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After the central Bank’s 11th consecutive refinancing rate cut which way is Russia’s economy headed?

Business and Politics collide: Russneft's head resigns The head of Russian oil and gas producer Russneft has stepped down in the hope of ending the uncertainty about the company's future. It comes as Oleg Deripaska's Basic Element applies to the Federal Anti-Monopoly...

Pensions a priority in Russian budget Russia's first three-year budget will enhance macro-economic stability in Russia – that's according to the Russian President’s speech at Monday's meeting with ministers.

First-ever Russian-Japanese auto venture Russian automaker Severstal-Avto and Japanese truck maker Isuzu will launch a joint venture in the Volga region, after signing an agreement on Monday.

Interacive entertainers enter Russian market The world's leading developer of interactive entertainment, Electronic Arts, has opened its office in Russia.

Russneft may end up under state control The Russian oil company Russneft confirmed on Sunday, it is close to reaching a deal, ceding control to billionaire Oleg Deripaska. His asset-management firm, Basic Element, has applied to the Federal Antimonopoly...

UniCredit comes on strong in Russia Italy's UniCredit is on a shopping spree in Russia. It's completed a merger with the International Moscow Bank and has purchased investment bank, Aton.

Russian prosecutors look into banks’ loan practices Russia's Prosecutor General's Office has called for an inquiry into the lending practices of retail banks after receiving an unspecified number of complaints. Russian Standard Bank – with the largest number...

Russian Pacific Congress thinks big about the future An economic revolution, construction, and an investment boom await Russia’s Far East – that’s the general tone at the Pacific Economic Congress which has opened in the city of Vladivostok.

Sweden’s Scania plans new plant in Russia Sweden’s second-largest truck maker Scania is planning to build an assembly plant in Russia. It set to assemble 10,000 vehicles annually, but it will take four to five years to build the plant and plans are still at the...

Workers threaten strike at Russian automaker Strikes and industrial actions are on the rise in Russia. Workers at Russia’s largest automaker AvtoVAZ are preparing to strike over wage demands. Starting August 1, several workshops at the company’s Togliatti plant...

Gorbachev joins debate on U.S. anti-missile shield in Europe The first President of the USSR has stepped into the debate on Russia-U.S relations. Mikhail Gorbachev says the most crucial and controversial question of the U.S. anti-missile defence programme is the target of the...

Russian Forbes publishes Top 50 celebrities list The Russian edition of Forbes magazine has published its list of the most popular and richest celebrities of Russia. There are 50 of them: actors, musicians, models and sportsmen.

Eye on the environment - and profit The International Finance Corporation and MDM Bank say they will provide loans for energy efficiency to Russian companies.

Russia's GDP to grow by 7% in 2007: IMF The Russian economy has once again outperformed expectations, and is set to grow by 7% this year. These are the latest predictions from the International Monetary Fund which says along with India and China, Russia is...

Mortgage crisis warning International markets slump as the U.S. mortgage crisis leads to fears of a broader credit crunch. Analysts say Russia could be in line for the same medicine.

New chair on Russian stock exchange - bullish about the future The Russian stock exchange has got a new chairman and now wants to trade its shares on its own bourse in order to boost its capitalization.

Beauty industry gets bigger in Russia Russia’s health and beauty industry is attracting foreign investors, with the country's second-largest beauty salon chain recently agreeing to sell a major stake to Scandinavian private equity firm Mint Capital.

Looking for an Iron Grip It is the reporting season for Russia's metals producers but amid the focus on production results and targets, one of the country's largest gold miners is busy diversifying into iron ore.

Belarus dragging feet on Russian gas bill After a standoff at the start of this year, Gazprom increased the price it charges Belarus for gas from $US 55 to $US 100. Under the agreement, the price increase took effect in June. But Minsk hasn’t paid for any of...

Highway construction around Sochi to be tendered Sochi, host of the 2014 Winter Olympics, is holding a tender to build a US$2 BLN highway around the city.

Fast pace of Russian investments in fixed assets The growth of Russian capital investments in fixed assets has almost matched that of China, reaching a record 27% in June.

Russia might get more budget airlines soon Two of Russia’s richest men plan to start new national low-cost airlines by the end of this year but analysts are warning the country’s air infrastructure may not be able to support them.

Renaissance leaps to top ten for IPOs Russia's leading investment bank Renaissance Capital has entered the world top ten for initial public offerings in the first half of this year, despite remaining concerns over corporate governance in Russian companies...

Coca-Cola eyes up Kvass Coca-Cola is reported to have plans to enter the Russian kvass market. Production of the traditional local beverage, Kvass has become one of the fastest-growing soft drinks sectors in the country.

Chechen farms need larger market to grow Chechnya is struggling to restore its once renowned cattle farming industry. After years of armed conflict, the local farmers are trying to get their lives back to normal, but lack of investment and limited markets...

Cyber squatters ride on Sochi's Olympic success With Sochi nominated to host the 2014 Winter Olympics, a wealth of websites containing the name of the Black Sea resort have been created, including the website Sochi.info which was bought for for less than 100 euros...

Russian voucher privatisation: 15 years on Fifteen years ago Russia's government was finalising preparations for the most radical privatisation ever seen – to take the post-Soviet economy into the capitalist world. Boris Yeltsin's programme of free...

Russian drinks brand targets health market Russia's classic soft drinks brand Chernogolovka has overhauled its product range for the modern, health-conscious consumer, but analysts warn it is entering a tough battle with Western giants.

Battle for Russian entertainment TV Russian youth TV is gaining popularity in the domestic media market, with investors willing to pay above market rates for the country's top entertainment channels.

Business upbeat despite Russia-Britain row Business leaders and analysts are remaining upbeat about trade links between Russia and Britain, despite a diplomatic row caused by the UK expelling 4 Russian diplomats.

Chechnya attracts real estate investors: comments

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