MOSCOW, August 17. /TASS/. Despite the volatility of the ruble exchange rate, Russia’s financial and economic system is absolutely stable, Kremlin spokesman Dmitry Peskov told reporters. "We see some volatility, but I would like to remind the statements made by the heads of economic bloc that the financial and economic system in the country is absolutely stable," Peskov Continue Reading
MOSCOW, August 17. /TASS/. An initiative to tax windfall incomes from Russian mining and chemical sectors would lead to defaults of certain companies and slow down GDP, the Russian Union of Industrialists and Entrepreneurs warned on Friday. "Companies will face an overall crisis of creditworthiness and solvency," the Union cautioned. "Implementing the initiative can lead Continue Reading
HONG KONG /Xianggang/, August 17. /TASS/. Sanctions-hit Russuan aluminum giant Rusal, now formally registered at the Bailiwick of Jersey (part of the Channel Islands archipelago), is examining the possibility of re-registering the company in Russia, the company said in a statement released via the Hong Kong stock exchange on Friday. "At a meeting of the board of directors Continue Reading
TOKYO, August 17. /TASS/. A delegation of Japanese businessmen and officials has set off on a business mission to Russia’s Southern Kuril Islands on Friday after a one-day delay, Japan’s Kyodo news agency reported. A ship carrying the delegation was to leave the Japanese port of Nemuro in the Hokkaido prefecture late on August 16. However, the departure was delayed due to Continue Reading
MOSCOW, August 16. /TASS/. The Russian Ministry of Economic Development has a negative attitude towards the proposal made by Russian presidential aide Andrei Belousov on collection of extra revenues from chemical and metals companies to the budget, a source in the financial and economic block of the government told TASS on Thursday. "The position of the Economic Continue Reading
TASS, August 16. Construction of the Northern Latitudinal Railway (NLR) - a new railway line in the Yamalo-Nenets Autonomous Region - will help in improving situations in the region’s transport and social spheres, the Region’s Acting Governor Dmitry Artyukhov told TASS. Earlier reports said the Russian government had ordered the railway would be built under a concession Continue Reading
MOSCOW, August 15. /TASS/. The Russian Ministry of Industry and Trade is holding consultations with metals and chemical companies on potential collection of extra revenues for the federal budget. The ministry will prepare its position soon, the ministerial press service told TASS on Wednesday. "The Ministry of Industry and Trade is holding consultations within the Continue Reading
Sberbank central office © Stoyan Vasev/TASS MOSCOW, August 15. /TASS/. Sberbank is recognized as the most expensive Russian brand. Its value surged 18% annually to 670.4 bln rubles ($10 bln), Brand Finance consultancy says in its annual review. It is followed by Gazprom and Lukoil. Gazprom’s brand value rose by 5% to 320.8 bln rubles ($4.8 bln). Lukoil’s brand value lost Continue Reading
© AP Photo/Wong Maye-E MOSCOW, August 15. /TASS/. Russian Presidential Spokesman Dmitry Peskov has told reporters that no confirmation had been received yet of Kim Jong-un’s participation in the Eastern Economic Forum (EEF) in Vladivostok. "You know that an opportunity (to take part in the Eastern Economic Forum in September - TASS) was provided. The forum is open to all Continue Reading
BRUSSELS, August 15. /TASS/. Big EU companies are not ready to oppose US sanctions on Iran despite the European Union’s decision to neutralize the extraterritorial effects of US sanctions, Russian Permanent Representative to the EU Vladimir Chizhov told reporters on Wednesday. According to him, the EU’s move "was made first and foremost in the interest of the European Continue Reading
MOSCOW, August 15. /TASS/. South Korean President Moon Jae-in on Wednesday suggested setting up the seven-nation railway community of Northeast Asian countries, with the participation of Russia, the United States and other countries, the Yonhap news agency reported. In a speech to mark the 73rd anniversary of Korea's independence from the 1910-45 Japanese colonial rule at Continue Reading
MURMANSK, August 14. /TASS/. Implementation of the national Digital Economy program may need slightly above 1 trillion rubles ($15 bln) in five coming years, Russia’s Deputy Prime Minister Maxim Akimov told TASS on Tuesday. "I think the case in point can be the amount over 1 trillion rubles ($15 bln) for five coming years, considering that we are going through this season Continue Reading
MURMANSK, August 14. /TASS/. The Russian Ministry of Transport worked out a package of response measures in case Ukraine decides to halt railway and bus service with Russia, Transport Minister Yevgeny Ditrikh told reporters on Tuesday. "The Transport Ministry has discussed this matter and our possible response measures in connection with probable making of decisions of Continue Reading
MOSCOW, August 14. /TASS/. Gazprom sent a petition to Poland’s antimonopoly regulator UOKiK for termination of the antimonopoly probe against participants in the Nord Stream 2 gas pipeline construction, the company said on Tuesday. "On June 15, 2018, Gazprom sent objections to the position of the Polish antimonopoly authority and petitioned termination of the antimonopoly Continue Reading
© Ruslan Shamukov/TASS MOSCOW, August 14. /TASS/. Nord Stream 2 AG, the operator of the Nord Stream 2 gas pipeline project, obtained a permit for laying the subsea segment of the gas line in the territorial sea of the Russian Federation, the company says on Tuesday. The permit was issued by the Russian environmental regulator and covers a 114 km gas pipeline segment on the Continue Reading
© Sergey Bobylev/TASS MOSCOW, August 13. /TASS/. Sberbank, the largest Russian bank, was recognized as the best in Central and East Europe in the sphere of innovations use in operations, press service of the financial institution told TASS on Monday, referring to organizers of the Global Finance magazine’s international award. "We got an award in the nomination of the Most Continue Reading
In a new series of video blogs, John Bonar reviews the past weeks news in respect of Russia and business affairs and gives his take on events. This week he looks at the latest round of US sanctions and asks what it means for the local Russian property market and talks about the alliances being formed as a result of the economic warfare being waged by Washington, This video Continue Reading