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    KuibyshevAzot to Switch to Yuan-Denominated Calculations

    Aug. 3 –Russian chemical producer KuibyshevAzot OJSC has decided to switch from the Russian ruble to the Chinese yuan when settling accounts with its Chinese clients, Russian weekly Vedomosti-Samara reports. “Calculations with Chinese consumers of polyamide-6 switched to the yuan on July 13th this year,” according to a company press release. “Calculating in yuan will[…..]

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    Global Investors to Increase their Russian Equities

    Aug. 2 –Foreign investors invested US$103 million into Russian equities last week after an outflow of US$11 million the week before according to the experts at EPFR Global. From the beginning of this year, the net-inflow of investment into Russian funds totals near US$2.1 billion. ″Judging from EPFR data, optimism has returned to emerging market[…..]

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    Goldman Sachs and Credit Suisse Buy Stakes in Bank of Moscow

    Jul. 30 – International investment banks Goldman Sachs and Credit Suisse bought stakes of 3.88 percent and 2.77 percent, respectively, in the state-run Bank of Moscow. According to Reuters, the Bank of Moscow has a total market cap of US$5.1 billion.”Goldman Sachs has investments in more than 20 projects in Russia, but there is no[…..]

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    Russia May Ease Export Regulations

    Jul. 28 – President Dmitry Medvedev agreed to allow the transportation of goods through the Russian border without a “transaction passport” if costs do not exceed US$100,000. Yesterday, during the presidential commission on economic modernization, the head of state-run Russian Venture Company Igor Agamirzjan enumerated the problems that disturb venture investments and what needs to[…..]

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    Post Operator Pochta Rossii to Enter Money Transfer Market

    Jul. 27 – Russia’s state-run national post operator Pochta Rossii has entered the immediate money transfer market with a new service named Forcage, which will allow funds transfer within an hour, according to the company’s press release. Before establishing this service, the delivery of funds took anywhere between four hours to three days. Now, delivery[…..]

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    Russian Government May Privatize State-Run Corporations

    Jul. 26 – The Ministry of Finance has suggested that the government privatize packages of 10 state-run companies and banks over the next three years, an official told Russian daily Vedomosti. The Russian state-run companies Transneft and Rosneft are included in the 2011-2013 privatization plan, as are Federal Grid Company of Unified Energy System, Rusgidro,[…..]

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    Russia Considers Flexibility in Mining License Conditions

    Jul. 23 – The Ministry of Environmental Protection and Natural Resources has proposed that companies be given the option to change conditions in their licenses to allow them to cut extraction volumes. This measure will allow companies struggling with low raw material demand to reduce extraction without the fear of losing their licenses, Russian daily[…..]

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    Russian Government to Introduce Differentiation on Taxation of Oil Producers

    Jul. 22 – The small deposit developers of the Russian oil industry may soon be granted tax cuts, Russian daily Vedomosti-Kazan reports. The Ministry of Finance has published the final draft of the tax code amendment on a its official site, which places a differentiation on the taxation of deposits depending on its stocks.

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    Russian Economy Shows Recovery Signs

    Jul. 20 – Russia reported good economic results during the first half of the year, although investment activity remained low. From January to July, Russia’s GDP grew by 4.2 percent compared to the same period last year, Elvira Nabiullina, Russia’s economic and trade minister said yesterday during the government session. “This is quite a good[…..]

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    Russia Moves to Reduce Number of Licensed Industries

    Jul. 19 – Nine different industries and type of business activities, including medical services and pharmacies, will no longer need to obtain a license while all other industries will see their licensing procedures simplified. The Russian government is considering amendments to the federal law on licensing today. “It is necessary to reduce the list of[…..]

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