer ties with the organization, President Vladimir Putin said at the EurAsian Economic Community summit in Minsk on Thursday. But some political analysts saw the summit in Minsk, which for the first […]
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(Moscow Times – themoscowtimes.com – Anatoly Medetsky – October 25, 2013) Gazprom has started to operate the first offshore field that it has developed on its own, in a test of its power to perform the challenging task without foreign partners. Sitting off the Pacific island of Sakhalin, the Kirinskoye field will feed natural gas to Asia, as demand from […]
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MOSCOW. Oct 24 (Interfax) – Russia will not close its market for goods from Ukraine if the latter signs an association with the European Union, but Ukrainian products will no longer enjoy benefits, Russian President Vladimir Putin said. There is a free-trade zone in the CIS of which both Russia and Ukraine are participants, he said at a press conference […]
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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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MINSK. Oct 25 (Interfax) – Russian President Vladimir Putin has stressed once again that Ukraine cannot be simultaneously an EU associated member and a Belarusian-Kazakh-Russian Customs Union member. Speaking to journalists in Minsk on Friday, Putin pointed out that the association agreement between Ukraine and the EU says that all possible integration associations Ukraine would wish to join in the […]
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MOSCOW. Oct 23 (Interfax) – Poverty, inflation, corruption and housing shortages are still the main headaches for Russians but migrant labor, which wasn’t on their list of typical worries eight years ago, has since become a serious national problem in their view. More people see ethnic relations as Russia’s main problem than in 2005. About one quarter of the population […]
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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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ST. PETERSBURG. Oct 22 (Interfax) – The Russian economy will have difficulties functioning without migrant workers, former Russian Finance Minister Alexei Kudrin said. “Russia will become a country with workforce deficit in the coming years…We currently cannot do without migrant workers. But migration should be regulated, it should be legal,” Kudrin told reporters in St. Petersburg on Tuesday during the […]
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WASHINGTON. Oct 22 (Interfax) – Russia needs to conduct extensive economic policy reform with the emphasis on attracting investment, pursue a firm budget policy and make more efficient use of resources as the post0crisis factors that drove economic growth in the country are now exhausted, the International Monetary Fund (IMF) said in its annual report on the Russian economy. “Growth […]
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MOSCOW. Oct 21 (Interfax) – The investment appeal of Russia’s Far East has been seriously hampered by Soviet stereotypes of economic regionalism with a focus on the European part of Russia, when the focus should be on the Asia-Pacific region, Far East Development Minister Alexander Galushka believes. “We’ve had to face a fairly large number of stereotypes in the formation […]
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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 – October 22, 2013) Russia’s state-owned development bank, VEB, agreed to borrow $1.9 billion from Chinese lenders, as part of Prime Minister Dmitry Medvedev’s visit to Beijing on Tuesday. But Medvedev used the occasion to call for more direct investment between the two countries, which would take economic ties up a notch, rather than relying on […]
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(Moscow Times – themoscowtimes.com – Gabrielle Tetrault-Farber – October 22, 2013) President Vladimir Putin and Indian Prime Minister Manmohan Singh met for bilateral talks in Moscow on Monday, signing a series of agreements to enhance economic and scientific cooperation, but failing to reach a consensus on the future of a Russian-operated nuclear power plant in southern India. Putin and Singh […]
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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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(Moscow Times – themoscowtimes.com – October 21, 2013) The introduction of the widely discussed new real estate tax that is set to replace the old system of levying fees on property with a market-oriented approach will not take place until 2015, a news report said. The bill was submitted to the government in August, but needs to be revised and […]
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(Interfax – MOSCOW, October 21, 2013) Russians have mixed feelings about the country’s development scenarios in the near future. Some are optimistic and others suggest pessimistic scenarios, the Russian Public Opinion Studies Center (VTsIOM) told Interfax on Monday. Over a third of Russians (36%) claim a hard period is in store for the country. Most of such opinions are voiced […]
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(Interfax – GORKI, October 21, 2013) Russia’s gross domestic product will grow 2% this year in the best-case scenario, Prime Minister Dmitry Medvedev told the consulting council for foreign investments in Russia in Gorki on Monday. “In the eight months of 2013, Russian GDP grew 1.5%, although in 2012 there was four and some percent. The expectation for growth [this […]
