Safmar group of billionaire Mikhail Gutseriev confirms earlier reports and will acquire MediaMarktSaturn electronics retailer owned by the German Ceconomy, Vedomosti daily said on June 20 citing both companies.
A delegation from Moscow-based multilateral lender the International Investment Bank (IIB) visited Budapest on June 18 as it prepares to set up its new European unit in the Hungarian capital, the bank said in a statement.
If Donald Trump signs a reconciled version of the bill, 100 stealth jets earmarked for Ankara may be held back.
Russia's statistics bureau Rosstat surprised analyst by significantly revising its previous series on industrial output, with industrial growth rate increasing by strong 1.4pp year-on-year on average in the period of January 2017 and April 2018.
Afraid of falling behind its erstwhile rival, Russia's second-largest bank VTB Bank is negotiating a joint venture with Chinese e-commerce major Alibaba, Vedomosti daily said on June 19 citing unnamed sources close to the deal.
Some Russian regions will not be financially capable of maintaining their 2018 FIFA World Cup facilities in the long run after the tournament is over, Fitch said in a report.
After more than two decades of “wild cat” banking, the dead wood and dodgy banks have largely been expelled from the sector, which is starting to look increasingly “normal”, but there is still a lot of work to do.
Slovenia is the only East European country among the top 10 in terms of gains to GDP per capita due to globalisation, a study from German foundation Bertelsmann finds.
Russia's state holding Rosneftegaz, that holds the government shares in oil major Rosneft, will switch to paying dividends twice a year, and will pay out at least 50% of its net profit in keeping with the Ministry of Finance’s orders.
In an early policy win for Finance Minister Anton Siluanov, Russia is preparing a major change in how it taxes oil. The second phase of the so-called “tax manoeuvre” will shift the tax burden entirely upstream and cut export duties to zero.
Dmitry Medvedev’s government pushed through the long discussed but sensitive decision as part of the Kremlin’s drive to raise fresh revenues to meet President Vladimir Putin’s proposed RUB8 trillion spending extravaganza.
The board of the Central Bank of Russia resolved on June 15 to keep the key interest rate unchanged at current 7.25%, citing this week's government's decision to hike the VAT rate to 20% as the main reason for further postponing monetary easing.
The biggest five banks in Russia account for eight out of ten rubles lent to home buyers and mortgage loans were up over 80% in the first four months of this year.
Uncertainty surrounds the Central Bank of Russia (CBR) monetary policy meeting on June 15, as analysts can’t agree on if the regulator will cut rates by 25bp from current the 7.00% or leave them on hold.
What better time than the eve of the World Cup for Vladimir Putin to reshuffle his team? However, if his tweaks of the Presidential Administration are anything to go by, he no change in direction is needed. He'd better think again.
Crops in Russia and Ukraine have been hurt by hot dry weather that may reduce the the harvest this year and prices have already started to rise.
Denmark is the last hold out in Europe to give permission for the construction of the controversial Nord Stream 2 pipeline after the Swedish government became the latest EU country to sign off on construction permissions for the Russian gas pipeline.
Russian stocks are paying the highest dividend yields in the world, and the stocks of the most generous companies handsomely outperform the leading indices.
Tourism contributed 18.8% of Croatia's GDP in 2016 and that ratio is expected to soar this year after investments in new terminals at the country's main airports, found a report from consultancy network UHY.
Astana has $13bn of deals to celebrate but summit again showed Russia and China’s struggle for influence in the ‘Stans’ is far from settled.