(Interfax – MOSCOW/KAZAN, September 17, 2013) Russia could cut budget expenditure by more than 1.2 trillion rubles in the next three years. Some of this as well as money saved by other means may be redistributed or used for other priorities. Cutting and maneuvering The Kommersant newspaper said the Russian Finance Ministry was proposing to slash budget spending by more […]
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(Interfax – MOSCOW. September 17, 2013) Over 500 people have been pardoned under the economic amnesty declared in July 2013 by the Russian State Duma, the office of Russian business ombudsman Boris Titov said. “As of September 16, the number of individuals, to whom the State Duma’s decree On Declaring Amnesty from July 2, 2012 was applied, is 525 people,” […]
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(RIA Novosti – MOSCOW, September 18, 2013) Russia’s gross domestic product (GDP) is growing too slowly to pull the country out of its worst economic situation since the 2008 global financial crisis, the country’s economic development minister said Wednesday, and the stagnation is unlikely to improve in 2014. Alexei Ulyukayev said during a “government hour” meeting in the State Duma […]
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(RFE/RL – rferl.org – Richard Solash – WASHINGTON, September 18, 2013) As shady Russian businessmen snapped up luxury apartments in New York, lawyer Sergei Magnitsky was confined to the few square meters of a Moscow jail cell. He would die there under suspicious circumstances in 2009 after revealing a scheme by a circle of high-ranking government officials and associates to […]
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(Bloomberg – bloomberg.com – Leonid Bershidsky, an Editor and Novelist, is a Bloomberg View contributor – September 17, 2013) If you’ve ever wondered about the size of Russian President Vladimir Putin’s private fortune, allow me to offer a clue: He doesn’t need one. From time to time, Western journalists and bloggers speculate about whether Putin is one of the world’s […]
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(Interfax – MOSCOW, September 16, 2013) Capital outflow from Russia is not yet slowing but the ruble will not weaken to any great extent, even if oil prices fall, Deputy Economic Development Minister Andrei Klepach told Interfax. “The ruble will not weaken substantially even if oil prices fall markedly. The Central Bank (in that event) will lose more reserves,” Klepach […]
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(Moscow Times – themoscowtimes.com – Guennadi Moukine – September 17, 2013) Moscow jobs pay 40 percent more compared to similar positions in regional centers, but wage growth has remained stagnant in the last five years across all regions in the country, according to findings from international consulting firm Hay Group. A five-year overview of Russia’s employment market demonstrated no growth […]
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(Russia Beyond the Headlines – rbth.ru – Artem Zagorodnov, RBTH – September 17, 2013) The reset may be over, but business leaders hope that trade ties do not have to be completely dependent on the whims of Washington and Moscow. Russian Innovation Week, which has started today in Boston and would continue this week in Silicon Valley, is the latest […]
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(Howard Amos, RIA Novosti – VALDAI, September 16, 2013) Russian officials, opposition leaders and pundits wrestled on Monday with the disjuncture between the country’s capital and its far-flung provinces at an international conference, where two erstwhile political rivals from the mineral-rich Urals region surprised observers by publicly settling their differences. The newly elected mayor of Yekaterinburg and outspoken Kremlin […]
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(Russia Beyond the Headlines – rbth.ru – Tatyana Lisina, special to RBTH – September 12, 2013) Cartels have appeared in nearly every sector of the Russian economy. The Federal Antimonopoly Service of Russia has detected or suspects price-fixing agreements in sectors ranging from the fishing, alcohol and meat industries, to medical care, transportation and notary services. Over the last 15 […]
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(Russia Beyond the Headlines – rbth.ru – Artem Zagorodnov, RBTH – September 16, 2013) The fight against graft has emerged as a rallying cry for Russia’s nascent opposition, yielding victories in local elections. The Kremlin agrees with its critics about the problem. Analysts hope the business climate stands to benefit. Dmitry Bykov, the charismatic Russian TV host-turned-opposition leader, stepped to […]
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(Moscow Times – themoscowtimes.com – September 16, 2013) As fears about the Syrian conflict recede, equity fund flows have increased to most emerging markets, excluding Russia, Emerging Portfolio Fund Research, or EPFR, said in a report. According to EPFR, investors channeled $2.6 billion to emerging markets last week, a weekly maximum since February, but pulled $235 million out of Russia, […]
