Rusal Is Said to Plan First Woman CEO as Deripaska Steps Down

5 days ago kakp2 0
(Bloomberg) — United Co. Rusal will name finance head Alexandra Bouriko as chief executive officer, the first time a woman will lead one of Russia’s largest commodity companies, according to people familiar with the matter. Billionaire Oleg Deripaska is stepping down as CEO of Rusal and president of En+ Group Plc as part of a broader reshuffle, Read More

A Russian Oligarch Walks Away From His $8 Billion Empire

1 week ago kakp2 0
(Bloomberg) — In 1998, Sergei Galitsky opened a small grocery in his hometown of Krasnodar, 1300 kilometers south of Moscow. Over the next two decades he expanded that modest operation into an empire with almost $20 billion in sales and 16,000 stores across Russia, amassing a fortune valued at some $5 billion in the process. On Friday, he Read More

Russian Billionaires Are Building Megaschools to Rival Eton and Exeter

2 weeks ago kakp2 0
Russian billionaires fund private schools to rival foreign counterparts. Vadim Moshkovich Andrey Rudakov/Bloomberg (Bloomberg) — As part of a push to get more Russian business leaders involved in education, President Vladimir Putin sat down with some of the country’s most gifted pupils for a televised chat about the value of life, love and learning.  They gathered at Sirius, an educational center Putin established in Sochi after Read More

Russia Busts Crypto Miners at Secret Nuclear Weapons Lab

2 weeks ago kakp2 Comments Off on Russia Busts Crypto Miners at Secret Nuclear Weapons Lab
Russia’s still debating laws on cryptocurrencies, but engineers at a top-secret nuclear lab were already busy mining them, authorities said. The Scientific Research Institute for Experimental Physics, where the first Soviet nuclear weapon was produced in 1949, Friday reported “an attempt at unauthorized use of the institutes’s equipment for personal needs, including so-called mining.” The press release didn’t specify when the incident Read More

Some Russians Are Loving This Blizzard of the Century

2 weeks ago kakp2 Comments Off on Some Russians Are Loving This Blizzard of the Century
A record-breaking snow storm will benefit wheat crops across central Russia, reinforcing the outlook for another big harvest. The storm hit Moscow over the weekend, dumping up to 55 centimeters (22 inches) in some parts of the city, according to the state meteorological office. In areas of central Russia, where there are more wheat fields, precipitation was lighter, with about 31 centimeters falling in Bryansk. “This is a free Read More

Kremlin’s Bid to Woo Rich Exiles Home Meets Skepticism

3 weeks ago kakp2 Comments Off on Kremlin’s Bid to Woo Rich Exiles Home Meets Skepticism
(Bloomberg) — The Kremlin is expanding its campaign to woo Russian businessmen and their money back home to include those fleeing prosecution. Skeptical exiles aren’t planning to pack their bags any time soon. In a letter accompanied by 81 pages of appeals from businessmen, Boris Titov, the Kremlin’s commissioner for entrepreneurs’ rights, asked President Vladimir Putin to order a review of cases against people who’d been “forced” to flee Read More

Russia’s Economic Recovery Remains a Challenge

3 weeks ago kakp2 Comments Off on Russia’s Economic Recovery Remains a Challenge
Putin’s choice of economic model in 2018 will set Russia’s course for the next decade Kremlin Press Service Russia is starting to look like a normal country and 2018 will take it another few steps toward putting its emerging market status behind it. Having climbed out of a two-year recession in 2017, Russia is still far from the blistering 6-8 percent annual growth of the Read More

OPEC-Russia Oil Deal Faces One Last Hurdle: Knowing How to Stop

1 month ago kakp2 Comments Off on OPEC-Russia Oil Deal Faces One Last Hurdle: Knowing How to Stop
(Bloomberg) — OPEC and Russia concur on two things: their oil production cuts are working and they should be extended deeper into next year. What’s proving more elusive is an accord on when and how to end the curbs. As ministers gather in Vienna, this unanswered question is the main reason Russia has yet to give Read More

Putin Offers $8.6 Billion to Families as Russia Nears Election

1 month ago kakp2 Comments Off on Putin Offers $8.6 Billion to Families as Russia Nears Election
(Bloomberg) — Vladimir Putin has loosened Russia’s purse strings to expand a popular subsidy for families ahead of a presidential election in which he’s widely expected to seek a fourth term. The government will spend 500 billion rubles ($8.6 billion) over three years on measures to encourage Russians to have more babies, including mortgage subsidies and Read More

OPEC and Russia Ready to Extend Oil-Supply Cuts Through 2018

1 month ago kakp2 Comments Off on OPEC and Russia Ready to Extend Oil-Supply Cuts Through 2018
(Bloomberg) — OPEC and Russia are ready to extend their oil production cuts until the end of next year to ensure global stockpiles keep falling and prices maintain recent gains. All OPEC members and Russia, the biggest producer outside the group to join the deal, agree the cuts should last until the end of 2018, according Read More