Tag Archives: Business

Presidential aide Arkady Dvorkovich has reportedly expressed hope that the rearmament of Russia’s army, which will cost $681 billion, will stimulate the growth of the country’s industry in its entirety.  Bloomberg reports that in April Russian manufacturing grew at the fastest pace in more than a year as output and employment rose and new orders [...]

Outgoing President Dmitry Medvedev has announced he wants to put a stop to ‘mobile slavery’ by introducing laws which would oblige mobile providers to let customers keep their cell-phone numbers when changing providers.  The Moscow Times reports that despite a period of stops and starts, Deputy Prime Minister Igor Shuvalov has maintained that privatization will [...]

The Financial Times reports on how Russia’s privatization plans, drawn up by outgoing President Medvedev, are provoking faction clashes within the Kremlin.  The president has signed a bill ratifying an international treaty which protects workers from employers’ insolvency, making Russia the 20th country to do so.   Rusnano has invested nearly $40 million in NeoPhotonics Corp, [...]

Following meetings between Chinese Vice Prime Minister Li Kequiang and Prime Minister Putin, it has been reported that Russian and Chinese delegations have signed 27 contracts worth around $15 billion.   Tycoon Oleg Deripaska’s Basic Element has apparently agreed on a $1 billion cooperation deal with China’s state-owned North Industries Corporation that will incorporate construction of [...]

The Economic Development Ministry has announced that it expects the country’s economy to grow 3.4% this year.  Goldman Sachs believes that Russia must move to curb inflation and overhaul its financial markets if it wishes to compete with fellow emerging markets for international investor interest.  On the cusp of Vice-Premier Li Keqiang’s visit to Moscow, [...]

According to Bloomberg, investors still believe that political instability and the possibility of protests are a factor when considering Russian risk.  Why Putin’s luxury tax is unlikely to redress the imbalance between rich and poor in any meaningful way.  Having sold his stake in Megafon this week, billionaire Mikhail Fridman apparently wants to raise the [...]

Outgoing President Medvedev has repeated his promises to decrease the state role in the economy, improve Russia’s business climate and tackle graft.  A poll taken at a Vedemosti business breakfast has found that nearly 33% of the attendees picked ‘systemic and mundane corruption’ as the most serious problem.  An officer of the Russian Interior Ministry’s [...]

Finance Minister Anton Siluanov has told the press that Russia’s state budget deficit forecast for 2012 has been lowered to 0.3% of GDP from an earlier estimated 1.5% of GDP, due to higher prices for oil and increased tax revenue.  Decentralization, investment growth, reform: ex-Finance Minister Alexei Kudrin has published an article in the journal Economic [...]

According to Forbes’ annual rich list, Vladimir Lisin has fallen from the top spot in the list of Russian billionaires as a drop in steel prices reduced the value of his main asset, Novolipetsk Steel.  Facebook investor Alisher Usmanov, who made his fortune in metals and telecoms, has stolen the top spot.  Thanks to strong demand in its key [...]