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Russia is betting on a gambling and entertainment zone near its eastern port city of Vladivostok to lure investors who have spent big bucks on casinos that cater to Asian gamblers in the likes of Macau and Singapore, in particular...
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Foreign Firms' Security Service Raided
14 May 2012
By Alexander Bratersky / The Moscow Times
Police have raided a company that provides private security to major Western firms like IKEA and Procter & Gamble in what its founder, State Duma Deputy Gennady Gudkov, called punishment for his support of anti-Kremlin protests. Police have raided a company that provides private security to major Western firms like IKEA and Procter & Gamble...
Top Cop Demands Duma Deputy be Punished for Reaction to Raid
30 May 2012
The Moscow Times
... left-leaning A Just Russia party, has said that the raid was carried out in retaliation for his vocal support of opposition protests. The security agency was founded in 1992 and works with several large international clients like Ikea and Procter & Gamble. It is the main source of income for Gudkov's family. Kolokoltsev said in the letter to Naryshkin that Gudkov had "publicly threatened" police officials conducting the investigation at his office and had promised to organize a protest...
Renault Secures Control of AvtoVAZ
4 May 2012
Reuters
... "Today's memorandum is the latest step in an expanding collaboration that helps modernize the leader of Russia's auto industry," Ghosn said in the statement. With his original $1 billion acquisition of a 25 percent AvtoVAZ stake in 2008, Ghosn was gambling that he could transform the struggling firm into a profitable volume manufacturer by injecting modern, low-cost vehicle technology developed for Renault's Dacia Logan vehicle family. Painstaking progress was complicated further by the economic...
Renault Reverses Itself in AvtoVAZ Relations
5 May 2012
By Howard Amos / The Moscow Times
... at the last minute in 2009. The 2008-09 financial crisis was the catalyst that made the government finally decide to exit AvtoVAZ, Rozhkov said. Eyeing the huge potential in domestic car sales, it was Renault's head Carlos Ghosn who won the right to gamble on the Russian auto industry, beating other contenders including U.S. General Motors, Germany's Volkswagen, Italy's Fiat and Canadian car-parts manufacturer Magna. Despite the strained relationship and the slow appearance of the joint Renault-AvtoVAZ...
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