The arrest of prominent U.S. investor Michael Calvey in Moscow on suspicion of fraud has sent shockwaves through Western business circles and sparked fears of cutbacks in foreign investment sorely needed for Russia’s economic growth, The Financial Times reports.
The founder of private equity firm Baring Vostok was arrested on Friday...
Russian aluminum giant Rusal, which was recently excluded from a U.S. sanctions list, is negotiating to reinsure its risks with Western companies, Natalia Karpova, deputy chairman of the board of the Russian National Reinsurance Company (RNRC), told reporters, according to Reuters.
On January 28, U.S. President Donald Trump’s administration lifted...
The Russian Direct Investment Fund (RDIF) is planning to start talks with its foreign partners in the coming months on priority projects for the Russian economy outlined by a working group co-chaired by Finance Minister Anton Siluanov and Chairman of the Russian Union of Industrialists and Entrepreneurs Alexander Shokhin,...
The arrest of major U.S. investor Michael Calvey on fraud charges in Moscow should "not affect the investment climate" in Russia, the Kremlin said on Monday, according to Bloomberg.
Calvey, founder of the multi-billion-dollar investment fund Baring Vostok Capital Partners (BVCP), was placed in custody by a Moscow court until...
Siemens regards a scandal that saw several power plant turbines sold by the German industrial giant to Russia in 2015 and 2016 but delivered to the Russian-annexed Crimean peninsula, as an "individual" error, the company’s CEO Jo Käser told Deutsche Welle on Saturday.
Speaking on the sidelines of the Munich...
Russian Economic Development Minister Maksim Oreshkin told television channel Rossiya 24 that the World Trade Organization (WTO) has been slowed down by the United States and its operation has apparently come to a halt, according to Rambler.
"The United States is playing actively on the global arena, breaching all the...
The founder of Russian equity firm Baring Vostok, U.S. investor Michael Calvey, told a Russian court on Saturday he would cooperate with an investigation into alleged financial misconduct and comply with terms if put under house arrest, RFE/RL reports.
The Moscow court has ordered Calvey to be kept in custody...
Moscow will launch the Arctic LNG 2 project even if it has to do it on its own, Russia’s Finance Minister Anton Siluanov has said, adding that a new U.S. bill introducing fresh sanctions against Russia aims to sabotage the LNG mega-project, TASS news agency reports.
Earlier this week, U.S....
NLMK Pennsylvania, the U.S. arm of Russian steel giant NLMK, has paid $160 million in tariffs to keep its local operations running, The Sharon Herald reports.
“We’re probably the poster child for tariffs,’’ said Bob Miller, NLMK Pennsylvania president. Miller oversees the company’s Farrell steel plant, which employs 600 as...
One of the most prominent U.S. business executives based in Russia, Michael Calvey, was detained on suspicion of fraud, a Moscow court said Friday, according to CNBC.
Calvey’s private equity firm, Baring Vostok Capital Partners, said that Russian authorities had detained him and three other employees as a result...
