business in Russia

Russia's State Duma proposes to abolish VAT

The value added tax (VAT) should be abolished in Russia, first deputy chairman of the State Duma Commission on Small and Medium-Sized Businesses Nikolai Arefiev said in an interview with the Rossiya-1 television channel. "I …

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Aeroflot announces start of share offering

Aeroflot Russian Airlines has officially announced the beginning of an offering of up to 1.7 billion new shares. "PJSC Aeroflot today announces the launch of a capital increase by placement of up to 1,700,000,000 new ordinary …

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Rashid Ismailov becomes VimpelCom president

The board of directors of Russian mobile operator VimpelCom, working as Beeline, has appointed former Deputy Digital Development Minister Rashid Ismailov as the company’s president, the operator said on Wednesday in a statement. …

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U.S. slaps more Russia's Prigozhin-linked sanctions

The United States has imposed fresh sanctions on the interests of an influential Russian businessman close to President Vladimir Putin. The State Department announced that it sanctioned five companies connected to Yevgeny …

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Forbes names Russia's richest businesman

Forbes magazine has compiled the rating of 200 richest Russian entrepreneurs, topping the list is head and beneficiary of Norilsk Nickel Vladimir Potanin with a fortune of $19.7 billion (up from the 6th place with $18.1 billion). …

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Elena Baturina is no longer Russia's richest woman

The founder of the online retailer Wildberries Tatyana Bakalchuk topped the list of Russia's richest women, Forbes magazine said. According to the publication, her fortune reached $1.4 bln. Bakalchuk pushed off the …

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Nisanov and Iliev buy Moscow’s Central Market

The Kievskaya Ploshchad group of companies, owned by immigrants from Azerbaijan, God Nisanov and Zakhar Iliev, acquired the Central Market on Rozhdestvensky Boulevard in Moscow. The deal was reported by the head of Gremm Group, Mikhail …

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