Support The Moscow Times!
Contribute today

GAZ 2011 Net Soars

By The Moscow Times

GAZ recorded a fourfold rise in net profit in 2011 to 8.5 billion rubles ($274.87 million) and expects to achieve similar financial results in 2012, the company said Thursday.

The van maker forecast in November that full-year 2011 net profit would come at 3.5 billion to 4.0 billion rubles after it earned 2.1 billion rubles in net profit in 2010.

A revival in demand after the 2008-09 crisis drove revenues up 37 percent year on year to 132.4 billion rubles, while EBITDA increased 64 percent to 13.97 billion rubles. According to the Association for European Businesses, GAZ's sales rose 17 percent in 2011.

(Reuters)

… we have a small favor to ask.

As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just 2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Continue

Read more

circumstances unclear

U.S. Citizen Killed in Moscow-Held Donetsk – Russian Media

Russell Bentley, 64, was known to have fought with Moscow-backed separatists in eastern Ukraine and had been given Russian nationality.
1 Min read
'nuances'

Russian Officials Face Restrictions on Foreign Trips, Kremlin Confirms

The confirmation comes after a Reuters report said Russia's stricter travel rules were linked to fears of foreign powers gaining access to state secrets...
2 Min read
tone deaf

Russian Official Resigns Over Son’s Viral Bali Vacation Video

“Some ask me, ‘Ilya, will you ever come back to Perm?’ ... Why the hell would I want to be in Perm?” regional official Alexei Dyomkin's son said...
1 Min read
reported retaliation

Russia: We Told Israel ‘Iran Does Not Want Escalation’

The Kremlin also said Friday it was looking into the reports that Israel carried out a strike on Iran and urged all sides to exercise "restraint."
2 Min read