Support The Moscow Times!
Contribute today

Articles by Irina Filatova

Moldova Asks Moscow to Reconsider Booze Ban

Moldova's prime minister on Wednesday asked Russia to join in talks about reversing Moscow's ban on imports of Moldovan wine.

Bach Becomes IOC Head Amid Sochi Olympics Controversy

The International Olympic Committee (IOC) on Tuesday elected German fencing champion Thomas Bach as its new president as tensions remain high around...

Report Sees Possible Economic Upturn

The Russian economy might see a slight pickup by the end of this year driven by expanding investment and a possible easing of monetary policy by the...

Syria and BRICS Mark Start of G20 Summit

A military strike in Syria would have a destructive effect on the global economy, sending oil prices up, China warned in a gesture of support to President...

Putin Doesn't Rule Out Support for Syria Strike

As the leaders of the world's major economies are flocking to St. Petersburg for the G20 summit, scheduled to begin Thursday, President Vladimir Putin...

Moscow Behind European Capitals in Terms of Life Quality

Despite the government's ongoing efforts to lure foreign investors to Moscow, the city remains behind most European capitals in terms of the quality...

Housing Affordability Remains Elusive

Despite reports of steadily increasing personal income, saving up to buy an apartment remains a major challenge for most Russians as housing here...

Uralkali Owner Wanted, Faces 10 Years in Prison

Billionaire Suleiman Kerimov, the largest shareholder of Russian potash giant Uralkali, has been placed on an international wanted list and faces up...

Belarus to Prosecute Uralkali Owner

The conflict around Uralkali's breakup with its Belarussian partner took another dramatic twist Thursday after Minsk announced their intention to open...

Uralkali Arrest Ratchets Up Moscow-Minsk Tension

The Russian Foreign Ministry warned Tuesday that detention of the chief executive of potash giant Uralkali in Minsk could cause Moscow's relations...

Road Project Brings Hope and Problems

The Kremlin's move to revive ambitious Luzhkov-era plan to build a gigantic circular highway 50 kilometers beyond the Moscow Ring Road is bringing...

Sberbank to Finance Commodity Trading

Two major traders on Thursday welcomed Sberbank as a new player in financing commodity supplies after the lender announced its plans to get on the...

Kremlin Aide Threatens End of Free Trade With Ukraine

Russia could annul a free trade regime with Ukraine and scrap joint projects in a number of industries if Kiev signs an association agreement with...

Gorky Park Prepares for Another Radical Makeover

Groups of workers squatting on their haunches surrounded by piles of sand and broken tarmac is a common picture for downtown Moscow these days.

Russian Investors Flock to Virgin Islands After Cypriot Crisis

The British Virgin Islands accounted for 47 percent of total investments by Russian residents abroad in January through March.

Sovereign Funds to Finance Road

The Russian Direct Investment Fund could provide $1.8 billion for the project, and foreign sovereign funds will also take part.

Economic Growth Slows Again, Sparking Recession Fears

Russia has recorded another quarterly decline in its economic growth rate, fueling concerns about a possible recession and casting doubt on President...

Sobyanin Daughter's Apartment Triggers Controversy

A seven-story apartment complex on a quiet Moscow street just a five minute walk from the Cabinet building is widely known as the White House, not...

Onexim Mulls Buying Stake in Svyaznoy

Billionaire Mikhail Prokhorov's Onexim Group is considering buying a 50 percent stake in cell phone retailer Svyaznoy in a deal that would allow Onexim...

Hungarian Trade Office Deal Probed

Investigators opened a criminal case into the purchase of a former building of the Hungarian trade office in downtown Moscow by the Regional Development...

37 Businessmen Challenge Kremlin by Openly Backing Navalny

More than 30 business owners and top executives have come together in support of opposition mayoral candidate Alexei Navalny in a country where the government...

TV Launch Prompts Shakeup at Izvestia

The newspaper Izvestia, one of the oldest brands in Russia's media industry, is facing its second significant reshuffle in two years following an announcement...

Expats Shun Housing Despite Lower Costs

Foreigners buying high-end apartments in Moscow have to pay the lowest associated costs compared with other world capitals, according to a survey released...

Owners of Movie Rights Have No Luck With New Anti-Piracy Law

Hours after a new law targeting online piracy went into effect last week, it became clear that it was having problems as claimant after claimant was...

Skolkovo Foundation to Get $15Bln in 2013-2020

Despite the controversy around the ongoing corruption probe into the Skolkovo Foundation, it will get over 500 billion rubles ($15 billion) in state...

