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Legal Round Table: Developments in the Field

By Peter Spinella

... the Civil Code revisions and migration amnesty law currently under discussion, Russia's legal environment is constantly changing. The Moscow Times posed four questions by e-mail to four Moscow-based lawyers specializing in different fields about new developments in their areas of practice. From sweeping new regulations in industries such as pharmaceuticals to the Civil Code revisions and migration amnesty law currently under discussion, Russia’s legal environment is constantly changing....

Civil Code Draft Amendments. Land Plots for Construction Under Leases

By Alexey Konevsky / Pepeliaev Group

... number of limited real rights are introduced, an exhaustive list of which is set out in Article 223 of the draft Civil Code (the "Draft Civil Code"). These restrictions include a right of permanent possession of land (Chapter 20); a right to develop land (Chapter 201); servitudes (Chapter 202); a right of personal use and enjoyment (Chapter 203); mortgage (Chapter 204); a right to acquire another person's immovable property (Chapter 205); a right to transfer property (Chapter 206); a right...

New Cabinet Has Familiar Cast of Characters

By Anatoly Medetsky / The Moscow Times

... the rank of first deputy prime minister. He will be the only first deputy prime minister: Putin named no replacement for the other person with this rank in the previous Cabinet, Viktor Zubkov. In another organizational change, the Health and Social Development Ministry will be split in two, the Sports Ministry lost its “tourist” portfolio, and a new ministry was created to develop the Far East. Putin warned the new Cabinet that they faced a tough challenge amid global economic turmoil...

Making Money With Today's Retail Model

By Natalia Tischendorf / Jones Lang LaSalle, Russia & CIS

What are the latest trends in the retail real estate market, and why are the regions still so challenging for many developers and investors? Natalia Tischendorf National Director, Capital Markets Department Jones Lang LaSalle, Russia & CIS What are the latest trends in the retail real estate market, and why are the regions still so challenging for many developers...

Mid-Level Ready to Take In Tourists

By Peter Spinella / The Moscow Times

Tourism industry website TripAdvisor recently ranked Moscow fourth on its list of "15 destinations on the rise," and the Moscow government will invest $11 million into developing tourism in the city this year. The capital is also undergoing a massive beautification project to increase the total area of city parks fivefold in the next five years. Tourism industry website TripAdvisor...

Economic Forecast Held Hostage to Putin

By Irina Filatova / The Moscow Times

The Economic Development Ministry expects the country’s economy to grow 3.4 percent this year before expanding 4.7 percent in 2015, according to an updated version of the forecast that was approved at the Presidium meeting chaired by Prime Minister Vladimir Putin...

Regional Retail Market: Next Stop for Real Estate Investors in Russia?

By Konsantin Lysenko / CBRE, Russia

... shopping centers at fair prices will demonstrate to Russian and international players that liquidity and yield compression are back on the agenda of regional retail investment. Besides these new dynamics we expect will motivate the kickoff of a new development cycle for construction of modern quality retail schemes in cities with a population of 300,000 to 700,000. In three to five years, this trend will ensure both the expansion of retail chains and considerable growth of the volume of retail real...

Safety, Cost Meet Head On in Arctic Oil Race

By Irina Filatova / The Moscow Times

... reasonable and proper balance between the economy's interests and preserving the nature," he said. What's not clear is whether the fragile frozen environment will survive the onslaught of efforts to get at those resources. Rocky Road The Economic Development and Regional Development ministries are holding meetings on creating the Severodvinsk hub, which will include extensive infrastructure development, Arkhangelsk Governor Igor Orlov told a group of reporters last month. The two defense factories...

Certain, Leonard

... (Afghanistan)<br>Work: 1-864-558-3429 (VOIP in Afghanistan)</td></tr> <tr><td valign="top"><b>Desired Industry of Employment:</b></td><td>Industry / Manufacturing, Real Estate / Construction, Sales / Business Development</td></tr> <tr><td valign="top"><b>Employment history:</b></td><td><p><b>Operations Coordinator / Site Manager </b><br>ITT Exelis<br>Mid-level position...

