Is the economy overheating?: comments

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

Oil billions to bolster Russian pensions Russia’s national welfare fund, which currently tops $US 32 billion, could soon take advantage of the new more liberal investment mechanisms created by the Ministry of Finance. The new conditions will allow Russia to...

Russian telecom major goes to Iran Russia’s third largest mobile telecom operator MegaFon has announced it is ready to invest $US 4.65 billion in the construction of a network in Iran if it gets the licence. Both GSM and 3G rights are to be auctioned...

Energy giants likely to gain from cabinet reshuffle The Russian stock market continued to rally on Monday, spurred on by the cabinet reshuffle. The markets boomed last week after President Dmitry Medvedev’s inauguration and Vladimir Putin’s appointment as Prime Minister....

Russia’s economic ministers survive reshuffle The Russian government’s economic team remained unchanged following the appointment of a new cabinet on Monday.

Virgin enters Russian telco market British giant Virgin Group is to launch WiMAX services in Russia’s 30 biggest cities, according to the Kommersant business daily. An official announcement is expected later this week.

Russian search engine among Europe’s most used Yandex, Russia’s major search engine, has reached third place in the ranking of Europe’s most popular websites.

Gazprom roars into world’s top three Russian gas giant Gazprom has become the world's third most valuable company after its former chairman, Dmitry Medvedev, was inaugurated as president last week.

Fertiliser prices hit all time highs Fertiliser prices will grow beyond the 60% jump seen so far this year, according to analysts. Producers, too, believe the trend will continue.

Importing tea to Russia is nightmare Curbing red tape on small and medium business is among the top priorities for Vladimir Putin in his new role as Russian Prime Minister. The amount of paperwork could be stopping local and foreign firms entering the...

Russian military driven by exports Russia's military might was on display in Red Square on Friday, as the country paid tribute to its armed forces. The Russian defence industry is an export success, though its outlook is uncertain.

Capacity doubled on Caspian pipeline Russia and Kazakhstan have agreed to double the capacity of the Caspian pipeline, which will eventually open up Central Asian oil fields to western markets.

Russian chemical firm targets 5% global share A Russian chemicals giant is aiming for a 5% share of the world production market of a resin best known for its use in laminates and plastics. EvroChem will pioneer the manufacture of melamine in partnership with the...

Is it time to free the rouble? The appreciating rouble is an attractive asset for international investors. However to become a real reserve currency the rouble has to break free from Central Bank control. President Medvedev previously voiced his...

Russia looks to boost economic zones The Russian Government is slowly narrowing down applications for the special economic zones, designed to drive growth through low taxes and government investment.

Oil producers suffer from inflation hikes Shares in Russian oil firms are in high demand, as crude oil has hit $US122 a barrel this week. But it’s not all good news for the industry. Inflation is starting to bite oil companies.

Household gas will rise 40%: Minister The average price of household gas in Russia will increase by 40% in 2011, according to Deputy Economic Development Minister. But Andrey Klepach says prices will remain virtually unchanged until then.

$100 helicopters to beat Moscow traffic Moscow’s notoriously heavy traffic has spurned a new industry in commuter helicopters. From next year, helicopters will run every 30 minutes from Moscow’s Vnukovo-3 airport. Ten berths are being built at the airport,...

Inflation slices into household budgets With price freezes on essential food items lifted this month, Russian inflation remains high. Central banks throughout Europe say they have few answers, and finance ministries are now being called on to bring government...

Rouble will be best currency investment: Bloomberg According to Bloomberg, the world’s biggest banks are advising the purchase of roubles, betting that Medvedev will promote a policy of strengthening the Russian currency.

Airport tariffs take off Russia's Federal Tariff Service has redefined the way airlines will be charged for using the country's airports. This comes in the wake of rapidly growing fuel prices, which have risen by 20% since the beginning of the...

Russia’s longest bridge opens up new energy resources The longest railway bridge in Russia is due to be finished by 2009. The link across the Yuribey River on the Yamal Peninsula in the north-west of Siberia is probably the most challenging construction project under way...

No deal! Microsoft walks away from Yahoo! bid Microsoft has abandoned its bid to take over internet company Yahoo! after months of negotiations.

Book now! Space tourism the next big thing A private Russian company has commissioned the Myasishchev Aerospace Bureau to design a tourist spacecraft. The bureau says it's working on a feasibility study for the spacecraft and the project is fully funded by the...

Bentley steps up a gear in Russia While economic uncertainty is putting a dent in the luxury car market in many countries, Russian buyers are still snapping up prestige Bentleys. The British car-maker is so confident of the Russian market, it has drawn...

Jet fuel monopolies hurting Russian airlines The price of jet fuel is starting to be a heavy burden for Russian airlines, which pay more than their European and American counterparts.

Moscow’s airports battle it out Moscow’s three international airports have long been in competition to attract client airlines. Now airlines are looking to create hubs with alliance partners, thus hoping to improve airport infrastructure.

Bidding war likely for Russia’s largest copper deposit The closing date for bids to develop one of the world’s largest copper deposits, Russia's Udokan field, is only two weeks away. With copper prices climbing as a result of strong global demand, analysts are predicting a...

Banks eye Russia’s National Wealth Fund A tug-of-war is developing over Russia's newly-created National Wealth Fund, which is worth $US 32 billion. The country's Central Bank is keen to use it to build up Russian stakes in foreign firms, while some of the...

Kyoto projects gain momentum The global carbon credit market has nearly tripled in the last three years, according to New Carbon Finance. The market is a key part of the global effort to reduce emissions and protect the environment, as stipulated...

Trade between Russia and EU held up by Lithuania At a meeting in Luxembourg the EU countries have failed to agree on a mandate for partnership talks with Russia.

Is the economy overheating?: comments

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