Business elite beat jams with flying taxis: comments

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

Supermarket sweep for Russian retail giant Russia's largest retail group, X5, is to buy 22 Karusel hypermarkets and a number of other sites for future stores.

Farming’s key role in helping Russia join World Trade body Russia’s bid to join the World Trade Organisation could hinge on its policies on farming.

Gazprom powers-up new gas fired plant One of Gazprom’s largest power assets, Mosenergo, has launched a new gas-fired plant that will provide 450 megawatts for the Moscow region. It cost Gazprom half a billion dollars and is just the beginning, according to...

Inflation nation: Russia heading for double digits Russia's annual inflation will exceed the government's target, according to Central Bank first deputy chairman Gennady Melikyan. The fears have prompted the government, as well as the Central Bank, to tighten their...

Europe to lose 10% control of jet fighters The European Aeronautic Defence and Space Company (EADS) will sell its 10% stake in Russia's Irkut plane builder as part of a buyout offer called earlier by the United Aircraft Corporation (UAC). The deal will cost UAC...

Japanese bank funds Russia’s major gas project Sakhalin Energy, operator of the huge Sakhalin-II gas project in Russia's Far East, has secured $US 5.3 billion to finance the project's second phase.

Import, export: Russia’s talent flow works both ways Gone are the days when foreigners thought Russia was snow-covered round the year with bears prowling the streets. Today, Moscow is a place teeming with opportunities for foreigners. Likewise, many Russians also look...

Blair praises 'strong' Russian leadership Leading figures from the world of politics, including Tony Blair and Henry Kissinger, are in Moscow this week to speak at the city’s Renaissance Capital Investor Conference.

Rocketing fuel prices cripple Aeroflot profits Russia’s biggest air carrier Aeroflot has warned that their profits for 2008 will be down by as much as 30% on their forecasted results. The company blames record-high fuel prices.

World Bank chief warns Russia on inflation The president of the World Bank, Robert Zoellick, has warned Russia that it has to fight harder to cut inflation if it wants to maintain its rapid economic growth. The bank has agreed to fund major infrastructure...

Fridman blames BP management for TNK-BP’s poor performance Russian billionaire Mikhail Fridman, chairman of oil giant TNK-BP, has renewed his criticism of the joint venture's management. He has threatened new legal moves to defend the Russian shareholders' interests and said...

TNK-BP dispute could end up in court The Russian shareholders of TNK-BP say they want to swap their 50% stake in the corporation for shares in BP, reports Kommersant business daily. Such a deal would give the Russian faction (the AAR group) 7.6% of the...

Economy soars despite global slowdown The Russian economy has defied gloomy predictions to grow at an annual rate of 8.5% in the first quarter of this year. The better-than-expected figures were released by Russia's federal statistics service.

Software writers are Russia’s hidden resource Russia’s computer software industry is on the up and international investors are rushing to pump money into one of the country’s most exciting and innovative sectors.

Box office boom fuels cinema revival Russia's consumer boom has triggered massive growth in the domestic movie industry, with box office takings growing at 37 per cent a year. However, there’s room for improvement. The insustry is hoping to increase the...

Is Russia losing interest in a gas cartel? Russia has postponed negotiations on the gas equivalent of oil’s OPEC until October. Moscow helped initiate the Gas Exporting Countries Forum (GECF) – but now its interest seems to be fading. Experts say...

Head of Russia's disbanding electricity monopoly still full of plans Just days before electricity monopoly UES ceases to exist its head, Anatoly Chubais, has taken part in two ceremonies launching the construction of new power plants in Western Siberia.

Can anything stop petrol price surge? The price of petrol in Russia may reach $US 1.20 per litre by the end of the summer, which would be an increase of 50% since the beginning of the year. So far, Russia has escaped the fuel protests seen in other...

BP chief accuses TNK of corporate raiding The Russian shareholders of oil company TNK-BP have announced they're starting legal action against BP after the two sides failed to reach a compromise over management strategy. The BP Chairman has called the actions of...

Singapore gives lesson on economic zones Russia has set aside $US 1.7 billion over the next ten years to create special economic zones (SEZ). But such zones need much more than just cash to be successful. More than anything, they need know-how. Singapore has...

OPEC blames speculators for rising oil price The price of crude oil could hit $US 250 per barrel in the foreseeable future, according to the head of the Russian energy giant Gazprom. In response, the Organisation of the Petroleum Exporting Countries assured the...

Gazprom wants piece of TNK-BP Russia’s gas monopoly Gazprom has said it’s interested in buying a stake in the TNK-BP oil company, but only after the present dispute has been resolved. The Russo-British joint venture is split by a dispute among the...

Aluminium leader goes for greener production Russia’s largest aluminum producer, Rusal, has begun testing new smelting technology that should cut greenhouse gas emissions by a third.

Tycoon pulls his money out of Russia Russian tycoon Suleiman Kerimov has reportedly sold his holdings of domestic assets, including stakes in Gazprom and Sberbank. The world’s 36th weathiest man (according to the Forbes rich list) is believed to have...

Car giants get wheels rolling on new plant Peugeot Citroen and Mitsubishi Motors have begun work on their new half-billion dollar car plant in Russia's Kaluga Region. The two companies are expected to get half of their materials locally as component...

Moscow airport gets rail link to city Passengers flying into Moscow’s main international airport will no longer have to queue for expensive taxis or wait for buses to take them to the city centre. Sheremetyevo finally has an express rail link to the city...

Gazprom poised to be world’s biggest company: CEO The Chief Executive of Gazprom says the state-run energy giant will become the world’s largest company. Speaking at a European Business Congress in France, Aleksey Miller said Gazprom will be worth a massive $US 1...

Profits leap at Russian oil major First quarter (Q1) net profits at Russia’s state oil company Rosneft are up more than 600% on the same period in 2007. Rosneft made $US 2.564 billion in the first three months of 2008, according to the company’s...

French food chain expands in Siberia French-based retailer Auchan is aiming to expand its presence in Russia. The food giant is angling to buy the hypermarket chain Alpi in the city of Krasnoyarsk in Siberia. The companies are holding talks on a buy-out,...

Rents soar on Moscow’s top shopping street Tverskaya Street in the heart of Moscow has joined the list of the world's most expensive streets in which to rent retail space, after New York’s Fifth Avenue and the Champs Elysees in Paris. But the sky-high rents...

Business elite beat jams with flying taxis: comments

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Moscow’s fire chief killed in blaze

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