Russian cities with population over a million will need at least 100 years to catch up to Moscow’s level of economic development, a new study by consultancy Strelka reveals, according to RBC.
There are 16 such large cities in the country, contributing almost a third in Russia’s GDP in 2017,...
Russian presidential ombudsman for the business sector Boris Titov has presented his annual report to the President Vladimir Putin, delivering sharp criticism of the investment and entrepreneurship climate in the country, Vedomosti reported on Tuesday.
This year Russia’s investment community is in furore as the liberal fraction of the Kremlin,...
With over 91 million website visitors in 2018, Russian online bookmaker Fonbet is the country’s most popular online sports betting website, European Gaming reported.
Fonbet narrowly edged out rival 1xBet, which had a little over 90 million visitors last year, data compiled by Betting Business Russia shows. Fonbet’s Russian-licensed Fonbet.ru...
The U.S. Treasury Department has once again delayed imposing sanctions on Russia’s largest aluminum producer, Rusal, as it seeks to strike a deal that would allow the company to escape the penalties, Bloomberg reports.
The department said in a notice Friday that licenses allowing Rusal to continue doing business would...
The first section of the Moscow-Kazan High-Speed Railway (up to Nizhny Novgorod) has been approved for construction by the Russian government, Kommersant reports.
According to the business newspaper, the project’s expediency was discussed at a meeting with Deputy Prime Minister Maxim Akimov. With the decision, around $3.10 billion will be drawn...
Russian oligarch Roman Abramovich and three of his partners said on Monday they are selling a combined stake equal to 1.8 per cent in steel maker Evraz through companies they have holdings in, Kuzpress reported.
According to analysts, it is likely the investors are looking to cash in on Evraz's recent success as...
Italian manufacturer of clothes and perfumes Gucci announced plans to open its Russia’s first monobrand outlet located in the Moscow region, Kommersant reported on Wednesday.
According to the report, the new store will be located in a building that is currently under construction at Novorizhskoe highway, at the Novaya Riga Outlet...
The Bank of Russia sees debts held by certain companies as a possible internal risk and it is working on measures to control such debts, the central bank’s First Deputy Governor Ksenia Yudaeva said on Tuesday, according to Reuters.
“Internal risks are always associated with the accumulation of excess debt...
A Russian venture capital firm aiming to bring more U.S. startups to Russia has raised a $200 million fund, hoping to use the fresh pool of money to help Silicon Valley companies deliver their services to Russia’s biggest corporations and its millions of internet-connected consumers, Venture Beat reported.
The fund...
Spending by international visitors to Russia is expected to grow by 7% this year, according to research by the World Travel & Tourism Council (WTTC).
According to the findings, the country’s travel and tourism sector grew by 3.2% in 2017 –supporting 3.3 million jobs (4.5% of total Russian employment), compared...
