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Renovations Key for Luxe Hotels to Compete

When the Ararat Park Hyatt opened in Moscow 10 years ago, it was one of a very small group of luxury hotels in Moscow. Facing ever-increasing competition...

As Business Becomes More Civil, So Do Its State Relations

"Roofs" with criminal connections or extravagant lifestyles, common in the 1990s, are being replaced by worldly technocrats and former government officials...

4 Dead, 49 Missing After Far East Oil Rig Sinks

At least four people died when the floating Kolskaya oil rig overturned and sank with 67 people on board in the stormy Sea of Okhotsk as it was being...

Light Will Shine on State Procurement

As Russia awaits the World Trade Organization's final approval in Geneva on Friday, compliance with obligations to make government procurement more...

Business Group Sees Need for New Party

Kaliningrad businessman Andrei Demchuk was found on the bank of a lake a little over a year ago, bound and shot dead. The gun was nearby as well...

Scorecard for Regional Investment

Russia's regions are in a heated competition to see which can attract more investment dollars, from both local and foreign businesses.

Corruption Drops Slightly In '11

Russia's reputation for graft has improved, jumping 11 spots in watchdog Transparency International's annual corruption perception index of countries around...

Bashkortostan Makes Up Lost Time

After years of closing the republic to outsiders, attracting foreign investment is now a priority for the Bashkortostan government, forced for the...

Investment Estimated at $36Bln

Foreign direct investment in Russia reached $36 billion in the first 10 months of the year, Prime Minister Vladimir Putin said Monday during a meeting...

Draft Law Might Add to Foreigners' Taxes

On top of relocation fees and higher salaries, companies could face insurance fees for foreign workers starting next year. The proposal would add a 10...

Arms Upgrade Begins With Recycling

Prime Minister Vladimir Putin ordered the military-industrial complex to form a special commission to oversee government contracts and spending on defense...

'Reset' With U.S. Continues at APEC

The "reset" between Russia and the United States appeared to be in full force at the annual Asia-Pacific Economic Cooperation conference, held in held...

Party Faces Social-Funding Quandary

Recent suggestions by United Russia members on dealing with illegal migrant labor and the pension fund deficit have been regarded as unrealistic, or...

Microsoft Ups Startup Support

Russian startups have good news to look forward to. The Skolkovo Fund and global software giant Microsoft will increase support for innovative projects...

Human Trafficking Increasing at Home

Lax laws and poor enforcement make Russia a popular source for people forced into slave labor and prostitution, a leading international expert on human...

Russia Rises in Bribery Score, Still Last

Russian businessmen are most likely to give bribes in commercial deals abroad, compared with businessmen from other large economies, according to the just-released...

Expats Growing in Number as Profile Evolves

When Missouri native Brad Hicks, 40, found out his employer, international manufacturing and technology company Emerson, had an opening in Moscow, he...

Russia, CIS Will Grow, EBRD Says

Russia and CIS economies will continue to grow amid a slowdown in Eastern Europe brought on by the euro-zone crisis, according to a report from the...

Khodorkovsky May Be Investigated for Money Laundering

Jailed former Yukos CEO Mikhail Khodorkovsky may be investigated for money laundering, a German news report said. A money-laundering case against Khodorkovsky...

Bashkortostan Farmer Pioneers High-Tech Dairy

Artur Nurgaliyev pointed to a group of black-and-white spotted cows feeding out of a trough on his farm near Ufa, the capital of the Bashkortostan...

Victoria's Secret Counting On Women's Rubles

U.S. chain Victoria's Secret is poised to take a portion of the $11.2 billion lingerie and cosmetics market, celebrating its arrival in Russia with a store...

Q&A: How Coca-Cola Chief Copes With Pressure

The hectic pace of business in Moscow and day-to-day management stress is pressure enough, but when Coca-Cola announced earlier this week that it plans...

Coke Adds $120M to Its Life in Russia

Soft-drink giant Coca-Cola opened a $120 million factory in Rostov-on-Don on Monday designed to serve the 2014 Sochi Olympics. The new facility is...

Expat Golf League Blends Business and Pleasure

Alexander Smirnov, clad in yellow pants and a checkered blue and red sweater, looked up angrily as he swung his golf club. A couple was talking quietly...

Russians Spend More, Travel Independently

Russian tourists took a record 60 million trips abroad in the first half of this year, spending a record amount of money via their credit cards, according...

High Court Pitches In to Explain Tax Rules

Plans to lower Russia's deficit are in the works, even though it is already lower than the 2.7 percent of gross national product predicted earlier...

Up to a Third of Consumer Items Fake

Knockoff Chinese Jin Ling cigarettes from Kaliningrad, Italian Asti wines actually made in the CIS and Bavarian car parts made in Podolsk imply a certain...

Q&A: Singapore's Tay Sees Mutual Lessons in Business With Russia

At first glance, Russia and Singapore could not be more different. One is huge and the other tiny, one is mostly rural and undeveloped while the other...

