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    Kuril Islands to Remain Russian with Chinese and South Korean Support

    May 18 – Living standards on the Kuril Islands of Russia’s Far East are extremely low, Deputy Prime Minister Sergei Ivanov reported as saying after his controversial visit to an island chain which is at the center of a territorial dispute between Russia and Japan. Analysts say that the socio-economic situation on the Kuril Islands[…..]

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    Russian Companies Continue to Expand Abroad

    May 17 – Russia’s third biggest mobile phone company VimpelCom has agreed to a US$420 million deal to buy New Telephone Company (NTC) from South Korea’s KT Corp and Summit Telecom Global Management, Sumitomo Corporation’s subsidiary. VimpelCom said it planned to close the 90 percent acquisition within four weeks. After the acquisition, the company is[…..]

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    Russia Has No Money for Minsk

    May 16 – Moscow is not planning to lend Minsk money, Russia’s Finance Minister Alexei Kudrin has been reported as saying. He also advises Belarus to turn to the International Monetary Fund instead, while the IMF in turn urged Minsk to speed through reforms to overcome a currency crisis. “We’re considering a US$1 billion loan[…..]

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    More Russian Cases to Be Arbitrated Outside Russia

    May 12 – More than half of all cases in the British High Court commercial division are related to Russia or other CIS countries, media reports citing leading law firm employees as saying. Since January 2011, 17 cases involving Russia and the CIS were filed with the London Court of International Arbitration. In 2000, that[…..]

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    China to Become Key Driver of Russia’s Aluminum Industry

    May 5 – China is set to become the key driver for the development of Russia’s aluminum industry this year, the market analysis published by the Prime TASS says. Chinese demand for aluminum is likely to double within 10 years, as car manufacturing, as well as aircraft production and other industries, is likely to gradually[…..]

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    Russia Increases Export Duties to Keep Gasoline at Home

    May 3 – The Russian government has increased the gasoline export duty by around 44 percent starting from May to curb exports and fight a fuel shortage at home as companies preferred to sell gasoline overseas due to capped domestic prices. The tariff, tied to international prices for gasoline, will stand at US$408.3 per ton[…..]

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    Gasprom, Japanese Companies to Build LNG Plant near Vladivostok

    Apr. 28 – State-run gas Gazprom and a consortium of Japanese companies led by Itochu Corp. have agreed to study building a liquefied natural gas (LNG) plant and a gas chemical complex in Russia’s Far East city of Vladivostok, as Japan seeks to boost fuel supplies after its worst nuclear accident. The companies will carry[…..]

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    Russia’s Largest Copper Deposit to Start Excavation Work

    Apr. 27 – After decades at a standstill, engineers and geologists of LLC Baikal Mining Company started excavations in Russia’s largest copper deposit of Transbaikalia Region (Zabaikalsky krai) in East Siberia and hope the project will secure the region’s prosperity in the future. Russia’s mining and steel company Metalloinvest, together with state-run Rostekhnologii, will carry[…..]

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    Internet Access Costs to Decline in Russia

    Apr. 26 – The cost for yearly Internet access in Russia has fallen between 30 percent and 60 percent, according to a survey from the country’s leading Internet firm Yandex. The Ural Federal District saw the lowest prices at around US$5.7 per 1 Mbit/s, while the most expensive access area for a network has been[…..]

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    New Issue of Russia Briefing: Russian Market Entry

    Apr. 22 – The new issue of Russia Briefing, titled Russian Market Entry – the Business Outlook and Your Options, is now available on the Asia Briefing Bookstore, offering investors and businesses interested in Russia an overview of the different market entry structures and what option may best suit your business needs. The Western media[…..]

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