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(Interfax – BRUSSELS, September 13, 2013) Russia is not planning to put pressure on any state or drag it forcibly into any association because of its relations with the EU’s Eastern Partnership, Russian envoy to the European Union Vladimir Chizhov told Interfax on Friday. “Our partners, primarily European parliamentarians, are unfortunately deeply misled on this. It is not about Russia’s […]
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(Interfax – MOSCOW, September 12, 2013) Business ombudsman Boris Titov believes the issue of criminal prosecution of businessmen is blown out of proportion, although law enforcement agencies are frequently biased against businessmen. “Statements made in the press sometimes blow the issue out of proportion. Statistically, it’s not 300,000 people who have been prosecuted. A little more than 13,000 people, including […]
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(Moscow Times – themoscowtimes.com – September 13, 2013) Rosneft president and Kremlin insider Igor Sechin is facing accusations of corporate misconduct that could be reviewed by the Russian Union of Industrialists and Entrepreneurs, or RSPP, within a week, a news report said Friday. Gennady Osorgin, a minority shareholder in the Rosneft-owned TNK-BP Holding, sent a complaint regarding Sechin to RSPP’s […]
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(Kremlin.ru – Bishkek, September 13, 2013) PRESIDENT OF RUSSIA VLADIMIR PUTIN: Heads of state of the Shanghai Cooperation Organisation member countries, heads of state of observer countries, high representatives and summit guests, The Shanghai Cooperation Organisation has been working for more than a decade now and has achieved some big results. It has established its place as an influential international […]
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(Interfax – NOVO-OGARYOVO, September 11, 2013) Russia needs to have a growth budget in 2014-2016 despite the difficulties in the global economy, President Vladimir Putin said at a meeting on drafting the budget for the next three years. “We need to soberly assess the situation and bring revenue and spending into line with the economic growth forecast that is shaping […]
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(Interfax – NOVO-OGAREVO, September 11, 2013) Russian President Vladimir Putin said he saw elements of stabilization in the world economy and that he was not expecting a crisis. This is the first time the budget is being drafted by the programming principle, Putin said at a meeting on budget projections for the period 2014-2016. “The second specific aspect is that […]
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(Moscow Times – temhoscowtimes.com – Anatoly Medetsky – September 12, 2013) President Vladimir Putin on Thursday appointed business lobbyist Alexander Galushka as Far East Development Minister, completing the staff changes meant to spur investment in a region sitting next to major Asian powerhouses. A co-chairman of business association Delovaya Rossia, Galushka will work in tandem with Deputy Prime Minister Yury […]
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(Business New Europe – bne.eu – Ben Aris – September 11, 2013) How much does the rest of the world hate Russia? Answer: a lot. This excerpt below is part of an internal memo by a major US bank, which will remain nameless, to clients on the results of the Moscow mayoral elections at the weekend. What is supposed to […]
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(Russia Beyond the Headlines – rbth.ru – Tatyana Lisina, special to RBTH – September 9, 2013) A mega regulator of the entire financial market began work in Russia on Sept. 1. According to experts, this will have a positive impact on the economy as a whole and increase Russia’s investment attractiveness. On Sept. 1, the Central Bank of the Russian […]
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(Russia Beyond the Headlines – rbth.ru – Pavel Vasiliadi, Analyst at the UFS Investment Company, special to RBTH – September 10, 2013) Economist Pavel Vasiliadi describes how Russia has more options than most of its G20 peers in choosing to either save or spend its way out of the crisis. In the debate on international financial architecture, Russia, having picked […]
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(Moscow Times – themoscowtimes.com – Irina Filatova – September 10, 2013) The Russian economy might see a slight pickup by the end of this year driven by expanding investment and a possible easing of monetary policy by the Central Bank, according to the latest forecast by Morgan Stanley presented Monday. The GDP growth is likely to expand by 2.2 percent […]
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(Business New Europe – bne.eu – Ben Aris in Moscow – September 10, 2013) In the face of persistently high inflation and capital outflows, the Russian government has decided to freeze energy tariffs, which will give the economy a short-term boost, but will also stymie the long-term development of the economy. Times are tough in Russia after economic growth dropped […]
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(Interfax – GORKI, September 9, 2013) A group of lawyers has arrived at the conclusion that the normative bases of the European Union and Customs Union are incompatible, and that if Ukraine joins the EU free trade zone it will not be able to take on Customs Union obligations, Russian First Deputy Prime Minister Igor Shuvalov has said. “The conclusion […]
