Russians and Finns to invest $US 1.5 billion in timber: comments

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

Russia to suffer if West takes its money back The flow of money from West to East is being reversed. Western investors have pulled billions of dollars out of Russia since August to cover their global credit hits. Russian bankers have met in Moscow to discuss the...

Social blog firms still looking for jackpot This month’s deal between LiveJournal and a Moscow-based online media company, SUP, suggests blogging and social networking sites are the hottest thing on the Russian-language portion of the Internet. But it may be a...

Russia considering restrictions on grain exports Russia is likely to impose additional restrictions on grain exports after February 1, according to Agriculture Minister Alexei Gordeyev.

Russian private investor profile gives cause for concern It shows a large proportion of shares are held by people who have neither the funds nor financial knowledge to place money profitably.

French retailer buys supermarkets in Russia Turkish company Enka is selling its 14 Ramstor hypermarkets to French retailer Aushan.

Russia-Greece oil pipeline 'one step away' Russia, Greece and Bulgaria have created a joint company to construct the Burgas-Alexandropolis oil pipeline which will link Russia with southern Europe. It is hoped it will contribute to European energy security. The...

Supply to EU assured as Gazprom launches new field Gazprom has launched production at the Yuzhno-Russkoye gas field. It's located in the Yamalo-Nenets Autonomous Area in Siberia. It will supply the Nord Stream gas pipeline to northern Europe.

Special Economic Zones attract investment of $US 32 million The amount of private investment in Russia’s Special Economic Zones (SEZs) has reached almost $US 32 million dollars. However, there's still a lot to do before the zones start to affect Russia’s economy.

Russian IT market booming Russia's IT and telecoms market is booming and is set to grow by 20% next year. The expansion is being fuelled by the rapid development of wireless and internet services.

EU pays steel giant 300 million euros to cut emissions Leading Russian steelmaker Severstal has received 300 million euros from the European Bank for Reconstruction and Development to slash its toxic emissions, among the highest on the continent. The leading Russian...

Russia showers $US 44 billion on agriculture Since the launch of the national agriculture project in 2005, investment in the development of the sector in Russia has tripled. Traditionally vital areas like the milk and meat industries have increased output. Milk...

Russian pensioners set for $US 20 billion windfall Russian pensioners will be the big winners, when the country’s massive Stabilisation Fund is split up next year. $US 20 billion will be set aside for a National Welfare Fund.

Germans want to lobby their business in Russia Russia and Germany, long-time economic partners, have formed a bilateral Chamber of Commerce in Moscow. It will promote the interests of the two countries' business communities, especially for small and mid-sized...

Far East crisis makes people flee the region The economic development of Russia's Far East has been in the spotlight most of the week, following Prime Minister Viktor Zubkov's visit there. Poor infrastructure, lack of investment, and bad management are the main...

$US 1.5 BLN loan will help Belarus pay for Russian gas President Putin and his Belarusian counterpart Aleksandr Lukashenko have met in the capital Minsk. Russia has announced it won’t sharply increase gas prices for Belarus and will provide a state loan of $US 1.5 billion....

Russia’s flagship companies to pay $US 60 BLN in taxes? The new Russian parliament could consider a law forcing some Russian tycoons to pay more than $US 60 BLN in tax. The proposed bill could affect more than 200 of Russia's largest companies. Privatized in the 1990s, they...

Flagship companies to pay $US 60 BLN in taxes? The Russian government may receive an additional $US 60 BLN from the country's largest companies. A draft law sent to the Duma calls for a one-time tax to compensate the state for profits lost in the privatisation in...

Norilsk Nickel could not split with its energy assets Norilsk Nickel shareholder Mikhail Prokhorov has blocked a plan to spin off the metals giant’s energy assets into a separate entity. Until Prokhorov’s stake is sold, their fate remains in balance.

Finance Minister visits deputy in jail Russia's Finance Minister Aleksey Kudrin has met his deputy Sergey Storchak, for the first time since Storchak was arrested on November 15 over embezzlement charges.

Russia's Gazprom snaps up Italy stake Italy's energy company Enel SpA is ready to sell a minority stake in an Italian power station worth $US200 million to Gazprom.

Lukoil & Iran agree expanded oil and gas deal Russia's energy giant Lukoil says it's been given the go-ahead to expand its oil and gas activities in Iran.

Russian inflation soars to 12%, up 3% Russia’s Economic Development Ministry says inflation this year will be 12%. Initially, the government forecast inflation at 7-8%, and then revised its estimate upwards in October. Inflation to date this year reached...

EU pours in dollars to ease market tensions The European Central bank will tender as much as $US 20 billion to European banks to ease money market tensions. It measure came just one day after the US Federal reserve disappointed investors with a quarter percentage...

Russians to trade foreign stocks soon? Russians may soon be allowed to trade shares of foreign companies on the local market. The financial markets watchdog has sent a draft law to the Russian Parliament. If passed, the new law would have far-reaching...

Ukrainian vodka exports to Russia soar. China on target New figures show imports of strong alcohol to Russia this year have risen 40% by volume and 80% by revenue to $US 839 million. The biggest gainer has been Ukrainian vodka giant Nemiroff, whose director in Russia...

Russian oil giants consider rouble switch Lukoil and Rosneft say they'll consider selling their oil and gas in roubles instead of dollars, if the U.S. currency continues to depreciate.

Boeing & Airbus back Siberian metals plant In Russia’s Sverdlovsk Region, a new state-of-the-art processing facility for the thermo-mechanical treatment of aluminium sheets used in aircraft building is operating.

EU welcomes Russia's decision to lift Polish meat restrictions The European Union has welcomed Russia's decision to lift a ban on meat imports from Poland, which will come into force next week when the deal is signed.

New plant unites legendary helicopters brands Russia's Oboronprom helicopter holding is to build a new factory in Moscow Region to produce Kamov and Mil helicopters.

Russian borrowers set for rates rise Borrowing money in Russia may cost more in 2008, as Russia begins to feel the effects of the international liquidity squeeze.

Russians and Finns to invest $US 1.5 billion in timber: comments

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