(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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(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – October 11, 2013) At first, Sochi’s Fisht Olympic Stadium was meant to resemble a giant snowflake, a symbol of cold weather to balance out the city’s palm trees and beaches for the Winter Games. Then, the design morphed into two parallel mounds of snow, opened down the middle to present views of […]
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(Bloomberg – bloomberg.com – Stepan Kravchenko & Daryna Krasnolutska – October 11, 2013) Russia is mounting a last-ditch offensive to torpedo Ukraine’s shift toward Europe as President Vladimir Putin seeks to salvage his dream of a common economic space in the former Soviet Union. As Ukraine pursues an accord on European Union integration, Russia has disrupted regional trade and sent […]
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(Moscow Times – themoscowtimes.com – October 10, 2013) The ownership of about 40 percent of all real estate properties in Russia is a complete mystery to the government, the Federal Tax Service said, creating a massive blind spot that could obstruct the Finance Ministry’s proposal to bring in a tax on real estate, a news report said Thursday. The problem […]
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(Moscow Times – themoscowtimes.com – Lena Smirnova – October 10, 2013) The Russian economy will stagnate if companies do not increase their labor productivity, which currently averages at 40 percent of that of the Fortune 500 Global companies, according to an annual ranking that Expert Rating Agency presented Wednesday. High prices for natural resources and cheap labor are no longer […]
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(Russia Beyond the Headlines – rbth.ru – Artem Zagorodnov, RBTH – October 9, 2013) Most Russians do not believe in Russia’s future as a leading hi-tech exporter, a Debate Night this week at Moscow’s Technopolis revealed. The fact that Russia currently accounts for 26 percent of the world’s high-tech exports was no deterrent to this week’s Debate Night at Moscow’s […]
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(RIA Novosti – Denpasar, Indonesia, October 8, 2013) The Russian Federation is interested in recovery of the US economy and hopes that, being caused by a domestic political situation, the issue will be solved as soon as possible, Russian President Vladimir Putin has said, noting that this issue was not specifically discussed at the APEC summit. (Passage omitted: the US […]
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(Interfax – BALI, October 7, 2013) The absence of U.S. President Barack Obama from the APEC Bali summit is quite understandable, Russian President Vladimir Putin said. He said he would have done the same. “We can see what is going on in U.S. domestic politics and this situation is not easy. I think the decision of the U.S. president not […]
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(Kremlin.ru – Bali, Indonesia – October 8, 2013) PRESIDENT OF RUSSIA VLADIMIR PUTIN: Good afternoon, ladies and gentlemen, colleagues, I want to note that the APEC summit had good, practical outcomes. Let me recall once again that the Asia-Pacific region is home to more than 40 percent of the world’s population; it generates 56 percent of global GDP and accounts […]
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(RIA Novosti – MOSCOW, October 9, 2013) The International Monetary Fund warned in a report published Wednesday that Russia’s economic model has exhausted itself and predicted that future growth will be constrained by negative demographic trends. The IMF’s annual World Economic Outlook said that the Russian economy has managed to grow on the back of rising oil prices and by […]
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(Interfax – MOSCOW, October 2, 2013) The current challenge for the Russian economy is the need to accelerate labor productivity gains, since the current slow pace means that the economic orientation on raw materials extraction will continue, President Vladimir Putin said in Moscow on Wednesday at the Russia Calling investment forum organized by VTB Capital. “For Russia, the main, crucial […]
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(Moscow Times – themoscowtimes.com – Anatoly Medetsky – October 3, 2013) The Cabinet on Thursday discussed moves to back small and medium-sized businesses with greater access to loans and state contracts as a way to spur the flagging economy. “We must make a serious breakthrough in the field of investment, the field of labor productivity, the field of diversification of […]
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(Business New Europe – bne.eu – Artem Zagorodnov in Moscow – October 3, 2013) One of Vladimir Putin’s first acts on being inaugurated president on May 7, 2012 concerned launching a series of “road maps” to improve Russia’s position in the World Bank’s “Doing Business” survey from 118th place to 50th by 2015 and 20th by 2018, by slashing bureaucracy […]
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(Russia Beyond the Headlines – rbth.ru – David Gray, managing partner of PwC Russia, special to RBTH – October 1, 2013) David Gray of PwC Russia explains how business opportunities can often be undervalued by foreigners based on his own 19 years in Moscow. Like an analyst giving a share tip, I think that I should start by admitting that, […]