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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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(Interfax – KYIV, October 17, 2013) Some 53% of Ukrainians support entry into the European Union, 35% do not and 12% cannot make up their mind, according to the Rating sociological group, which held its poll on September 26 – October 6, 2013. In the opinion of 47% of the respondents, Ukraine will gain more from a free trade zone […]
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(Moscow Times – themoscowtimes.com – Anatoly Medetsky – October 18, 2013) Kaluga shines so brightly in the regional investment firmament that it has regularly drawn cheers from President Vladimir Putin and various economists. Some of the reasons why the region, 160 kilometers southwest of Moscow, is leading the way as a target for new business ventures include the decision by […]
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(Moscow Times – themoscowtimes.com – Sam Skove – October 18, 2013) When Nuri Katz, founder of investment firm Apex Capital, heads for the customs gate, he gets to decide which of his three passports to use – a privilege that his Russian clients would pay up to 5 million euros to enjoy. Katz is in the citizenship-by-investment business. Select […]
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(Interfax – MOSCOW, October 17, 2013) New Audit Chamber Chairman Tatiana Golikova says she plans to use her experience as a financier when planning changes to the work of the chamber. “I think there will be changes. If only because I have been professionally engaged in finance all my life and I have my own opinion on what to look […]
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(Business New Europe – bne.eu – Ben Aris in Moscow – October 17, 2013) Russia’s growth over the first nine months of this year was 0%, Deputy Economic Development Minister Andrei Klepach said on October 15. While the rest of the world is fixated on trying to spur growth, the Kremlin is largely ignoring the problem of its stagnating economy, […]
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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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(Interfax – MOSCOW, October 16, 2013) The Russian economy is still stagnating, with zero GDP growth in Q3 this year on a seasonally adjusted basis, Deputy Economic Development Minister Andrei Klepach said at a meeting of the State Duma’s budget committee. “The forecast was that we would reverse the tendency for economic growth to slow and this stagnation, which we […]
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(Moscow Times – themoscowtimes.com – Lena Smirnova – October 16, 2013) With new rules simplifying registration of automobiles going into effect Tuesday, the country’s rapidly growing number of motorists will find the time and paperwork it takes to buy and sell a vehicle greatly reduced, while cost of ownership is on the increase. From Oct. 15, motorists no longer need […]
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(Bloomberg – bloomberg.com – Ekaterina Shatalova and Nicholas Brautlecht – October 15, 2013) Vladimir Putin is inching closer to his goal of turning Russia into a major transit route for trade between eastern Asia and Europe by prying open North Korea, a nuclear-capable dictatorship isolated for half a century. Russia last month completed the first land link that North Korea’s […]
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(RIA Novosti – MOSCOW, October 16, 2013) Russia is drafting changes to the law that will bar foreigners from owning or renting real estate in the country without official permission, a state-owned newspaper said Wednesday. The Economic Development Ministry told Rossiiskaya Gazeta that it is in consultation about the legislation with law enforcement and migration agencies including the Federal Security […]
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(Interfax – MOSCOW, October 16, 2013) Macroeconomic factors will work to push oil prices down next year, Deputy Economic Development Minister Andrei Klepach said during a meeting the State Duma budget committee. Klepach said that that, in the forecast for Russia’s socioeconomic development in 2014-2016, there is built in the hypothesis “that the rather high oil prices we are seeing […]
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(Interfax – MOSCOW, October 15, 2013) A relative majority of Russians thinks that the national economic situation is deteriorating, and a third claims an economic crisis has already started, the Public Opinion Foundation said. Some 40% of the respondents polled in October alleged economic deterioration; the indicator stood at 28% two years ago. Discontent was expressed primarily by the respondents […]
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(Moscow Times – themoscowtimes.com – October 15, 2013) President Vladimir Putin has submitted to the State Duma a bill that would restore the right of investigators to open tax fraud cases without a request from the tax authorities a move that critics fear could lead to a renewed persecution of business executives, a news report said Tuesday. If approved, […]
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(RIA Novosti – MOSCOW, October 15, 2013) Moscow has no plans to dissuade Kiev from signing a free-trade deal with the European Union, a Russian government spokesman said ahead of Tuesday’s meeting between Russian and Ukrainian premiers. Russian Prime Minister Dmitry Medvedev will meet with his Ukrainian counterpart Mykola Azarov in Kaluga, a city some 150 kilometers (93 miles) […]
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(Interfax – MOSCOW, October 14, 2013) Russian First Deputy Prime Minister Igor Shuvalov chaired a meeting last week where it was decided that Russia would set up a Federal Copyright Service, Izvestia newspaper reported Monday. “The new structure will offer government services to register and protect intellectual property, legal regulation, supervision and coordination of authorities in this area,” the paper […]
