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Swiss Move Into Open Caviar Market

Bloomberg

... the engineer charged with diverting runoff water from a rail tunnel under the Bernese Alps when he remembered a 1995 trip to Moscow's Bolshoi Theater and his first bite of caviar. Maybe the warm geothermal streams could feed Switzerland's first sturgeon farm, producing Alpine caviar to rival Russian brands that dominate the market. Peter Hufschmied was the engineer charged with diverting runoff water from a rail tunnel under the Bernese Alps when he remembered...

U.S. Commerce Reshuffle Could Benefit Russia

Combined Reports

... recycling used industrial and motor oils and the used plastic components of computer hardware and cartridges. The U.S. government is moving employees to higher-priority markets like Russia from trade desks at U.S. embassies in seven countries, from Switzerland to Venezuela. It is the biggest overhaul since President Barack Obama took office. Officers working to promote U.S. exports in Algeria, Ecuador, Kazakhstan, Libya, Senegal, Switzerland and Venezuela also will be moved to such markets as China...

Yanukovych Defends Tymoshenko’s Conviction

The Associated Press

Ukraine's president showed no mercy Friday for imprisoned former Prime Minister Yulia Tymoshenko, despite increasing fears that her case will hurt his country's struggling economy and its relations with the European Union. DAVOS, Switzerland — Ukraine's president showed no mercy Friday for imprisoned former Prime Minister Yulia Tymoshenko, despite increasing fears that her case will hurt his country's struggling economy and its relations with the European Union. The gas...

For the Record

Russia's Direct Investment Fund is looking at acquiring assets in countries including Germany, Italy and Britain, said the head of the fund, Kirill Dmitriyev, in Davos, Switzerland on Thursday. (Bloomberg) Russia's gold and foreign exchange reserves rose to $499.7 billion in the week to Jan. 20 from $497.1 billion a week earlier, Central Bank data showed Thursday. (Reuters)

What You Need to Know on 2012 Tax Changes

By Maureen O'Donoghue

... efficiency ratings are determined under Russian law. Unfortunately, the Tax Code does not specify which of the possible energy ratings will be considered "high" for this purpose. Protocols to Russia's tax treaties with Cyprus, Luxembourg and Switzerland do not have effect in 2012 unless ratification procedures in each case are completed in each of the two contracting states and instruments of ratification were exchanged by the end of 2011. In the case of the protocol to the Russia-Cyprus...

Tax Discrimination Against Foreign Investors in Russia

By Julia Alexandrova / Pepeliaev Group

... to reduce the number of benefits granted by international double tax treaties. This trend directly affects foreign entities investing in their Russian subsidiaries by making loans. Protocols have already been signed to the tax treaties with Cyprus, Switzerland and Luxembourg to allow for national thin capitalization rules to be applied, such rules limiting the interest that may be deducted by a Russian borrower and providing for the remaining interest to be reclassified as dividends (Article 269(2)...

New Lada Line to Premiere

... with the French company and its partner Nissan Motor to boost their stake in Russia's largest automaker. The first of the new Lada models should roll out of the assembly line at the end of February, AvtoVAZ chief executive Igor Komarov said in Davos, Switzerland, last week. AvtoVAZ will later produce Nissan-branded cars on the same line, allowing AvtoVAZ to boost output to as many as 750,000 cars and kits this year, after selling about 730,000 last year, according to Komarov. (Bloomberg)

VEB Eyes RusHydro Stake

... year earlier. RusHydro had net finance income of 366 million rubles this year, compared with costs of 3.11 billion rubles a year earlier. Revenue fell 34 percent to 197 billion rubles. Vneshekonombank chief executive Vladimir Dmitriyev said in Davos, Switzerland, late last week that the bank may acquire a 10 percent share in RusHydro. VEB may spend 64 billion rubles to acquire treasury shares in the company. (Bloomberg)

Chechen Team Boss Arrested

NEUCHATEL, Switzerland — Neuchatel Xamax has slipped from crisis into shame and near-oblivion, as its Chechen owner was arrested hours after declaring the club bankrupt. Bulat Chagaev was detained by authorities in Geneva late last week. They had been investigating...

No Libel in Deripaska Dinner

... European banking dynasty, accused the newspaper of damaging his reputation. He said he would appeal the ruling. The newspaper said Rothschild flew the then-European Union Trade Commissioner Peter Mandelson from the 2005 World Economic Forum in Davos, Switzerland, to Moscow, seeking to impress aluminum billionaire Oleg Deripaska by unexpectedly bringing Mandelson to a dinner with bosses from U.S. aluminum company Alcoa. High Court Judge Michael Tugendhat said Rothschild was "seeking to please"...

