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Articles by Derek Andersen
news
Court Leaves VimpelCom's Hands Tied
The Moscow Arbitration Court declined Wednesday to hear VimpelCom's appeal of interim measures restricting the Russian company's activities while a lawsuit...
news
RusAl in $850M Finance Deal With Chinese Bank to Build Siberian Factory
United Company RusAl and the Export-Import Bank of China have signed a cooperation agreement on a RusAl greenfield project in Eastern Siberia worth...
news
Newsmaker: Scholarly Belousov Viewed as Putin's Chief Economic Ally
Dapper, gray-haired Economic Development Minister Andrei Belousov, 53, had a distinguished academic career before entering full-time public service.
news
Russia Abroad: In Ethiopia, Russian Is the Language of Healing
Addis Ababa is home to the last Russian Red Cross outpost abroad, a remnant of a network that, in its Soviet heyday, included locales such as Pyongyang...
news
Petersburg Native to Head Realtor Group
St. Petersburg realtor Alex Romanenko has been elected president of the International Real Estate Federation, which unites 100 national real estate associations...
news
Kaku Helps Rostik Celebrate 30 Years
Rostik Group president Rostislav Ordovsky-Tanayevsky Blanco celebrated his company’s 30th anniversary by inviting about 300 “partners, friends and...
news
Survey Shows Details of Urban Life
The conventional wisdom that "Moscow is not Russia" is confirmed by a recent Cushman & Wakefield report on retail facilities and spending around the country...
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Moscow's Luxury Real Estate Rankings Could Use Improvement
Moscow made a mediocre showing in the Global Cities Survey by international luxury real estate agency Knight, but the firm sees an upward trend in the...
news
Bank of Moscow Boss Says He's Left Russia
Bank of Moscow president Andrei Borodin has left the country amid growing speculation that he might face fraud charges in connection with a loan that investigators...
news
Food Businesses Cater to Startup Spirit
A catering business, just like any self-employment in Moscow, isn't for the lax. For creative individuals willing to work hard, catering offers opportunities...
news
Mortgage Risk, Russian-Style
Being invited to a bank board member's barbeque is a better indicator of whether his institution will give you a mortgage than your actual credit history...
news
Mistral Construction In Russia, But Not by Pugachyov
A new shipyard will be constructed on Kotlin Island, 32 kilometers off St. Petersburg in the Baltic Sea, in order to build two Mistral helicopter carriers...
news
What Lies Ahead After a Year of Thieving
The 2010 annals of corruption stories took a creative twist this week when the public learned that Moscow's metro chief is also a talented inventor.
news
U.K. to Scrutinize Firms With Russia Ties
International companies doing business in Russia will be subject to greater scrutiny by the United Kingdom beginning in April, when a draconian anti-corruption...
news
PepsiCo to Invest $250M in Azov
PepsiCo is setting up a $250 million ecosystem of farming and production in the southern city of Azov, opening a new potato chip plant and laying the cornerstone...
news
Troika Exec Arrested at JFK in Fraud Case
Troika Dialog global markets division head Peter Ghavami has been arrested in the United States on a fraud charge. The charge against him is related to...
news
RusAl Picks Partners For Listing
RusAl said Wednesday that it chose Sberbank as the issuer and VTB Capital as its advisor for the first-ever Russian Depositary Receipts.
news
Overflight Fees Could End With WTO
Russian airlines look ready to weather the loss of hundreds of millions of dollars of overflight fees from European airlines. An agreement to eliminate...
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Russian Railways Signs $2Bln Italian Venture
Russian Railways and Italian conglomerate Finmeccanica said they had signed a memorandum of understanding on the creation of a joint venture to develop...
news
United Russia Claims Food Price Reduction
A specialized group created by the United Russia political party has claimed that it succeeded in reducing basic food prices. People's Oversight "has proved...
news
Kudrin Wants Privatization Fund
Finance Minister Alexei Kudrin proposed creating a reserve fund of proceeds from privatization, interest from which could be used to plug budget gaps,...
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More Spring Crops, Less Poultry Needed
The government will halve the quota on poultry imports next year and wants farmers to sow 25 percent more spring crops to meet the demand after a severe...
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China Starts to Trade Yuan Against Ruble
The ruble joined the ranks of foreign currencies traded in Shanghai on Monday as Prime Minister Wen Jiabao arrived in St. Petersburg for a three-day visit...
