Wednesday, January 29, 2020
Nigeria has said the Russian government and Afreximbank are ready to provide up to $1.46 billion to fund the resuscitation of the troubled Ajaokuta Steel Company, Ameh News reported. The country’s minister of Mines and Steel Development, Olamilekan Adegbite, who announced the news in Lagos on Tuesday, said a Memorandum...
Russia is leading the world in terms of its weaponry, the country’s president Vladimir Putin said on Wednesday during his annual state of the nation address, but added that the country is not a threat to peace, CNBC reports. “Russia’s open to improving relations and collaborations with all the partners,...
Depressed consumer incomes will lead the Russian car market to more contraction this year, an executive of Russia’s largest carmaker Avtovaz has said, according to Rossiyskaya Gazeta. Avtovaz’s Executive Vice President of Sales and Marketing Oliver Morne said on Monday that his company estimates Russia’s total sales of passenger and...
Russian heavy-duty truck maker Kamaz is interested in deliveries of assembled K4 generation trucks including gas-powered ones to Azerbaijan, a source within the company told AMI Trend.  It was noted that the deliveries of the new model range are in the planning stage and the volumes have not been disclosed...
The second Project 885-M Yasen M-class multipurpose nuclear-powered attack/cruise missile submarine was floated out at the Sevmash shipyards in Severodvinsk, RT reported late last month. A short video clip released by the Russian Ministry of Defense’s (MoD’s) Zvezda television network, shows the “Novosibirsk” lowered into the water by a submarine...
Russian Prime Minister Dmitry Medvedev has signed a decree on the order of providing subsidies to encourage demand and improving the competitiveness of Russia’s manufactures, TASS news agency reports. The document published on the cabinet’s website says the federal budget for 2020 envisions as much as 9.8 billion rubles ($157...
Russian steel pipe manufacturer TMK has finalized a deal to sell its U.S. subsidiary IPSCO Tubulars to global producer Tenaris, Kommersant reports. "The final amount paid in cash, following contractual adjustments, was US$1,067 million (including approximately $220 million in working capital)," Luxembourg-based giant Tenaris said in a statement. Under the deal,...
Exports of the wholly Russian-made MC-21 jetliner to Malaysia, which has signed a “soft” agreement to buy the airplane, may start in 2023, Industry and Trade minister Denis Manturov said on Monday in an interview for TV channel Rossiya-24. "Commercial deliveries will start in 2021. We will start deliveries to...
Challenging demand conditions led Russian manufacturing activity to decline in December for the eighth straight month, the Markit purchasing managers’ index (PMI) showed on Monday. The index’s headline reading rose to 47.5 from 45.6 the previous month, which was its lowest level in over a decade. Values over 50 represent expansion,...
In a serious setback for the Russian military, one of its most advanced fighter aircraft, the Sukhoi Su-57 crashed during a training accident, the South China Morning Post reported citing a statement from the United Aircraft Corporation (UAC). The accident involving the SU-57 "Felon" fighter is the first reported accident for...