business in Russia

Sovcombank to buy Uzbek state bank

Sovcombank to buy Uzbek state bank

Major Russian private Sovcombank intends to acquire Uzagroexportbank. Thus, 100% of the unprofitable enterprise will be sold by Uzbekistan. "At the moment, the parties are negotiating on the terms of the deal. Several million …

Siemens and Russian Railways to develop high-speed train

Siemens and Russian Railways to develop high-speed train

Siemens and Russian Railways have signed a contract on the development of a high-speed train to be used at the Moscow-St. Petersburg high-speed line starting 2028, President of Siemens Russia Alexander Liberov said. "We together …

Russia to invest $1 bln in the Armenian economy

Russia to invest $1 bln in the Armenian economy

Russia plans to invest $1 billion in the Armenian economy in the near future, Deputy Economic Development Minister Dmitry Volvach said at a briefing on Tuesday on the sidelines of the 8th Armenian-Russian Interregional Forum. "Our …

Business optimism rises in Russia

Business optimism rises in Russia

Optimism rises among Russia's large and medium-sized business owners as their pessimism has dropped to 4%, according to a Deloitte study. It is noted that this indicator has fallen to an absolute low since the beginning of 2015. …

Russia's Magnit to acquire Dixy retailer

Russia's Magnit to acquire Dixy retailer

Russian food retailer Magnit MGNT.MM has reached an agreement to acquire 100% of shares in the Dixy retail chain, including 2,651 of its stores in Moscow, St Petersburg and other regions, Magnit said on Tuesday. The deal price …

Another low-cost airline to be created in Russia

Another low-cost airline to be created in Russia

S7 Airlines plans to create a low-cost airline, Vedomosti informs with a reference to three sources in the aviation industry. An S7 representative also confirmed this information. "At present, the S7 Group is negotiating with …

Russia's State Duma proposes to abolish VAT

Russia's State Duma proposes to abolish VAT

The value added tax (VAT) should be abolished in Russia, first deputy chairman of the State Duma Commission on Small and Medium-Sized Businesses Nikolai Arefiev said in an interview with the Rossiya-1 television channel. "I …

Aeroflot announces start of share offering

Aeroflot announces start of share offering

Aeroflot Russian Airlines has officially announced the beginning of an offering of up to 1.7 billion new shares. "PJSC Aeroflot today announces the launch of a capital increase by placement of up to 1,700,000,000 new ordinary …

Rashid Ismailov becomes VimpelCom president

Rashid Ismailov becomes VimpelCom president

The board of directors of Russian mobile operator VimpelCom, working as Beeline, has appointed former Deputy Digital Development Minister Rashid Ismailov as the company’s president, the operator said on Wednesday in a statement. …

U.S. slaps more Russia's Prigozhin-linked sanctions

U.S. slaps more Russia's Prigozhin-linked sanctions

The United States has imposed fresh sanctions on the interests of an influential Russian businessman close to President Vladimir Putin. The State Department announced that it sanctioned five companies connected to Yevgeny …

Mishustin orders to prepare exit strategy for entrepreneurs

Mishustin orders to prepare exit strategy for entrepreneurs

Russian Prime Minister Mikhail Mishustin issued a number of new instructions to the relevant departments to resolve the situation with coronavirus and support the population. The Prime Minister instructed to prepare an exit strategy for …

Forbes names Russia's richest businesman

Forbes names Russia's richest businesman

Forbes magazine has compiled the rating of 200 richest Russian entrepreneurs, topping the list is head and beneficiary of Norilsk Nickel Vladimir Potanin with a fortune of $19.7 billion (up from the 6th place with $18.1 billion). …