Articles by Oleg Nikishenkov

Aksakov Stripped of Banking Post

Anatoly Aksakov was removed by the Duma from his post as head of the National Banking Council on Tuesday, after the deputy drew widespread criticism for suggesting that the ruble should be devalued.

Wimm-Bill-Dann Q2 Profit Soars by 42.6% to $52.3M

The countrys biggest dairy and childrens food producer said the cost of goods fell in the dairy segment, which helped its profit margins in that segment rise 200 percentage points year on year.

Traffic Police Can Remove Outdoor Ads

New federal regulations allow traffic police to remove advertisements that block streetlights, road signs and diminish road safety, a restriction that could apply to 80% of current outdoor ads.

Ramblers Losses Grow As Market Share Drops

Rambler Media reported widening first-half losses Wednesday, as the search engine company lost market share and advertising dropped throughout the sector.

Watchdog Initiates Antitrust Case Against Kaspersky Lab

The Federal Anti-Monopoly Service said Thursday that it had opened a case against software company Kaspersky Lab for not providing information requested by the watchdog.

Putin Lets Kostin Take a Vacation

The banker says he is on track to meet and surpass an order to boost the lenders loan portfolio.

MICEX Head Touts Ruble, Dismisses Devaluation Talk

MICEX head Konstantin Korishchenko gave a positive assessment of the rubles future, adding his voice to a chorus of top officials who have spoken out against devaluation of the currency.

Plans to Save Fish Industry May Be in Trouble

The government is setting up wholesale fish markets and electronic exchanges, but finance and transport still pose serious problems.

City Threatens Benefit Cuts For Those Who Refuse Jobs

The city will stop paying unemployment benefits to those who have twice refused job placements found for them by government employment agencies, a top official said Monday.

Obstacles Remain to Foreign Share Issues

From its peak in May to its nadir in October, the MICEX Index lost 74 percent of its value, one of the most significant market declines in the world.

Banks Loom Large at Moskva-City

Sberbank and VTB own or hold mortgages on nearly every building going up in the Moskva-City business district, an unexpected outcome of the financial crisis that has forced the state banks to add the risky portfolio of real estate to their traditional business of lending.

Report: Construction Destroying Old Moscow

Groups say the scale of destruction is comparable to waves of development in the 1930s and 1960s under Stalin and Khrushchev.

Police: Chigirinsky May Stay in Britain

  • 20 July 09
Beleaguered entrepreneur Shalva Chigirinsky might not return to Russia after failing to appear for questioning over a tax evasion case involving the Moscow Oil and Gas Company, investigators said Friday.

GDP Beats Forecast but Bad Debts Loom

The economy contracted by a less-than-expected 10.1 percent in the first half of 2009, the Economic Development Ministry said Wednesday, but an OECD report warned of tough times ahead if Russia doesnt deal with bad debt.

GAZ Gets $630M in State Guarantees

The struggling automaker should be able to access the money by Aug. 1, Shuvalov tells Putin.

June Inflation Falls to 18-Month Low

Inflation fell to an 18-month low in June, even as statistics showed the economy sliding deeper into recession during the last quarter.

Market Watchers Size Up Correction

After a dismal 2008, equity markets soared in the first half of this year only to be pulled back to earth in June.
Now, with six months of the year gone, market watchers are scrambling to find a reason for the correction — and peering into the future to see what the rest of 2009 will bring.

GAZ Will Close Loss-Making Units

GAZ Group said Wednesday that it might close several unprofitable subsidiaries because of a worsening market in another setback for Oleg Deripaska's struggling car and van maker.