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(Moscow Times – themoscowtimes.com – Guennadi Moukine – October 3, 2013) The worst of the economic crisis is over and the economy is under control, but it is time to steer the economy back into growth mode, President Vladimir Putin said at an investment forum Wednesday. He was speaking at the Russia Calling! VTB Capital event in Moscow, where he […]
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(Kremlin.ru – Moscow – October 2, 2013) Vladimir Putin took part in the fifth annual “Russia Calling!” Investment Forum, organised by VTB Capital. The theme of this year’s forum is New Horizons for Growth: How to Reach Them. The “Russia Calling!” Investment Forum provides a platform for developing dialogue between Russian business and the international investment community. Prominent political and […]
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(Russia Beyond the Headlines – rbth.ru – Natalia Orlova, Chief Economist at Alfa Bank in Moscow, special to RBTH – October 1, 2013) How Russia’s macroeconomics indicate it’s a booming consumer, not oil, economy. Although Russian economic growth slowed to a mere 1.4 percent year-on-year in the first half of 2013, the domestic consumer trend remains solid. Russia’s current economic […]
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(Russia Beyond the Headlines – rbth.ru – Alexander Ivlev, special to RBTH – September 30, 2013) EY’s country managing partner on how Russia took 1st place among the G20 countries for coordinated business support and why it’s easier to file taxes here than in the U.S. There is a growing recognition among the G20 countries of the invaluable role played […]
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(Government.ru – Sochi, Krasnodar Territory, September 28, 2013) Anna Schneider: Good afternoon, Mr Medvedev. Thank you for finding the time to come here. Dmitry Medvedev: Good afternoon. Anna Schneider: The forum is about to complete its work. What results have been achieved? What are your personal impressions? How is this year’s forum different from the previous ones in terms of […]
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(Interfax – VLADIVOSTOK, September 28, 2013) – Russia will take a break in megaprojects under the current complex circumstances but will continue to develop its transport infrastructure. “There will be no such megaprojects as the Sochi Games in 2014 but there will be other very important projects, such as transport infrastructure for greater passenger and cargo mobility. They will not […]
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(Government.ru – Dmitry Medvedev – September 27, 2013) [English translation of commentary published in Vedomosti, September 27, 2013] 1. The beginning Five years ago it became obvious that a global economic catastrophe was beginning. I remember very well the first G20 anti-crisis summit meeting in Washington and the views which I and the majority of my colleagues expressed there. From […]
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(Moscow Times – themoscowtimes.com – By Anatoly Medetsky – September 28, 2013) Prime Minister Dmitry Medvedev warned Friday that the economy had fallen on hard times and identified the private sector as the engine for future growth. Medvedev made what was one of the key political statements of his premiership at the annual International Investment Forum in Sochi after numerous […]
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(RIA Novosti – Karin Zeitvogel – WASHINGTON, September 30, 2013) Russia earns low marks on a global index that rates countries by the quality of life and wellbeing of their old folk, ranking 78th out of 91 countries in the first-ever Global AgeWatch Index released Monday. The index, which lists Sweden at number one and Afghanistan at rock bottom, ranks […]
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(Government.ru – Sochi, Krasnodar Territory – September 27, 2013) The main focus of the forum is economic growth and quality of life, including foreign direct investment, comprehensive regional development and expansion of transport infrastructure through private investment. The participants also discussed social issues, including healthcare, participation of private medical organisations in the mandatory medical insurance system, social development policies for […]
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(RFE/RL – rferl.org – Brian Whitmore – September 27, 2013) A former Soviet republic has its sights set on moving closer to Europe, a move staunchly opposed by Moscow. With the Kremlin’s tacit support, one of its majority ethnic-Russian cities votes to secede, sparking fears of violent conflict. Officials in Moscow vow to defend the rights of its smaller neighbor’s […]
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(Interfax – SOCHI, September 27, 2013) Russian Economic Development Minister Alexei Ulyukayev said the main risk for the Russian economy was the risk of not implementing a new economic development model. There are external and internal risks that can affect the rate of economic growth, he said. “But I think the major risk us the risk that we will nit […]
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(OilPrice.com – Daniel J. Graeber – September 26, 2013 – article also appeared at http://oilprice.com/Finance/the-Economy/World-Bank-Russian-Energy-Strength-is-Economic-Weakness.html; a version of the article also appeared in The Christian Science Monitor as “Is Russia’s economy running out of gas?” at http://www.csmonitor.com/Environment/Energy-Voices/2013/0926/Is-Russia-s-economy-running-out-of-gas) The head of the World Bank in Russia said Wednesday he was alarmed by the slowdown in the Russian economy. The bank said the […]
