The Bank of Russia lowered its key interest rate to 7% on Friday, easing the cost of borrowing for the third time this year, and signaled the possibility of another rate cut at one of the next three board meetings, Bloomberg reports.
The move comes as inflation, the central bank’s...
Severstal has acquired licenses for two sites adjacent to its Vorgashorskaya mine, therefore extending the life of one of its six coking coal mining assets by five years, from 2024 to at least 2029, S&P Global Platts reported on Thursday.
A spokeswoman for the Russian mining and steel company said...
A number of Southeast Asian countries, members of ASEAN, have called for improvements in the region’s free trade status with Russia at this week’s Eastern Economic Forum in Vladivostok, Rhythm of Eurasia reports.
Nearly all members with the exception of Vietnam, which has a free trade agreement (FTA) with the...
South Korea’s Samsung Heavy Industries has been selected as a technical partner in building an icebreaking LNG carrier for Novatek’s Arctic LNG2 Project, Seanews.ru reports.
The deal will secure a big advantage for the company in landing an order for 15 polar icebreaking LNG carriers that Russia is expected to...
Businessmen convicted of committing economic crimes of low-to-medium severity should be pardoned, Russia’s business ombudsman Boris Titov has suggested, according to Business.ru.
Moreover, he believes it is necessary to apply the amnesty to first-time convicts imprisoned for crimes related to business activities.
The ombudsman has also proposed to drop charges against...
The Russian government is considering setting up a system to monitor what Russian internet users watch online, business newspaper Vedomosti reported Thursday, citing unnamed Kremlin sources.
The Kremlin seeks to understand the types of content Russians watch online and which websites impact public opinion the most, the newspaper’s sources said....
Venezuela’s state-run oil company PDVSA will open an office in Moscow in the near future, the country’s Ambassador to Moscow Carlos Rafael Faria Tortosa told TASS news agency on Thursday.
"Now we can say that the PDVSA Moscow office will begin its work very soon," the diplomat said.
In March, Venezuelan...
Russia expects the volume of soybeans exported to China to reach a worth at least $600 million by 2024, the country’s Ministry of Agriculture has said, according to NV Daily.
Soybeans and their processed derivatives were the second-biggest agricultural export from Russia's Far East, Deputy Minister of Agriculture Sergey Levitin...
Italy on Thursday arrested an executive with Russia’s state engine maker at the request of the U.S., which suspects him of economic espionage, BBC News in Russian reported.
57-year-old Alexander Korshunov, the head of business development at United Engine Corporation (UEC), a subsidiary of state tech conglomerate Rostec, was detained...
Russian President Vladimir Putin called for more Asian investment in the country’s Far East, AFP reports.
Speaking at the Eastern Economic Forum (EEF) on Thursday, Putin said the Far East has received more than 600 billion rubles (over $9 billion) in investments since 2015.
The still largely undeveloped energy-rich region has...
