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Business

CRIMEAN CASH

Moscow Considers More Tax Breaks for Crimea

A Kremlin-loyal business group has suggested discount loans to build hotels and tax exemptions to boost tourism on the peninsula.
Banking Cuts

Citigroup Investment Banking Head Leaves as Wall Street Retreat Continues

The head of Russian equities has left in the latest investment retreat for a U.S. bank.
DOLLAR LOSSES

Putin’s Dollar Dump Costs Russia $8 Billion

By ditching the greenback, Russia lost out on huge potential returns over the last 12 months.
TECH OVERVIEW

September Report: Russia’s Tech, Investment and Start-up Deals

BlaBlaCar on the move, Calvey’s detention extended, and a new report on Russian venture capital.
NATIONAL WEALTH

Russia Climbs Higher in National Brand Ranking

The Russian national brand is worth almost $1 trillion — up 16% on last year.
cryptocurrency stalled

Telegram May Delay Coin Launch as SEC Halts U.S. Sales

The messaging app, founded by Russian entrepreneur Pavel Durov. is evaluating ways to solve the problem.
De-dollarization

Russia Says Exploring Settlement in Euros, Rubles for Energy Exports

Russian Economy Minister Maxim Oreshkin said the country is considering alternatives to the U.S. dollar for energy transactions.
YAN-DECKED

Yandex Shares Plummet as Russia Considers Limits on Foreign Ownership

More than $1 billion wiped from the company’s valuation on fears the Kremlin favors limiting foreign investment in tech companies.
DOLLAR DYNAMICS

Rich Russians Snap up U.S. Treasuries

As the Central Bank moves away from the dollar, Russians with cash are swooping in.
COAL CONCERNS

Russian Energy Giants Suffer Under Anti-Coal Campaigns

In the absence of a government drive to reduce the use of coal, Russian companies are becoming targets of divestment campaigns from international investors...
DIGGING AROUND

One in Three Russian Oil Fields Not Economically Viable

A huge inventory of Russia’s oil reserves has found one-third would not be profitable to develop.
E-PUNISHMENT

Finance Heads Call for Stronger Cybercrime Punishments

The two most important organizations in the Russian banking sector have called for tougher criminal responsibility for perpetrators of cybercrime.
TAX BREAKS

Foreign Investors Demand 2.6 Trillion Ruble Tax Cut for Rosneft — Vedomosti

Foreign investment into a host of Russia’s arctic oil fields might only go ahead if Rosneft can secure tax breaks worth $41 billion from the government...
WESTERN INFLUENCE

U.K. Firms Fight Russia’s Image Problem

At an annual investment forum in Moscow, British businesses promoted U.K.-Russia business relations amid the ongoing political standoff.
ONLINE EXPANSION

Russia’s Mail.Ru and China’s Alibaba Complete Deal to Team Up

AliExpress Russia is looking to grab a share of the growing e-commerce market.
COMPETITIVE EDGE

Russia Going Nowhere in Global Competitiveness Rankings

Russia stays mid-table in rankings of the world’s most competitive economies, while Singapore leapfrogs United States into top spot.
GROWING PAINS

World Bank Cuts Russian Growth Forecast

Economy expected to expand by just 1% in 2019 amid weak investment, low consumer confidence and international sanctions.
GOING LOCAL

Russia and Turkey to Increase Use of Ruble and Lira

The two countries have signed a deal to start paying each other in local currencies.
TAX TROUBLES

Fastest Tax Hike in 5 Years to Hit Small Firms - RBC

Russia’s small and medium businesses will be hit with the largest tax increase since 2015.
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