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Reluctant Kudrin Defends Tax Hikes
Finance Minister Alexei Kudrin garnered praise for his candor when he spoke Friday at a tax conference, but his words made few happy: Business will pay...
news
Nokia Agrees to Join Skolkovo Center
Nokia committed on Wednesday to open a research facility at the Skolkovo high-tech innovation center being set up outside of Moscow, with a memorandum...
news
Chichvarkin Offers IPO Assistance
Former Yevroset co-owner Yevgeny Chichvarkin would be happy to lend a hand in the company's upcoming initial public offering, he said in an interview published...
news
Daily Moscow Commute Gets Longer
Forty percent of Muscovites spend more than an hour each way commuting to work or school, according to a survey by the state-run VTsIOM polling agency...
news
Daimler Investigation Opened
The Investigative Committee of the Prosecutor General's Office said Friday that it is opening a corruption case related to purchases of Mercedes-Benz automobiles...
news
Mitsubishi Revives $1Bln Tatarstan Fertilizer Factory
Japan's Mitsubishi Heavy Industries said that it would build a $1 billion fertilizer plant in Tatarstan for a state-owned Russian company, reviving a deal...
news
U.K. Firm Will Make Lighting
British lighting equipment producer Abacus announced plans Wednesday for its Russian unit to build a plant in St. Petersburg next year as the country is...
news
$18.6Bln in Remittances Left in 2009
The World Bank ranked Russia fourth for 2009 among countries whose foreign residents transfer money abroad. The United States came in first, followed by...
news
U.S. Targets Bribes in Russia, Again
Russia figures again in the U.S. administration's latest anti-corruption case, which has cost a Swiss logistics company and its clients a total of $236...
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Russia Lags in Fixing Business Conditions
Russia slipped in the latest annual ranking of business-friendly countries because its neighbors were more vigorous in improving conditions for businesses...
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Foreigners Take the Lead in Green
Western companies are a major force behind the spread of corporate ecological consciousness in Russia, as they try to apply their standards in local operations...
news
Fishing to Get $13Bln Overhaul
The commercial shipbuilding industry is in dire straits — with a shrinking fleet and little domestic manufacturing — and requires $12.8 billion in...
news
Putin's Baby Boom Spurs Importers
Thanks to a demographic blip and some help from the state, the birthrate is rising in Russia, and the market for children's products is following suit...
news
Yukos Assets Under Dispute Following Dutch Ruling
The Amsterdam Court of Appeals has ruled that it would not recognize the 2007 sale of Yukos Finance BV, a Dutch corporation, by Russian court-appointed...
news
Gazprom Neft Pushes Into Lubricants
Gazprom Neft said Tuesday that it began construction on facilities for the mixing, packaging, storage and shipment of automobile and industrial lubricants...
news
Mikhalkov Looms Over Copyright Fight
Film director Nikita Mikhalkov is looming over a dispute about collecting fees on imported electronic devices and recordable media, which may be worth...
news
Uranium Deal Faces U.S. Objections
Russian uranium producer Atomredmetzoloto maintained a calm front Friday in the face of objections by powerful U.S. legislators to a deal that would give...
news
India Will Order Up to 345 Warplanes
Indian Defense Minister A.K. Antony announced on Thursday that his country would make hefty purchases of military aviation produced jointly with Russia...
news
Pay TV Faces Modest Growth
Pay television executives have predicted that the industry will remain modest as many households are unwilling to accept bills for the service. A major...
news
IKEA Will Focus on Existing Investments
IKEA is changing its strategy in Russia to focus on existing stores rather than expansion to more sites, new IKEA CEO for Russia Per Wendschlag said. No...
news
Senator Pugachyov's Bank Goes Bust
International Industrial Bank, one of the country's top commercial banks, closed its doors Tuesday after the Central Bank revoked its license. The bank...
news
Foreign Executives to Sit Down With Putin
Chiefs of major international firms will meet with Prime Minister Vladimir Putin on Oct. 18 at a session of the Foreign Investment Advisory Council, the...
news
Construction Sector Votes for New Path
The Russian construction industry set the course for its future Thursday in contentious elections held by its highest self-regulatory body. Yefim Basin...
news
U.K.-Irish Firm to Revamp Museum
Moscow's Polytechnical Museum is about to begin its transformation into a modern science center after a British-Irish firm won a competition to produce...
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TNK-BP Serious About Vietnam
TNK-BP intensified its involvement in Vietnam on Wednesday by signing a contract for oil deliveries and discussing deals on a Vietnamese oil refinery and...
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Canada's Nordion Turns to Rosatom for Isotope
Canada's MDS Nordion, a provider of products and services for health science, is trying to certify a rare medical isotope that it agreed to buy from a...
news
Hu Touts A ‘New Start’
President Dmitry Medvedev and Chinese President Hu Jintao opened an oil line connecting the two countries, as they met for the fifth time in the past year...
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Putin Stays Up Late for Amur Highway Opening
Prime Minister Vladimir Putin held a videoconference in the early hours of Friday morning to congratulate Transportation Minister Igor Levitin and a group...
news
Putin Vows Bright Arctic Future
The Arctic region has a bright and peaceful future with a growing Russian presence, Prime Minister Vladimir Putin said Thursday at an international conference...
news
Companies Eye Brazilian Energy Sector
Representatives from Russia and Brazil have agreed at an oil and gas conference in Rio de Janeiro to explore Russian participation in the Latin American...
news
Rival Builders Battle For Key Industry Job
Administrative procedures in the Russian construction industry could come closer to world practice, after a battle over leadership of a regulatory group...