When Soviet President Mikhail Gorbachev stepped down 20 years ago, on Dec. 25, 1991, it ended the 70-year history of the Soviet Union and began Russia's transition to a market economy. Government control on the prices of consumer goods were lifted on Jan. 2, 1992, and within a matter of weeks, the planned economy, long lines and deficits became a thing of the past. When Soviet President Mikhail Gorbachev stepped down 20...

The anti-government rallies across Russia last month were an indication of the country's active economic development rather than political instability, and more protests are possible with the future growth of Russia's economy. The anti-government rallies across Russia last month were an indication of the country's active economic development rather than political instability, and more protests are possible with the future growth of Russia's economy, First Deputy Prime...

... economy did not grow by a single percentage point from 2008 to 2011, sparking a renewed flight of investment, as well as the country's most innovative minds. Of course, much of this was caused by the global economic crisis and even the most advanced economies experienced a slowdown. But over the same period, the economies of Russia's BRIC partners — China, India and Brazil — grew 31 percent, 26 percent and 11 percent, respectively, and the price of oil was, and still is, very favorable...

... than doubled to $84.2 billion, according to a preliminary estimate by the Central Bank. The ruble weakened 4.9 percent against the dollar to 32.1475. Putin says Russia needs to grow at least 6 percent a year to become one of the world's five largest economies and should be less reliant on energy exports. Retail sales jumped 7.2 percent in 2011, faster than a 6.3 percent increase in the previous year, as consumer prices rose at the slowest pace since the collapse of the Soviet Union two decades ago...

Europe is now haunted by the specter of debt. All European leaders quail before it. To exorcise the demon, they are putting their economies through the wringer. Europe is now haunted by the specter of debt. All European leaders quail before it. To exorcise the demon, they are putting their economies through the wringer. It doesn't seem to be helping. Their economies are still...

... state-controlled economy and society built in the aftermath of default on foreign debt offered a more viable alternative to cosmopolitan international capitalism. Both now face major problems with disillusioned populations. In short, the world's major economies share many more vulnerabilities than is commonly supposed. A response to global challenges based simply on schadenfreude may promote a short-term sense of well-being, as people often like to think how lucky they are to have escaped a mess that...

It is now increasingly clear that what started in late 2008 is no ordinary economic slump. Almost four years after the beginning of the crisis, developed economies have not managed a sustainable recovery, and even the better-off countries reveal signs of weakness. Faced with the certainty of a double-dip recession, Europe's difficulties are daunting. It is now increasingly...

... in Europe. The echoes of Russia's debt default in 1998 — which is now, fortunately, of mere historical interest as seen from Moscow — seem to reverberate worryingly in Europe. The numbers are ominous. Just this year, the three largest economies in the euro zone have $1.08 trillion in maturing public bonds that will have to be repaid or refinanced. Italy alone accounts for $428 billion. Its debt due is the equivalent of almost 100 percent of last year's exports estimated by the International...

Climate was a recurring theme at a forum Thursday with government officials and investors discussing Moscow's severe frost and the impact next month's presidential election will have on the business environment. Climate was a recurring theme at a forum Thursday with government officials and investors discussing Moscow's severe frost and the impact next month's presidential election will have on the business environment. But while the extreme cold doesn't seem to have reduced...

A military attack on Iran would trigger a "chain reaction" that could destabilize the world, and new sanctions over the country's disputed nuclear program would "stifle" its economy, hurting its people. A military attack on Iran would trigger a "chain reaction" that could destabilize the world, and new sanctions over the country's disputed nuclear program would "stifle" its economy, hurting its people, Foreign...

... it." Demands from opposition politicians and former Finance Minister Alexei Kudrin for new elections aren't "rational," Gref said. Unlike Europe, Russia hasn't reached the limit of its consumption and can help stoke demand as developed economies struggle. Even as the euro region grapples with a sovereign debt crisis, there's "nothing dangerous" for the ruble, Gref said. 179743

As of Jan. 1 this year, Russian business schools can no longer issue government-certified MBA diplomas to their graduates. The change comes out of a reform that will transfer the regulation of MBA programs from the government to civic organizations, which typically regulate such programs in the West. As of Jan. 1 this year, Russian business schools can no longer issue government-certified MBA diplomas to their graduates. The change comes out of a reform...

Ukraine's finance minister resigned Wednesday as support for the government has fallen in the wake of a waning economy and the slow pace of reforms. KIEV — Ukraine's finance minister resigned Wednesday as support for the government has fallen in the wake of a waning economy and the slow pace of reforms. President Viktor Yanukovych accepted Fyodir Yaroshenko's resignation Wednesday. No reason was given for his departure from the job he held since early 2010. Yanukovych's...

Shuvalov's comments came after two public rallies in Moscow last month, the biggest in about two decades, which prompted President Dmitry Medvedev to introduce bills in a bid to loosen the Kremlin's grip on the political opposition. Some protesters, however, demanded more, including new elections of the State Duma. First Deputy Prime Minister Igor Shuvalov, who led the Russian delegation at a global economic forum in Davos, condemned his country's political...

... average of more than 20 percent each year — double the rate of inflation. Their share of gross domestic product has rocketed from 29 percent to 39 percent. That now places Russia in the same league as relatively high-spending, high-tax European economies rather than low-tax emerging markets such as China and India. The challenge for Putin, assuming he takes office in May as appears highly likely, will be to squeeze revenues out of an economy that is already stuttering under a mounting tax burden...

... managing director for real estate in Africa, said last week in an interview in Nairobi. Renaissance Group is taking advantage of sub-Saharan Africa's economic growth, an expanding urban middle class and a real estate market where supply lags demand. The economies of the region are projected to grow 5.5 percent in 2012, the second-fastest after Asia, the International Monetary Fund said Jan. 24. The region's economies grew 4.9 percent last year, it said. Tatu City, about 14 kilometers north of Nairobi...

... lucrative.   The World Bank is supporting the real estate market in Russia as a key catalyst of economic development, according to Anna Georgieva, the World Bank’s Russia Environmentally and Socially Sustainable Sector coordinator. In developed economies the real estate sector accounts for 20 percent of GDP, she said. 418277 179742

Russia's credit rating outlook was lowered to stable from positive at Fitch Ratings as political uncertainty spurs capital flight and threatens plans to wean the economy off its dependence on energy exports. Russia's credit rating outlook was lowered to stable from positive at Fitch Ratings as political uncertainty spurs capital flight and threatens plans to wean the economy off its dependence on energy exports. "Political uncertainty in Russia has risen...

A World Bank survey has warned of the fragility and heightened risks facing the global economy in 2012, and highlighted the vulnerability of emerging markets, including Russia. A World Bank survey has warned of the fragility and heightened risks facing the global economy in 2012, and highlighted the vulnerability of emerging markets, including Russia. The organization on Wednesday downgraded its Russia gross-domestic-product growth forecasts for 2012 to...

Ireland, one of the countries worst hit by the financial crisis, is looking to boost its economy by attracting Russian tourists to its shore, and Wednesday the Irish Embassy presented a sales pitch for its country to local tourist firms. Ireland, one of the countries worst hit by the financial crisis, is looking to boost its economy by attracting Russian tourists to its shore, and Wednesday the Irish Embassy presented a sales pitch for its country...