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Taxes, Benefits, Rewards: New Laws and Programs for Business Come into Force in 2021
On January 1, 2021, a law on reducing the rate of insurance premiums and income tax for IT companies came into force in Russia. At the same time, the excise tax on tobacco products increased to replenish the budget. In addition, the tax on interest on bank deposits above 1 million rubles and an increase in the personal income tax rate to 15% for citizens who earn more than 5 million rubles a year should bring additional income to the treasury.
The Cancellation of the Cypriot Golden Passport Program and Russian Investors
The Council of Ministers of Finance and the Interior of the Republic of Cyprus announced the cancellation of the investment program for the granting of citizenship from November 1, 2020.
Why Investments are not Growing in Russia: Chinese Recipe for Acceleration
Now the main source of financing for investments in fixed assets in Russia is companies' own funds. This limits investment opportunities. To solve the ambitious task of accelerating investment growth, it is necessary, first of all, to increase the availability of borrowed funds for business. The Chinese experience clearly confirms this.
"Russian offshores": Cyprus Tax Conditions for Residents
The Ministry of Finance has prepared amendments to the Tax Code, establishing a tax rate on dividends of 5% for residents of "Russian offshore companies". Earlier, Russia achieved an increase in the preferential rate to 15% from Cyprus, Malta and Luxembourg.
"Young and Old have Suffered": Russian Business has Experienced the Strongest Drop in Profits
The record holder in terms of losses was the Moscow business that lost 85 billion rubles, while the Altai business showed the highest profit growth.
Russia's Economy has Experienced the Biggest Collapse since 2009
The Russian economy, amid the coronavirus pandemic, fell at its fastest pace since the 2008-2009 crisis.
Farewell to Cyprus: the Breakdown of the Double Taxation Agreement with the Island
The news that the Russian Ministry of Finance decided to break the agreement on the avoidance of double taxation with Cyprus, although it sounded like a bolt from the blue, was not entirely unexpected. There are several strategies that can be considered for the future.
Business Warned about Problems with the Entry of Foreign Specialists into Russia
Due to problems occured large investment projects could be disrupted.
Pandemic Consequences
Analysts from SPARK-Interfax have studied settlements with suppliers from companies included in the government's list of the most affected industries. It turned out that their payment discipline was lame even before the pandemic, and companies had a certain practice in settlements with suppliers.
Russian Economy will Need Four Years to Recover from the Crisis
The world economy will be able to return to pre-crisis levels in 2022, while the Russian economy - only in 2024, analysts of the Economist Intelligence Unit (EIU) predict. Recovery will be hampered by low raw materials prices, experts warn.
Coursera Assessed Russia's Competencies in Technology and Business
Russia is the leader in technology and data science competencies in the Coursera world ranking.
New Restrictions on Exports to Russia Come into Force in the USA
Two new rules have come into force in the United States that restrict the export of goods to Russia. They relate, inter alia, to the export of computers and bearings, which will need to be licensed even for deliveries to civilian consumers.
How Pandemic Changed Investment Banking and Investor Perceptions of the Russian Market
Before the pandemic, Russian companies and investors in the Russian economy had to reckon with a number of factors, for example, a rather stringent sanctions regime against a number of companies and the risks of its tightening. And at the beginning of this year, investors received a very unpleasant surprise in the form of a pandemic and a sharp drop in demand and world prices for hydrocarbons and other commodities, which in turn hit the key sectors of the economy very significantly.
Escaping Moscow: the Number of Business Jet Flights from Moscow Doubled
The number of business jet flights from Moscow airports more than doubled from April to mid-June. All of them are carried out as charter and have a simplified scheme for issuing departure permits.
A New Law Protecting Russian Companies under Sanctions
The Federation Council approved a bill that allows Russian sub-sanctioned persons transfering any disputes to a Russian court and punishing opponents who disagree with this maneuver.
TEDxDvortsovaya Square Online Conference
One of the first TEDx online conferences in Russia will bring together experts from various fields of science, art and business.
New Measures to Support Business and the Public in Russia during Pandemic
Small and medium-sized businesses will receive tax and insurance premium deferrals for six months and will be able to restructure the debts accumulated during the crisis.
The Leader of the List of Richest Russians has Changed
The co-owner of Novatek and Sibur Leonid Mikhelson ceded leadership of the Russian part of the global Forbes list to Vladimir Potanin.
A New Member has Entered the Ranking of 200 Richest Businessmen in Russia
The founder of Komus has been included into the list of the richest Forbes businessmen.
Russian Gold Producers
Forbes has compiled a rating of entrepreneurs who control the production of gold in Russia. The list contains 17 names. These businessmen account for about two-thirds of Russian gold production.
For the First Time in Eight Years Russia will Change the Grounds for Blocking Bank Accounts
For the first time in eight years, the Central Bank will change the criteria for suspicious transactions that could lead to account blocking. In particular, the Central Bank proposes to revise the general approaches to determining the doubtfulness of banking operations.
The Hague Court of Appeal Ordered Russia to Pay $ 50 billion in a Lawsuit by Yukos Ex-Shareholders
The dispute between them has been going on for 15 years and is not over yet - Russia will appeal the decision in the Supreme Court of the Netherlands.
Tens of Billions Spent on Supporting Small Businesses in Russia were Wasted
For four years, the Russian state spent 80 billion rubles to support small business, but the effect is not obvious. It is more profitable for small entrepreneurs to take a loan from a bank on market conditions than to apply for state support.
A New Image of Sberbank: How German Gref Decided to Reform the Country's Largest Bank
Sberbank and Group hope to create a rival to Yandex in the field of the "last mile" delivery.
Migration of Billions: Main Transactions of Russian Businessmen in 2019 Took Place Outside the Country
Perhaps the main outcome of 2019 is that the most interesting transactions and investments with the participation of Russian businessmen were in no way connected with Russian assets.
A New Round of the Ecosystem War
Perhaps the most catching trend that can be observed now in the digital business space is the beginning war between the digital ecosystems formed in their first iteration.
Story of Lukoil's Success: Company's Shares are Growing for the Third Year in a Row
The largest Russian private oil company Lukoil F 1 is growing rapidly for the third year in a row - the rally that started in mid-2017 continues.
Eating Habits of Russian Businessmen
Most Russian entrepreneurs prefer to cook at home, despite the lack of time. At the same time, almost half usually neglect breakfast and spend up to 1,500 rubles a day on food.
How Millennials and Boomers Evaluate Changes in Russian Business
In the 90s, businessmen were afraid of bandits, now - the state.
Yuan for a Rainy Day: the Dedollarization of the NWF
In the medium term, the changes in the currency structure of the NWF proposed by the Ministry of Finance look reasonable, however, the desynchronization of reserves with the currency liabilities of the financial system will weaken their anti-crisis function.
Redistribution Instead of a Breakthrough: Why Counter-sanctions Doom Russia to Technological Lag
The model of external threats and maximum import substitution may stimulate the growth of some Russian industries, but the question is at what cost will it be possible to build a self-sufficient economy in the context of globalization?
Feminism 2.0: a Tectonic Shift in Russian Business
Until now, it has been difficult for Russian women to achieve a really great success in business without the support of influential male relatives. The story of Tatyana Bakalchuk shows that a womans place in business in Russia is changing.
Bloomberg Estimates Russia's Losses from De-dollarization of Reserves
Russia lost almost $ 8 billion in potential revenue during the first year after a decline in the dollars share of international reserves, Bloomberg claims. While the Central Bank invested in cheaper euro and yuan, the American currency went up in price.
Maximum Tax Increase is Planned for Small Business in Russia
The Ministry of Economic Development has prepared the maximum tax increase for small business.
Russian Oligarchs: How Billionaires Try to Improve the Image of Russia in the USA
Russian businessmen and companies controlled by them donate millions of dollars to cultural events, exhibitions and tours to promote Russian culture in the United States and improve Russia's image.
Quiet Haven for Business. 10 Most Suitable Countries for Russian Companies
Cyprus, Luxembourg and Singapore topped the ranking of the best countries for Russian business, compiled by UFG Wealth Management and Confideri family office.
Large Russian Companies with the Best Reputation
The top 3 of the ranking of Russian companies with the best reputation according to the Reputation Institute includes Domodedovo, Yandex and Sheremetyevo. In general, the reputation of Russian companies is worse than that of foreign companies working in Russia, follows from the study.
Moscow Entered the Top 10 Cities in the World with the Best Ecosystem for Startups
This is evidenced by the rating of the research company StartupBlink, which covered more than a thousand cities and one hundred countries.
5 Most Rapidly Developing Companies in Russia
Moscow's constructors and exporters of coal and grain are among the five fastest growing companies in the Forbes rating.
Private Companies Growing by 150-250% Per Year in Russia
The growth rate of the Russian economy in 2018 reached a record for six years, 2.3%, despite the tightening of international sanctions and pressure on financial markets.
Russian Businessmen Entered the Top 5 in Terms of Wealth Growth in the World Ranking
This is evidenced by the Forbes Real Time rating data. It tracks the change in capital of the richest people on the planet and is updated in real time.
Protection From Account Blocking and Fast Customs Clearance: How the Ministry of Economy is Going to Improve the Business Climate
The Ministry of Economic Development has supplemented a plan to transform the business climate in Russia.
Organic Agriculture in Russia
Organic agriculture, also known as biological or ecological agriculture, is a global trend that is practiced in 180 countries of the world, including Russia. The main task of organic agriculture is to be as natural as possible, ethical in relation to nature.
P2P Financing in Russia
The search of financing is one of the key issues in business. Bank requirements are becoming tougher, the rates are growing, refusals are received all the more often. Against the backdrop of all these processes, the business is constantly looking for alternative sources of financing. There exist the following types of p2p financing.
The Investment Activity of Russian Companies
The researchers note that the reason for the investment activity slowdown was a lack of resources: the net financial result of Russian companies in January-May 2019 increased by 36.5%, and the annual growth rate of funds on rouble deposits reached a local maximum and exceeded 30% against the background of high rates of enterprises.
S&P Assessed the Impact of New US Sanctions on Russia's Creditworthiness
New US sanctions will not affect Russia's creditworthiness, S&P analysts say. At the same time, they do not exclude the risk of introducing more stringent restrictions by Washington.
The Ministry of Finance Came up with New Ways to Return Capital from Abroad
The Ministry of Finance is looking for new ways to return to Russia the money that Russian business leaves abroad. The Office proposes to change the rules for applying tax benefits and update the criteria for recognition of a person as a tax resident of Russia.
Pink Diamond from Russia may Become One of the Most Expensive in the World
This year, Alrosa may sell the Phantom of the Rose diamond for a close to a record price of $ 60-65 million, Bloomberg writes. The company itself indicates that it will become the most expensive diamond ever mined and cut in Russia.
Subsidies for Franchisees in Moscow
New measures have been introduced to support franchising in small and medium-sized businesses in Moscow.
Sanctions War: Who Benefits from the Food Embargo
Five years ago, Russia imposed retaliatory sanctions against the countries of the European Union, the USA, Canada, Australia, and Norway.
Russia's Switching to Euro. The Process of De-dollarization in the Foreign Trade
Amid the desire to reduce dependence on the dollar, the share of settlements with major foreign trade partners in euros is growing significantly.
Bloomberg: Russia will Bypass Saudi Arabia in Gold and Foreign Exchange Reserves
For the first time in eight years, Russia can enter the list of four countries with the largest foreign exchange reserves, Bloomberg predicts. This may become a lever of pressure on OPEC countries.
The Flexibility of the Ruble and Low Public Debt. Fitch Upgrades Russia
The international rating agency Fitch upgraded Russia's long-term foreign currency credit rating BBB- to BBB with a stable outlook due to the reliable and consistent policy.
Power and Money Ranking - a List of the 100 Richest Civil Servants and Deputies of Russia
Forbes magazine presents the traditional Power and Money ranking - a list of the 100 richest civil servants and deputies of Russia, according to the results of the 2019 declaration campaign. The cumulative income of the participants in the Power and Money 2019 ranking by Forbes made up approximately 71 billion roubles.
The Shadow Segment of the Luxury Goods Market
The annual turnover of the shadow segment of the luxury goods market made up 280 billion roubles, whereas the legal segment is estimated at about 250 billion roubles. Against the background of the continuing decline in household incomes, the sales of fashion brand replicas in the high price segment will only grow, at the same time, fake vendors will move online.
The Most Profitable Russian Franchises - 2019
Forbes Magazine has published the ranking of the most profitable franchises of Russia for the year 2019. The ranking was divided into three parts: Investments of 5-25 million roubles, Investments of 15 million roubles and Investments of up to 1 million roubles.
The Most Generous Russian Companies
Forbes has compiled a list of the most generous Russian companies that value their top managers more than others in monetary terms.
Foreign Companies with the Best Reputation in Russia
Toyota, Rolex and Bosch took the first places in the ranking of foreign companies with the best reputation in Russia. The authors of the rating, analysts from the Reputation Institute, are sure that the reputation of companies in Russia and in the rest of the world is perceived in completely different ways.
The Most Unusual Acquisitions and Gifts of Russian Billionaires
Forbes magazine has made a list of the most unusual acquisitions and gifts of Russian billionaires. The participants of the list were not ranked by lines.
Investors from Arab Countries will be Invited to Participate in Russian National Projects
In particular, the Arab Mubadala investment fund that had previously invested in Russian projects showed interest in investments in Russia.
Amendments to the Law On Mass Media will Simplify the Process of Foreign Ownership of the Russian Media
The law restricting the share of foreign participation in the capital of the Russian mass media was adopted in 2014. In order to fulfill the law, large publishing houses and media holdings had to change the ownership structure.
Business Tourism in Russia
Even taking into account the development of advanced communication technologies (you cant surprise anyone with conference calls and online briefings), business travel is still important in the whole world, as modern gadgets cant replace professional and business intuition. Business trips in Russia are diverse.
Russian Billionaires Ranking
The founder of the Magnit store chain, Sergei Galitsky who sold 29.1 percent of his companys shares to the VTB group for $ 2.44 billion in early 2018, headed the annual ranking of Russian billionaires with the highest income composed by the Forbes magazine.
Forbes: the Most Reliable Russian Banks
Unicredit Bank ranked first in the top 100 of the most reliable banks in Russia compiled by the Forbes magazine.
Undisclosed Financial Services of the Russian Market
The Bank of Russia posted the information about the economy sectors that created the main demand for undisclosed financial services in 2018 on its website.
A New Type of Support Guarantee Loans to Small Businesses was Launched in Moscow
The first guarantee under the letter of credit issued by the Moscow Guarantee Fund allowed the supplier of aerodrome special equipment to strike a deal worth 700 thousand euros.
The Second Billionaire Woman in Russia
Turning Wildberries into a unicorn company makes its sole owner Tatiana Bakalchuk a billionaire.
The Most Expensive Runet Companies - 2019
The trend towards the transformation of Russian Internet companies into ecosystems and the consolidation of the industry led to changes in the Forbes rating.
Regulatory Sandboxes for IT Companies
It is proposed to create "regulatory sandboxes" for the blockchain, neurotechnology, robotics, systems based on big data and wireless communications in Russia in 2019.
33% of SMEs in Russia Faced Corruption in 2018
Research: every third Russian entrepreneur was requested to pay a bribe in 2018.
Economic Forecasts: Russia Experiences a Recession
Russia is at the final stages of its economic cycle and experiences a recession, as the analysts of the Vanguard investment company noted in their forecast of the world economy for 2019.
Russian Power Company Launched a Digital Transformation Project
Rosseti PJSC (Russian power company) aims to create their own SCADA system in three years.
The Number of Criminal Offenses in the Sphere of Economic Activity Increased in 2018
Law enforcement agencies have recorded a total of 34.12 thousand such cases. This category includes the violations of the Criminal Code related to money laundering, illegal businesses, forging securities, etc.
Moscow Buying Habits: the Number of Whole Food Stores Increased 3.5 Times
The reasons for the sector growth were the transfer of consumer interest to small-format stores and the trend for healthy food.
The Global Small and Medium Business Support Program will be Launched in Russia
The Global Small and Medium Business Support Program titled eBay Retail Revival will start operating in Russia. The first region where the program will be launched - not only in Russia, but throughout Eastern Europe - is Yaroslavl Oblast and the city of Yaroslavl.
Ozon is Launching Its P2B-lending Project
Online retailer Ozon is testing its own p2b-lending site (peer to business) Ozon.Invest, where individuals can lend to companies from the small and medium-sized business sector.
Forbes Magazine Presented Its Annual Ranking of the Best Countries for Doing Business
Russia took the 55th place in 2018.
Sharing Economy in Russia
The total volume of the main sectors of the joint consumption (sharing-economy) economy in 2018 will reach 511 billion rubles, which is 30% more than in 2017.
Russia Ranked 31st in the Doing Business
Russia ranked 31st in the Doing Business ranking that is annually composed by the World Bank. Despite the fact that Russia has managed to rise by four positions, as compared to last year, the goal of joining the top 20 of the list has not yet been achieved.
The E-commerce Market in Russia: Current Trends
The e-commerce market in Russia has been growing for several years in a row. The sales on the Internet in the domestic Russian market amounted to 945 billion roubles in 2017, which is 17% more than during the previous year. According to forecasts, at the end of 2018 the increase in the volume of online trading will make up 18%.
Big Data Regulation in Russia
The bill on the regulation of big data turnover in Russia was criticized by experts; the deputies of the State Duma considered the bill to be incomplete.