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(Interfax – MOSCOW, September 9, 2013) Russia was subject to 74 trade restrictions imposed by 17 countries as of September 1. These included 40 anti-dumping duties, Deputy Economic Development Minister Alexei Likhachev told reporters. Likhachev said anti-dumping proceedings in the EU against Russian goods were particularly noteworthy as the EU disregards the price of gas in Russia and uses its […]
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(RIA Novosti – MOSCOW, September 9, 2013) Presidential aide and former health minister Tatyana Golikova was nominated by President Vladimir Putin Monday to head Russia’s Audit Chamber, the Kremlin said. Golikova was selected by Putin from a pool of three candidates for the position put forward by a State Duma commission that also included Sergei Stepashin, the Chamber’s head […]
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(Moscow Times – themoscowtimes.com – Alexander Panin – September 9, 2013) On the eve of elections, Prime Minister Dmitry Medvedev gave the government three days to prepare a feasibility study on how a possible freeze on natural monopolies’ prices next year might affect economic growth and business in general. The Cabinet on Friday was ordered to evaluate by Monday the […]
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(Kremlin.ru – St Petersburg, September 6, 2013) Vladimir Putin took part in the second working session of heads of delegations of G20 countries, invited countries, and international organisations. The summit participants discussed investment and job creation, among other issues. The discussion then continued in working breakfast format with the participation of invited heads of state and international organisations. * * […]
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(Kremlin.ru – St Petersburg, September 5, 2013) Among other things, the latest global economic trends and financial regulation issues were discussed during the first working meeting themed Growth and Financial Stability. The G20 summit’s work officially began with Vladimir Putin’s welcome speech as he addressed the invited heads of state and government. * * * Speech at working session of […]
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(Kremlin.ru – St Petersburg, September 6, 2013) Vladimir Putin summed up the results of the G20 Summit and answered journalists’ questions. PRESIDENT OF RUSSIA VLADIMIR PUTIN: Ladies and gentlemen, friends! To start with, I’d like to say that in the five years of its existence the G20 has really become an effective mechanism for elaborating and coordinating common approaches to […]
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(Interfax – STRELNA, September 6, 2013) A comprehensive approach, including higher investment in the economy, is needed to tackle unemployment, Russian President Vladimir Putin said at a working meeting during the G20 summit. “Employment policy cannot and must not be the concern only of the government bodies responsible for social policy. Clearly, real changes in the sphere of labor and […]
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(Moscow News – themoscownews.com – September 4, 2013) Faced with state interference and a too-heavy focus on military production, Russia’s aircraft manufacturing industry stands at a crossroads, when competitiveness can either be regained after its Soviet heyday or lost. This is the conclusion of a report by the analytical firm Strategy Partners Group, released ahead of last week’s MAKS airshow […]
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(Moscow Times – themoscowtimes.com – Irina Filatova – September 6, 2013) A military strike in Syria would have a destructive effect on the global economy, sending oil prices up, China warned in a gesture of support to President Vladimir Putin, the host of the Group of 20 summit that began in St. Petersburg on Thursday. “Military action would have a […]
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(Moscow News – themoscownews.com – Nathan Gray – September 6, 2013) While Syria lurked in the background of the G20 leaders’ summit, which opened on Thursday, official discussions had their focus firmly on economic issues. The conflict in Syria, however, did occasionally come to the foreground. President Vladimir Putin himself raised the topic at the end of his opening address, […]
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(Interfax – STRELNA, September 4, 2013) Former Russian Finance Minister Alexei Kudrin, who currently chairs the Committee on Civil Initiatives, does not anticipate any serious changes to the ruble’s real exchange rate in the next three to four years. “I don’t expect any major changes in the fate of the ruble. If you look at the official forecast, many might […]
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(Moscow Times – themoscowtimes.com – Vladimir Goryachev and Oleg Sukhov – September 3, 2013) Mayoral candidate Alexei Navalny has voiced support for an economic amnesty and a windfall tax on some privatized assets at a high-profile meeting with businessmen and top executives, Vedomosti reported. The event was the first public meeting with entrepreneurs during Navalny’s campaign, with the previous ones […]
