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• July 15, 2014 by Russia Briefing
  

  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,[…..]
• June 19, 2014 by Russia Briefing
  

  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[…..]
• October 11, 2012 by Russia Briefing
  

  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[…..]
• October 9, 2012 by Russia Briefing
  

  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[…..]
• September 21, 2012 by Russia Briefing
  

  Russia’s Super-Rich Lack ‘Dynastic Will’

  Sept. 21 – Russian entrepreneurs have shown little desire to pass their companies onto their children, according to a survey released on Tuesday by Swiss banking giant UBS and Campden Research. The research polled 22 businessmen domiciled in Russia who have a net worth of about US$50 million each. The total revenue of the businesses[…..]
• August 31, 2012 by Russia Briefing
  

  Russians Prefer Pricy, Attractively-Equipped Cars

  Aug. 31 – Sales of budget-priced cars have declined in the Russian market for the first half of 2012, an Ernst & Young study says. Budget models that cost up to 600,000 rubles (US$18,737) accounted for less than half (49.5 percent) of total car sales countrywide, compared to the 55.8 percent of the market it[…..]
• August 28, 2012 by Russia Briefing
  

  MTS Hopes to Save US$1 Billion Business in Uzbekistan

  Aug. 28 – Russia’s top mobile phone company MTS still hopes to save its US$1 billion business after losing its operating license in Uzbekistan, where four local managers have been detained and a campaign of intimidation against other staff of its Uzbek subsidiary is in a progress. “Any way forward, as an integral part, needs[…..]
• August 23, 2012 by Russia Briefing
  

  Foreign Venture Capital Firms to Invest in Russian IT Market

  Aug. 23 – According to various estimations, more than 300 million euros (US$371 million) is expected to be invested into information technology companies in Russia in 2012. Foreign firms are also expected to take part. There are three foreign firms among the top 10 venture capital companies investing in Russia – Luxembourg-based Mangrove Capital Partners,[…..]
• July 20, 2012 by Russia Briefing
  

  Gazprom to Buy Gas in Brunei

  Jul. 20 – Russian state monopoly (and the holder of the world’s largest gas reserves) Gazprom could begin purchasing liquefied natural gas (LNG) from Brunei after 2013, when current contracts with its partner Brunei LNG will expire, the Russian daily Vedomosti reports, citing documents prepared for Gazprom’s board. Gazprom has been struggling to start LNG[…..]
• July 19, 2012 by Russia Briefing
  

  Zarubezhneft Discovers Offshore Oil Deposit in Vietnam

  Jul. 19 – OAO Zarubezhneft, a Russian state oil producer, has discovered an offshore oil deposit in Vietnam, the company said in a statement earlier this week. The deposit is located in the area where the company produces oil jointly with its Vietnamese partner PetroVietnam. “The results of well testing allow us to talk about[…..]