The Best Russian Employers
Five Russian enterprises were listed in the ranking of the best employers by Forbes.
Average Wages in Russia
Russian National Agency for Financial Studies published a report on average wages in Russia, including the most highly paid employees in the country and districts with the highest average salaries.
Russian Retail Digitalization
The representatives of the retail sector rely on digitalization as one of the main development factors: 41% of companies are in the course of digital transformation, another 16% expect to start this process soon.
The Largest Private Companies In Russia
Lukoil with its annual revenue of 5.47 trillion roubles has become the largest private company in Russia. This conclusion can be made from the annual ranking published by the Forbes magazine. The list includes a total of 200 largest Russian companies, more than 50 percent of their shares belong to private owners.
State Support for Small and Medium-sized Businesses in Russia
The auditors of the Accounting Chamber have made a conclusion about the inefficiency of measures of state support for small and medium-sized businesses.
The Small Business Pulse Results
The loyalty index of small businesses fell in the first half of 2018, as compared to the previous year, reaching 27 points, according to Inc.Russia referring to the study of Alfa-Bank titled Small Business Pulse. A more pessimistic attitude was previously noted only in November 2015, when the figure dropped to -38.
The Russian Internet Initiatives Development Fund has Become One of the Most Successful Accelerators in the World
Alejandro Cremades, the co-founder of Onevest crowd investing site and the author of The Art of Startup Fundraising made a list of the most successful accelerators in the world for American Forbes.
Tax Regime: Choose Online
Moscow Department of Science, Industrial Policy and Entrepreneurship, in cooperation with the State Budgetary Institution "Small business of Moscow", developed an online service that will help entrepreneurs to choose the most appropriate tax regime.
Foreign Legal Entities will be Allowed to Participate Without any Limitation in the Authorized Capital of SME in Russia
Previously, legislation prohibited enterprises with the share of foreign legal entities exceeding 49% to register as SME.
Research: Russian Entrepreneurs Notice Less Corruption
Russian entrepreneurs note that there is less corruption in business.
9 Things to Do after IE Registration in Russia
Here is a step-by-step instruction on what to do after obtaining a certificate of registration of an IE (individual entrepreneur) in Russia.
Top 15 Russian Grain Exporters
Top 15 exporters of grain in Russia supplied almost 75% of all exported volumes of Russian grain last year, or about 25 million tons.
Platforms for Public Procurement in Russia
There are nine electronic platforms for public procurement in Russia now, instead of six.
Aggregators of Goods and Services in Russia
An aggregator of goods is an electronic platform where the buyers can choose, compare and buy goods and services from several online stores.
How to File a Claim in Russia through Whatsapp
The most reliable ways to send and deliver claims in Russia are the following: Russian Post, courier services and e-mail.
Audit Began: Closed for not Using the Online Cash Register
The Federal Tax Service reported violations in the operations of the "popular online store", which business in Russia was suspended.
Gambling Zones of the Russian Federation
Next year, a project called "gambling zones of the Russian Federation" will hit 10 years. Recall that today there are five gambling zones in Russia.
How to Open IE in Russia if You are a Foreigner
The Constitution of our country, to be precise, paragraph 3 of Art. 62 states that rights and obligations of citizens of another state do not differ from the rights and obligations of residents of the Russian Federation.
Documents a Foreigner Needs to Register IE in Russia
In this article you will find a list of documents that will be needed for registration of IE (individual entrepreneur) by a foreign citizen in Russia.
How to Determine the Tax Regime for an Individual Entrepreneur Doing Business in Russia
The lack of knowledge in this subject leads to permanent fines and blocked settlement accounts.
Why may a Foreigner be Refused in Registration of IE in Russia
The main reason is when the applicant does not have a valid residence permit on the territory of Russia (neither temporary nor permanent).
How Much does the Settlement Account in Russia Cost?
Opening of a settlement account in Moscow costs 2400 rubles.
Criteria for Choosing a Bank to Open a Settlement Account in Russia
In addition to your own preferences and goals that your business will pursue, there is a number of factors on which you have to focus, choosing a bank.
Why does a Sole Proprietor in Russia Need a Settlement Account?
The purpose of a settlement account is to be a convenient tool for running your own business.
Russian Business Ceases to Believe in its Prospects
The most pessimistic about its prospects are the companies of small and medium-sized businesses.
Russia in Doing Business 2016
Russia is slowly but steadily moving towards its goal of improving its business climate. Its edged up 3 notches higher in the latest Doing Business report issued by the World Bank and the International Finance Corporation.
Anti-crisis Regulations For Small Businesses
The package of anti-crisis regulations for small businesses and investors was adopted at the meeting of the Presidium of the Moscow Government.
Business Climate Improvement to be Discussed
The Ministry of Economic Development introduced the package of measures on improvement of the business climate in Russia for consideration of the government.
IKEA Hypermarkets Revise Prices
The prices on the furniture and household goods which are popular among Russians will rise, despite the fact that more than 60 percent of IKEA goods are produced in Russia, as the economic situation in the whole country is deteriorating.
SPIEF 2014: Multi-Billion Contracts Despite Political Pressure
The St Petersburg International Economic forum has generated 269 billion roubles in deals in spite of the pressure from Washington on participants.
To Sell Or Not to Sell
Billionaire Lebedev rejected rumours that hes going to sell his National Reserve Bank to focus on journalism. Maybe not yet.
Future of Car Insurance in Russia
Next-gen sat-nav systems are expected to be a win-win solution for insurers and drivers, bringing higher profits to the former and better rates for the latter.
Franchising As a Key To Success. The Russian Way.
Franchising is considered to be one of the possible solutions to many economic problems of modern Russia. In fact, it has already enhanced the growth of the small businesses here. The article gives an overview of the Russian franchising market, depicting its peculiarities in comparison with the global experience.
Magnitogorsk Iron & Steel Steams Ahead
MMK's latest financial report has raised investors' spirits amid record low prices for metal products. Click to find more stats and analysis.
Will MTS Return to Uzbekistan?
Uzbekistan softened its grip on MTS' unit but the fines it slapped to replace confiscation may still be too high for Russia's mobile operator to carry on, given the loss of the customer base and what some have called a continuing expropriation drive in the Central Asian republic.
Media Markt Pioneers in Retail RFID
Media Markt retail becomes the first retail chain to introduce RFID, or smart tags, into the Russian retail market. Russia-IC looks at the pilot project and the technology which has made stock-keeping a far easier process that when using barcodes.
Negotiations In Russia: Peculiarities, Tactics, Approaches
They say that negotiating is an art, not a science, and there is never one right way to do it successfully. In fact, negotiating is a very serious business for the Russians, as just about everything requires negotiation here.
Russian Business Dress-Code
There is one old Russian proverb meaning: first you judge how nice, then you judge how wise. Most of Russian businesspeople pay a lot of attention to how they are dressed. Here are some helpful tips on how to prepare for a formal meeting with the Russian partners.
Billionaire Prokhorov Quits Business for Politics
Russia-IC looks at Mikhail Prokhorov's new party as it aims to transform the political landscape in Russia, becoming a third power with serious ambitions.
Stakes on Sale. Finally.
The Medvedev government rubberstamps the ambitious privatization plan that's been the hope of investors for the past couple of years. Russia-IC looks at the details.
Russian, Chinese, U.S. Companies Link Up to Form New Rating Agency
A new rating agency to take on the big trio is being established by three companies from Russia, China and the U.S. Russia-IC looks at the future of the new institution.
Doing Business in Russia 6% Easier
According the WB Doing Business index, Russia has managed to improve its image in two key areas - construction permits and taxation. Russia-IC looks at the progress.
Debenhams in Moscow: British Designers - for Russian Buyers
The favourite British department store and the UK's second largest retailer network, Debenhams have just opened a store in Moscow at the Belaya Dacha shopping mall. Their Russian PR departmend kindly supplied Russia-IC with information about what awaits the shoppers and how Debenhams plan to develop their presence in Russia over the next 5 years.
Disappearing Jobs In Russia
The era of globalization and vast internet development changes the world dramatically, and the labour market is not an exception. As the new high technologies and breakthroughs appear, it is logical that some usual but already outdated goods, services, and occupations are no longer in demand. Several European and American agencies made a few predictions for the model of the future labour market in their countries, while we have tried to analyze the current Russian trends.
No Billionaire Can Eclipse Roman Abramovich
For the second year running the Russian tycoon Roman Abramovich sails high on Eclipse yacht: according to, nobody managed to build a longer boat. Other Russians on the list are Alisher Usmanov, Suleiman Kerimov, Yury Shefler, and Andrei Melnichenko.
City Hunter: Eat-and-Work Cafes In Moscow
Where new ideas are born? What is the role of atmosphere in thinking and analyzing? What mysterious factors influence this process? How unusual decisions are made? Is there any general behavioral principle that governs every situation? There is no exact answer. But we are able to find some examples of spaces where we can learn to become more imaginative, creative, communicable and decisive. These are the so-called third places, where a lot of people come in search for that special atmosphere of inventiveness and a new flow of business process and communication, combining all that with a cup of bracing coffee. Here is an overview of cafes in Moscow that give their guests all the opportunities for thinking, studying, working and enjoying attractive meals as well.
Retail in Russia - 2011: The Focus on Quality and Value
The 7th annual business conference Retail in Russia, organised by Vedomosti newspaper, took place in Moscow on December 15, 2011. The preliminary conclusions were drawn, the opportunities charted, and case studies discussed. Slowly but surely the Russian business begins to recognise the importance of quality and added value in customer acquisition and retention.
Why Young Russians Leave the Country?
Migration becomes more and more intense nowadays. Do we know why it happens and how to make use of these processes?
Yandex-gate: Private User Data Surfaces in Search Results
The last two weeks have been a nightmare for Russian Internet users. First, online SMS's went public; then it was the data for online shoppers, including sex shop clients; finally, yesterday it was the order data for Russian Railways customers.
Bulgaria Ship Accident. Corruption and Indifference Played Their Roles
The tragic shipwreck of Bulgaria on the Volga River that took lives of 125 people was the result of a system where corruption, irresponsibility and indifference to human lives goes one step further with ineffective policy, unable to solve the problems Russia faces today. On the material of the Western media.
Businessmen and Politics
Russian politics and business become more and more interrelated. Russian businessman Mikhail Prokhorov recently headed the party Pravoe Delo. Why Prokhorov decided to become a politician and to head a party?
Capturing Moscow
Russian officials have discovered Swedish mobile operator Tele2 signal in the Moscow region. The company has no permission to work on this territory. The Federal Service for Supervision in the Sphere of Telecom, Information Technologies and Mass Communications (Roskomnadzor) has already warned Tele2 of a licenses revocation possibility.
Vekselberg to Redevelop ZIL Plant
Viktor Vekselberg, large Russian conglomerate, may invest about 3 billion dollars in a plant redevelopment. The concept involves changing the speciality of Likhachev's plant and rehousing. The plant occupies 275 acres, it is one of the largest places for construction in Moscow.
Electronic Era is Coming
From this moment any company may share with other companies their electronic documents instead of paper documents using. Web Service Diado appeared in Russia, it is used for transmitting documents via Internet.
Tverskaya Street is the Most Profitable Place for Retailers
The Forbes has researched the deal over Moscow's major avenue. Tverskaya street is a profitable place, it's an "eldorado" for retailers. But who owns Tverskaya street?
The Failure of BP-Rosneft Deal
BP's and Rosneft's deal for $16 billion collapsed. Russian state-owned company is out of the agreement with BP due to the refusal of the Russian shareholders of TNK-BP to sell its stake in the company, at this moment Rosneft is searching for the new partners.
Vimpelcom CEO Resigns
Alexander Izosimov, Chief Executive of Vimpelcom, will quit the company. Under his leadership Vimpelcom grew into a global telecommunication giant, becoming the first global company with Russian roots. Vimpelcom will replace Izosimov with Norwegian chairman Jo Lunder.
Yandex Plans IPO on Nasdaq
Russia's largest Internet search engine Yandex has officially announced about its plans to list shares on Nasdaq in New York. Yandex N.V., the parent company of Yandex, registered in the Netherlands, said it had sent a request to the Commission's Securities and Exchange to list shares on Nasdaq.
Oil Deliveries Dispute
It's been a long time since Russia and China couldn't agree on future gas supplies and have already fallen out due to the terms of existing contract for oil supplies. Russian side has accused China of violating the treaty and asks to return 100 million dollars of the debt. Otherwise, Moscow will take the matter to the international court.
Fastfood Business in Russia
Russian market of fastfood has changed in recent years. New brands appear in Moscow and other cities, most of them came from abroad, the old ones are trying to introduce new services to retain their positions.
A Mysterious Case of Victor Bout
At the beginning of March, a hearing on the case of Russian businessman Victor Bout has started. The hearings were held in Federal Court of Southern District of New York in Manhattan. In the U.S. Russian businessmen is accused of arms trafficking, terrorists cooperation and numerous financial frauds.
Businessmen Wanted
The Investigative Committee is searching for ex-executives of IzhAvto and SOK Group company. Top-managers, including Yuri Kachmazov, are hiding from the investigation. Businessmen are accused of premeditated bankruptcy of IzhAvto and the theft of 6,7 billion rubles (230 million dollars) in assets from the factory.
Exiled Chichvarkin won't Go back to Russia
The former CEO of cell phone retailer Euroset Yevgeny Chichvarkin, now London resident, is planning to do business, but not in Russia.
A Farewell to Russia. Murdoch Quits
Billionaire Rupert Murdoch is going to sell his assets in Russian business. "This is purely me, Im sorry: the more I read about investments in Russia, the less I like the feel of it. The more successful wed be, the more vulnerable wed be to have it stolen from us, so there we sell now", said Murdoch.
Doing Business in Russia is Like Playing Roulette
Russia looks attractive for investment and business development, but the problem of possible risks still remains. Unfortunately, due to poor law enforcement, the proliferation of weapons and corruption, Russia suffers from a wide variety of crime.
The Cherkizovsky Market Revival
The Cherkizovsky Market, Europes largest marketplace, closed down on June 29, 2009, is going to be revived. Entrepreneurs proposed the authorities to build a wholesale trade complex of about 400 thousand square meters in the industrial area called Kaloshino.
Coca-Cola Plans to Take Over the Russian Market
In tough times the majority of international companies tend to cut jobs and wind down business projects, but it has nothing to do with Coca-Cola strategies the global leader in the beverage industry says it eyes to start expanding its business empire by acquisition of smaller drink producers unable to survive now and promoting new brands.
Russian Investment Companies
Investing in Russias fast emerging economy often seems a good idea for foreign businessmen, who beckoned by high profits put money in steel works, oil-processing plants and other fields. Here is the list of leading Russian finance companies, which can make investing process in Russia easier.
Russian Real Estate Developers
After a construction boom in the mid-2000s, the industry took a dive during the 2008 financial crisis, losing some of the key players. It rebounded a couple of years ago, but the volumes are still lagging behind, stifled by high mortgage rates.
Russian Machine-Building Plants
The Russian machine-building industry has struggled through the time of the desperate 1990s, when the vast majority of enterprises had to close down or went bankrupt without the governmental support. Some plants stopped manufacturing military goods and turned to civil production, but others survived and here is a short list of them.
Russian Breweries
Recent survey has showed the Russians are big beer lovers and prefer this hopped drink to wine. Such foreign brands as Holsten, Miller, Guinness, Velkopopovicky Kozel and Tuborg have to compete with the most popular Russian beer trade marks. Some of them are exported and available abroad. Here they are.
Russia Lost Positions in Fur Market
Furs export has always been the Russian domain in the overseas markets. Several decades ago the Soviet Union was among the top three biggest fur exporting countries. It may sound funny, but Russia is on the contrary number one in fur import today 80% of the Russian fur market is taken over by foreign companies.
Russian Vodka Producers
Vodka is one of the words strongly associated with Russia. Being a national alcoholic drink, Russian vodka numbers over 100 brands produced all over the country. No common family celebration is possible without drinking vodka; unless you are under 18 or simply dont take strong alcohol. Below you will find the information on the biggest Russian producers of most popular vodka brands.
Russian Mobile Operators
2012 saw 230.49 million mobile subscribers in Russia, up from 229.82 million three months earlier, according to research by AC&M. Penetration rose to 161.3 percent from 160.9 percent over the same period. MTS took just over half the net subscriber additions in the 4Q, while Tele2 Russia accounted for 38 percent. MTS strengthened its lead to 31 percent of the overall market, with 71.23 million customers at year-end. Beeline's base contracted by around 70,000 in the quarter to 56.11 million customers, and Megafon lost 236,000 subscribers to finish the year at 62.57 million. Tele2 Russia had 11 percent of the market, with 22.72 million customers, and Rostelecom ended 2012 with 13.56 million mobile customers.
Russian Airlines
Long distances, remote cities and relatives living so far away that is true about Russia. No wonder, that planes are very often the only possible transport able to take you to your destination point on time. Today lots of air carriers can fly you from one Russian city to another or abroad. Here are some notes about the biggest Russian airlines for you to choose from.
Russian Chocolate Factories
A study by KPMG shows that Russia is one of the most promising emerging markets for chocolate manufacturers. Experts agree that Russians tend to appreciate quality and increasingly buy handmade chocolates, while chocolatiers appear to be unprepared for such explosive growth.
Russian Banks
For many years the Russians had access to the only bank existent in the banking sector of the Soviet Union the Sberbank, or the savings bank, while now they are free to choose among some 900 lenders. Here the list of the biggest banks operating in Russia today.
