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Russian economy

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Business

Russian key interest rate unchanged

Russia's central bank has kept it key interest rate unchanged at 10.5 percent even as inflation falls.

Russia's central bank has kept it key interest rate unchanged at 10.5 percent even as inflation falls.

Business

Rosneft's quarterly net profit falls 75 percent

Rosneft's quarterly net profit fell by 75 percent as crude oil prices declined, but Russia's top oil producer also blamed heavy investment in the period.

Rosneft's quarterly net profit fell by 75 percent as crude oil prices declined, but Russia's top oil producer also blamed heavy investment in the period.

Business

Russian interest rates on hold, inflation outlook uncertain

Russia's central bank has left its main lending rate at 11 percent and signalled that it is not looking at cuts to the cost of borrowing anytime soon as it focuses on keeping inflation under control.

Russia's central bank has left its main lending rate at 11 percent and signalled that it is not looking at cuts to the cost of borrowing anytime soon as it focuses on keeping inflation under control.

Business

Avtovaz boss Bo Andersson is out following sales slump

Russian car ,manufacturer Avtovaz has dumped its chief executive Bo Andersson after the Lada maker reported a record loss following slumping sales.

Russian car ,manufacturer Avtovaz has dumped its chief executive Bo Andersson after the Lada maker reported a record loss following slumping sales.

News

Moscow authorities defend bulldozing of small businesses

The authorities in Moscow have defended their right to demolish small businesses they say are illegal and unsafe. Last week they sent bulldozers to

The authorities in Moscow have defended their right to demolish small businesses they say are illegal and unsafe. Last week they sent bulldozers to

Business

To Russia with cash: Chinese tourists offset fall in Western visitors

Russia is enjoying a tourism boom of Chinese visitors who have become the largest group of foreign visitors with numbers more than doubling last year compared with 2014.

Russia is enjoying a tourism boom of Chinese visitors who have become the largest group of foreign visitors with numbers more than doubling last year compared with 2014.

Business

Russian recession set to deepen says central bank

Russia's economy is set to dip deeper into recession according to the latest central bank forecasts as the Kremlin looks at selling stakes in state owned companies.

Russia's economy is set to dip deeper into recession according to the latest central bank forecasts as the Kremlin looks at selling stakes in state owned companies.

Business

Russia economy shrank 3.7% in 2015, inflation up 13%, retail sales fall 10%

Russia's economy contracted by 3.7 percent in 2015 according to the government statistics service in Moscow. They said retail sales fell by 10 percent and capital investment by 8.4 percent.

Russia's economy contracted by 3.7 percent in 2015 according to the government statistics service in Moscow. They said retail sales fell by 10 percent and capital investment by 8.4 percent.