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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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    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[…..]

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    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[…..]

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    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[…..]

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    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,[…..]

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    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[…..]

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    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[…..]

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    China Eximbank to Help Fund RusAl’s Factory Construction in Siberia

    Jun. 26 – Russian UC RusAl, the world’s largest aluminum producer, and the Export-Import Bank of China (China Eximbank), one of China’s largest financial institutions, have signed a cooperation agreement on a RusAl greenfield project in Eastern Siberia worth up to US$850 million. The agreement foresees joint cooperation on financing for the construction of a[…..]

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    Russia’s Second Largest Social Network to Launch English Version

    Jun. 20 – Russia’s second-largest social network Odnoklassniki is starting an English version of the site, the company told RIA Novosti. “People in 229 countries use the Odnoklassniki social network. Pitcairn Islands [in the Pacific] is the only territory we have not registered a single visit from,” the company said in a statement. “Therefore, we[…..]

Showing 10 of 151 articles