U.S. banking giant Morgan Stanley will send the Bank of Russia a notice that it’s going to formally close of all of its banking operations in the country in the first quarter of 2020, according to a report by Reuters.
The multinational investment bank announced the news in the company’s...
The already large state share of Russia’s state-owned companies in the country’s economy has grown even further in the past five years, says a new annual report by the Federal Anti-Monopoly Service, according to bne Intellinews.
The 600-page draft document published by the competition watchdog found that state companies make up close to or...
The Moscow City Court on Monday upheld a lower court’s decision to extend house arrest until July 14 for U.S. investor Michael Calvey, who is charged with 2.5-billion-ruble (about $40 million) embezzlement, TASS reports citing the court’s press service.
Calvey, a prominent investor and founder of investment company Baring Vostok, was...
Chinese investment in the Russian economy have increased as Western sanctions are pushing Beijing closer to Moscow, says a new report released by the U.S. Department of Defense, according to Russian news agency Prime.
The 136-page document dedicated to China's armed forces issues Washington's concerns over Beijing's growing clout, including...
Russian food retail X5 Retail Group has signed a long-term agreement with wholesale supplier RITM-2000 to open 85 stores across central Russia, RNS reported.
The partnership is part of X5 Retail’s development strategy to combine organic growth with mergers and acquisitions, with a focus on lease agreements for a range...
Russia's largest carmaker AvtoVaz posted net profit of 5.86 billion rubles ($90.5 million) in 2018 — the company’s first profit in a decade. The results for 2018 follow on from $148 million losses under international financial reporting standards (IFRS) in 2017, the company said, according to Vedomosti.
While some carmakers in...
The wife of a former Russian minister dined with UK Prime Minister Theresa May and six female cabinet members on Monday night after winning an auction at a Tory fundraiser, one of the ministers revealed in an Instagram post, according to Sky News.
Lyubov Chernukhin, 46, dined with the prime...
A U.S. has charged a Hermitage, Pennsylvania businessman connected to an operation that prosecutors allege sold misbranded and unapproved new drugs, WYTV reported.
In March of 2017, federal agents and Hermitage police raided a house in the town connected to the website awakebrain.com run by Koledin Enterprises.
The business, operated by Russian-American Emil...
Operating conditions for Russian manufacturers registered a moderate improvement in April on the back of growing production and a strong increase in client demand, but activity slowed from March, which saw the strongest increase in manufacturing in the last two years, according to IHS Markit’s Russia Manufacturing Purchasing Managers’ Index...
The Bank of Russia’s net gold purchases were the highest in the world in the first quarter of 2019, reaching 55.3 tons and bringing the country's gold reserves to 2,168.3 tons, new data by the World Gold Council (WGC) reveals, according to RBC.
"Russia was again the largest buyer, adding 55.3...
