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Business

CORONAVIRUS RECESSION

Coronavirus Sends Income for Russia’s Entrepreneurs to Lowest Level On Record

Russians’ income from business activity has fallen to a century low.
HEADING DOWN

Russian Ruble Tumbles Amid Bleak Economic Data, Sanctions Risk

The ruble has slid to its lowest level in months.
RAINY DAY FUND

Russian Savings Jump During Coronavirus Crisis

As wages fell and unemployment rose, Russians saved almost one in every four rubles throughout the pandemic.
HIT THE ROAD

Yandex Self-Driving Cars Break Into World Top 3

Company reports four million miles driven, but remains far behind Google’s Waymo initiative.
‘Golden passports’

Coronavirus Travel Bans Push Russians to Seek Foreign Passports

Demand for foreign residence permits rose by a fifth from March to May 2020 compared with the same period last year.
NATION OF HOMEOWNERS

Cheap Coronavirus Loans Propel Russia’s Mortgage Market 

Lending for homes was up 28% in June, thanks to a government-backed scheme.
ALL TIME LOW

Russia Cuts Interest Rates to New Record Low

Central Bank fears inflation could stay low into 2021 and signals more cuts are on the horizon.
at-risk infrastructure

Melting Arctic Permafrost Threatens Russian Energy Firms’ Bottom Line – Morgan Stanley

Companies could feel the impact of climate change in the near future.
GROWING PAINS

Russia Ditches Goal of Becoming Top 5 Economy

President Vladimir Putin confirms national development goals delayed from 2024 to 2030.
DRAFT BUDGET

Russia Signals Return to Fiscal Conservatism With Future Budget Cuts

Russia's Finance Ministry wants to cut spending by up to 10% from next year.
TECH BOMBSHELL

The Lowest Tax Rate in the World? Russia’s ‘IT Tax Maneuver’

Experts see the Kremlin’s tax cuts for software firms as its latest attempt to squeeze out foreign competition.
GOOD JOB

Russian Recruitment Platform Headhunter Cements $1Bln Valuation

Valuation up more than $300 million from IPO in May 2019.
SLOW GOING

Russian Economy Won't Reach Pre-Coronavirus Level Until 2024

Recovery will be among the world’s slowest.
PIPELINE POLITICS

U.S. Opens Way for Tougher Sanctions on Russia-Germany Gas Pipeline

Putin has said he hopes the Nord Stream 2 project will be completed by early 2021 after delays caused by the U.S. sanctions.
CORONAVIRUS RECESSION

Russian Economy Shrank 10% in Second Quarter – Central Bank

Oil production cuts outweighed recent recovery in other parts of economy.
GOLDEN TIMES

Russia Sold More Gold than Gas For the First Time in Almost 3 Decades 

Quarterly exports of the precious metal overtook Gazprom’s pipeline exports.
Environmental Damage

Arctic Spill Fuels Calls for Shakeup at Russian Mining Giant

Aluminum producer Rusal, which owns 28% in Norilsk Nickel, said it was "seriously concerned" over the recent accidents.
2030 VISION

Russia Resets Ambitious National Development Plan

The $360 billion National Projects plan was already running behind schedule.
PRIME SANCTIONS

U.S. Fines Amazon for Crimea Orders

Technology giant found to have breached sanctions against operating on the annexed peninsula.
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