Kazakhstan launches investments projects exceeding $1bln
Kazakh Invest launched 22 investment projects amounting to $1.1 bln this year, the press service of the government of Kazakhstan said after the …
manufacture in Russia
SOCAR and Tatneft explore joint venture
The State Oil Company of Azerbaijan (SOCAR) and Russia's PJSC Tatneft are discussing the possibility of establishing a joint venture for the production of lubricants, General Director of SOCAR RUS Rufat Mahmud said. …
Iran presents automotive innovations at exhibition in Moscow
The International MIMS Automobility Moscow 2024 event has kicked off in the Russian capital with the third consecutive year of participation by Iranian automobile companies. The exhibition was opened at the Expo Center in …
Russian economy growing faster than expected - Mishustin
The Russian economy is growing faster than previously forecast, Russian Prime Minister Mikhail Mishustin said at a meeting with Head of the Federal Tax Service Daniil Egorov. "Our economy continues to grow faster than …
Avtovaz to set up assembly of Lada cars in Azerbaijan
Russian carmaker Avtovaz is in talks to establish semi knocked down (SKD) assembly of Lada cars in Azerbaijan, Avtovaz head Maxim Sokolov said. …
Hyundai plant in St. Petersburg: in operation or closed?
The Hyundai plant in St. Petersburg is back in operation after a two year break, the press service of the enterprise said. "The …
Russian dealer closes deal on Mercedes-Benz assets acquisition
Avtodom has closed the deal on acquisition of Mercedes-Benz assets in Russia, the company said on Tuesday. "On April 25, 2023, the Avtodom group of companies announced the completion of the transaction on the purchase of Russian …
Azerbaijan to import livestock products from 23 more Russian companies
More than 20 Russian livestock enterprises have obtained the right to export to Azerbaijan, Russia's Federal Service for Veterinary and Phytosanitary Supervision (Rosselkhoznadzor) said. "The Food Security Agency of Azerbaijan, …
West discuss price caps on Russian petroleum products - report
The United States and its Western allies are preparing fresh sanctions on the Russian oil sector, including a cap on refined petroleum products, the Wall Street Journal reported, citing people familiar with the plans. U.S. Treasury …
Holcim divests business in Russia
Holcim said on Wednesday it would exit Russia, adding that the business there would then operate independently under a different brand. Holcim sold its Russian unit to the local management team, it added. The sale will have no …
Russia and Iran looking to build civil aircraft
Moscow and Tehran are considering setting up joint ventures in Iran that would allow them to design and build airliners with 100 seats and fewer, Iranian Deputy Industry Minister Manouchehr Manteghi reportedly said Tuesday. Manteghi was …
Avtovaz: production of Lada Vesta model to restart in March 2023
The restart of Lada Vesta model production is planned in March 2023, President of the Russian automaker Avtovaz Maxim Sokolov said during the parliamentary hearing in the Council of Federation, the upper house of the Russian parliament. …
U.S. may block Russian aluminum imports
The Biden administration is weighing restricting imports of Russian aluminum as it charts possible responses to Moscow's military escalation in Ukraine, a person briefed on the conversations told Reuters. "We're always …
Avtovaz to increase Lada Granta, Niva production rates
Avtovaz plans to increase the speed of Lada Granta and Lada Niva production lines to 50 and 38 cars per hour, respectively, President of the Russian car manufacturer Maksim Sokolov said in an interview aired by the Rossiya-24 TV news channel on …
Italian automotive concern Iveco leaves JV with Russia's AMT
Italian automotive concern Iveco has left a joint venture assembling trucks with Russia's AMT, Iveco CEO Gerrit Marx said on Wednesday. "We've transferred our share in the joint venture in Russia to our former partner …
Volvo starts laying off employees in Russia
Volvo Group has begun laying off employees at its Russian divisions to adapt to the changed circumstances, the company's press service told Interfax. The conditions on which employees will be laid off and the number of layoffs are …
ArcelorMittal resumes steel supplies to Russia
ArcelorMittal, the largest steel producer outside China, resumed steel supplies to Russia through Kazakhstan in June, a source in Russia’s metals industry told TASS. "Mainly hot-rolled mill products [are supplied to …
Turkish company Archelik to acquire Indesit International JSC and Whirlpool Rus LLC
Turkish home appliance manufacturer Arcelik signed an agreement with Whirlpool to acquire its Russian assets in the form of Indesit International JSC and Whirlpool Rus LLC, the company said on Tuesday. It was noted that the amount of …
Putin says government must support domestic car industry
Russian President Vladimir Putin ordered his government to quickly come up with new measures to support the domestic car industry. "I would like to ask the government to tell us in detail what swift measures it is taking to support …
IKEA to sell factories in Russia, retail business to remain stopped
IKEA will sell its four factories in Russia and leave the retail business in the county stopped, which will result in a reduction of workforce, the company said in a statement on Wednesday. "Businesses and supply chains across the …
