Category: Economy, Business, Investment, Trade

Money to be made for small businesses in Russia; Can foreigners start their own business in Russia? In what spheres is there more money to be made?

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Russia Beyond the Headlines – rbth.ru – Maria Shpigel, special to RBTH – July 30, 2013) Against the background of crises in the developed economies, Russia, with its high oil revenues, looks promising for the development of the services sector. The majority of micro and small enterprises operate in the services sector, because it is here that the cost of […]

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Over half of Russians uncertain of tomorrow – poll

Economy, Business, Investment, Trade, Health, Epidemics, Substance Abuse, Life in Russia, Culture, Arts
Kremlin and St. Basil's

(Interfax – MOSCOW, July 29, 2013) One in two Russians gives three (out of five) to the existing economic situation in the city, town or village where the respondent lives, the majority do not feel confidence in tomorrow and their social activity is decreasing, Levada Center sociologists told Interfax. According to the results of the poll held on July 18-22 […]

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TRANSCRIPT [Putin]: Orthodox-Slavic Values: The Foundation of Ukraine’s Civilisational Choice conference

CIS, Customs Union, Eurasian Union, Economy, Business, Investment, Trade, History, Soviet Union, Religion, Ukraine, Russo-Ukrainian War
File Photo of Ukrainians with Ukrainian Flag in Public Square Near Tower with Golden Dome

(Kremlin.ru – July 27, 2013) Vladimir Putin took part in the conference called Orthodox-Slavic Values: The Foundation of Ukraine’s Civilisational Choice. PRESIDENT OF RUSSIA VLADIMIR PUTIN: Good afternoon, friends, I just said goodbye before to President of Ukraine Mr Yanukovych. You also sent him your best wishes. Unfortunately, he has a strict schedule with a lot of events to attend: […]

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Corruption, concerns about judicial system may impact Russian investment climate – EESC head

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Cropped File Photo of Two Men in Business Suits Shaking Hands and Passing Cash

(Interfax – MOSCOW, July 27, 2013) Opacity of the Russian judicial system and corruption may influence investors’ decisions to enter the Russian market, European Economic and Social Committee (EESC) President Henri Malosse said. “Today investors indeed may feel some trepidation for reasons that are linked to the reliability of the Russian judicial system, as well as for reasons of corruption,” […]

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Sharapova Tops Forbes’ Russian Celebrities List Again

Economy, Business, Investment, Trade, Sports, Olympics, World Cup
Cash, Calculator, Pen

(RIA Novosti – MOSCOW, July 25, 2013) ­ Tennis star Maria Sharapova has regained first place on a list of the most popular and richest Russian celebrities published by the Russian edition of Forbes magazine Thursday. The Forbes rating of Russia’s top 50 celebrities is compliled according to a combination of factors including annual income, print media coverage and hits […]

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Credit card fraud in Russia 10-times less than elsewhere

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
File Photo of Man Placing Stack of Large Bills into Inside Pocket of Suitcoat

(Business New Europe – bne.eu – July 25, 2013) Despite its image as a den of high tech thieves international credit card company VISA reports that fraud in Russia is 10-times less than in its other markets. The company said that card fraud in Russia costs it 5 kopecks per 1,000 annually, a tenth of the company’s global average, VISA […]

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Spending Abroad by Russians to Hit $42 Billion in 2013

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Moscow Times – themoscowtimes.com – July 25, 2013) Russians will spend 1.7 trillion rubles ($42 billion) abroad in 2013, which represents an increase of 13 percent over last year according to an annual study Citibank released Thursday, though half that amount is being spent online. But while spending abroad continues to increase annually, growth is slowing down in some categories. […]

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Medvedev Blasts Weak Competition in Russian Economy

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Dmitry Medvedev file photo

(RIA Novosti – MOSCOW, July 25, 2013) ­ Competition in the Russian economy is still weak, which is hindering the development of small and medium-sized businesses in the country, Prime Minister Dmitry Medvedev said Thursday. “Our anti-monopoly legislation is quite strict, while competition is still weak,” Medvedev told a government meeting. The prime minister said problems remain on raw material […]

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Soviet ruble was destroyed brutally, in one day

