Russian steelmaker Severstal posts 10% net profit growth in 2008
Leading Russian steelmaker Severstal said on Wednesday its net profit under International Financial Reporting Standards increased 9.9% in 2008 year-on-year to $2.03 billion.
Russia`s richest woman seeks $1.4 bln state bailout
The construction giant Inteko, owned by Russia`s richest woman, has put in a request for 49 billion rubles ($1.4 bln) in state guarantees, saying it is unable to refinance its spiraling debt, a leading business daily said.
Russia to cut oil export duty to $108 from April 1 - ministry
Russia will cut its oil export duty from the current $115.3 to $108-$112 per metric ton from April 1, a Finance Ministry official said on Tuesday.
Tour operators are disappearing in Russia
Number of Russian tour operators will significantly reduce. More than 700 tourist companies are to stop their business this year. Decline of demand and changes in law are the reasons.
Russia restricts investment from Reserve Fund
Russia`s Finance Ministry has imposed restrictions on the use of the country`s Reserve Fund, permitting only investments in debt instruments of foreign states and international financial institutions, the ministry said on Thursday.
Russian carmaker AvtoVAZ delays restart of production line
Leading Russian carmaker AvtoVAZ said it had postponed the re-launch of its main production line, scheduled for Thursday, until further notice.
Russia`s oil exports down 3.6% in January
Russia`s crude oil exports declined 3.6% year-on-year in January to 18.64 million metric tons (136.7 million barrels), the Federal Customs Service said on Thursday.
Kazakhstan, Russia sign contract on S-300 air defense systems
Kazakhstan has signed a contract with Russia on the purchase of S-300 air defense missile systems, the Kazakh defense minister said on Wednesday.
Russia`s AvtoVAZ halts production until further notice
Russia`s leading carmaker AvtoVAZ has halted its main assembly line until further notice due to problems with suppliers, the company`s press office said on Wednesday.
Shopping centres are turning into museums
Large shopping centres will become empty soon. Financial crunch makes most shops resided there leave and probably forever.
Medvedev: Gazprom to demand prepay if Ukraine fails to pay for gas
Russia`s natural gas monopoly Gazprom will require Ukrainian oil and gas company Naftogaz Ukrainy to prepay for gas imports in the future if it fails to make the next payment for gas, Russian President Dmitry Medvedev said in an interview with Spanish reporters, as cited by ITAR-TASS.
Mortgage is dangerous for life
Mortage and Home Equity Lending Agency is to abandon obligatory life and employability insurance of their borrowers. This kind of insurance is obligatory in most credit organizations, but this Agency is going to make it volantury. We remind that this issue draw increased attention of some establishments.
Russia-Italy trade up by half to exceed $50 billion in 2008
The turnover in trade between Russia and Italy in 2008 increased by over half to exceed $50 billion, a Russian presidential aide said Friday.
Russia to spend some $2.8 bln to tackle unemployment
Russia will spend some 100 billion rubles ($2.8 bln) to tackle rising unemployment in the country amid the global financial crisis, the health and social development minister was quoted as saying on Friday.
Russian monetary base up $1.1 mln in week to $106 bln
Russia`s Central Bank said on Friday the country`s narrowly defined money supply (M1) was 3 trillion 781.8 billion rubles ($106 billion at the current exchange rate) as of February 24, up 40.6 billion rubles ($1.1 million) in the week since February 16.
Dollar down 0.18 kopeks, euro down 7.37 kopeks - Central Bank
The official dollar rate set by the Russian Central Bank for February 28 - March 2 is 35.7205 rubles, down 0.18 kopeks from Friday, the Central Bank said.
Russia`s foreign debt down 8.8% to $40.5 bln in 2008
Russia`s foreign debt, including the former Soviet debt, dropped by 8.8% or $3.9 billion year-on-year to $40.5 billion in 2008, the Foreign Ministry said on Friday.
Russia to grant Armenia $500 mln loan - PM Putin
Russia will grant Armenia a $500 million loan following approval by the lower house, the Russian prime minister said Friday.
Russia, Iran to sign 10-year nuclear fuel supply contract
Russia and Iran are planning to sign a nuclear fuel supply contract for a term of at least 10 years, the head of Russia`s nuclear power corporation said on Wednesday.
Russia, Iran to sign 10-year nuclear fuel supply contract
Russia and Iran are planning to sign a nuclear fuel supply contract for a term of at least 10 years, the head of Russia`s nuclear power corporation said on Wednesday.
Gazprom may cut gas to Ukraine over non-payments - newspaper
Russian energy giant Gazprom could cut gas deliveries to Ukraine from March 8 if Naftogaz does not pay for supplies received in February, Russian business daily Kommersant reported on Thursday.
Russia announces completion of Iran`s first nuclear power plant
Russia has completed the construction of Iran`s first nuclear power plant at Bushehr and is launching start-up operations, the head of Russia`s nuclear power corporation said on Wednesday.
Cheap car loans are not for everybody
Putin’s staff introduced a new plan of russian automotive industry reanimation. It has not been very popular with the buyers even before the crisis and now it has nearly stopped the production.
Russia`s Medvedev pledges stable ruble rate amid crisis
Russia`s Central Bank believes the current ruble exchange rate to the U.S. dollar and euro reflects its real market rate and will prevent its sharp fluctuations, Russian President Dmitry Medvedev said Sunday.
Russia`s stock market rallies on Bernanke`s comments
Russia`s two main stock exchanges, MICEX and the RTS, opened on Wednesday with their key indexes going up after comments by U.S. Federal Reserve Chairman Ben Bernanke.