Russian Car Manufacturers
About 30 years ago Soviet citizens could only dream about a car, which was never regarded as just a vehicle. To enjoy driving their own car people had to register for a waiting list and only then they had a right to purchase a private auto. Today city citizens prefer foreign cars to domestic ones, but there was the time when having a car was a special privilege placing the lucky person above all others. Here are some notes about the key Russian car manufacturers fighting for Russian consumers.
Russian Aircraft Manufacturers
Nowadays Russia is not sufficiently represented at the world aviation market, since the key roles are played by foreign aircraft manufacturers. However, it doesnt mean Russians have nothing to be proud of in the field of aircraft construction. Here you can find the information about Russian leading aircraft builders and design bureaus.
Russian Metallurgical Companies
The metallurgical industry of Russia is one of most rapidly developing sectors. Here is a list of Russian metallurgical companies occupying key positions on the market.
Russian Oil and Gas Companies
Much is told today about oil invasion of Russia to the world markets, therefore it can be useful to learn more about the leading oil and gaz companies, locomotives of the Russian economy and business.
Russian Toy Market
The recent scandalous story about poisonous Chinese toys has made Russian officials think of the domestic toy market and inspect all goods produced in China and intended for children. At the same time the current situation may be used to show what part of the Russian toy market is controlled by domestic manufacturers.
Money has No Smell or the Most Stable Business in Russia
Lack of outhouses seems to be a weak spot of any modern city including Moscow, since all us sometimes or quite frequently feel the necessity to visit a water closet, and in case it is not around, some forget the shame and commit hooliganism entailing fines.
Soviet Speculators - Illegal Businessmen of the USSR
In one old Soviet film a young woman bought an exclusive dress in a shop and went to the dance floor in a local park. Imagine how embarrassed she was when saw dozens of ladies wearing similar dresses. This feature film reflected the reality with standard clothes, boots, things and uniforms typical for the Soviet Union.
Google in Russia: Interview
For over 10 years the Russian market has been found very attractive for foreign companies, and number of their Russian departments is growing fast. At Google International Party conducted recently Russia-IC arranged an interview with Vladimir Dolgov, head of Google department in Russia, and here is what he said.
London Forum: Visitors Outlook
About two weeks ago London greeted numerous top representatives of Russian business, who came to take part in the 10th Russian Economic Forum. Russia-IC had an opportunity to interview Evgueny Meshchaninov, the head of Guarant-InfoCentre, who appeared to become one of the attendants.
Trade and the Merchant Class of 16th Century
Russia of 16-17th centuries could be called a trading country, as trade of that time flourished. Despite the fact that Russia remained first of all agrarian, some changes in production occurred, manufacturers mastered new technologies.
1990-1991 First Exchanges at the Post-Soviet Space
Prices were set free, people felt lack of products in shops, the USSR collapsed but the Russian Federation hadnt been formed yet.
Ancient Rus: Trade and Crafts
Ancient Russia (Rus) occupied the territory of Eastern Europe and lay on trade routes running from Christian West to Muslim East and back. So far treasures have been found on the ways where caravans moved along.
Who will Control Alcohol Production?
Alcohol manufacturers being afraid of the government to introduce public monopoly suggested creation of a single unified agency the Alcohol Safety Council of Russia.
40 Most Expensive Russian Brands
Interbrand Zyntzmeyer & Lux AG agency together with weekly newspaper Business Week Russia published the yearly rating of 40 the most expensive Russian Brands.
Rosneft: Initial Public Offering Or Ostracism?
Russian oil giant Rosneft set up after the break-up of Yukos has initiated its IPO both in Russia and London.
Mortgage in Russia
Russians are facing a catch 22 situation in mortgage and housing with small or good, who knows? chances to break the vicious circle.


25% of Russian Companies are on the Verge of Bankruptcy
The increase in the number of potential bankrupts can be attributed to debts.
4.5 Million Entrepreneurs Went Bankrupt during the Pandemic in Russia
During the period of the pandemic in Russia, at least 4.5 million enterprises of the SME sector and individual entrepreneurs went bankrupt.
Russian Venture Capital Market Shrank by almost 10% in 2020
At the same time, the number of transactions decreased by more than one and a half times - from 130 to 78.
Half of Moscow Fitness Clubs may Go Bankrupt by the End of the Year
Up to 50% of Moscow fitness clubs may close by the end of 2020 or in the first quarter of 2021. Experts estimate the overall decline in the fitness and sports industry at 35%.
IT Sector Accounted for 60% of the Total Amount of All Venture Capital Investments in Russia
A total of $ 124 million was invested last year.
The First Serial Electric Car in Russia will be Available Next Year
The developers are completing tests of a prototype of the first mass electric car in Russia, Kama-1.
Cainiao Launches Free Shipping to Russia for Inexpensive Goods from AliExpress
The company will offer site sellers to take advantage of new delivery routes and take on the logistics costs.
Franchise Business in Russia Went Down
The number of applications for the purchase of a franchise in Russia decreased by 12% yoy.
Russian Delivery Market may Grow by almost 50%
By the end of the year, the Russian food delivery market may reach 258 billion rubles: growth will reach a record 47%,.
AliExpress will Store and Send Orders from Russian Regional Sellers
The AliExpress Russia company will now provide services for storing and sending orders for entrepreneurs from Russian regions.
AliExpress Russia is Going to Support Folk Crafts
The Russian branch of the AliExpress marketplace has launched a "Good Things" contest for representatives of folk crafts and related goods.
Moscow will Distribute to Businesses Free Accounts on eBay and Europages
The Moscow Export Center (MEC) is accepting applications for free accounts on the world's leading marketplaces until October 10.
TikTok will Host Official Business Webinars in Russia
The social network TikTok, as part of its B2B platform TikTok For Business, is launching a series of webinars for Russian entrepreneurs.
More than a Third of Russian Companies will not Survive Second Quarantine
39% of Russian companies may not survive a second quarantine in the event of a worsening epidemiological situation in the country.
American Retail Giant Walmart has Acquired a Robot Made by the Russian Promobot
The Russian developer's robot became a consultant in one of the Lider Hiper stores in Santiago, Chile.
Research: the Share of Creative Industries in Russia's GDP is Higher than the World Average
For the first time, the Center for Urban Competencies of the Agency for Strategic Initiatives (ASI) estimated the share of creative industries in the Russian economy: it turned out to be significantly higher than the world average.
Moscow Put up for Auction 68 Properties at Discounted Prices for SMEs
Companies will be able to compete for the right to lease premises for up to five years.
Visa: Almost 40% of SMEs Plan to Continue Working Remotely
At the same time, 20% of respondents indicated the negative impact of the remote work on the productivity of their employees.
Acceptance of Applications for Moscow Business Subsidies Resumed
There are three types of subsidies available.
Moscow Put up for Auction 27 Premises for Business in the City Center
Moscow authorities have put up for auction 27 premises in the Central Administrative District.
Netology has Launched a Free Business Course with Entrepreneurs from Silicon Valley
Netology Group is launching a free course on digital entrepreneurship Digital Dolina. 11 businessmen from Silicon Valley took part in it.
Moscow Business Turnover Returned to Pre-crisis Level
At the same time, certain industries still have a difficult time.
Research: Russians Do not Believe the Recommendations of Famous People
AliExpress Russia and Data Insight conducted a study on how Russians feel about product reviews.
AliExpress will Launch an Express Food Delivery Service in Russia
AliExpress Russia (owned by Alibaba Group, Group, MegaFon and RDIF), together with the Samokat service, is launching express delivery of products and consumer goods in Russia.
AliExpress will Allow the Self-employed Opening Stores on the Site
Self-employed from 75 regions of Russia will be able to open their own stores on the AliExpress marketplace.
Small Business Returned to Stagnation after a Period of Activity
Business activity index in July fell from 45 to 44.2 points.
Business Profits Fell by 67% in Spring
The cumulative drop in business profits in March-May 2020 was 67%.
More than a Third of Russian Enterprises are Unprofitable
In January-May 2020, the share of unprofitable enterprises in Russia reached 36%.
Catering Companies Change their Business due to the Pandemic
The Russian catering market, the volume of which exceeded 60 billion rubles at the end of 2019, may be reduced to 25 billion rubles by the end of this year.
Mastercard Launched a Non-cash Tip Service in Russia
The Mastercard payment system in partnership with the Etiquette platform has launched a non-cash tip service in Russia.
More than 6 Thousand Moscow Stores were Fined for Violating the Mask and Glove Regime
The total amount of fines for violation of the mask regime in Moscow stores exceeded 300 million rubles.
Yandex is Planning to Launch its Own Financial Ecosystem
Yandex plans to start working in the banking and financial sectors.
The State Duma Adopted a Law on Tax Maneuver for IT Companies
The State Duma adopted a bill on tax maneuver for IT companies in the third final reading.
Internet Trade in Moscow Grew 1.5 Times during the Crisis
During the period of crisis and restrictions in Moscow, the volume of e-commerce has grown by 1.5 times compared to the pre-crisis indicators.
Vkusvill Stores will Pour Water Free of Charge to Combat Disposable Bottles
The company decided to pour water for free in order to encourage customers to avoid plastic bottles.
Medical Insurance Startup BestDoctor Raised $ 4.5 Million from International Funds
BestDoctor develops an online health insurance platform.
TikTok Small Business Advertising Platform will be Available in Russia
The social network TikTok is launching its advertising platform for small and medium-sized businesses TikTok for Business in Russia.
Russia is in the Top 5 European Countries with the Worst Consumer Sentiment
In the second quarter, consumer confidence fell from 19% to 30%.
Quarters of Russian Shopping Centers Threatened with Closure
A quarter of Russian shopping centers may close if the state does not provide them with tax subsidies.
The Growth of Online Trading in Russia Accelerated due to a Pandemic
The coronavirus pandemic and self-isolation regime have become a stimulating factor for the growth of the Russian Internet trading market.
AnderSon Russian Cafe Network has Become a Partner of the AliExpress Platform
They started selling positions from the menu at the marketplace.
Russia Fell to the 50th Place in the Ranking of the Best Places to Do Business
Over the year, Russia dropped five positions in the list and took a place between Greece and Romania.
Almost 60% of Restaurants were Unable to Adapt to Quarantine
About 57% of catering establishments could not adapt to the restrictions regime and start the take-away or delivery format.
VkusVill Opened in Netherlands
The first VkusVill store opened in Amsterdam.
Russia is Ahead of Other Countries in the Number of Women Leaders
The index of women in managerial positions in Russia is 0.7 (on a scale of 0 to 1, where 1 implies full equality of men and women).
More than a Third of Russian Companies from Various Industries can Become Bankrupt
80% of companies expect their counterparties to go bankrupt.
The Turnover of SMEs Fell by More than 50% in April
In Moscow, the turnover of the SME sector fell more than in other regions - by 79%.
Elementaree Delivery Service Raises $ 5 Million Investment
Elementaree grocery delivery service has attracted investments from the Russian Direct Investment Fund (RDIF), Bonduelle and a number of Middle Eastern partners.
Restrictive Measures for Moscow Business have been Extended until May 31
From May 12, only industrial enterprises, as well as construction projects, will be allowed to resume work.
Research: Most Small and Micro-business Companies Expect to Reach Pre-crisis Indicators within Six Months
Only 20% of companies can work at full strength in the face of restrictive measures.
Half of SMEs in Russia Suspended their Work
56% of the small and medium-sized enterprises (SMEs) suspended their work due to restrictive measures taken to combat a new type of coronavirus.
By the End of 2020, the Fall of the Russian IT Segment may Exceed 30%
In general, the situation may be worse than during the crisis of 2015.
Only a Third of Russian SMEs will be Able to Receive State Support
Three quarters of Russian companies from the small and medium business sector will not be able to apply for state assistance in paying salaries.
Revenues of Russian Video Bloggers are Falling Amid the Crisis
Due to the reduced activity of advertisers, some bloggers lose up to 40% of their revenue in dollar terms.
60% of Russian Entrepreneurs can no Longer Cope with Rental Payments
Study: the majority of Russian entrepreneurs can no longer cope with the payment of rent.
Russian Restaurateurs will Close from 20 to 50% of Establishments Due to the Crisis
The situation in the industry may worsen if the state does not resolve the issue of tax holidays and affordable financing.
Moscow will Spend about 70 Billion Rubles on Measures to Support Business
It is noted that the total amount of assistance may vary depending on how popular soft loans will be among small businesses.
Tochka Bank Launches Assistance Fund for Affected Entrepreneurs
The Tochka Entrepreneurship Bank has launched a fund to support businesses affected by the coronavirus pandemic.
Russian Educational AI-startup Raised a Million Dollars of Investment
The Russian startup, which is developing a virtual English tutor, has attracted investments from the Leta Capital fund.
Small Businesses will Get Interest-free Loans from Banks
Russian authorities instructed to accelerate the allocation of funds to banks for the issuance of interest-free loans to small businesses.
Russian Measures to Support the Sectors Most Affected by Coronavirus
The government approved a list of measures to support organizations and individual entrepreneurs working in the areas most affected by the spread of the coronavirus COVID-19. The list of such industries includes catering, hospitality, air transportation, and consumer services.
Russia is Closing Restaurants
New restrictive measures are being introduced in Russia to prevent the spread of coronavirus infection.
Lawyers Launch Entrepreneurship Assistance Association to Consult Businesses
Lawyers create an Association of Assistance to Entrepreneurs against the background of the coronavirus epidemic.
The Russian Government will Support Catering Business and Hotels
The Ministry of Economic Development of the Russian Federation is preparing a package of measures to support the catering and hotel industries.
Main Problems of Doing Business in Russia
Foreign companies cite lack of staff and administrative barriers as the main problems of doing business in Russia.
Government Plans to Introduce Tax Breaks for Business Due to Coronavirus
The Russian government has developed a draft anti-crisis plan to support the economy in connection with the spread of a new type of coronavirus infection.
Every Fifth Russian Travel Agency May not Survive the Coronavirus Pandemic
Up to 20% of Russian travel companies may close due to the consequences of the new type of coronavirus pandemic COVID-19.
An Incubator for Social Entrepreneurs
Impact Hub Moscow has begun accepting applications for the 90 days challenge incubation program, created for social entrepreneurs.
Kirill Firsov, Creator of the Platform, was Arrested in the USA
The creator of the online store platform, Kirill Firsov, was arrested by agents of the Federal Bureau of Investigation (FBI) at John F. Kennedy Airport in New York.
CEO of Lamoda Invested in Russian Cosmetics Company Blom
The Russian cosmetics company Blom, which produces patches with bio-soluble hyaluronic microneedles, has attracted investments from Lamoda co-founder Burkhard Binder.
It is Planned to Introduce a Special Experimental Legal Regime for Testing Artificial Intelligence (AI) in Moscow
It is assumed that the experiment will involve legal entities participating in the development of AI, as well as goods and services based on this technology.
The Tula Devar Startup has been Included in the Ranking of the Most Promising VR/AR Projects of the Year
The Russian Devar company and the Russian-American Cerevrum company are on the list of the most promising projects using virtual or augmented reality technologies.
The Russian Travel Market can Grow by 9.4% - Up to $ 45.65 Billion
It is expected that the online segment will grow by 12.7% this year and that in the future it will still be ahead of the offline segment in terms of growth.
Embria will Invest One Million Dollars in the Russian Service
Embria company will invest one million dollars in the Russian platform for the marketing of ASOdesk mobile applications.
Russian Manufacturers are Looking for Alternative Suppliers, Due to the Coronavirus Epidemic in China
As a substitute for Chinese goods, they consider counterparties from Turkey, Italy and several Asian countries.
The Share of E-books in Russia Exceeded 10% of the Entire Segment
At the end of 2019, the sales of electronic and audio books in Russia amounted to 6.5 billion roubles in monetary terms, demonstrating a 35 percent increase.
Vkusvill Enters the Dutch Market
The Russian retailer Vkusvill chose the Netherlands as its first European market: the company registered a legal entity Vkusvill Netherlands B.V. in the country.
M.Video-Eldorado, X5 Retail Group, Hoff and Beeline will Create a Retail Innovation Tech Alliance
M.Video-Eldorado, X5 Retail Group, Beeline and Hoff are looking for innovative startups.
Wildberries may Bypass AliExpress in Russia in Terms of Turnover
Analysts believe that the success of the Chinese site in Russia forced Russian companies to reconsider their strategy.
The Number of Coffee Houses in Russia Exceeded the Quantity of Bars
In 2019, the number of coffee houses in Russian million-plus cities increased by 30%, reaching 6.8 thousand objects.
Ufa - the Most Dangerous City in Russia for the Retail and Restaurant Business
Most often, illegal actions in relation to business occur under the influence of alcohol.
Foreign Investments in Russian Assets Rose Sharply in 2019
Last year was the most successful in terms of investment activity since the introduction of sanctions.
The Absence of Chinese Tourists will Negatively Affect the Russian Market of Premium and Luxury Goods
According to the calculations of the Russian Standard Bank, the number of payments through the Chinese Alipay in January decreased by 31.2 percent.
IKEA Launches a Joint Project with Social Entrepreneur Guzel Sanzhapova
The Swedish company IKEA has launched a joint project with social entrepreneur Guzel Sanzhapova, who is engaged in the restoration of the village of Maly Turysh in the Sverdlovsk region.
Russian Post is Thinking of Launching a Corporate Venture Fund
The initial price of the contract makes up 59.8 million roubles; the contractor will have to prepare two documents - a long-term development program and an innovative development program.
