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With gold prices hitting all time highs should Russia to be thinking of selling some of its reserves?

Evroset employees arrested on kidnapping charges Two top officials with Russia's largest mobile phone retailer, Evroset, have been detained on charges of kidnapping and extortion. The company's vice president Boris Levin and deputy security chief Andrei Yermilov are...

Shares jump on TNK-BP agreement. Shares of TNK-BP, a Russian joint venture of British Petroleum, jumped 13 percent on Thursday on the news that the company reached a deal, ending an ongoing dispute. The agreement between shareholders will see CEO...

Comstar UTS sees Net Income up 38% 1H 2008 Leading Russian telecommunications provider Comstar UTS has unveiled a 1H 2008 Net Income of $84 million, up 38% year on year under U.S. GAAP.

TNK-BP shareholders sign MOU to resolve differences en route to IPO Shareholders in Russian energy producer TNK-BP have signed a Memorandum of Understanding, paving the way for a resolution of conflicts which have beset the company.

NLMK to outlay $400 million for US steel producer Beta Steel Russian steelmaker NLMK has agreed to buy Beta Steel Corporation of the United States for $400 million, in the latest Russian foray into the U.S. Steelmaking sector.

Severstal posts 1H 2008 Net Profit of $1.94 Billion Russian steelmaker, Severstal, has posted a Net Profit for 1H 2008 of $1.94 Billion, up 69% year on year under IFRS.

More tax cuts on the way A senior government official has pledged loans and fresh tax cuts to Russian industry. August was the country's worst month so far in the credit crisis, after company borrowing collapsed 80% in July.

Russia gains the upper hand on Central Asian gas During his trip to the Caucasus, U.S. Vice President Dick Cheney received a cool reception in Azerbaijan. President Ilham Aliev indicated Baku would not support redirecting oil and gas flows to bypass Russia. Russia is...

Fall in crude prices has long term upside for Russian economy Crude prices have fallen for a fourth day – as oil companies discovered that Hurricane Gustav had caused minimal damage to platforms in the Gulf of Mexico. Crude fell another dollar, to around $108 a...

Uzbek President proposes new gas pipeline Uzbekistan's president Islam Karimov has suggested building a new gas pipeline in Central Asia with a capacity of up to 30 billion cubic meters.

WTO delays mean changes for Russia – Ukraine trade Russia is working on measures to protect its markets from Ukrainian products, and a free trade regime with Kiev may no longer be in Moscow's interests now that Ukraine has joined the World Trade Organisation.

Meet Russia’s first billionairess Elena Baturina has been named Europe's eighth richest woman. She was the only Russian in Forbes magazine's list of Europe's super wealthy women. Baturina is Russia's richest woman and its only female dollar billionaire.

Russia becomes the 8th largest holder of United States public debt. Russia has moved into 8th position in the list of holder of US Public debt according to Russia’s Finance magazine. Russian holdings of U.S. Public debt total $65.3 Billion, or approximately 2.5% of American Public debt.

CenterTelecom posts 1H 2008 Net Profit of $98.9 million Russian communications provider CenterTelecom has seen Net Profit for 1H 2008 jump 28.9% year on year to $98.9 million under IFRS.

Vladivostok gets look over ahead of 2012 APEC Summit Russia will host the Asia-Pacific cooperation summit in 2012. Prime Minister Vladimir Putin has visited the far eastern city of Vladivostok to remind officials that the clock is ticking and it's time to start building.

EU holds on to business ties Meeting in an emergency session on Monday, European Union leaders had few options when it came to an economic response to Russia following its military actions in Georgia. Instead, they're opting for diplomatic pressure.

Uralkali posts 1H 2008 Net Profit of $559 million Russian fertilizer producer, Uralkali, has seen IFRS based Net profit for 1H 2008 soar 260% year on year to $559 million.

Dalsvyaz posts 28.5% Net Profit jump to $23.9 million for 1Q 2008 Russia’s Far East telecommunications provider, Dalsvyaz, has posted a 1Q 2008 Net Profit of $23.9 million under IFRS.

Kalina posts 1H 2008 Net Income of $13.5 million. Russian cosmetics producer, Kalina, has posted a 1H 2008 Net Income of $13.59 million under IFRS.

Russia’s rich kids get their rating Russia’s richest children have personal capital of $3 Billion or more. That’s according to Finance Magazine which has published its annual rating this week.

Turbine goes back to Germany after 77 years of work well done A German-made turbine is being returned to Berlin's Museum of Technology after nearly 80 years of operation in Russia.

Robots picking up new tricks en route to becoming big business A robot which talks, climbs stairs and serves drinks has been shown to the public at the Moscow Motor Show. Experts say machines are ready to start working with people. The trouble is – they have an image...

Russia Turkmenistan trade ties looking up Russia's First Deputy Prime Minister Viktor Zubkov has flown to gas-rich Turkmenistan to tie up a trade and economic cooperation deal. Zubkov says business relations with the Central Asian state are developing faster...

Political tensions add to woes for currency and credit Ongoing tensions about the conflict in South Ossettia have added to a volatile month for the Russian Ruble and the stock market. Market players say more capital outflows and a possible worsening of the credit...

Reports of energy supply cuts denied Russia will remain a reliable supplier of energy to Europe regardless of the political relations between different nations says Russia's Energy Minister Sergey Shmatko.

West Siberian Resources posts 2Q 2008 Net Profit of $157.8 million Swedish listed Russian oil producer, West Siberian Resources, has posted a 2Q Net Profit of $157.78 million for 2Q 2008 under IFRS.

Rosneft reports Net Income of $4.31 Billion for 2Q 2008 Russia’s largest oil producer, Rosneft, has posted a 2Q 2008 Net Income of $4.31 Billion under U.S. GAAP.

X5 reports Net Profit of $161 million for 1H 2008 Russian retail group, X5, has reported a 1H 2008 Net profit of 161 million, up 432% year on year, under IFRS.

Evraz posts 1H 2008 82% Net Profit increase Russian steelmaker, Evraz, has unveiled a 1H 2008 Net Profit of $2.04 Billion under IFRS, up 82% on the same period 2007.

Lukoil posts 2Q 2008 Net Profit of $4.13 Billion Russia’s largest independent oil producer, Lukoil, has posted a 2Q 2008 Net Profit of $4.13 billion under U.S. GAAP, up 64% on the same period 2007.

Powerful new Intel chip begs how much do laptop users need?: comments

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