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Business News

Nezavisimost releases report for 2011 and outlines its new plans for the future

The Nezavisimost Group's report for 2011 put its gross revenues, compiled according to IFRS, at RUR44.56bln, or 45% more than in 2010...

Most Russians support the calls to force bureaucrats to use locally made cars

If the poll is broken down along party lines, the most vocal supporters of this revolutionary idea were the Communist Party (71%) and Just Russia Party (70%)...


Favorit Motors Peugeot Showroom receives the Audience's Preference Choice Award

A total of 54 showrooms, including those of Audi, Bentley, Volkswagen, Ferrari, Maseratti, took part in the Best of the Best contest in 17 nominations...

Russia heeds Greenpeaces recommendation to slap a special fee on carmakers

Explaining the policy, First Deputy Prime Minister Igor Shuvalov called the fee a compensation, a barrier, to prevent used cars from flooding the Customs Union market...


QIWI and Home Credit Bank simplify credit repayment process

Commenting on this partnership, Alla Shishkina, the director of KIWI Banks Corporate Clients Department, noted that banks primary task is to expand the list of banks, whose services can be paid through QIWI...

Issue: April 2012, Vol.7, No.4     Author: Alex Freedmann
Tags: QIWI

Russian Venture Company turns into RVC after rebranding

Commenting on the rebranding, RVC CEO Igor Agamirzian stated that the new name demonstrates to the global innovative community that the company has changed, not only internally, but also externally...

Issue: April 2012, Vol.7, No.4     Author: Alex Freedmann
Tags: RVC

Quintiles and RVC Biofund to expand clinical development capabilities in Russia

Commenting on the agreement, RVC CEO Igor Agamirzian noted that RVC Biofund was established with the purpose of investing into biopharmaceutical companies and biotech start-ups...

Issue: March 2012, Vol. 7, No.3     Author: Edwards Johnson
Tags: RVC

Russian young business executives launch Leaders Club non-profit partnership

Artem Avetisyan, the club's president, said the organisation's membership comprises young people, who are not indifferent to Russia's fate...


Russias Grocery industry union to establish a national quality products seal

Maxim Protasov, the union's head, said the Quality Seal concept will be finalized either by the end of 2012 or early next year...

Alpari brokerage to simplify foreign assets investment procedures for Russian clients

The head of Alpari's Investment Products Department said the emergence of these products stems from the growing interest in foreign markets among Russian investors...

Issue: March 2012, Vol. 7, No.3     Author: Edwards Johnson
Tags: Alpari

Interior Ministry suspects fraud in Renovas purchase of a Trade Mission building

Viktor Vekselberg, the group owner, said bringing criminal charges against his company will be a big surprise for everyone in and outside the company...

Average growth rate of elite suburban cottages prices to reach 12% in 2012

The greatest demand is for properties located within 20-30klm from the Moscow ring road, where buyers were mostly interested in 300-400sqm houses worth $1mln-$2mln in 2011...


The volume of real-estate assets under construction in Moscow exceeds 1 trillion rubles

The main task facing the city in the construction sector, according to the deputy city mayor overseeing urban development policies, is to reduce this volume several times...

BMW does not intend to invest into new auto production plants in Russia

The BMW Group Russia CEO, however, also noted that the Kaliningrad-based BMWs Russia subsidiary, Avtotor, will produce 20,000 vehicles and increase its dealership centers in 2012...

Issue: March 2012, Vol. 7, No.3     Author: Inga Friedelhaus
Tags: BMW

Volvo sums up its Russia operations in 2011 and announces plans for 2012

The units' CEOs noted that in 2011 a special attention was paid to post-sales services to end customers, while their plans for 2012 include launching several new products...

Issue: March 2012, Vol. 7, No.3     Author: Inga Friedelhaus
Tags: Volvo

Russlavbank and Russian Standard Bank launch a new online payment service

The new facility's reak beauty is the relative ease and convenience of getting all banking services in one office within a walking distance from home or places of work...


VTB and Sberbank come under fire for fueling inflation and bank interest rates

Responding to CEOs complaints against Sberbank and VTB Group, Putin last month ordered the finance minister to fix the causes of unjustified growth of interest rates on bank loans for companies...

Issue: March 2012, Vol. 7, No.3     Author: Andrei Ivanov
Tags: VTB

Majority of Russias largest banks in dire need of generous recapitalization

According to S&P data, only a few of the largest Russian banks capitalization as at the end of 2010 could be classified as 'adequate' or 'more than adequate'...


Kremlin's 'Strategy 2020' meeting focuses on possible growth scenarios for Russia

The high profile conference, attended by top bureaucrats, industry experts and business schools execs, was devoted to macroeconomics, a key component of the strategy...

Issue: March 2012, Vol. 7, No.3     Author: Alex Freedmann
Tags: Medvedev