Economy, Business, Investment, Trade, History, Soviet Union
File Photo of Cash, Coins, Line Graph

(Pravda.ru – Margarita Troitsyna – July 24, 2013) On July 24, 1993, 20 years ago, the Central Bank of Russia announced the withdrawal of Soviet banknotes from circulation. From that day, Soviet cash was no longer valid on the territory of Russia. The reform was carried out to curb inflation in the country, but it caused huge panic in the […]

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Russia typifies link between high interest rates and corruption

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Cropped File Photo of Two Men in Business Suits Shaking Hands and Passing Cash

(Business New Europe – bne.eu – Ben Aris in Moscow – July 25, 2013) Corruption in Russia has helped drive up interest rates on loans to the point where it’s choking off economic growth. “Rates are high now and that makes it hard to do business,” Garegin Tosunyan, head of the Russian Association of Banks, said at the St Petersburg […]

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McDonald’s sales growth in Russia tops U.S., Europe

Economy, Business, Investment, Trade, United States, U.S.-Russian Relations
File Photo of Russian McDbnald's Crew with U.S. Diplomat

(Russia Beyond the Headlines – rbth.ru – Maria Balyuk, special to RBTH – July 22, 2013) In 2012, the McDonald’s fast food restaurant chain increased its sales in Russia by 19.6 percent, SPARK-Interfax reported. Although growing costs prevented the burger chain from scoring a more successful year than 2011, McDonald’s has remained one of the most successful restaurant operators in […]

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How to start a small business in Russia

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(Russia Beyond the Headlines – rbth.ru – Witold Jancszys, special to RBTH   – July 23, 2013) The business landscape in Russia has changed in the last decade and, now, more and more foreign nationals are starting businesses in the country, attracted to the opportunities for growth and space for new ideas in the Russian market. Foreign entrepreneurs doing business in […]

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No economic amnesty to Russian opposition leader, tycoon yet – ombudsman

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
Boris Titov file photo

(Interfax – July 23, 2013) Russia’s business ombudsman Boris Titov, who proposed the idea of economic amnesty, has said that it is difficult to grant it now to opposition leader Aleksey Navalnyy and former Yukos head Mikhail Khodorkovskiy from the legal standpoint. Titov said this at a news conference in Moscow on 23 July, as reported by Russian news agency […]

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Putin 3.0: The Economic Plan – Russian Analytical Digest new issue announcement

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and Moscow Environs Aerial View

Subject: No. 133: Putin 3.0: The Economic Plan Date: Tue, 23 Jul 2013 From: “Russian Analytical Digest (RAD)” <newslist@isn.ch> RUSSIAN ANALYTICAL DIGEST Newsletter 18 July 2013/No. 133 PUTIN 3.0: THE ECONOMIC PLAN To download this issue please click here: http://www.css.ethz.ch/publications/DetailansichtPubDB_EN?rec_id=2626 Analyses The Political Economy of Putin 3.0, by Peter Rutland, Middletown, CT Economic Growth and Strategies for Economic Development in […]

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Investment Standards Face Hurdles

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Regions, Cities, Municipalities
Map of Russia

(Moscow Times – themoscowtimes.com – Peter Hobson – July 22, 2013) The Russian government faces an uphill struggle to make underdeveloped regions more attractive for investors. Officials and business leaders disagree on the feasibility of a draft set of mandatory standards designed to improve the investment attractiveness of districts and towns, which are set to enter into force by 2014. […]

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Leading Russian Economist Slams Medvedev’s Move To ‘Police’ State Companies

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Empty Boardroom

(RIA Novosti – Moscow, July 22, 2013) Head of research at the Higher School of Economics Yevgeniy Yasin has described the Russian government instruction placing heads of state companies under obligation to account for their income and spending on par with officials as “absolute piffle”. Instead of building these mechanisms, one should continue the course to privatization, the economist has […]

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Moscow Named Second Most Expensive City for Expats

Economy, Business, Investment, Trade
Cash, Calculator, Pen

(RIA Novosti – MOSCOW, July 23, 2103) ­ Moscow was ranked the world’s second most expensive city for expatriates in this year’s Mercer Human Resource Consulting survey, published Tuesday. Moscow follows Angolan capital Luanda as the second most expensive city because of high costs for rental accommodation ­ a luxury two bedroom unfurnished apartment rental for one month in the […]