IT Firms See Risks in State Regulation

A highly contested law allowing the courts to block online resources suspected of having pirated content came into force on Thursday amid claims...

Potash Giants End Alliance, Market in Turmoil

The breakdown of Uralkali's joint venture with Belaruskali has been called a "revolution" on the potash fertilizer market.

Sobyanin Plans Largest Park in Europe Amid Mayoral Race

As the mayoral race came into full swing, acting Mayor Sergei Sobyanin has promised that Moscow would get the largest city park in Europe.

Capital Inflow Slows Following Navalny Verdict

Foreign investors have been wary of purchasing Russian securities in the wake of the verdict against whistleblower Alexei Navalny, with capital inflow...

Moscow Ranked Second Most Costly City for Expats

A popular post that appeared in Russian social networks a while back is likely to hit home with anyone who has purchased substandard groceries in Moscow...

G20 Ministers Focus on Tax Evasion, Stimulus Measures

The fight against tax evasion by multinational corporations and measures to ensure recovery amid the global economic turbulence came into the limelight...

Navalny Sentence a Blow to Business

The Russian stock market reacted pessimistically Thursday following the ruling of a regional court that sentenced opposition leader Alexei Navalny to five...

Finance Ministry Wants to Limit Welfare Fund Use on Infrastructure Projects

The Finance Ministry on Wednesday criticized President Vladimir Putin's idea to use up to half of the $86.5 billion stored in the National Welfare...

Medvedev Seeks Higher Domestic Demand for Steel

Prime Minister Dmitry Medvedev on Tuesday pushed for boosting domestic demand for iron and steel amid the global economic turbulence and better protecting...

Expectations High for New Moscow One Year On

A little over a year after the territory of the city of Moscow more than doubled in size, real estate prices are stabilizing, and expectations for improving...

Snowden Calls Meeting at Sheremetyevo Airport

Former U.S. intelligence analyst Edward Snowden on Friday invited representatives of Russian and international human rights organizations and lawyers...

Tax Holiday in the Works for Small Entrepreneurs

Individual entrepreneurs starting businesses from scratch are soon likely to be exempted from paying taxes for two years, after Prime Minister Dmitry...

Audit Chamber Says Evraz Unit Owes $600M of Tax for Undermining

A coal mining subsidiary of steel giant Evraz owes the federal budget over 20 billion rubles ($600 million) in taxes, an investigation by the Audit...

Rising Financial Literacy among Russians is a State Priority

The name Lyonya Golubkov is well-known to many Russians from the 1990s television advertising campaign that encouraged millions of people to put their...

Audit Chamber Says Trade Discrimination Against Russia Still a Problem

Despite its accession to the World Trade Organization last year, Russia has a long way to go before it benefits from membership, with the high level...

Island Properties Bring Customers in From the Cold

A new real estate trend sees wealthy Russians purchasing their own floating islands, but with prices from $10 million, some opt to rent.

Laboring in Sochi No Slice of Heaven

The problems on Ruslan Zokhidov's mind are not typical for a young man of his age: he is the least likely person to be found nattily dressed at a...

Putin Fields Questions in Nationwide Call-In Show (Blog)

Moscow Times reporters ran a live blog on President Vladimir Putin's 11th televised call-in show, the first since he returned to the presidency last...

Sberbank Forum Assembles Old Friends and New Problems

Personal memories mixed with hot discussions about the prospects of the global economy Thursday as high-profile visitors like former British Prime Minister...

Sale of VTB Stake for $3Bln Expected in Months

The government will proceed with its ambitious privatization plans despite challenging market conditions, Federal Property Management Agency chief Olga...

Cabinet Under Fire After Putin Threatens Reshuffle

The Cabinet came under attack from State Duma deputies Wednesday as Prime Minister Dmitry Medvedev addressed the lower house of parliament for the first...

Moscow and Washington Find Commonality in Real Estate

Moscow has debuted on the list of world capitals with the largest amount of quarterly commercial real estate investment after it saw a total of $3...

Q&A: Ritz General Manager Allan Federer Enjoys Moscow Reception

Sitting in a quiet restaurant at his hotel a stone's throw from the Kremlin, Allan Federer pours himself green tea from a snow-white ceramic teapot...

Steel Market Could Begin Recovery This Year

Hit by Europe's debt crisis, global steel demand is likely to start recovering this year driven by emerging economies like China and Russia, with the pick...

Russian Post Seeks Customs Help Clearing 500 Tons of Parcels

Russian Post demanded on Tuesday an increase in the number of customs officers in airports and its offices handling international mail after about...

