Lukoil to get advantage in tender for West Qurna-2 field: Iraqi FM: comments

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

Ukraine to pay off gas debt by November Ukrainian gas consumers will pay their debts to Russian energy company Gazprom by November 1. The announcement came in a company press release following talks between Gazprom's head, Aleksey Miller, and the Ukrainian...

Gazprom named biggest Russian moneymaker Russia’s business and government elite gathered on Wednesday to honour the country’s biggest businesses based on the top 400 ranking issued by Expert rating agency.

Gazprom warns about Ukrainian gas debts Russian energy company Gazprom has confirmed that Ukraine, as a state, has no debt to it for gas supplies, while enterprises do. The company claims the debt stands at over $US 1 BLN and says it will be forced to reduce...

Red Wings gets Tupolev 204 jets Russian low-cost airline Red Wings is leasing five Tupolev 204 aircraft as it prepares to start operating in March 2008 with a fleet of exclusively Russian planes.

Head of RAO UES satisfied with OGK-2 shares pricing Russian wholesale generation company OGK-2 last week priced its shares below the middle of the price range, raising concerns that investors are no longer willing to pay a premium for Russian power generators.

Sochi property owners fear state takeover The Russian government is about to adopt what it calls an “Olympic Law” to oversee the development of Sochi, following the city's successful bid to host the 2014 Winter Olympics.

Russian billionaires shake hands on new divorce deal Magnate Vladimir Potanin is acquiring 100% of the Interros holding company, as he and fellow billionaire Mikhail Prokhorov separate their joint assets.

Budget surplus and liquidity - Russia's economic airbag Capital outflows rise, industrial output slows, but Russian politicians and economists are confident the country is weathering the global credit crisis.

Rostropovich art collection returns to Russia The art collection of celebrated cellist Mstislav Rostropovich, bought by Russian businessman Alisher Usmanov, is to find its permanent home in a palace in St. Petersburg.

Rotating skyscraper to transform Moscow skyline Russia's capital is set to follow the example of Dubai, and get its own spinning building. The design is the latest in a series of bold architectural adventures that are changing Moscow's skyline.

Business travellers welcome new Moscow hotel Affordable hotel rooms are like gold dust in Moscow, so the opening of a new hotel aimed at business travellers will be greeted with a fanfare by the business community. The former Soviet hotel, Mezhdunarodnaya, has...

Public rebuke takes shine off VTB’s results Russia's second largest bank, VTB, has announced its results for the first half of the year. Profits of US 504m were in line with market expectations, but VTB’s stock price fell after critical comments about the bank by...

Brand Russia aims to win more tourists Although this year’s Moscow international tourism fair attracted three times as many participants as it did in 2006, most analysts believe the country is only just beginning to realise its potential as a tourist...

Russia's biggest carmaker up for sale Russia's largest carmaker Avtovaz may sell a stake to Aleksey Mordashov, chief of Severstal, or magnate Alisher Usmanov, who heads MetalInvest.

Russian mobile operator enters Indian market Russian consumer services company Sistema has bought a 10% stake in Indian telecoms operator, Shy-am Telelink. The deal is worth $US 11.4m.

Russia drops out of business top 100 - World Bank Russia has slipped 10 places in a World Bank league table on how easy it is to do business around the globe. The report ranks Russia 106th out of 178 countries, slipping behind China for the first time.

Celtic Resources says Severstal offer too low Irish mining group Celtic Resources, which operates in Russia and Kazakhstan, has rejected a takeover bid by Severstal. The Russian steelmaker has made an offer to buy 73% of Celtic, in which it already owns a 26% stake.

New Superjet 100 unveiled in Russia Russia's first modern commercial passenger aircraft, the Sukhoi Superjet 100, has been unveiled in the far eastern city of Komsomolsk-on-Amur. The airliner is intended to replace most of the country's outdated short and...

Sukhoi set to unveil new passenger plane Russia’s long-awaited new passenger plane, the Sukhoi Superjet 100, is to be unveiled. The new jet, built in the Far East of the country, is expected to replace most of Russia’s outdated short and middle range civil...

Russian homebuyers flock to Bulgaria With house prices at home going through the roof, many Russians are looking abroad to get a foot on the property ladder. And Bulgaria is increasingly becoming the destination of choice. Its culturally similar to Russia...

Ex-soldier makes Abkhazian spice his business Rauf Djikirba from Abkhazia survived conflict with Georgia to find a new life in a very different field. Now he is known as the ‘Adzhika King’ for becoming a successful exporter of the traditional hot sauce.

Supermarkets still catching on and catching up Supermarket chains are increasing their presence in Russia's food retail market, but experts say the sector is still underdeveloped.

Private military contractors: new way of waging war? The U.S. security firm Blackwater USA has been at the centre of a scandal over the way it operates in Iraq. The Iraqi government has revoked Its licence following a firefight involving the company’s employees that left...

Sochi forum delegates wind down after work With a record attendance and $US 23 BLN worth of deals in the bank, the International Investment Forum in Sochi has been deemed a success. City leaders say the event was a dress rehearsal for the 2014 Winter Olympics...

Winter Olympics in spotlight at today's Sochi forum The 2014 Olympics in Sochi are the focus of day two at the International Investment Forum taking place in the city. Businessmen and politicians from Russia and abroad will discuss how to prepare the Black Sea resort for...

Nordstream pipe may take another twist A UNESCO world heritage site Sweden's Island of Gotland is wrapped in a heated debate about the route of Russian gas to mainland Europe via the Nordstream pipeline.

Thousands of delegates gather in Sochi for Investment Forum The sixth annual International Investment Forum is underway in the future Olympic City of Sochi. Businessmen and politicians from Russia and across the world are taking part. Its goal is to attract investment to...

Nord Stream says it will not face delays in construction Russian-German company Nord Stream says it won't face delays in building a new gas pipeline linking Russia and Western Europe despite Estonia's refusal to let it carry out geological surveys near its coastline.

Will EU slam door on Russians buying energy networks? The European Commission intends to block foreign energy suppliers from buying EU’s gas and electricity networks – a move that could hit Gazprom.

Dr. Frank Schauff Dr. Frank Schauff, CEO of the Association of EU businesses in Moscow, says that any protectionism is a mistake.

Lukoil to get advantage in tender for West Qurna-2 field: Iraqi FM: comments

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