Russia optimistic despite crisis
Russia`s economy could return to positive growth by the end of the year, now that the initial shock of the financial crisis hitting the nation has eased, Igor Shuvalov, the first deputy prime minister, has said.
Russian government approves 2009 economic stimulus plan
The Russian government has approved in general an economic stimulus plan for 2009, Economic Development Minister Elvira Nabiullina told reporters Thursday.
This will be the year of rest and rally
BAD START, GOOD FINISH FOR 2009
Banks are going to "fatten"
Up to January 1 2010 all Russian banks are to raise their net worth to 90 mln rubles, in 2 years - to 180 mln rubles.
Russia to cut oil exports, raise domestic consumption - Sechin
Russia will cut oil exports and increase domestic oil consumption in a bid to stabilize world oil prices amid the ongoing financial crisis, Deputy Prime Minister Igor Sechin said on Sunday.
Russia`s oil output down 1.9% to 575 mln bbls in Jan.-Feb.
Russia`s crude oil output declined 1.9% in January-February to 78.5 million metric tons (575 million barrels), Deputy Prime Minister Igor Sechin said on Sunday.
Russia`s anti-crisis package to hit 12% of GDP in 2009 - Putin
The Russian government`s spending on anti-crisis measures will reach 12% of GDP in 2009, Prime Minister Vladimir Putin said on Thursday.
AvtoVAZ changes payment scheme to deter halts in production
Russia`s leading carmaker AvtoVAZ will give up its current payment scheme and pay suppliers in cash in 2009 to prevent production disruptions, the plant said, citing its president.
Russia to spend $45.6 bln to balance budget in first half of 2009
Russia will spend 1.6 trillion rubles ($45.6 billion) of its reserve funds to balance its budget in the first half of 2009, the government website said on Wednesday.
Russia, Libya sign warship contract worth up to $200 mln
Libya has signed with Russia a contract worth up to an estimated $200 million to buy three missile boats, a Russian military journal reported on Tuesday.
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.