Finance, Tax & Accounting

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• January 19, 2012 by Russia Briefing
  

  Newly Formed Lobby Group to Develop Russian e-Payment Legislation

  Jan. 19 – A lobby group named the National Payment Council has been established by Visa and MasterCard, together with Russian payment services provider Zolotaya Korona, on Wednesday. The main reason for the decision of the payment systems to create a lobby is the tightening of the domestic card market regulation by implementation of “The[…..]
• January 18, 2012 by Russia Briefing
  

  Russian Private Equity Market Grows in 2011

  Jan. 18 – Russia saw 15 new private equity funds established last year, but very few newly established and existing funds succeeded in attracting institutional investors, Financial Consulting Group (FCG) says in its report “Private Equity Market in 2011.” The non-food retail sector – clothing retail, children’s clothing and toys, household appliances, and media retail[…..]
• January 16, 2012 by Russia Briefing
  

  Investors Come Back to Russia

  Jan. 16 – Russia-focused equity funds attracted US$43 million of inflows in the week to January, 11, equaling about 0.4 percent of the total amount under management, UralSib Financial Corp. said in a report, citing EPFR Global Data. “This is the first week of positive flows in the last eight,” UralSib analyst Slava Smolyaninov said[…..]
• December 27, 2011 by Russia Briefing
  

  Social Networking in Russia’s Top 100 Banking Sector in 2011

  Russian banks explode onto social networks: popularity has increased by over 50 times the rate since last year Dec. 27 – According to expert research published on December 21, the combined popularity of bank resources in Russia’s social networks (official Facebook pages, Twitter accounts, etc. ) has increased by over 50 times since last year.[…..]
• December 22, 2011 by Russia Briefing
  

  Merged MICEX-RTS Starts Trading

  Dec. 22 – MICEX and RTS, Russia’s two main stock exchanges, started trading on a unified platform with an estimated value of US$4.5 billion in new company assets this Monday. The merger marks the end of competition between the two bourses, allowing them to focus on attracting domestic investors, many of which have been seeking[…..]
• December 15, 2011 by Russia Briefing
  

  Russia Ranks 39th in 2011 Financial Development Index

  Dec. 15 – Russia ranks in 39th out of 60 countries in the 2011 World Economic Forum’s Financial Development Index, according to a report published on Tuesday. However, many experts disagree that Moscow is becoming more of a financial hub. The Financial Development Index, launched in 2008, is based on efficiency and size of banking[…..]
• December 2, 2011 by Russia Briefing
  

  Report: Russia Claims Highest Economic Crime Rate

  Dec. 2 – Russia has the world’s highest economic crime rate, according to a newly released survey by PricewaterhouseCoopers and The London Business School. The survey shows that the misappropriation of assets remains the most common economic crime (72 percent) with a US$5 million loss reported by 22 percent of the businesses who had encountered[…..]
• November 24, 2011 by Russia Briefing
  

  New Issue of Russia Briefing: The Russia-Belarus-Kazakhstan Customs Union

  Nov. 24 –The new issue of Russia Briefing Magazine, titled The Russia-Belarus-Kazakhstan Customs Union, is out now. Nearly two years have elapsed since Russia, Kazakhstan and Belarus boldly began to link their economies by forming a Customs Union planned to evolve into a more ambitious common market by 2012, with Russia as its hub. While[…..]
• November 21, 2011 by Russia Briefing
  

  Russia’s Schools and Clinics to be Free from Profit Tax

  Nov. 21 – Russia’s Cabinet has finally approved a list of educational and medical services that are no longer subject to pay profit tax. Authorities believe the move will attract investment and inspire entrepreneurs to set up new schools and hospitals, but the market is predicting only modest results. The law on zero taxes for[…..]
• November 18, 2011 by Russia Briefing
  

  Pros and Cons of Russia’s WTO Membership

  Nov. 18 – After roughly 18 years of membership talks, Russia finally looks set to enter the World Trade Organization on favorable conditions, both Russian and international analysts say noting the minor import tariff cuts. The final barrier keeping Russia from the global trade club fell when Russia and Georgia signed an agreement approving Russia’s[…..]