Russia’s second-biggest bank VTB has sold its American unit to the subsidiary’s management, amid fears that planned new U.S. sanctions could deal a strong blow to Russian banks, Reuters reports.
“Given the current geopolitical situation such a change ... is the most appropriate way to continue servicing our Russian and global clients,” VTB said. The...
Some of Russia’s biggest companies from the chemical and mining industries have expressed interest in freshly-announced state investment projects after the government dropped an idea to additionally tax successful firms in these industries and said it will instead try to get them to invest more.
According to Vedomosti, Polymetal,...
Russia’s Otkritie Bank bailed out as part of a series of central bank interventions last year, expects to report a net profit of 20 billion rubles $295.1 million, which is much higher than expected, the bank’s board chairman Mikhail Zadornov said in an interview with the Izvestya newspaper.
"This year,...
Тhe average mortgage rate in Russia increased for the first time since early 2018, reaching 9.57%, the Bank of Russia said in a report, according to Vesti.ru.
According to analysts, the rate could go further up due to the introduction of new U.S. sanctions against Russia, especially if they hit...
The continuing pressure of U.S. sanctions on the ruble is beginning to affect the economies of the former Soviet countries in Central Asia and the Caucasus, which are dependant on Russia and its currency, Intellinews reports.
According to the report, these countries are now suffering blows from two sides, since...
Russia’s deeply unpopular pension reform has again drawn thousands of people across the country to the streets Sunday despite President Vladimir Putin's announcement of several concessions this week, RFE/RL reports.
The government plans to gradually raise the state pension age in the first such hike in nearly 90 years, as the...
Business opportunities for Russian companies on the African continent will be promoted at the upcoming first edition of the Russia-Africa Trade and Investment Forum (RAfTIF), planned by organizers to be a platform that serves as a bridge between Russian and African businesses, Eurasia Review reports.
According to the forum’s Managing...
French companies see perspective in Russia and this is why not a single company has left Russia after the European Union (EU) imposed sanctions against Moscow in 2014, says the head of the Franco-Russian Analytical Centre Observo Arnaud Dubien.
"Unlike American and other companies, French (companies) have not left because...
One of Russia’s last independent publications, the local version of Forbes, has been sold, and the buyer is businessman Magomed Musaev, who is the son-in-law of former Dagestani President Ramazan Abdulatipov, RBC reports.
The news outlet was owned by Alexander Fedotov’s media group ACMG. The new management announced that Nikolai Mazurov will...
A court in Moscow has ordered the detainment of Yury Volkodav, the former head of the Dalspetstroy construction company as part of the criminal case over embezzlement of 140 million rubles ($2 million), the press-service of the court told Russia’s legal information agency RAPSI.
The defendant is charged with abuse...
