Chinese e-commerce giant Alibaba has completed the process of forming a joint venture with Russia’s Mail.ru Group, Megafon, and the RDIF, creating the country’s largest online retailer – AliExpress Russia, RIA Novosti reports.
As the head of the state-run Russian Direct Investment Fund, Kirill Dmitriev, said the partnership will...
As economic sanctions and weak investment take their toll on the Russian economy, the growth of the country’s GDP this year is expected to slow to 1 percent from 1.2 percent projected in June, the World Bank said on Wednesday, according to Reuters.
This is the fourth time this year...
A Moscow court has extended the house arrest of U.S. investor Michael Calvey until January 13, Reuters reported on Tuesday citing Russian media. The Moscow City Court announced the ruling five days before a previous extension of Calvey’s house arrest was to expire.
Calvey and several other executives and employees of...
The economic forecasts of Russia, one of the biggest oil producers in the world, is based on an oil price of $50 per barrel, Energy Minister Alexander Novak said Tuesday, according to Izvestia.
"We believe that in the medium term, oil prices will be around $50," Novak said in an...
The Russian Direct Investment Fund (RDIF) will open its first foreign representative office in Saudi Arabia, TASS reports citing a press release from the fund.
"The office will conduct its activities based on ongoing agreements and platforms with partners from KSA. Among them is the Russia-Saudi Investment Fund, established by...
President Vladimir Putin says Russia wants to speed up the creation of a Eurasian transport network which would connect ports on Russia's Arctic coast with ports on the Indian Ocean, Politcom.ru reported.
Asia and the Middle East were in the spotlight during the conference, which Putin has attended since its...
The recent announcement that Uzbekistan could be joining the Russia-led Eurasian Economic Union (EAEU) is the latest moves that show Moscow is on the economic offensive throughout the former Soviet space, Modern Diplomacy writes.
"Uzbekistan is arguably the most important country in Central Asia as it is the only state...
Russia’s largest private lender, Alfa Bank, has issued a $400-million Tier 2 Eurobond, it said in a statement on Monday, according to Reuters.
The bank has previously said that if needed, it would borrow in rubles this year to boost its capital. It raised 10 billion roubles (about $154 million)...
A court has detained two former managers of Russian diamond producer Alrosa in a case over the deadly flooding of the underground mine Mir in Russia’s Yakutia in 2017, the press service of the Russian Investigative Committee reports.
According to the statement, the former manager of the mine Alexey Burkser...
One of Russia’s biggest online retailers, Ozon, is facing a strike by its couriers in St. Petersburg, who are protesting low wages, Fontanka reported.
On Saturday and Sunday, around 200 of the company’s couriers did not deliver their packages, disrupting deliveries in the country’s second-biggest city.
The reason for...