The Russian Dating Service Mamba will Enter Turkish Market
The Russian dating service Mamba will invest more than one million dollars in entering the Turkish market in 2020.
YouDo Offers B2B Services
The service for the search of contractors YouDo launches a special platform where you can hire self-employed people for execution of orders.
Capsula Clothing Startup Got Investment From YellowRockets
Capsula startup developed for the selection and delivery of clothing has attracted investments from the YellowRockets fund, which manages the Samara region's venture capital fund.
The Russian Consumer Confidence Index Fell Down
By the end of 2019, the Russian consumer confidence index fell from 73 to 68 points after two quarters of growth.
Togobox Attracted 73 Million Roubles of Investments
The Mobile Product company installing vending machines in taxis under the Togobox brand, attracted investments from a group of investors including the son of the former co-owner of Raspadskaya coal company Artem Kozovoy.
The Service for Hiring General Laborers Attracted Investment from Two Business Angels
Rabochiye Ruki LLC allows companies to find laborers at a fixed price.
Two More Dollar Billionaires have been Recorded in Russia
The founders of Veeam Software Ratmir Timashev and Andrei Baronov became dollar billionaires after a deal on selling the company concluded to the American Insight Partner fund.
The Number of Commercial Organizations in Russia Decreased by 12.4%
The number of commercial organizations (LLCs and other enterprises) in Russia decreased by 12.4%, down to 3.08 million companies from January to December 2019.
Russian Online Cinema IVI will Conduct an IPO on NASDAQ
The Russian online cinema ivi will conduct an initial public offering (IPO) on the US exchange NASDAQ.
IIDF Subsidiary has Developed a Platform for Selling Personal Data to Business
IDX, a subsidiary of the Internet Initiatives Development Fund (IIDF), is launching the Datamania platform to sell the right to use the personal data.
Russian Startup was Recognized as the Best at the GESAwards Educational Projects Competition prize amounted to 100 thousand dollars.
The Founder of Yandex will Sell about Two Million Shares of the Company
The founder of Yandex, Arkady Volozh, will start selling off the company's shares belonging to him and his family trust.
English School for Children Novakid Raised $ 1.5 Million Investment
Russian EdTech startup Novakid, developing an English language school for children, has attracted an investment of $ 1.5 million.
Technology Parks for Creative Industries will be Launched in Moscow
Technoparks will provide the necessary infrastructure for companies in the creative sector - publishing houses, design studios, film companies, etc.
Microsoft and Partners will Help Russian Startups Enter the International Market
Microsoft, together with EY, Startupbootcamp and investment holding Altergate, are launching a program to support Russian startups when entering the international market.
The Share of Small and Medium-sized Businesses in the Economy Decreased
Rosstat reported a decrease in the share of small and medium-sized businesses in the economy.
Blockchain Development Costs in Russia will be Halved
The new roadmap provides for an investment of 9.5 billion budgetary and 18.9 billion rubles of extrabudgetary funds. At the same time, the introduction of technologies will allow the economy to save about 500 billion rubles and earn about 600 billion more in taxes.
RDIF will Create a Payment System Together with Alipay and Other Partners
The Russian Direct Investment Fund (RDIF), the Chinese company Alipay, Mail.Ru Group, USM and Megafon will become partners in creating a common payment system.
Moscow Entrepreneurs Got More than 26 Billion Rubles of Loans with Guarantee Support in 2019
Compared to 2018, the indicator grew by 17%.
"Azbuka Vkusa" will Start Selling its Products through Ozon
The marketplace presents more than 500 positions under its own brands.
Potanin Became the Richest Russian Billionaire of the Year According to Bloomberg
The CEO and co-owner of Norilsk Nickel topped the ranking of the most wealthy Russian billionaires in 2019, compiled by Bloomberg.
Wildberries Enters the European Market and Opens a Platform in Poland
The largest Russian online retailer, Wildberries, is entering the European market: Poland will be the first EU country to launch the online store.
The Pessimism of Small Businesses has Grown Stronger in the First Half of 2019
In recent years, greater negativity indicators were observed only in 2015.
Russian Bloggers Account for 10 to 15 Billion Roubles of All Advertising Budgets of the Country Per Year
In terms of volume, the advertising revenues of bloggers are comparable to the advertising revenues of the radio segment.
StartersHub will Support Startups from Russia and Eastern Europe
Turkish-American venture capital fund StartersHub plans to support 60 high-tech startups from Russia and Eastern Europe over the next four years.
An Online Grocery Store Selling Goods from Russia has Opened in the Tmall Food Segment
The agreement on the creation of the store was signed in September by the Russian Export Centre (REC) and the Chinese Epinduo company.
A Free Business Accelerator was Launched in Moscow
The training program is designed for the representatives of the fields of beauty industry, preschool education and tourism - both for beginning entrepreneurs and those who want to scale their business.
Joom Marketplace will Start Selling Products Made by Russian Manufacturers
Joom has already involved over 50 Russian sellers.
The Fastest Growing Enterprises in Russia
The Yargeo oil and gas company has topped the ranking of the fastest growing enterprises in Russia in 2019.
The X-Cart E-commerce Platform from Ulyanovsk will be Merged with the American SellerLabs Company
The merger will take place through a stock exchange; together the companies will form the Seller Labs Group including all assets.
Seven Russian Companies Got into the Top 500 of the Global 2000 Ranking: The Worlds Best Employers by Forbes
The highest position among Russians belongs to the Nornickel company that ranked 36th; there are no other Russian companies in the top 100.
Russia Ranks Third in the World in Terms of Fintech Services Penetration
Russia ranks third among the 20 largest world markets in terms of penetration of fintech services.
Central Bank: the Russian Crowdfunding Market Fell Sharply in 2019
In the first nine months of 2019, the Russian crowdfunding market declined by 42%.
American Retailer Acquired 25% of Familia Store Chain
Large American retailer TJX Companies acquired a 25% stake in Familias Russian chain of stores.
American Marketplace iHerb Opens a Division in Russia
IHerb Marketplace sells natural supplements, cosmetics and other products. The Russian market is the largest for iHerb.
The Largest Russian Companies have Accumulated over 3.4 Trillion Rubles in their Accounts
Gazprom has become the company with the largest reserve of funds accumulated in accounts in Russia.
Sberbank has launched its SberMarket product delivery service
Sberbank has launched its SberMarket product delivery service in 31 cities of Russia, including Moscow, St. Petersburg, Yekaterinburg and Novosibirsk.
The Number of People Employed in the SME Sector Decreased by Almost 600 Thousand People
The number of people employed in the small and medium-sized business sector in Russia reached 15.4 million in October this year, decreasing by 567 thousand compared to the same period last year.
Russian Tickets' Resale Platform Attracted $ 1 Million from Private Investors
The funds received are planned to be spent on platform development, marketing, team strengthening and the introduction of new technologies.
The HSE Business Incubator Has Become the Best University Accelerator in the World
The business incubator of the Higher School of Economics (HSE) was recognized as the best university accelerator in the world according to UBI Global.
Business Activity of Russian SMEs is Close to Stagnation
According to the results of the third quarter of 2019, the value of the index of business activity of small and medium-sized enterprises (RSBI) in Russia fell to 50.9 points. The current rating indicates that the business activity of the SME sector in Russia is close to stagnation.
New Safe Transaction Service for Small Companies
Alfa-Bank has launched the Safe Transaction service, which will allow small companies to conduct transactions between each other without contacting a bank or a lawyer.
The Russian E-sports Market can Grow up to $ 100 Million in Four Years
In the coming years, the audience in this entertainment segment can reach 22 million people.
New Educational Startup Accelerator will be Launched
Netology Group is launching its own Startup.EdMarket accelerator meant for the projects in the field of education.
Chinese Company May Receive 100% of the Shares of the Russian Intourist Tour Operator
The Fosun investment company from China may receive 100% of the shares of the Russian Intourist tour operator after the bankruptcy of the British Thomas Cook holding that included the tour operator, if it is agreed with external managers.
The PMI of Manufacturing Companies Dropped Down
In September of this year, the PMI of manufacturing companies dropped to 46.3 points, which has become the lowest indicator since May 2009.
Shadow Sector Salaries in Russia
The Government of the Russian Federation estimates the amount of salaries in the shadow sector of the economy at 10 trillion roubles.
Yandex Ranked Among the Fastest Growing Companies in the World
Yandex took the 24th place in the list of the fastest growing companies in the world, compiled by the American magazine Fortune.
The Service for Gamers Legionfarm has Attracted $ 1.5 Million
With the help of Legionfarm, gamers can move faster through the game: the service allows players to hire advanced gamers to complete quests or gain new levels in online multiplayer games faster.
Russian Startups will be Able to Take Part in the Facebook Accelerator
Startups from Europe, the Middle East and Africa will be able to take part in the Facebook accelerator for the first time.
A Joint Fund will be Created for Investments in Technology Companies in Russia and South Korea
The fund will be interested in startups involved in smart city technology, medicine and high-end industry.
5G Laboratory for Startups
MTS plans to open a 5G laboratory for startups developing products on the basis of the fifth generation network in a number of fields, including in cloud rendering, remote game play and new formats for data computing and storing.
AliExpress Started to Cooperate with VKontakte
A service with a full marketplace range developed on VK MiniApps has appeared on the social network.
The PwC Russia Accelerator is Looking for Technical Startups
The accelerator is looking for projects with a strong team at the MVP stage and higher.
Yandex Company has Launched its Own Collection of Children's Clothes
Yandex company has launched its own collection of children's clothes dedicated to space theme.
The Most Successful Entrepreneurial Dynasties
The Gutseriev clan has headed the sixth ranking of the most successful entrepreneurial dynasties, according to Forbes.
Sberbank and the California Accelerator 500 Startups Started to Accept Applications
The second round of the accelerator, organized by Sberbank and the California accelerator 500 Startups started to accept applications.
VkusVill Network Plans to Expand in Europe
In particular, the possibility of opening a store in Paris is being considered.
Russian Railways Launches its Own Corporate Accelerator for High-tech Startups
Russian Railways is interested in technologies that will improve the infrastructure of the railway, traffic control and rolling stock.
Russian Buyers Prefer to Purchase Food Products with the Marks about Natural Origin
The food products from the categories of ready-made breakfasts, cereals, juices, yogurts and chips with a designation of natural origin account for at least 29% of sales.
Russian Buyers Prefer to Purchase Food Products with the Marks about Natural Origin
The food products from the categories of ready-made breakfasts, cereals, juices, yogurts and chips with a designation of natural origin account for at least 29% of sales.
The Cumulative Wealth of the Richest Russians has Grown by $ 35.6 Billion
The first line in the Russian segment of the index is taken by co-owner of Novatek Leonid Mikhelson.
Sberbank and Group will Create a Joint Venture
The company will be created on the basis of DeliveryClub and Citimobil; the parties plan that it will become the leading Russian platform for online-to-offline services in the field of food and transportation.
The Russian SOK Co-working Network will Expand Abroad
The Russian SOK co-working network plans to expand to Israel and the United States: the first co-working space of the network in Tel Aviv should open this year.
Russia will Get its Cheese Valley
The construction of the first plants has started at the Syrnaya Dolina (Cheese Valley) agricultural park in Dmitrovsky district of Moscow Oblast.
10 Startups have Become Finalists of the MTS Corporate Accelerator
The list includes projects in the spheres of HR, e-sports and fintech.
Russian Company Raises $ 15 Million from a Group of Investors
The express delivery service Dostavista has raised $ 15 million from a group of investors: funds Vostok New Ventures, Flashpoint and AddVenture. Terms of the transaction and company valuation is not disclosed.
Online Sale of Alcohol will be Legalized
The relevant departments will finalize bills on the legalization of the online sale of medicines and alcohol.
Russian Educational Startup Raises $ 6 Million Investment
MEL Science, an educational startup that developed a kit for conducting chemical experiments using VR technology, has attracted six million dollars.
Technical Recession in the Russian Economy is Predicted
Experts of the Stolypin Institute of Economics of Growth predict the onset of a technical recession in the Russian economy in 2019.
Roskomnadzor has Blocked the Service for the Delivery of Goods from Foreign Online Shops
Roskomnadzor has blocked the domain of the service for the delivery of goods from foreign online stores Shopfans by the decision of the Gaysky city court (Orenburg region).
More than Half of Entrepreneurs in Russia Consider their Occupation to be Dangerous
The Head of the Accounts Chamber (AC), Aleksei Kudrin, stated that more than half of entrepreneurs in Russia consider their occupation to be dangerous. In particular, he noted that attention should be paid to a number of issues related to the work of law enforcement agencies.
Russian Business Doesn't Go Digital
Strategy Partners consulting company has conducted a research on the readiness of Russian business for digital information.
Russian Meat is the Most Promising Category of Food to be Sold to China
The forecast of KPMG analysts took into account the current manufacturing plans of the entire sector and individual major players.
The Number of Ads for the Sale of Ready-made Businesses Increased
Against the background of growing numbers of people wishing to sell their businesses, the prices are falling. The price has decreased by 8% during the year; now the average cost of a ready-made business makes up 3.05 million roubles.
Russian Barista Robot Attracted More Investments
Foodtronics company has attracted 12 million investments from the Moscow Seed Fund and business angel Aleksandr Zhdanov. Foodtronics has developed a Fibbee barista robot - an automated coffee shop that makes coffee without human participation.
The Crunchbase Platfrom will Publish Information about the Russian Venture Capital Market
The Russian analytical platform Dsight will merge databases on technology projects with one of the world's largest platforms, Crunchbase.
Rostech will Support Technology Startups
Rostech has launched the Industry 4.0 investment fund, which will specialize in technology startups with ready-made technology.
Ministry of Agriculture will Support Regional Product Brands
The Ministry of Agriculture of the Russian Federation will develop measures to support regional food brands.
Business Activity in the Areas of Production and Services Fell Below a Critical Level
The PMI index, which reflects changes in the level of business activity in the manufacturing and services sectors, dropped to 49.2 points in June.
Abrau Durso and X5 Retail Group will Create a Joint Venture
The companies will create a joint venture and develop the Russian Loza wine brand, which has been owned by Abrau Durso since 2016.
A Joint Venture Fund that Will Invest in Projects in the Sphere of Medical and Pharmaceutical Industry will be Created
The priority areas for investment will be the production of high-tech medical products, development of new medicines in the field of oncology and their delivery systems, development of software for body functions monitoring, etc.
In 2018, 984 Thousand Legal Entities were Penalized Under Administrative Law in Russia
This figure has doubled since 2015: 400 thousand legal entities were fined then.
Investment Attractiveness of Russian Regions
The Agency for Strategic Initiatives (ASI) presented an annual ranking of the investment attractiveness of Russian regions. The ranking is for the first time headed by Moscow.
Sberbank and McDonalds will Cooperate in Innovational Development
Within the frame of the signed agreement, the companies intend to develop partnership in the field of acquiring, as well as in other innovative fields.
Russian IT Market is Growing
Russian IT market grew by 17% in 2018, as compared with 2017, reaching a volume of 1.5 trillion roubles.
Russian and China are Launching a Joint Scientific and Technology Innovation Fund
The fund will invest in projects in the fields of artificial technologies, innovative materials and space technologies.
More than 600 Thousand Russian Enterprises Went out of Business in 2018
The number of closed companies exceeded the number of those that were opened 2.14 times.
Russia Returned to the Top 10 European Countries in Terms of the Number of Projects with Direct Foreign Investment
A total of 211 such projects have been implemented during the year.
Xiaomi is Planning to Launch its Own Contactless Payment Service in Russia
The manufacturer of smartphones and smart devices Xiaomi is planning to launch its own contactless payment service, Mi Pay, in Russia.
A New Technopark will be Constructed in Moscow
A data centre with its capacity comparable to the entire domestic market may appear near Moscow. The project under the working title Istradigital involves the construction of a technopark with a data centre several dozen kilometers away from Moscow, along Novorizhskoye Highway.
Russian Online Retail Market is Growing
The Association of Internet Trade Companies (AITC) has estimated the growth of the online retail market in 2018 at 59%, as compared with 2017. This is the best indicator of growth for all the time of measurements - since 2010.
The Far Eastern High Technology Fund, Created in 2018, has Decided on its First Investments
The fund will invest 75 million roubles in the cloud telephony service for Hotlead business.
The Russian Startup BestDoctor Attracted the Investment of $ 3 Million
The Russian Startup BestDoctor, which deals with technologies in corporate health insurance, attracted the second round of investment of $ 3 million.
The Russian Direct Investment Fund will Invest in Artificial Intelligence
The Russian Direct Investment Fund (RDIF) has raised two billion dollars from foreign partners, and plans to invest them in Russian companies in the field of artificial intelligence.
Artificial Intelligence in Russian Business
38% of managers and leading specialists using artificial intelligence in their business are developing virtual assistants based on AI.
Russians Prefer Fast-food Restaurants
The number of visitors of fast-food restaurants in Russia grew by 16.7% in 2018; only in the fourth quarter of the year, the number of visitors increased by 8.9, as compared to the same period in 2017.
Russian Companies were Minimally Involved in the Transactions on the Purchase of Foreign Business in 2019
The indicator of the first quarter of 2019 has become the second lowest in the last 20 years; only the indicator for the first quarter of 2017 was worse, when there were no such transactions at all.
The Most Demanded Specialists in Russia
The most demanded specialists in Russia are sellers: they account for 13% of all job offers.
Tmall Marketplace will Start to Sell Medical Goods and Cosmetics in Russia
The first partners of Tmall in this direction were Optic-City and the distributor of Pharmaco-cosmetics: they will sell medical cosmetics and contact lenses.
