Friday, December 2, 2022
Mark Garber, an independent non-executive director of Russia's aluminum producer Rusal, has resigned from his position with effect from June 28, 2018, "due to other business commitments," the Russian company said in a statement on Tuesday. "Garber confirms that he does not have any disagreement with the board of directors and that...
In a rare gathering of some of the world’s most influential energy players at the Kremlin, the heads of the world’s top oil traders Glencore and Vitol, Ivan Glasenberg and Ian Taylor, as well as the CEO of British energy giant BP, Robert Dudley, and other top managers met...
Billionaire and Severstal owner Alexey Mordashov is betting on groceries and tourism to help expand his empire away from commodities, after making his wealth in steel, Bloomberg writes. Almost half of Mordashov’s $20 billion fortune already comes from outside the steel industry. The country's fifth-richest man said he wants to keep...
Russia’s flag carrier Aeroflot has started paying extra money to its crews flying to China, the Sheremetyevo Air Traffic Trade Union said on its site on Saturday, according to Yakutia 24. The service crews at those flights will receive an extra 8,300 rubles (about $130) per flight, the union said.  "The...
The potential impact of the coronavirus epidemic on the Russian economy is difficult to evaluate, Bank of Finland’s Institute for Economies in Transition (BOFIT) said in a report, according to bne Intellinews. “Current information suggests the overall economic impact will remain low. However, if the epidemic widens, it poses significant...
The Russian government has allocated 23.4 billion rubles (about $329 million at the current exchange rate) to compensate for air carriers’ losses entailed as a result of the novel coronavirus pandemic, according to the government’s website, TASS reports. "Domestic air carriers will receive 23.4 billion rubles in compensation for losses...
Real disposable income of Russians was down by 0.2% in 1Q20, latest data by state statistics agency Rosstat shows, according to bne Intellinews. Real disposable income has been in decline since 2013, finally recovering to only 1% growth in 2019, but incomes are expected to dive again in 2020 by...
Russia will search for adequate measures in the wake of the U.S. decision to impose 10% duties on aluminum imports and 25% duties on steel imports, Russian Industry and Trade Minister Denis Manturov said in an interview with Izvestya. "We do not have such a big trade turnover with the U.S....
The Russian stock market still has room to climb further in the coming months after reaching record highs this year, a poll of market experts carried on by Reuters revealed on Wednesday. According to the survey’s results, the market could pare gains towards the end of 2020. The market has ridden the wave...
A filing by the U.S.-based Oppenheimer family of investment funds submitted to the U.S. Securities and Exchange Commission (SEC) reveals the group has increased its stake in Russian tech corporation Yandex, Interfax reports. The company that identifies itself as one of the world’s most reputable investment firms reportedly boosted...