Saturday, June 6, 2020
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,...
China’s Great Wall Motors (GWM) became the first automobile producer from the country that has signed a special investment contract (SPIC) with the government of Russia, Vedomosti reported. A special commission composed of several Russian governmental agencies, institution and funds approved on July 31 a resolution to facilitate GWM's operation in the...
Russian exporters have shipped at least 900,000 tons of predominantly thermal coal from the Baltic Sea to Asia so far this year amid slack European demand, market sources told Montel on Thursday. At least 170,000 tons loaded at Russia’s main northwest European export hub of Ust-Luga was earmarked for China,...
Russia’s first domestically made electric car Zetta (Zero Emission Terra Transport Asset) will be launched in 2020 as its certification is in the final stages, the Minister of Industry and Trade Denis Manturov has said, according to Regnum news agency. Zetta, made by the Russian Engineering and Manufacturing Company, will be the...
Ferrari sales in Russia grew by 8% in the first nine months of this year, Kommersant reported citing data from Avtostat agency. In January-September, 26 cars of the brand were sold on the Russian market versus 24 units in the first nine months of 2018. The most popular model in Russia is...
U.S.-sanctions-hit Russian company Power Machines, owned by billionaire Alexei Mordashov, has decided to fully withdraw from its joint venture with a subsidiary of Siemens and sell its 35% share to the German industrial giant, sources told Kommersant. Under the terms of the joint venture, Power Machines has an option once...
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...
China’s General Administration of Customs said on Thursday that it has allowed imports of soybean meal, rapeseed meal, sunflower meal and sugar beet pulp from Russia, Reuters reported.  Exporters of these animal feed ingredients must be inspected and approved by Russian authorities and also registered with the Chinese regulator, the...
Delance Limited, the controlling company of troubled Russian car dealership Rolf, plans to sell the company to a single buyer, a company’s spokesperson said on Monday, according to state-run news agency TASS. "The decision was made to sell the whole group to a single buyer. The deal covers all group companies...
After a less than inspiring performance in February and March, Russia’s manufacturing Purchasing Managers Index (PMI) grew to a three-month high in April, Intellinews reported. The IHS Markit Russia PMI Index increased to 51.3 in April up from 50.6 in March. The no-change mark is denoted by 50 in the index. The...