GDP Decline may be About 3%, Said Prime Minister

The year-end GDP decline is expected be about 3%, said the Russian Prime Minister Mikhail Mishustin at a meeting on economic issues. The worst-case scenario, voiced by some experts in the first half of the year did not come true, and no double-digit production decline is expected.

Sanctions not Affecting Rise in Turnover Between Russia and China

As reported by the media, in 2022, imports from China to Russia of special equipment, including excavators, trucks and tires, increased significantly but the volume of purchases of smartphones and computers decreased, according the data provided by China.

Car Assembly at Moskvich Plant to Begin Next Week

Moscow Mayor, as reported by RIA Novosti, announced that as early as next week at Moscow-based Moskvich plant will start assembling cars. Sergey Sobyanin expressed the hope that next year the company will assemble as many cars as Renault assembled in Moscow before it left the Russian market.

Increase in Cement Imports may Lead to Closure of Number of Russian Plants

Cement supplies to Russia from Belarus increased sharply in the third quarter of this year, as reported by RBC. In the first two months of the third quarter alone, more than 434,000 of cement were delivered to Russia from the union state, which is 61% more than in the same period last year.

Russia Needs Accelerated Structural Economic Conversion, Says Central Bank Head

The situation in the global economy has got worse, said Elvira Nabiullina, the chairwoman of Central Bank of Russia, at the meeting of the relevant committees of the State Duma held the day before.

West's Sanctions are Backfired

The Western anti-Russian sanctions did not work, according to analysts from the Brussels-based Brugel Center and the U.S.-based International Finance Institute (IIF.)

Employment of Russians may be Legislatively Provided by State

The Ministry of Labor of the Russian Federation has submitted a working draft of the law ‘On Employment’ for approval to the experts, the concept of which was presented back in February 2022.

Apple and Samsung Punish Themselves – Chinese Smartphones to hit Russian Market Under Shady Schemes

The average cost of a smartphone in Russia decreased by 15% in the third quarter of 2022 and is now 19,300 rubles ($316.08), according to a study of Marvel Distribution.

What may U.S. Federal Reserve's Rate Hike Lead to?

The U.S. the Federal Reserve (Fed) is holding another meeting today. Inflation in the country is rising and, according to Kommersant, reached 9.1% in July. In this regard, the Fed continues to tighten monetary policy. Analysts believe there may be a new interest rate hike.

Russia's Manufacturing Sector Shows Mixed Dynamics During Sanctions

The Federal Service of State Statistics (Rosstat) published data for September, which show acceleration in the decline of industrial production in annual terms. After the decrease by 0.1% in August, the decline in September is already estimated at 3.1%.

Yediny Zakazchik to Take Care of Long-Delayed Construction Projects

The government of the Russian Federation considers the issue of transferring the completion of construction of a number of socially important long-term projects in the regions to the federal level. If this decision is taken, the functions of the state customer for such facilities may be transferred to the Yediny Zakazchik firm or subordinate organizations of the Ministry of Construction.

Russia is Expected to Increase Tariffs for Mobile Communications by 10-15%

According to the Telecom Daily agency, the average rates for communications, including the largest cellular operators, may increase by 10-15% in Russia next year. Experts of Finam Investment Holding and TNT Consulting analytical agency also agree with this data.

Six EU Countries Increase Trade Volumes With Russia to February Levels in Spite of Sanctions

Six EU countries began to increase trade with Russia despite the sanctions. In June of this year, trade rebounded to the level of February, i.e., before Russia's EIA in Ukraine.

CHROME Gastrobar, a-s-t-r-a art Gallery and Ilya Kutoboy to Launch Joint Project

The exhibition ‘Tropical State Syndrome’ by artist and illustrator Ilya KUTOBOY will be opened in the colorful CHROME gastrobar space. Kutoboy himself calls his style “tropical primitivism.”

Fixed Price for Russian oil to kill EU Economy

U.S. Treasury Secretary Janet Yellen announced the establishment of a ceiling price for Russian oil of $60 per barrel during the meeting of representatives of the International Monetary Fund (IMF) with representatives of the World Bank, held in Washington.