The Markit purchasing managers’ index (PMI) showed on Monday that Russia’s manufacturing activity expanded in March, supported by higher output and new business growth.
According to IHS Markit analysts, domestic demand substituted demand from abroad, giving the manufacturing sector a further boost.
The index’s headline reading rose to 52.8 from...
After several years of absence in the Russian market, the Opel car brand, which has moved from General Motors to the PSA Group, is coming back to the country.
In the fourth quarter of 2019, the German-made Opel Grandland X crossover will go on sale, as well as Opel Zafira...
IPG Photonics, a Britain-based laser manufacturer, argues in a new court filing that the company will continue to lose business as long as CEO Valentin Gapontsev is listed as a Russian oligarch and U.S. tensions with Russia continuing to escalate, the Worcester Business Journal reports.
Gapontsev is a Russian-American billionaire...
The world’s second-biggest aluminum producer, Rusal, has doubled the capacity of its smelting plant in Boguchansk in Siberia, to 298,000 tons a year, the company said after launching the upgraded smelter, according to Business Recorder.
The move, which is part of a bigger project by Rusal, comes two months...
U.S. car manufacturer Ford will pay around $200 million in cash to workers and suppliers who lose their jobs when the company closes three of its plants in Russia in June, the company said in a statement.
The U.S. automaker officially announced this week it is closing two assembly...
VTB Group, Russia’s second-biggest bank, has agreed with Kyrgyz mining company Alliance Altyn Group to finance a gold mining project in the Central Asian country worth $180 million, VTB’s CEO Andrei Kostin told reporters on Thursday, according to TASS.
"We are signing an agreement with Alliance Altyn, a subsidiary...
Gold production in Russian in January stood at 17.84 tons, up from 15.67 tons in the same period in 2018, the country’s Finance Ministry said on Wednesday, according to Finmarket.
Production for the period included 14.11 tons of mined gold compared with 12.26 tons a year ago, the ministry...
Russian joint venture Ford Sollers, a branch of U.S. car manufacturer Ford Motor Co, will close two assembly plants and an engine factory in Russia, exiting the country’s passenger vehicle market, Reuters reported on Wednesday.
Two assembly plants in Naberezhnye Chelny and Vsevolozhsk and the engine plant in the...
Russian retailer X5 said that its adjusted earnings before interest, tax, depreciation and amortization (EBITDA) rose to 7.2% in full-year 2018, as the business reported “sustainable growth” for the year, Fresh Plaza writes.
The retailer made the announcement as it published its 2018 Annual Report, in which it said that its grew revenue...
Russia’s first luxury car manufacturer, Aurus, is facing challenges in global markets and its future is uncertain, Izvestya writes. According to the newspaper, Toyota, Lamborghini and Michelin have filed protests with the European Union Intellectual Property Office (EUIPO) against the Russian brand’s patent application, claiming that the brand’s name...