It is Planned to Open 30 New My Business Centres in Russia in 2019
My Business centres operate by the one contact principle; entrepreneurs will be able to get all the necessary services for starting and running businesses at these centre.
The Number of Sentences Imposed by Russian Courts with Regards to Economic Crimes has Increased by 20%
A total of 7,700 people were found guilty of committing economic crimes.
Ozon.Invest P2B Financing Service
Ozon online retailer launched Ozon.Invest p2b financing service: using it, individuals will be able to invest in companies.
The Skolkovo Foundation Plans to Launch a Program for Start-ups
Business angels will be compensated for half of their investment in the startups at Skolkovo.
The Most Popular Online Services for Entrepreneurs
Since the beginning of 2019, online services for business have already been used more than 6.6 thousand times.
The Number of Individual Entrepreneurs in Russia has Exceeded the Number of Companies
During the entire period of analysis of state registers, the number of operating companies has always been higher than the number of individual entrepreneurs; however, since 2016 the number of companies has decreased.
1 - the Most Popular Russian Franchise
1C Company ranked first in the list of the most dynamically developing and popular franchises in Russia for the year 2018.
The Number of Offers on the Sale of Businesses Increased in Russia by 33%
The number of offers on the sale of businesses increased by 33% in the first quarter of 2019, as compared with the same period of last year.
Running Small Businesses in Moscow and St. Petersburg is Becoming Less Profitable
Running small businesses in Moscow and St. Petersburg is becoming less profitable: business payback periods are growing; investment attractiveness and profitability are decreasing.
The Level of Competition in Russia Increased for the First Time during Four Years
According to a study by the Analytical Centre under the Government (AC), the level of competition in Russia increased for the first time during four years, according to entrepreneurs: in 2019, 51% of the study participants rated the degree of competition as high or very high.
The Share of Unprofitable Organizations Increased in Russia
According to the data of the Federal State Statistics Service, the share of unprofitable organizations in the Russian Federation increased by 0.7% in January 2019 and reached the record indicator of 35.8%.
The Highest Outflow of Foreign Money Recorded in Russia
The current level of investment is at its lowest level for the last 21 years.
Kaliningrad Region is the First in Terms of Involvement of the Population in Small Business
Kaliningrad region topped the rating of regions with the greatest involvement of the population in small business.
Investment Environment in Russia is Negative for Foreign Investors
Investors think that the key problem hindering entrepreneurial activities in Russia is corruption (60% of respondents).
Cryptocurrency was Recognizedas as One of the Ways of Laundering Illegal Income
The concept of cryptocurrency was included in the resolution as of 2015 concerning cases of laundering money and property acquired by criminal means.
Russian Crowdfunding Market Grew by 34% during 2018
In 2018, the market grew mainly due to an increase in the segment of small and medium business loans, which accounted for 96% of all funds raised.
Malt Beer Became the Most Popular Product Exported from Moscow to China
Other popular products delivered to China include the remains of cereals, wheat flour, soybeans, pine nuts and waffles.
The Largest Office Centre in Europe is Located in Moscow
The Federation Tower in Moscow-City has been recognized as the largest office centre in Europe.
The Online Grocery Delivery Market Grew by 50% in Russia
The online grocery delivery market grew by 50%, reaching a volume of 23 billion rubles in 2018.
Forbes Rating Included Four Russians under the Age of 30
Forbes magazine has published a rating of the most promising people in Europe under the age of 30, which included four Russians.
The Fitch Ratings Agency Confirmed Russias Investment Rating at BBB Level
Russias ratings balance between a very strong sovereign balance, reliable external finances and reliable macroeconomic policies against a background of weaker growth prospects, high commodity dependence, weak management standards and geopolitical tension.
Moscow is Going to Sell 340 Real Estate Items for Small Businesses on Special Conditions
The cost of rental for small entrepreneurs will start from 1.5 and 4.5 thousand roubles per square meter.
The Number of Catering Establishments Continued to Grow in 2018
The most rapidly growing format was presented by takeaway establishments: their number grew by 57%.
Russia Plans to Launch the Approach of the Regulatory Guillotine
It is planned to launch the approach of the regulatory guillotine in Russia from February 1, 2020 (according to which the mandatory provisions of acts that did not receive special approval or changes automatically expire).
Russia Plans to Launch the Approach of the Regulatory Guillotine
It is planned to launch the approach of the regulatory guillotine in Russia from February 1, 2020 (according to which the mandatory provisions of acts that did not receive special approval or changes automatically expire).
The Russian Sistema_VC Fund Invested in the DataSine Project that is Engaged in Personalizing Content for Customers
The company is developing the Pomegranate platform that personalizes digital content - emails, SMS, phone scripts and even landing pages for customers.
The Moscow Authorities Plan to Simplify the Process of Entry of Businesses Into the Innovation Cluster
The bill on the innovation cluster has already been approved by the Presidium of the Government of Moscow
The Index of Business Activity of Russian SMEs Dropped Down
An index value of less than 50 points indicates a decline in business activity of the sector; the indicator fell below this mark in the third quarter of last year.
All Stores in Russia may be Obliged to Accept Bank Cards
The bill obliging all stores in Russia to accept bank cards for payment is under discussion in the government.
The Russian Startup StartRocket Plans to Create an Advertising Billboard in Near-earth Orbit
It is noted that the technology can be used not only for advertising purposes, but also for the transfer of emergency messages.
The Vkusvill Chain of Stores is Discussing the Possibility of an IPO
Various options are being considered: among them is the placement of up to 25% of the increased authorized capital on the Moscow Stock Exchange.
Large Foreign Companies Showed the Worst Results in Entering and Leaving the Russian Market in 2018
The activities of foreign brands in Russia are influenced by the fall in real incomes of Russians, as well as the active development of commerce on the Internet and changes in consumer demand.
The Share of High-tech Industries in the Russian Economy Fell Down in 2018
At the end of 2018, the share of high-tech and knowledge-intensive industries in the Russian economy fell to 21.3%, demonstrating the level of 2015.
The Application for Women Entrepreneurs will be Launched in Russia
The application for women entrepreneurs Qvalis has attracted 30 million rubles of investments.
The Share of SMEs in the Russian Economy Makes 21.9%
Rosstat published information about the share of the small and medium-sized businesses (SMEs) in Russia.
IIDF Annouonced Participants of Its New Accelerator
This year, the recruitment included many regional projects - startups from Chelyabinsk, Tomsk, Krasnodar, Khabarovsk and other cities.
Russia Ranked 27th in the Annual Bloomberg Innovation Index
Russia lost two positions in the ranking.
Russian Imports of Dairy Products May Reach a Minimum Level Over the Past 15 Years
According to the results of 2018, Russian imports of dairy products may decrease to 6.3-6.5 million tons, reaching a minimum level over the past 15 years.
The Growth Rate of the Catering Market Accelerated in 2018
Coffee shops became the second fastest growing segment in Russia.
The Number of Companies Set Up in Russia in 2018 Fell by Almost 20%
At the same time, the percentage of companies that have ceased operations is growing.
"Pobeda" has Become the Fourth Largest Russian Company
In 2018, the Pobeda's fleet increased. Now, it has twenty four Boeing 737-800 airplanes.
Cypriot Banks are Changing Attitude to Russian Clients
Cypriot banks started to require more information from Russian clients on their sources of income.
Russian Shrinkflation
Food manufacturers began to reduce packaging to hide growth in prices.
Mass Production of Aurus Cars will be Launched
ars will be manufactured in Alabuga (Tatarstan), where it is planned to create capacities for the production of five thousand cars per year.
Tatarstan Industrial Tourism
A new tourist route is planned to be launched in Tatarstan. It will be created for businessmen and students.
The Trade Turnover between Russia and China in 2018 Increased by 27.1 Percent
The trade turnover between Russia and China in 2018 increased by 27.1 percent and amounted to more than 107 billion dollars.
The Best Varieties of Russian Sparkling Wine
As part of the research Wine Guide of Russia, nine wine producers have been expertized by RusQuality.
SME in Moscow Received over 27.7 Billion Rubles of Loans with State Guarantee Support in 2018
The volume of guarantees of Small Business Assistance Fund in Moscow equaled to 13.7 billion rubles in total, which exceeded the previous year statistics by 13%.
AliExpress Russia will be Launched in 2019
The common joint venture of Mail.Ru Group, Alibaba Group, MegaFon and Russian Direct Investment Fund (RDIF) named AliExpress Russia may already start working in early 2019.
The Access to Government Subsidies has been Simplified
A decree making amendments to government acts regulating subsidies of organizations came into force.
The Purchase of Advertisements on Facebook for Russian Accounts will be Subject to a New VAT
It is noted that the tax will be levied regardless of the fact whether the advertisement is purchased for personal or commercial purposes.
The Most Popular Offshore Choice of Russians is the British Virgin Islands
The Federal Service for Financial Monitoring revealed nearly 4.2 thousand companies owned by Russian citizens, as a result of an analysis of the Panama Dossier materials.
The Russian Ivi Online Cinema has Become Available in the USA, Canada and the UK
Today Ivi is the leader of VoD services in Russia, accounting for about 24% of the online video market (the data as of January-July 2018).
Russia has Made up a Schedule for Reducing Oil Production by Months
In January, it is planned to reduce production by 50-60 thousand barrels per day.
Russians Believe that Domestic Cheese is Worse than Imported Varieties
More than 70% of respondents fully or partially agreed with the statement that imported cheese is tastier than Russian; only 15% said that the taste of domestic cheese was better. At the same time 80% of respondents believe that the production of cheese is useful for the countrys economy.
Current Trends of Russian Consumers
Russians save on food, however, they buy furniture, cars and medicines.
Russia will Transit to Electronic Employment Records in 2021
The corresponding bill was developed by the Ministry of Labor.
The State Support of Russian Winemakers will Increase 2 Times
The Ministry of Agriculture reported that state investments in domestic winemaking will reach 3 billion roubles in 2019.
Russian Companies Give Pessimistic Forecasts for International Trade
It is noted that Russian companies are expressing pessimism against the background of talks about strengthening sanctions.
Main Trends of the Russian Grocery Retail Trade
Further consolidation of retailers, development of promotion offers and the rivalry for the leadership between the major market players will determine the prospects for the development of retail trade in Russia.
Investors have Allocated $ 65 Million to Russian Funds over the Past Week
It is noted that the demand for Russian assets is quite high among American investors; according to market participants, these investors have shown greater interest than their European counterparts.
Tinkoff Bank - the Best Online Retail Bank
Global Finance International Banking and Finance magazine recognized Tinkoff Bank as the best online retail bank in the world in 2018 within the frame of the Best Digital Bank Award.
Russian Retailers are Getting More Concerned about Environmental Issues
Azbuka Vkusa (The Alphabet of Taste) and LavkaLavka retail chains abandoned the use of expendable packaging and plastic bags.
Vkontakte Launched New Service for Businessmen
Vkontakte social network has launched its own video constructor for creation of advertisements.
Russian Banks will get Compensation for their Lost Revenues
In 2019, the state plans to allocate up to 7.2 billion roubles for compensation of Russian banks for their lost revenues upon concessional lending to small and medium-sized businesses in priority sectors.
Digital Profile - the Platform for Collection of Data of Russian Citizens
The infrastructure for the Digital Profile unified platform - the platform for collection of data of Russian citizens - will be launched in late 2023. The access to this platform will be granted not only to state institutions and citizens, but also to commercial organizations.
Sales of Russian Wines Reached 52%
An average bill for the purchase of wine has amounted to 477 roubles.
The Demand for Fast-casual Format of Eateries is Growing
The demand for fast-casual format of eateries offering high quality food and fast service is growing: in the first half of 2018, this format accounted for 2% of all expenses of visitors of eateries in Russia.
Yandex.Market Starts Cooperation with Turkish Marketplace
Yandex.Market has reached an agreement on strategic partnership with - the largest marketplace in Turkey.
The Level of Quality of State Business Regulation in Russia Decreased
The estimate of the regulatory environment for business in Russia is in the negative area and amounts to -0.48; last year it made up -0.42.
Russian Exports in the Sphere of Services is Growing
Exports in the sphere of services have reached a volume of 30.9 billion dollars in the first half of 2018, showing the highest indicator since 2014.
The Tax Code will be Supplemented by the Chapters on Non-tax Payments
The bill will be prepared before the end of this year.
The Ministry of Economic Development is Changing Corporate Law
The Head of the Ministry of Economic Development and Trade proposed to create a mechanism of shares with different rights in Russia, including super-voting shares for founders and majority shareholders.
Oil Producers Expect to Raise the Amount of Compensation for the Regulation of Domestic Petrol Prices
A draft bill on the reduction of the conditional domestic prices for fuel used in the calculation of subsidies is already being developed.
The Export of Russian Oil has Increased by 34 Percent
According to the Federal Customs Service, fuel and energy products still constitute the basis of Russian exports.
Environmental Programs of the Russian Business
The heating and transportation company of the Siberian Generating Company in Krasnoyarsk has dismantled the 45-meter chimney and the emergency building of the municipal boiler-house No. 1 by the explosion method.
The Top Selling Cars in Russia
LadaVesta has become the top selling car in Russia this summer. According to the Association of European Business (AEB), 8,510 vehicles of this brand were sold in August.
The Amsterdam Court Seized the Shares of the Blue Stream Pipeline Company Joint Venture Belonging to Gazprom
Thus, the court satisfied the demands of Naftogaz of Ukraine which is seeking to charge more than $ 2.5 billion from Gazprom.
The Eastern Economic Forum Business Program
The program offers about 70 business events, including panel meetings, business dialogues, business breakfasts and roundtable discussions.
Skolkovo LegalTech 2018 Conference
Skolkovo LegalTech is the largest conference on modern technologies and projects by LegalTech in Russia and CIS countries meant for lawyers and all those interested in the latest news in the world of high technologies.
Electric Cars will not be Distributed in Russia in the Foreseeable Future Due to Low Demand
Private customers are not interested in buying electric cars because of high prices.
Strong Spirits: Vodka, Gin and Absinthe have Risen in Price in Russia
Their prices increased by 6-8 percent during the first seven months of the year
The Pension Fund of Russia (PFR) will Use Blockchain Technology
The Pension Fund of Russia (PFR) will monitor the employment contracts of Russians with the help of blockchain technology. The proposals on the merger of all information systems of the fund into a single digital platform will be prepared by the end of the year.
The Board of Directors of Aeroflot PJSC Elected Vitaly Savelyev as its General Director
This decision was made at a meeting of the Board chaired by Mikhail Poluboyarinov, based on the regulation of the government of the Russian Federation.
Negotiations between Alibaba and Group on the Establishment of a Joint Venture are at an Advanced Stage
The companies negotiate through the medication of the Russian Private Investment Fund. It is planned that the new company will engage in electronic commerce.
The United States and Saudi Arabia Surpassed Russia in Terms of Oil Production Volume
Thus, for the first time since 2002, Russia has descended to the third line.
Online Trade in Russia is Growing
In the first half of 2018 online trade in Moscow grew by 17 percent, exceeding the growth rate of Moscows trade turnover more than two times, according to the Department of Economic Policy and Development of Moscow.
Tax Privilege for the IT Exporters
The Skolkovo Foundation proposes to introduce a tax privilege for the exporters in the field of IT: in particular, it is proposed to introduce a tax deduction for input VAT - the tax paid upon equipment of the workplaces of programmers who write exported software.
A Bill on the Insurance of the Plans of Small Businesses Comes into Force
According to the law, the system of deposit insurance will be extended to small enterprises, in accordance with the criteria established by the state.
A Single Space for Cooperation between Start-ups, Investors and Universities
Moscow authorities are developing the idea of creating an innovation and production cluster that will become a single space for cooperation between start-ups, investors and universities.
Workload in Russia
63% of Russians are regularly kept late at their workplaces, most often because of a large amount of work (28%).
New Tax Law for Entrepreneurs in Russia Comes into Force
The law allowing the Federal Tax Service (FTS) to block accounts of entrepreneurs that for some reason did not pay insurance premiums comes into effect from August 30.
The Future Increase in the VAT will Affect Prices in Russia Soon
Despite the fact that VAT will be raised beginning from 2019, prices may start to grow soon.
Tele2 is Becoming the Most Popular Corporate Business Provider in Russia
Tele2, the most favourite mobile service provider in Russia, has demonstrated the growth of key business indicators in the corporate segment in the first half of 2018.
The Castro 10 (C10) Vessel has Started Preparatory Work on Laying Gas Pipes for the Nord Stream-2
The vessel is working on a marine coastal area which will be connected to the onshore section of the pipeline.
Russian Railways is Changing Information System to Follow the So-called "Yarovaya Law
Russian Railways OJSC is currently carrying out technical work to change the current information system.
Tax Free Systems Launched in Russia Shows Good Results
Foreign tourists bought goods for 943.8 million roubles through the tax free system during the World Cup-2018, submitting 11,270 checks to the customs authorities.
Employers are Obliged to Provide Employees with One Full Day Off Work for Medical Examinations
At this, the employees will retain their jobs and average salaries.
Registration Procedure for Foreign Workers in Russia has been Changed
Now employing companies can register foreign workers with migration service at the address of the office, warehouse, or residential premises owned by the company only in case their employees actually live at these addresses.
Audio Recording at the Proceedings on Civil Cases in the Russian Courts will Become Mandatory
An exception will be made for closed court hearings.