Danish Queen Reviews Pumps and Circumstances During 5-Day Tour

Elaborate orchestration marked the visit of Queen Margrethe II of Denmark, clad in a bright pink suit and matching pillbox hat, to a new facility...

KFC Swallows Rostik's and Expands

A white-haired colonel from the American south officially replaced a white bird as the symbol of fast-food fried chicken in Moscow, as U.S. chain KFC announced...

Ski Resorts in North Caucasus Bring Both Hope and Doubt

The North Caucasus region is a new multibillon-dollar frontier in real estate and tourism. Driving to the mountains of the Arkhyz valley, cattle and horses...

Banks Under Investigation for Violating Debtor's Privacy Rights

The number of complaints to the Federal Mass Media Inspection Service by debtors claiming that banks have breached privacy laws grew from 90 for all...

Fake Diplomas No Longer Buy a University Education

Filipp's high school grades were so bad that he stopped going. After a few months he decided to make a fresh start in college. Re-enrolling in high...

VIP Helicopter Crashes at Hoopla for Caucasus Ski Resort

Government officials, company executives and journalists headed Tuesday to a ceremony celebrating the construction of a ski lift at the Arkhyz resort...

Kim Endorses Trans-Korean Pipeline

North Korea's reclusive leader Kim Jong Il gave the green light to the construction of a trans-Korean gas pipeline during talks with President Dmitry...

Smoke Clears as Laws and Marketing Shift

Smoke breaks in stairwells, between cars on commuter trains and just about everywhere else are a common sight all over Russia, which has more smokers...

Diplomat Held Hostage Over Firm’s Debt

A Russian diplomat and the head of a Russian bathroom fixture company have been freed after being taken captive over a $500,000 debt by angry factory...

Made in the U.S.S.R. Is Now Made in China

Twenty years ago, Moscow's Izmailovsky Park was a place where artisans and antique collectors got together on weekends to mingle, have a drink and maybe...

Home Improvement Thrives on DIY

The do-it-yourself mentality runs deep in the Russian soul, as evidenced by the $14 billion in estimated sales of renovation materials, equipment...

Svyaznoi Not Afraid of IPO in 2012

Undaunted by competitor Yevroset's unsuccessful IPO attempt, Svyaznoi, the country's No. 2 mobile phone retailer, could hold an initial public offering...

Web Stores Sued Over Data Leaks

An independent consumer rights watchdog has sued 10 of about 80 online stores whose customers' personal information became available last week on the...

Companies Teach Russians Western Ways

Soviet women washed dishes with soda and salt for decades, while men never heard of deodorant and teens scrubbed their pimples with soap and water...

Lack of Privacy Won't Hamper Yandex

The recent privacy fiasco will not affect Yandex growth and revenues, which should more than double this year after a stellar initial public offering...

Medvedev Sees Reform Success

The investment climate in Russia is changing for the better, President Dmitry Medvedev said at a meeting with state court justices Tuesday. The meeting...

Business Forum Links Innovators With Investors

Displair, an Astrakhan-based company that develops interactive players that show videos in free air instead of a screen, will be meeting with several...

Campbell Finds It Can't Break Tradition

After four years in Russia, iconic American soupmaker Campbell announced that it is giving up. The reason for Campbell's departure may lie in Russia's...

Stereotypes Fuel Jackson-Vanik

In Washington it's an uphill struggle to change perceptions of Russia, as many American lawmakers remain ignorant of the economic, technological and infrastructural...

Sexy Russian Wendy Surprises Wendy’s

The Wendy's models who greeted reporters outside the U.S. hamburger chain's first Russian restaurant didn't resemble your traditional, wholesome Wendy...

EU Envoys Coming to Discuss Vegetable Ban

A European Commission delegation will visit Moscow in the coming days to negotiate the lifting of Russia's ban on EU vegetables, spokesman for the...

How to Arrange a Rendezvous With the President

Chief executives vie to meet President Medvedev and Prime Minister Vladimir Putin because getting noticed by the country's two most powerful men can lead...

EU Vegetables Banned Over E. Coli

The ban on vegetable imports from the European Union, introduced by Russia on Thursday, will not have a lasting impact on the market, but may cause...

Russia Signs OECD Anti-Bribery Convention

Russia took a major step forward in its three-year effort to join the Organization of Economic Cooperation and Development on Wednesday when it...

Medvedev Takes Step Toward Reforming Legal System

President Dmitry Medvedev said Friday that he has signed a decree ordering the Justice Ministry to monitor law enforcement and the execution of court...

Russian Rule of Law Being Imposed by British Courts

President Dmitry Medvedev's efforts to stamp out "legal nihilism" and improve the rule of law — including the proposal to make communications with...

Experts Defend Price of Roads

A panel of government officials and experts met for the first time Wednesday in an attempt to dispel the idea that road building is so corrupt that...

