... information about Cyprus companies that have Russian subsidiaries, bank-client confidentiality is guaranteed in Cyprus. Nothing about this will change with the enforcement of the new protocol. Over the years, Cyprus has developed into a dynamic global business and financial center that offers specialized services and rewarding business opportunities catering for the diverse needs of international investors. Many members of the Russian business community have a presence on the island, and we expect...
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Chaika Creates Prosecutor for Business Rights
... recent appeal by President Vladimir Putin, General Prosecutor Yury Chaika has created a special division for upholding the rights of entrepreneurs, a statement by the General Prosecutor's Office said. The body will aim to ease administrative pressure on businesses, increase the responsibility of governmental structures in carrying out supervisory functions, ensure that market principles are being followed, and defend the rights of all entrepreneurs, prosecutor's office spokeswoman Marina Gridneva said...
Nationwide Hunt Begins for Business Angels
... No. 1 search engine Yandex, where she also serves as nonexecutive director. “The problem is finding the next group — entrepreneurs who were successful, sold and are now angel investors,” she said at a conference last week for the first-ever business angel week in Russia. Business angels are investors who not only finance entrepreneurial projects at an early stage, risking their own money, but also support the project with their business experience and contacts. Also attending the conference...
Research — Russian Business Process Outsourcing Market
Local and international companies have been using business process outsourcing services in Russia since the early 1990s. The first survey of the market was conducted only three years ago by the Russian rating agency Expert RA. The survey showed that the accountancy outsourcing sector was quite small...
Newsmaker: Businessman Sokolov Takes Over Transportation Helm
... in the St. Petersburg government's committee for investment and strategic projects, and later as chairman of the committee for economic development, industrial policy and trade. But according to his official biography, he has mostly been involved in business. He studied economics and later law at St. Petersburg University — the alma mater of many members of the current government — and spent much of the 1990s as a general director of ZAO Rossi which, according to its website, is a supplier...
Murmansk: It's Always Colder in Murmansk
... Murmansk was officially the last city created under the Russian empire. It was originally a railroad settlement on the Murman railway, built during World War I to stretch from Petrozavodsk to the potential naval base on the coast of the Barents Sea. Major Businesses Murmansk Shipping Company (15 Ulitsa Kominterna, Foreign Trade and Financial Service Division, +7 815-248-1033, en.company.msco.ru ), the largest shipping company working in the Russian Arctic, is responsible for 80 percent of cargo transported...
Q&A: Republican Entrepreneur Touts Obama's Reset
... grow back. There are also pictures of his Adygei wife, his children and a copy of recent research on Sergei Magnitsky. Though a stalwart of Moscow's expatriate community for more than 20 years, Sucher, 52, is looking to expand his philanthropic and business activities in the United States. He said he already spends two weeks out of every seven there. Bernard Sucher Education 1983 — BA in Business Administration with a focus on Russian and Soviet Studies from the University of Michigan 2001...
U.K. Chamber Gets Scottish Feel
The new director of the Russian British Chamber of Commerce plans to leverage his Scottish roots to outpace his rivals and bring British businesses to the Russian regions. The new director of the Russian-British Chamber of Commerce plans to leverage his Scottish roots to outpace his rivals and bring British businesses to the Russian regions. Edinburgh-born Alan Thompson was appointed...
Companies Unfreeze Education Budgets, Still Seek Value
Corporate expenditures on educating personnel have returned to pre-crisis levels, but that doesn't mean that companies are now ready to buy everything at once. Businesses continue to search out the most effective ways to raise the qualification and enthusiasm of their employees. Corporate expenditures on educating personnel have returned to pre-crisis levels, but that doesn't...
Legal Round Table: Developments in the Field
... enthusiasm, the number of anti-corruption lawyers has grown exponentially, especially in Washington. To my knowledge, I am the only full-time compliance lawyer in Moscow. My work consists of a) conducting internal investigations for companies whose business partners — or sometimes their own subsidiaries — are suspected of making improper payments; b) screening third-party business partners to ensure that the business partners do not expose our clients to involvement in bribery or other...
Efimov, Dmitry
....efimov@hotmail.com">dmitry.efimov@hotmail.com</a></td></tr> <tr><td valign="top"><b>Desired Industry of Employment:</b></td><td>Industry / Manufacturing, Management / Executive, Sales / Business Development</td></tr> <tr><td valign="top"><b>Employment history:</b></td><td><p><b>Sales Engineer</b><br>11/2010 – present time. Russian office of international...
