The Moscow Times

Support The Moscow Times!

Contribute today

Gazprom Slashes Investment Budget for 2020

With three major pipelines set to come online, Russian gas giant set to slow down investment spending.

Europe Paying Russia Lowest Gas Prices in 15 Years

Gazprom’s quarterly results reveal plunge in revenues from gas exports to Europe.

Russia’s Top Food Retailer Fights Online Rivals with In-Store Tech

The X5 Retail Group is hunting down the world’s best shopping technology in its bid to stay ahead of the online competition.

Russia to Launch World's Cheapest Electric Car in 2020

Zetta will be Russia’s first electric car, with a market price of around $7,000.

Latest Russia-Ukraine Gas Talks Fail to Bring Breakthrough

Sides are battling to agree a new deal to deliver Russian gas to Europe through Ukraine before the end of the year.

Russian Petrochemical Giant Sibur Produces First Polyethylene From Its Own Feedstock at ZapSibNefteKhim

The flagship ZapSibNefteKhim facility just produced its first plastic granules from its own raw materials.

Russia Climbs Higher in National Brand Ranking

The Russian national brand is worth almost $1 trillion — up 16% on last year.

One in Three Russian Oil Fields Not Economically Viable

A huge inventory of Russia’s oil reserves has found one-third would not be profitable to develop.

Russian Inflation Falls to Central Bank's 4% Target

The Сentral Bank is expected to continue to lower rates with more cuts.

Russia’s Gazprom Buys Out Its Biggest Subcontractor

The deal implies that the way the Kremlin oversees mega-construction projects is changing.

Russian Government Values Oil Reserves at $1.2 Trillion

The valuation has almost doubled in the space of a year.

Putin to Decide on $40Bln in Tax Breaks for Arctic Oil

The Finance Ministry might try to block attempts to gather state support for Arctic development.

Russian Digital Major Yandex to Launch Investment Portal With VTB Bank

A previous project between Yandex and state-owned Sberbank fell apart.

Russian Car Sales Fall in August

Conditions may improve later in the year due to a government support program.

Russian E-Commerce Market Grows by 26%

Russians have embraced e-commerce, which is growing ten-times faster than the real economy and traditional retail.

Telegram Messenger Could Start Testing Crypto Platform in September

Telegram entrepreneur Durov raised $1.7 billion last March with one of the most successful ICOs of all time.

Russia's Rosneft and Finance Ministry Wrestle Over Arctic Funding

The Finance Ministry is insisting on a moratorium on oil and gas extraction support, while Rosneft is seeking support for its Arctic Vostok Oil project...

Russian Industrial Output Below Expectations at 2.8% Growth in July

Industry has been showing uneven and disappointing dynamics in the beginning of 2019.

Russian Watchdog Proposes Privatizing Aeroflot's Budget Airline Pobeda

A privatized Pobeda could focus on domestic destinations and bring down the famously expensive internal flights.

Russia Records Slightly Improved but Still Weak GDP Growth of 0.9%

Economists speculate that the pick up was due to an improvement in industry and an easing pace of contraction in the wholesale trade sector.

Net Capital Outflow from Russia Increases by 1.6 Times to $28Bln

The outflow was mainly due to banks' operations, which have steadily been paying down external liabilities and building up their foreign assets.

Fitch Upgrades Russia’s Rating, Returning It to 2014 Level

The rating agency cited Russia’s strengthened policy mix, low external debt and robust fiscal health as reasons for the upgrade.

Russian Carsharing Startup Delimobil Could Sell Shares in 2020

The carsharing market in Moscow reached up to 13,000 vehicles last year.

Zvezda Shipyard Loses Two Major Icebreaker Orders to Rival

The two ships will be the most expensive non-military vessels to ever be built in Russia.

Russia's Gazprom Could Sell More Shares in Autumn 2019

The gas giant is looking to cash in on a dramatic rally in its share price.

Russian Oil and Gas Output Continues Rising Despite Setbacks

Production increased despite the dirty oil crisis and a recent dip in gas exports.

Russia's National Welfare Fund Doubled in July to $124 Billion

The sudden rise was caused by the Minstry of Finance adding cash it siphons off from oil revenues.

Russia's Gross International Currency Reserves Top $530Bln

Moscow, buying gold, is seeking to reduce its dependence on the U.S. dollar.

Novatek Closes Arctic LNG-2 Deal with Chinese and Japanese Investors

The company intends to keep a 60% stake in the project.

Russia’s Current Account Sees Bumper Surplus in First Half

A large trade surplus and an increase in foreign direct investment account for the surplus.

Sberbank and Yandex E-Commerce Joint Venture May End in Divorce

The state-owned bank and leading tech company are unhappy after just one year.

Russian Car Market Keeps Declining in June, No Growth Seen in 2019

Recent reports also claimed that Russian car market could be shrinking faster than industry data suggests.

Russia's Government Prepares New KPI for SEO Managers

The changes seek tougher control over the implementation of President Vladimir Putin's May Decrees.

Ukraine Takes 'World’s Largest Grain Exporter' Title From Russia

Thanks to a bumper 70 million tons of grain harvest, Ukraine was able to push exports up to just shy of its official target.