Market Emerging for Islamic Finance

Islamic finance may debut this year in the Tatarstan republic in the form of sukuk, or bonds that, in accordance with Islamic law, do not charge interest...

Brick Factory Funds an Obscure Sport

Taking a quirky Central Asian sport to the Olympics is no easy task. But the newly elected president of the remade International Belt Wrestling Association...

U.K. Bribery Act Raises More Questions Than It Answers

The U.K. Bribery Act should be a concern for the nearly half a dozen Russian companies entering or preparing to enter the British stock market, experts...

Reduced Social Tax Will Increase Investment, Decrease Evasion

Lowering the social tax is necessary for business growth, will reduce "gray" economic activities and facilitate more investment, experts said. The recent...

Nestle Witness to 140 Years of History

Nestle is “covered in chocolate,” as the Russian saying about success goes. The leading international chocolate and food producer celebrated its 140th...

Retailers Up Focus on Regions, Customers

The changing consumer and regions outside of Moscow and St. Petersburg are the keys to retail growth, a panel of experts said Tuesday at Consumer...

U.S. Franchise Sees Healthier Eating

Research by frozen yogurt chain Pinkberry, which shows that Russians are increasingly inclined to watch what they eat, helped convince the company to open...

Acrimony Over Lenta Supermarket Continuing

Scandal erupted among shareholders of St. Petersburg-based supermarket chain Lenta on Tuesday, when reinstated deputy director Dmitry Kostygin, his bodyguards...

Credit Ratings Fall, Governance Stays Steady

Credit ratings fell for Russian businesses during the financial crisis but corporate governance remained stable, industry experts said Friday at a round-table...

Direct Sales Revenue and Reputation Up

Direct sales, also known as multi-level marketing, is a $3 billion business in Russia and growing fast, with companies like Amway, Avon, and Herbalife...

McDonald's Forgoes Franchising, For Now

McDonald's, one of the biggest franchisers in the world, will continue to directly own all of its Russian restaurants for the near future, according...

New Tax Hampers Small Businesses

Entrepreneurs worry that small business faces a dismal future after an increase in taxes and utilities at the start of this year. The increased tax...

Leisure Boating Market Sees Signs of Recovery

Russia's pleasure boat market is showing signs of recovery after a two-year lull. The fourth annual Moscow Boat Show features 166 Russian and international...

Business Ethics Get Codified

Business ethics are improving in Russia, on paper at least. More local companies are emulating Western standards and adopting ethics codes to help...

Class-Action Petition Sent to Aeroflot

Lawyer Sergei Litvintsev took extra time off from work to celebrate the New Year's holiday in Egypt with his family, but the vacation got off to an...

Police Deny Protection of Illegal Casinos

There are no Moscow police protecting illegal casinos, Andrei Andreyev, head of the Main Directorate of the Interior Ministry, announced Tuesday.

Contract Labor Bill Could Be Revised, Ministry Says

The much-contested bill to outlaw contract labor needs to be amended to accommodate market concerns before the State Duma can consider it, Health...

Grocery Chains Grow as Recovery Sets In

As the nation emerges from the recession, the dynamic energy of the food retail business can be seen around the clock. More and more outlets have...

Individual Charity Donations Increasing

Philanthropy experts see a growing trend of Russian individuals providing charitable assistance to their countrymen. In the last 10 years, more than 300...

'Smart' Consumer Now Has More Control

British economists used to joke that the Russian consumer would find a popular Western brand, buy 10 items and then brag about it to friends. But times...

Low Trust, High Rates Stifle Growth

Russia’s elite are the least likely out of 22 nations to trust their country's business institutions. Only 41 percent expressed confidence in businesses...

Blacklisted, Mavrodi Is Defiant

Convicted swindler Sergei Mavrodi is not worried after the Federal Anti-Monopoly Service determined his new financial pyramid scheme is a fraud.

Kotova First to Lose Immunity at EBRD

Yelena Kotova, the official accused of corruption while representing Russia on the board of directors of the European Bank of Reconstruction and Development...

Economic Freedom Falls Short

Despite moving up three spots from last year's rating because of minor improvements in fiscal policy, monetary freedom, corruption and labor practices...

U.S. Sees Norway as Uneasy With Russia

Recently released WikiLeaks cables reveal U.S. government opinion that underneath Norway’s friendly public approach to Russia, fears are growing.

Whereabouts of $4Bln Is Classified

The protection of “strategic interests, defense capability and state security” is the reason now given by the Audit Chamber for classifying the results...

Police Call Mavrodi’s Scheme Legal

Police on Tuesday confirmed the legality of convicted fraudster Sergei Mavrodi’s plan to create a new investment scheme, MMM-2011, while other officials...

New MMM Offers 20% Returns

If you are wondering where to invest your Christmas bonus, Sergei Mavrodi, founder of the MMM financial pyramid that collapsed in the 1990s and defrauded...