Bank of Moscow needs 212 billion rouble provision this year
An Audit by the Central Bank of Russia has revealed the Bank of Moscow will need to create additional 212 billion roubles in new provisions by the end of 2011.
Russian savings and funding for the real economy
With Russian savings and the role played by saving in the Russian financial system currently in focus with attempts to encourage Russians to save more, Business RT spoke with Sergey Moiseev, Deputy Director of Financial Stability at the Bank of Russia.
Vnukovo Village Outlet centre to open 3Q 2012
A new major shopping development is to appear on the Moscow retail scene with the Vnukovo Outlet Village confirming it will open during 3Q 2012.
Russia resumes electricity to Belarus
The Belarus Energy Ministry has confirmed that Russia had resumed electricity exports to Belarus on Saturday evening.
Russian tire industry set for retread
Germany`s Continental AG is withdrawing from its Russian joint venture Matador Omskshina, in which it owns a 50% stake. Sibur Russian Tires is expected to buy its partner`s share for $15 million.
Decentralization of power key to economic growth - Medvedev
The redistribution of power from federal executive bodies to regional and municipal authorities will spur economic growth, Russia’s President Dmitry Medvedev said in his annual Budget Message.
New car deals underline Russian manufacturing
Japanese car manufacturer Mazda and Italy`s Fiat are to spend $80 million and $1.1 billion respectively to start assembling cars in Russia.
Russia charged to enter hybrid market
Russia`s dream of developing its own hybrid cars is one step closer. The construction of the first Russian plant to produce a new generation of vehicles has started just outside St. Petersburg.
Ford and Sollers will boost auto market
The joint venture between Ford and Russian car maker Sollers established in February 2011 is being given a turbo boost with a VEB Bank approved credit line of $1.4 billion to finance the production of new Ford vehicles in St.Petersburg and Tatarstan.
US economy on verge of `Great Great Depression`?
World markets fall after the US economy suffered its worst day of the year on June 1 with all signs pointing to more declines over the summer.
Riding Russia`s natural energy advantage
With the 2011 surge in energy prices underlining the sector`s importance to the Russian economy Business RT spoke with Aton Chief strategist, Peter Westin about factors at play for the Russian energy sector, and it’s influence on the Russian economy.
Strauss-Kahn`s resignation creates fears for euro
The former IMF chief, accused of sexually assaulting a hotel maid, has been granted bail of US$1 million. Dominique Strauss-Kahn was the euro`s ardent protagonist and economists fear his arrest could lead to the demise of the currency.
Euro volatility, inflation and Russia
With the Euro losing ground on investor concerns about the debt problems in Greece, Ireland and Portugal, Business RT spoke with Evgeny Nadorshin chief economist at AFK Sistema about the factors at play and the implications for Russia.
Central Bank of Russia acts on inflation with rate lift
The Central Bank of Russia has lifted the refinancing rate from 8% to 8.25% as of May 3 in a move to ward off inflation.
Oil becomes a hard-to-get thing in oil-rich Russia
Russia is suspending oil exports after fuel shortages hit the home market. As a result, pump prices are burning a bigger hole in drivers` pockets.
Wal-Mart CEO predicts serious inflation
The leader of the world`s largest retailer predicts US consumers will face severe inflation on prices for food, clothing and other products in the coming months.
Consolidation to unfold across Russian retail sector
X5 retail group believes that Russia’s retail market will undergo a consolidation over the next five to seven years, and is positioning itself to remain a key player in a marketplace dominated by a small number of larger players.
US dollar should be replaced
With the US economy remaining weak, and with budget woes hitting confidence in the US dollar, talk about a new global reserve currency is mounting.
1Q Russian car sales up 77%
The AEBRUS says that 1Q Russian car sales are up 77% year on year to reach 517,304 vehicles.
Social tax break on the cards
With President Dmitry Medvedev saying the social tax rate - which pays for health care and pensions - should be lowered. Business RT spoke with Pyotr Medvedev a Partner at Ernst and Young.
Russian agriculture from the global perspective
With the government looking to boost Russian agriculture Business RT spoke with Aleksey Pavlov, Unilever group procurement operations director for Russia, Ukraine and Belarus, about how competitive Russian agriculture is, and what is changing.
Medvedev devoted to stopping money "running away" from economy
President Medvedev has admitted that the investment climate in Russia remains "very bad" and urged measures that would help to make the economy attractive to investors.
Chinese casts to get access to Russian railway wagon builders
China may gain access to the fast growing Russian-railway wagon construction market as early as April.
Russian retail market needs innovation
Russia`s retail market has significant innovation potential, but this doesn`t always translate into reality, with at the annual Consumer 360 forum hearing that Russian companines need to become more innovative.
Warning on payments system
A new Federal draft law about a national payment system is ready for a second reading in the State Duma. Its intention is to provide for all information about non-cash payments to be processed within Russia and it has become the subject of heated debate.