VAT in Russia will be Increased
The State Duma has adopted a law on increasing the rate of value added tax.
The State Duma has Permitted to Pay Taxes on Land, Property and Transport in Advance
It is possible to make payments for the Federal Tax Service through multifunctional centres.
Video Conferencing will be Used at the Proceedings on Administrative Cases in Russia
The State Duma has adopted the amendments to the Administrative Code of the Russian Federation in the first reading; thanks to these amendments, the participants in administrative cases will be able not to attend proceedings.
Legal Entities and Individual Entrepreneurs have been Exempted from Fees for Electronic Registration
The State Duma has adopted the corresponding law in the final third reading.
Export Duty on Oil will be Gradually Reduced to Zero
The State Duma has adopted two laws on the completion of the tax maneuver in the oil and gas industry in the third reading.
New Fines for Companies Hiring Foreigners to Work in Russia were Introduced
It should be controlled that foreign employees do not violate the purpose of their stay and leave the country on time.
New Law on Foreign Employees in Russia was Signed
The employers will monitor the compliance of their foreign employees with the terms of stay and the purpose of their visit.
The Bank of Russia has Conducted a Survey of Microlenders
According to the survey results, more than 70% of small and medium-sized entrepreneurs take microloans to cover cash shortages.
Bloomberg: Russian Retailers will Benefit from the Foreign Fans
Consumer expenditures will grow by $ 5 billion in Russia in June-July because of the fans who come to the Football World Cup, as Bloomberg reports with a reference to the forecast of the Bank of America.
Russian National Standard for the Development of Mobile Applications
The Federal Agency on Technical Regulating and Metrology has approved a preliminary version of the national standard for the development of mobile applications containing 87 requirements.
The FIFA World Cup in Russia has Led to a Sharp Increase in Sales in Various Fields of Businesses
The strongest effect of the championship has been perceived in the sales of souvenirs with football symbols: these grew 20 times, as compared to the period before the start of the championship.
The Web Portal of Public Procurements will Prepare a "Black List" of Russian Companies
The web portal of public procurements will create a register of legal entities that have been brought to justice for bribery in the past.
The Government will be Able to Increase Export Duties on Oil Products
The corresponding bill has been approved by the Federation Council.
The "Coffee and Milk" Index Fell in Russia by 4.5%
Russians began to buy less coffee, milk and chocolate.
The "White List" of Crypto Industry
The Russian Association of Crypto-Currency and Blockchain (RACB) has created a register of reliable companies working in the field of the crypto industry.
The Most Saleable Companies in Russia
The analysts of Avito summed up the sales of the ready-made business for the second quarter of 2018. The most saleable companies in Russia belong to the sphere of services, trade and public catering.
Registration of Companies in Russia will be Simplified
Amendments to simplify business registration will be prepared in three months.
Sberbank Technology has Become a Partner of Startup Village
As a partner, SberTech will rate projects that take part in the company and early stage project competitions and award a total of 1.5 million roubles to the three most promising entrants.
Sberbank Presents Ecosystem for Corporate Clients
The full list of non-financial services in the All Products section of Sberbank Business Online currently includes 24 services.
Sberbank has Become the Largest Acquirer in Europe for the Second Year in a Row
According to research company The Nilson Report, Sberbank has become the largest acquirer in Europe for the second year in a row.
Russian Government to Lower Tax Obligations for Regional Companies
Russian government plans to institute a number of measures for lowering tax burden for small and medium-sized businesses in the regions, Russian Minister of Finance Anton Siluanov said.
Russian Businessman Timchenko Refuses to Build Kerch Bridge
Russian tycoon and Putin's ally Gennady Timchenko has refused to build a bridge across the Strait of Kerch to the Crimean Peninsula fearing for his reputation.
Rosneft Calls Its New Mine Pobeda (Victory)
Igor Sechin called the success of the event a common victory of all project participants, as Rosneft Oil Company has successfully completed the drilling of the worlds northernmost Arctic mine Universitetskaya-1 which resulted in the discovery of oil in the license area of Vostochno-Prinovozemelsky-1 in the Kara Sea.
Russian Finance Ministry Plans to Ease Visa and MasterCard Restrictions
On Wednesday, June 25, Russian Finance Ministry published a draft resolution that softens operating conditions for Visa and MasterCard before they acquire the status of nationally significant card payment systems (CPS).
Visa and MasterCard Plan to Stay in Russia, Seek for Compromise
MasterCard stays in Russia 'in any case', while Visa hopes for a productive comprise with Russian authorities, the representatives of the companies said on Friday.
Russian Leading Toy Shop Seeks London Listing
A leading toy retailer owned by a major conglomerate in Russia has said that it has filed for permission from the central bank to list on the London Stock Exchange.
Jailed Russian Businessmen May Be Released Under an Amnesty
Thousands of jailed Russian businessmen may soon walk out thanks to a proposed economic amnesty, though Russian president calls that idea "raw".
Roman Abramovich Welcomes the Second Child With Dasha Zhukova
Last Monday one of the world's richest people has become a father for the 7th time. Roman Abramovich and Dasha Zhukova welcomed their second child together, a daughter Leah.
Russias Donskoi Tabak may acquire 34% in Greeces cigarette maker Sekap
The largest Russian independent tobacco factory, Donskoy Tabak, has reached an agreement on acquisition of 34% of Greek cigarette maker Sekap.
No Horse Meat in Russian IKEA Stores
The scandal with horse meat sold as beef that has spread throughout Europe does not seem to come to Russia just yet: IKEA Russia has been cleared of faulty meatballs.
Prokhorov Expected To Sell Polyus Gold Shares
Mikhail Prokhorov is to sell his share in Polyus Gold International, according to Bloomberg.
X5 Retail Group Losing Edge to Magnit
The Russian FMCG market is going through a change of leaders at the moment, with heavyweight X5 Retail Group slowly but surely giving way to regional leader Magnit.
Russia To Build $2BN Nuclear Power Plant in Bangladesh
Russia's state atomic energy corporation Rosatom says it will begin construction of an atomic power plant in Bangladesh in early 2014.
Transneft To Increase Investment for 2013
Transneft has unveiled an investment programme worth 161.5 billion roubles, or some $5.4 billion, up 50 percent on 2012 figures.
McDonalds intends to build a restaurant in Kemerovo
The chain of hamburger fast food restaurants McDonalds is going to take part in the auction to get a building plot for a restaurant in Kemerovo.
Investors to get 5-year business visa to Russia
Foreigners, who represent companies investing into the Russian economy or take part in the project Skolkovo and building International Finance Center, will get the opportunity to receive Russian business visa for five years.
In 2012 AvtoVaz has sold 537 625 Lada cars
In 2012 AvtoVaz has sold 537 thousand 625 Lada branded cars, says the company in its press-release. So the company sold about 44,8 thousand cars a month. Lada Priora and Lada Granta have become the most popular cars in Russia.
No way to buy beer in kiosk
From January 1, beer is classified as a strong alcohol, according to the law, which came into force from the start of the year.
--02-01-2013-- Seeking Entry in Russia is mulling expansion to the Russian market, with a possible acquisition of a major local player. Will Russia rise up to the expectations?
Gazprom Gets Most Controversial Company Title
Gazprom is the most controversial company in BRIC countries, according to a recent study.
Capital Outflow Continues
$60 million withdrawn from Russia over the past week alone as part of a nine week negative trend.
Russia's Up in Transparency International's Corruption Rating
Transparency International moves Russia to 133rd place in its CPI report, but it's unclear whether the latest corruption scandals have been reflected.
Russia SEO Conference Kicks Off in Moscow
One of the leading events in the Internet Marketing industry in Russia, Optimization-2012 conference takes place in Moscow on November 22-23, 2012.
Russia is ready to revise Georgian wine come back
Russia and Georgia are ready to solve the issue of returning Georgian wine into the Russian market practically, said the First Deputy Minister of Foreign Affairs Andrey Denisov. The supply of Georgian wine into Russia was banned in 2006.
Duty free alcohol is to be given over before a flight
Passengers will have to give over alcohol bought in duty free before a flight. The Ministry of transport is ready to support the Russian air lines, which have offered to ban alcoholic beverages on board.
--12-11-2012-- Group to expand worldwide under brand
Russian Internet company Group has claimed about its intention to expand in the international Internet markets, using its new global name
Controversial Tax Proposals by Moscow Mayor
Russian businesses may face a new tax which would be neither an income nor a payroll tax. Rather, it would be paid in advance and would not depend on whether you ultimately win or lose.
Yandex net income amounted $74.2 million in Q3
Yandex, the leading internet company in Russia, operating the country's most popular search engine and most visited website, today announced its unaudited financial results for the quarter ended September 30, 2012.
A large coffee producer is to sell its coffee business in Russia
The Israeli company Strauss Group, which owns some coffee brands like Black Card (Chernaya Karta) and Platinum, is negotiating on selling its coffee business in Russia.
Russian retailers may sell medicines
Russian retailers may get a permission to sell medicines, which do not require a prescription. Selling prescription-free medicines outside chemistries is to increase the competition in the pharmaceutical market and to cut down prices on the medicines.
Finnish stores to accept Rubles
In the South-East of Finland large stores have claimed they will accept Rubles as payments since December 2012.
--29-10-2012-- Group reduced its share in Facebook to 0.75%
In October Group has sold a part of its shares in the social net Facebook. According to the companys financial report for the third quarter, its share has reduced from 1.34% to 0.75%.
Renaissance Group opens a subsidiary in Nigeria
For the first time a Russian bank has entered the Nigerian financial market. A subsidiary of Renaissance Group has started working in this country, reports The Kommersant.
Global Franchise Group to open three fast food chains in Russia
Three American fast-food chains are planning to enter the Russian market. The American company Global Franchise Group will bring ice cream cafe Marble Slab Creamery, gourmet cookies cafe Great American Cookies and hand-rolled pretzels café Pretzelmaker.
French JCDecaux buys 25% of Russ Outdoor
JCDecaux, one of the world's leading outdoor advertising companies, is to acquire 25% share in the Russian Russ Outdoor from VTB Capital.
IKEA has acquired a plant near Novgorod
The IKEA Group strengthens its integrated value chain by signing an agreement acquiring a production facility for particle board in Novgorod, Russia.
A new luxury kids store is opened in Moscow
Today in the very center of Moscow, Kids GUM store has been opened. The store is offering luxury goods.
Transferring money from Russia became easier with Yandex.Money
Since October 18 System of the electronic payments of the Russian internet giant, Yandex.Money, (Yandex.Dengi) has let its users to transfer money from their accounts to any other bank account in any country in the world.
Russia written off $ 20 billion debt of African countries
Russia has written off more than $ 20 billion debt of African countries, said director of the Russian Foreign Ministry Department of International Organisations Vladimir Sergeyev at a session of the U.N. General Assembly.
Russian-owned The London Evening Standard claimed its first profit
The British newspaper The London Evening Standard, which is belonged to the Russian businessman Alexander Lebedev, has brought its first profit to its owner.
GUM has been recognized as a trade mark
GUM, the main department store of Moscow, has gained recognition of its abbreviation as a trade mark. Now the Moscow GUM can demand other as minimum 18 regional GUMs to change their names.
Russian Internet Week Opens Today
The fifth Russian Internet Week has opened in Moscow on Wednesday, October 17, 2012. Once again the industry leaders plan to discuss the future of the Russian Internet, as well as to discuss the opportunities and trends in online media, globally as in Russia.
Russian Railways electrified Iranian railways
Russian Railways has finalized the first joint Russian Iranian project in the railway sphere, reports the official press release of the Russian Railways.
Aeroflot sold its duty free chain at Sheremetyevo
Aeroflot has sold out 66.7% shares in the company ZAO Aeroferst, an operator of a duty free chain at the airport Sheremetyevo.
Russia's MD Medical Group attracted $ 311 million at IPO in London
Russia's MD Medical Group, which owns the clinic chain Mat I Ditya in Russia, has raised $311 million for new and existing shares (about 35%) at initial public offering in London.
Prices for the Sochi Olympics hotels to be limited by the state
Russian government can set up prices for hotel rooms in Sochi during Sochi 2014 Winter Olympic Games. Prices might vary from 2.9 thousand Rubles up to 13.9 thousand Rubles for a night.
Moscow sells its share in Radisson SAS Slavyanskaya hotel
The City of Moscow is to sell its 50% share in the Radisson SAS Slavyanskaya Hotel. The starting bidding price is 8 billion Rubles.
Rosatom may invest in British nuclear power industry
Rosatom State Nuclear Energy Corporation is interested in participation in the building and exploitation of new nuclear power plants in the United Kingdom.
MegaFon on IPO on London Stock Exchange
The second largest Russian mobile operator MegaFon has claimed about launching initial public offering (IPO) on the Moscow MICEX-RTS and London Stock Exchange (LSE) in the fourth quarter 2012.
Altimo increases its share in VimpelCom
The fund Altimo, holding the telecom investments of the Alfa Group Consortium, has increased its share in the VimpelCom capital from 51% to 52.7%. The voting stake has been increased from 40.5% to 41.8567%.
Renault Master might be produced in Russia
French carmaker Renault is considering the opportunity of producing light commercial vehicle Master in Russia.
BlackRock acquired a stake of Moscow stock exchange
BlackRock, the worlds largest asset manager, has acquired a share in the Moscow stock exchange from the Russia Direct Investment Fund.
90 thousand vending machines in Moscow to guarantee 40 billion turnover by 2015
The government of Moscow plans to increase the number of vending machines up to 90 thousand within three years.
Russian military export to exceed $13 million in 2012
In 2012 the export volume of military goods is expected to exceed $13 billion. The exact volume was not announced as the numbers may change'.
Russian chocolate market may grow 45% by 2016
According to KPMG research The chocolate of tomorrow: What todays market can tell us about the future, Russian chocolate market, which is now estimated $ 8 billion, may grow 45% by 2016.
KAMAZ announced 56.6 billion Rubles revenue
The largest Russian heavy truck manufacture KAMAZ OJSC has announced 56.6 billion Rubles revenue in the first half of 2012.
Electronic retailer Saturn leaves Russia
The German company Media-Saturn-Holding GmbH has given up developing brand Saturn in Russia. A shop Saturn in the shopping center Vegas in Moscow is changing its name to Media Markt.
Moscow will get $ 940 million for Sberbank privatization
Moscow budget will receive about $ 940 million due to Sberbanks SPO, reports Interfax.
$1,5 million diamond found in Yakutia
A unique diamond, weight 158,2 carats, estimated over $1,5 million, was found by JSC Alrosa, the largest diamond producer in Russia, in Yakutia in September.
Promsvyazbank to attract $ 500 million via IPO
On Monday OJSC Promsvyazbank has claimed about its intention to hold IPO with listing in Moscow and London. The expected sum of investments is estimated into $ 500 million.
iPhone 5 unofficial price in Moscow exceeded 3 times its cost in the USA
Unofficial price for the new Smartphone by Apple, iPhone 5, in the first hours of sales in Moscow exceeded more than three times its cost in the USA.
Italy to invest $250 million into growing roses in Russia
Italian businessmen have claimed about their intention of investing $ 250 million into building greenhouse complex for growing roses in Stavropol Kray.
Largest Search Engine in Russia Marks Its 15th Anniversary
Yandex, the largest search engine in Russia, marks its 15 th anniversary. The company has grown from a search engine into the largest Russian Internet resource with a wide verity of additional services
Sberbank is among ten largest Runet advertisers
Sberbank, the largest Russian credit organization, ranked the 6th in the rating of largest Runet advertisers, reports The Kommersant, referring to the research of the agency MindShare.
MTS and MegaFon started sales of nano-SIM cards for IPhone 5
Two Russian mobile operators, MTS and MegaFon have claimed about launching sales of SIM cards of new standards 4FF (nano-SIM) for IPhone 5. Beeline will offer new SIM cards in the nearest future.
AvtoVaz to open production in Kazakhstan
AvtoVaz, Russias largest automaker and a Kazakh Asia Avto have signed a memorandum on building a plant in Kazakhstan, which will produce Russian cars, says the official press release.
Russian Railways acquires 75% of the logistics operator Gefco
JSC Russian Railways, has commenced exclusive negotiations on acquiring 75% of the logistics operator Gefco from the French automaker PSA Peugeot Citroën.
Russian retailers may find long-term agreements with producers more profitable
The largest food retailers, X5 Retail Group, Dixy and Ashan, have an intention to switch into long-term contracts with food producers, reports RBC Daily. A contract may be signed for three- four years instead of one year like nowadays.
Vnesheconombank to invest $1.5 billion into Kiev metro
Federal center of the project finance, the subsidiary of the State Corporation Bank for Development and Foreign Economic Affairs has won the tender of the city of Kiev for investment consulting in building new stations of the city metro.
RBC to broadcast Russian Bloomberg
In September 2013 the Information agency RosBusinessConsulting plans to start broadcasting another business TV channel, Russian Bloomberg.
Technosila to sell nearly half of its operating shops
Technosila, one of the largest Russian home appliances net, is to sell its 40 out of 100 operating shops to its competitor Eldorado.
UralVagonZavod plans to acquire the French ABRF Industries
"UralVagonZavod" scientific industrial corporation" PLC may acquire the French railway car building company ABRF Industries till the end of the year, reports the Kommersant, referring to the General Director of the Russian corporation Oleg Sienko.
Decentralisation: Russians Recognise Regional Opportunities
In the last 6 years only 47 per cent of Russians sought to move to Moscow. More and more people believe they can find prosperity in the regions.
