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    Russian Government Wants to Simplify Construction Legislation

    May 21 – The Russian government wants to implement the same measures used for the construction of Olympic-related facilities in the city of Sochi, host of the XXII Winter Olympic Games in 2014, for the country’s entire building industry. According to Russian Vice Prime Minister Dmitry Kozak, a simplification of the construction legislation will attract[…..]

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    Yandex Launches International Search Engine

    May 20 – Russia’s biggest internet firm, Yandex, is set to launch an international version of its search engine at yandex.com, company official Ochir Mandgikov publicized yesterday. Yandex declared in an earlier announcement that its search engine has indexed over four billion unique web pages in foreign languages during the past two years, of which[…..]

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    Russia’s Capital Outflow Hits US$203 Million

    May 18 – After three months of unbroken inflow, investors have started taking out capital from Russia and CIS country-oriented funds. According to fund tracker EPFR Global, capital outflow has reached US$203 million in the region, compared to losses of US$332 million in China, US$247 million in Brazil, US$189 million in India, and US$351 million[…..]

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    State Plans Could Cripple Vladivostok’s Outdoor Advertising Revenue

    May 14 – The State Duma might halve Vladivostok’s outdoor advertising market to give the city a face lift ahead of the 24th Asia-Pacific Economic Cooperation (APEC) Summit, to be held in the city in 2012. The bill, which can grant Vladivostok administration rights to forbid outdoor advertising in certain parts of the city, was[…..]

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    Russia Gold Producer Polimetall Rakes in First Profit in Three Years

    May 11 – Leading Russian gold and silver producer Polimetall has registered profits for the first time in three years, announcing a US$96 million net income in 2009. The company’s growth has been brought around by favorable gold prices. According the company’s press release, the company made US$96 million net income in 2009 compared to[…..]

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    Novosibirsk Mortgage Credit on a ‘Post-Crisis’ Mend

    May 10 – Long term commercial mortgage credit issuing grew two times faster on average in the Novosibirsk region than in the rest Russian Federation, reports the Central Bank. Over 40,400 commercial mortgages were issued in Russia between January and March 2010 amounting to a sum total of 48.95 billion rubles. Compared with the same[…..]

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    Twitter Attracts Russian Government Agencies

    May 5 – The Federal Financial Markets Service (FFMS) has started publishing its news on the microblogging service Twitter. “We registered an FFMS account and the first news about Instruction of Derivative Financial Tools has been published,” said FFMS chief Vladimir Milovidov yesterday. The Federal Financial Markets Service is the second Twitter-established Russian government service[…..]

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    Russia’s Economic Recovery Prompts Salary Renewal and New Jobs

    Apr. 28 – St. Petersburg’s private sector is showing some signs of recovery from the Global Economic Crisis. Companies have gradually started to renew revision of salaries with the average increase estimated at 10 percent, reports the Vedomosti newspaper. This month a British-American tobacco giant in St. Petersburg factory raised the salaries of 95 percent[…..]

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    Russia Returns to the International Bond Market

    Apr. 27 – After eight days spent on a road show in Asia, Europe and the United States, Russia has returned to the international bond market when it placed two tranches of sovereign Eurobonds of US$5.5 billion, from an expected 7 billion. It sold US$2 billion in five year bonds with 3.74 percent and US$3.5[…..]

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    Russian Firms Race Ahead to Raise IPOs

    Apr. 21 – Four firms from Russia and Ukraine pressed ahead with share offerings to raise up to US$2 billion, with two lowering valuations following weak demand for a placement last week and a fall in share prices on Monday, Reuters reports. Dozens of Russian companies plan initial public offerings this year, seeking to replenish[…..]

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