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June investment slowdown troubling, but GDP growth forecast unchanged – Ulyukayev

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Interfax – KALUGA, July 23, 2013) Russian Economic Development Minister Alexei Ulyukayev considers the 2.4% slump in investments in fixed capital in June, factoring in seasonal and calendar factors, is a worrisome sign, but there is an improvement trend and the 2.4% GDP growth forecast is not changing. “Generally, of course, the sign is troubling,” Ulyukayev told the press on […]

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First 13 Businessmen Released in Economic Amnesty

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Russian Jail File Photo Showing Outer Wall, Windows, Barbed Wire

(RIA Novosti – MOSCOW, July 23, 2013) ­ The first thirteen businessmen have been set free in Russia as part of an economic amnesty for white-collar criminals that came into effect earlier this month, business ombudsmen Boris Titov said Tuesday. “As of now, 13 people have been released under the amnesty,” Titov told reporters. Eight people have left pre-trial detention […]

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Universities ignore economy’s demands; Russian institutions produce too many lawyers and economists, not enough IT specialists

Economy, Business, Investment, Trade, Education, Academia, Science, Technology, Engineering
Moscow State University

(Russia Beyond the Headlines – rbth.ru – Lyudmila Nazdracheva, special to RBTH – July 22, 2013) Almost 6 percent of Russian university graduates register at the unemployment office immediately after graduating. Lawyers lead the way in this area. There is also an excess of economists, real estate agents, travel managers, civil engineers, bankers, teachers and psychologists. Russian universities are still […]

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G20 finance ministers agree on priorities in Moscow

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas
File Photo of Russia-Hosted G20 Banners Outdoors Before Yellow and White Facade of Historic-Looking Building

(Russia Beyond the Headlines – rbth.ru – Yuri Paniyev, special to RBTH – July 23, 2013) The G20 financial meeting in Moscow on July 19-20 focused on economic growth, unemployment rates and tax evasion by multinational companies. Russia, playing host for the event, was placed in the position of arbiter between emerging and developed countries. At a meeting in Moscow […]

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G20 Ministers Focus on Tax Evasion, Stimulus Measures

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas
File Photo of Russia-Hosted G20 Banners Outdoors Before Yellow and White Facade of Historic-Looking Building

(Moscow Times – themoscowtimes.com – Irina Filatova – July 22, 2013) The fight against tax evasion by multinational corporations and measures to ensure recovery amid the global economic turbulence came into the limelight at the two-day meeting of Group of 20 finance ministers that finished in Moscow on Saturday. Finance ministers and central bank governors of the world’s 20 biggest […]

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More than half of Russians would like to work in govt sector – poll

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and Moscow Environs Aerial View

(Interfax – MOSCOW, July 20, 2013) Public service looks attractive to 55% of Russians, although 22% believe public officials have to agree to compromises with their conscience, a nationwide public opinion poll conducted by www.superjob.ru has shown. ‘Stable salary and powers,’ ‘maximum salary and minimum efforts – public service is a dream for any idler’, ‘you can take large bribes […]

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Navalny Highlights Investors’ Black-Box Conundrum: Russia Credit

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
File Photo of Alexei Navalny Being Grabbed by Police at Protest

(Bloomberg – bloomberg.com – Ksenia Galouchko & Vladimir Kuznetsov – July 22, 2013) The conviction of Alexey Navalny, a political opponent of Russian President Vladimir Putin, highlights risks faced by investors as they weigh whether to buy assets in the world’s biggest energy exporter. Russia, which earned about $350 billion from oil and gas exports last year, has a Baa1 […]

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New Privatization Scheme Unveiled

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Empty Boardroom

(Moscow Times – themoscowtimes.com – Alexander Panin – July 19, 2013) The Federal Property Management Agency is urging banks to give out loans to investors ready to purchase government assets as part of a new scheme to stimulate privatization, which has been slow to take off. The loans provided by the banks will be backed by the privatized companies’ shares, […]

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Pyotr Ofitserov: The Man Who Stood Beside Navalny To The Bitter End