Recovering Court Fees: Effective Tool to Make Judicial Administration Less Arbitrary

By Sergey Pepeliaev / Pepeliaev Group

... recover 2.89 million rubles from those authorities in legal costs for its representatives' fees. The appeal and cassation courts refused to grant an award for the costs in full, restricting the amount to 100,000 rubles. The same line of authority had developed in similar court decisions — the courts limited the 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...

Billionaires Gain Power in Deal for Hotels

By Lena Smirnova / The Moscow Times

The $982.5 million sale of four development properties, including two luxury hotels, is moving Bidzina Ivanishvili a step closer to becoming a presidential candidate in Georgia and the Gutseriyev-Shishkhanov family closer to seizing the luxury hotel...

Real Estate Prospects in Russia Promising

By Steve Openshaw / Deloitte CIS

The Russian real estate market was hit hard by the global economic crisis between 2008 and 2010. Growth has since returned to the market and looks set to continue, although global developments and local bureaucratic issues could create problems. Steve Openshaw Real Estate Group Leader Deloitte CIS The Russian real estate market was hit hard by the global economic crisis between 2008 and 2010. Growth has since returned to...

Bank's Top Managers Go for Extra Training

By Tatyana Martyanova and Anton Osipov / Vedomosti

In June, 500 of Sberbank's top managers will complete an advanced training course developed by INSEAD and the New Economic School. When they finish, another 500 will take their places. The bank foresees that no less than 85 percent of its management will participate in the program. In June, 500 of Sberbank's...

Airport Consolidation Moving Forward

Vedomosti

The government will announce a tender before the end of the month to select an independent foreign consultant to develop a strategy to consolidate state assets in Moscow's airports. The government will announce a tender before the end of the month to select an independent foreign consultant to develop a strategy to consolidate state assets in Moscow's...

Green on Green: Shipping Threatens to Trouble Baltic Waters

By Angelina Davydova and Ekaterina Glebova / Special to The Moscow Times

A boom in infrastructure development at the head of the Gulf of Finland near St. Petersburg is causing stress to the environment and risk of ecological disaster. More than three centuries after Peter the Great gave Russia access to the world by founding St. Petersburg as a...

Tethys Active in Uzbekistan

TASHKENT, Uzbekistan — Tethys Petroleum said it hopes to strike a deal with Uzbekistan this year to develop a highly prospective block, after winning the right to develop another oil field in the Central Asian nation. Tethys, listed in London and Toronto, said it hoped to sign a contract this year with Uzbekistan for rights to explore and develop a...

LUKoil Going to Iraq Alone, But Rosneft May Join It Elsewhere

Reuters

Russia's second-largest crude producer LUKoil will be able to develop Iraq's West Qurna-2 oilfield without partners, the company's president Vagit Alekperov said Friday. BARCELONA, Spain — Russia's second-largest crude producer LUKoil will be able to develop Iraq's West Qurna-2 oilfield without partners...

Companies Unfreeze Education Budgets, Still Seek Value

By Yelena Vinogradova / Vedomosti

... everything at once. Businesses continue to search out the most effective ways to raise the qualification and enthusiasm of their employees. The latest Training Index study conducted by the Malakut group of companies found that budgets for education and development returned to pre-crisis levels in 2011, reaching the magic indicator of 2 percent of the total salary fund, said Yekaterina Klestova-Nadeyeva, the director of Training Index. In 2010, these expenditures made up 1.15 percent of the total salary...

Putin: Russia Ready to Throw Weight Behind Breakaway Republics

The Moscow Times

During his first official meetings with foreign leaders as president, Vladimir Putin said Russia is ready to stand behind the breakaway republics of Abkhazia and South Ossetia, with particular attention to social and economic development. During his first official meetings with foreign leaders as president, Vladimir Putin said Russia is ready to stand behind the breakaway republics of Abkhazia and South Ossetia, with particular attention to social and economic development...

Total Still Expects Lead Foreign Investor Role in Shtokman

Reuters

New contractual terms for the development of Shtokman, Russia's giant Arctic offshore gas field, are to be agreed by the end of June, with a final investment decision put off until next year. PARIS — New contractual terms for the development of Shtokman...

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