The widespread belief that young people are careless with their finances has proven to be a myth, as many young Russians are embracing saving as the country’s economy continues to struggle, Izvestia reports citing a survey by Sberbank Asset Management and Sberbank Life Insurance.
About half of working Russians under...
Russian President Vladimir Putin compared Russia’s renowned truck maker Kamaz with a phoenix, saying that the enterprise arose from the ashes after a troubled period in the 1990s.
"I remember very well the state in which the plant was in the late 1990s and early 2000s. The fire dealt...
Russian billionaire Dmitry Rybolovlev has lost a case in Monaco against a top art dealer he accused of defrauding him out of hundreds of millions of dollars, his lawyers said on Thursday, according to The New York Times.
Rybolovlev, who owns football club AS Monaco, accused Swiss dealer Yves Bouvier...
The Moscow office of tech company Ngynx was raided by police on Thursday after the ownership of the popular web server's source code was disputed, ZDNet reports.
Ngynx (pronounced "Engine-X") was acquired earlier this year by U.S.-based F5 Networks.
NGINX cofounders Igor Sysoev and Maxim Konovalov were detained during the reported raid,...
Kazakhstan’s Samruk-Kazyna National Welfare Fund has acquired a 50% stake in Ekibastuz State District Power Station-2 JSC, the largest power plant in northern Kazakhstan, Managing Director Almasadam Satkaliev told reporters on Thursday, according to Prime news agency.
The deal will give Samruk-Kazyna full ownership of the power plant, owned until now by...
Russia’s state-run gas giant Gazprom said on Thursday its management board had approved a new dividend policy, recommending increasing dividend payments to at least 50% of net profit within three years, RBC reports.
If adjusted net debt to EBITDA exceeds a ratio of 2.5, the board may decide to reduce the size of...
A Russian TV channel has abruptly canceled a sitcom starring Ukraine’s president after an allusion to a crude joke about Vladimir Putin was aired in Russia’s Far East, The New York Post reports.
The political satire served as a platform for Volodymyr Zelenskiy to gain popularity and eventually win the...
The leaders of the European Union decided on Thursday to prolong economic sanctions against Russia over the ongoing conflict in Ukraine by another six months, DW reports.
The decision comes days after the first face-to-face meeting between Russian President Vladimir Putin and his Ukrainian counterpart, Volodymyr Zelenskiy, in Paris in which...
Germany on Thursday warned the United States to keep out of European energy matters after U.S. lawmakers gave initial approval to a bill that would sanction contractors working on the Russian Nord Stream 2 pipeline to Germany, RT reports.
The EU also opposed sanctions against “companies doing legitimate business”.
“European energy policy...
The biggest bank in Russia, state-owned Sberbank, said on Wednesday it saw the potential for companies in which it owns direct or indirect stakes to hold initial public offerings in the next three to five years, RIA Novosti reported.
Some of these companies include Yandex.market, Visionlabs, Rambler, Citymobil and Delivery Club.
The lender’s...
