Russia to become Adidas’s biggest European market : comments

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

Ukraine may shatter Russia's WTO hopes Ukraine, which recently joined the World Trade Organisation, has signaled that it wants to possibly block Russia's accession.

Lukoil turns on the tap in Belgium Russian oil giant Lukoil has opened its first filling station in Belgium.

U.S. town axes Russian millionaire's palace plan The town of Greenwich, Connecticut, has denied Russian businessman Valery Kogan permission to build a 5,000 square metre mansion, after local residents submitted a petition against the project, reports Bloomberg.

Sochi highlights infrastructure problems Russia’s Olympic city of 2014 has been hosting events to draw attention to the country’s infrastructure problems. Transport Week, a railway business forum and a transport exhibition have all been held. Top managers from...

VTB to bid for struggling European banks Russian bank VTB has confirmed it may bid for European banks hit by the global liquidity crisis.

Sochi wins from massive roads boost Poor roads and a lack of infrastructure have long been a headache for Russia. Now Prime Minister Vladimir Putin says if Russia continues to lag behind, the economy will simply stop growing.

European energy security under threat The European Commission wants to limit non-EU members operating on its energy transportation networks. Russia says it won’t be able to guarantee security of supply if the EU approves its so-called “third energy...

Russia commits $US 550 BLN for infrastructure Russia will invest almost $US 550 billion in its transportation system between years 2010 and 2015.

Moscow all set for English onslaught Moscow is getting ready to host the Football Champions League Final on Wednesday. More than 55,000 thousand fans from English are expected to travel to Russia to see their countries top clubs Chelsea and Manchester...

Is Sberbank poised to swallow foreign banks? The head of Sberbank has admitted that he faces a “massive challenge” in turning the corporation into one of the world’s biggest banks. Analysts say the country’s largest financial corporation can only...

Russia must grow its own food - Putin Vladimir Putin says Russia needs to cut its dependence on food imports in order to protect the population from sharp price rises. The Prime Minister made his comments during a visit to Stavropol region, the country’s...

Investment in arable farming reaps rewards While the world grapples with food shortages and rising prices, Russia’s grain harvest is growing. Agriculture Minister Alexey Gordeyev expects a total 85 million tonnes, while the Grain Union says it could be even...

Demand outstrips supply of Russian turbines Russia's power generator OGK-1 will spend about $US 150 million on two turbines from Siemens. In addition, Russian generators plan to pump a total of $US 32 billion into new capacity by 2010. Almost half the money may...

Russia to invest petrodollars abroad Russia could soon invest its oil billions in direct overseas investments if its national welfare fund gets more freedom about how it's used. To this end, the Finance Ministry's debt department will prepare more liberal...

Watchdog suspects steel makers of price-fixing The price of steel is going through the roof across the world, mainly because the cost of transporting it and buying the raw materials used to make it have risen dramatically. But the Anti-monopoly Service believes some...

Gazprom gets access to Canada’s market Gazprom has made its first large investment in North America, reserving all the capacity at the Rabaska LNG terminal in Canada.

Russia leads in busting software piracy Russia was the most successful country in nailing PC software piracy in 2007. According to a study by research firm IDC, conducted for the Business Software Alliance, an organisation promoting legal software...

Russia seeks foothold in helicopter market Russia's helicopter makers are signing major deals with foreign engine and avionics manufacturers in an effort to claw back their falling market share. Heli-Russia, the first ever dedicated helicopter show to take place...

Mid-range hotels tempt investors Slovak investor J&T group has bought a 75 per cent stake in one of Moscow’s best situated hotels, the Balchug Kempinsky, outbidding several Russian companies. However, experts say a five-star hotel in Moscow is more a...

Putin says average pay must rise At the first session of Russia’s new cabinet, economic matters took centre stage. The meeting focused on the Economic Development Ministry's three-year forecast, which will form the basis for calculating the budget this...

Gazprom picked up new gas fields without tender Russian business daily Kommersant reports that the day before the new president's inauguration energy giant Gazprom was granted one third of Russia's undeveloped federal gas reserves. It says the Kremlin handed over...

Government prepared to cut tax on crude The Russian government has proposed cutting the Natural Resources Extraction Tax on crude oil, a measure intended to prevent stagnation in the oil sector.

Mobile major dials up Africa and Middle East The owner of MTS, Sistema, wants to continue its aggressive expansion outside Russia this year and has found new partners in a bid to break into African and Middle Eastern telecom markets. The Russian mobile phone giant...

Putin opens oil export terminal on Baltic Vladimir Putin has opened a new terminal for the shipment of light-oil products in the Baltic port of Primorsk. The new terminal has a capacity of over 7 million tonnes of oil products a year and will provide Russia...

Medvedev to slash red tape for small businesses The new President says he has plans to increase the number of small enterprises in Russia. Figures show just 17 per cent of the work force are employed by small businesses, compared to 60 per cent in Europe. Dmitry...

German building materials firm invests €24 million into Russia Germany’s building materials manufacturer Xella is launching its first production unit in Russia. The company is investing €24 million in the production of its aero concrete on the premises of a concrete plant in the...

Russians see benefits of private pensions The private pension market in Russia is growing rapidly. Market analysts forecast that in the next seven years almost half of the country’s working population will transfer their pension savings from state-run companies...

Putin the PM appeals to shipbuilders During his first working visit to St. Petersburg as Prime Minister Vladimir Putin has visited the city’s federal shipyard. While there, he called on the country to improve its competitiveness in ahipbuilding , as well...

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...

Russia to become Adidas’s biggest European market : comments

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