The Central Bank left key interest rates unchanged Thursday, holding its refinancing rate at 8 percent, the fixed one-day repo rate — a de facto ceiling for money-market rates — at 6.25 percent, and the overnight deposit rate at 4 percent. The Central...

... Development Minister Tatyana Golikova said Thursday. From January to March of this year, 486,600 people died in Russia, a 3.3 percent decrease compared to the same period in 2011, Golikova said, Interfax reported. But the figure still outpaced the birth rate, as it has annually for more than a decade. President-elect Vladimir Putin and outgoing President Dmitry Medvedev have both identified Russia's demographic situation as one of the biggest challenges facing the country. In one of Putin's campaign...

... outlooks on Azerbaijan's long-term foreign and local currency Issuer Default Ratings, or IDR, to stable from positive and affirmed them at BBB-. "The windfall character of Azerbaijan's oil income — especially by comparison with similarly rated oil producers — puts a premium on its ability to save a large share of oil revenue," says Charles Seville, director in Fitch's sovereign team. The revision of the outlook to stable better reflects Fitch's view on the likely direction...

The Finance Ministry’s latest proposals on luxury taxes put the rate for real estate at 0.05 percent to 0.3 percent, while owners of cars with engines of 410 horsepower or more will also be paying more — a rate that will affect less than 2 percent of all cars in the country. Correction appended The Finance Ministry’s...

... between Russia and other partners being able to be resolved using procedures within the WTO framework. After Russia becomes a member of the WTO (the necessary legal procedures for this are expected to be completed by the end of the summer of 2012), the rates of duty may not be established at a rate higher than is set by Russia's obligations to the WTO. This fact is causing apprehension among many Russian producers that their goods will not be able to compete with imports. In actual fact, by the end...

... taxes in some other areas. As part of the package, the Cabinet approved steady increases of the tax on natural gas production that will affect both the cash cow Gazprom and smaller rivals not controlled by the state. The government will also raise the rate of the vehicle tax to charge more from owners of Maybachs, Mazerattis and similar models that have more than 410 horsepower, Deputy Economic Development Minister Sergei Shatalov said. About 20,000 cars will come under the new rate, he estimated....

Oil-to-telecoms conglomerate Sistema has mandated banks to arrange a series of international investor meetings from May 2, which might lead to a eurobond sale. Oil-to-telecoms conglomerate Sistema has mandated banks to arrange a series of international investor meetings from May 2, which might lead to a eurobond sale, three sources told Reuters on Wednesday. "The size is not big, about $300 million to $400 million," one source said, adding that the company was...

Vozrozhdenie, a top 30 Russian lender, said Tuesday that its first-quarter net profit rose 66 percent to 526 million rubles ($16.9 million), adding that its net interest income before provisions was 2.15 billion rubles in the first three months of 2012, up from 1.36 billion rubles in the same period last year. (Reuters) Russian-Israeli commercial property developer AFI Development, controlled by diamond dealer Lev Leviev and generating much of its income from the AFIMall City shopping mall in Moskva-City...

... than 25 percent of total expenditures. Recovering property markets will also contribute positively to capital revenues. S&P sees the city's financial predictability and flexibility as being severely limited because the federal government regulates tax rates and shares and distributes responsibilities to different layers of government. Wealth levels are still only slightly above the Russian average, the agency said. "The city's economy suffers from low productivity, especially in the industrial...

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. Few companies offer such services, and only about a dozen provide such services on a large scale. Olga Kapralova PR & Marketing Manager Intercomp Global Services Local and international companies...

Sberbank whizzed past Mobile TeleSystems to become the strongest Russian brand in the world, according to an annual global brands ranking. The nation's largest bank was among the fastest risers on the list, jumping 25 spots to 74th place. Sberbank whizzed past Mobile TeleSystems to become the strongest Russian brand in the world, according to an annual global brands ranking. The nation's largest bank was among the fastest risers on the list, jumping 25 spots...

... possible to find a cottage for the summer season, which lasts till October. Tenants' activity has accelerated this year due to a recovery in people's incomes after the 2008 crisis, Varvarina said. Notably, tenants of high-end property with average rates between $10,000 and $15,000 per month — a segment that has not shown high activity in recent years — have come back to the market, she added. Zhukova said rates for summer cottages remained at last year's level, with most dachas being...

... management, however, Moscow hotels are showing strong operational results and year-on-year growth. In 2011, Moscow hotels showed a 3.5 percent increase in occupancy (64.5 percent in 2011 vs. 62.3 percent in 2010), a 5.8 percent increase in the average daily rate and, subsequently, a 9.4 percent increase in RevPAR (revenue per available room). Moscow hotels finished the first quarter of 2012 with similar results: RevPAR growth is at 9.5 percent, but the year has mainly been driven by a 6.2 percent increase...

... reported Tuesday, but overall pirating is down. The cost of the software illegally used worldwide in 2011 reached a record $63.4 billion, the report said. In 2010, that figure was estimated at $58.8 billion. Among developing countries, the highest piracy rate was in China — 77 percent. Its inhabitants used illegal software worth $9 billion last year, while sales of legitimate software in the country did not exceed $3 billion. China was followed by Russia and India. In India, the piracy rate in 2011...

The media in Russia is "not free," due to the government keeping overall control of the sphere and clamping down on certain news outlets, organization Freedom House said Wednesday in its annual press freedom rankings. The media in Russia is "not free," due to the government keeping overall control of the sphere and clamping down on certain news outlets, organization Freedom House said Wednesday in its annual press freedom rankings. The group ranked Russia 172 out of 197 countries...

The World Bank assessed the transportation and logistics capacity of the world's countries and ranked Russia 95th out of 155. The World Bank assessed the transportation and logistics capacity of the world's countries and ranked Russia 95th out of 155. The World Bank published the rating in the survey Connected to Compete. Russia ranked between Guinea-Bissau and Lebanon, while its partners in the Common Economic Space were higher, with Kazakhstan in 86th place and...

... this process, the written approval of the Cypriot attorney general is needed for its disclosure, thus preventing the misuse of the current legislation and discouraging any type of "fishing" expeditions by the tax authorities. Withholding tax rates will remain at the same low level for investments of 100,000 euros ($127,000) and above — 5 percent for dividends, zero percent for interest and zero percent for royalties. Nevertheless, there is the added benefit that distribution from mutual...

... Norwegian preservation expert Terje Nypan. During the auctions, investors bid for 49-year leases to historic mansions, houses and estates owned by the city's property department. The winners are those companies or people who offer the highest rental rate per square meter per year, with the starting bid not less than the market rate, according to the regulations posted in January on the website of the Moscow Department of Cultural Heritage, or Mosgornaslediye. Winners have up to five years to restore...

Higher advertising rates and record viewing figures at two of its channels pushed up net profit and revenue at Russian broadcaster CTC Media beyond expectations in the first quarter. Higher advertising rates and record viewing figures on two...

The head of independent pollster the Levada Center said President Vladimir Putin's attractiveness to the public is not only shrinking, but the damage is irreversible. The head of independent pollster the Levada Center said President Vladimir Putin's attractiveness to the public is not only shrinking, but the damage is irreversible. In public perception, "the image of Putin is fading steadily and irreversibly," Levada Center director Lev Gudkov told Kommersant in an article published...