Topless Women, Gay Rights Activists Greet Putin in Europe

President Vladimir Putin's visit to Europe made headlines worldwide on Monday after hundreds of protesters took to the streets in Hanover and Amsterdam...

Putin to Open Russian Pavilion at Hanover Show

Foreign investors attending the opening of the Russian pavilion at the international commercial exposition that kicks off in Hanover, Germany on Monday...

Sochi Hotel Room Seekers Come in Last Place

The paint on the walls of similarly designed hotels surrounded by the picturesque Caucasus Mountains at the Rosa Khutor ski resort built by billionaire...

Sberbank, VTB-24 Brush Aside Cypriot Crisis Concerns

Sberbank and VTB-24 dismissed concerns Thursday that the Cypriot crisis could negatively affect their financial performance amid reports that big clients...

Medvedev Calls Cyprus Plan 'Absurd'

Prime Minister Dmitry Medvedev on Thursday intensified his criticism of a plan by European financial authorities to rescue the Cypriot economy, labeling...

Cypriot Finance Minister Departs as Deadline Looms

Cyprus failed to strike a deal to secure financial aid from Moscow, with the delegation lead by Finance Minister Michalis Sarris heading home Friday...

Government Finalizing Luxury Tax Plans

The government has proposed that a tax on luxury vehicles be calculated based on the car's price and brand, not its engine capacity, as had been initially...

Cypriot Finance Minister in Moscow to Propose Assets-for-Bailout Deal

Cypriot Finance Minister Michalis Sarris plans to offer a wide range of benefits to Russia in exchange for its help to rescue the island's financial...

Russian Lenders Face Billions in Losses Due to Cypriot Levy

The proposal by the Cypriot authorities to introduce a levy on the country's bank deposits as part of a plan to bail out its economy drew harsh...

Q&A: Ambassador McDonagh Well-Versed in Trade and Spirit

While Irishmen around the world are looking forward to the St. Patrick's Day bash on Sunday, Philip McDonagh is preparing for a busy weekend in Moscow...

Russia Remains in Last Place for Public Trust

The level of trust in government officials and business executives remains dramatically low in Russia, with most residents saying they are more inclined...

De Beers Ex-CEO Becomes Norilsk Chairman

The shareholders of Norilsk Nickel reached a landmark deal Monday, with a former De Beers chief executive being elected as the nickel producer's chairman...

Glass and Steel Loom High Above Moscow Countryside

If you own a dacha in the picturesque countryside near Moscow you might find yourself surrounded by mountains of glass and concrete in the future...

Czechs Start Construction of $910M Business Park in Expanded Moscow

A Czech development group on Wednesday announced plans to invest more than 700 million euros ($910 million) in a project to build a business park in expanded...

Severstal 2012 Net Down 63% to $762M

Billionaire Alexei Mordashov's Severstal saw a 63 percent drop in net profit last year to $762 million as a result of weak metal prices and a decline...

Unrest Looms on RusAl Optimization Plans

The world’s largest aluminum-maker, RusAl, announced plans Monday to cut output by 7 percent this year amid oversupply and a drop in metal prices, a...

Rostelecom Gains on Malofeyev Stake Sale to Rotenberg

The shares in Rostelecom gained more than 2 percent at the beginning of Friday trading outperforming the benchmark MICEX index on the news that billionaire...

Aeroflot Won't Take Baby on Board

An eccentric move by billionaire Alexander Lebedev resulted in a wave of bloggers' irony Wednesday after the banker nominated his 1-year-old son to the...

Putin Ally Chemezov Likely to Join Norilsk Board

Russian Technologies head Sergei Chemezov is likely to get a seat on Norilsk Nickel's new board of directors after majority owners agreed to support...

Largest Commercial Estate Deal Inked

The domestic commercial property market received a massive cash injection with the sale of one of Moscow's largest shopping centers, Metropolis, to Morgan...

Kremlin in Talks on LNG Exports to China

Russia is negotiating to supply liquefied natural gas to China, and the two countries expect to reach a long-coveted gas cooperation agreement within...

Bastrykin Calls for Creation of Financial Police

First there was the police. Then the traffic police and the tax police. Now Russia's top investigator wants to establish the financial police.

IMF More Upbeat Than Medvedev on GDP Growth

The International Monetary Fund took an optimistic stance at Russia's prospects Wednesday, saying that its economy could demonstrate a faster pace...

Dvorkovich Denies Resignation Rumors

Deputy Prime Minister Arkady Dvorkovich got in the spotlight Tuesday amid rumors that he might have to resign in the wake of the recent scandals in the...

