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    Russia-Iran Visa Free Tourism On The Cards

    Moscow hopes to finish work on an agreement on visa-free tourist trips with Iran in the near future, Russian Foreign Ministry Spokeswoman Maria Zakharova said on Thursday. According to Zakharova, Russia’s Federal Tourism Agency is working with the Iranian partners on mechanisms of the implementation of the arrangements under the agreement. “We hope this work[…..]

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    US Online Vitamin Company iHerb Invests US$100 Million Into Russian Market

    The US-based iHerb online store, which specializes in sales of vitamins, dietary supplements and health and beauty goods, plans to invest US$100 million in Russia in construction of robotic distribution centers, support and promotion of Russian products export and improvement of the service for Russian customers, the company has stated.

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    Where Do Russians Send Money Overseas?

    A new report issued by CompareTheMarket shows that Russians transfer the fifth-highest amount of money worldwide, sending USD $22.217 billion (AUD $32.55 billion) overseas in 2019. Russia sent the most money to nations within close proximity, including:

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    European Business Investors Gloomy On Russian Prospects

    The Association of European Businesses in Russia (AEB) have issued an annual report that shows few see Russia as a growth market in coming years, and are concerned that business operations in Russia are becoming increasingly difficult for foreign  investors. Alarmingly, AEB members said that the increasing bureaucracy was hindering efforts and is a greater[…..]

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    Russia In Danger Of Conflicts In East, West & South As Regional Autocratic Leaders Fail

    Three Out Of Five Eurasian Economic Union States Now Facing Political Unrest  Op/Ed by Chris Devonshire-Ellis   2020 is fast developing into a highly problematic year in terms of Russian sovereignty and influence as political unrest flares up along its borders. Earlier in the year there were, and remain problems in Belarus with the legitimacy of[…..]

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    Russia, Malta Update Double Tax Treaty

    Russia and Malta have signed amendments to their Double Tax Agreement, to come into effect from January 1st 2021. The amendments increase interest and dividend tax to 15%, while also defining a list of exceptions. “Exceptions are provided for institutional investments, as well as for public companies, which have at least 15% of their shares[…..]

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    Murmansk To Promote Arctic Gastronomy Trade and Tourism

    Opportunities for International Chefs And Restaurants  The Russian Arctic capital city of Murmansk, close to the borders with Finland and Norway in Northern Europe, has laid out plans to develop as a gastronomic centre promoting Arctic foods.  Regional Governor Andrei Chibis said at the ‘Accessible Arctic’ forum this week that “We want to offer appropriate economic incentives to[…..]

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    BRICS Bank Finances Black Sea Trade, Toll Roads & Water Supply Projects In Russia

    The BRICS New Development Bank (NDB) has approved three loans worth more than US$300 million for the implementation of three separate infrastructure projects in Russia, the bank said in a statement.

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    Russian Arctic Economic Zone Attracts Investors In Logistics, Transport, Tourism & Fishing Industries

    Russia’s Ministry of Economic Development has stated that twenty businesses have made initial applications to invest in Karelia’s Arctic zone via the Arctic investment portal.

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    Russia To Raise Income Tax Rate To 15% On Annual Earnings Over Rubles 5 Million

    The Russian Government has submitted Bill No. 1022669-7 to the lower house of Parliament (State Duma), to increase the individual income tax rate on income earned over a specific threshold. The draft bill was submitted as part of the budget and was submitted on September 17.

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