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Articles with tag "business"

Russia’s Metals Industry Faces Layoffs, Shortened Workweeks – Reuters

"There is a quiet cutback going on in the metals industry," a Reuters source said, citing weak demand, high interest rates and the strong ruble as the...
opinion Tatyana Rybakova

How the Kremlin Decided to Sacrifice Small Business to Pay for War

Desperate to fund the war as the economy flags, the Kremlin is piling pressure on entrepreneurs. Here's the story of one man pondering his future.
4 Min read

Russian Stocks Suffer Sharpest Single-Day Drop in 3 Years

The sellof accelerated after a senior diplomat said that progress toward a potential peace deal to end the war in Ukraine had largely stalled.
2 Min read

Danone’s Former Russian Business Renamed as ‘Milk Logic’

Danone announced its intention to leave Russia after the 2022 invasion of Ukraine, with the Kremlin temporarily seizing its assets the following year.
1 Min read

Russia's Power of Siberia 2 Deal With China Would Take a Decade to Boost Gas Exports – Reuters

Even if a deal is finalized, construction would take at least five years and another five would be needed to reach full capacity, industry sources told...
2 Min read

More Taxes for More War: Unpacking Russia’s 2026 Budget

The proposed budget underscores the Kremlin’s resolve to press on with the war — even if it means higher costs for businesses and consumers.
6 Min read

Moscow Businessman Arrested Over Decades-Old Contract Killings

Ibragim Suleimanov was arrested after the alleged gunman reportedly testified against him.
1 Min read

Russia’s Auto Industry Faces Labor Shortages as 4-Day Work Week Forces Employees Out – Reports

Employee incomes have fallen by about 20% since GAZ introduced a four-day work week in July, Mash reported.
2 Min read

Citibank to Stop Servicing Client Accounts in Russia – Reuters

The bank, one of the largest Western lenders on the Russian market, advised clients to transfer their remaining funds to other banks as soon as possible...
2 Min read

Russia’s Private Sector Activity Hits 3-Year Low

The S&P Global Purchasing Managers’ Index (PMI) fell to 46.6 in September from 49.1 in August.
2 Min read

Thousands of Trucks Stuck at Kazakhstan-Russia Border Amid Customs Crackdown

Transport operators see the situation as a sign that Kazakhstan is moving toward closer compliance with Western sanctions on Russia.
2 Min read

Russia’s Arctic LNG 2 Ramps Up Output to Record Levels – Bloomberg

Average daily output in September reached 17.9 million cubic meters, about 14% higher than the previous peak in August.
2 Min read

Russia’s Largest Chip Maker Tops List of Most Unprofitable Companies

State-owned firms in the top 10 accounted for 652.8 billion rubles ($7.91 billion) of losses, or 70% of the total.
2 Min read
opinion Vladislav Inozemtsev

Russia's Billionaires Are Losing the Global Wealth Race

Russia’s billionaires once rivaled Microsoft & Bill Gates. Today, just six remain in the global Top 100, trapped at home and stripped of global influence...
4 Min read

Luxury Firm Cucinelli Chided by Italian Regulators Over Russia Claims

A report alleged that the cashmere company continued to sell ultra high-value luxury goods in Russia in violation of EU sanctions.
2 Min read

Russian Scheme to Draw Foreign Investment Sees No Uptake, Official Says

Investors from “unfriendly” countries have shown little interest in new government-backed accounts designed to protect their funds from freezing.
2 Min read

Russia’s Tax Service Seeks Bankruptcy of Tyumen’s Largest Timber Firm

The Tobol Timber Company's owner has blamed its financial troubles on its inclusion in the EU sanctions list and falling prices for Russian timber.
2 Min read

Russia’s High Rates Pose Bigger Threat to Companies Than Past Crises, Think Tank Warns

The longer the economy operates under tight monetary conditions, the greater the risks to production and corporate balance sheets, a Kremlin-linked think...
3 Min read

Urals Businessman Arrested as Prosecutors Move to Seize Utility Companies

Police reportedly arrested Urals businessman Alexei Bobrov in Moscow and transferred him to the city of Yekaterinburg for questioning.
1 Min read

In First, Chinese Cargo Ship Docks in Sanctioned Crimean Port – FT

The series of stops by a foreign tanker in Sevastopol, which is internationally recognized as part of Ukraine and is barred by sanctions, is unprecedented...
2 Min read
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