The World Bank has recognised Russia as a high-income nation in its official global rankings, after stating that the average Russian gross national income per capita in Russia is US$14,250, which at current exchange rates, in local Ruble terms is ₽1,260,940. The World Bank Group assigns the world’s economies to four income groups: low, […]
The former Mercedes-Benz plant in Yesipov near Moscow will begin mass production of China’s Exeed cars, the premium brand of Chinese automaker Chery under a contract assembly agreement starting in July. Mercedes-Benz exited the Russian market in April 2023, selling their shares in the Yesipov factory to the Russian local car dealer Avtodom. Interestingly, Mercedes-Benz […]
Vietnam’s TH Group has begun construction of a livestock complex for a total population of 10,000 cows in the Yakovlevsky district of Primorsky Krai (Province) with commissioning scheduled for 2027, the Russian Far East and Arctic Development Corporation has reported. The project is being implemented by TH Rus Primorsky LLC, a resident of the Mikhailovsky […]
The Sri Lankan authorities have decided to transfer the management of the southern Mattal Rajapaksa International Airport (MRIA) in Hambantota to the Russian airport management company AR Regional Airports and India’s Shauraya Aeronautics. MRIA is one of three international airports in Sri Lanka and was built to offset pressure at the main airport in the […]
The number of new companies registered in the Special Administrative Regions (SAR) on Russky Island in Vladivostok, and Oktyabrsky island in Kaliningrad exceeded 400 in April, with the registration of new residents indicating the continuing interest in re-domiciliation into Russia’s legal jurisdiction. The SAR’s offer specific benefits not available on the Russian mainland, including lower […]
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Norilsk Nickel, the metals group controlled by Russia’s richest man Vladimir Potanin, will move some copper smelting production from its home country to China, as western sanctions restrict access to key pieces of equipment and cut profitability, the Financial Times reports. Potanin said that the mining major plans to relocate its copper smelting capacity at […]
Investments made – mainly by manufacturing businesses – rose by 76% in 2023 to hit ₽261 billion (US$2.8 billion) according to the Russian Association of Industrial Parks (AIP). Only confirmed investments on completed projects — were taken into account, with the volume the highest in ten years. AIP Director Denis Zhuravsky has said that the […]
Our much-praised Russia’s Pivot To Asia PDF Guide is now available for download. This comprehensive book contains details of Russia’s trade and development with over 80 countries as well as analysis on new supply chain routes, trade agreements, and Russia’s involvement with the BRICS, EAEU, SCO and Belt & Road Initiative. Contents include: Russia & […]
The auto fleet servicing subsidiary of Russian carsharing service Delimobil , Smart Mobility Management LLC (SMM) opened an office in China this year for direct purchases of spare parts, the company reported in notes to its financial statements for 2023. The office was opened in Shanghai to “look for new counterparties, partners, investors and establish […]
Update: April 13, 2024: French Foreign Legion arrives in Ukraine The first group of French Foreign Legion mercenaries have arrived at the Ukrainian military HQ in Slavyansk in Donetsk, according to the Telegram channel Military Chronicle. An initial group of 100 soldiers have arrived in the city, which is controlled by Kiev. It includes artillery […]
UDM Nestors LLC plans to invest ₽946 million (US$10.1 million) in the construction of a milk processing plant in the Izhevsk special economic zone (SEZ) that is being created in Udmurtia, the regional government said in an order posted on its website. The project is expected to be operational by 2028 and is the most […]
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