OECD Accession Progressing Slowly but Surely

The head of the Organization for Economic Cooperation and Development promised Friday that accession to the club of the world's most economically...

$7Bln Business Travel Market Set to Boom

The country's $7 billion market for business travel is likely to grow over the next few years, with domestic and foreign companies saying their executives...

Even Russians Need a Visa for Sochi

If you're the lucky owner of tickets for the most popular competitions at next year's Winter Olympics in Sochi, then you must be a holder of a Visa...

Public Satisfied with State's Efforts to Attract Foreign Investment

One-fifth of Russians believe that doing business in the country is easier for foreigners than for local businessmen, a survey has revealed.

Probe Opened Over Yves Rocher Disclosure in Navalny Case

The Investigative Committee opened a probe against Novaya Gazeta reporter Irek Murtazin, claiming that he might have revealed secret details of the investigation...

Internet Leads in Advertising Growth

The amount spent on advertising in 2012 reached 297.8 billion rubles ($9.9 billion), up 13 percent from the previous year, according to figures released...

In Show of Force, Putin Sacks Olympics Official

The countrywide celebrations marking the one-year countdown to the start of the Winter Olympics in Sochi were overshadowed Thursday by a high-profile...

Sochi Scorecard: Lots of Progress, But Lots to Be Done

An inflatable 8-meter brown bear floating off into the Moscow sunset followed by applause from the stands during the closing ceremony of the1980...

Mosinzhstroi Seeks to Tap into Indian Market

Moscow's engineering and construction giant Mosinzhstroi is bidding for the right to build a $930 million elevated metro line in India in an effort...

No Obama Visit Planned Before G20, Kremlin Says

The Kremlin said Friday that it does not expect U.S. President Barack Obama to visit Russia before the Group of 20 summit in September.

Officials Call for Budget Discipline

Finance Ministry and Central Bank officials on Thursday called for strict adherence to existing budget policy, saying the measure is critical to achievement...

Qiwi Lands in Manhattan

A new wave of Russian immigrants has landed in the United States, but they represent a technical accomplishment and not huddled masses.

Sharonov Reports Progress for Business

Moscow made significant progress over the past year in easing conditions for doing business, a result that is expected to upgrade Russia in the World...

Potanin Asks Putin to Exempt Norilsk from Duties

Norilsk Nickel's new chief executive, Vladimir Potanin, asked President Vladimir Putin to exempt his company from export duties to free up approximately...

'Millionaire' Doctors Part of Solution to Demographic Problem

A total of 8,000 doctors in Russia became ruble millionaires over the last two years, as the government seeks to attract young specialists to rural...

Q&A: Nenad Pavletic Follows A Very Long Term Plan

Hit by a severe heat wave in the summer of 2010, Russia did not seem very welcoming to Nenad Pavletic, who had come to Moscow to take a new position...

Report: Kudrin on Shortlist to Become Central Bank Chairman

President Vladimir Putin is considering three candidates to replace Central Bank head Sergei Ivgnatyev, whose final term in office expires in June,...

Aeroflot Begins Wi-Fi Rollout

Aeroflot will begin to install wireless Internet in its jets this year as part of its wide-ranging program to improve service, the state-controlled...

Medvedev to Address Various Scenarios at Davos

Russian officials visiting the World Economic Forum 13 years ago were puzzled by U.S. journalist Trudy Rubin's famous question about the newly elected...

Davos Calls for Efficient State

Improving the work of the government and fighting corruption should be key priorities on Russia's reform agenda for the next few years, participants...

OECD Chief Says Accession Is a Learning Process

Accession to the Organization for Economic Cooperation and Development provides a good chance for Russia's decision-makers to identify weaknesses...

World Bank Praises 'Doing Business' Progress

Russia is on the right path to radically improve its business environment and move up 100 notches within the next five years in the global rankings...

Medvedev Wants Economy to Grow 5% Annually

Prime Minister Dmitry Medvedev on Wednesday urged the Cabinet to ensure stable economic growth of at least 5 percent a year in the near future, a goal...

Moscow Expansion Spurs Residential Market

Growing housing stock caused by Moscow's territorial expansion resulted in the city seeing an increase in the number of deals involving existing residential...

Firms Fail to Supply Arms Worth $474M

A number of defense suppliers failed to deliver weapons worth a total of about 14.5 billion rubles ($474 million) to the country’s armed forces this...

