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    Electronic Document Interchange Implementation Best Practices for Russian Companies

    By Ulf Schneider With the introduction of electronic document interchange (EDI) gaining momentum, there are a number of ‘best practices’ in the implementation process that can be shared. Such ‘best practices’ may prove to be helpful to both first-time implementers as well as to the more experienced ones. Executive sponsorship To be a success, it[…..]

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    Technical Adaptation and Process Implementation for Electronic Document Interchange in Russia

    By Alexey Kozlov In Russia, like everywhere, there is legislation regarding the maintenance of accounting documents. Usually it requires tedious work which takes a lot time for the preparation, signing and posting of such documents. For example if Company A sells goods or services to Company B, an accountant from Company A should do the[…..]

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    Five Reasons for Electronic Document Interchange Implementation

    By Ulf Schneider So, are you wondering whether to convert to electronic document interchange (EDI)? Here are five reasons why you should give it some serious thought. Decreased expense for primary documents processing EDI eliminates a number of tasks, including processing documents, envelopes, sorting out documents, manually entering data into the accounting system and archiving[…..]

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    A Special Tax Regime for Russia’s Far East and Siberia

    Sept. 24 – The Kremlin may consider a special tax regime for economic partners in the Far East and Siberia. The idea to bestow tax rebates on businesses across the region follows the Asia-Pacific Economic Cooperation forum, hosted by Russia in Vladivostok earlier this month. Both President Vladimir Putin and Prime Minister Dmitry Medvedev have[…..]

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    Russia to Sell 7.6 Percent Stake in Sberbank

    Sept. 19 – Russia unveiled a US$5.4 billion auction of a minority stake in its largest lender Sberbank on Monday. The sale of a 7.6 percent stake in Europe’s third biggest lender was priced at 93 rubles (US$3.04) per share, the Russian central bank said late on Tuesday. That was in the middle of a[…..]

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    VTB Capital to Cooperate with Brazilian BTG Pactual

    Jun. 29 – Russian investment bank VTB Capital and Brazilian peer BTG Pactual have signed a cooperation agreement to explore opportunities between Russia and Latin America, the two banks said in a joint statement released last week. VTB Capital and BTG Pactual have unveiled a strategic alliance to partner in several areas including investment banking,[…..]

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    Russian Ruble Drops to Three-Year Low

    Jun. 5 – The Russian ruble recently sunk to 33.48 rubles against the U.S. dollar – its lowest level since April 2009. The ruble has been declining for seven days and lost some 3.5 percent during the last week as oil prices went down. The Russian economy is strongly dependent on oil exports, but oil[…..]

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    Sberbank May Sell 7.6 Percent Stake in September

    May 31 – The timeline for selling off a 7.6 percent stake in OAO Sberbank, Eastern Europe’s largest lender, may be approved at a Cabinet meeting scheduled for May 31, a person familiar with the matter told reporters. State-controlled Sberbank, with over 11 trillion rubles (US$340 billion) in assets, is hopeful a stake sale in[…..]

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    Capital Outflow from Russia Reached US$8 billion in April

    May 21 – Net capital flight from Russia in April came to around US$8 billion and the country will also likely record capital outflows in May, Interfax news agency quoted Deputy Economy Minister Andrei Klepach as saying on Monday. Capital outflow will probably continue in May, Klepach said at a State Duma budget committee meeting.[…..]

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    First-Ever Business Angel Week Held in Russia

    May 7 – Investors from all over the world came to the first-ever business angel week in Russia, which started in Moscow but is continuing for a week across 25 regions. Business angels are investors who not only finance entrepreneurial projects at an early stage and readily risk their own money, but they also support[…..]

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