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    Russia’s diamond miner to start new kimberlite pipe and plug state budget holes

    By Marina Romanova Russian diamond miner Alrosa PJSC has announced the start of the development of Zarya kimberlite pipe, a new deposit in its Aikhal Mining and Processing Division (MPD) located in Mirny District of Russian Republic of Sakha. The initial investment estimated by the company to approximately US $150 million. The announcement came along with the news[…..]

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    Regulator to approve acquisition of 13.3 percent of Siberian Bystrinsky GOK by Chinese Investors

    By Marina Romanova Government Commission on Monitoring Foreign Investments has approved long anticipated acquisition of 13.3 percent of Bystrinsky copper-gold-iron development project by Chinese Highland Fund, www.finmarket.ru quoted Igor Artemyev, head of the Russian Federal Antimonopoly Service, as saying. Last December, China’s Highland Fund, consortium established by prominent Chinese investment funds and corporations, has agreed[…..]

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    Russia to reduce its reliance on Boeing and Airbus with new passenger jet

    By Marina Romanova Siberian Irkut Corp. assembling plant, part of the Russian state-run United Aircraft Corporation, rollout a new mid-range passenger jet MC-21-300 this Wednesday in corporation’s home city of Irkutsk, corporation press release said. The much-anticipated new aircraft was named as a successor to the Tu-154, the legendary Soviet-era trusty beast which had faithfully served then[…..]

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    Russia offers free land to Russians and foreigners

    By Marina Romanova In an attempt to boost the population and economy of the largely undeveloped regions,Vladimir Putin has ordered free land handouts in Russia’s Far East and Siberia. Last week he signed a law offering land plots to Russians and foreigners for free if they are willing move to the country’s remote Far Eastern[…..]

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    The region largest mobile solar power plant launched in Uzbekistan

    By Marina Romanova The largest ever stand-alone mobile solar power plant with capacity of 1.2 MW entered into commercial operation near the Bukhara city of Uzbekistan. The new solar power plant, launched by international oilfield service group ERIELL in collaboration with the United Arab Emirates’s ENESOL, has no analogues in the Central Asia and former[…..]

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    Q&A: Electronic Document Interchange in Russia

    I don’t see other companies using EDI so why should I? Because EDI is a common back-office function, it is often not visible to the end-user but its usage is felt everywhere. Also, while EDI is rather new in Russia, companies are still learning about the possibility and many are not aware of the capabilities[…..]

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    Electronic Document Interchange Security in Russia

    By Alexey Kozlov and Dmitry Slinkov Following the global trend of digitalization, the Russian Federation enacted legislation that allows companies to carry out an electronic exchange of legally valid documents, such VAT invoices, goods acceptance protocols and service acceptance protocols. The banking industry has been a pioneer and key driver in the electronic document interchange,[…..]

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    Electronic Document Interchange: International Experience

    By Paul Sprague For quite some time, there has been a movement in Europe and the United States towards creating an electronic document interchange (EDI) between companies that would reduce cost and improve accuracy in the long term. This movement was started with the implementation of communication standards in the mid 1980’s followed by legislative[…..]

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    Runet to Represent 2.8 Percent of Russian GDP by 2016

    Oct. 11 – Russian internet, or Runet, has been labeled the fastest-growing Internet economy in Europe and now represents 1 percent of the country’s GDP, according to a recent report released by the Moscow Higher School of Economics and the Russian Electronic Communications Association. According to the report, Internet businesses are demonstrating strong sales across[…..]

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    Evraz to Become Russia’s Largest Coking Coal Producer

    Oct. 9 – Russia’s Evraz is to take control over coal miner Raspadskaya after acquiring half the stake of the Cyprus-based investment vehicle, Corber Enterprises. This US$800-million deal will enable the steelmaker to sufficiently run the coal-coking business as well as turning it into Russia’s largest steel-component producer. Although Evraz did not specify the total[…..]

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