Putin Calls on AAR to Invest TNK-BP Proceeds in Russia

President Vladimir Putin on Thursday called for the billionaire owners of the Alfa-Access-Renova consortium to invest the $28 billion cash they will get...

Sberbank Partners with Yandex to Enter E-Commerce Market

Sberbank signed a deal Wednesday to buy 75 percent of Internet company Yandex's electronic payment system, Yandex.Dengi, for $60 million, entering...

Kudrin Lashes Out at Medvedev's Cabinet

Former Finance Minister Alexei Kudrin on Tuesday castigated Prime Minister Dmitry Medvedev's Cabinet as inefficient, but he rejected speculation that...

Capital Flight Calculation Open for Debate

The real size of capital outflow last year was actually half as much as reported, and only reached about $40 billion, with the figure having no correlation...

High-Flying Food Is an Art and a Business

As domestic and international airline travel booms in Russia, so does demand for high quality locally supplied on-board food.

State Mulls Investing Sovereign Fund in Infrastructure

President Vladimir Putin's proposal to channel part of the National Welfare Fund into infrastructure projects could be a good alternative to using...

Putin Targets Transparency of Offshore Companies

President Vladimir Putin expanded Russian vocabulary Wednesday, as he called for “deoffshorization” of the country's economy — a measure that he...

Norilsk Nickel Deal Revised

Billionaire Roman Abramovich agreed to buy 5.87 percent of shares in nickel and palladium giant Norilsk Nickel for approximately $1.5 billion from its...

Ministry Mulls Replacing VAT With Sales Tax

The Economic Development Ministry is looking into replacing value added tax with a sales tax to reduce the burden on business, an official said...

Universal Sightseeing Pass Upgrades Tourism Appeal

Moscow will become a tad friendlier to foreign tourists this month, as it joins other world capitals like London and Paris that offer a sightseeing...

G20 Agenda Includes Revising Voting Rules

A decision on reforming the International Monetary Fund's distribution of voting quotas among member states is likely to be made next year, as it's...

Norilsk Feud Over as Abramovich Rides to the Rescue

Majority owners of Norilsk Nickel said Tuesday that they had agreed to settle a four-year feud over control of the nickel giant, with billionaire Roman...

Kalashnikov Maker Finding Success in America

The producer of the legendary Kalashnikov rifles, Izhmash, is betting on an increase in exports of nonmilitary weapons, which skyrocketed in the...

Medvedev Assures France on WTO Behavior

Russia and France signed an agreement Tuesday on creating a council to develop economic cooperation amid growing criticism from the European Union...

Foreign Trade Offices Get New Impetus

Identifying a British Embassy vehicle in Moscow is an easy task for those who love history: They all have license plates with the number 001, signifying...

VTB's Kostin Ranked Top Earner

Head of state-controlled lender VTB, Andrei Kostin, was ranked the highest paid executive in the country, having earned about $30 million last year...

Ford Sollers Suspends Work Amid Strike

Carmaker Ford Sollers suspended manufacturing at its Vsevolzhsk plant near St. Petersburg on Friday amid a strike by employees.

Metrics Being Employed to Reduce Bureaucracy

Prime Minister Dmitry Medvedev on Thursday approved a list of metrics to track the efficiency of federal and regional officials in a move to improve...

Sberbank Eyes $800M Medical Investment

Sberbank might invest up to $800 million to build a medical center in Moscow as part of a $1.5 billion hub presented Wednesday to upgrade the country's...

Intrigue Thrives in Kalashnikov’s Town

Regional authorities might have orchestrated recent accusations by arms maker Izhmash employees against the company's management in order to get control...

Izhmash Weapons Factory Will Have to Wait for New Leader

Venerable weapons manufacturer Izhmash is embroiled in an extraordinary public clamor by factory old-timers concerned about management efficiency, while...

Report: State Role in Economy to Grow

Despite having announced ambitious privatization plans, the government might still seek to expand its role in the economy through state-owned companies...

Moscow Overtakes London With Europe's Highest Tower

Driving around Manhattan in early 1991, billionaire Igor Kesayev admired the Chrysler Building and Citigroup Center, thinking that a similar skyscraper...

Q&A: Hyundai's Petrunin Continues Family Tradition

When speaking about business, Denis Petrunin lards his speech with sailing terms: An economic crisis is like a storm, and companies are ships braving...

Zenit Stadium Construction Costs to Be Trimmed

The St. Petersburg administration will seek to reduce construction costs of a new city-funded stadium that will host World Cup matches in 2018, since...

