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24.09.2010, 12:28

New exchange bureau laws force new services

Banks are reducing the number of exchange points ahead of new laws coming into force on October 1 which will prohibit currency exchange activities for exchange points working outside bank offices.

24.09.2010, 12:39

S7 Airlines to expand services with Oneworld

Sibir Airlines which operates under the S7 brand, will become a member of the Oneworld alliance from November 15.

24.09.2010, 15:32

Import duties on agricultural produce proposed to go

A Russian government sub-committee on customs tariff has proposed abolishing import duties on potatoes, cabbage and buckwheat for six months as a protective measure against food price inflation.

RIA Novosti Photo 16.12.2009, 17:42 2 comments

Royal visitor points to TNK-BP’s future after shareholder disputes

Britain's special trade representative, the Duke of York, has paid a visit to energy company TNK-BP in what is being seen as a sign British and Russian shareholders have put their disputes behind them.

29.10.2010, 10:54 1 comment

Extraction and refining the focus as industry mulls taxes

Maintaining oil extraction is a priority for the government, which is also looking to increase the tax take from refiners. They say this may make some downstream operations unprofitable.

MICEX stock market in Moscow (AFP Photo / Alexander Nemenov) 13.03.2009, 19:58

Russian stocks push to 3 week high as crude firms

Russia helped lead emerging market stocks to a 3-week high on Friday, with higher crude prices, in the lead up to the weekends OPEC meeting, and buoyant global markets providing a welcome upside for local investors.

28.05.2009, 17:39

OPEC holds production levels despite crude glut

OPEC has decided not to cut output, despite record levels of crude in inventories and weak demand forecasts, with some cartel members believed to have ignored previous commitments to cut.

11.06.2009, 16:15

Investment essential for oil reserve turnaround as producer point to tax

Russia won’t reduce oil production in the next three years acording to Deputy Prime Minister, Igor Sechin. But after 2012, output will depend on investment in exploration, which has dropped significantly.

28.08.2009, 19:49

Production close to peak as Russian oil major looks internationally

Lukoil is forecasting stagnating oil production in Russial. The government plans huge investment in oil sector to boost production by 10% over the next twenty years, but oil majors say it’s not the matter of money.

Oil platform in the Gulf of Mexico (Image from smh.com.au) 04.09.2009, 19:28

Tax changes to stimulate crude output further

This weeks announcement of a giant oil discovery in the Gulf of Mexico has served to underline how important further discoveries will be to meeting future demand, with taxation changes in Russia seen as essential.

UK needs to look more closely at Russian investment

Published: 26 September, 2010, 10:22
Edited: 01 October, 2010, 15:07


Prince Michael of Kent says that British firms should look closer at investing in Russia, but the UK ambassador says Britain doesn’t water down legal issues for commercial expediency.

 
3 COMMENTS
Enrique September 27, 2010, 06:13 quote
0

Just in the area of auto parts Russia is the first or second country with more space for growth as given its GDP and income per head it should manufacture at least 3 million cars like Brazil, and actually it just manufactures 1 million. That target will be achieved during the next decade without doubt. At the same time, 2 million cars mean an impressive investment in infraestructure, both private and public, and in high-tech (from GLONASS to software) Skolkovo´s R&D project in different areas, from energy efficiency to software, also means (if the project is successful) dozens of new companies will be born to develop the result of that research, and those start-ups will need capital, both from Russia and from other nations like the U.S., the U.K., Germany or Japan. The Artic also means a huge investemtn developing the new routes from Europe to Asia, and exploiting the new energy fields. And given the fact of Russia´s $450 bn. currency reserves and huge reserves of oil, gas and gold, investors can receive a guarantee no other country in the World can offer.

Enrique September 27, 2010, 06:34 quote
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The eight years in which Putin was President where more than anything driven by the need to guarantee National Stability (political union of the Russian territory and economic consolidation) Increasing oil price during those years did help to achieve those goals. Once the Russian Federation has been consolidated as a cohesive territory with a huge head around the Central district (40 million people and 30% of Russia´s GDP) it is the turn for social and economic development as Russian consumers, engeneers, doctors and nurses have not had the attention they deserved during the years in which structural cohesion of the territory was the first goal. International rankings about competitiveness demonstrate that the Russian Federation is in a low level of technical development (telecom usage, software) and corruption is too high compared to competitors. The good point is that Russia is among the BRIC countries the one where those conditions can improve more. Russia has resources and now the political will to undertake the necessary reforms to make a competitive nation from Russia. Among emerging markets it is the nation with more room for improvement as its level of competitiveness doesn´t correspond to its actual income per head and financial resources. Russia has lost many years in political disputes between Russians, and between Russians and neighbors (still it is necessary to solve the problem of Georgia, which has to be a peaciful neutral and independent nation like Finland, Sweden, Austria, Switzerland or Ireland) But once Natioanl Stability has been broadly achieved, the ground for R&D development has been established.

Russian October 01, 2010, 10:21 quote
0

UK could warm up to Russia and start cooperating with it. It's in the interest of both countries.

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