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    China Huandian Power Sign Joint Venture Deal with Russia’s TGK-2

    May 26 – Chinese Huadian Power International Corporation Ltd. (HPIC) will finally have a share of the Russian power market after a long bidding process. The company has entered a joint venture with Russian regional power generator TGK-2 for a thermal electric power plant project in Yaroslavl. Russia’s TGK-2, controlled by energy firm Sintez Group[…..]

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    Microcredits could Aid Russia’s Economic Recovery

    May 25 – The development of microfinancing credit opportunities could help the Russian economy recover from the recent economic downturn, stated members of the Association of Russian Banks during the first edition of the State Duma’s approval of the microfinancing bill, reports RosBusinessConsulting. According to data from the National Institute for System Studies of Entrepreneurship[…..]

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    Russian Bureaucrats Find an Efficient Mechanism to Attract Foreign Investors

    May 24 – Foreign direct investment funds, in cooperation with Vnesheconombank, might appear in Russia soon, Minister of Economic Development and Trade Elvira Nabiulina stated yesterday. She believes those funds have become an efficient instrument for attracting capital to the Russian economy while the government creates a friendlier business environment for investors. According to the[…..]

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    Russian Government Wants to Simplify Construction Legislation

    May 21 – The Russian government wants to implement the same measures used for the construction of Olympic-related facilities in the city of Sochi, host of the XXII Winter Olympic Games in 2014, for the country’s entire building industry. According to Russian Vice Prime Minister Dmitry Kozak, a simplification of the construction legislation will attract[…..]

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    Yandex Launches International Search Engine

    May 20 – Russia’s biggest internet firm, Yandex, is set to launch an international version of its search engine at yandex.com, company official Ochir Mandgikov publicized yesterday. Yandex declared in an earlier announcement that its search engine has indexed over four billion unique web pages in foreign languages during the past two years, of which[…..]

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    Russian Developers Given VAT Exemptions on Shared-Equity Construction

    May 19 – The Russian State Duma is exempting all developers operating under the law regulating shared-equity construction from value-added tax. All housing deals using private capital and creating property rights will now be made under shared equity law. Although deputies believe that the VAT exemption opportunity will motivate developers to operate under the law,[…..]

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    Russia’s Capital Outflow Hits US$203 Million

    May 18 – After three months of unbroken inflow, investors have started taking out capital from Russia and CIS country-oriented funds. According to fund tracker EPFR Global, capital outflow has reached US$203 million in the region, compared to losses of US$332 million in China, US$247 million in Brazil, US$189 million in India, and US$351 million[…..]

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    State Plans Could Cripple Vladivostok’s Outdoor Advertising Revenue

    May 14 – The State Duma might halve Vladivostok’s outdoor advertising market to give the city a face lift ahead of the 24th Asia-Pacific Economic Cooperation (APEC) Summit, to be held in the city in 2012. The bill, which can grant Vladivostok administration rights to forbid outdoor advertising in certain parts of the city, was[…..]

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    Russia to Issue New Property Tax Laws for 2013

    May 13 – Current land and real estate tax might be replaced by new property tax laws in 2013 after the next presidential election in Russia. According to Vedomosti, the new tax laws should become a basis for filling local budgets. The Ministry for Economic Development and Trade and the Ministry of Finance said the[…..]

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    Russia Gold Producer Polimetall Rakes in First Profit in Three Years

    May 11 – Leading Russian gold and silver producer Polimetall has registered profits for the first time in three years, announcing a US$96 million net income in 2009. The company’s growth has been brought around by favorable gold prices. According the company’s press release, the company made US$96 million net income in 2009 compared to[…..]

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