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    Belarus Meets Difficulties Due to Russian Oil and Gas Price Increase

    Aug. 19 – The Belarusian economy has been badly affected by the rise in Russian oil and gas prices, National Statistics Committee Belstat reports. In the first half of the year, oil imports from Russia declined 49.8 percent to 6.47 million tons and oil product imports have dropped more than 70 percent to 525,400 tons.[…..]

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    Russia Moves to Simplify Customs Procedures

    Aug. 18 – Customs administration became the main theme of an investment climate session held by Russian President Dmitry Medvedev in the city of Sochi yesterday. “The customs border costs are unpredictable and discourage investors from opening new production facilities in Russia,” said President Medvedev. “Such cases do happen.”

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    Number of Internet Users Increasing in Russia

    Aug. 17 – More than 43 million people in Russia log onto the internet monthly and, according to a survey conducted by National Network Domain Coordination Centre (NNDCC), “almost half the users will not refuse internet even if they don’t have enough money for food or clothes.” The number of weekly internet users is Russia[…..]

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    Russia to Establish Special Economic Zone in Samara Region

    Aug. 16 – From 2011 to 2014, the Russian government has agreed to allocate US$235 million from the federal budget to set up an industrial and production special economic zone (SEZ) in the Samara region on the Volga River. “A special industrial zone will be formed in the Stavropol municipal district of the Samara region.[…..]

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    Foreign Investors May Participate in Trebs and Titov Auction

    Aug. 12 – Russia’s official government web site has published conditions under which a license to the strategic Trebs and Titov oil and gas fields in the Arctic north will be put up for auction. According to the document, 15 percent of oil extracted from the strategic deposits will be sold out at the Russian[…..]

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    Russian Government to Reduce Risks for Leasing Companies

    Aug. 10 – The Ministry of Economic Development and Trade (MEDT) has prepared a bill that will reduce risks for leasing companies, but experts do not believe that it is enough to stimulate recovery in the leasing market. The leasing market in Russia has been brought down during the crisis. In 2008, the market volume[…..]

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    Ministry of Finance to Introduce New Taxation Mode

    Aug. 9 – Beginning next year, registered individual businesses will be able to pay taxes under patents when the unified imputed tax (UIT) is abolished, according to amendments to the Tax Code published on the Ministry of Finance web site yesterday. Imputed taxation applies to specific and typically small business activities involving trading with the[…..]

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    Russian Government Approves US$1 Billion in Foreign Investment

    Aug. 6 – The Government Commission on Monitoring Foreign Investments approved seven major deals totaling US$1 billion, the head of the Federal Anti-Monopoly Service Igor Artemyev said to reporters. In the opening remarks of the government commission meeting, Prime Minister Vladimir Putin said that foreign direct investment in Russia amounted to US$21 billion in the[…..]

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    National Financial Education Program to be Settled in Russia

    Aug. 5 – The Russian Ministry of Finance plans to begin the US$100 million National Financial Education Program, the Vedomosti reports. The program will be realized within five years with financial and ideological support from the World Bank. “During the preparation, we have conducted a number of surveys which confirm considerable problems in society’s perception[…..]

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    Customs Union Costing Russia US$158 Million

    Aug. 4 – The Accounts Chamber of the Russian Federation has tallied state budget losses of US$158 million since the Russian Federation, Republic of Kazakhstan and Republic of Belarus launched the Customs Union, according to a federal body information department report released yesterday. According to Accounts Chamber auditors Igor Vasilev and Victor Kosourov, the reduction[…..]

Showing 10 of 778 articles