Russia’s business ombudsman Boris Titov has once again said that the founder of Baring Vostok investment company, U.S. citizen Michael Calvey, who stands charged with 2.5-billion-ruble (about $39 million) embezzlement, must be freed from detention, Russian legal information agency RAPSI reported.
Titov told journalists the restrictive measure on Calvey...
Russia’s biggest bank, Sberbank, will sell its stake in troubled Croatian company Agrokor after it restructures it, thereby increasing its value, Poslovni Dnevnik reported, citing the adviser to the CEO of Sberbank for Agrokor and future member and chairman of the Managing Board of Fortenova (Agrokor’s new name), Maxim...
The Russian State Duma (lower house of parliament) has backed the international use of a Russian alternative system for the global financial messaging network SWIFT, Reuters reported. The system was designed by Moscow to eliminate the risk of Western sanctions against its banks.
The lower house of parliament, or Duma, gave...
Russia's industrial output growth surged to 4.1% year-on-year in February, after 1.1% posted in January, Finansovaya Gazeta reports citing the most recent data by state statistics agency Rosstat.
In calendar and seasonally adjusted terms, industrial output grew by 1.2% month-on-month in February and 2.6% y/y in January-February overall.
Sberbank CIB sees the February...
A sharp reduction in non-performing loans has lead Credit Bank of Moscow, one of Russia's top-three private lenders, to post a bumper profit for 2018, up 31.5%, Rossiyskaya Gazeta reported.
For the year ending on 31 December, the bank’s profit after tax reached 27.2 billion rubles ($422.5 million). The assets...
Swiss-based fertilizer producer Eurochem has returned to the international debt markets with a new $700 million Eurobond issue, the company said in Tuesday, according to World Fertilizer.
During an intensive roadshow in the U.S. and Europe, the company was met with strong interest from high-quality international investors, Eurochem said, adding that the...
Shares in Russian metallurgical company Evraz dropped around 5% of their value at the London Stock Exchange on Tuesday after it was announced that billionaire Roman Abramovich and several of his partners have sold their share in the company, Rambler reports.
As of 11.26 Moscow time, the company's shares declined by 5.71%,...
Russian tech giant Yandex and South Korean automaker Hyundai have teamed up to develop driverless car components, Russian news outlet The Bell reports.
The plan is “to create a self-driving platform that can be used by any car manufacturer or taxi fleet” that will cover both a prototype as...
Speaking only a month after the arrest of American investor Michael Calvey sent shockwaves through business circles, Russian President Vladimir Putin told prosecutors on Tuesday to step up legal protection for entrepreneurs, AFP reports.
Putin said the Kremlin wanted "more effective defense of the rights of business owners, with...
