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Apple Reports Record Profits in Russia


Despite worsening relations between the United States and Russia, one of America’s most iconic companies reported soaring sales and astronomical profits in Russia last year. More

Russia’s Eastern Economic Forum to attract over $20bn in foreign investment


The third Eastern Economic Forum (EEF2017) aimed at luring businesses and attracting billions in international investment into Russia's Far East starts on September 6 in the city of Vladivostok. More

Top Sberbank analyst warns Russians’ real income won’t surge in the near future


It will take too long to return to the level of 2014, chief analyst of Russia’s top lender Sberbank Mikhail Matovnikov said. More

Kremlin considers crypto-ruble & use of blockchain in public service


Russia has plans to introduce its own digital currency running on blockchain technology, according to First Deputy Prime Minister Igor Shuvalov. More

Smurfit Kappa expands its operations in Russia


Packaging giant has acquired the Russian corrugated packaging company Soyuz. More

Russia pays off balance of Soviet Union's foreign debt


Moscow made the final payment on the remaining foreign debt inherited from the Soviet Union. Russia took on the debt after the other former Soviet republics refused to pay. More

Russia mines big data to monitor its economy


MOSCOW: Raw numbers no longer cut it for Russia’s central bank in its effort to keep up with the economy. Instead, the man running its research and forecasting wants to know how Russians really feel by mining “big data,” gathered from social media and online stores. The Bank of Russia has already developed a gauge of economic activity by scouring a news site, according to Alexander Morozov, who’s headed the department for almost two years after a decade as HSBC Holdings Plc’s economist in Moscow. More 

US visa changes to affect mainly Russian independent travelers, says authority


This problem will not affect package tours, the Association of Tour Operators of Russia said. More

Russian imports from countries outside CIS up 27% this year


Russia has drastically increased imports from non-CIS (Commonwealth of Independent States) countries through July this year, according to the data from Russia’s Federal Customs Service. More

Yandex.Taxi and Uber notify Moscow authorities about companies’ merger


Yandex.Taxi and Uber announced earlier that the companies agreed to combine their businesses in Russia, Azerbaijan, Armenia, Belarus, Georgia and Kazakhstan. More

Central Bank reports Russia’s foreign debt up 3%


Russia's Central Bank has no plans to raise its key rate at the next board meeting. More

Russian government may establish $1.7 bln digital economy fund


​The digital economy development program will be announced on July 5. More

Russia lifts further trade sanctions against Turkey


Russia on June 2 further relaxed trade sanctions placed on Turkey in the aftermath of the downing of a Russian fighter jet in 2015, as Anadolu Agency has reported.  More

Philippines, Russia firms sign $875 M business deals


MOSCOW – Close to $1 billion worth of business deals have been signed between Philippine and Russian firms following President Duterte’s shortened state visit here. More

Foreign businesses lack state guarantees for their investment in Russia


A report also says that innovation companies are not receiving proper guarantees of protection for the results of their scientific research. More

UN experts improve Russian economic outlook, note success of import substitution program


UN experts have improved their outlook for the Russian economy, forecasting the 1.5-percent GDP growth in 2017 in their mid-year update of the World Economic Situation and Prospects 2017 report. More

Garment-textile businesses seek to penetrate Russia


The garment-textile industry was predicted to get the most benefits when the free trade agreement between Việt Nam and the Eurasian Economic Union came into force in October 2016. More

German Business Hopes for Fresh Start With Russia


German companies are hoping for a new burst of momentum in trade with Moscow from Angela Merkel’s first Russian visit in two years.  More

Russia's GDP growth may reach 2.7% in 2018 — former finance minister


Growth of the Russian economy in 2018 may reach 2.7%, it will begin to accumulate in 2018, which will increase the incomes of the population by 25% by 2024, Head of the Center for Strategic Research (CSR) and former Finance Minister Alexei Kudrin said in an interview with TASS. More

Russia's new export positions show steady growth, expert says


New and unconventional export positions for Russia, such as corn, soybeans, confectionery and chocolate, are demonstrating steady growth, President of the Center for Strategic Research (CSR) Pavel Kadochnikov said on Friday at the Krasnoyarsk Economic Forum (KEF). More

AP Source: Exxon Seeks OK to Resume Russian Oil Venture


Exxon is asking the US government for approval to resume drilling in Russia that was blocked by sanctions, according to person familiar with the matter. More

Russia’s GDP for 2017 estimated at 2% — premier


Russia’s GDP is estimated at 2% this year, Prime Minister Dmitry Medvedev said at a government meeting Thursday. More.

Investing in Russia: Is the Risk Still Too High?


