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21.10.2009, 20:18

Sviyazinvest to merge regionals with Rostelecom

Telecoms giant, Sviyazinvest, has approved a plan to merge its regional fixed line operators with Rostelecom by May 2011 in a move it expects to bring more than $1 billion in synergies.

21.10.2009, 11:10

VTB posts 1H 2009 Net Loss of 31.5 billion Roubles

Russia’s second largest bank, VTB, has posted a 1H 2009 Net Loss of 31.5 billion Roubles under IFRS.

The Volkswagen headquater in Wolfsburg, northern Germany (AFP Photo DDP / Nigel Treblin / Germany Out) 20.10.2009, 22:51

VW shows how to take Russian carmaking forward

While Avtovaz has been pushed to the brink by a 50% sales slump during the economic downturn, German giant, VW, has been pumping huge investment into Russia with big plans to expand.

24.04.2009, 23:17

Ford Russia chief puts price focus on locally made vehicles

The head of Ford Russia has defended the company's decision to raise prices by as much as a quarter from next month.

23.10.2009, 08:36

Russian companies beat path to Hanoi as Vietnamese market beckons

Dozens of Russian companies are in Vietnam in a bid to win business from its traditional partner, China, with the energy sector seen as showing particular promise.

RIA Novosti Photo 04.12.2009, 19:37

Kamaz looking to turn corner

Russian Truck maker, Kamaz says it’s prepared to give analytical support to troubled car maker Avtovaz, after Avtovaz owner Rostechnologies called for them to move into a single holding.

17.03.2010, 10:16

Carmakers look for local parts supplier to come up to speed

International car manufacturers have the bodies - they just need the parts. That's the message from global car makers working in Russia, who are struggling to find the right quality and price.

RIA Novosti 12.05.2010, 11:19

Mine explosion could cost more than 5 billion roubles

The explosions at the Raspadskaya coal mines in Mezhdurechensk which have claimed the lives of at least 60 people, could cost Russia more than 5 billion roubles ($165 million).

13.10.2010, 22:42 2 comments

Drug dealers and prostitutes can improve Russia’s GDP – officials

The State Statistics Service has come up with an inventive way to improve Russia’s economical performance: by stretching the GDP with illegal revenues.

12.02.2010, 19:38 11 comments

Estonia braces for change as Russian exports move from home

Russia is renovating its railroads and sea ports - all part of plan to bypass transit countries when exporting energy products. That means neighbours like Estonia are looking to move from stable cashflows.

Staying in vogue through an economic downturn

Published: 21 October, 2009, 21:40
Edited: 22 October, 2009, 10:52

The Tatyana Parfyonova fashion house

The Tatyana Parfyonova fashion house

TAGS: Manufacturing, Markets, Russia and the global economy, Economy


Designer fashion is usually an industry hit hard and first by any economic downturn. With the Russian Fashion Week concluding in Moscow Business RT spoke with Tatyana Parfyonova about how her fashion house has coped.

The Tatyana Parfyonova fashion house has developed a niche for corporate fashions, after being commissioned to design a uniform for the St. Petersburg International Economic Forum. She says that despite the downturn there is still latent demand and that the crisis has simply motivated her to work harder.

“I started to work longer hours to get the same results as, say, a year ago, but a demand is still there. And generally, I think, the only way to fight the crisis is to work.”

She adds that across the industry there is a sense of working harder and focusing more closely on customer needs, noting “I think, people became more serious and attentive to their businesses and more careful to their clients.”

While the fashion industry is a massive money spinner for countries like France and Italy, Parfyonova believes there is greater scope for the government to provide support in Russia, saying there is potential for the Russian fashion industry to generate much more.

“While in other countries, in France or Italy, for example, such fashion events are supported by the Government, here in Russia the authorities seem not to care at all about this. If some governmental supports appear in our country, really talented young designers will get the opportunity to receive professional education abroad. Furthermore, it would create new jobs, bring more tax money.”

 

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Dmitry Medvedev gestures while speaking during a meeting with businessmen at the Kremlin in Moscow on October 21, 2009 (AFP Photo / RIA Novosti / Kremlin Pool / Dmitry Astakhov) 21.10.2009, 21:23

President and business push for accountability on state corporations

President Dmitry Medvedev met business leaders to hear feedback on the effect of anticrisis measures taken so far, and found new ideas to drive the economy after the crisis.

21.10.2009, 22:04

Rebounding Russia returns as investment target

Further signs of an economic rebound are pushing Russia back into the limelight as an investment destination as the Russian-British investment forum looked to get bilateral economic ties back on track.