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Articles with tag "business"

Russia Needs Rules for Returning Western Companies, Putin Says

Putin welcomed Western firms wanting to return to Russia, but called for regulators to create a framework that would advantage Russian companies.

Russia Sells Famed Imperial Prison at Auction

The new owners said that the location will have a museum, a hotel complex, restaurants, galleries and public spaces open to all.
2 Min read

Russian Metals Major Norilsk Nickel's Profits Drop 37% in 2024

Nornickel attributed the top-line decline to lower market prices for nickel and platinum group metals.
2 Min read

Russia’s Economy Defies Wave of Bankruptcy Fears With Fastest Private Sector PMI Growth in a Year

High inflation remains a problem, despite the Central Bank’s efforts to cool price growth using non-monetary policy methods.
3 Min read
opinion Jason Corcoran

Forget ESG – Western Firms Will Rush Back to Russia When War Ends

The lure of a market of 140 million people will be too much for many companies to resist, ignoring geopolitical and ethical considerations.
5 Min read

Sanctioned Russian Billionaires Exploit Dutch Legal Loophole to Conceal Finances – NOS

By classifying their companies as micro-businesses, billionaires can conceal cash flows and avoid strict reporting requirements.
2 Min read

Ex-Chechen Official Takes Over Danone’s Russian Unit

Danone announced its intention to leave Russia after the 2022 invasion of Ukraine. In May, Danone completed the sale of its Essential Dairy and Plant-based...
2 Min read

Danish Brewer Carlsberg Sells Russian Business

The move comes a day after President Vladimir Putin signed a decree ending state control of the business.
1 Min read

Russia’s Rusal to Cut Aluminum Production Amid Rising Costs, Sluggish Demand

Rusal said it would cut output by 250,000 metric tons as profit margins are squeezed by record-high alumina prices.
1 Min read

Russian Aircraft Manufacturer Ousts Top Executives Amid Production Setbacks

The shake-up also comes after one of the company’s flagship jets, the SJ-100, caught fire after landing in Turkey on Sunday night.
2 Min read

Rosneft Denies Reports of Mega Oil Merger Plans

The state-backed oil giant accused journalists of trying to tarnish CEO Igor Sechin’s reputation, sarcastically referring to him as “evil Sechin.”...
1 Min read

Russia Faces a Wave of Bankruptcies as Borrowing Costs Skyrocket

Corporate bankruptcies in Russia have jumped by 20% this year as soaring interest rates and liquidity shortages push firms closer to financial ruin.
5 Min read

Trump’s Win Gives Optimism to Russian Brokers

“All the talk this morning is about how to trade Russia and whether sanctions will be thrown off,” FT wrote.
1 Min read

IKEA Sells Last Remaining Warehouse in Russia

The IKEA distribution center’s value is estimated at between $163 million and $183.5 million, industry experts said.
2 Min read

Russian Finance Minister Confirms Hike in ‘Exit Tax,’ Sales Discount for Foreign Companies

Mandatory contributions to the Russian treasury will increase from 15% to 35%, while the discount on company sales will go from 50% to 60%.
1 Min read

Moscow Police Arrest Business Partner of Bar Owner Injured in Car Bomb Attack

Russian media reported that the arrested man is Shaker Group co-founder and Belarusian citizen Vitaly Slobodyanik.
1 Min read

Putin Orders Seizure of U.S.-Owned Canned Food Maker

Canned food maker Glavproduct’s parent company, Promselkhozinvest, is owned by the U.S.-registered Universal Beverage Company.

1 Min read

Wildberries Subsidiary Files $400M Claim Against Bakalchuk

Tatiana Kim previously claimed that her estranged husband Vladislav Bakalchuk and his team siphoned 37 billion rubles out of the company.
2 Min read

Productivity at Russia’s Largest Enterprises Rising in Effort To Keep Economy Competitive

Production at the largest Russian enterprises grew rapidly in 2012-2023 despite the pandemic, sanctions and weak impact of production growth on wages.
10 Min read

Russia Hikes ‘Exit Tax,’ Sales Discount for Foreign Companies – RBC

“Voluntary contributions” to the Russian treasury for exiting companies would be raised from 15% to 35% under the new rules, according to RBC.
2 Min read
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