Saturday, April 4, 2020
Sheremetyevo International Airport JSC (SVO JSC), operator of Sheremetyevo International Airport, reported revenue of 39,239 million rubles in 2019, an increase of 24.76% compared to the same period in 2018, and net profits of 20,480 million rubles, an increase of 122.22%, the airport's press service said. Revenue was up 14%...
As many as 90% of the restaurants, cafes, and bars in Moscow might not survive the ongoing city-wide lockdown forced onto the Russian capital by the coronavirus pandemic, an industry representative has warned, according to Vedomosti. The Federation of Restaurateurs and Hoteliers (FRIO) said the industry is facing a “great...
Russian fashion retailers are going to have to cope with tough times amid the coronavirus outbreak which has forced Russians into self-isolation, Kommersant writes. Sales of clothing, shoes, and accessories are expected to plunge by 20-30% depending on how long the lockdown lasts. A surge in online trade will not...
Last week, on March 25, a regular meeting of the Board of Directors of Sheremetyevo International Airport JSC (SIA JSC) was held in correspondence form. At the meeting, among other issues, the financial statements of SIA JSC for 2019 were approved, prepared in accordance with Russian Accounting Standards (RAS). According...
The Russian Finance Ministry announced this month it has transferred last year's budget surplus to the country’s National Welfare Fund (NWF), which now amounts to about 12,200 billion rubles ($157.2 billion), or 11% of Russia’s GDP, TASS reported. The reserve fund can be used to cover a budget deficit in...
The onset of a recession in the Russian economy this year is unavoidable, experts told Nezavisimaya Gazeta, with more pessimistic analysts predicting an up to 7% decline in GDP. International rating agency Standard & Poor’s (S&P) forecasts a 0.8% decline in Russia’s economy. Experts told the newspaper that quarantine measures...
Russian President Vladimir Putin and U.S. President Donald Trump discussed oil and the spread of the coronavirus in a phone call on Monday, and ordered their energy ministries to hold further talks on global oil markets, Bloomberg reported. The Kremlin did not say what exactly the ministers would discuss, but...
Russian Minister of Industry and Trade Denis Manturov has proposed to Prime Minister Mikhail Mishustin a series of urgent measures to support the consumer market for a term of six months, TASS reports citing a letter sent to the government, whose authenticity was confirmed by two sources. The package of...
Russia will have big economic problems if oil prices stay at $25 for two or three years, Russian Deputy Energy Minister Pavel Sorokin said in an interview with RBC. The country can only survive the oil price of $25 for the next six months thanks to a flexible taxation system...
Russian President Vladimir Putin has ordered the government to outline the economic sectors worst hit by the coronavirus outbreak and launch permanent monitoring of the economic situation in order to update this list, Lenta.ru reports. "I order to define the list of Russian economic fields, which have been the most...