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

Is Russia losing interest in a gas cartel? Russia has postponed negotiations on the gas equivalent of oil’s OPEC until October. Moscow helped initiate the Gas Exporting Countries Forum (GECF) – but now its interest seems to be fading. Experts say...

Head of Russia's disbanding electricity monopoly still full of plans Just days before electricity monopoly UES ceases to exist its head, Anatoly Chubais, has taken part in two ceremonies launching the construction of new power plants in Western Siberia.

Can anything stop petrol price surge? The price of petrol in Russia may reach $US 1.20 per litre by the end of the summer, which would be an increase of 50% since the beginning of the year. So far, Russia has escaped the fuel protests seen in other...

BP chief accuses TNK of corporate raiding The Russian shareholders of oil company TNK-BP have announced they're starting legal action against BP after the two sides failed to reach a compromise over management strategy. The BP Chairman has called the actions of...

Singapore gives lesson on economic zones Russia has set aside $US 1.7 billion over the next ten years to create special economic zones (SEZ). But such zones need much more than just cash to be successful. More than anything, they need know-how. Singapore has...

OPEC blames speculators for rising oil price The price of crude oil could hit $US 250 per barrel in the foreseeable future, according to the head of the Russian energy giant Gazprom. In response, the Organisation of the Petroleum Exporting Countries assured the...

Gazprom wants piece of TNK-BP Russia’s gas monopoly Gazprom has said it’s interested in buying a stake in the TNK-BP oil company, but only after the present dispute has been resolved. The Russo-British joint venture is split by a dispute among the...

Aluminium leader goes for greener production Russia’s largest aluminum producer, Rusal, has begun testing new smelting technology that should cut greenhouse gas emissions by a third.

Tycoon pulls his money out of Russia Russian tycoon Suleiman Kerimov has reportedly sold his holdings of domestic assets, including stakes in Gazprom and Sberbank. The world’s 36th weathiest man (according to the Forbes rich list) is believed to have...

Car giants get wheels rolling on new plant Peugeot Citroen and Mitsubishi Motors have begun work on their new half-billion dollar car plant in Russia's Kaluga Region. The two companies are expected to get half of their materials locally as component...

Moscow airport gets rail link to city Passengers flying into Moscow’s main international airport will no longer have to queue for expensive taxis or wait for buses to take them to the city centre. Sheremetyevo finally has an express rail link to the city...

Gazprom poised to be world’s biggest company: CEO The Chief Executive of Gazprom says the state-run energy giant will become the world’s largest company. Speaking at a European Business Congress in France, Aleksey Miller said Gazprom will be worth a massive $US 1...

Profits leap at Russian oil major First quarter (Q1) net profits at Russia’s state oil company Rosneft are up more than 600% on the same period in 2007. Rosneft made $US 2.564 billion in the first three months of 2008, according to the company’s...

French food chain expands in Siberia French-based retailer Auchan is aiming to expand its presence in Russia. The food giant is angling to buy the hypermarket chain Alpi in the city of Krasnoyarsk in Siberia. The companies are holding talks on a buy-out,...

Rents soar on Moscow’s top shopping street Tverskaya Street in the heart of Moscow has joined the list of the world's most expensive streets in which to rent retail space, after New York’s Fifth Avenue and the Champs Elysees in Paris. But the sky-high rents...

Russia’s 'extraordinary' economy praised by top CEO Russia’s economy has been hailed as one of the world’s most successful of the last decade. That was the verdict of one of the top western investors at the 12th World Economic Forum in St. Petersburg.

State interference in economy to be reduced: Russian Deputy PM Russian First Deputy Prime Minister Igor Shuvalov has caused a stir at the St. Petersburg Economic Forum by unveiling sweeping plans to reduce state interference in the economy.

Jolie’s link to video of crazed office clerk It became an internet sensation with 11 million people watching an office clerk going berserk. But now an acclaimed Russian director says he was behind the cult video as a means of promoting his new movie, starring...

Gazprom calls off coal merger Russian gas giant Gazprom and the Siberian Coal and Energy Company, SUEK, have officially called off their merger.

Inflation in Latvia hits record 17.9% Inflation in Latvia soared to 17.9% in the year to May, an all-time high for an EU state. Diesel fuel prices increased in March, causing a flow-on effect to other goods and services. Latvia joined the EU in 2004.

Russians to build $US472 MLN Cambodian resort Russian company the Koh Puos Investment Group has begun construction work on a $US472 million island resort off Cambodia's south-west coast. The plans have gone ahead despite the company’s director currently being in...

Russia’s biggest banks team up to rival Visa & MasterCard Russia’s two largest banks have teamed up to create the United Russian Payment System (ORPS), in a bid to rival Visa and MasterCard, Sberbank CEO German Gref says. VTB agreed to join Sberbank after the name of the...

Economists divided over Russian inflation cause Debate is raging within Russia and abroad about what’s causing high inflation, with some economists blaming the politicisation of the country’s Central Bank. Inflation in Russia has been officially forecast to hit 10.5%...

Temperature rising for Russian economy – but has it overheated? On day two of the St. Petersburg Forum, RT has interviewed officials and businessmen on one of the most pressing economic issues facing modern Russia: whether its economy has overheated, and if it has, what could be...

Gazprom eyes Alaskan pipeline Gazprom has unveiled an ambitious plan to build a pipeline to carry natural gas from Alaska to other parts of the United States. The company’s CEO Alexey Miller used St. Petersburg’s International Economic Forum to...

Gas will be sold in roubles: Gazprom CEO Gazprom aspires to sell gas for roubles outside of Russia after trade on the St. Petersburg bourse starts, the head of the oil, giant Alexey Miller, has said. Its launch is planned for 2009.

Pay-per-pound airline tackles fuel crisis? With fuel prices skyrocketing and angry truck drivers paralysing European cities, companies are looking at new ways to stay afloat. An airline in the U.S. claims to use a pay-per-pound fare scheme, which means cheaper...

Russia unveils new jet The Sukhoi Superjet 100 will be presented at the St. Petersburg Economic Forum. Russia’s major aircraft holding already has 73 orders for its new aircraft.

Chubais refuses to desert Russia The head of former RAO UES Anatoly Chubais has revealed he will stay on in Russia’s power sector. He had earlier announced a wish to cool it for two years after the liquidation of his company on June 1.

Russia has no choice over gas prices: Foreign Minister Russia's Foreign Minister Sergey Lavrov has expanded on the reason for a gas prices to Ukraine to almost double next year.

World gathers for St. Pete Economic Forum: comments

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RT asks

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