All entries by this author

What will Sochi's Olympic Legacy look like?

Feb 12th, 2014 | By | Category: Asides

In the run-up to the Games, the 2014 Sochi Winter Olympics caused a stir for all the wrong reasons. International journalists were quick to criticise the country for its rushed attempts at preparing for the event, sharing images of unfinished hotels and conference rooms and criticising the “shambles” around the site. President Vladimir Putin's recent [...]

Russian firms taking cautious approach to investment

Sep 3rd, 2013 | By | Category: Central Bank

Russian firms are showing some cautious signs of reigniting investment, with reports coming through suggesting that targeted investment is receiving more and more attention. The 2013 American Express/CFO Global Business and Spending Monitor was released in Russia last month. Ahead of the release, Vladimir Salakhutdinov, country manager for American Express Russia, told The Moscow News [...]

Navalny jailed for embezzlement

Jul 19th, 2013 | By | Category: Asides

Alexei Navalny, leader of the opposition against President Vladimir Putin's United Russia Party, has been sentenced to five years in jail on the charge of embezzlement. The charge was brought on claims that Navalny headed a group that embezzled timber worth 16 million roubles (around £330,000) from the state timber company, Kirovles, in his role [...]

S&P holds Russia's BBB rating steady

Jun 28th, 2013 | By | Category: Featured

Ratings agency Standard & Poor's (S&P) has held Russia's investment rating steady at BBB. The decision will come as something of a blow to the government, which was hoping for its first upgrade in five years before potentially launching a $7 billion bond sale. However, the agency opted to keep the rating at the second-lowest [...]

Russia would welcome weaker rouble

Jun 19th, 2013 | By | Category: Central Bank

Russia would welcome a weakening of the rouble, so long as the drop in the exchange rate is market driven. This is the view expressed by the country's Finance Minister Anton Siluanov in discussions with Reuters. He added that the drop in the currency value would help to boost the competitiveness of Russia's export market, [...]

Rolls-Royce expects Wraith model to boost sales in Russia

Jun 12th, 2013 | By | Category: Asides

The debate surrounding the introduction of the high-end car tax in Russia has got luxury car manufacturers worried. But Rolls-Royce is confident that its new Wraith model will maintain interest in its brand. Lawmakers in Russia are currently trying to raise the tax on cars costing more than five million roubles. Preliminary approval was given [...]

Russians top fastest growing luxury hotel consumers

Jun 6th, 2013 | By | Category: Asides

Russians have been dubbed the fastest growing group of luxury hospitality consumers, with demand rising by 12.8 per cent. The Digital Luxury Group released the statistics, which found that growth in demand from Russians outpaced the other high-growth countries. Britons showed a 8.4 per cent increase in demand, while Chinese demand was up 3.3 per [...]

Russia becoming top retail destination

May 22nd, 2013 | By | Category: Featured

Retailers have long acknowledged the importance of the Russian market, but the region looks set to overtake some of its competitors this year. According to analysts at Cushman & Wakefield, within two years time, Russia is set to become the largest shopping centre in Europe. At the moment, France and Britain are well in the [...]

Russian gold producer attracts 32m rouble investment

May 16th, 2013 | By | Category: Asides

Russia's largest gold producer, Polyus, has attracted a 32 million rouble investment, it has been confirmed. The company has announced that the investment, worth the equivalent of around $1 billion, is to play an important role in helping double the firm's gold production by 2018. However, it has refused to disclose the source of the [...]

Russia a key buyer of British luxury items

May 8th, 2013 | By | Category: Asides

Russia has become one of a number of key markets to have helped the British luxury market to healthy levels of growth over the past few years. According to the latest data from Walpole British Luxury, the organisation representing the UK luxury industry, the sector is set to grow by 12 per cent to a [...]