Friday, March 1, 2024
The Russian government has spent more than 4 trillion rubles ($64 billion) on some 62,600 unfinished construction projects, the country’s Audit Chamber said, according to the Business Gazeta. The list of the uncompleted construction projects includes preschools, schools, university campuses, transport, and municipal infrastructure facilities among others, according to the...
Russian-born business executive Felix Sater will be interviewed by the U.S. House intelligence committee about his role in President Donald Trump's effort to build a skyscraper in Moscow during the presidential election, the Washington Post reports. The staff-led, closed-door interview is part of the committee's investigation into Russian interference in...
The chairman of the board of Moscow’s Sheremetyevo Airport Alexander Ponomarenko told Reuters Tuesday that private shareholders in the airport may sell a 30 percent stake to raise money for a potential purchase of Russia’s 30.5 percent holding at a later date. Sheremetyevo Holding company, which controls the business, has...
Prices for luxury apartments in Moscow are rising at a second-fastest pace in the world, Kommersant reports citing a survey by real estate agent Knight Frank. According to the real estate consultancy’s report, which covered the first quarter of this year, out of 45 major global cities, only Berlin...
The main shareholder in Russian real estate developer LSR, Andrey Molchanov, plans to keep control over the company even though he reduced his stake last month, Reuters reported. The businessman and founder of LSR reduced his stake by 9.71 percent via a sale to investors last month, leaving him...
Housing construction and industry were the two prime growth drivers last month with volumes of the former up by 6.7% y/y (0.6% in March) and industrial production jumping by 4.6% y/y on higher oil and gas output and the calendar factor, BCS Global Markets said, commenting on the latest...
Russia’s Kalashnikov Concern, owned by state-run tech corporation Rostec, has completed the acquisition of shipbuilding assets, gaining a full set of competencies to enter the industry, the company’s CEO Vladimir Dmitriev told TASS news agency in an interview on Wednesday. "We are not planning to expand this business and...
A Russian company is planning to build the country’s first private spaceport for suborbital flights, Moscow-based daily newspaper Izvestya reports. The project’s price tag is expected to reach $40 million. The facility could be constructed on the territory of the Nizhny Novgorod Region or in Tatarstan, according to the report.  One...
A ruined palace once used by the Russian tsars can now be taken over and renovated by the country’s biggest oil company, state-run Rosneft, draft legislation provisionally backed on Tuesday by lawmakers reveals, according to Reuters. The Ropsha Palace, 18th-century residence near St. Petersburg built by order of Peter the...
Turkish construction companies have expressed interest in transport projects in Russia which are part of the Comprehensive Plan for upgrade and expansion of the Russian mainline infrastructure by 2024, transport minister Yevgeny Ditrikh said on Friday at the Russian Investment Forum in Sochi. "Our preliminary negotiations with Turkish companies highlighted...