Positive figures just released by Sberbank have been offered by banking chiefs as evidence of the bank’s return to profitability.
The significant increase in quarterly profits are believed to be the result of cost cutting by Sberbank, and a fall in provisions against bad loans.
The net profits reported by the state-controlled bank of 43.5 billion roubles [...]

Russian energy giant Gazprom has revealed its profits surged 33 per cent between July and September 2009. Lower taxes and foreign exchange gains owing to a weakening of the rouble against the dollar have been credited with the rise.
Gazprom, which meets around a quarter of Europe's gas needs, said net profit for the third quarter [...]

Russia's largest mobile phone operator, which took advantage of a strong rouble and low global interest rates by borrowing aggressively abroad before the recession, has said it has no plans to change its debt level in 2010. MTR claims it is comfortable with its current burden of gross debt, which stands at 1.8 times OIBDA.
"We [...]

In an attempt to kick-start the domestic car industry – thus boosting the economy, Russia is launching a car scrapping scheme.
The Russian Industry and Trade Minster Viktor Khristenko briefed prime minister Vladimir Putin on the scheme that will start on 8 March. He says the ministry is looking into ways to implement the scheme. He [...]