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
Kremlin and St. Basil's

(RFE/RL – rferl.org – Robert Coalson – July 18, 2013) Opposition politician and anticorruption blogger Aleksei Navalny got all the press during the nearly four months of his trial. But he was not alone in the dock, as he took pains to point out during his closing remarks on July 5. “First, I would like to take this opportunity to […]

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Tanks, Days Off, Abortions: 24 Things Russia Gives the Most Of

Abortion, Economy, Business, Investment, Trade, Military
Kremlin and St. Basil's

(RIA Novosti – MOSCOW, July 17, 2013) ­ What do these three things have in common: tanks, abortions and instant coffee? They are all things that Russia exports, performs or consumes more than any other nation. Esquire magazine’s Russian-language edition on Monday released a list of 24 things for which Russia is a statistically proven world leader. One standout is […]

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Russia faces economic costs from Navalny’s conviction

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
File Photo of Outdoor Electronic Sign with Russian Exchange Data

(Business New Europe – bne.eu – Ben Aris in Moscow – July 19, 2013) The Kremlin was hit with what is like to be a serious of extremely expensive bills following the conviction of opposition blogger Alexei Navalny to five years in jail on corruption charges by a court in Kirov on July 19. Russia’s stock market tanked as the […]

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Navalny Sentence a Blow to Business

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
File Photo of Cash, Coins, Line Graph

(Moscow Times – themoscowtimes.com – Irina Filatova – July 19, 2013) The Russian stock market reacted pessimistically Thursday following the ruling of a regional court that sentenced opposition leader Alexei Navalny to five years in prison for embezzlement. The sentence is widely believed to be another blow to Russia’s image and is likely to result in an a more dramatic […]

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RIA Novosti: Russian Railways CEO Denies Navalny’s Allegations of Corruption

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Alexei Navalny Being Grabbed by Police at Protest

(RIA Novosti – MOSCOW, July 19, 2013) The head of one of the world’s largest transport companies, state-owned Russian Railways, this week dismissed as unfounded corruption allegations made against him by opposition protest leader Alexei Navalny, Prime news agency reported. In a blog post earlier in the week, Navalny published details of property and offshore companies that he claims are […]

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Navalny’s Co-Defendant: Corrupt Biznes-man or Collateral Damage?

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Kremlin and St. Basil's

(Alexey Eremenko, RIA Novosti – MOSCOW, July 18, 2013) ­ This week, a little-known Russian business consultant named Pyotr Ofitserov finally took his eldest daughter on a long-promised visit to Moscow’s famed Tretyakov Gallery. They squeezed in the outing between errands on Tuesday afternoon, as Thursday Ofitserov expects to be jailed for up to five years. “It’s funny how much […]

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Russian economy becomes biggest in Europe

Economy, Business, Investment, Trade, Europe, EU
EU Map

(Russia Beyond the Headlines – rbth.ru – Tatyana Lisina, RBTH – July 17, 2013) According to data from the World Bank, Russia’s economy has jumped ahead of all the European nations, becoming the fifth largest worldwide in terms of GDP. Experts are confident that, in the future, the gap between the Russian Federation and the Old World will widen further. […]

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Russian stock market nosedives on Navalny verdict

Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
Alexei Navalny file photo

(RIA Novosti, The Moscow News – themoscownews.com – July 18, 2013) Russia’s stock market fell sharply on Thursday according to Moscow Exchange data, after investors took in the news that opposition blogger Alexei Navalny had been found guilty in a controversial fraud trial and sentenced to five years in jail. The court in the city of Kirov, about 900 kilometers […]

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Navalny’s sentence to lead to outflow of young lawyers, businessmen from Russia – Prokhorov

Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
Alexei Navalny file photo

(Interfax – MOSCOW, July 18, 2013) The sentence of opposition activist Alexei Navalny is affecting the interests of small and middle-sized businesses and will lead to the outflow of young lawyers and businessmen from Russia, leader of the Civil Platform party Mikhail Prokhorov said. “The sentence passed on Alexei Navalny and Pyotr Ofitserov is not just a sentence to the […]

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Intel, IBM Feel Putin Pinch as Medvedev Tech Hub Falters

