#economy

Russian Restaurateur Novikov Claims Import Substitution a Complete Success

Import substitution in the field of food production has been a complete success in Russia, according to restaurateur Arkady Novikov

Russia Spent 250 Billion Roubles on Industrial Import Substitution

Some 250 billion roubles ($4.04 billion) have been invested into the development of import-substitution production facilities over the past two years

Auchan Planning to Invest Hundreds of Millions of Dollars Annually into Russian Market

French retailer Auchan intends to invest 20-30 billion roubles ($328.7-493.1 million) annually into the development of their business in Russia

Russia One of Top Instant Coffee Exporters to Germany

Russia provided five precent of German imports of instant coffee this past autumn

Japan's Seko: Deals with Russia Are Win-Win

Hiroshige Seko, Japan’s Minister for Economic Cooperation with Russia, said that deals signed with Russia are “win-win,” according to Reuters

Russian Economy Less Dependent on Oil Prices – Bank of America

The Russian economy dependence on oil price fluctuations has declined

Russia Produces Extra $4 Billion of Agricultural Goods as Part of Import Substitution Effort

Russia has produced $4 billion of additional agricultural goods as part of its import substitution programme, according to Deputy Minister of Agriculture

Russia and India Plan to Establish a $1 Billion Investment Fund

Denis Manturov, the Head of the Ministry of Industry and Trade of Russia said that Russia and India are negotiating on establishing new $1 billion fund

European Commission Improves Economic Forecast for Russia

The European Commission (EC) improved the forecast for Russia’s GDP growth in 2017 from 0.8% to 1.2%

Russia’s Reserves Show $3 Billion Hike in April

Russia's foreign exchange (or gold and currency) reserves increased by $3.09 billion in a month (from April 1 to May 1) and reached a volume of $400.99 billion

Tyumen: Russia's Best Place to Live?

For the third year running, Tyumen has been named the best place to live in Russia, chosen from 38 of the country's largest cities

Russia's Largest Bank Predicts Influx of Migrants Due to Economic Growth

The influx of migrants in Russia will increase in 2017 if the economy continues to recover, according to a report by Sberbank CIB analysts

Russia and Japan to Increase Life Expectancy in Russia

Russia and Japan are working together to develop a plan that will increase life expectancy in Russia by improving healthcare and creating more comfortable living conditions

Moody’s: Russian Oil and Gas Sector Unaffected by Sanctions

Analysts with the international credit rating agency Moody's claim that US and EU sanctions have had no major impact on the Russian oil and gas sector

Tourist Shoppers Spend More Than $160 a Day in Moscow

Tourists who come to Moscow to shop spend an average of about 10,000 roubles ($166.80) a day, according to Nikolay Gulyaev, head of Moscow’s Department of Sport and Tourism

Russian Governor Believes ‘Booming Villages’ Are Result of Sanctions

The Governor of Vladimir Region Svetlana Orlova called for Western nations not to hurry with lifting their sanctions against Russia

Russia Now China’s Leading Oil Supplier – Reuters

Russia has consolidated its position as China’s primary oil supplier, surpassing Saudi Arabia in the first ten months of the year

Russian Higher School of Economics Among World’s Top 100 Best Young Universities

For the first time ever, Russia’s Higher School of Economics was included in the rankings compiled by the Times Higher Education (THE), the Interfax news agency reported

Russia Becomes World Leader in Sugar Beet Production

Russia became the world leader in sugar beet production in 2016, overtaking France, the US and Germany, according to Minister of Agriculture Alexander Tkachev

Demand for Business Travel to Russia Increases by 60%

The number of invitations issued for business visas to Russia increased by almost 60% in 2016 compared to 2015

Russia Recognised Among Top 25 Best Countries in the World

Thanks to a formidable armed forces and proficient diplomacy, Russia has been ranked among the Top 25 best countries in the world