(RIA Novosti / Said Tzarnaev)

Russia and South Korea are teaming up to develop the emerging North Caucasus tourism hub – an exciting project which will create 20,000 local jobs.

The Russian government will fund the initiative through Northern Caucasus Resorts – a state-owned company created to construct five new world-class resorts in the region.

Ahme...

Russia´s banks are increasing deposit rates

With Russian banks desperately in need of money, biggest player Sberbank has increased rates on some of its rouble retail deposits to raise cash from individuals. Analysts say other banks are likely to follow the leader.

State giant Sberbank, that holds almost half of all individual deposits in Russia,...

Greek Prime Minister George Papandreou (AFP Photo / www.papandreou.gr / Vasileios Filis)

Markets around the world have plunged into another round of volatile trading, after Greek Prime Minister George Papandreou called for a referendum on the EU plans to bail out the country

­Russian stock indices blew away on Tuesday after last week’s rally, which w...

Russian money pouring out as foreign assets shine

The Central Bank of Russia (CBR) expects $70 billion net private capital outflow from the country in 2011, against an earlier projected $36 billion.

­The Central Bank has also lowered its forecast on international reserves from $515 billion to $495 billion.

“An important factor behind escalating c...

CB pulls Tuvacredit and Uralinkombank licenses

Urals Innovation Commercial Bank (Uralinkombank) and Tuvacredit have had their banking licenses lifted by Russia’s Central Bank (CBR) on Tuesday, the regulator said in a statement.

­Uralinkombank lost its license in line with the Federal Law on Insolvency (Bankruptcy) of Lending Institutions “due to t...

TNK-BP has broken into an exciting new region as it signs a long-awaited deal to explore the lucrative Solimoes Basin with Brazilian company HRT O&G.

­ Under the farm-in agreement and joint operating deal, TNK-BP subsidiary TNK-Brazil will get 45% in the twenty one oil and gas-containing exploration blocks, spread over roughly 48.500 square ...

New orders buffer Russian manufacturing business with PMI escalating

HSBC Manufacturing PMI edged up from 50.0 to 50.4 in October, signaling a mild improvement in the manufacturing business climate at the start of Q4.

­The seasonally adjusted HSBC Russia Manufacturing PMI tracks five major components – new orders, output, employment, suppliers’ deli...

Search results Vladimir Putin holds meeting of Eurasian Economic Community's Interstate Council at prime ministers' level Vladimir Putin holds meeting of Eurasian Economic Community's Interstate Council at prime ministers' level. (RIA Novosti/Aleksey Nikolskyi)

The Customs Union Commission which regulates cooperation between Russia,...