Theater

... Tuesday, February 21st MT Pick A Profitable Post (Dokhodnoye Mesto): Konstantin Raikin’s strikingly modern version of Alexander Ostrovsky’s drama about corruption and sexual politics. Satirikon Theater. 7 p.m. New Alice’s Trip to Switzerland (Puteshestviye Alisy v Shveitsariyu): Lukas Barfuss’ play about people traveling to Switzerland to commit suicide legally, and about a doctor who wishes to help them. Stars Olga Yakovleva and Yelena Morozova. Playwright and Director...

Finance Ministry Still Waiting For Shtokman Tax Paperwork

Bloomberg

... surging shale gas output has since removed the need for imports, forcing the partners to review the project. Sergei Kupriyanov, a Gazprom spokesman, didn't reply to a phone call and a text message seeking comments. Sergei Vykhukholev, a spokesman for Zug, Switzerland-based Shtokman Development, said he wasn't immediately able to comment. The Finance Ministry may discuss the tax breaks and make a decision ''if they bring all their calculations tomorrow," Shatalov said. "If they don't submit anything...

IWC Goes to Embassies, Ritz

By Madeliene Grieve / Special to The Moscow Times

... to be transported to a Venetian carnival for the night Friday at their 16th annual Embassies of the World Dinner and Ball. The evening begins with cocktails and dinner courtesy of the embassies of Columbia, the EU, Hungary, Iceland, Iraq, Sri Lanka, Switzerland and the United States, who have volunteered their support. "The night is completely one of a kind. Different ambassadors open the doors of their residences and welcome our guests," said the club's president Anu Trigunayat, "This...

Navalny Nominated For Aeroflot Board

By Roland Oliphant / The Moscow Times

... Evening Standard newspapers and with Mikhail Gorbachev has a stake in the opposition Novaya Gazeta newspaper, has been publicly critical of the current government. Writing on his blog Monday, he appealed to Navalny to investigate the involvement of Switzerland's Wegelin bank in a murky deal involving Yelena Baturina, wife of former Moscow Mayor Yury Luzhkov. 417712 179742

Confidence in Euro Buoys Rate Forecast

Reuters

The Central Bank is unlikely to cut interest rates in the near term and will find it difficult to meet its 5 percent to 6 percent inflation target in the second half of this year. DAVOS, Switzerland — The Central Bank is unlikely to cut interest rates in the near term and will find it difficult to meet its 5 to 6 percent inflation target in the second half of this year, a senior official said. First Deputy Chairman Alexei Ulyukayev...

Possible Eurobond Tax Alarms Businesses

Combined Reports

... would generally result in an additional 20 percent tax payment,” the banker said. Issuers would face “serious losses” from the tax, Vladimir Dmitriyev, chairman of state development bank Vneshekonombank, said in an interview in Davos, Switzerland, on Friday. “Banks will take a consolidated stand on that proposal,” he said. “It’s important to understand what is behind it, who will compensate them for the 20 percent loss.” Changes to budget legislation will...

Political Plurality Spotted At Davos

By Anatoly Medetsky / The Moscow Times

... Minister Vladimir Putin. The way the state functions in Russia is "backward" and "one-dimensional," Shuvalov said at a business breakfast hosted by Russia's biggest lender, state-controlled Sberbank, at the World Economic Forum in Switzerland. "Russia deserves a different political system," he told the audience that included Societe Generale chief executive Frederic Oudea. Shuvalov's comments came after two public rallies in Moscow last month, the biggest in about two...

6 Developing Strategic Themes in the Russian Tax Environment and What You Should Do About Them in 2012

By Andrey Shpak / Goltsblat BLP

... recent cases (the "substance over form" approach in Severny Kuzbass and Naryanmarneftegaz thin capitalization cases, permanent establishment attacks in Bloomberg and CMS, signing of information exchange protocols with Cyprus, Luxembourg and Switzerland, applying a look-through approach for ownership of strategic enterprises by Russian owners through foreign vehicles, etc.) may be indicative that the Russian authorities are increasingly looking at the global best practices in combating tax...

Lyashenko, Ksenia

... service: - Outdoor sales, marketing and PR, - Presentations to corporate customers - Documents translation (English-Russian), compilation of clients archive, - Full cycle of Agreement conclusion. Business trips: - Zurich, Switzerland – trainings on different topics: reservation systems (Carido, Swiss Worx Champion course), Dangerous goods and Live animals training, Advanced Sales Seminar, Negotiations training, Presentation skills, - Romania, Poland, Austria...

Efimov, Dmitry

... of clients database; budgeting; participation in calculation of retail market prices and discount programs. 12/2006 – 06/2007 – The Moscow representative office of the company "Georg Fischer Piping Systems" (Switzerland). Company's direction of activity: production and sales of plastic piping systems. Post: Industrial Sales Manager. Functions: search for a direct clients; work with dealers; plastic piping systems marketing research;...

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