Russian Oligarch Sells Stake in Shoe Retailer

The buyer of shares in Obuv Rossii has not been named, nor the value of the deal disclosed.

Russia’s Fixed Investments Decline in Annual Terms for Fourth Month in a Row

At the end of May 2019, only 20 percent of the spending planned for more than half of Russia's national projects had been executed.

Russia and Saudi Arabia Agree to Prolong OPEC+ Deal for at Least 6 Months

The decision has put Russia in the driver's seat in the 25-country coalition.

Russian Government to Support Local Car Market

The “First Car, Family Car” program will subsidize leases and loans.

Russian Media Group Rambler Considers Selling Shares

The listing is planned in two to three years.

Russia's Economy Shows Signs of Recovery in May

Official statistics indicate that retail sales are increasing.

Fitch Cuts Its Russia Growth Forecast for 2019 to 1.2%

The cut follows similar action from the World Bank and was prompted by weak first quarter economic performance.

China Eyes Russian Grain Terminal

Sino-Russian ties are deepening as China is ramping up its investment in Russian agriculture.

Russian Foreign Currency and Gold Reserves Hit $500Bln

Reserves are at their highest level since 2014.

Central Bank of Russia Worries About Housing Bubble

Mortgage lending is booming.

Moscow Luxury Apartment Prices Rising at World’s Second-Fastest Rate

The top end of the market is recovering after a five-year depression.

Russia Raises $2Bln for Investment in Artificial Intelligence

A state fund has tapped foreign investors to support domestic tech companies.

Putin Signs Off on Extension of Capital Amnesty

The special declarations are designed to promote Russian domestic offshore zones.

Russia’s Yandex.Market Teams Up With China’s JD.com

The e-commerce deal will strengthen Yandex.Market’s cross-border exposure.

IMF Advises Russia Not to Spend Its National Welfare Fund

Reserves have reached almost $500 billion.

Russian Regional Court Rules Against Detained Investor Calvey

A court in Amur has ordered the Baring Vostok fund to sell its stake in disputed Vostochny bank.

Russia and Ukraine Vie for Title of Top Grain Exporter

Both are forecast to export almost 50 million metric tons this year.

Russian Consumer Loans Ballooning Despite Central Bank Attempts to Cool Market

People are tired of the ascetic lifestyle.

Russia on Track to Remain World’s Biggest Grain Exporter

A solid harvest would minimize inflationary pressure.

Russian Oil Production Fell in April, While Gas Output Rose

Crude output is being driven by production cuts at integrated oil companies under the OPEC+ agreement.

Russian Watchdog Warns State’s Role in Economy is Growing

The new trends are evident at both federal and regional levels.

Steel Tycoon Mordashov Completes Acquisition of Supermarket Chain Lenta

Lenta minority shareholders had preferred a bid from rival retailer Magnit.

Russian Automaker AvtoVaz Makes First Profit in a Decade

Russians have rejected expensive foreign brands and returned to buying cheap locally made cars.

Conditions for Russian Manufacturers Improve in April

Production and client demand are growing.

Russian Reserves Hit Highest Level Since 2014

The figure is fast approaching $500 billion.

Russia’s Biggest Grain Freight Transporter Postpones Share Sale

RusTransCom was planning to list on the London Stock Exchange.

Russian Fast Food Operator Burger Rus Plans Share Sale

The company runs the Burger King chain in Russia.

Russia’s Central Bank Could Cut Rates Again, Analysts Say

Inflation has been lower than expected.

Russians’ Disposable Incomes Are Falling

Quality of life is deteriorating for ordinary people.

Russia’s Sberbank Eyes Media Group Rambler

Sberbank has also registered a trademark that would make it a one-stop shop.

Russia’s Latest Bond Auction Sets New Record

Demand for treasury bills is a barometer of foreign investors’ sentiment toward Russia.

EU Gas Directive Approval Could Delay Russian-Led Nord Stream 2 Pipeline

New rules will force Gazprom to hand over operation of the line.

German Investments in Russia Hit 10-Year High

Companies invested over €3Bln in 2018.

Yandex Has The Right to Sell its Stake in Joint Venture With Uber

Uber is preparing to sell shares to the public for as much as $100 billion.

Growth of Russian Online Retailer Wildberries Soars

Russians are doing more online shopping.

Russia’s HeadHunter Prepares to Sell Shares to Public

Recruitment site is aiming to raise $250 million.

Mobile Operator Considers Buying ‘Russian Netflix’

MTS is eyeing ivi.ru.

Russian Internet Companies Account for Growing Share of GDP

The internet economy zone is growing faster than any other sphere.

Russia’s Direct Investment Fund Plans Internet Projects in Turkey With Yandex

A Russo-Turkish investment fund has been created.

Russia’s Gold Reserves Hit Five-Year High

The Central Bank of Russia is boosting gold reserves and cutting the dollar share of its holdings.

Car Sales Recover in Russia in March After Stalling in February

Automakers are trying hard to attract new customers.

Russia's Polyus Gold Prepares to Sell 3.5% Stake for $400M

Russia’s equity market is slowly coming back to life.

Russia's Online Exports Could Reach $10bn in Seven Years

In 2018 online exports of Russian goods increased by 36 percent.