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Articles with tag "business"

shrinking margin

Russian State Oil Giant Rosneft Profit Falls After Sanctions

Western powers have imposed a raft of sanctions against Russia, including a price cap on its crude, over the conflict in Ukraine.
Rusal revenue decline

Russian Aluminum Giant's Profit Plummets Almost 45%

Rusal blamed inflation and geopolitical tensions for higher production costs.
1 Min read
on hold

Strikers Force Russian E-Commerce Giant Wildberries to Rethink New Rules

Thousands of workers went on strike to protest new rules that make employees financially liable for goods returned by customers.
2 Min read
industrial inaction

Staff at Russian E-Commerce Giant Wildberries Begin Protest

Employees of Russian e-commerce giant Wildberries launched a nationwide industrial action to protest against a new payment system.
1 Min read
‘too much state’

Russia Faces Looming Foreign Investment Crisis, Oligarch Warns

Russian oligarch Oleg Deripaska urged the Kremlin to ease its rules on foreign investment on Thursday.
1 Min read
'untrue and misleading'

Heineken Denies Claim it Broke Promise to Exit Russian Market

Dutch giant brewer Heineken said Wednesday that it still planned to exit Russia after a media report accusing it of "breaking a promise" to leave over...
1 Min read
damning report

Ukraine Calls Retail Giant Auchan 'Weapon of Russian Aggression'

Ukraine's foreign minister on Friday accused French retailer Auchan of being a "full-fledged weapon of Russian aggression" following a joint investigation...
2 Min read
opinion Alexandra Prokopenko

The Risks of Russia’s Growing Dependence on the Yuan

One of the biggest problems Russia is currently facing is managing its foreign trade transactions. The country’s main banks have been cut off from...
limited impact

Only 8.5% of Western Firms Have Left Russia – Study

Despite widespread outrage over Moscow's war in Ukraine, only a small number of Western companies have deserted Russia, according to a Swiss study. Researchers...
business boost

Kremlin: Russian Firms Can Ignore 'Unfriendly' Foreign Shareholders

The Kremlin has given major Russian companies permission to disregard the votes of shareholders from so-called "unfriendly" countries this year as a means...
opinion Alexandra Prokopenko

The Cost of War: Russia's Economy Faces a Decade of Regress

Nine months after Russia’s invasion of Ukraine, the Russian economy is doing better than expected. The predicted collapse has been avoided, and the...
parallel imports

Russian Post Launches Delivery of Departed European Fashion Brands

Russia’s postal service has launched deliveries of European fashion brands like Zara and H&M that have exited or reduced their presence in Russia...
increasing income

Tech Giant Yandex Reports Rising Revenues Despite Sanctions

Russian tech group Yandex announced on Thursday that its revenues continued to climb during the third quarter, despite Russia being under Western...
opinion Victor Davidoff

Are Western Brands as Serious About Withdrawing From Russia as They Appear?

Last week, Mercedes-Benz became the latest Western company to announce that it had sold off its assets in Russia – including its factory outside...
untenable operations

Bridgestone Seeks Local Buyer for Russian Business

Japanese tiremaker Bridgestone said Monday it was seeking a local buyer for its business in Russia due to "general uncertainty and the ongoing...
latest departure

Mercedes-Benz to Sell Off Russian Assets to Local Investor

German carmaker Mercedes-Benz is expected to sell its Russian assets to a local investor, the Russian Industry and Trade Ministry said Wednesday, becoming...
market exit

Zara Owner Inditex Says to Sell Russian Stores

Spanish fashion retailer Inditex said Tuesday would sell its stores in Russia, seven months after the Zara owner halted its operations in the country following...
cutting ties

ExxonMobil Exits Russia With ‘Unilateral Termination’ of Sakhalin-1 Assets

American oil giant ExxonMobil has completed its exit from the Russian market after President Vladimir Putin ordered the expropriation of its assets, the...
Cancel culture

Danone Plans to Withdraw From Most of its Business in Russia

French food giant Danone announced plans on Friday to transfer the control of its essential dairy and plant-based business in Russia, retaining only its...
End of the road

IKEA announces 10,000 layoffs in Russia

Swedish furniture giant IKEA announced that it would be making around 10,000 of its remaining Russian staff redundant on Thursday, despite posting a 6%...
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