Norilsk Nickel Shareholders Seek to Resolve Dispute

The co-owners of Norilsk Nickel have resumed talks to settle the long-standing dispute over control of the nickel and palladium giant, in a move that could...

Economy Is Focal Point for Putin's Foreign Expert Club

President Vladimir Putin acknowledged Thursday that he had to make a difficult choice when he approved the purchase of TNK-BP by state behemoth Rosneft...

Investor Defies Safety Risks in Dagestan

A busy crossroad in the city center was full of masked camouflaged men who were stopping cars Friday for a security check.

FIFA Brings Surprises and Creativity to Regional Hotel Market

A provincial town of 300,000 residents where new multistory buildings contrast with old wooden houses, Saransk grabbed attention last month when it was...

Lavrov Pushes Hard on Start of Visa-Free Regime with Europe

The European Union might be dragging out the possible cancellation of the visa regime with Russia, since the main reason this goal can’t be reached could...

Newsmakers Take a Walk Down Memory Lane

It was a picture of contrasts that perhaps could only have come from the pages of The Moscow Times.

Tax Dodgers to Fill Pension Fund

The government expects the average pension to reach 24,000 rubles by 2023, up from the current 9,700 rubles, and is counting on reducing tax evasion...

City Hall Wants Part of Sberbank SPO Proceeds

City Hall hopes that part of the tax levied on the Central Bank's $5.2 billion income from selling a 7.6 percent stake in Sberbank will go to replenish...

British Firm Lands Gorky Park Contract

A year after trendy cafes and giant pillows on the lawns replaced cheap-looking grill restaurants with plastic chairs in Gorky Park, the venue is...

Q&A: Nordgold CEO Zelenski Prefers Business People to Molecules

Balancing his animated style with a practical sense of calm is one of the things that make mining executive Nikolai Zelenski a success.

Putin Slams Officials Over Election Promises

President Vladimir Putin slammed government officials Tuesday for failing to implement the decrees containing his election promises, with the regional...

MMM Expanding Globally

Founder of the MMM financial pyramid Sergei Mavrodi is testing the waters on global markets, having recently launched similar schemes in India and the...

Severstal's Q2 Profit Plummets on Weak Prices

Steel giant Severstal's net profit dropped 75 percent year on year to $155 million in the second quarter due to weakening steel prices and foreign...

New Chief Architect Well-Grounded in History

As he headed to a meeting with deputy mayor Marat Khusnullin earlier this month, Sergei Kuznetsov, owner of a Moscow-based architecture firm, wasn't...

Suburban Kiosk Cashes In on 7-Eleven's Fame

A bus-stop kiosk selling beer and cigarettes could easily get lost among many similar shops scattered on the streets of this town 18 kilometers north...

Taxman Wants to Peek at Private Bank Accounts

Banks will be required to disclose information on private accounts at the request of tax authorities — and depositors would never know about it...

Russia Reaches Out to Foreigners – With a Logo

Eager to boost tourism, Russia has unveiled its first logo: a simple piece of artwork with the words "My Russia" portrayed in the white, blue and red...

Tour Operators Face Losses as Wind Jet Collapses

A dozen Russian tour operators might face millions of dollars in losses because of unforeseen costs they had to bear after Italian budget carrier...

Duma Deputies Try for Foreign Property Ban

A group of deputies on Wednesday sent a bill to the State Duma that would ban officials from owning properties and opening bank accounts abroad...

Land Ownership Laws Should Be Amended as Soon as Possible, Official Says

The privatization of state-owned lands proposed by Prime Minister Dmitry Medvedev will allow for more efficient use of land plots, but a clear mechanism...

Cartesian Capital Buys Into Moscow Exchange

Major private equity firm Cartesian Capital Group has joined the Russian Direct Investment Fund to buy into Moscow Exchange MICEX-RTS, in yet another...

Call Center to Improve Emergency Services

The government plans to launch an integrated emergency call center, as the tragedy in flood-ravaged Krymsk has highlighted the need to improve the quality...

Sistema Sells TV Stake to City Hall

Diversified conglomerate Sistema said Wednesday that it had sold its stake in television company Moskovia to City Hall, as holding the asset was no...

Pyrrhic Victory Possible Result of Tax Scrutiny of Landlords

Moscow authorities expect massive incremental income tax collection from apartment landlords to start next year — a measure that might bring an additional...

Edelman Closing its Local Operation

A global public relations firm got mired in a labor scandal in Russia, having said Friday that it is closing its local unit, which hadn't met the parent...

