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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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