Support The Moscow Times!

India, Transport Cards: Business in Brief

India to Discuss Joint Fund

Russia and India are discussing establishing a joint high-tech investment fund, Russian Deputy Economic Development Minister Alexei Likhachev was quoted as saying by the RIA Novosti news agency on Tuesday in New Delhi.

Likhachev said that the proposal calls for $1-2 billion of equal contributions to establish the fund. The proposal will be further discussed at a meeting of the Russia-India intergovernmental commission on Nov. 5.

Beyond the high tech investment fund proposal, the working group approved a number of joint projects, including a telecommunications satellite project operated by Russia's private space firm Dauria Aerospace and India's Aniara Communications. (MT)

Moscow Introduces New Transport Card

From Nov. 1, Moscow will begin to sell three- to seven-day transport passes offering unlimited rides, allowing tourists and business travelers to avoid the hassle of buying set numbers of trips during their visits to Moscow, news agency RIA Novosti reported.

The new tickets were created so "guests of our city may more comfortably use our city transport," the agency quoted city transport department head Maxim Liksutov as saying.  

Liksutov added that Moscow was following the lead of other European cities by introducing the tourist-friendly system.  

Unlimited ride tickets will cost between 400 and 800 rubles ($10-$20) and can be used on the metro, buses, trams and the monorail.

One ride on Moscow's metro costs 40 rubles, with no options available for unlimited ride cards outside of one-day and 30-day options. (MT)

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.