Russian entrepreneurship in dire straits

Russian business daily Vedomosti.ru published an editorial on the unwillingness of Russian citizens to open their own businesses. The editorial was motivated by the Global Entrepreneurship Monitor report for 2012, which indicated that a mere 2.2 percent of the Russian adult population plans to open a new business. This is the lowest percentage among all…

Who benefits from the Great Game in Central Asia

Russian daily Gazeta.ru published an op-ed by Vladimir Milov, president of the Russian political party „Democratic Choice“, in which he criticizes the Russian government’s liberal policy towards immigration from Central Asia. According to Milov, regardless of individual politicians calling for the introduction of a visa regime between Russia and the Central Asian countries, the Russian…

Russian Government’s foreign debt reduced to USD 49.8 billion

Relying on the data from the Russian Ministry of Finance, business daily RBK reported that the Russian Government’s foreign debt decreased by 1.9 percent since the beginning of 2013, to USD 49.8 billion. Government debt owed under the euro-denominated bonds was reduced by 1.8 percent, to USD 34.27 billion, while indebtedness to the international financial institutions…

Gazprom has gas to last a 100 years

Russian business daily RBK quoted Gazprom’s Head of Geological Department Andrey Tretyakov, who stated that Gazprom’s gas reserves are sufficient for the company to continue producing gas for another 100 years. During his participation at the Adam Smith Institute conference „Oil and Gas in the Russian Arctic“, Tretyakov added that Gazprom will have to deal…

Russian officials continue to worry about the economic performance in 2013

Russian business daily Vedomosti.ru reports on rising concerns regarding the performance of the Russian economy in 2013. As the Russian Minister of Economic Development Andrey Belousov stated, „We’re not in recession yet, but we might get there. Such a risk exists. …I believe [it might happen] by autumn.“ The Deputy Minister of Economic Development Andrey…

Russian oil industry to pay for the roads

Russian business daily Vedomosti.ru reported that the Russian Ministry of Finance discovered a combined deficit of 108.7 billion rubles (USD 3.5 billion) in the Federal and local road infrastructure funds. The deficit is a consequence of tax incentives provided to the oil refining industry – in order to stimulate the sales of ecologically friendly fuel, the…

Shades of grey Russian economy

Business daily Vedomosti.ru published an editorial commenting on a recent statement by the Russian Deputy Prime Minister Mrs. Olga Golodets regarding 38 million Russians that are employed „who knows where“. According to Mrs. Golodets, this group, not registered as either employed or unemployed, makes up a large percentage of Russia’s 86 million-strong workforce. Stating that…

Gazprom’s market capitalization sinks below USD 100 billion

Russian business daily Vedomosti.ru reports that the market capitalization of the Russian gas giant Gazprom dropped below USD 100 billion after Tuesday’s close at the London Stock Exchange. In the course of yesterday’s trading, Gazprom’s stock lost 2.7 percent and 1.5 percent at the stock exchanges in London and Moscow, respectively, reducing the company’s value to…

Will Russia develop a high-speed railway network after all?

According to the Russian TV network RBK, the Moscow State University of Railway Engineering and the French National Railway Networks Association will open a joint center for the development of high-speed railway networks in Russia in September 2013. Russia’s high-speed railway network is currently limited to a single high-speed line, the „Sapsan“, connecting Moscow to St….