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    IKEA to Beat “The Way to Communism” and to Invest US$2.1 BLN in its Russian Malls

    By Marina Romanova The Supreme Court of Russia has affirmed the lower court’s ruling rejecting a claim of an agricultural enterprise, former collective farm “The Way to Communism”, which demanded to demolish two 15 store’s buildings of the “Khimky” business park, belonging to Swedish furniture retailer. Thus the court has settled the claim of IKEA,[…..]

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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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    The Golden Arches to Conquer Siberia

    Aug. 30 – The U.S.-based fast food chain McDonald’s is on the way into one of the largest Big Mac-free territories on the globe. There was confirmation this week that the hunt is on for 10 sites in Novosibirsk, Siberia’s largest city, for McDonald’s outlets. After serving more than 2 billion fast-food meals and opening[…..]

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    Russia’s Grain Crop to be Damaged by Drought

    Jul. 18 – Russian Agriculture Ministry estimates that some 28.3 million hectares of spring sowing and 16.1 million hectares of winter crops all over the country will be damaged by the current drought. That’s 3.4 percent of the total sown area, according to preliminary estimates on the ministry’s website. Droughts have hit 16 of Russia’s[…..]

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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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    Chinese Investors Look to Develop Russia’s Tourism Sector

    May 24 – Dalian Wanda Group and China Oceanwide Holdings are considering investing in the tourism and infrastructural development of Russia’s Krasnodar region, Dagestan republic, city of Sochi, and Siberian Lake Baikal, but no agreements have been signed. “We have made initial agreements with local authorities from these towns, so we have made the first[…..]

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    Sinopec and Sibur to Produce Rubber in Krasnoyarsk

    May 15 – China Petroleum and Chemical Corporation (Sinopec) and Sibur, the Russian petrochemicals group, have entered into a cooperation agreement to form a butadiene nitrile rubber joint venture in the Siberian city of Krasnoyarsk. The cooperation deal was signed by Sibur’s CEO Dmitry Konov and Sinopec’s president Wang Tianpu at the recent Russian-Chinese Forum[…..]

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    S&P Upgrades Novosibirsk

    May 2 – Standard & Poor’s upgraded Russia’s third largest city, Novosibirsk, from “stable” to “positive,” the credit-rating agency said in a statement issued this Monday. The ratings are constrained by what the agency regards as the city’s limited financial flexibility and predictability, as well as low economic productivity. However, these constraints are mitigated by[…..]

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    McDonald’s to Expand into Siberia

    Mar. 29 – U.S. fast food giant McDonald’s Corporation reportedly has begun to search for franchisees to expand into Siberia. The fast-food giant intends to open new outlets using the franchise business model that is the basis for 80 percent of its restaurants worldwide, but has not been used in Russia yet, according to RBC[…..]

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    Marriott to Expand Presence in Siberia

    Mar. 21 – The second Marriott Hotel will be open in Russian Siberia from December 2014, the Marriott International announced this week. The group’s first hotel was Courtyard by Marriott, built in Irkutsk with 208 rooms at an estimated cost of 25 million euros. The new Marriott Hotel will be constructed in the Siberian city[…..]

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