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    Chinese Companies Look to Fund Russian Mining Railroad

    May 31 – China Railway Materials Commercial Corp. and SUYU Railroad Material Co. could get involved in funding a railroad branch line to be constructed to the Ozernoye mining site in the Buryat Republic of Russia. Conditions of the financing agreement state that the owner of the deposit IFC Metropol will buy construction equipment, railroad[…..]

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    Foreign Investment in St. Petersburg Reaches Record High

    May 27 – Foreign investments contributing to the St. Petersburg economy reached US$1.35 billion within the first three months of this year, a figure nearly double that seen over the same period last year. According to data from the city statistic office Petrostat, 88 percent of foreign investments were on bank credits, the volume which[…..]

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    China Huandian Power Sign Joint Venture Deal with Russia’s TGK-2

    May 26 – Chinese Huadian Power International Corporation Ltd. (HPIC) will finally have a share of the Russian power market after a long bidding process. The company has entered a joint venture with Russian regional power generator TGK-2 for a thermal electric power plant project in Yaroslavl. Russia’s TGK-2, controlled by energy firm Sintez Group[…..]

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    Microcredits could Aid Russia’s Economic Recovery

    May 25 – The development of microfinancing credit opportunities could help the Russian economy recover from the recent economic downturn, stated members of the Association of Russian Banks during the first edition of the State Duma’s approval of the microfinancing bill, reports RosBusinessConsulting. According to data from the National Institute for System Studies of Entrepreneurship[…..]

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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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