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• September 23, 2010 by Russia Briefing
  

  Rosneft and CNPC to Build US$5 Billion Oil Refinery in Tianjin City

  Sept. 23 – OAO Rosneft, Russia’s largest oil producer, and China National Petroleum Corp. will invest around US$5 billion in a joint oil refinery in the Chinese port city of Tianjin. Russia’s Deputy Prime Minister Igor Sechin, who is also Rosneft’s board chairman, joined Chinese Vice Premier Wang Qishan in the future refinery town of[…..]
• September 20, 2010 by Russia Briefing
  

  Turkey’s Atlasjet to Enter Russian Aviation Market

  Sept. 20 – Istanbul-based Atlasjet, an unlisted discount Turkish airline, said it was investing US$110 million to form an airport and airline venture together with the Omsk regional authorities and NPO Mostovik, a Russian builder. Flights will start in May 2011 and the Omsk-Fedorovka International Airport is set to be open in 2013, Atlasjet said[…..]
• September 17, 2010 by Russia Briefing
  

  Government Plans US$50 Billion Asset Sale

  Sept. 17 – The Russian cabinet has expanded the list of state assets to go private. The government plans to earn US$50 billion from privatization sales over the next five years and will overrule objections from state managers over the sale of their firms, Finance Minister Alexei Kudrin said to Reuters on Wednesday. “We will[…..]
• September 16, 2010 by Russia Briefing
  

  X5 Retail Group to Refinance with New International Group Loan

  Sept. 16 – X5 Retail Group N.V., Russia’s largest retailer in terms of sales, announced it has signed a new US$800 million group loan to refinance its existing US$1.1 billion syndicate facility; due to mature by the end of the year. The remaining US$300 million will be refinanced through other existing facilities, including the forward[…..]
• September 14, 2010 by Russia Briefing
  

  Russia to Establish National Accreditation System under EU Standard

  Sept. 14 – The uniform national accreditation system proposed by Russia’s Ministry of Economic Development and Trade (MERD) was approved by the cabinet last week, the Kommersant reports. During the cabinet meeting, Prime Minister Vladimir Putin noted that the new system will allow Russia to generate a network of independent test centers “with flawless professional[…..]
• September 13, 2010 by Russia Briefing
  

  State’s Role in Russian Economy Reaches ‘Critical Limit’

  Sept. 13 – Deputy Prime Minister Sergei Sobyanin has said the state’s role in the Russian economy has reached a “critical limit” and should not increase. “The size of the state’s stake in the economy has reached a critical limit, which would be dangerous to exceed. Every second employee occupied in the economy works in[…..]
• September 9, 2010 by Russia Briefing
  

  Russia’s Yandex to Start Online Bank Services Search

  Sept. 9 – Yandex, Russia’s most used search engine, started offering a bank services search yesterday. The new service allows internet users to find the most comprehensive banks, Russian daily Vedomosti reports. “The service allows users to find deposits with the greatest interest rates, as well as consumer loans and mortgages with optimum conditions for[…..]
• September 8, 2010 by Russia Briefing
  

  Canada’s Kinross to Buy Gold and Silver Deposits in Chukotka

  Sept. 8 – Canada’s Kinross Gold Corporation has purchased one of Russia’s largest gold and silver ore deposits in the Chukotka region of the Russian Far East, company press release stated. Kinross plans to process ore from the Dvoinoye deposit at the existing Kupol mill, pursuant to an ore purchase agreement with Kinross’ 75 percent[…..]
• September 6, 2010 by Russia Briefing
  

  US$1,650 Required to Start Small Business in Russia

  Sept. 6 – The average salary of a Russian citizen is around US$500 per month, the Russian Public Opinion Research Center (VCIOM) has tallied. A third of the residents surveyed made an average monthly income of around US$200 to US$330 per family member, while 21 percent earned US$330 to US$650, and only 8 percent of[…..]
• September 3, 2010 by Russia Briefing
  

  Coca-Cola Announces Acquisition of Russia’s Nidan Soki

  Sept. 3 – The Coca-Cola Company said yesterday it has purchased one of Russia’s biggest juice-makers, Nidan Soki, as part of its plans to expand in the fast-growing market. The world’s largest soft-drink maker bought a 75 percent stake in Nidan from London-based private-equity company Lion Capital, with the remaining 25 percent held by Nidan’s[…..]