Civil Code: New Risks and Opportunities
... a generation, with the introduction of new institutions and rules, as well as amending and updating many existing ones. Against a backdrop of numerous observations, criticisms, and perceived gaps in Russian legislation, from all quarters, including business, and countless vested interests, it was remarkable that just over three weeks later, on April 27, it was passed on the first reading with almost no change. These amendments come into effect from September 1 this year. Despite the hours of work...
Cyprus Will Remain a Valuable Partner for Russia
... recently agreed amendments to the double tax agreement between Russia and Cyprus will bring about the end of the special relationship between Russia and Cyprus, particularly in the commercial field, by closing tax loopholes hitherto exploited by Russian businesses. The argument that Cyprus will lose its attractiveness to Russian business following the changes to the double tax agreement is based on a dual misunderstanding concerning the changes themselves and the reasons why Russian businesses use Cypriot...
Cigarettes and Alcohol Occupy Pushkin Square
....5 percent alcohol from "nonstationary trade outlets" — legalese for kiosks. A separate bill proposed by the Health Ministry will forbid the sale of tobacco products from such venues and any shop smaller than 50 square meters. Small-business people say both bills are a thinly veiled attack on the sector. "Of course it's necessary to fight alcoholism and smoking. But that's not deterring smoking; it is handing supermarkets and chain stores a monopoly," said Natalya Kosheleva...
Irkutsk Governor Out, Prokhorov Ally In
President Vladimir Putin on Friday appointed a confidant of billionaire Mikhail Prokhorov as the acting governor of the Irkutsk region, where the metals magnate has a large gold-mining operation and other businesses. President Vladimir Putin on Friday appointed a confidant of billionaire Mikhail Prokhorov as the acting governor of the Irkutsk region, where the metals magnate has a large gold-mining operation and other businesses. Sergei Yeroshchenko...
Krasnoyarsk: Siberia's 'Beautiful Shore'
... daughters into rivers after they dared to thwart his will. The locals' idea of Yenisei is reflected in a sculpture in the city center that depicts the river as a brawny bearded man sitting on a rock and holding a sailing vessel in his right hand. Major Businesses Krasnoyarsk Aluminum Plant (40 Ulitsa Pogranichnikov; +7 391-256-3898; rusal.ru ) is one of the major facilities of the world's largest aluminum maker, RusAl. Krasmash (Krasnoyarsky Machinery Plant) (29 Prospekt Imeni Gazety Krasnoyarsky...
Kirk Talks Russia in Singapore
The Obama administration is working to stop the application of a United States law on Russia in a bid to help American businesses compete there and also wants China to open its market further The Obama administration is working to stop the application of a United States law on Russia in a bid to help American businesses compete there and also wants China to...
IKEA's Bank Coming to Finance Customers
... Friday that it was setting up a bank in Russia. The bank will be a 50-50 joint venture between the company, IKANO, and Turkey's Credit Europe Bank. The joint bank will start out by handling IKEA's finances in Russia, said Bo Liljegren, manager of IKANO's business finance division. It could begin operations next year after gaining regulatory approvals. The partners said Friday that they started the registration process. Later, the bank will also issue store cards, loyalty cards and credit cards and loans...
Cash Salary Payments Could Be Eliminated
... legislation that will require employers and stores to phase out cash transactions. In January, Finance Minister Anton Siluanov proposed to implement the "regulatory legal framework" for noncash payments. Exceptions would be made in the law for small businesses with less than 35 employees and businesses in remote locations. Legislation requiring stores to accept credit cards would exclude those that don't use cash registers and those with annual revenues of less than 2 million rubles ($65,000). The...
Recovering Court Fees: Effective Tool to Make Judicial Administration Less Arbitrary
... amount of costs to be recovered to one twentieth or thirtieth of the actual amount. However, the Presidium of the SAC on March 15 set a precedent, awarding the taxpayer its costs in full. This decision will become a precedent that benefits the whole business community. A person involved in business will be more eager to go to court to challenge the claims of state executive authorities than to solve the issues using corrupt methods. State authorities that are in the wrong will finally have to reimburse...
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