The richest Russian on the Forbes billionaire list, Novatek chairman Leonid Mikhelson, became even richer on Tuesday after selling a 10% stake in its Arctic LNG 2 project to France’s Total, state-run news agency TASS reported.
The $24 billion majority shareholder of Russia’s largest, privately owned natural gas company, inked a $2.5...
The board of directors of Magnit, one of the leading Russian retailers, approved the appointment of Jan Dunning, former head of direct competitor Lenta, as president of the company, and also approved his election to the company’s board, Magnit announced, according to RIA news agency.
“Magnit announces the approval by...
Russia’s largest classified advertising platform Avito could soon be completely sold to South Africa’s Naspers, with the media and internet group interested in buying the remaining 32 percent it does not already own, two sources told Reuters.
The deal could be announced as soon as Monday but details of the...
Troubled German banking giant Deutsche Bank is damaged by fines, legal action and the possible prosecution of “senior management” because of its role in a $20 billion Russian money-laundering scheme, The Guardian reports citing a confidential internal report by the lender.
According to the document, the bank acknowledges “a...
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...
