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    VTB to Accept Deposits in Chinese Yuan

    Oct. 13 – VTB 24, the retail-lending arm of the state-run VTB Bank, begins accepting Chinese yuan deposits starting this week, President and Chairman Andrei Kostin stated in a speech during the VTB Capital Investment Forum in Moscow. “For all those who’d like to open accounts not only in rubles, dollars and euros, but also[…..]

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    Georgia to Block Russia’s Accession to WTO

    Oct. 10 – Russia and Georgia’s two day talks on Moscow’s bid to join the World Trade Organization (WTO) ended without agreement on Saturday, despite U.S. support for Russia’s accession. Georgia said it would block Moscow’s attempts to join the WTO unless Russia’s position changed. “The negotiations are over and we can say that they[…..]

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    Capital Outflows from Russia Far Outweigh Expected Figures

    Oct. 7 – The ruble dropped to its weakest close against the dollar in more than two years on Wednesday, while the outflows of capital from Russia reached an estimated US$18.7 billion in the third quarter, bringing this year’s total to US$49.3 billion, the Central Bank said. Yesterday, the ruble was slightly strengthened to 32.56[…..]

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    Putin to Seek Higher Integration with ex-Soviet States

    Oct. 6 – Russian Prime Minister Vladimir Putin has proposed an alliance between Russia and other ex-Soviet nations, saying the bloc could become “one of the poles of the modern world” competing for influence with the United States, the European Union and Asia. In in an article which outlined his first foreign policy initiative as[…..]

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    China Less Reliant on Arms and Energy Cooperation with Russia

    Oct. 5 – Russia’s significance to China will continue to diminish according to a report released on Monday by the Stockholm International Peace Research Institute (SIPRI). The report illuminates the current status of and likely prospects for China–Russia relations. “Russia is unwilling to provide China with advanced weapons and technology primarily because it is concerned[…..]

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    Russia to Review its Gas Contract with Ukraine

    Sept. 28 – Russia has agreed to review its gas contract with Ukraine, Ukrainian Prime Minister Mykola Azarov said Monday. “We have finally managed to reach an agreement with Russia on reviewing the contract,” Azarov said at a meeting with a delegation of the Council of Europe’s parliamentary assembly. Ukraine has been pressing Russia for[…..]

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    Putin to Seek Another 12 Years in Kremlin

    Sept. 27 – Prime Minister Vladimir Putin said on Saturday he would like to reclaim the Russian presidency next year in a move that could keep him at the helm of the country until 2024. Russia will hold presidential elections in March of 2012. Last Saturday, at a carefully-choreographed congress of ruling Edinaya Rossiya (United[…..]

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    German SAP to Invest in Russian and CIS Markets

    Sept. 23 – German software developer SAP AG, one of the world’s leading vendors of business management solutions, intends to invest a total of 1 billion euros (US$1.3 billion) in its business in Russia and other CIS countries by 2015, business daily Vedomosti reported, citing President of SAP EMEA Franck Cohen. The German global software[…..]

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    IMF Recommends Russia Undertake Economic Reforms

    Sept. 22 – Russia must make fundamental changes to its fiscal and monetary policy in the next few years to reach stable economic growth and reduce the country’s vulnerability to external shocks, the International Monetary Fund said Wednesday. Under the current economic scenario, Russia will remain vulnerable to shocks, with GDP showing modest growth of[…..]

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    Russia to Attract More Foreign Investment

    Sept. 20 – Foreign investors are optimistic about Russia’s future attractiveness, according to Ernst & Young’s first Russia Attractiveness Survey published on the company’s web site. A total of 75 percent of international business leaders interviewed by Ernst & Young said Russia had an attractive domestic market, with about one-third of them calling it “very[…..]

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