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Articles with tag "business"

McDonald's and Coca-Cola Rule Out Return to Russia

The statements pour cold water on recent media reports and speculation on social media that Western brands were preparing to re-enter the market.

Retail Giant Magnit to Buy Premium Supermarket Chain Azbuka Vkusa for $490M

As part of the deal, Magnit will also acquire five kitchen factories and three distribution centers in Moscow and St. Petersburg, sources told RBC.
1 Min read

Russian State Bank Takes Over Leading Online Marketplace Avito

The move is part of a broader wave of strategic e-commerce acquisitions that has seen Russia’s digital economy increasingly come under state control...
4 Min read

Swiss Commodities Giant Glencore Sells Off RussNeft Stake

Glencore first invested in RussNeft in the early 2000s, playing a role in the company’s development at a time when Russia’s oil sector was rapidly...
2 Min read

Ex-Husband of Russia’s Wealthiest Woman Ordered to Pay Her $2.6M

Wildberries’ merger with Russ Group last year sparked a bitter corporate and personal dispute between Tatiana Kim and Vladislav Bakalchuk.
2 Min read

Raiffeisen Pauses Russian Bank Sale Amid U.S.-Russia Talks – FT

Raiffeisen Bank International has faced pressure from both U.S. and European authorities to reduce its presence in the Russian market.
2 Min read

Moscow Court Awards Russia’s Wealthiest Woman Ex-Husband’s Stake in Online Retailer

Tatiana Kim divorced her ex-husband Vladislav Bakalchuk after a surprise merger with outdoor advertising firm Russ Group last summer.
1 Min read

Russia to Supply Army Using Seized U.S.-Owned Food Company – Reports

Glavprodukt’s new management reportedly claimed the takeover was needed to ensure stable supplies to the National Guard and the Defense Ministry.
2 Min read

Wildberries Accused of Hiring North Koreans at Moscow Region Warehouse

The online retailer said it launched a pilot project to employ foreign laborers but did not address claims that it recently hired “hundreds” of North...
2 Min read

Buyback Options Expired for 30% of U.S. Companies That Left Russia, AmCham Says

AmCham Russia President Robert Agee previously estimated that around 150 U.S. companies have left Russia, while a similar number remain.
2 Min read

Russia's IT Sector Fears Re-Entry of Western Competitors

Russian IT companies are concerned that increased foreign competition might make their already precarious situation yet more difficult.
5 Min read

Asian Business Giants Thrive in Russia Despite Sanctions

Their presence reveals a divergence between Western corporate exodus and Eastern mercantile strategy.
3 Min read

Rotenberg Brothers Behind Russia’s Wartime Asset Seizures – FT

An anonymous Russian government official said the Rotenberg brothers have developed “this whole concept of kind of soft nationalization.”
1 Min read

Russia’s Only TV Manufacturer Discontinues Production

Sources close to the company said the decision to end production was due to sluggish demand and burdensome government paperwork.
1 Min read

No Sign Western Businesses Want to Return, Russian Central Bank Chief Says

“As for companies that want to return, we haven’t received any requests in the financial sector yet,” Central Bank Governor Elvira Nabiullina said...
2 Min read
opinion Vladislav Inozemtsev

Russia’s Businessmen Are Natural Opponents of Putin. They Just Don’t Know It Yet

Both Russia's self-made businessmen and the opposition have a common interest in living in a peaceful democracy that respects the rule of law.
5 Min read

Russian Market Slides Amid Global Panic Over Trump’s Tariffs

Among the biggest losers on Monday was En+ Group, the parent company of aluminum tycoon Oleg Deripaska’s Rusal, which fell 9.76%.
2 Min read

Mining Company Alrosa Unveils Russia’s Largest-Ever Diamond

The 100-carat diamond, named New Sun, was cut from a billion-year-old 200-carat rough diamond unearthed from an ancient riverbed.
1 Min read

No Quick Sanctions Relief Expected for Russia, Major Business Lobby Says

“We assume that 2025 will be a rather difficult year with internal and external challenges,” said Alexander Shokhin, president of RSPP.
2 Min read

American Companies Expected to Attend 2025 St. Petersburg Economic Forum

The organizer of the flagship economic forum said "several" U.S. companies had submitted applications to attend the four-day event in June.
2 Min read
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