Russia to boost trade with China: comments

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With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

Russian power monopoly bids farewell Russia’s electric power monopoly Unified Energy System, RAO UES, will cease to exist in just over a month. Its head Anatoly Chubais has met the company’s shareholders to assure them the sector has a bright future.

Government is failing to contain inflation Russian government has said it will struggle to meet its inflation target of 10.5 % for this year.

Moscow shops are streets ahead of London Moscow’s major Tverskaya street was rated the third most expensive commercial real estate in the world with average annual rents pegged at $US 1,515 per square foot.

Shareholders split over sale of UK-Russian oil giant The major shareholders of British Petroleum’s Russian joint-venture, TNK-BP, are reported to be in conflict over the future of the company. Oil industry analysts are predicting that the firm might finally be sold to a...

Putin calls for car-makers to step up a gear Prime Minister Vladimir Putin has called for far more cars sold in Russia to be produced domestically. During a visit to the Yelabuga special economic zone in Tatarstan, Putin urged car manufacturers to make more...

Russia has gleaming bio-fuel prospects: expert Russia could use its huge potential to become the key player on the bio-fuels market. At the moment, however, it barely meets the prerequisites for the brilliant future.

Booze crisis threatens Russia’s drinkers Manufacturers of alcoholic drinks could face a nationwide shutdown on June 1st because the state's new alcohol duty tracking system is not yet ready. However, the Federal Tax Service authorities are confident they can...

Russia demands redress from Swiss firm The Russian Government is suing the Swiss company Noga after it repeatedly requested the seizure of Russian property in different countries. A French court will decide whether the company’s actions were legal.

WTO to restart talks on Russian entry The World Trade Organisation agreed on Monday to resume talks on Russia's accession. However no deadline was set to complete the negotiations.

Small firms call for tax cuts Russia’s entrepreneurs are calling for a huge reduction in the tax burden on small businesses to help stimulate growth.

Russian oil companies to get tax holidays The Russian government has approved tax cuts of $US 4 billion for oil companies from 2009. The reduction of the mineral extraction tax, a key reform for the country’s oil companies, is believed to be the first step...

Construction boom transforming Sochi Almost a year after it was chosen to host the Olympic games of 2014, Sochi is attracting billions of dollars of investments and looks like a massive construction site: new modern hotels and housing estates are being...

Nato’s newest members hanging on to Russian jets NATO’s newest Eastern European members are still relying on Russian fighter jets to form the backbone of their air forces. Some countries are unwilling to ‘upgrade’ their arsenal when refurbishing their Russian-made MiG...

Ukraine may shatter Russia's WTO hopes Ukraine, which recently joined the World Trade Organisation, has signaled that it wants to possibly block Russia's accession.

Lukoil turns on the tap in Belgium Russian oil giant Lukoil has opened its first filling station in Belgium.

U.S. town axes Russian millionaire's palace plan The town of Greenwich, Connecticut, has denied Russian businessman Valery Kogan permission to build a 5,000 square metre mansion, after local residents submitted a petition against the project, reports Bloomberg.

Sochi highlights infrastructure problems Russia’s Olympic city of 2014 has been hosting events to draw attention to the country’s infrastructure problems. Transport Week, a railway business forum and a transport exhibition have all been held. Top managers from...

VTB to bid for struggling European banks Russian bank VTB has confirmed it may bid for European banks hit by the global liquidity crisis.

Sochi wins from massive roads boost Poor roads and a lack of infrastructure have long been a headache for Russia. Now Prime Minister Vladimir Putin says if Russia continues to lag behind, the economy will simply stop growing.

European energy security under threat The European Commission wants to limit non-EU members operating on its energy transportation networks. Russia says it won’t be able to guarantee security of supply if the EU approves its so-called “third energy...

Russia to become Adidas’s biggest European market Adidas is shifting its manufacturing operation away from China because of rising labour costs, according to the company’s head. It comes as the German sportswear manufacturer targets huge growth in the Russian market.

Russia commits $US 550 BLN for infrastructure Russia will invest almost $US 550 billion in its transportation system between years 2010 and 2015.

Moscow all set for English onslaught Moscow is getting ready to host the Football Champions League Final on Wednesday. More than 55,000 thousand fans from English are expected to travel to Russia to see their countries top clubs Chelsea and Manchester...

Is Sberbank poised to swallow foreign banks? The head of Sberbank has admitted that he faces a “massive challenge” in turning the corporation into one of the world’s biggest banks. Analysts say the country’s largest financial corporation can only...

Russia must grow its own food - Putin Vladimir Putin says Russia needs to cut its dependence on food imports in order to protect the population from sharp price rises. The Prime Minister made his comments during a visit to Stavropol region, the country’s...

Investment in arable farming reaps rewards While the world grapples with food shortages and rising prices, Russia’s grain harvest is growing. Agriculture Minister Alexey Gordeyev expects a total 85 million tonnes, while the Grain Union says it could be even...

Demand outstrips supply of Russian turbines Russia's power generator OGK-1 will spend about $US 150 million on two turbines from Siemens. In addition, Russian generators plan to pump a total of $US 32 billion into new capacity by 2010. Almost half the money may...

Russia to invest petrodollars abroad Russia could soon invest its oil billions in direct overseas investments if its national welfare fund gets more freedom about how it's used. To this end, the Finance Ministry's debt department will prepare more liberal...

Watchdog suspects steel makers of price-fixing The price of steel is going through the roof across the world, mainly because the cost of transporting it and buying the raw materials used to make it have risen dramatically. But the Anti-monopoly Service believes some...

Gazprom gets access to Canada’s market Gazprom has made its first large investment in North America, reserving all the capacity at the Rabaska LNG terminal in Canada.

Russia to boost trade with China: comments

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