Investment in Kaluga Pharmaceutical Hub Could Hit $1Bln

The Kaluga government plans to establish a pharmaceutical manufacturing hub in the region that could net $1 billion of investment by local and international...

MMK Cancels Flinder Bid, But Battles to Prove Its Legitimacy

Magnitogorsk Iron and Steel Works said Wednesday that it is committed to continuing the court battle over the deal to acquire Australian iron ore miner...

TUI Russia Offers Bubbly on Repainted Jets

Under a deal with Kolavia airline, tour operator TUI Russia will fly three branded jets out of Domodedovo to popular tourist destinations in Spain, Turkey...

Watch Your Money, Medvedev Says

Investors cheated while participating in financial pyramids should be "taught how to use their money," but the government shouldn't bear responsibility...

Families in Expanded Moscow Can't Sell Homes

Selling a dacha in the Moscow region this spring has turned out to be more complicated than Lyusine Nersesyan and her husband thought it would be, as none...

Nabiullina, Gref Pursue Clarity

Launching a new state procurement website last year apparently resulted in one federal official not getting luxury furniture, but it was crucial for ensuring...

RDIF in Consortium to Buy in Companies

President Vladimir Putin on Thursday announced an initiative supposed to give impetus to the domestic stock market, saying that the Russian Direct...

Investors Look to Putin for Direction

The president will welcome business leaders to this year's economic forum in St. Petersburg on Thursday with a keynote speech some hope will clarify the...

What Euro Crisis? Russia Seeks Single Currency

Prime Minister Dmitry Medvedev is calling attention to the introduction of a common currency for the Eurasian Union of former Soviet countries as a hedge...

Survey Shows Global Equity Funds Eager to Increase Investment

Despite the turmoil facing the global economy, leading private equity funds are showing a growing appetite for Russia, saying they are ready to expand...

European Debt Crisis Driving Workers East

Despite its inconveniences, Moscow has become a magnet for foreign job-seekers, as unemployment in Europe is hitting record highs amid the debt crisis...

Internet Shows Signs of Challenging TV for Attention

The country’s biggest search engine, Yandex, saw more daily visitors last month than the number of any television channel’s viewers, and analysts said...

Medvedev Divides the Burden Amongst His Deputies

Prime Minister Medvedev on Thursday allocated responsibilities between his deputies, saying he couldn't solve all the issues on his own.

Drugmakers Have High Hopes for Health Minister

Foreign and local drugmakers on Tuesday welcomed the appointment of Veronika Skvortsova as health minister, saying they expect her to enforce initiatives...

Auchan, Renault-Nissan Starting Local Banks

Auchan's banking unit and Dutch Credit Europe Group have embarked on establishing a joint bank in Russia to  provide a broader range of services...

Kremlin Aide Tries to Smooth Over G8 Attendance Flap

World leaders have indicated they are ready for productive work with Prime Minister Medvedev at the G8 summit, a Kremlin economic aide said.

Safety, Cost Meet Head On in Arctic Oil Race

Half a century ago, this town on the White Sea coast was a supply mecca for residents of the nearby metropolis Arkhangelsk, who regularly made the 35-kilometer...

Time Is Running Out to Rent a Dacha

Those wishing to rent a dacha in a picturesque neighborhood outside Moscow should hurry up, since the number of high-quality options is declining...

Medvedev Starts Implementing Presidential Orders


Prime Minister Dmitry Medvedev assigned his acting first deputy Igor Shuvalov to oversee the implementation of presidential orders Saturday and said...

Rogozin Could Take Direct Control of Defense Orders

Acting Deputy Prime Minister Dmitry Rogozin could take defense tenders under personal control in a measure to facilitate the signing of state contracts...

Putin Keeps Election Promise to Nizhny Tagil

Following through on his election promise, President Vladimir Putin visited Uralvagonzavod on Thursday, having announced a bundle of state orders worth...

Nike Expands Franchisee Base

Global sportswear giant Nike plans to sign a franchising agreement with re:Store Retail Group — which operates a chain of Apple branded stores in Russia...

U.S. Sees Intellectual Property Rights Still Threatened

A division of the United States Commerce Department on Monday put Russia on its annual listing of countries with the poorest intellectual property...

State Fund Draws Middle Eastern Partner Into Power Producer

The state-backed Russian Direct Investment Fund has attracted a Middle East private equity firm to co-invest in a blocking stake in power producer...

Economic Forecast Held Hostage to Putin

The Economic Development Ministry expects the country’s economy to grow 3.4 percent this year before expanding 4.7 percent in 2015, according to an updated...