Russia’s recent military forays into Crimea and Eastern Ukraine — combined with reports of President Vladimir Putin’s complicity in the murders of Russian dissidents and the hacking of Democratic National Committee computers last year — have reinforced Russia’s reputation for instability, and Putin’s image as a power-hungry dictator. However, because U.S. President Donald Trump has spoken so admiringly about Putin, many observers expect the Trump administration to remove sanctions on Russia soon and to forge a closer relationship with the country. Could these rapidly evolving dynamics provide a significant new investment opportunity for U.S. companies in specific sectors? Or is Russia under Putin too risky a proposition for all but a handful of U.S. and foreign investors?  Morehttp://knowledge.wharton.upenn.edu/article/investing-russia-risk-still-high/

Russian companies retreat from London stock market


Russian companies are in retreat from London’s stock market, stung by lacklustre valuations and investors wary of geographical risk and poor corporate governance. More

Evaluation of Russia’s business environment by foreign investors


The survey «Evaluation of Russia’s business environment» conducted by Russian Union of Industrialists and Entrepreneurs (RSPP) and FleishmanHillard Vanguard saw significant improvement of Russia’s business climate assessment by foreign businesses. 23% of the respondents think it improved in the past year which is almost 4 times higher comparing to a year ago when this index was evaluated at 6%. More

Turkish business is anxious to return to the Russian market


As Moscow and Ankara rebuild relations following years of tension over Syria, Turkish businesses hope to return to the Russian market. The journey back, however, will be rather complicated, and former market niches might already be occupied. More

German entrepreneurs see pickup in Russia business


Following two years of recession, the Russian economy is slowly gaining momentum again. German businesses operating in the country are confident a rebound in bilateral trade activities is just around the corner. More

Minister says economic activity in Russia starting to recover


Economic activity in Russia is beginning to recover, Economic Development Minister Maxim Oreshkin said at a meeting with Russian President Vladimir Putin. More

A state monopoly on alcohol could begin with the country's perfume and pharmaceutical industries, a top government heath official has announced.


A top Russian government health official has announced that a state monopoly on alcohol could begin with the country's perfume and pharmaceutical industries. More 

Early to speak of Russia’s full economic recovery — expert


President of Russia’s Union of Industrialists and Entrepreneurs Alexander Shokhin considers it too early to speak of the country’s full economic recovery amid a substantial drop in investment. More

Financial recovery of Russian banking sector may take several years — Central Bank


A three-tier system of banking regulation in Russia makes possible to maximize satisfaction of demands of banking services consumers in Russia, Chairperson of the Bank of Russia Elvira Nabiullina told TASS in an interview. More

Russian Bailiffs Seize $85 Bln in 2016


Russia's Federal Bailiff Service (FBS) was tasked with seizing 9 trillion rubles ($153 billon) in 2016, mostly from indebted Russians. More 

Legal Money Laundering Scheme Exposes Russia's Bailiffs


Russian money launderers are exploiting government bailiffs to transfer dirty cash out of the country. A legal loophole may have already seen more than 16 billion rubles ($269 million) in surreptitious funds sent abroad, the Kommersant newspaper reported Friday. More 

Russia Monthly Economic Developments


  • The global economy gained momentum in the second half of 2016 supported by a rebound of growth rates in the US economy. US monetary policy tightening and the indication of continued tightening in 2017 put upward pressures on bond yields in other advanced
  • economies as well as in emerging and developing economies (EMDEs), and exerted downward pressure on EMDE currencies, including Russia’s.
  • The pressure on currency depreciation partly offset the appreciation impact on the ruble from the increase in the world oil-price in December. Russia’s economy remained in recession in the third quarter of 2016, yet a positive surprise came from the robust export growth, indicating possible advancements in the economy’s diversification. Inventory destocking reversed to inventories restocking, possibly indicating increased confidence in the domestic market.
  • In November, industrial production continued to strengthen as manufacturing expanded. Private consumption however retrenched as growth in real wages was not enough to stabilize consumption. Inflation continued to slow down in December with the 12-month consumer price index dropping to 5.4 percent in Decemberfrom5.8 percent in November.
  • From January-November 2016, the federal primary deficit at 1.6 percent of GDP, worsened compared to last year, as lower expenditures were unable to compensate for the drop in oil revenues. However, the non-oil deficit improved to 8.2 percent of GDP in this period (compared to 8.6 percent of GDP in the same period last year).
  • The financial sector seems to have stabilized, although asset quality continues to be weak, and demand for loans remains low. Consolidation in the banking sector continues -the number of banks in Russia has fallen from 733 in the beginning of 2016 to 623 as of January 17, 2017. More

Russian central bank sees inflation a bigger risk than Donald Trump, Brexit


Inflation is a bigger concern for the Russian economy than U.S. president-elect Donald Trump, according to the nation's central bank. More

Russian economy to grow steadily in next 5 years, but has capacity for more – IMF


Russia will see average GDP growth of 1.5 percent in the next five years, according to International Monetary Fund (IMF) Deputy Managing Director David Lipton. However, he told the Gaidar Economic Forum in Moscow the country should strive for faster growth. More

Russian Elite $29Bln Richer After Trump Election Victory


Russia’s wealthiest have seen their fortunes grow by $29 billion since the election of U.S. President-elect Donald Trump in November,Forbes magazine reported Tuesday. More

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  • 25-08-2017
    Apple Reports Record Profits in Russia
  • 25-08-2017
    Russia’s Eastern Economic Forum to attract over $20bn in foreign investment
  • 24-08-2017
    Top Sberbank analyst warns Russians’ real income won’t surge in the near future
  • 24-08-2017
    Kremlin considers crypto-ruble & use of blockchain in public service

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