Just ten years ago Russia’s aviation industry was all but grounded, but in the past five years the state has increased funding twenty times. Russian aviation industry is being cleared for take-off once again.
“Crisis or no crisis”, Russia’s budget must continue to fund social programs until acceptable standards of living are achieved, President Dmitry Medvedev said during an interview with Russia’s Channel One.
Iran says it will supply half the capacity for the Nabucco international gas pipeline. It will invite foreign firms to overhaul its decrepit gas infrastructure, but Nabucco's key shareholder says that will not be enough.
A week with focus on nanotechnology and Russian science has seen Rosnano, and AFK Sistema announce they will invest half a billion dollars in the production of microchips, using 90 nanometers technology.
Gazprom says gas exports are moving back towards pre-crisis levels, and that it is looking to take a long term approach to customer who may not require as much gas as they have contracted for in the short term.
The Head of Rusnano, Anatoly Chubais, says more innovation companies will come to market over the next few months, as his organisation looks to address framework issues for promoting Russia as a major high tech centre.
Gold has climbed to an all time high on renewed speculation about the U.S. dollar, after a report by British journalist Robert Fisk suggested key economies were planning to move away from the dollars reserve status.