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Date: Fri, 23 Aug 2013 From: Vladimir Shlapentokh <shlapent@msu.edu> Subject: New book: Freedom, Repression, and Private Property in Russia. Hardcover,Cambridge University Press, 2013 Freedom, Repression, and Private Property in Russia Hardcover, Cambridge University Press, 2013 by Vladimir Shlapentokh (Author), Anna Arutunyan (Author) This study demonstrates how the emergence of private property and a market economy after the Soviet Union’s collapse […]
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(Interfax – MOSCOW, August 29, 2013) Russia denies allegations that it is forcing Ukraine to join the Belarusian-Kazakh-Russian Customs Union and urges the EU not to misinterpret the essence of the matter. “We are not forcing any decisions on Ukraine, and it is for the Ukrainian leadership and the Ukrainian people to make them on their own. We are being […]
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(Moscow Times – themoscowtimes.com – August 29, 2013) Mikhail Fedotov, head of the Presidential Council for Human Rights, has proposed introducing a broader amnesty for economic crimes in addition to the one that began in July, Kommersant reported Wednesday. He said the amnesty should be prepared for the 20th anniversary of the Russian Constitution in December. Fedotov said the first […]
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(Moscow Times – themoscowtimes.com – Anatoly Medetsky – August 29, 2013) Ukrainian Prime Minister Mykola Azarov on Wednesday signaled that his country would not back out of its push toward free trade with the European Union despite Russian pressure. Azarov’s statements at a meeting of his Cabinet follow a brief spell of sweeping checks for Ukrainian imports in Russia, which […]
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(RIA Novosti – MOSCOW/MINSK, August 29, 2013) Russia hit back at two mainstays of the Belarusian economy this week after Minsk arrested the head of Russia’s largest fertilizer company, imposing cuts on oil exports and threatening food imports in moves that it insists have no connection to the arrest. Russian oil pipeline monopoly Transneft announced plans Wednesday to cut […]
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(Interfax – August 28, 2013) Russian President Vladimir Putin said important decisions are expected to be made in the sphere of investment stimulation at the G20 summit scheduled to take place in St. Petersburg. “A roadmap for the financing of long-term investment has been created. It will be implemented during the years of Australia’s chairmanship [of the G20]. The principles […]
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(Business New Europe – bne.eu – August 28, 2013) The Kremlin’s drive to increase transparency and limit the amount of money held in offshore havens could be extended to companies, which will be forced to declare an overseas status. Duma deputy Dmitry Savelyev for the ruling United Russia Party, has submitted a bill, which would oblige the companies to inform […]
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(Kremlin.ru – August 28, 2013) [The official website of the Russian G20 presidency http://en.g20russia.ru/] PRESIDENT OF RUSSIA VLADIMIR PUTIN: This year marks the G20’s 5th anniversary. At the peak of the crisis the G20 members agreed on coordinated measures to support the global economy. We made the commitment to curb trade protectionism, developed new principles of financial regulation, and defined […]
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(Russia Beyond the Headlines – rbth.ru – Marina Obrazkova, RBTH – August 26, 2013) A third of Russians think raising children gets in the way of having a successful career. People younger than 24 years of age are putting career before family, a poll by major recruiting web portal Superjob showed. Experts are not surprised and believe the trend is […]
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(Interfax – MOSCOW, August 27, 2013) The growth of Russia’s gross domestic product could quicken to 1.9% in the third and 2.2% in the fourth quarters, Deputy Economic Development Minister Andrei Klepach told the press. “We have revised the GDP growth forecast for the third quarter to 1.9%, for the fourth to 2.2%, Klepach said, noting that second-half growth generally […]
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(Russia Beyond the Headlines – rbth.ru – Ilya Dashkovsky, special to RBTH – August 26, 2013) Railways across Siberia and the Far East might become alternatives to the sea route. An ambitious program of railway expansion in Russia’s Far East opens up the prospect of creating rapid new trade routes between Asia and Europe. At least $17bn is to be […]
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(opendemocracy.net – Mikhail Loginov – August 24, 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”. Lake Baikal, the largest freshwater lake on the planet, is part of Russia’s DNA, and many romantic ballads sing of its size and beauty. Beyond the lake […]
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(Interfax – MOSCOW, August 23, 2013) Around 2.5 million liters of wine have been delivered by Georgia’s enterprises to the Russian market since Russia lifted its ban on Georgian wine imports, Gennady Onishchenko, head of the consumer rights watchdog Rospotrebnadzor and Russia’s chief epidemiologist, told Interfax on Friday. “A total of 690 shipments of alcohol products weighing more than 2.4 […]
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