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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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    Russian Developers Given VAT Exemptions on Shared-Equity Construction

    May 19 – The Russian State Duma is exempting all developers operating under the law regulating shared-equity construction from value-added tax. All housing deals using private capital and creating property rights will now be made under shared equity law. Although deputies believe that the VAT exemption opportunity will motivate developers to operate under the law,[…..]

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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 to Issue New Property Tax Laws for 2013

    May 13 – Current land and real estate tax might be replaced by new property tax laws in 2013 after the next presidential election in Russia. According to Vedomosti, the new tax laws should become a basis for filling local budgets. The Ministry for Economic Development and Trade and the Ministry of Finance said the[…..]

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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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    Japan Seeks to Reinstate Timber Export Levels from Russia

    May 7 – Import volume of raw timber materials from Russia to Japan, which dropped drastically the last three years, may soon increase again said Tamba Tosikhito, the head of the Japanese Lumber Importers Association (JLIA), in a meeting with Russian Dalexportles in Khabarovsk city last week. Tamba also noted that timber has to be[…..]

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    Twitter Attracts Russian Government Agencies

    May 5 – The Federal Financial Markets Service (FFMS) has started publishing its news on the microblogging service Twitter. “We registered an FFMS account and the first news about Instruction of Derivative Financial Tools has been published,” said FFMS chief Vladimir Milovidov yesterday. The Federal Financial Markets Service is the second Twitter-established Russian government service[…..]

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