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Science, Technology, Engineering, United States, U.S.-Russian Relations
Skolkovo File Photo

(Bloomberg – bloomberg.com – Henry Meyer, Irina Reznik & Jason Corcoran – July 17, 2013) When Russian agents stormed the downtown offices of the Skolkovo technology hub being built near Moscow on April 18, a startled Intel Corp (INTC). executive got caught up in the raid. Dusty Robbins, head of global programs for the world’s largest chipmaker, was forced to […]

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Russia overtakes Germany to become 5th largest economy

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(Business New Europe – bne.eu – MOSCOW BLOG – July 17, 2013) Russia passed an important milestone on July 15, overtaking Germany to become the biggest economy in Europe in terms of purchasing power parity and the fifth biggest in the world. This achievement comes on top of the World Bank’s decision a week earlier to upgrade Russia from a […]

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Putin Foe Navalny Faces Jail as Investors Fret About Selloff

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Human Rights, Politics, Government, Protests, Elections
File Photo of Alexei Navalny Being Grabbed by Police at Protest

(Bloomberg – bloomberg.com – Jason Corcoran & Henry Meyer – July 17, 2013) Alexey Navalny faces possible imprisonment tomorrow in the highest-profile case against a critic of President Vladimir Putin since the prosecution of former oil billionaire Mikhail Khodorkovsky. A judge in Kirov, 900 kilometers (560 miles) northeast of Moscow, will rule on charges that Navalny defrauded state-owned timber company […]

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Pursuit of better life, self-actualization prompts emigration from Russia – poll

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections, Population Disaster, Demographics
File Photo of Crowd of Russians with One Waving Russian Flag

(Interfax – MOSCOW, July 16, 2013) The pursuit of a better life is the primary cause of emigration from Russia, said 54% of respondents acquainted with prospective emigrants. Sixteen percent explained their emigration as a desire for self-actualization, the Russian Public Opinion Study Center (VTsIOM) told Interfax. Five percent of prospective emigrants believe that life abroad is better organized and […]

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Russia urges G20 to tell market about its debt policy guidance

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas
File Photo of Russia-Hosted G20 Banners Outdoors Before Yellow and White Facade of Historic-Looking Building

(Interfax – MOSCOW, July 17, 2013) Russia urges the G20 nations to inform the markets about their debt policy guidance. “We think it would be advisable to put medium-term debt policy guidelines for countries with a lot of debt on the agenda for the G20 meeting [of finance ministers, which takes place in Moscow at the end of the week],” […]

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B20 publishes White Book of recommendations for G20 leaders

Economy, Business, Investment, Trade, Foreign Policy, Security, Visas
File Photo of Russia-Hosted G20 Banners Outdoors Before Yellow and White Facade of Historic-Looking Building

(Interfax – MOSCOW, July 16, 2013) The Business 20 (B20) on Tuesday unveiled its definitive White Book of recommendations for the Group of 20 (G20) leaders, of which Russia is president in 2013. “The recommendations were discussed during the St Petersburg (economic) forum and submitted to (Russian President) Vladimir Putin, and some of them will be presented during the summit […]

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Chubais sees income drop 42.5 mln rubles in 2012

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Anatoly Chubais file photo

(Interfax – MOSCOW, July 15, 2013) The income of the CEO of state company Rusnano, Anatoly Chubais fell by 42.5 million rubles to 217.7 million rubles in 2012 from 260.2 million rubles a year earlier. Chubais’ income from his main place of work dropped to 20.55 million rubles from 22.4 million rubles, materials from the state company show. As of […]

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Putin Slams Far East Officials Over Slow Development

Economy, Business, Investment, Trade, Far East, Siberia, APEC, Politics, Government, Protests, Elections
File Photo of People Working on Car Amidst Siberian Woodlands and Meadows

(RIA Novosti – MOSCOW, July 16, 2013) President Vladimir Putin criticized the federal government and local authorities Tuesday over their failure to ensure effective development of Russia’s Far East, Rossiya 24 TV Channel reported. “Are you going to work, or what?” he asked participants at a development meeting for the Sakhalin region, which he said has everything needed to become […]

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Russian Mobile Revolution Sparks Fight for Network Orders