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(Interfax – MOSCOW, October 14, 2013) Using reserve funds to support major investment projects and small and medium businesses can accelerate economic growth slightly for a few months, but an innovative model of growth needs to be implemented in the long-term, Deputy Prime Minister Arkady Dvorkovich said at a briefing for the upcoming Open Innovations international forum in Moscow. The […]
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(RIA Novosti – Natalia Antonova, Acting Editor-in-Chief of The Moscow News – October 15, 2013) There is a kind of sad poetry to Moscow’s working class neighborhoods. The box-like Khrushchev-era buildings that seem like gigantic children’s toys rather than real housing, the hilariously poor grammar on thousands of tacked up advertisements, the cracked pavement, the whispering trees, and the stars […]
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(RIA Novosti – MOSCOW, October 14, 2013) Some 57 percent of Russians feel that life is hard but bearable, according to a new survey, five percentage points higher than in 2011. According to new poll results released by the independent Levada Center on Monday, 25 percent of respondents said that the phrase “things aren’t that bad, it’s livable” best […]
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(Moscow News – themoscownews.com – Natalia Antonova, Acting Editor-in-Chief – October 11, 2013) The issue of income inequality in Russia is nothing new. We are used to noting it – then filing it away somewhere as we get on with the rest of our lives. Rich people exist everywhere after all and it’s not as if the United States, to […]
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(RIA Novosti – MOSCOW, October 13, 2013) Russian Prime Minister Dmitry Medvedev has ordered a cull of federal officials in the regions ahead of an upcoming three-year state budget crunch. Medvedev did not give any estimates for the number of officials facing the sack in 2014-2015 in his order, published on the government’s website on Sunday. The cull, to […]
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(Interfax – MOSCOW, October 11, 2013) Russia’s Internet economy will continue to grow at a rate of 3-6% annually even if there is a global crisis, the head of the Russian Association for Electronic Communications (RAEC), Sergei Plugotarenko told reporters. “In preparing the study Runet Economy 2012-2013, we prepared four scenarios for the Internet economy’s development: innovation, stabilization, negative and […]
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(RIA Novosti – MOSCOW, October 12, 2013) The Russian government will not revise its policy of investing almost half of the country’s foreign exchange reserves in US Treasury securities despite growing fears of a looming US debt default, Russian Finance Minister Anton Siluanov said. “I don’t see the need for changing our reserve investment strategy at present,” Siluanov told […]
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(Bloomberg – bloomberg.com – Helena Bedwell – October 14, 2013) Georgia regained access to Russian markets for its fruit, vegetable and nut exports, seven years after its northern neighbor banned the produce, according to the Black Sea country’s National Food Agency in Tbilisi. Russian inspectors have carried out sanitation checks in Georgia, Giga Kurdovanidze, a spokesman for the agency, said […]
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(Bloomberg – bloomberg.com – Olga Tanas & Scott Rose – October 14, 2013) Russia’s central bank left its main lending rate unchanged for a 13th month and removed a signal that it will keep monetary policy on pause as inflation dropped into its target range for the first time since August 2012. Bank Rossii left the one-week auction rate, its […]
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(Bloomberg – bloomberg.com – Jeremy Hodges – October 14, 2013) Hermitage Capital Management founder William Browder won the dismissal of a U.K. libel case filed by a former Russian policeman accused of playing a part in the 2009 death of legal and tax adviser Sergei Magnitsky. Judge Peregrine Simon ruled that the U.K. wasn’t the right jurisdiction for the ex-policeman, […]
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(RIA Novosti – MOSCOW, October 14, 2013) Almost one-quarter of government spending in Russia is to become classified within the next three years, according to findings by a Moscow research institute that will raise concerns of decreasing economic transparency in a country already plagued by corruption. Vedomosti business daily said in a report Monday, citing a study by the […]
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(opendemocracy.net – Andrei Kolesnikov – October 10, 2013) Moscow based journalist, editor of the op-ed section of Novaya Gazyeta, columnist of the Vedomosti daily and www.gazeta.ru web magazine. Author of three books, including biography of controversial politician Anatoly Chubais Like a crippled Dreamliner, the Russian economy is slowing to a standstill; the bureaucrats are ignoring instructions; even the scientists are […]
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(Bloomberg – bloomberg.com – Ilya Arkhipov & Henry Meyer – October 11, 2013) President Vladimir Putin’s human rights adviser urged prosecutors to drop piracy charges against Greenpeace activists for an Arctic protest, saying it’s as stupid as accusing them of raping the oil platform they scaled. “These charges are laughable because there isn’t the slightest justification for accusing the crew […]
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