BUSINESS

Latest News

Language

• Russian

• July 5, 2010 by Russia Briefing
  

  Ukraine to Place Ruble-Denominated Sovereign Bonds in Russia

  Jul. 5 – Ukraine is preparing to place ruble-denominated sovereign bonds on the Russian market, Russian Federation Minister of Finance Alexey Kudrin stated on an investment forum in Yalta. “The preparatory now work is going on,” he said. According to Kudrin, Russia’s second biggest bank, state-controlled VTB (Vneshtorgbank) may be involved in the issue. Ukrainian[…..]
• July 1, 2010 by Russia Briefing
  

  Legal Precedent Complicates Foreign Investment in Strategic Sectors

  Jul. 1 – A court decision based on the law on foreign investments for strategic Russian companies may essentially complicate investor access to the market. The Commercial Court of Moscow City announced its decision on the Megafon cellular operator case on Tuesday; invalidating all positions of the agreement on establishing joint venture in which Russian[…..]
• June 30, 2010 by Russia Briefing
  

  Sberbank to Involve Commercial Banks in Social Card System

  Jun. 30 – State-owned Savings Bank (Sberbank) made the first step in creating a system of universal electronic social cards, which will give Russian citizens access to future electronic state services, Kommersant-Kazan daily reports. Sberbank has registered open joint-stock company Universal Electronic Card which will operate the new system together with Uralsib bank and Ak[…..]
• June 29, 2010 by Russia Briefing
  

  New Decree to End Federal Land Sales Monopoly

  Jun. 29 – Russian Prime Minister Vladimir Putin has issued a decree which allows several federal state unitary enterprises (FSUE) to operate with state-owned real estate. Decree No. 435 will effectively destroy the existing federal lands sales system monopoly, which was built by the head of the Housing Construction Development Assistance Fund (HCDAF) Alexander Braverman,[…..]
• June 28, 2010 by Russia Briefing
  

  Russian Light Industry to Replace Foreign Manufacturing

  Jun. 28 – The illegal importation of light industry goods to Russia is falling from 60 percent to 40 percent, giving Russian sewing, textile and shoe manufacturers a good chance to take over the domestic market. Meanwhile, the situation might be complicated by new duties within the limits of the Russia, Belarus, and Kazakhstan Customs[…..]
• June 25, 2010 by Russia Briefing
  

  Chinese Investors to Develop Russia’s Far East

  Jun. 25 – The advisory council for Russia’s Ministry of Regional Development approved eight projects from more than 200 joint projects planned for 2009-2018 in frontier regions of Russia and China. According to the list of investment projects published on the ministry’s web site, long term Russian-Chinese cooperation will start from the Chukotka region’s Beringovsky[…..]
• June 24, 2010 by Russia Briefing
  

  Foreign Investors to Join in Regional Airport Modernization Projects

  Jun. 24 – The Kurumoch International Airport in Samara is excluded from the list of strategic enterprises and joint-stock companies included in President Dmitry Medvedev’s June 18 decree, the government of Samara said to the Russian media yesterday. Earlier this month President Dmitry Medvedev signed a decree reducing the number of strategic companies which enjoy[…..]
• June 23, 2010 by Russia Briefing
  

  Central Bank Withdraws Licenses for Questionable Reporting

  Jun. 23 – The Central Bank of Russia has taken advantage of new license revoking powers from banks for questionable reporting. The Udmurt pension bank became the first victim of these new regulations, losing its license last week, Russian daily Kommersant reports. Shortly before this, for the first time since the moratorium on bank exceptions[…..]
• June 22, 2010 by Russia Briefing
  

  Russia Moves to Protect Businessmen Suspected of Economic Crimes

  Jun. 22 – The Russian State Duma plans to remove imperfections from legislation preventing President Dmitry Medvedev from mitigating punishment for businessmen. “Necessary amendments to the Russian Criminal Code and the Criminal Procedure Code will be introduced to the State Duma next week,” said deputy Andrey Nazarov, one of the authors of amendments. Expert’s estimate[…..]
• June 18, 2010 by Russia Briefing
  

  Russia Looks to Amend Liability Laws to Help Shareholders Lay Claims Against Top Managers

  Jun. 18 – The Russian government is considering approving amendments that will oblige top-managers to “be solicitous and loyal to the company they work for” or be liable for damage inflicted on business owners and investors. Cases of damage claims from top managers are very rare in Russia. Few have been successfully prosecuted with the[…..]