Friday, September 18, 2020
Russia will boost its consumption of aluminum by 300,000 tonnes this year against the background of U.S. sanctions, the country’s Minister of Industry and Trade Denis Manturov told reporters on Monday. "We have about one million in 2017, and 300,000 tonnes will be added this year," Manturov said, according to TASS. According...
After years of consideration, Russia, one of the world’s top gold producers, is once again planning to abolish the value-added tax (VAT) on gold purchases, starting from 2020, Reuters reported. A group of Russian lawmakers have submitted the draft bill to the Duma, the lower house of parliament, proposing canceling...
French companies are aware of the potential and the benefits of operating in the Russian market, and not a single French company has left Russia since 2014, Patrick Erbs, the head of the economic department of the French Embassy in Russia, said on Friday, according to Sputnik. "France has historic...
Almost all of the 96 Russian individuals with a net worth of at least USD 1 billion and who are now listed as “Oligarchs” in the U.S. Treasury Department’s report can be found in the Forbes ranking of the 200 richest businessmen in Russia 2017. The similarity between the...
Russia’s import substitution is a ‘temporary phenomenon, a temporary tool for adjusting the current situation’, President Vladimir Putin said on Wednesday, according to TASS. "The idea of import substitution itself is not universal and is not what we should strive for in the long run, because import substitution should not...
U.S.-based global fast-food chain Subway opened its first restaurant in the city of Tarko-Sale, a city of 22,000 inhabitants in Russia’s Far North Yamalo-Nenets Autonomous District last month, New Retail reports. “For local residents, this is a real event. There is no major brand here. And in general, the restaurant sphere is...
The acceleration of the Consumer Purchasing Index (CPI) in Russia from 3.4% year on year in September to 3.5% YoY in October was more modest than analysts at ING Group expected, the financial institution said in its latest report. “The key reason for the positive surprise was the 0.5% YoY drop...
The company which runs the Domino’s Pizza brand in Russia and Turkey, DP Eurasia, reported a rise in its 2019 core profit, but declined to provide an outlook for this year given the uncertainty about the impact of the coronavirus outbreak, Reuters reports. Last week, the firm had to close...
The House Armed Services Committee on Friday unveiled details of its $717 billion defense policy bill which authorizes the level of defense spending and sets policies controlling how the funding is used, The Hill reported. Citing a “crisis point,” including 25 service members killed in military aviation accidents this spring,...
The price of gold jumped past $1,700 per ounce on Monday for the first time since late 2012, as growing fears over the rapidly spreading coronavirus outbreak and a plunge in crude oil hammered equities and sent investors scurrying for safe havens, Reuters reported. By 0054 GMT, spot gold rose...