Carlsberg Group got ownership of 96.77% of Baltika Breweries
The Dutch company Carlsberg Group has increased its ownership of the Russian Baltika Breweries by 12.05% to 96.77% through a voluntary offer that expired on 9 August.
Moscow To Spend $1bln On Developing New Territories In 2013
Moscow is expected to spend $1bln in 2013, developing the newly acquired territories to a required standard.
Pussy Riot May Become a Trademark
The notorious punk band defense admitted that in April 2012 they have filed papers to make "Pussy Riot" a registered trademark.
The first large solar power plant to be built in Chelyabinsk
The first large solar energy project in Russia could be carried out in Chelyabinsk region. It will be a 100 MegaWatt generation.
John Lobb Bootmaker Now Trades in Moscow
John Lobb Bootmaker, a manufacturer and retailer of bespoke and ready-to-wear shoes for men, has opened two corners in Moscow luxury trading centres in summer 2012.
Pfizer-Owned Companies Embroiled In a Corruption Case in Russia
Two companies owned by the American Pfizer will now pay hefty fines for bribing healthcare officials in 4 countries in Eastern Europe, including Russia.
Emporio Armani Caffe Leaves Yekaterinburg
A branded Emporio Armani Caffe in Yekaterinburg has terminated a franchise agreement with the local owner; Corteo Caffe is in the making.
Advertisement Brings Big Profit To Yandex
Advertising has brought Yandex, the largest search engine in Russia, 6.664 billion Rubles in the second quarter of 2012. This is 1.5 times more than for the same period of 2011.
Chinese company to build tyre casing plant in Bashkiria
One of the largest tyre producer in China, Triangle Group, has decided upon its tyre plant location in Russia. The plant which will produce 4-6 million tyres a year will be placed in Bashkiria.
Hospitality Sector Developed By the Relative Of the Russian Railways Head
Several hotels localed within the easy reach from regional railroads are being built and developed by Andrei Yakunin, the son of the Head of the Russian Railways. Both sides deny nepotism.
The Goa Government Threatens to Expel Russian Entrepreneurs
The newly elected governor of Goa State in India threatened to close down the Russian and Israeli enclaves, if they continue using their native language in business.
Russia Officially Joins WTO
Russian President has signed the bill ratifying the country's accession into the World Trade Organization after 18 years of complicated negotiations.
French Company Develops the Chemical Plant in Saratov
New production lines will open in Saratov: the French company CNF plans to develop a chemical plant in the premises of Saratovorgsintez.
Central bank of Russia has sold more than $2 billion in June
In June 2012 the Central bank of Russia has sold $2.207 billion. That has become maximum net-sale since the start of the year. The Bank has also sold 173.11 million of Euro.
British newspapers have yielded a loss to the Russian Businessman
The company Lebedev Holdings, controlled by Russian businessman Evgeny Lebedev has reported a 22.5% increase in pre-tax losses to £27.4m in the year to 2 October, reports The Independent.
Yelena Baturina Visits Moscow to Give Testimonials in Court Case
The representative of Yelena Baturina has confirmed that the business lady is visiting Moscow to give the witness testimonial in the court case concerning the the Bank of Moscow.
360 Billion Rubles Contracts were Signed at St. Petersburg International Economic Forum
A total of 84 agreements were signed as part of SPIEF 2012 with 9 contracts having a combined value of more than 360 billion rubles, including 4 loan agreements for 164.4 billion rubles.
Russia has Made Vegetable Oil Export Record
In 2012 Russia has bitten its 2008 record on vegetable oil export. By the end of May oil export volume amounted 1.066 million of tons.
Largest Kids Store in Moscow to Change its Name
The largest kids store in Moscow, Detskiy Mir (Kids World) in Lubyanka St., has to change its name after reconstruction, says the President of Gals-Development, the company holding reconstruction of the kids shopping center, reports RIA News.
Science Cafe Organized in Moscow
The new project Science Cafe has been organized by the Department of Science, Industrial Policy and Entrepreneurship of Moscow. It works as a club for young entrepreneurs, scientists and politicians, who want to discuss the most relevant problems of modern science.
Russia is among fastest growing luxury markets
Russia, India and China are ranked the fastest growing luxury markets in the world. The growth sales in theses counties is expected to reach 18-20%.
Sales for electronic books has doubled
Demand for electronic books has doubled in Russia for the last year. Publishers have earned $135 million, according to the agency Rospechat.
Credit cards market in Russia exceeded $13 billion
The volume of credit cards market in Russia has exceeded $13 billion in the first quarter 2012. It is 15 % more than the index of the last three month 2011.
Nemiroff started bottling vodka in Russia
The shareholders of the Ukrainian company Nemiroff have started producing vodka at plants in Russia, in Penza Region and Tatar Republic.
Moscow Sells Liberty Cosmetics Factory
The oldest Moscow cosmetics factory Svoboda (Liberty) was sold by the Moscow authorities at the auction on March 29.
BMW Withdrew 15,000 Cars from the Russian Market
BMW withdrew 15,000 models of 5 and 6 Series produced between 2003 and 2010. This is due to a technical fault that can affect the process of starting a car.
Design and Advertising Exhibition Comes to Moscow in April 2012
18th Design and Architecture Exhibition at the Central House of the Artists in Moscow is expected to present the latest innovations in all spheres of Advertising Industry.
SberBank of Russia Supports Small Businesses
SberBank of Russia plans to open up to 10 support centres for small businesses in the capital, the Moscow Government announces.
Russia Is Ahead of Britain in Broadband Internet Access
According to a survey conducted by JSon and Partners Consulting, in 2011 Russia was ahead of Britain in providing broadband Internet access.
LG A290 Cell Phone with 3 SIM cards Premiered in Russia
LG has premiered a new phone on the Russian market. The new model will accommodate the needs of those who have different service providers: it comes equipped for 3 SIM cards and an Economy Regime to automatically switch between them.
The Oldest English Toy Store Hamleys to be Opened in Moscow
The toy store under the British brand Hamleys to be opened in Moscow. The first shop will be opened in the shopping center Evropeyskiy. The official opening ceremony is appointed at the end of March.
JFC bankruptcy doubled banana price in Russia
In Russia banana retail price has grown by 50% per cent since the mid February and amounts 51.87 Ruble per kilo ($ 1.73).
SIBUR and Relianc Industries form a Joint Venture to produce butyl rubber in India
The Russian petrochemical holding Sybur and Indian Reliance Industries (RIL) has created the joined venture on production butyl rubber in Jamnagar, India. Sibur will get 25.1 % share in exchange for its technologies.
Europejsky shopping center to be privatized
One of the most popular shopping center in Moscow, Europejsky, which is situated next to Kievsky Railway Station, to be completely privatized by businessmen God Nisanov and Zakhar Iliev.
Russian Movers and Shakers Are Announced
Within the special project dedicated to the 20th anniversary of modern Russia's history, the Financial Times has published the list of 25 most interesting Russians, so-called "movers and shakers".
Get VAT Back in Tax Free Russia!
Tax free system will be introduced in Russia from 2012. This will let foreign tourists to get value added tax back on the goods bought in Russia. Now VAT is Russia is 18%.
Retail in Russia 2011 Conference: Perspectives for Digital Future
The 7th international conference, Retail in Russia, organised by the Vedomosti newspaper, plans to discuss the perspectives for development for traditional retail and e-commerce, quality control, and investment opportunities. This one-day business event takes place on December 15, 2011.
Russian Small Towns Are in Risk Zone
The number of medium and small towns in Russia will fall in the nearest decades, claims the Ministry of Economic Development.
10 Ruble Space Coin is Issued by Central Bank
A 10 Rubles coin with a space ship, stars and the Earth depicted on it has been introduced into circulation today by the Central Bank. The space coin is devoted to the 50th Anniversary of the first human flight in space.
Gazprom to Build Gas Pipeline in North Korea
The state monopoly Gazprom will become the only builder of the North Korean section of the gas pipeline which will transfer the Russian Far East gas to the South Korea via North Korea.
Sogaz to Insure Gazprom for $2.8 bln
The Sogaz Insurance Group turned out the only applicant for making insurance contracts from 2012 up to 2016 with the state monopoly Gazprom, reports Interfax. The companies will make 12 contracts.
Resorts of the North Caucasus Want to Control All Resort Business in Russia
The Russian state company Resorts of the North Caucasus will strike for expanding its authorities. The RNC intends to suggest creating all-Russian resort operator on its base to the government.
Russia Gets Beltransgaz, Belarus Gets $165.60 Gas
The Russian state company Gazprom has acquired 50 % share in Beltransgaz for $ 2.5 billion, what makes it the sole owner of the Belarus pipeline which carries gas from Russia to the European Union.
Biggest Russian Food Retailer to Work Round the Clock
The biggest Russian food retailer X5 Retail Group will make its chain shops, Pyaterochka, Perekrestok and Karusel, work 24 hours a day. According to Kommersant, the company strikes to fulfill its profit plan.
Monaco FC to be Acquired by Russian Businessman
Russian businessman intends to invest $ 200 million into Monaco FC. The former owner of Uralkali, Dmitry Rybolovlev, is reported as a possible buyer.
Russia Grants $ 8 Billion to Vietnam for Building Nuclear Power Plant
Vietnam will get $ 8 billion credit money from Russia for building a nuclear power plant. The Russian state corporation Rosatom will carry out the constructing works.
Large Russian Cigarette Producer to be Sold to Foreign Investors
The last large Russian cigarette producer Donskoy Tabak may be sold to foreign investors by March 2012, reports Russian mass media.
VTB Bank Top-Manager Earns $ 25 Million in 2011
The most paid top-manager in Russia, according Forbes, earns $ 25 million. Forbes has called five Russian top-managers who are top-paid in 2011.
The New Stock Exchange Named MICEX RTS
The new stock exchange, which was created as a result of merging MICEX () and RTS (PTC), will get a temporary name MICEX RTS.
Qatar May Enter Gas Production in Russia
Qatar is interested in participation in gas production in Yamal and in Novatek assets.
North Korea to Earn $ 100 Million on Transiting Russian Gas
North Korea will gain from Russian gas pipeline from Far East to South Korea. As a transit territory for Russian gas supply, Democratic Peoples Republic of Korea will get about $ 100 million a year.
Russian Businessman Has Agreed to Sell France Soir for 1 Euro
Russian businessman Alexander Pugachev has agreed to sell his newspaper France Soir for one Euro, provided that a new owner pays out all the publishing houses debts.
APEC Jubilee Summit Comes to Vladivostok in 2012
The 20th summit of Asia-Pacific Economic Cooperation will be held in Vladivostok in 2012. The topics for discussion will include intellectual property rights and goods safety.
Joining WTO, Russia to Reduce Agricultural Customs Duties
Russia has agreed to reduce import duties for some groups of products as part of Russias membership in the World Trade Organization (WTO).
The Russian Top Model Sasha Pivovarova Stars in Giorgio Armani FW 11/12
The Russian supermodel Sasha Pivovarova is the star of the new video ad for Giorgio Armani's fall-winter 2011/12 collection.
The First Bangladeshi Nuclear Power Station to Be Built by Russia
The Russian state corporation Rosatom has signed an agreement on building the first nuclear power station in Bangladesh. According to the document, two energy units, 1 gigawatt each, will be built in the area of Ruppur in Bangladesh.
Korea to Become the First Foreign Investor in Resorts of the North Caucasus
Korea Western Power, one of the leaders in the green energy sphere, is to build a system of coil, sun and wind power stations. The Korean company has signed n agreement on investments with the state company Resorts of the North Caucasus. The sum of investments will make up $1 billion.
Subway Is Leading in Numbers of Fast Food Restaurants in Russia
Fast food net Subway has overcome McDonalds in number of restaurants in Russia. Last week Subway opened some new restaurants and their total number has reached 286.
Russian Banker Has Acquired a 50% Share in English FC
Russians keep on investing into English football. Maxim Demin, the co-owner of the bank Zenit has acquired 50 % of shares of Bournemouth football club from the club management.
Russia Plans to Build 20% of World Nuclear Power Stations
Rosatom plants to get no less than 20 % nuclear power station deals in the world market in the nearest twenty years.
Volvo Fashion Week, 26-31 October 2011 (And Russian Celebrity Phobias)
Mercedes-Benz Fashion Week just ending, another Fashion Week comes to Moscow until the end of October - sponsored by Volvo. Along comes a photographic project by Mikele Ceppi: a study into phobias of Russian celebrities
Barclays Banks Assets in Russia are Sold
Barclays Bank PLC has sold Barclays Bank LLC, including retail and commercial banking operations in Russia to a group of investors. One of the leading Russias banker, Igor Kim, is called among the investors.
IKEA to Start Car Wash Business in Kazan
The world largest furniture retailer IKEA plans to open a car wash net at its stores in Russia. The first car wash will be opened in November 2011 on the territory of Mega store in Kazan.
iPad Adds 5% of Customs Duties to its Price
Pads fitted out with GPS modules, among them Apple iPad2 Wi-Fi + 3G and Samsung Galaxy Tab, are regarded by the Federal Customs Service as navigators when imported into Russia. This makes them a subject of custom duties as much as 5 %.
Russian Top-Managers Wage Growth is One of the Most Rapid in Europe
Top managers, working for large Russian companies, earned 70 % more than their European colleagues last year.
7 Trillion Rubles Might be Invested into Oil and Gas Shelf Development
From 6 up to 7 trillion Rubles are planed to be invested into gas and oil deposits on shelf within the state program of developing Russian continental shelf till 2030. More than 1 trillion Rubles might be allotted from the federal budget.
Eurocopter Plans to Open its Production in Russia
Eurocopter, one of the largest helicopter producers in the world, plans to open its production in Russia. Eurocopter partners in assembly production may become one of the companies of former Minister of Communications and Information Technologies Leonid Reiman.
Russia to Build Tank Terminal Europoort West in the Netherlands
Russian group Summa has won a tender on building and exploitation of Tank Terminal Europoort West in the Dutch port Rotterdam.
Industrial Production Has Fallen Second Time for the Last Three Month
In September 2011 the industrial production in Russia including seasonal factors has reduced on 0.3% in comparison with August, and without seasonal factors on 0.8%, reports Federal State Statistics Service in its press release. By September 2010, the growth has made up 3.9%.
Russia May Reduce Palladium Export in 10 Times
Russia will have to reduce palladium supplies abroad in 10 times for the next two years. Then the export of the metal could stop at all.
Russian Producer of Mineral Fertilizers May Acquire Gas Assets
The company EuroChem, a Russian producer of mineral fertilizers, regards an opportunity of acquiring gas assets. The agreement with potential sellers could be reached within this month.
M&A Market in Russia is Biggest after the Crises
For the first three quarters of 2011 the total market size of merger and acquisition has made up $ 60 billion.
Largest Russian Beauty Producer to be Acquired by Unilever
Unilever PLC has agreed to acquire 82% Russian skincare company JSC Concern Kalina for about 16.7 billion (?390m), is reported in Unilever press release. Unilever has been preparing the deal for several years.
Mercedes-Benz Fashion Week Russia, October 21-25 2011
Mercedes-Benz Fashion Week Russia is to be held in Moscow on October, 21-25th at the Congress Hall of the World Trade Centre. Special guest - the supermodel Jessica Stam.
Russian Stock Exchanges to Work on New Years Holidays
From 2012 Russian stock exchanges will work during New Years holidays. The stock exchanges will be open from January 3 up to 6 and from 8 up to 10, unless these days are weekend.
Russia and China Created $ 4bln Investment Fund
Russian fund of direct investments (RFDI) and the worlds largest state investment company China Investment Corporation (CIC) has signed a contract on creation of joint fund of 4 billion dollars.
Russia to Collect 95 mln Tons of Grain
Russia is to collect more than 95 mln tons of grain. Earlier the Ministry of Agriculture forecast only 90 mln tons of the grain harvest in the current year.
PepsiCo Removed its Ads from TV in Russia
The company PepsiCo has refused from placing its advertisement on all Russian TV channels by the end of the year. The refusal may be connected with acquiring the company Wimm-Bill-Dan by PepsiCo in the beginning of 2011.
Customs Union Turnover to Exceed $100 bln in 2011
The total turnover of member countries of the Customs Union will exceed $100 bln this year.
Largest Submarines in the World to be Destroyed
The largest submarines in the world Dmitry Donskoy, Arkhangelsk and Severstal are to be written off and cut into metal. The further use of them is impossible because of restrictions, placed by START.
Hemp Production in Russia Would Have $ 3.4 bln Turnover a Year
The revival of hemp growing traditions in Russia would have 100 bln Rubles (about $ 3.4 bln) annual turnover and create 1 mln jobs.
Syrian Airlines to Buy Tupolev Air Jets
Russian companies Tupolev, the plant Aviastar-SP and Syrian airline Syrianair have signed a memorandum of intent on supplying Tu-204SM passenger jets.
Russian Largest Fertilizer Producer is to Buy Plants in France and Belgium
Russian agrochemical holding EuroChim, owned by Andrey Melnichenko, intends to acquire BASFs fertilizer assets located in Belgium and France.
Kremlin Hires: SuperJob Invites Applications for the Vacancy of the President
Now that the presidential campaign has all but started, and the Kremlin's seat is assumed to be vacant, SuperJob, Russia's leading job search portal, has opened a spoof vacancy - that of the President. A successful candidate's salary will start at 281500 RUR per month - 8,811.76 USD.
Italian Eni to Make Oil Business in Russia
Italian Eni, one of the major Gazprom partners in Europe, intends to start oil business in Russia. The company is negotiating with Rosneft about joining oil extraction project in Vale Shatskogo in the Black Sea.
