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Articles with tag "business"

butting out

British American Tobacco Finalizes Exit From Russia

The maker of Kent and Rothmans cigarettes said the deal would keep its estimated 3,000 Russian and Belarusian employees afloat for at least two years...
last sip

Heineken Exits Russia, Sells Operations for 1 Euro

The company apologized in March for creating "ambiguity" on its vow to leave the country, saying it was hoping to secure jobs for its Russian employees...
2 Min read
'challenging environment'

Domino’s Pizza Files for Bankruptcy in Russia

The company's regional franchise operator reportedly failed to sell its Russian business but did not explain the reason for the failed sale.
2 Min read
tycoon turmoil

Russia Files Lawsuit Against Country's Wealthiest Businessman

Andrei Melnichenko is accused of “corrupt collusion” in a deal to buy a Siberian power plant operator from an ex-minister who is currently on trial...
1 Min read
opinion Farida Rustamova and Maxim Tovkaylo

One Question for Arkady Volozh and Other Russian Billionaires

Who will deal with what is happening inside Russia? This is a question posed not only for Volozh to answer, but for all Russian businessmen.
5 Min read
red ink

European Companies Record Billions in Losses From Russia Operations – FT

Energy and utility groups suffered more than half of the losses, with banks, chemicals, industrial and automobile companies making up the rest.
2 Min read
In depth

Russia’s IKEA Copycat Lacks Variety, Quality and Meatballs of Original

Customers at "Gud Lakk" told The Moscow Times they disagreed with the company's claims that it offers the same quality and variety as IKEA.
4 Min read
state trumps all

Moscow Seeks ‘Super Priority’ Over Exiting Strategic Foreign Companies – Interfax

“Russia’s preferential right to acquire shares is realized regardless of the preferential rights of other persons,” a draft decree reportedly says...
2 Min read
In depth

Russia’s Surging Trade With China Creates Infrastructure Headaches

Russia’s logistics network is creaking under the weight of record trade with Asia.
4 Min read
anti-war businessman

U.K. Lifts Sanctions Against Exiled Russian Banking Tycoon Tinkov

The decision was announced just days after British billionaire Richard Branson called on his government to lift the “unwarranted” sanctions.
2 Min read
News Analysis

‘Foreign Companies Are Being Taken Hostage’: Kremlin Escalates Campaign on Western Corporates

Moscow is unlikely to stop with the seizure of Russian assets of Carlsberg and Danone, experts say.
4 Min read
state capture

Kremlin Loyalists Handed Seized Carlsberg, Danone Assets – Reports

Moscow seized Danone and Carlsberg’s Russian subsidiaries in retaliation to foreign moves against Russian companies abroad.
2 Min read
complicated departure

Russia Tightens Exit Rules for Foreign Businesses – Vedomosti

Foreign companies must “understand what they’re losing” by pulling out of Russia, Vedomosti quoted an anonymous source close to the government as...
2 Min read
Allegations

Russia Probes U.S. Chocolate Giant Mars for Funding Ukraine Army

Mars said in May it had donated $25.5 million to feed, shelter and rehabilitate Ukrainians and their pets through international charities and organizations...
1 Min read
against the law

Yandex General Director Accused of Violating ‘LGBT Propaganda’ Ban

The case against Artyom Savinovsky is linked to his ongoing work at streaming service Kinopoisk, which has been fined for violating the "LGBT propaganda"...
1 Min read
No more euro

Austria’s Raiffeisen Bank Suspends Euro Transfers in Russia and Neighboring Countries

Raiffeisen Russia said the change — impacting both individual and corporate clients — was due to “restrictions imposed by correspondent banks.”...
1 Min read
Receipts surge

Russian Companies Record Historic Quadrillion-Ruble Revenues in 2022 – RBC

Researchers at the European University later found an accounting error had grossly overestimated 2022 company earnings reported by RBC.
2 Min read
In depth

Crimea’s Tourism Industry Faces Another Lost Summer as War Rages On

Putin promised prosperity and security when he annexed Crimea in 2014. Now his war on Ukraine could be a fatal blow for the region’s tourism sector.
4 Min read
In depth

War and SPIEF: Russia's Flagship Economic Forum Flatlines

SPIEF organizers and senior businesspeople described a diminished event that lacks purpose and fails to draw the high-profile guests it once did.
4 Min read
Priority Rights

Putin Signs Secret Decree to Buy Discounted Western Companies – FT

Western businesspeople involved in corporate exits called Putin’s decree a “Pandora’s box” that would lead to eventual nationalization.
2 Min read
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