Severstal Posts $2Bln Profit for 2011

Steel giant Severstal posted a net profit of $2.04 billion in 2011, having swung from a loss of $575 million a year earlier, after it sold loss-making...

VTB 24 to Spend $385M on People's IPO Reversal

A retail unit of state-controlled lender VTB said Tuesday that it had finished collecting bids from small investors who purchased the bank's stock...

Court Unswayed on MMK Acquisition Ban

A regional court Thursday left its injunction blocking Magnitogorsk Iron & Steel’s acquisition of an Australian iron-ore miner unchanged, according to...

Cabinet Approves Bill on Foreign Investment in Insurance Sector

The share of foreign capital in domestic insurance companies might double in the near future, as the government approved a bill Thursday aimed at attracting...

Experts Call for Expansion Talks

A group of independent experts has called for city authorities to provide more details on the project to expand the boundaries of Moscow, with...

Goldman Sachs Sees Overheating as Biggest Risk

The major risks for Russia in the near future are likely to come from an overheated economy, rather than falling oil prices, as accelerating consumption...

Lawyers Spar Over Shuvalov Business Links

A U.S.-based Russian lawyer suspected of spilling the beans about First Deputy Prime Minister Igor Shuvalov’s links to business stopped short of taking...

Dubai Developer a Pioneer in Residential Development

The high-end housing market outside Moscow saw a surge in buyers' activity last year, with the number of deals rising 20 percent from a year earlier...

Election Promises Not a Budget Burden, Dvorkovich Says

Kremlin economic adviser Arkady Dvorkovich said Friday that bringing the pledges made by President-elect Vladimir Putin during the election campaign...

Q&A: Petrov Sells Russian Helicopters — and Flies Them

Readers of Britain's Times might have been astonished when they opened the newspaper one April morning last year and saw a full-page advertisement...

Medvedev Renews Corruption Battle

President Dmitry Medvedev proposed a bundle of measures Thursday to carry forward the fight against thriving corruption, although he admitted that...

RusAl Net Plummets Due to Norilsk Reversal, Price Drop

United Company RusAl said Monday that its net profit slumped 92 percent in 2011 from a year earlier due to a decline in the value of its stake in Norilsk...

Strategy Focuses on Middle Class, Asia

An independent group of advisers, tasked by Prime Minister Vladimir Putin to recommend policies the government should follow for the next eight years...

Newsmaker: Vekselberg's Career Is Filled With Energy

As a young engineer in the late 1980s, Viktor Vekselberg showed initiative and was well-liked by co-workers at the Moscow-based company where he helped...

RusAl Clash Could End Up in Court

The shareholder spat within United Company RusAl might end up in court, as billionaire Viktor Vekselberg, who has resigned as its chairman, is considering...

RusAl Chairman Calls It Quits

A dramatic public clash arose between the billionaire owners of United Company RusAl on Tuesday after Viktor Vekselberg resigned as chairman of the...

Living Tops Investing For London Home Buys

Russian buyers continue to rank first among foreigners spending on high-end housing in London, giving the market a significant boost in the last...

Libyans Weighing Contract Options

The Libyan government said it might honor contracts that had been signed with Moscow during the regime of Moammar Gadhafi after checking them for corruption...

Russia Ranks 2nd for Billionaires

Russia ranked second by the number of the world's wealthiest people this year — leaving China just a notch behind — with tycoon Alisher Usmanov...

Annual Flower Sales Boom Coming

A dark and damp basement in Kievsky Station is full of flowers, with buckets of white, red, yellow and pale pink tulips forming a colorful carpet, in sharp...

Putin: Privatizations To Be Fair Somehow

Prime Minister Vladimir Putin has promised that privatizations of state assets will be carried out more properly than those in the 1990s, with the companies'...

Agriculture Loan Terms Improved

In an unusual measure to benefit entrepreneurs, the government has talked the country’s two biggest lenders into decreasing interest rates on loans they...

Microsoft, Cisco Look Beyond Sunday's Vote

Betting that the Kremlin will foster economic stability after next weekend's election, senior executives of the world's leading technology companies...

Skolkovo Might Host G8 2014 Summit

Skolkovo innovation city might be chosen as the venue for the G8 summit to be held in Russia in 2014.

Severstal Will Spend $1.7Bln on Upgrades

Severstal said Monday that it plans to spend a total of $1.7 billion this year to modernize its facilities and carry out new projects in Russia and abroad...

Yandex Agrees on Twitter Feed

Yandex had signed an agreement with global microblogging service Twitter that will give users of the country's most popular search engine immediate access...