Economy, Business, Investment, Trade, Media, Internet, Social Media, Television
iPad file photo

(Bloomberg – bloomberg.com – Adam Ewing, Ilya Khrennikov & Marie Mawad – July 15, 2013) Russian mobile carriers are gearing up for about $13 billion in spending to boost data speeds, creating the next major battleground for network suppliers. Russia is, by land mass, the largest country in the world, making it potentially tremendously lucrative for makers of equipment such […]

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Expectations High for New Moscow One Year On

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
Aerial View of Moscow From Beyond Stadium, file photo

(Moscow Times – themoscowtimes.com – Irina Filatova – July 16, 2013) [The Development of New Moscow One Year On chart here: http://www.themoscowtimes.com/business/article/expectations-high-for-new-moscow-one-year-on/482838.html] A little over a year after the territory of the city of Moscow more than doubled in size, real estate prices are stabilizing, and expectations for improving infrastructure are high. On July 1, 2012, almost 150,000 hectares of […]

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Senators Choose Business or Power

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
File Photo of Man Placing Stack of Large Bills into Inside Pocket of Suitcoat

(Moscow Times/RIA Novosti – July 16, 2013) Though the spring session of the upper house of parliament is over, it might not signal an end to the steady stream of wealthy senators who have stepped down as the Kremlin put forward new restrictions on officials owning assets abroad. The nine members of the 166-seat Federation Council who have left since […]

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Medvedev Lauds Russia’s 5th Place in World Bank’s GDP Rating

Economy, Business, Investment, Trade
File Photo of Cash, Coins, Line Graph

(RIA Novosti – MOSCOW, July 15, 2013) ­ Russia has been ranked as the world’s fifth largest economy by GDP based on purchasing power parity, winning praise on Monday from Prime Minister Dmitry Medvedev. The World Bank’s new GDP rating published last week ranks the United States as the world’s largest economy by purchasing power parity last year with $15.7 […]

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US, Russian Officials Preview G20 Summit

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade, Foreign Policy, Security, Visas, Oil, Gas, Energy, United States, U.S.-Russian Relations
File Photo of Russia-Hosted G20 Banners Outdoors Before Yellow and White Facade of Historic-Looking Building

(RIA Novosti – WASHINGTON, July 12, 2013) ­ Russia is doing relatively well, but needs a strong global economy to sustain and improve its recent growth, which makes the upcoming Group of 20 (G20) Summit it is hosting in September critically important to the country, Sergey Kislyak, Russia’s ambassador to the United States, told a conference in Washington on Friday […]

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Corruption halts approx 14% of businesses in Russia – RUIE

Corruption, Law, Police, Courts, Crime, Economy, Business, Investment, Trade
Cropped File Photo of Two Men in Business Suits Shaking Hands and Passing Cash

(Interfax -YEKATERINBURG, July 12, 2013) A third of Russian and foreign investors believe that corruption is an impediment, President of the Russian Union of Industrialists and Entrepreneurs (RUIE) Alexander Shokhin said. “Corruption halts approximately 14% of businesses in Russia,” he said at a roundtable, “Investment Climate in Russian Regions through Foreign Investors’ Eyes”, held at the Innoprom 2013 show in […]

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Georgian Wine Comes Back to Russia

Economy, Business, Investment, Trade, Georgia
Tblisi, Georgia, File Photo with Building with Tower on Hillside and City Buildings in Valley in Distance

(Moscow Times – themoscowtimes.com – Lena Smirnova – July 12, 2013) It was meant to be a triumphant comeback that would patch up sour diplomatic relations between former Soviet republics and satisfy Russia’s thirst for quality wine. But following a six-year ban from the country, Georgian wines are facing an uphill battle in the market and experts say they are […]

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Russian state support system under WTO to be ready in several months – Dvorkovich

Economy, Business, Investment, Trade, Politics, Government, Protests, Elections
WTO Logo

(Interfax – YEKATERINBURG, July 11, 2013) Russia’s system for providing state support in the context of the WTO, which the nation joined last year, will fall into place in the next few months, Deputy Prime Minister Arkady Dvorkovich said. “In general, it seems to me this system will line up in a few months, and both domestic and foreign producers […]

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