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(Kremlin.ru – Novgorod Region, September 19, 2013) [Complete transcript here http://eng.kremlin.ru/transcripts/6007] VLADIMIR PUTIN: And one more question for our American friend and colleague. What will the United States do about the budget deficit, the debt that has reached an incredible size? It is the largest debt in the United States’ post-war history. How will the situation unfold moving forward? This […]
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(RIA Novosti – MOSCOW, September 27, 2013) Russian Prime Minister Dmitry Medvedev has said that investors have an “irrational fear” of Russia, a country he described as “incomprehensible” and “sometimes unpredictable,” in a long opinion piece published Friday in a Russian newspaper. The article of over 3,000 words was titled “The Time of Simple Solutions Has Passed” and focused […]
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(Moscow Times – themoscowtimes.com – Ivan Nechepurenko – September 26, 2013) A state of emergency has been declared in Sochi as water and mudslides have blocked the Olympic resort’s newly built main roads, just as International Olympic Committee inspectors arrived for their final assessment ahead of the upcoming Winter Olympic Games. Many local residents could not travel to work Wednesday […]
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(Russia Beyond the Headlines – rbth.ru – Lyudmila Nazdracheva, special to RBTH – September 26, 2013) This year, thanks to a program that facilitates the return of nationals to Russia, around 15,000 people have moved back to the country. The plans for the program estimated the influx of returning émigrés to be in the hundreds of thousands per year, and […]
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(Business New Europe – bne.eu – Ben Aris in Moscow – September 25, 2013) Russia leapt 10 places in the latest “Economic Freedom of the World” report, released in September by Canada’s Fraser Institute, to 101st place largely thanks to its financial reforms. The US fell 13 spots, largely because of its financial mess. The Kremlin is regularly lambasted for […]
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(RIA Novosti – MOSCOW, September 25, 2013) The World Bank cut its 2013 growth forecast for the Russian economy in a new report published Wednesday, asserting that domestic consumers had followed investors in “sitting on the fence” over the economy and warning that structural reforms would be necessary to stimulate new growth. Russia’s economy will expand by 1.8 percent […]
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(Interfax – MOSCOW, September 25, 2013) The growing capital outflow from Russia is putting pressure on the ruble, the Economic Development Ministry said in an economic forecast for 2014-2016 published on Tuesday. “The increase in private capital outflow in 2013 from $30 billion to $70 billion, according to the forecast, was an important factor in the depreciation of the ruble,” […]
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(Interfax – September 25, 2013) The Russian government plans to actively promote production of hydrocarbons and the development of LNG projects, and the country aims to have a 20 percent share of the world liquefied natural gas (LNG) market by 2030, Deputy Energy Minister Kirill Molodtsov said at the Sakhalin Oil and Gas 2013 conference. “The Russian Federation is currently […]
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(Moscow Times – themoscowtimes.com – Des Brown – September 25, 2013) “Meet the Russians,” a reality entertainment show produced by Fox TV, will start broadcasting in Britain on Sept. 25. It estimates there are 300,000 Russians now resident in London, and it intends to look at a cross section of the most flamboyant ones. “Prepare to enter a jaw-dropping world […]
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(Moscow Times – themoscowtimes.com – September 24, 2013) EBRD president Suma Chakrabarti acknowledged Tuesday that Russia’s sputtering economy combined with deeply ingrained problems such as corruption and a weak court system were deterring both foreign and domestic investors. But he insisted that the opportunities continued to far outweigh the risks and said the Russian authorities were taking much-needed steps to […]
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(Interfax – September 24, 2013) Prime Minister Dmitry Medvedev has approved a plan to create and develop mechanisms for public oversight over the activities of natural monopolies with input from consumers, along with the relevant road map, the government press service said. The goal of the document is to involve consumers in monitoring the development and implementation of monopolies’ investment […]
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(Interfax – MOSCOW, September 23, 2013) Prime Minister Dmitry Medvedev criticized the pace at which the road maps to increase business and investment activity in Russia are being implemented, as nearly half of their measures have not been carried out on time. “We can’t in any case be happy with the pace of implementation of these road maps. Of the […]
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