Coca-Cola to Invest $ 3 bln into Russia
The American company Coca-Cola intends to invest $ 3 bln into the Russian economy for the nearest five years. According to the agency, Coca-Cola has already spent $ 3 bln for the all time of its presence in the Russian market.
MTS and Vimpelcom to build LTE Network Together
Russian mobile operators Mobile TeleSystems (MTS) and Vimpelcom (brand Beeline) have signed an agreement on joint building and using fourth generation nets (LTE).
Rusal May Build Aluminium Plant in Iran
Rusal considers the possibility of building an aluminium plant in Iran, which would make the 9% from its whole production, writes the newspaper Kommersant. The U.S. sanctions against Iran make some difficulties for the project realization.
Metro Group to Develop Small Shop Network in Russia
In 2011 German Metro Group, famous for its small-scale wholesale hypermarkets, is to open some food shops of 40-100 sq meters in Russia. Afterwards Metro plans to develop the new format on franchise.
Japan Whiskey Plans to Conquer Russian Market
Japan alcohol giant Suntory Holdings Ltd. plans to enter the Russian market independently by the end of the year. The largest producer of whisky in Asia is considering the possibility of buying assets in Russia and opening its own office in Moscow.
What's the Business about the Moscow Zoo?
One of the top Moscow recreation hot-spots, the Moscow Zoo, is advised by foreign experts to move places. The move, if approved, may see animals migrating to the Izmailovsky Park area in the east of Moscow.
Euroset May Give Up Managing Vertu Shops
Euroset, one of the largest mobile retailers, intends to give up its managing monobrend mobile elite phones Vertu shops.
HTC Starts Sales of First Windows Phone 7 Smartphone in Russia
Today HTC launches HTC Mozart in Russia, its the first smartphone on Windows Phone 7 OS. This was announced by the HTC and Microsoft officials at a press conference in Moscow yesterday.
BNP Paribas Vostok is Closing its Business Lines in Russia
Russian subsidiary of one of the largest European banks BNP Paribas, BNP Paribas Vostok, is closing all its business lines, except express crediting, before the deal with Sberbank.
Victoria's Secret Comes to Moscow
One of the world's largest retailers, Victoria's Secret, will open four lingerie stores in Russia's capital.
UEFA Champions League Logo Is Defended by Rospatent
The Russian Federal Service for Intellectual Property, Patents and Trademarks has upheld a complaint from the UEFA in the plagiarism dispute concerning the famous symbol of the Champions League - a soccer ball composed of stars.
Central Ural Took The Second Place In Trade Development In Russia
Region of Sverdlovsk received a prize in nomination " Region " at the anniversary annual business summit " Retail Business Russia 2011 ".
Russia Launches Major Gas Pipeline to Europe
On Tuesday Russian Prime Minister Vladimir Putin launched the Nord Stream pipeline, which was designed to bring Russian natural gas to Germany through the bed of the Baltic Sea, avoiding shipments via Ukraine.
Book Sales in Russia Go down by 10-15 Percent Every Year
Sales of books in Russia decrease every year by 10-15 percent. According to forecasts of publishers, in 2011 Russians will spend on them about 2 billion dollars, though just 3 years back the amount was almost one and a half time more.
World's Biggest Retailer Hires Lev Khasis as a Vice President
Wal-Mart Stores hires Lev Khasis, former head of food retailer X5 Group, as a senior vice president and chief leverage officer, a spokeswoman of the company said on Thursday.
Russian Internet Shop OZON Attracts Record Investments has attracted investments to the record amount of $100 million, the companys press-release reports.
Russia to Buy 2 More French Warships
Russia is going to sign a contract with France for the production of the third and fourth Mistral-class amphibious assault ships before the end of 2011.
Production Of Venison Meat Dumplings Has Started
An enterprise of Chukotka has started a production of meat dumplings with a very unusual filling - venison. The products were called " Anadirskie" and " Crazy".
Dmitry Medvedev Meets the Queen of Denmark In Moscow
The Queen of Denmark Margrete II has come to the capital of Russia for three days and is going to discuss trade, economic and investment issues with the President of the country.
Russia to Open Shtokman Field for Working in 2016
Russia plans to start producing gas at the giant Shtokman offshore field in the Arctic from the fourth quarter of 2016, according to Prime Minister Vladimir Putin.
364 bln Rubles to be Invested in Russian Roads Next Year
About 364 bln Rubles (about $12.2 mln) will be allotted from federal budget for building, capital repair and maintenance of automobile roads in 2012. About 309 bln Rubles is planned to be spend on the same purposes in 2011.
One Third of Brand Goods in Russia is Fake
The share of fake famous brand clothes in Russia has made up 37 % of total turnover, informs the Department of Economic Security of the Ministry of Internal Affairs based on the results of operation Counterfeiting held this spring.
Payment System QIWI Starts Working in Latvia
Payment system QIWI came in the Latvian market from September 2011. Riga residents will be the first to try Qiwi terminals. 125 Qiwi terminals will be installed there by the end of the month
70 mln Rubles to be Allotted for Improving Business Image of Russia
The Ministry of Economic Development and Trade has allotted 70 mln Rubles for strengthening positive attitude of the world business community towards Russia and creating an Internet site devoted to the International Financial Center.
Belarus Does Not Refuse $2 Bln Sberbank Loan for JSC Belaruskaliy
The Belarus authorities do not refuse obtaining a $2 bln loan from Sberbank and Deutsche Bank for the state company Belaruskaliy.
Yekaterinburg Citizens Take Out Mortgages to Buy Suburban Property
The property analysts from Yekaterinburg and Sverdlovsk Region have noted a significant spike in mortgages taken out to buy property outside Yekaterinburg city centre. For many, this is a chance to get on the property ladder.
A Former USSR Republic Is Fourth on the List of Cheapest Countries for Petrol
If you live in Britain or Norway, there is now one more reason to consider a move closer to Russia. In Turkmenistan, a former USSR republic and one of the CIS countries petrol costs only 12p per litre - compared to staggering 135p in Britain and 164p in Oslo.
North Korea and Russia to Cooperate in the Gas Field
Launching collaboration in the gas field between Moscow and Pyongyang has become the main result of Kim Jong-Il s visit to Russia.
VimpelCom Ltd to Sponsor Manchester United
One of the major mobile phone service providers in Russia, VimpelCom Ltd has signed a 3-year sponsorship deal with Manchester United. The company will be able to use Manchester United players' photos and brand images in its advertising in Cambodia, Laos, and Vietnam.
Russians to Get Paid on E-Bay through PayPal
Internet payment company PayPal has let to transfer money to the Russian accounts from abroad. This will allow Russians to trade and get paid on e-Bay auction.
MAKS 2011 Closed with $10 billion Contracts Signed
Over $10 billion contracts were signed on International Aviation and Space salon MAKS 2011. It is a record sum in comparison with previous years.
Arkhangelskoye Estate May be Sold Out
The famous Arkhangelskoye estate may be sold out. The land, which used to be owned by the Ministry of Defense and then given to the museum on the Right of the Perpetual Use in mid 90es, is put out to tender. Now the Russias historic heritage may become a private property.
India is Interested in Russian Sukhoi Business Jet
Sukhoi Civil Aircraft has signed an agreement on intention on supplying 10 Sukhoi Business Jet in VIP configuration with an Indian leasing company Aviotech at International Aviation and Space salon MAKS 2011.
Venezuela Might Move a Part of its Monetary Reserves into Russia
Venezuela plans to transfer billions of dollars in cash reserves from European and U.S. banks to banks in Russia, China and Brazil.
AvtoVAZ Announced 2 Billion Rubles Net Profit in the First Half Year
AvtoVAZ posted a 2 billion ruble ($70 million) net profit to Russian Accounting Standards in the first half of 2011, after a 724 million ruble loss in the same period last year.
Russian Stock Market Fell
Russia's RTS stock index dropped 7.8% to 1,657.77 as falling oil prices hit the heavily represented energy sector. MICEX index sank 5.5% today to 1499,8.
Enquiry: Why Cell Operators Charge More for Cyrillic SMS Messages?
The Federal Antimonopoly Agency of Russia is to conduct an enquiry into mobile network charges of Russian operators, following claims that their cost depends on the choice of an alphabet.
Two Protest Actions Against the Petrol Price Surge in Moscow
Yesterday in Moscow there were two protest actions against the petrol's price surge.
Russian LiveJournal Bloggers Are Again Disconnected
Yet again the Russian LiveJournal has been under an avalanche of D-DOS attacks. The service is still unavailable for some users.
Berezovsky Agrees to Pay the Largest Divorce Sum
Self-exiled businessman Boris Berezovsky has agreed to Britain's biggest divorce settlement to date, his second wife's lawyer said on Friday.
Alexander Lebedev Files a Defamation Lawsuit for 30mln Rubles
The Russian businessman Alexander Lebedev wants the newspaper to disprove the scandalous article and pay him compensation for moral damage.
The FIFA World Cup Will Cost Russia a Fortune
The cost of holding the 2018 FIFA World Cup Championship is estimated at 632bln RUB - almost 4 times more than the initial forecast predicted.
Dry Law in Russian: Beer Equals Vodka - It's Alcohol
Sad news for those who appreciate a good pint of lager: beer is now officially an alcoholic drink in Russia. It cannot be consumed in the street and can only be sold in small shops and supermarkets.
Alexander Lebedev: "I Would Rebrand The News of the World"
Alexander Lebedev, the Russian billionaire businessman who owns The Independent and London Evening Standard, indicated that he would rescue The News of the World - to make it a serious asset to the world of investigative journalism.
Russian McDonald's Earns Much More than Gourmet Restaurants
Russian subsidiary of American McDonald's earned more than 37 billion rubles in 2010. Their net profit amounted to 4,46 billion rubles.
The Head of General Electric to Join the Board of Directors of RAO UES
Russian state-controlled power exporter is going to appoint Jeffrey Immelt, General Electric Co. Chief Executive, to its board.
Sberbank to Build a Technology Park in Skolkovo
Russia's largest bank Sberbank plans to invest 800 million dollars in a technology park creation in Skolkovo, an innovation center near Moscow.
Russia to Increase Oil Production in 2011
In 2011 Russia will produce about 510 million tons of oil and break the record of the last year.
Russia Allowed the Import of Vegetables from Six Countries of EU
Russian Federal service on customers' rights protection and human well-being surveillance has lifted a ban on vegetable imports from Greece and Czech Republic.
Rusnano to Invest in Kamaz
The joint-stock company Russian Nanotechnologies Corporation (Rusnano) is going to invest 300 million dollars in the modernization of metallurgical plant Kamaz, Russian largest truck manufacturer.
India and Russia to Explore Nanotech Business Opportunities
Russia and India are sharing a relationship and may explore business opportunities in fields like biotechnology and nanotechnology, according to Ajai Malhotra, Indian Ambassador to Russia.
Russian to Ban Seeds Import from Egypt
After the EU imposed a ban on the import of seeds from Egypt, which led to an outbreak of acute intestinal infections in Europe, Russia's sanitary watchdog Rospotrebnadzor also banned seeds and sprouts import from this country.
Abrau-Durso's Owner Bought the Vineyards of "Putin's Palace"
Abrau Durso company, Russia's largest producer of sparkling wines, owned by Boris Titov, buys vineyards and a winery in Gelendzhik from Russian businessman Alexander Ponomarenko.
Volga is Gone
The Volga brand, owned by the Gorky Automobile Plant, will be no more. The GAZ company decided to get rid of it.
300 000 Lada Cars Sold
In the first six month of this year the Volga Automobile plant sold about 300 000 Lada cars in Russia.
Russia to Develop the Largest Coal Deposits in Mongolia
A consortium of companies, headed by Russia, became one ot the preliminary winners to develop Mongolia's largest coal field Tavan-Tolgoi.
Rosneft Cheats
A former employee of Rosneft Vladimir Tyurin has recorded a video message to Russian President, in which he talks about cheating at petrol stations in Russia.
Campbell's Leaves Russia
American producer of canned soups Campbell Soup Company, closes its Russian branch.
A Farewell to Russia
Two more foreign banks will withdraw from Russia. Subsidiaries of American GE Money Bank and Swedish Handelsbanken are going to leave the country.
Gazprom and Severslat Entered the List of Most Expensive Companies
Russian Gazprom and Severstal entered the annual ranking of world's largest companies of the FT Global 500.
Aeroflot to be Privatized
Russian airline Aeroflot may enter a program of privatization of the Russia government. According to Alexei Kudrin, Finance Minister, Aeroflot may be privatized in the next 3-5 years.
India byus Russian Helicopters
Russia is planning to implement a pre-contract to supply India with 80 Mi-17 helicopters in early 2012.
Russia's Largest Oil Companies Stop Selling Gasoline
Russia's largest oil companies, including Rosneft, Gazprom and Lukoil, temporarily stopped selling gasoline in the St. Petersburg's International Commodity Exchange.
Gazprom's Subsidiaries to Merge
Shareholders of Gazprom subsidiary companies OGK-2 and OGK-6 voted for the amalgamation of the companies. As a result, a third-largest company of Russia's electricity market will be created.
One more IPO is Planned
O1 Properties, Russian investment and development company, owned by Boris Mints, plans an IPO in autumn, 2011.
Luxemburg to Seiz Lisin's Assets
The Palace of Justice of Luxemburg has arrested Russian steelmaker NLMK's share in a joint venture with Duferco trader, owned by Luxembourg company Steel Invest & Finance.
Diamond Monopoly Privatization
Russia is going to sell 10% stake in Alrosa, Russia's largest diamond company by 2012-2013.
Talgo Enters Russian Market
Russian Railways state-owned company has signed an agreement with Spanish Talgo for the development and purchase of seven Talgo trains.
Siemens to Supply Russia with 8 more Trains
The Russian Railways (RZhD), government owned national rail carrier, expects to sign a contract with Siemens for the supply of eight Sapsan trains.
The Economic Forum Starts Today
An International Economic Forum starts today in St. Petersburg.
Russia Banned Imports from 14 Countries due to Intestinal Infection
Russian Federal Service for Veterinary and Phytosanitary Surveillance temporary banned import of agricultural products from 14 countries in connection with an intestinal infection, spreading in the EU.
Wendy's Enters Russian Market
Wendy's, an international fast food chain, based in the U.S., opened its first restaurant in Moscow.
Solovki's New Project
Russia plans to develop tourism in Solovki, it is planned to restore the Solovetsky monastery and to create tourism infrastructure outside of the archipelago. The amount of investments may reach ten billion rubles.
Ford and Sollars to Create a Joint Venture
Russian second-biggest automaker Sollers and Ford Motor signed an agreement to establish a joint venture and car producing in Russia.
The EU to Invest a Billion Euros in Russia's Modernization
European and Russian banks will allocate 2 billion dollars for the program "The partnership and modernization".
National Hotel to be Sold
Moscow authorities are going to sell the most famous and glamorous National hotel in Teatralnaya Ploshchad.
Muscovites Work Less
The research of the State Committee for Statistics (Rosstat) has disproved the classic stereotypes of Moscow as a city where life never stops. People in Moscow do not work tirelessly.
Russia to Invest 100 Billion Rubles in a New Black Sea Port
It is planned to build a new port on the Black Sea. Russia will invest $3,6 billion in the project.
Renault and Nissan to Invest 2 Billion Dollars in AvtoVAZ
The Nissan-Renault alliance is planning to invest in Russia's largest automaker Avtovaz up to 2 billion dollars.
Russia Ranks among Top Five Countries by the Number of Super-Rich Families
Russia entered top five countries by the largest number of super-rich families, whose income exceeds 100 million dollars.
Manufacturing of Ford Focus 3 in Russia will start in July
Ford Motor Company expects to start making the new generation of Ford Focus cars at the plant in Vsevolzhsk in Leningrad region in July.
Russia to Invest in Mongolia
Russian rail monopoly Russian Railways is going to invest $1,5 billion in Mongolia's rail infrastructure to help the country develop its coal resources.
Crystal Owner Gets Rid of the Alcohol Business
Vasily Anisimov, Russian billionaire, is going to withdraw from the alcohol business.
Nissan's Plant in St. Peterburg to be Suspended for 5 Days
Japanese carmaker Nissan's plant in St. Petersburg will suspend operations from May, 30 to June, 3, due to some problems with engine deliveries from Japan.
Yandex's Employees Became Millionaires
Selling shares of Russian Yandex on Nasdaq has allowed comany's employees to earn an average of two million dollars.
France to Develop Ski Resorts in North Caucasus
Russian state-owned company Resorts of the North Caucasus and French bank Caisse des Depots et Consignations will create a joint venture to develop tourism in the region.
Gazprom-owned NIS to Drill in Romania
NIS, a subsidary of Russia's Gazprom, will start a 12-well exploratory drilling program in Romania.
Outlet Village Belaya Dacha to Appear in November
Russia's first outlet store Outlet Village Belaya Dacha will be opened in November, 2011. The outlet mall will be located in Kotelniki, Moscow region.
Siemens and Hyundai to Construct Moscow Subway
German's Siemens and Korea's Hyundai offered the government of Moscow to develop some areas of capital's subway.
Rosneft to Deal with Japan
Rosneft, Russian state oil company, is going to create a joint venture with Japan to fund oil exploration in Siberia.
Yandex to Complete the IPO
Russia's largest Internet search engine Yandex plans to raise 1,3 billion dollars in the IPO.

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