The ongoing turmoil in global oil markets is credit negative for banks in the oil-exporting countries of the Commonwealth of Independent States (CIS) – Russia, Azerbaijan, Kazakhstan and threatens their capital and profitability, Moody’s Investors Service said in a report published Thursday, according to the Financial Mirror.
“If economic conditions...
The Russian-German Chamber of Commerce has had a significant role in the development of bilateral relations, Russian President Vladimir Putin said on Tuesday while congratulating the leadership and members of the industry group on the 25th anniversary of its founding, Regnum reported.
"The chamber is one of the most representative...
Irish pharmaceutical company Ovoca Bio has completed a buyout of the remaining shares in Russian biopharmaceutical firm IVIX that it did not already hold, it said on Tuesday, according to Alliance News.
The Dublin-based firm, which focuses on women's health, has paid a total of around $11 million for the...
The oil arm of Russian energy giant Gazprom, Gazprom Neft, plans to raise oil production at its Arctic projects this year and is considering the launch of a new gas processing plant in Yamal, Rupec.ru reports.
The company said on Tuesday its oil production at the Novy Port project will rise to...
Uncertainty caused by the coronavirus crisis has forced Russia’s top consumer electronics retailer M.video to postpone discussions regarding its dividend policy, the company said on Tuesday, according to Reuters.
“It is difficult to predict the full impact on our business in 2020 due to developments both inside Russia and globally,”...
The fifth largest steel pipe producer in the world in terms of volume, Russia’s ChelPipe, is growing steadily and is considering an initial public offering (IPO), the company’s chief financial officer (CFO) Valery Borisov told bneIntelliNews in an interview.
“Our market share in Russia was 49% in 2019 in seamless...
Official figures do not represent the full scale of the coronavirus crisis in Russia, since the country lacks adequate testing, Moscow mayor Sergei Sobyanin warned President Vladimir Putin on Tuesday, according to Interfax.
Some experts and critics have already claimed that Russia is under-reporting the scale of the outbreak, but...
German automotive giant Volkswagen said Tuesday it will stop production in its Russian plant between March 30 and April 10 due to lack of components supplied from European plants, the company told TASS.
"Due to the lack of components supplied from European plants Volkswagen Group Rus will temporarily halt production...
Authorities in Russia have urged consumers and businesses to use digital payments rather than cash in an effort to slow the spread of the coronavirus and told banks to limit ruble notes in circulation, Reuters reports.
Rospotrebnadzor, the country’s consumer safety watchdog, encouraged Russians to move to cashless payments, citing...
The Ministry for the Development of the Russian Far East and the Arctic and the Federal Agency for Tourism (Rosturizm) will be developing cruise tourism in Russia's Far Eastern and Arctic maritime regions, and the two institutions are already working on a list of laws needed for this, B-port...
